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Is This My Holy Grail EA :D

  • #961
  • Sep 23, 2008 8:21pm Sep 23, 2008 8:21pm
Quoting nanningbob
I would not trade more than .05 on a 3000 account. I have seen a couple of times where .10 will push the 3000 margin to its limit. I have traded successfully on a demo .10 but it was during the summer when I was around to watch it and I bailed out often at trouble. .05 is much more comfortable with 3000
Just to clarify Bob, when you say .05 lots, you are talking about five cents not $.50 correct?

I must say I'm amazed how robust this EA is!
  • #962
  • Sep 23, 2008 9:23pm Sep 23, 2008 9:23pm
Quoting jnevins
Just to clarify Bob, when you say .05 lots, you are talking about five cents not $.50 correct?

I must say I'm amazed how robust this EA is!
Yes I mean .05 or 5 cents. .50 cents would clean your account out very quickly.

Since we are using a trading range instead of a precise entrance points we can be in the market all the time based on the daily trend. It is amazing what pennies can do.
  • #963
  • Sep 23, 2008 9:26pm Sep 23, 2008 9:26pm
Quoting azjeff
Hello everyone,

This is like taking candy from the forex brokers. Nanningbob, Thank You for sharing how you trade. Anyone interested in my last post which includes my previous results. Please see post #907

Regards,
Jeff
Well, that was a nice compliment. Thank you. I dont have to worry about spikes, stop hunting, or other broker tricks (if you actually believe they would do such things) For them to defeat this system they would have to run prices way off the charts. I will explain why later.
  • #964
  • Sep 24, 2008 1:53am Sep 24, 2008 1:53am
Quoting nanningbob
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.
to see several times and the spread
Romano
Attached File(s)
File Type: mq4 ###Clock_v1_2.mq4   16 KB | 292 downloads
  • #965
  • Sep 24, 2008 2:45am Sep 24, 2008 2:45am
Someone asked for a template so here one is. Pretty simple. 1 MA on the 1 day chart, the pivot lines from PB autopivots and some Stochastic lines. Nothing fancy.
Attached File(s)
File Type: tpl 100 +40 template.tpl   7 KB | 378 downloads
  • #966
  • Sep 24, 2008 3:47am Sep 24, 2008 3:47am
Death trade philosophy. Here is a 4H chart of a demo I have run that shows a death trade that is almost 2 weeks old. The distance from dotted line to dotted line is one week. It has been out of range on this test EA for almost 2 weeks. There are several things I want you to understand.

1. Because I only go 8 levels deep, this trade did not wipe out my account. The total margin being used is under 400 dollars for all the currencies even though this trade is over 3500 dollars in the hole.

2. While this trade has been sitting out there the others have been making money and if this trade doesnt go any higher they actually will make up the deficit of this trade.

3. Now in real life you would never want to play this game but I am trying to show that going only 8 levels deep helps in keeping a marttingale type system from cleaning out your account. In other words no more reentries but because we play with pennies we dont suffer wipe outs either. If I closed this bad trade out I would still have an account even though it is 2 weeks as a death trade.

4. I wanted to show even in crazy times there are limits as to what a currency can or will do. So play small, think small and the pennies will add up and the bad trades have limits. This trade can only hurt to a point, we never want it overload the system. That is my philosophy rather than stops, limits etc.

5. Dont let a trade like this happen and you will be fine BUT if it does the loss is still limited and you live to trade another day.

Now if the GBP/USD will just go down a bit I will actually make a profit the last 3 weeks instead of a disaster wipeout that is so typical of martingale systems. If it doesnt go down, I still survive to trade another day. The loss is limited, the key to trading my system.
Attached Image (click to enlarge)
Click to Enlarge Name: gbpusdm 4h death trade.gif Size: 18 KB
  • #967
  • Sep 24, 2008 8:38am Sep 24, 2008 8:38am
Quoting nanningbob
Someone asked for a template so here one is. Pretty simple. 1 MA on the 1 day chart, the pivot lines from PB autopivots and some Stochastic lines. Nothing fancy.

Hi Bob, what time frame is this tpl. designed to be used with and lot size, or does it matter?

Thank's in advance,
you are a genius in my book!
  • #968
  • Sep 24, 2008 3:57pm Sep 24, 2008 3:57pm
Quoting zaxmarki
Hi Bob, what time frame is this tpl. designed to be used with and lot size, or does it matter?

