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Is This My Holy Grail EA :D

  • #841
  • Sep 11, 2008 10:34pm Sep 11, 2008 10:34pm


Quoting PistolDave
...anticipate and avoid these days...
  • #842
  • Sep 11, 2008 10:35pm Sep 11, 2008 10:35pm
Quoting tdion
10pts3 is a ticking timebomb..... would anyone care to dispute this?


did you try it?

thanks
  • #843
  • Sep 11, 2008 10:41pm Sep 11, 2008 10:41pm
dude 10pts3 has been out for several years.... there are at least a half a dozen threads about it.... have a look for yourself and see what people are saying about it.

Quoting someonee1234
did you try it?

thanks
  • #844
  • Sep 11, 2008 10:48pm Sep 11, 2008 10:48pm
Quoting tdion
dude 10pts3 has been out for several years.... there are at least a half a dozen threads about it.... have a look for yourself and see what people are saying about it.



was just curious.
thanks
  • #845
  • Sep 11, 2008 11:12pm Sep 11, 2008 11:12pm
Here is my live demo test using my 100/40 on 12 select pairs. These 12 seem to have worked the best with the 100/40 over the last 6 months. I doubled my 3000 account in less than 4 weeks. I started on Aug. 20 and am showing the results today. I used .10 per trade. Here are the pairs of the test. Again this is live testing not backtesting.
AUD/CAD, AUD/JPY, AUD/USD
EUR/CHF, EUR/JPY, EUR/USD
GBP/USD, GBP/CHF, NZD/USD
USD/CHF, USD/JPY, CHF/JPY

I was hoping to have started my live account by now but the deposit was mixed up at IBFX so I will have to try again. I am waiting for them to finish canceling the order and charging my card back and then I will resubmit my deposit order. Somehow instead of a single order a double order went through.
Attached Image (click to enlarge)
Click to Enlarge Name: DetailedStatement.gif Size: 5 KB
  • #846
  • Sep 11, 2008 11:16pm Sep 11, 2008 11:16pm
Quoting tdion
10pts3 is a ticking timebomb..... would anyone care to dispute this?
The 10.3 had a big weakness because it was based on MACD. MACD is too slow of an indicator to work with a modified martingale system or the martingale system it was designed for. I was not able to use my philosophy with it to make it work. So I do not dispute your comment that the 10.3 is a ticking time bomb.
  • #847
  • Sep 12, 2008 1:26am Sep 12, 2008 1:26am
Quoting someonee1234
I have many others trades to share. Will post them later.

This system works on all pairs. I am still working on the Take profit to make it even better.

Thanks
Post your EA in here, someonee.

I'm sure you will get some help developing and testing it.

