Is This My Holy Grail EA :D

Quoting nanningbob

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It takes time and I dont mind answering questions. Try the modifications and see if that doesnt work. If not download an IBFX demo and see if you have the same problems.

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Quoting PistolDave

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Thanks nanningbob for the answers.

Starting today I am going to place the 100x40 EA on the highest volatility pairs I was talking about. I will keep running the 50x40 on the others.

It should take a few weeks to really get a good sense of whether it is more profitable on them or not. I guess what I should do is to run each one on each pair on a separate demo account so I can compare the results to each other. That would be more scientific.

I think I will do that. I will start out testing the same pairs with two different EAs on two different demo platforms and compare the results over, say a one week period.

I will have to do everything else the same. Like starting and stopping them at certain times every day so there won't be any other variables. That way there is no variation in the results from my intervention.

I should be able to go back through the account history and calculate the total profit or loss on each pair over that time period with each EA. It will take some time, but it may show some interesting results.

Have you tried that yet? Do you think it would be worthwhile to do that, or do you have some other ideas that you would like me to help you test?

Good trading to you,
pd

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Quoting dowog

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Hi nanningbob,

Thank you very much for your detailed explanation. I finally understood how the EA works. I downloaded IBFX demo and everything is working fine now.

One quick question. They offer several demo servers like Demo Accounts 2, Mini Accounts 1, 2, 3, etc. Does it matter which server I choose? I chose Demo Accounts 2 and I must have chosen the right one because everything is OK but what's the difference?

I hate to waste your valuable time by asking stupid questions. I apologize for that. Thank you for your kindness and leadership. Good luck with your live trading!

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Quoting jnevins

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Here's an update of the performance of the 100, 40 1.5 EA... I am using default settings except for trading with the first level at .1 lot instead if .01. I applied this EA to 20 pairs in a shotgun approach... It is certainly fascinating to watch this run. Some pairs were out to -250 pips and came back...

I am not going to manually close positions for the time being as the beginning balance is sufficiently large to test to see how many levels the market will take it to... The choppy rise in the slope of the graph was due to me second guessing the EA and manually closing positions prior to the 70th or so trade... after that I have left well enough alone and the slope is much smoother... The account is up 11.4% in 5 trading days... for those trading with a smaller account, the results will be the same, just move the decimal point...

This is a demo account (of course) with FXDD, 1:100 leverage and default settings....

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Quoting jnevins

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Here is a snippet of code posted to the Metatrader Experts and Indicators group on Yahoo today...

> Hello, how do I close an open trade after say 10 minutes if it is not
> in profit yet?

After selecting the order:

if(TimeCurrent()-OrderOpenTime()>=600)
if(OrderProfit() <= 0)
OrderClose(...)


What about experimenting with different time frames? If the trade is not in profit after 10, 20 30 or 60 minutes, just let the EA automatically close it...

Could this be added to the EA?

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Quoting PistolDave

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Hi jnevins,

Looks like you are having excellent results.

Here is a chart showing my results so far.

I'm running the 50x40 on 16 pairs on FXDD demo with 100:1 leverage and a $3000 account.

The chart I am posting is from Aug 11 2008 to Aug 18 2008. With EA running every trading day. Notice that around trade #225 there was a drawdown resulting from the huge reversal on the GBPJPY which I was obviously on the wrong side of at the end of the day. Also around #315 there was a drawdown. Those are just part of it. Still only at most a 6% drawdown. From there to the end of the chart I was attempting to manually open and close postions to keep them on the right side of the "trend" if you can call it that. I had hoped that it would help to avoid some of the losing trades. Instead, it just eliminated the potential winners too.

Lesson learned: You don't know what direction the price will go in from hour to hour. It can go against the trend for hours and then retrace and make all that up in a matter of minutes (and many times does.)

I am starting to understand that is not the best way to work this.

I can see from your chart and from what I have done that it is better to enter at some point and then leave it alone. Let it trade the "noise" as well as possible throughout the day and then either close out the big losers at the end of the day or close them all out and restart the EA at a pre-determined time the next day and let it go again.

If nanningbob could give me some feedback on this I would appreciate it. I remember he said he would start his EAs at the beginning of the Asian session and close out during the late US session. This seems like a good idea.

(And naturally, I wanted to screw around with it and try to make it work better.)

