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Is This My Holy Grail EA :D

  • #1,081
  • Oct 2, 2008 6:26pm Oct 2, 2008 6:26pm
Quoting desi
Thanks Bob.
By the way I have started trading on 2 demo accounts (IBfx and FXDD) and made profits in the range of $30-80 trading. The maximum drawdown in one of the trades was 26%. (see graph).
I just stop the EA as soon as I see some reasonable profit and start the EA all over again regardless of the time.
It really is a great system, thanks again my friend. I am thinking of going live with a $1000 account. Which of the above two brokers you advise?
All the best with your live trading.
I use IBFX, I have never used FXDD. Maybe others can tell you about FXDD. I have been with IBFX for 2 years now.
  • #1,082
  • Oct 2, 2008 7:26pm Oct 2, 2008 7:26pm
Quoting azam575
http://img106.imageshack.us/img106/2614/90m1ibfxkz9.gif
Anyone please tell me how to add green Equity line on the graph. I only get blue line.
  • #1,083
  • Oct 2, 2008 8:08pm Oct 2, 2008 8:08pm
Does anyone know what the reverse condition function does in this EA? I tried it, but am not following it. Thanks to all, especially nanningbob.
  • #1,084
  • Oct 2, 2008 11:02pm Oct 2, 2008 11:02pm
Quoting dowog
Anyone please tell me how to add green Equity line on the graph. I only get blue line.
The green line is shown from backtesting in MT4. Blue lines are from foward or live testing results.
  • #1,085
  • Oct 2, 2008 11:03pm Oct 2, 2008 11:03pm
Quoting nonlinear
Does anyone know what the reverse condition function does in this EA? I tried it, but am not following it. Thanks to all, especially nanningbob.
Never used it or tried it.
  • #1,086
  • Oct 3, 2008 12:18am Oct 3, 2008 12:18am
Just an update, Nanningbob's 100/40 is still working it's wonders for me. I'm trading 12 pairs at 0.01 and it's made me a few hundred this week. I'm in the ++ tonight, so I will be shutting everything down for the week in about 5 min. Thanks again to nanningbob.
  • #1,087
  • Oct 3, 2008 1:59am Oct 3, 2008 1:59am
Dear Bob,
Thank you for your great EA. But I still don't know when is the proper time and proper place to open and to close the EA? Do I need to open and to close the EA every day or just open it on Monday and close it on Friday?
I find open the EA at different time the results are quite different.
Thks again
  • #1,088
  • Oct 3, 2008 4:28am Oct 3, 2008 4:28am
Quoting FrostCall
Just an update, Nanningbob's 100/40 is still working it's wonders for me. I'm trading 12 pairs at 0.01 and it's made me a few hundred this week. I'm in the ++ tonight, so I will be shutting everything down for the week in about 5 min. Thanks again to nanningbob.
That's great. It's a good idea to shut it down before Friday. Fridays haven't been all that great for me.
What pairs did you eliminate? I have 14 I'm trading.
AUD/CAD,AUD/JPY, AUD/USD, CHF/JPY, EUR/CAD, EUR/CHF, EUR/GBP, EUR/AUD, EUR/USD, EUR/JPY, GBP/USD, GBP/JPY, USD/CHF, USD/JPY
Thanks
  • #1,089
  • Oct 3, 2008 6:35am Oct 3, 2008 6:35am
Quoting xchbn
Dear Bob,
Thank you for your great EA. But I still don't know when is the proper time and proper place to open and to close the EA? Do I need to open and to close the EA every day or just open it on Monday and close it on Friday?
I find open the EA at different time the results are quite different.
Thks again
You need to demo and find out what is best for you but I live and work in China so I start my EA around the JPY open and close for profit sometime during the Euro session. I have had very good success in closing during the Euro session and then restarting just before the USA session. This strategy has worked very well during very volatile periods. During non volatile periods you can let it run all week with very little interference on your part. Volatility in the market place determines your strategy. Its not that complicated but you do have some knowledge.

What I am saying basically is this, the EA is designed to run in a 3-400 pip range. As long as the market retraces during that range or you are with the trend there are no problems, you can let it run, BUT when you have those occasional rare days where it doesnt, like this last Monday, you need to step in and close all orders or close the troubled orders and start again so you have the full range of the EA.

