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Is This My Holy Grail EA :D

  • #1,161
  • Oct 8, 2008 8:08pm Oct 8, 2008 8:08pm
Quoting FrostCall
Thanks Dave! Those of use who have been using the EA can easily tell by looking at the chart where you have closed your trades (the flat spots). Glad to know so many people are doing this right and making money.
Hi Frosty,

Yep, I'm leaning more toward asset protection now than trying to make max profits. I don't like to see huge drawdowns in my account in a day or two. I would much rather have a few days in a row that are flat or with small gains than be up 40% one day and down 60% the next, etc. I know I would not be able to tolerate that in a live account. Too much like gambling for me.

I would be happy with 10% or 20% per month with any system. I'm not a high roller I guess.

Looks like you are making some very steady gains yourself.

Are you still posting your results on your thread?

PD
  • #1,162
  • Edited 9:21pm Oct 8, 2008 9:02pm | Edited 9:21pm
I should clarify that I am using secure profit true at $50-100 (depending if I am around to watch the EA); orders to protect true at 2; all symbol protect true; equity protect true at 90%. EDIT:only on ONE pair. I had some issues when accidentally doing this on two pairs at the same time.
  • #1,163
  • Oct 8, 2008 9:33pm Oct 8, 2008 9:33pm
That thread basically updates it'self with the chart and all. I'm getting lazy, so I'm only making new posts (outside of the first post) when I feel the need to say something that I feel is important.
  • #1,164
  • Oct 8, 2008 11:45pm Oct 8, 2008 11:45pm
NZD pairs were all moved to 15-20 pip spreads by FX Solutions today because of volatility. I really recommend staying away from AUD NZD and CAD pairs right now. They can get crushed at any time by the big currencies.
  • #1,165
  • Oct 8, 2008 11:53pm Oct 8, 2008 11:53pm
ATR is a measure of volatility and stockcharts.com has a better description of it that i can put together here.

I like it because it shows the average range of a pair over the past X intervals. For me, I like the hourly because I trade the hourly.

The reason I chose 0.004 is that EURUSD has been under 0.004 for ATR(48) for at least 8 years.... It is abnormal for it to continually spike over 0.004.... and when it moves aggressively, it loses the characteristics my system was built on.
  • #1,166
  • Oct 9, 2008 12:12am Oct 9, 2008 12:12am
Cool, thanks.
  • #1,167
  • Oct 9, 2008 3:57am Oct 9, 2008 3:57am
Nanningbob,

Will you explain more about how the "multiply" setting works in the EA?

Mine is set at 40.

Is that the setting that determines the pip range between each new order?

For example:

With "Lots" set at 0.01 it opens orders in increments like this:

  1. 0.01,
  2. 0.02
  3. 0.03
  4. 0.05
  5. 0.08
  6. 0.12
  7. 0.18
  8. 0.27

At 40 pip intervals.
And stops entering orders after 8 levels.

The question is; would it be more profitable to set the interval to a larger number, say 50 pips, when the volatility increases like we have seen lately?

How can it be done? Can you change the "Pips" setting from 40 to 50, or is that set in the code and can't be changed?

Or, am I mistaken in thinking that this will improve the profitability?

Would a simpler and easier solution be to simply avoid any markets that are showing extreme ranges recently?

Thanks,
PD

  • #1,168
  • Oct 9, 2008 5:04am Oct 9, 2008 5:04am
Quoting PistolDave
Nanningbob,

Will you explain more about how the "multiply" setting works in the EA?

Mine is set at 40.

Is that the setting that determines the pip range between each new order?

For example:

With "Lots" set at 0.01 it opens orders in increments like this:

  1. 0.01,
  2. 0.02
  3. 0.03
  4. 0.05
  5. 0.08
  6. 0.12
  7. 0.18
  8. 0.27

At 40 pip intervals.
And stops entering orders after 8 levels.

The question is; would it be more profitable to set the interval to a larger number, say 50 pips, when the volatility increases like we have seen lately?

How can it be done? Can you change the "Pips" setting from 40 to 50, or is that set in the code and can't be changed?

Or, am I mistaken in thinking that this will improve the profitability?

Would a simpler and easier solution be to simply avoid any markets that are showing extreme ranges recently?