PD
  • #848
  • Sep 12, 2008 1:32am Sep 12, 2008 1:32am
Agreed. After testing it along with other EA's and strategies, I find it VERY dangerous (unless you have an amazing amount of money and trade a very small portion). I'm still finding that manual trading with the trend is by far the best strategy. 10pts3 is still a very cool EA, but I just wouldnt bet my hard earned $$ on it lasting more than 5-6 months since it dies once the market becomes unstable. Pipmaker works in much the same way but seems to be only slightly better in that reguard.
  • #849
  • Sep 12, 2008 1:57am Sep 12, 2008 1:57am
Quoting FrostCall
Agreed. After testing it along with other EA's and strategies, I find it VERY dangerous (unless you have an amazing amount of money and trade a very small portion). I'm still finding that manual trading with the trend is by far the best strategy. 10pts3 is still a very cool EA, but I just wouldnt bet my hard earned $$ on it lasting more than 5-6 months since it dies once the market becomes unstable. Pipmaker works in much the same way but seems to be only slightly better in that reguard.
Actually you have to think the opposite. Not more but less. That was the downfall of the other systems. They always thought they could solve the problems with more money. I have done the opposite. I have solve the problems by less money, less levels, less greed, spread the risk over a dozen currencies. Use small amounts of money and small accounts. Limit the number of levels to 7-10 and you can be very successful. If you cut off the occasional bad trades these EAs will constantly win, its just a matter of recognizing the bad trade that pops up once in a while. Be wary of big news stories and close out your profits. Dont let them get away from you. The 10.3 and other systems didnt do that so they failed. I have been posting live results of my 100/40 for 6 months now and it is a very consistent winner.
  • #850
  • Sep 12, 2008 3:35am Sep 12, 2008 3:35am
Quoting nanningbob
Actually you have to think the opposite. Not more but less. That was the downfall of the other systems. They always thought they could solve the problems with more money. I have done the opposite. I have solve the problems by less money, less levels, less greed, spread the risk over a dozen currencies. Use small amounts of money and small accounts. Limit the number of levels to 7-10 and you can be very successful. If you cut off the occasional bad trades these EAs will constantly win, its just a matter of recognizing the bad trade that pops up once in a while. Be wary of big news stories and close out your profits. Dont let them get away from you. The 10.3 and other systems didnt do that so they failed. I have been posting live results of my 100/40 for 6 months now and it is a very consistent winner.
Hi Nanningbob, I agree with your philosophy, and I was looking at your results above, are those results still with turning the ea off everyday or is that a continuous run and shutting down on the weekends?
  • #851
  • Sep 12, 2008 5:25am Sep 12, 2008 5:25am
The problem I guess with my system is I still do a little reading of the markets. I refused to trade Monday when I saw the gaps. Didnt know what the market would do. If there is a big news story (I ignore average or above average news) I will watch my system more closely. I look at support and resistance on my 4H or 1D charts. If I am near a major bottom or top I try to make sure if there is a break out I am with it or getting out of trades. So if the market is ranging I let the EA go. The EA will handle any ranging market with ease. If I am near a breakout I will pay more attention to it. I am more likely to let it run Mon-Tues since those are slower days and am more willing to close out every Wed and Thurs. I always try to close out by the US market on Fridays but if it is using a lot of margin I will carry it all the way through to get a better close. During NFP week I let it run because it is extremely rare for there to be a major market move before that news story, (this month being a rare exception, JPY minister resigning changed things)


I think you will see my lines on my profit charts are smoother than other guys because I do read the markets some and that helps out. I also am not afraid to close out trades early if I dont like their direction, so you will see more flat times rather than dips in my profit pictures. I dont know how to fully explain reading the market, it is something you learn over time and experience. You see trouble coming so I keep my losses small. Sometimes I am wrong but I never let not winning bother me. If I pocket 40 bucks and could have had a hundred that doesnt bother me and I dont try next time to hang on. I still take the 40.

Last night the Aud/Nzd went out of range on one of my EAs. The account was up 84 for the day and it took -69 loss on the aud/nzd. So I took it and made a small profit. Today it retraced but so what. On my profit chart line it looks like the day was just a small profit day but I went ahead and took out a potential death trade that didn't death trade.

I don't know how to explain how to trade like that. It is just experience. Many days I come home from school see a profit, take it and close out the MT4. What happens after that I don't know and I don't care. I made a profit. When the EA is following the daily trend that is what happens most days. You can run the EA and it will handle just about anything. Moves over 400 pips are the killers and they are very rare. I take my loss and within a day or two I am back on track. In over 6 months I have had only one time my EA lose money 3 days in a row and they were all small losses. I still profited for the week even though it was not much. I believe, except for the gbp/jpy and gbp/chf you can literally let my EA run and never have to turn it off, except for weekends. Some of my demos I have let run for weeks and the EA always gets its retracement. On an occasion I step in a close a trade out of range (like I did with the AUD/NZD) but the losses are always less than a 100 dollars. Most of those days still end in profit even when I do that.

Does this answer your question, probably not. I just know this, If I pocket my profit on the entire account of all currencies, everything starts back at zero. I know I have 24 hours before I really need to worry again. When some guys had gotten clobbered last week on the JPY moves. On that day I saw a profit closed out and restarted and nothing went out of range. If I had not closed out I would have been in trouble like some of the other guys. Did I know that was going to happen? NO Did I follow some secret rule? NO. I just saw profit, took it and I knew every currency had a fresh 3-400 pip run in it. I went out and had no problems.

