Is This My Holy Grail EA :D

All I'm saying is we have it good as it is, I don't kow why there's so many half arsed lazy bastards out there that wanna turn this art into a science

Just my opinion anyway

Ok sorry mate - I just read trhe title Holy grail and EA and I guess it just hit a nerve. I apologize don't mean to sh*t on your parade

Should prob get my facts straight before loud mouthing my opinion I think it may be the beers talking hehe sorry

I understand there are people out there who don't have time to sit in front of their monitors for extended periods of time... Thats just life I guess. Hey if you're making $ out of it then mission accomplished.

I just know personally I will never use an EA as you may have gathered hehe

Sorry again I wish you the best

Hi Guys; I'm new to posting, but I have been trading and working on an EA for two years. that said, your both right. Manual Tading is part gut feeling and a lot of knowlege. With that in mind, I made nothing last night while my EA made 187 pips while I slept. However, latly I'm trading about 50/50 and my EA trades about 50/50. My conculusion is that with a little work the EA could do better than me, if I can get it tuned up. the reason is, I get tiered then I get stupid, then I loose real money. An EA will not get tired, I just need to make it smart. So do what works best for you and don't fight each other, if we all love each other the world will be a better place.

be well and take care, Jeff

Thanks Jeff

You make a good point a computer has no emotion - but at the same time no descrettion

I guess im just scared by the idea that a computer can automate what I spend most of my time doing manually!

Sorry for my negative outbursts my opinion hasn't changed for me personally but I respect what you are trying to do (or doing! I should really read the thread!)

I guess when it comes down to it having a computer make money for you is in itself a holy grail I just find it hard to believe.

I used words like "fool" "half arsed" and "lazy" "lame" and since i don't know you I take them back!

But seriously those traders that used to draw all their charts by hand must be turning in their graves lol

prob opened their trades by telegram. But no reason why you can't take advantage of a good thing (computers).

I am a full time EA trader!
I really do not claim to be a forex Trader although I did manually trade for nearly 3 years with about break even resutls.
I have an EA that works well for me and I now let it make me enough to support me nice lifestyle

It seems that the mood here is that a Full time income EA cannot be done... well, if you look hard enough you can find a good EA that will allow you to be free!

Oh!... and you don't need to spend 5k for a good EA there are actually people that are not in the business of ripping you off! Keep looking and I hope you will see that an EA is just a way to help get you to your financial goal.

I respect traders who want to "Trade" but Trading seems to take too much time....I on the other hand like to Live my own life and leave the trading to a Machine

thanks

seems interesting

Very interesting.. Hey good for you too. I'm not here to cause trouble or doubts

But it's funny your EA makes money but you say you could only BE. How could that be so? aren't the rules for entry and exit of your EA black and white?

Why could you not copy this - hey not having a go just interested to hear your thoughts on this

cheers

my best EA does great one day and fails the next, I have one with great trade & account management but the entry is about 50/50 good to bad. I'm not the programer, and my programer did not put in notes so it is hard for me to fix. I would like to use this program as a management base then plug in an entry system that is relilable. does anyone want to work together?

Here is the entire package. Ok, I can post the changes I made to Azaams EA. I have attached them here. One is a buy and one is a sell EA use them according to the rules I posted earlier. I am up 519 points the last 3 days using pennies. The good news is I never used more than 4% of my account to margin doing this, a major breakthrough in MM trading. So I am pleased with the results. I put everything in one folder. The two EAs, The arrow warning, the template and instructions. I will clean up the instructions another day, I just copy and pasted previous posts for now. You can also read the instructions from posts 368 to 372. Use them on a 4 Hour chart.

The only settings you may want to change is the lots, set at .01 and the steps set at 6. The sto settings, high/low etc. are no longer in the program. Those of you who cant trade pennies need to use extreme care in using a martingale. My testing shows you need at least 3000 dollars in an account to trade 15 pairs with this at .10 a lot. If you havent been following this thread and dont have a thorough understanding of a modified Martingale system AND currency ranges, you need to trade a demo for several months and learn how to use it. Dont be like my friend who several months ago had 2000 dollars and decided to trade 1.00 lots. He got wiped out in 9 hours. During that same period I made 32.00 dollars. This is a very powerful program and trading with pennies is my only recommendation. I have found good steady growth doing this. The reasoning on how it works and why is found throughout this thread. SO YOU HAVE BEEN WARNED!!!!