Thank's in advance,
you are a genius in my book!

It does not matter. I usually have them on the 1H chart but I will look at other TF if I need to.
  • #969
  • Sep 24, 2008 5:47pm Sep 24, 2008 5:47pm
Did you get the latest message on the IBFX platform? It says you can't have more than 1000 trades or trade orders running at the same time. I'm wondering if I got the message because IBFX has been watching this EA and it's multiple orders. I know with this EA we'll probably never have more than 50-100 trades going at once so this won't be a problem. But do you see brokers coming up with some rule that will not let us trade this system, especially since it is a consistent winner?
  • #970
  • Edited 7:07pm Sep 24, 2008 6:13pm | Edited 7:07pm
Quoting Toothman
Did you get the latest message on the IBFX platform? It says you can't have more than 1000 trades or trade orders running at the same time. I'm wondering if I got the message because IBFX has been watching this EA and it's multiple orders. I know with this EA we'll probably never have more than 50-100 trades going at once so this won't be a problem. But do you see brokers coming up with some rule that will not let us trade this system, especially since it is a consistent winner?
Here is the message:

Please be advised that you cannot have more than 1,000 live and pending trades in your account at any one time. If you try to place more than 1,000 trades you will get an error message and will be unable to add any new trades.

IBFX

The max i can run on 15 pairs with my system is 15 x 8 levels = 120 trades. No I think this is an attack on another trading system. They enter trades and only close the profitable ones but keep the unprofitables running. The theory behind it is you take profit no matter which direction price goes. It works by entering a buy/sell with a take profit of lets say 10 points. Every time you take profit you enter another buy sell. As long as you stay between two points your winners will out gain your losers. It catches every market move of 10 points for profit. I tried this for a while but I couldnt make it work. Lets say price is bouncing between 1500 and 1900. You would have a buy and sell every 10 points apart. If you are trading multiple currencies you can have literally thousands of trades running. Once your EA has been running for several months you are bouncing between two points and never add to your loss anymore and you are taking only profit.

For Instance if you started your EA on the Eur/USD when it was at 135 and it hit its high at 160. From here on out you would not take on any more deficit but every market move of 10 points would make you a profit. You would not incur any more deficit until price went above 160 or below 135. So to stop systems like these companies will put limits on maximum number of trades.

I dont think we will have to worry about 100 trades going at a time. Usually my EA will run 30-50 and that is not an unreasonable number of trades. The amount of money my EA makes is peanuts in the billion/trillion dollar world of Forex. What may surprise you is my EA wont work on large amounts of money because Companies will change the leverage ratio when you get into the 10's and hundreds of thousands of dollars. You need leverage to make my system work. A 10:1 or 50:1 ratio would take 10-40 times more money to trade.

(continued)
  • #971
  • Sep 24, 2008 6:32pm Sep 24, 2008 6:32pm
hahhaa..
well said bob...
I'm quite happy with being a potato...
this EA brings in profit, thought not big... but good enough
  • #972
  • Sep 24, 2008 6:44pm Sep 24, 2008 6:44pm
Was curious about your statement that companies will change the leverage ratio on bigger live accounts. I spoke to IBFX and they told me you can still use the 400:1 leverage no matter how large your account is. Just thought this might interest you if you ever wanted to go bigger down the road.http://www.forexfactory.com/images/icons/icon10.gif
  • #973
  • Sep 24, 2008 7:10pm Sep 24, 2008 7:10pm
For example if I use $3000 at 400:1 leverage and at $300,000 a company allows you to only trade 50:1 leverage you would need 8x or $2,400,000 to trade the same ratios as my system. At $2,400,000 a company may only let you trade 5:1 so you would have to multiply by 10 to get the same ratios my system requires. At 24,000,000 a company may force you to trade 2:1 or 1:1. So you see large amounts of money never will solve the martingale problem or use my EA on large amounts of money.
  • #974
  • Edited Sep 25, 2008 1:50am Sep 24, 2008 7:35pm | Edited Sep 25, 2008 1:50am
Quoting Toothman
Was curious about your statement that companies will change the leverage ratio on bigger live accounts. I spoke to IBFX and they told me you can still use the 400:1 leverage no matter how large your account is. Just thought this might interest you if you ever wanted to go bigger down the road.http://www.forexfactory.com/images/icons/icon10.gif
Robert What is the maximum size of a micro account??
Robert is there a point where it is changed into a standard account if you reach a certain sum of money?
Client Services 40: No, it will stay as a mini account unless your change it.
Robert so if I have 1,000,000 there it doesnt change
Client Services 40: That is correct. However if you had that much money you wouldn't be able to properly utilize it in a mini account.