Sometimes I see the account 8 bucks in the hole and some currencies at levels 3-5. I go ahead and close and start over. Why? No rule, I just dont like what I saw, so I started over and then went out for dinner and friends. Came back six hours later and saw some big moves but I was safe within the range of my EA. Would I have been in trouble if I had not closed out before I left? I have no idea but I know my account was safe when I went back to zero. If I am going out for the day and there is a 5 or 10 or more small loss sitting there. I will just take it and reset the trades back to the zero line. How many trouble spots have I avoided doing that? I dont know. I just do it because it makes my account safe if I am going to be gone.

Its my money. I have learned the hard way. Take the loss and live to trade another day. This EA will do hundreds of profitable trades and then the big one comes. How many times have I avoided it by just not being greedy and going for the big money. 30 bucks a day x 200 is still 6000 dollars. I can drive a really nice car for 500 bucks a month. I can take my family on a really nice vacation with 6000 dollars. If you want to make more money use more accounts not a bigger account. The guy who wiped out the 100,000 account was stupid in his trading plan. That is not the EAs fault, that is poor financial planning. He didnt do the math before he started. Anyway enough rambling.

Pocket the profits and dont be afraid to take a loss. That is my plan.
  • #852
  • Sep 12, 2008 7:17am Sep 12, 2008 7:17am
Some people have asked for the EA again and a summary. My EA is based on a different form of trading. I trade within a 3-400 pip range on all currencies. That means as long as from the first entrance (level 1) until level 8 (8x40) My EA can make a profit. Every time you enter a new level it multiplies the pip factor by 1.5 every 40 pips. This multiplication allows each level to make more money than the previous level so when it profits the winners are bigger than the losers and you make a profit. Once you get to the 3-400 pip from the first level you face what I call the death trade. That means price is going outside the range of the EA. In almost all cases this will not happen in one day (except the GBP/JPY and GBP/CHF) At that point you are looking for some kind of retracement to get out of the trade at a small loss. The reason we only go 8 levels deep is we never let the losing trade get so big so as to wipe out your account. (a common feature of martingale trading, in other words, never let your loss get big) We believe in trading this way the winners will far outweigh the losers and will show up as a steady profit rise with an occasional loss dip. Our form of profit is measured not by pips but by percentage of account increase. The biggest problem faced by traders using this is when to get out. This knowledge can only be gained by live demo trading, you need to learn the following skills to successfully trade thits system

1. Learning to recognize and take a loss. The EA will handle the winners, you need to only protect yourself from the big loss.
2. Big losses are avoided by learning to read support and resistance lines on a 4H or 1D chart. This involves waiting for the bounce off the lines to lesson your losses or cutting your losses if the lines are broken.
3. Learning to recognize truly big news stories and getting out or closing all your trades so you have the full 400 pip protection range of the EA.
4. Not trading over the weekend if at all possible because of gaps in price when monday hits. These gaps are caused by weekend news stories that will affect the market. Last monday some currencies gapped over 500 pips off of the fannie mae, fannie mac stories.
5. This EA is based on two fundamental principles of forex
A. Price always retraces, it never always goes up and it never always goes down. Retracements make you profits or lessen your losses to small amounts.
B. The maximum amount a currency will move in a day is limited to less than 400 pips. Most currencies will move 75 to 250 pips in a day (except the GBP/JPY and GBP/CHF) and it takes a news story of huge proportions to change other wise. (See my 7 year currency facts for specific info)
6. The EA follows the daily trend based on a 1MA crossing a 1MA shift over 1 or a 2 MA crossing a 1MA.This allows you to follow long runs successfully but also turns the directions quickly if the market changes direction during the week.

This system is not a true martingale system but has been greatly modified to prevent the death trade. I call it Modified martingale or Phasing in trading. Phase trading is used by the large professional traders. They do not enter a market with 100,000 lots at once but enter in phases as they follow the fundamental trends of a market. They also dont use 20 pip stop losses. If price goes against them they enter more lots. If price goes with them they will enter more lots.

Since we dont have the millions or billions they have we use pennies, nickels and dimes. Using small amounts helps prevent large losses and spreads the risk over many currencies. This is a common tool of investors in every kind of investment portfolio. It is surprising to see traders putting all their eggs in one basket. ie one currency.

So how do I trade. My typical day starts around the JPY open and I try to close in profit during the EURO (most often) or the USA session. Sometimes I will ride the EA for two days or more depending on circumstances and the market. I do not follow each individual currency but the overall profit or loss of the entire trade package. If I see profit in my closed trades and the open ones are profitable or small loss I will close for the day and reopen the next day at the JPY session. This is not a hard rule but one that fits my lifestyle best.