The key to my system is knowing and understanding the death trade, once you can recognize it and understand it, you can be very successful with this EA. You can only learn to deal with it by demo trading and getting a feel for how it works. Those out there that have used this for a while are seeing it and are becoming successful. The simple bottom line is this, the EA makes profits and handles the trades, you only have to avoid the death trade.
  • #1,090
  • Oct 3, 2008 6:37am Oct 3, 2008 6:37am
Quoting FrostCall
Just an update, Nanningbob's 100/40 is still working it's wonders for me. I'm trading 12 pairs at 0.01 and it's made me a few hundred this week. I'm in the ++ tonight, so I will be shutting everything down for the week in about 5 min. Thanks again to nanningbob.
Hey guy, great job. I live in the Why didnt I close that eur/jpy trade monday when I had the chance. But the rest of the week went well and I will completely recover soon. Thank you for your comments. I hope you continue to do well.
  • #1,091
  • Oct 3, 2008 6:40am Oct 3, 2008 6:40am
Quoting gerrigirl
That's great. It's a good idea to shut it down before Friday. Fridays haven't been all that great for me.
What pairs did you eliminate? I have 14 I'm trading.
AUD/CAD,AUD/JPY, AUD/USD, CHF/JPY, EUR/CAD, EUR/CHF, EUR/GBP, EUR/AUD, EUR/USD, EUR/JPY, GBP/USD, GBP/JPY, USD/CHF, USD/JPY
Thanks
You are trying something I had a difficult time with. I had tried smaller amounts of funds but was not successful. If you are going to use smaller funds I would drop the EUR/JPY, GBP/JPY, EUR/AUD. They can give you fits in volatile periods. The take up more margin than some of the other ones.

I had one of my best Fridays today, Almost made a 100 bucks on .02 a trade. I will see how Monday goes and then go back to trading .03 if the market is not going too crazy. Good luck.
  • #1,092
  • Oct 3, 2008 6:49am Oct 3, 2008 6:49am
I tested this part of the program and it did work. Change the false to true and specify what amount you want to stop and close all orders at. I had one set at 650 dollars and it shut down all the trades when the compiled loss hit 650. It then reentered from that point. So determined the total combined loss you would be willing to lose as your last emergency shut down and set the EA. This can help you in not wiping out your entire account if you are not around.

extern string AMP="if true, then the expert will use money protection to the USD specified";
extern bool AccountMoneyProtection=False;
extern double AccountMoneyProtectionValue= 650.00;
  • #1,093
  • Oct 3, 2008 7:01pm Oct 3, 2008 7:01pm
Quoting nanningbob
The green line is shown from backtesting in MT4. Blue lines are from foward or live testing results.
Thank you for your reply Bob. Best of luck to your live trading.
  • #1,094
  • Oct 3, 2008 8:03pm Oct 3, 2008 8:03pm
你好：nanning bobo:

you said: " Interbank it is 0.01=1 cent, 0.10= 10 cents "

so with IBFX the .01 will do penny trades

1 dollar= 10dimes = 100 cents= 0.01 lot*100pip

but I tested the IBFX demo account 0.01lot / 1 pip = 1dimes ????

1 dollar= 10dimes = 0.01 lot*10pip？？？？

非常感谢你，南宁bob
  • #1,095
  • Oct 3, 2008 10:32pm Oct 3, 2008 10:32pm
As some of you guys know, I have been testing the 100x40 for some time now. I have learned a few things you may be interested in:

 

  1. I seem to get better results when I "close all" positions more frequently than I get by letting the EA run for extended periods.
  2. In my experience, given enough time, running it without resetting the positions you will always blow your account.
  3. Don't simply open/close restart the EA at a regular time each day.
  4. Reset EA at reasonable SL and TP targets.

The general rule seems to be that if your account starts showing a loss, then you should close all and restart the EA. If the price is moving in the direction of the day's trend it will re-open the positions in the proper direction when possible and you will start seeing profits.

When to exit is the question, just as any other type of trading.

I have seen some success by going by the old rule "cut your losses short and let your profits run." By that I mean you should set some kind of limit to what you are willing to let your losses go to before closing and resetting. I am thinking maybe letting it go against you $50 or so. Not more than $100 for sure. And then you have to consider the "take profit" target. It may be reasonable to close out and lock in profits when you get to $100 or so. Maybe $200 if it is moving fast in your favor. I do think it is much more sensible to take the small gains (or losses) and re-start the EA than to just sit there like a deer in the headlights and watch while your profit evaporates, or even worse, to suffer while your balance goes farther and farther into the negative while you hold out the (many times false) hope that you will get a miracle retracement in time to keep you from blowing out.

I can say with certainty that you can sometimes be on the wrong side of the trend with this EA and be saved by a last minute retracement that makes up the huge drawdown you have --but it does not always save you. And what happens when the market has one of these runs without a retracement? You guessed it. You blow out your account. It happens all the time.

If resetting doesn't get you back on track after a time or two -- well then maybe it just wasn't a good day to trade. There's always tomorrow. If you don't blow your account.

This has been an interesting learning experience so far and I'm not claiming I have the keys to success. So please excuse me if I come back in a few days and say "oops, that did not work" or "I think I will try a little different method." Either way, I hope it helps us advance a little more each day.

Don't be afraid to share your results.

PD

  • #1,096
  • Oct 3, 2008 11:52pm Oct 3, 2008 11:52pm
Quoting oahuil
你好：nanning bobo:

you said: " Interbank it is 0.01=1 cent, 0.10= 10 cents "

so with IBFX the .01 will do penny trades

1 dollar= 10dimes = 100 cents= 0.01 lot*100pip

but I tested the IBFX demo account 0.01lot / 1 pip = 1dimes ????

