The HOLY GRAIL 130 replies
Developing the "Holy Grail" Trading System 4 replies
Holy grail trading system wanted, or nearest thing to it! 43 replies
6 Steps To Finding Your Personal Holy Grail 6 replies
The Search for the Holy Grail 1 reply
Dislikeddude 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.Ignored
DislikedI 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.
ThanksIgnored
DislikedAgreed. 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.Ignored
DislikedActually 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.Ignored
DislikedThe 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.Ignored
DislikedHi 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 youIgnored
DislikedAlso:
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!Ignored