Thanks,
PD

In my testing I tried some different combinations so that multiiplying by 1.5 would give me my best profit. For instance in a regular martingale system multiplying by 2 was the mode but this always led to disaster. I theorized if I could limit my risk and limit the martingale multiplication I might be able to win. The ratio of 40% to take profit worked the best with 1.5. So I tested different formulas 75/30, 50/20, etc. and the 100/40 worked the best of the most amount of currencies. Now lets say you change that ratio to 100/50 like you suggest instead of have 3 profitable trades that would profit (1@100, 1@60, 1@20) you would have (1@100, 1@50, 1@0) The difference being 180 pips versus 150 pips. This increases the amount of each losing trade also. So how do you overcome these increases in debt, well you then have to have a bigger multiplier, so you change the 1.5 to 1.6 or 1.7 to gain the same profit margin. But this also increases your risk at the higher levels. There is a risk to reward in the ratios, have I tested all of them, no, I havent. The 100/40 worked so well, now we have all this wild stuff going on. How do we compensate? I am testing two ways. Staying away from the USA morning and dumping a lot of currencies to trade and I am only trading major/major, no minor currencies. The other is I am testing a 100/100 but now I have to use a 2.0 multiplier like the old martingale systems. I can go 8-900 pips deep on that one but a 100 pip retracement reenter 100 could mean I have to come back from a 190+ pip hole on some trades (the 100 reenter plus I can go 99 pips before the next reenter plus the spread) So can you go 100/50? yup but then you increase the risk on the retracements to a bigger number and the profit margins get smaller or you increase your risk with a bigger multiplier, so choose your poison. The 100/40 was the best balance I could come up with but that does not mean there is a better one.
  • #1,169
  • Oct 9, 2008 5:23am Oct 9, 2008 5:23am
extern string sb="--TRADE SETTING--";
extern double Lots = 0.03; // We start with this lots number
extern int TakeProfit = 100; // Profit Goal for the latest order opened
extern bool MyMoneyProfitTarget=False;
extern double My_Money_Profit_Target=50;
extern double multiply= 1.5;
extern int MaxTrades= 8; // Maximum number of orders to open
extern int Pips= 40; // Distance in Pips from one order to another
extern int StopLoss = 0; // StopLoss
extern int TrailingStop = 0;// Pips to trail the StopLoss

Here is the code in the EA. If you trade MaxTrades you can increase or decrease the number of levels entered.

Pips is the number for reentries so if you change that to 50 it will reenter every 50 pips. Double lots is the setting for how much each lot is worth on the first entrance. I think the rest is self explanatory. When I make changes I always do it inside the code. I havnt used the on screen one that pops up when you load the EA onto a chart.
  • #1,170
  • Oct 9, 2008 5:32am Oct 9, 2008 5:32am
Would a simpler and easier solution be to simply avoid any markets that are showing extreme ranges recently?

This is the approach I am taking. Even the Eur/gbp is moving over 200 pips a day. It has only gone over 150 7 times in 7 years. This week it has gone over 200 three times. That is how volatile the markets are right now.

I am only trading these pairs because they are staying within the range of my EA right now and I am not trading the morning USA session. CHF/JPY, EUR/CHF, EUR/GBP, EUR/USD, GBP/USD, USD/CHF, USD/JPY, and I am risking the EUR/JPY. I also took 1000 dollars out of my account and am trading 1000 instead of the 2000 I started with. That is what I am willing to risk for now. If I wipe out I will wait for the markets to settle and go back again.
  • #1,171
  • Oct 9, 2008 5:40am Oct 9, 2008 5:40am
I chose 8 levels because that is as far as I want my losses to go. After that you can be looking at seriously damaging your account.
  • #1,172
  • Oct 9, 2008 7:52am Oct 9, 2008 7:52am
It looks like the eur/aud is going wacko again. It will be interesting to see how my account is handling it when I get off work.
  • #1,173
  • Oct 9, 2008 8:13am Oct 9, 2008 8:13am
Thanks for the explanation, Bob.

I thought I would run that idea by you and see what you had to say about it.

I agree with your idea about just setting certain volatile pairs aside for awhile and wait for them to settle down.

Keeping the EA settings the same as they are may be the best, since you have tested and found them to be the best so far. And what you said about the risk/reward makes sense too.

I'm like you, I am out of anything that crosses with CAD and I'm stuck in the NZDUSD now but I will drop that too when I can.

These markets are just insane right now. I try to keep in mind that standing aside is a position too.

Good luck to you,
PD
  • #1,174
  • Oct 9, 2008 8:45am Oct 9, 2008 8:45am
These markets are just insane right now. I try to keep in mind that standing aside is a position too.

The hardest lesson I have ever learned and I have had to lose a lot of money learning it is "dont trade" I did not make money in this business until I learned there are times you just dont trade. It sometimes is the best and safest position. Tonight was a good example, I had a good day and have pocketed 47 dollars trading at .02. I said alright lets keep going but I said I am not going to trade the US session right now so I closed and will wait until 11 or 12. I will check to see if the stock market is going crazy or not and then turn on my EA. If the stock market is going nuts, I will not trade. That is how you keep your capital. Good luck and thanks for all your input.
  • #1,175
  • Oct 9, 2008 8:54am Oct 9, 2008 8:54am
Quoting PistolDave
Thanks for the explanation, Bob.