Sorry I may have not been as clear as I thought... I traded my own style and could not make much in the Forex. I now trade 2 different EA's (that I purchased) and they make the money for me...

hopefully that makes more sense sorry I did not create a EA I just found a couple that do very well

This question was asked and I decided to give the basic philosophy of why this works:

Hey bud,
Looks like all is well. I was looking at your EA. So you have to manually turn them on when they hit the right points? just trying to understand before I run it.

Thanks for your hard work,


Yes, at this point of development you manually turn on/off this EA. As you know MM trading shows a lot of profit and then dies (the death trade) in almost every case seen on the internet. Solving that problem involved five areas:
1. Giving it enough range to cover almost ever market move. Understanding the maximum a currency will move in one day. This is not ADR this is maximum range for the day. Understanding this concept solves a lot of Martingale strategy problems.

2. Going with the major trend so you dont get involved in a death trade. Logical for most Forex trading. Using the double sto, MACD combo is the best trend forecaster I have seen. You can see the red and white lines approaching the yellow for the turn around spot. And you can see all 3 lines are overbought and oversold so the market has only one direction to go. It is a very good predictor of about where the market will change direction for the week. I find it is accurate to within 48 hours. Combined with support and resistance levels you have a very good chance of knowing where it will change. (there are other things this indicator will tell you but that is another post)

3. Playing with small enough lots so your account can handle it. Margin usage is a big problem with Martingale trading. Testing has shown this solves this problem.

4. Using multiple currencies so your profit comes from all of them combined not just one currency. This helped overcome the losing trade when you dont know which currency was not going to retrace for the day. It also catches the biggest moves of the day because you dont know which one will move the most that day. Almost every day I close all my trades and I never hold trades over the weekend. Profits almost every day and losses are small and very manageable.

5. You choosing the entrance spot to ensure market will go in your direction but if it goes against you there is not enough market move left to overcome the range or a small margin account. I believe you can trade this strategy with a small amount of money and still be profitable. That was one issue I had not been able to solve until now.

Thanks for all the encouragement, support, and pitching in to help with ideas. Some of you gave me key ideas that lead to this. Your questions helped me to know which direction and problems I needed to solve. Your suggestions helped bring solutions.

Nanningbob

Hallo Bob!

Thanks for these detailed insights and the work so far. I hope this was not a farewell post, as the end of it sounded a bit like that!

Would you mind going into detail about what pairs you use and which one you do not recommend and why?

Have a good weekend and hope moving to the other building is not too stressful!

Ciao!
Matt

Not a farewell post, love writing here and have made several new friends. I just think I have solved the last major problem of MM trading. I may have a tweak or two left but I have used the 4H trade system for over a year on live trading and I know how accurate it has been. I just never thought of splitting the program and trading it like this.

The only currency pair I do not recommend is the USD/CAD. The reason is the US currency is a huge economy and the CAD is a very small currency yet I think Canada is our #1 trade partner. The USA fundamentals when they are strong crush Canada currency so there are times (even for several weeks, there is no major retrace) You will see spots on the 4H chart with that currency where the Red, White, Gold line will go below 10 or above 90 and basically dont move. It will just trend very slowly for long periods of time and you need retracements for MM to work. However, if you close down almost every day like I do you just keep piling up small losses or very small wins. It is only a danger if you get into a trade and you keep thinking price is going to reverse and it doesnt and you keep holding the trade every day. You can eyeball a back test and you will see what I mean.

I use a 100 tp step 40 because it was the only combo that survived the big moves during the interest rate declines in Feb through April. However, there are currencies that often dont move the 100 points to take profit (tp). You can get anywhere from 40-80 pips on them but you close them manually, other wise they will retrace and you lose your profit. The two biggest that rarely go 100 pips in 1 day is the Eur/Gbp and Chf/Jpy.

The slower pairs are Aud/Cad, Eur/Chf, Aud/NZD, NZD/USD, Aud/USD.

The biggest moving pairs are the GBP/JPY and GBP/CHF. You can many times get 200+ plus pip moves in 1 day.

The faster pairs that have a chance at 200+ pip days but you can get your 100 pip TP most days are:
USD/CHF, GBP/USD, EUR/JPY, EUR/AUD.

