Is This My Holy Grail EA :D

Quoting nanningbob

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1. Backtests are unreliable especially with martingale systems. When they gap over the weekend it causes the reentry effect to be out of whack. In other words you dont get that even reentry levels. This causes backtests to give erroneous information about the EA. This discovery led to me to do a trade by trade analysis of the martingale system and see there was a way to trade it. Dont keep trades over the weekend they are the biggest cause of the death trade in backtesting. So backtesting will not give you good solid results of this stystem,only and idea of how it works.

2. I dont use any type of loss control. I am the loss control. You cannot program to close off of a retrace. That is how you can keep this system profitable is closing off a retrace or closing when you see trouble.

3. That is why I use 10-15 currencies and use only 8 levels. No one currency can wipe out my account. Even if it goes 800 pips in the hole my account survives. I will always get to the trade before it ever goes that bad. It is the fundamental belief of my stystem that you will always get a retrace. That is 100% true. Sometimes I wait 10-12 hours but I get my retrace and I am out or I am out at the crossing of the support/resistance line.

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Quoting jnevins

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Dawveed,

The optimal lot size depends upon your account size.. this is very important. Read back into the previous posts to see what lot sizes correspond to what account sizes... This is one of the important questions we are working out as a group... If you look back at my past two posts, you'll see that I was testing to see how a large account size (100k) with a .1 lot would fare without worrying about market volatility and death trades... I was hoping the account would self destruct with all of this wild volatility of the past two weeks... alas, it was not to be. After a hefty drawdown, the account is back to 89k trading 22 pairs... Of course, would I risk 100k on this style system, even if I had it? Of course not... That is why I am grateful for Bob's work as he tweaks account size vs lot size along a more modest account... With a smaller balance however, you have to be on your toes and not allow a death spiral to occur!

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Quoting nanningbob

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Here is the 1w 1d 1h EA. It follows the trend of the weekly and gets agreement from the daily and hourly. I did not test this very long because the 1D only was doing so much better. Maybe this can handle bigger lots with the fewer trades. good luck.

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Quoting dawveed

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Hi jnevins,
Thanks for your info.
Which EA would you recommend for a 3-5K balance?
Do you use specific settings or the default ?

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Quoting nanningbob

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The EAs work the same no matter what time frame you are on. When price crosses the 2MA on the 1W and 1D and the 7MA on the 1H then it will enter. The theory is you want to go on the long term trends and not have to worry that much about backlash. I never tested for more than a couple of days so I dont know much about its results.

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Quoting dmitry_dos

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Appreciate the breakdown Bob.

Are the MAs also hard coded into your EAs?

Thank you.

D.

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Quoting dawveed

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Hi Bob,

Some questions:

1) Then, may i use the Backtest from Monday to Friday to avoid the gaps?

2) What do you mean exactly by levels?

3) Does this system have any template available?

Thanks..

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Quoting nanningbob

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1 yes
2. the reentries. For example the 100 40 reenters every 40 pips and takes profit every 100

3. Not really. It is very simple. I use the Pivot indicator I posted earlier and some stochastic lines. Every chart I have is different colors. I can post one if you like.

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Quoting dmitry_dos

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Good day Bob, I hope everything is going well.

I have a couple of technical questions concerning your 100/40 1D EA.

1. I went into the EA settings and set "UseTradingHours" to "true", and it starts with TradeAsianMarket at 0 hours. My question here is, does the EA automatically know and use the different market time frames (possibly calculated from the clock on the computer), or does it start from the Asian open at 0 hours every time I switch on the EA/platform, regardless of the time of day?

2. The EA is 8 levels deep. Is there a setting that I can change to make it possible for the EA to make only one trade (1 level) and not make any more trades on that pair until the next trading period (next day)?

Thank you for your time.

Dmitry

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Quoting dawveed

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2. Do you mean that the EA enters the market every 40 pips (up or down) from the last entry??
If it is so, when it reaches the level 8, it start again?


3)Yes please..

and BTW i've been trying the EA since yesterday showing very good results... over $400USD in profit!

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Quoting nanningbob

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The EA uses GMT time so 8 pm EST = 0 GMT the beginning of the JPY market.

Yes you can set the level to 1. It will trade just the 1 time until you close the trade or it profits.

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Quoting dawveed

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Hi jnevins,
Thanks for your info.
Which EA would you recommend for a 3-5K balance?
Do you use specific settings or the default ?

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Quoting dmitry_dos

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Thank you Bob and joeTrue,

but to clarify my first question, does the EA timer automatically have the time periods built into it to recognize the time of day at any point in time I switch it on, or do I have to switch it on at 0 GMT for it to start from O GMT?

Thank you!

Dmitry

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Quoting jnevins

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Hi Dawveed,

I'd personally just trade pennies with a 3-5k balance... Using the ratio I am using (which has survived all of the market turmoil over the last two weeks pretty nicely, with a 5k account I would use an IBFX micro account where .01 lot = 1cent and start the EA initial trade size to .05 lots for a value of 5 cents on each position.

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Quoting nanningbob

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NO the program is set to follow GMT time, not your computer time.

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Quoting mamma

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Bob,
FYI MT4's MQL has no reliable method to determine GMT. It can only check your computer time through function TimeLocal() but the rest of Time functions operate with your broker's server time which is different from broker to broker. (i.e. my broker Alpari UK has GMT +1.)

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