I am going to do some tests of opening and closing at some different times to maybe see if there is a more profitable time to trade. And also try using the 100x40 on certain pairs and the 50x40 on others like I said in an earlier post and I will let you know how that works.

I have 3 demo accounts that I can use to work with so I will be able to make some controlled tests trading the pairs and maybe make some more progress.

Thanks again to nanningbob for paving the way for us.

PD

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Quoting PistolDave

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Hi jnevins,

Looks like you are having excellent results.

Here is a chart showing my results so far.

I'm running the 50x40 on 16 pairs on FXDD demo with 100:1 leverage and a $3000 account.

The chart I am posting is from Aug 11 2008 to Aug 18 2008. With EA running every trading day. Notice that around trade #225 there was a drawdown resulting from the huge reversal on the GBPJPY which I was obviously on the wrong side of at the end of the day. Also around #315 there was a drawdown. Those are just part of it. Still only at most a 6% drawdown. From there to the end of the chart I was attempting to manually open and close postions to keep them on the right side of the "trend" if you can call it that. I had hoped that it would help to avoid some of the losing trades. Instead, it just eliminated the potential winners too.

Lesson learned: You don't know what direction the price will go in from hour to hour. It can go against the trend for hours and then retrace and make all that up in a matter of minutes (and many times does.)

I am starting to understand that is not the best way to work this.

I can see from your chart and from what I have done that it is better to enter at some point and then leave it alone. Let it trade the "noise" as well as possible throughout the day and then either close out the big losers at the end of the day or close them all out and restart the EA at a pre-determined time the next day and let it go again.

If nanningbob could give me some feedback on this I would appreciate it. I remember he said he would start his EAs at the beginning of the Asian session and close out during the late US session. This seems like a good idea.

(And naturally, I wanted to screw around with it and try to make it work better.)

I am going to do some tests of opening and closing at some different times to maybe see if there is a more profitable time to trade. And also try using the 100x40 on certain pairs and the 50x40 on others like I said in an earlier post and I will let you know how that works.

I have 3 demo accounts that I can use to work with so I will be able to make some controlled tests trading the pairs and maybe make some more progress.

Thanks again to nanningbob for paving the way for us.

PD

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Quoting akukaya

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Just wonder is there many FF members are fan of martingale??

I've seen in many other thread regarding martingale and not sure why senior members like Xaron, Numeral, guest121,Rama and others not participate on this thread...may be because it is place in rookies section??

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Quoting akukaya

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I've interested in Martingale system although some may say it is a failed system.

I like some creativity here and read a lot about the martingale system, and I have also read something that quite similar in term of creative increasing lot
such as Martingale and d'Alembert Binary Equation Strategy.

It is not related to Martingale other than the principle of increasing trade (bet) size to recoup losses. Some may say it is Money management system rather than trade system.

Not sure if the ideas can make the modified system here better.

Just wonder is there many FF members are fan of martingale??

I've seen in many other thread regarding martingale and not sure why senior members like Xaron, Numeral, guest121,Rama and others not participate on this thread...may be because it is place in rookies section??

I am now developing something quite similar with your idea Bob, but I dont want to mess existing ideas in this thread with mine until I get more results.

Perhaps when I am ready, I will post it here.

Just wonder if we using price action, can the backtest with 90% modelling results reflect the ideas that we have here. At least we will save much more time.

Anyone had try running 2 different account.
One live demo and one live real account and see whether the results is at least 90% similar. and then try with backtest on those day to see what different results it give.

How about the idea Bob?

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Quoting Tjpld

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IMHO trying to cover up that you're lously trader with some suicidal MM is the worst thing you can do. You really belive you can outsmart the market just by adjusting positions on each trade? lol
You are just waiting for you account to blow up. With time the chances of this happing go to 1. It's the law of the large numbers.

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Quoting nanningbob

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PERSPECTIVE is the downfall of traders. If you can keep your expectations under control and accept that a 13% gain in two week is a phenomenal investment, there is no shame in trading .02, .02 trades will never get you into trouble of ruining your account, you are on your way. At this return rate, which matches the 100/40 I did earlier in the year, you double your account in less than 3 months.

The biggest problem I face in trading is unrealistic expectations, (GREED). If I can over come this human emotion of more more more, I can be a successful trader. Getting rich slowly takes time. Getting there at 5% a week actually is faster than you think.

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