The rest of the currency pairs are in the middle. I use this info in deciding when to TP.

When do you close a trade, take profit and turn the EA off until the next signal? There are 4 reasons I will TP on a currency.

1. When the red and white lines have reached the other extreme on the 4H chart. The closer or tighter the red and white lines run together is a good sign to let the profit run. The tighter those two lines run together the stronger the move.

1A. The farther apart they are the weaker the move. If the white line goes to the opposite side but the red does not, very weak move, expect the prevailing trend to continue so you may consider closing that trade and waiting for a better entrance point.

2. When they hit a resistance or support level and it doesnt look like they will continue.

3. The arrow has come on pointing in the other direction.

I attached a screen so you can see what I am talking about. If price continues and you closed early. No big deal, you still made a profit If red is below white stay in.

4. IF red and white are below/above Gold and Gold is moving in the same direction stay in. If ever red and white cross Gold or the arrow comes on in the opposite direction. GET OUT time to TP.

I deliberately chose this PIC to show you how you are getting sell signals but price keeps running up. The far left shows red, gold, and white above the lines. Take each profit and reenter. These type of trades will go on for 4-12 hours but you still make profit. If you miss a profit point the EA reenters every 40 pips. From the 1st bottom (farthest left blue arrows) to the highest top (6th yellow arrow from the left) it is only 190 pips, well within the safety range of 350 pips this EA can do when it is set at 8 levels.

Here are two perfect trades for today. Notice I got in a little early but what is nice about MM trading that is ok. With other trading systems you get punished for getting in too early or if you wait you may lose the entrance. With this you can get in early and it will make more money for you. Notice the spike that knocks out other peoples stop losses, with this it adds an extra position for more profit. I am at level three now and even if price continued up for some strange reason I still have over 250 pips this EA could easily cover. Sooner or later it is coming down and I am in a position to profit handsomely. Now its just a waiting game. If I had turned on the EA SELL now, it would automatically enter at the cross down. The white red and gold are all above the 90 line. This doesnt happen as often but I consider it the perfect trade scenario. Most of the time the red and white will be above 90 and the Gold will be above 70. That is why I will be early on some trades.

On the first pic I entered with the yellow arrow but price didnt TP and we had price continuaton. I didnt TP because there were no closing signs. In regular trading my trade would now be in a loss but with MM I have 3 positions waiting for price to go down. The second pic I have two positions. The EA is set for 100 pip TP but on either trade when the red and white are at or near the bottom I can TP whether it has hit 100 TP or not.

This is my EUR GBP trade I entered yesterday and now I am taking profit. Both the red and white have hit the bottom. I will be looking for a retracement and a reenter tonight or tomorrow. It is conceivable you could stay in this trade as long at the red and white are below the GOLD but I saw some other trades I like and the E/G is such a sllllloooowwwwwww moving pair. I took profit even though the trade had only made 14 pips but with E/G that is like winning 28 pips because the price is almost double. For instance the eur/usd is 1.00 per pip but the E/G is 1.96 ?? a pip. So it still was a nice trade.

In post 396 I took 2 trades and here are the results. The eur/usd moved over 200 points. Nice profit. The NZD the white line went down but not the red. I took a small loss 14 pips and got out. When the white line goes down but not the red it will continue its uptrend so I will reenter again after the white line goes near the top again.

From post 395 AUD/USD price continued up another 130 pips after my entrance. So it went 3 more levels before retracing. I closed early for a profit and didnt wait for it to go the full 100 points. I didnt think it would but it did. Still made a profit though. Again this is another trade where the white took off but the red did just a little. It was the reason I closed it early with profit. I was already 4 levels deep and if the uptrend continued I would be pushing the EA to its limit and I dont want to do that. So a profit is a profit. I am trying to show trades that arent picture perfect so you understand how this works.

One more trade and then I will shut up. This was a text book trade. I entered too early and went 6 levels deep before turnaround. GBP/USD went over 200 pips up after I entered. The sixth level entered right at the peak so it was maximum money on that one. The EA took my 100 pips from level 5 60pips from level 4 and 20 pips from level 3. Just like the text book. The red and white where seperated so i turned the EA off after the profit. I was at +24 pips into its second trade when I closed it down.