I thought I would run that idea by you and see what you had to say about it.

I agree with your idea about just setting certain volatile pairs aside for awhile and wait for them to settle down.

Keeping the EA settings the same as they are may be the best, since you have tested and found them to be the best so far. And what you said about the risk/reward makes sense too.

I'm like you, I am out of anything that crosses with CAD and I'm stuck in the NZDUSD now but I will drop that too when I can.

These markets are just insane right now. I try to keep in mind that standing aside is a position too.

Good luck to you,
PD
I am trying an idea similiar to yours. It is the 60/45. I gave it a little more range and it needs a smaller retracement to take profit, however the multiplication is 1.8 instead of the 1.5. If you keep that thing within the 3-400 pip range it makes good money but if you go outside the range the losses pile up much faster than the 100/40. I got killed on the Eur/aud using that EA, if it wasnt for that I would have made some serious money by now. Now I am recovering from that one trade. So again if I keep it with the pairs I just mentioned it probably would do well. I am demoing it again, I took it off of live trading.
  • #1,176
  • Oct 9, 2008 10:26am Oct 9, 2008 10:26am
Quoting nanningbob
These markets are just insane right now. I try to keep in mind that standing aside is a position too.

The hardest lesson I have ever learned and I have had to lose a lot of money learning it is "dont trade" I did not make money in this business until I learned there are times you just dont trade. It sometimes is the best and safest position. Tonight was a good example...

If only I could get this lesson to stick in my thick skull. I made up about $100 last night while I slept. I kept my settings to 0.01. $100 is quite a lot considering that small of a lot. I found my out and now I'm done for the week. Bob, I'm thinking about putting in some code that will analyze the market and prevent the EA from placing orders, and also an option to have it close all orders upon certain levels of ranging. I know this should ideally be a manual concept, but I'm the fool who likes to let this EA ride while I'm at work. It would be nice to have it shut down if things get crazy.
  • #1,177
  • Oct 9, 2008 10:43am Oct 9, 2008 10:43am
Hi Guys,

May i know the time stated on the EA is referred to which time zone? Broker's time? GMT? EST?

Thanks.
Attached Image (click to enlarge)
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May the pips be with me !!!
  • #1,178
  • Oct 9, 2008 11:06am Oct 9, 2008 11:06am
Quoting ahlude
Hi Guys,

May i know the time stated on the EA is referred to which time zone? Broker's time? GMT? EST?

Thanks.
It's the time of your MT4 program. For some of us (like me), our MT4 time is set to GMT. Those numbers by default are assuming the use of GMT in your MT4 program. If you are wanting to use the trading hours, be sure to test things out on a demo account before going live to make sure that you adjusted the hours correctly.
  • #1,179
  • Oct 9, 2008 5:29pm Oct 9, 2008 5:29pm
Quoting FrostCall
If only I could get this lesson to stick in my thick skull. I made up about $100 last night while I slept. I kept my settings to 0.01. $100 is quite a lot considering that small of a lot. I found my out and now I'm done for the week. Bob, I'm thinking about putting in some code that will analyze the market and prevent the EA from placing orders, and also an option to have it close all orders upon certain levels of ranging. I know this should ideally be a manual concept, but I'm the fool who likes to let this EA ride while I'm at work. It would be nice to have it shut down if things get crazy.
So how are you going to do that? By the time you analyze that the market is going over 400 points for the day you are already 8 levels deep. If I knew today the GBP/JPY was going to move 1000 points of course I wouldnt turn on the EA. How are you going to program a future prediction into a program?

The problem is not the EA, the problem is we are in record breaking territory that has never happened before. The Stocks are now down 40% from their high of a year ago. People are being wiped out, companies are crashing, and the stability of some governments is now being tested. Imagine GM, the greatest American company of the last 100 years is in danger of being wiped out. That is how bad it is getting out there, making changes in the EA is not the solution. Preservation of capital is and the best preservation of capital is NOT TRADING. Guys please heed my warnings, NOT TRADING is a position of trading.
  • #1,180
  • Oct 9, 2008 5:38pm Oct 9, 2008 5:38pm
GM led the Dow lower, falling $2.15, or 31 percent, to $4.76, while Ford fell 58 cents, or 22 percent, to $2.08

These company stocks are becoming worthless.

"Everything we're seeing is historic. The problem is historic, the solutions are historic, and unfortunately, the sell-off is historic. It's not the kind of history you want to be making."

The Dow ended the day at its lows, finishing down 678.91, or 7.3 percent, at 8,579.19. The blue chips hadn't closed below the 9,000 level since the June 30, 2003.
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