Attached is the EA I used on the chart above. It is the 100 take profit reenter every 40 levels, multiplication factor 1.5, and the last reentry is at level 8. It is my most tested and reliable EA. It has passed the test of the interest rate moves of March and April. The price drops of the GBP and EUR and survived the big jumps in the JPY when the prime minister resigned. I have 3 times now doubled the account from 3000 to 6000 and I have never wiped it out on a death trade. A little tender care and it works.
Attached File(s)
File Type: mq4 100+40 1D.mq4   24 KB | 463 downloads
  • #853
  • Sep 12, 2008 7:28am Sep 12, 2008 7:28am
Quoting nanningbob
The problem I guess with my system is I still do a little reading of the markets. I refused to trade Monday when I saw the gaps. Didnt know what the market would do. If there is a big news story (I ignore average or above average news) I will watch my system more closely. I look at support and resistance on my 4H or 1D charts. If I am near a major bottom or top I try to make sure if there is a break out I am with it or getting out of trades. So if the market is ranging I let the EA go. The EA will handle any ranging market with ease. If I am near a breakout I will pay more attention to it. I am more likely to let it run Mon-Tues since those are slower days and am more willing to close out every Wed and Thurs. I always try to close out by the US market on Fridays but if it is using a lot of margin I will carry it all the way through to get a better close. During NFP week I let it run because it is extremely rare for there to be a major market move before that news story, (this month being a rare exception, JPY minister resigning changed things)


I think you will see my lines on my profit charts are smoother than other guys because I do read the markets some and that helps out. I also am not afraid to close out trades early if I dont like their direction, so you will see more flat times rather than dips in my profit pictures. I dont know how to fully explain reading the market, it is something you learn over time and experience. You see trouble coming so I keep my losses small. Sometimes I am wrong but I never let not winning bother me. If I pocket 40 bucks and could have had a hundred that doesnt bother me and I dont try next time to hang on. I still take the 40.

Last night the Aud/Nzd went out of range on one of my EAs. The account was up 84 for the day and it took -69 loss on the aud/nzd. So I took it and made a small profit. Today it retraced but so what. On my profit chart line it looks like the day was just a small profit day but I went ahead and took out a potential death trade that didn't death trade.

I don't know how to explain how to trade like that. It is just experience. Many days I come home from school see a profit, take it and close out the MT4. What happens after that I don't know and I don't care. I made a profit. When the EA is following the daily trend that is what happens most days. You can run the EA and it will handle just about anything. Moves over 400 pips are the killers and they are very rare. I take my loss and within a day or two I am back on track. In over 6 months I have had only one time my EA lose money 3 days in a row and they were all small losses. I still profited for the week even though it was not much. I believe, except for the gbp/jpy and gbp/chf you can literally let my EA run and never have to turn it off, except for weekends. Some of my demos I have let run for weeks and the EA always gets its retracement. On an occasion I step in a close a trade out of range (like I did with the AUD/NZD) but the losses are always less than a 100 dollars. Most of those days still end in profit even when I do that.

Does this answer your question, probably not. I just know this, If I pocket my profit on the entire account of all currencies, everything starts back at zero. I know I have 24 hours before I really need to worry again. When some guys had gotten clobbered last week on the JPY moves. On that day I saw a profit closed out and restarted and nothing went out of range. If I had not closed out I would have been in trouble like some of the other guys. Did I know that was going to happen? NO Did I follow some secret rule? NO. I just saw profit, took it and I knew every currency had a fresh 3-400 pip run in it. I went out and had no problems.

Sometimes I see the account 8 bucks in the hole and some currencies at levels 3-5. I go ahead and close and start over. Why? No rule, I just dont like what I saw, so I started over and then went out for dinner and friends. Came back six hours later and saw some big moves but I was safe within the range of my EA. Would I have been in trouble if I had not closed out before I left? I have no idea but I know my account was safe when I went back to zero. If I am going out for the day and there is a 5 or 10 or more small loss sitting there. I will just take it and reset the trades back to the zero line. How many trouble spots have I avoided doing that? I dont know. I just do it because it makes my account safe if I am going to be gone.