1 dollar= 10dimes = 0.01 lot*10pip？？？？

非常感谢你，南宁bob
There are two types of demo accounts at IBFX regular and mini. If you dont have your demo set as a mini account it wont do pennies. I thinkit is the same thing with the live accounts also. If you dont see a little m on the tabs next to the currencies you arent trading using their mini account.
  • #1,097
  • Oct 3, 2008 11:58pm Oct 3, 2008 11:58pm
Quoting PistolDave
As some of you guys know, I have been testing the 100x40 for some time now. I have learned a few things you may be interested in:

  1. I seem to get better results when I "close all" positions more frequently than I get by letting the EA run for extended periods.
  2. In my experience, given enough time, running it without resetting the positions you will always blow your account.
  3. Don't simply open/close restart the EA at a regular time each day.
  4. Reset EA at reasonable SL and TP targets.

The general rule seems to be that if your account starts showing a loss, then you should close all and restart the EA. If the price is moving in the direction of the day's trend it will re-open the positions in the proper direction when possible and you will start seeing profits.

When to exit is the question, just as any other type of trading.

I have seen some success by going by the old rule "cut your losses short and let your profits run." By that I mean you should set some kind of limit to what you are willing to let your losses go to before closing and resetting. I am thinking maybe letting it go against you $50 or so. Not more than $100 for sure. And then you have to consider the "take profit" target. It may be reasonable to close out and lock in profits when you get to $100 or so. Maybe $200 if it is moving fast in your favor. I do think it is much more sensible to take the small gains (or losses) and re-start the EA than to just sit there like a deer in the headlights and watch while your profit evaporates, or even worse, to suffer while your balance goes farther and farther into the negative while you hold out the (many times false) hope that you will get a miracle retracement in time to keep you from blowing out.

I can say with certainty that you can sometimes be on the wrong side of the trend with this EA and be saved by a last minute retracement that makes up the huge drawdown you have --but it does not always save you. And what happens when the market has one of these runs without a retracement? You guessed it. You blow out your account. It happens all the time.

If resetting doesn't get you back on track after a time or two -- well then maybe it just wasn't a good day to trade. There's always tomorrow. If you don't blow your account.

This has been an interesting learning experience so far and I'm not claiming I have the keys to success. So please excuse me if I come back in a few days and say "oops, that did not work" or "I think I will try a little different method." Either way, I hope it helps us advance a little more each day.

Don't be afraid to share your results.

PD

Thanks Dave, those are good comments. Closing out and restarting especially in volatile markets like now is very good advice. I have come to similar conclusions.
  • #1,098
  • Oct 4, 2008 7:01am Oct 4, 2008 7:01am
Hi Nanningbob and Pistoldave,
I think it is a good idea to start EA again. My question is how long you will wait to start the EA again hoping that this time the order will be in line with the daily trend.
On that note you think it will be a good idea to check the daily charts for all pairs as soon as you start the EA and if you see that open postions for more than 50% of the pairs are in opposite direction of the trend then close the EA? After sometime start the EA again hoping that this time the EA will get it right and order will be in line with the daily trend.
Thanks for the advice.
  • #1,099
  • Edited 8:59am Oct 4, 2008 8:47am | Edited 8:59am
Quoting desi
Hi Nanningbob and Pistoldave,
I think it is a good idea to start EA again. My question is how long you will wait to start the EA again hoping that this time the order will be in line with the daily trend.
On that note you think it will be a good idea to check the daily charts for all pairs as soon as you start the EA and if you see that open postions for more than 50% of the pairs are in opposite direction of the trend then close the EA? After sometime start the EA again hoping that this time the EA will get it right and order will be in line with the daily trend.
Thanks for the advice.
Folks this EA has a range of 3-400 points, you can start it anytime. This is not a precision pin point project. The chances of any currency going over 400 pips in one day is very rare (except gbp/jpy and gbp/chf) Monday was an example of a rare day. It took the failure of a 700 billion dollar bailout to go outside the range of the EA. Just turn it on and run it. It will pick out the trend using the one day chart. Let the EA do its thing and quit trying to out think it. Currencies always retrace, that is what the EA picks up and makes its profits from. Whether it is going with the trend or against it, currencies retrace.

At the beginning of the week you wait for the gaps to happen at the beginning of the market open and you want to close sometime Friday before the weekend. All you have to do is watch out for a potential death trade and that is it. KISS keep it simple. I turn it on, I go to work and 6-10 hours later I check to see how it is doing. If its made profits I close and restart, close and done, or let it run. Thats the rules.
  • #1,100
  • Oct 4, 2008 6:24pm Oct 4, 2008 6:24pm
I thought this article was interesting:

http://www.forexfactory.com/news.php?do=news&id=111670

Be very wary of gaps this Monday. Do not turn your EA on until afterwards. If the gaps are big that means a big day ahead.
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