Even though what you said is true there would be problems. There are limits placed on these accounts but I dont have the rules right now. I think the amount of lots or the size of the lots is limited. You wouldnt be able to use the full margin of the account. These companies protect themselves from people betting against the bank and winning. Like it was said in Oceans 11, the house wins except for the one time when you can beat the house and then you bet it all. There will be some rule somewhere to prevent that on a leveraged account.
  • #975
  • Sep 24, 2008 7:37pm Sep 24, 2008 7:37pm
Quoting joeTrue
hahhaa..
well said bob...
I'm quite happy with being a potato...
this EA brings in profit, thought not big... but good enough
Where did the end of my message go??
  • #976
  • Sep 24, 2008 8:04pm Sep 24, 2008 8:04pm
I agree. From what I have seen, most brokers have the policy of reducing the leverage as the account goes up.

Not on the subject, but something else I have been concerned about is that most brokers will liquidate your positions when a certain size drawdown occurs. For your protection they say.

This is from IBFX website:

https://secure.ibfx.com/ClientServices/FAQ.aspx

"Interbank FX reserves the right to liquidate any open positions should a client's initial margin drop below 50%. This is an important risk management strategy for both Interbank FX and our clients."

I have had some times where the drawdown has swung temporarily below the 50% level then come back up into profit. With a live account I assume they would liquidate all the positions at that point - not just enough to free up margin. I don't know.

Also, many brokers have the infuriating policy of increasing the margin requirements at times like on weekends. Just some things I have heard. Not my experience. But it makes you think about what's in the fine print.

Something to be aware of.

PD
  • #977
  • Sep 24, 2008 10:49pm Sep 24, 2008 10:49pm
Quoting PistolDave
I agree. From what I have seen, most brokers have the policy of reducing the leverage as the account goes up.

Not on the subject, but something else I have been concerned about is that most brokers will liquidate your positions when a certain size drawdown occurs. For your protection they say.

This is from IBFX website:

https://secure.ibfx.com/ClientServices/FAQ.aspx

"Interbank FX reserves the right to liquidate any open positions should a client's initial margin drop below 50%. This is an important risk management strategy for both Interbank FX and our clients."

I have had some times where the drawdown has swung temporarily below the 50% level then come back up into profit. With a live account I assume they would liquidate all the positions at that point - not just enough to free up margin. I don't know.

Also, many brokers have the infuriating policy of increasing the margin requirements at times like on weekends. Just some things I have heard. Not my experience. But it makes you think about what's in the fine print.

Something to be aware of.

PD
My experience with IBFX is what ever drains your account the best is the way they do it. They will begin closing positions but not all of them and let the account drain to 0. I was with FXSOL and when your margin was 0 they closed all positions. so if I had 500 dollars I would place 9 lots 50ea and if my account went over 50 dollars down they would liquidate all the trades. It was liking having an auto stop loss but if the trade went well I made 9 bucks a point. Stupid trading plan but it was a fun way to lose my 500.
  • #978
  • Sep 25, 2008 12:16am Sep 25, 2008 12:16am
Quoting nanningbob
Where did the end of my message go??
no idea...
after i post, it disappeared
  • #979
  • Sep 25, 2008 12:41am Sep 25, 2008 12:41am
eh, no problems with IBFX yet, but I've only been using them for a few weeks.
  • #980
  • Sep 25, 2008 12:58am Sep 25, 2008 12:58am
Quoting FrostCall
eh, no problems with IBFX yet, but I've only been using them for a few weeks.
I have experienced very few problems with IBFX in the 2+ years I have been with them. There were some issues with connection and freezing when I first joined them but once they went to multiple servers, I have not had that problem. Most complaints I see people have is with widening spreads at news times and I dont trade news so that is not a problem. In my years of testing EAs I get the reentries where I want them, sometimes there is some distance but that can usually be caused by news stories or connection problems. My EAs have run pretty smooth on their system. I have looked at other companies but the cost of depositing and recieving my money is more costly, so I have stayed with IBFX.
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