Its my money. I have learned the hard way. Take the loss and live to trade another day. This EA will do hundreds of profitable trades and then the big one comes. How many times have I avoided it by just not being greedy and going for the big money. 30 bucks a day x 200 is still 6000 dollars. I can drive a really nice car for 500 bucks a month. I can take my family on a really nice vacation with 6000 dollars. If you want to make more money use more accounts not a bigger account. The guy who wiped out the 100,000 account was stupid in his trading plan. That is not the EAs fault, that is poor financial planning. He didnt do the math before he started. Anyway enough rambling.

Pocket the profits and dont be afraid to take a loss. That is my plan.
Thank's Nanningbob, I appreciate the good advice and will follow in the way you succeed with this strategy. I will have three accounts going with this strategy, wish me luck!
  • #854
  • Sep 12, 2008 7:32am Sep 12, 2008 7:32am
Bob

Thx for reposting your EA.
I appreciate.

Cobra
Never Ever Give Up!
  • #855
  • Sep 12, 2008 11:40am Sep 12, 2008 11:40am
Nanningbob,

You're right. Spreading out your risk among several small accounts is a wise thing to do and good money management. Again, you are also right that being aware of likely drastic market swings and turning off your EA is a winning move. Trading in the way you mentioned, with an EA that you understand and that has limits is a winning idea. I have no 'but's to add. What can I say, you hit the nail on the head.

Thanks for posting the EA again, I'm reading it over and testing it out.
  • #856
  • Sep 12, 2008 2:39pm Sep 12, 2008 2:39pm
Hi Everybody,

My first post here.

Nanningbob, thanks a lot for your insights. You are very helpful.

One question.
You wrote:
"...It has passed the test of the interest rate moves of March and April. The price drops of the GBP and EUR and survived the big jumps in the JPY when the prime minister resigned. I have 3 times now doubled the account from 3000 to 6000 and I have never wiped it out on a death trade. A little tender care and it works. ..."

Am I right that going without death trade over this period would be impossible without "a little tender care"? Can you please clarify.

Thank you
  • #857
  • Sep 12, 2008 4:29pm Sep 12, 2008 4:29pm
Also:
What chart period do you use to run this EA (40/100) on?
Do you use the same default settings that are in the recently published mq4 file for all pairs that you've indicated?
Thanks!
  • #858
  • Sep 12, 2008 4:51pm Sep 12, 2008 4:51pm
Quoting mamma
Hi Everybody,

My first post here.

Nanningbob, thanks a lot for your insights. You are very helpful.

One question.
You wrote:
"...It has passed the test of the interest rate moves of March and April. The price drops of the GBP and EUR and survived the big jumps in the JPY when the prime minister resigned. I have 3 times now doubled the account from 3000 to 6000 and I have never wiped it out on a death trade. A little tender care and it works. ..."

Am I right that going without death trade over this period would be impossible without "a little tender care"? Can you please clarify.

Thank you
Yes you have to be proactive in the area of protecting the account. There is no such thing as avoiding the death trade in any trading system. Sooner or later you must put a stop to a losing trade. Some people use stop losses at a certain point. Some use manual stops. In my system you manually stop bad trades after a retracement when it gets 250-400 points in the hole. If you do this properly the losses are minimal but it does take time to learn. In this system you can go 300 pips in the hole off of the first trade but levels 5,6,7 will be profitable.
  • #859
  • Edited 5:08pm Sep 12, 2008 4:52pm | Edited 5:08pm
Quoting mamma
Also:
What chart period do you use to run this EA (40/100) on?
Do you use the same default settings that are in the recently published mq4 file for all pairs that you've indicated?
Thanks!
The all pairs posted is not my system. I dont know what that is. The chart period does not matter, the EA runs off of the daily chart no matter what chart you are viewing. So I click to different time frames to see what is going on but it does not affect the EA. I usually set it on the 1H chart most of the time.
  • #860
  • Sep 12, 2008 5:04pm Sep 12, 2008 5:04pm
Someone asked for the detail statement of my trades posted earlier. I tried uploading the statement but FF would not accept it as a file. I will try to see if I can find another way of posting it.
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