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Scalping the EUR/GBP effectively - Forturama

  • #121
  • Oct 14, 2008 4:38am Oct 14, 2008 4:38am
2007 was not a good year to Martingale:

1. With
2. Without
Attached Image(s) (click to enlarge)
Click to Enlarge Name: TesterGraph_2007.gif Size: 11 KB
Click to Enlarge Name: TesterGraph_prince_2007.gif Size: 8 KB
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  • #122
  • Oct 14, 2008 5:20am Oct 14, 2008 5:20am
thare http://www.mql4.com/ you can find much good ideas and for build nice system forscalping, good luck
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  • #123
  • Oct 14, 2008 12:47pm Oct 14, 2008 12:47pm
Hi again,


I've tested your strategy with EA for a while (no martingale, i don't like it).

Results so far (forward test, result could be better with a broker like alpari):

Winning trades: 16
Losing trades: 3

However, there is still the problem, that EA does open more trades than one at the same time.

If this gets fixed, i'm ready to do a live forward test with microlots for the rest of the year, and then maybe more

Forturama, do you know when this problem will be fixed?

Greetings


Michael
  • #124
  • Oct 14, 2008 1:04pm Oct 14, 2008 1:04pm
I tried the EA with a higher tp, 10 pips instead of 5, so far so good. Then the risk/reward ratio gets much better Have anyone else tried this? Can it be more profitable? I'll keep posting results here. Perhaps the results won't be completely fair, since I'm trying the two settings on both FXDD and IBFX, and they sometimes seem to give different signals.

Last night:

TP 10 pips SL 13 (FXDD): 1 trade, +10 pips
TP 5 pips SL 13 (IBFX): 2 trades, 2*5 pips = + 10 pips
  • #125
  • Oct 14, 2008 2:09pm Oct 14, 2008 2:09pm
Mfk,

I am sorry about this problem, but I have never seen it.

I trade withe RSI_PRINCE without problem.

Could you tell us what is your broker and what are your configurations?


I can not solve the problem since I do not found it.

Try an IBFX demo.

PS: I am IBFX REAL money.

Quoting mfk
Hi again,


I've tested your strategy with EA for a while (no martingale, i don't like it).

Results so far (forward test, result could be better with a broker like alpari):

Winning trades: 16
Losing trades: 3

However, there is still the problem, that EA does open more trades than one at the same time.

If this gets fixed, i'm ready to do a live forward test with microlots for the rest of the year, and then maybe more

Forturama, do you know when this problem will be fixed?

Greetings


Michael
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  • #126
  • Oct 14, 2008 2:11pm Oct 14, 2008 2:11pm
Unfortunately I can not edit my first post.

I am using now: SL = 18 ; TP = 9.

This give me a RR ratio of 1/2.

We have to find a broker with smaller spread.

Next month I will send money to Alpari: 2 pip.

Quoting Archie
I tried the EA with a higher tp, 10 pips instead of 5, so far so good. Then the risk/reward ratio gets much better Have anyone else tried this? Can it be more profitable? I'll keep posting results here. Perhaps the results won't be completely fair, since I'm trying the two settings on both FXDD and IBFX, and they sometimes seem to give different signals.

Last night:

TP 10 pips SL 13 (FXDD): 1 trade, +10 pips
TP 5 pips SL 13 (IBFX): 2 trades, 2*5 pips = + 10 pips
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  • #127
  • Oct 14, 2008 2:13pm Oct 14, 2008 2:13pm
Tonight I will test RSI_PRINCE with Trailing stop.

When trade reaches +9 pips SL goes to +9 pips.

After this I will trail stop each 4 or 5 pips.

Let's see what happens.

Quoting Archie
I tried the EA with a higher tp, 10 pips instead of 5, so far so good. Then the risk/reward ratio gets much better Have anyone else tried this? Can it be more profitable? I'll keep posting results here. Perhaps the results won't be completely fair, since I'm trying the two settings on both FXDD and IBFX, and they sometimes seem to give different signals.

Last night:

TP 10 pips SL 13 (FXDD): 1 trade, +10 pips
TP 5 pips SL 13 (IBFX): 2 trades, 2*5 pips = + 10 pips
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  • #128
  • Oct 14, 2008 3:15pm Oct 14, 2008 3:15pm
Hello Forturama,

here are 3 Trades at the same time:

436399042008.10.13 05:49sell0.10eurgbp0.79800.79930.79752008.10.13 05:490.79750.000.000.008.45
436401162008.10.13 05:49sell0.10eurgbp0.79580.79710.79532008.10.13 05:490.79530.000.000.008.44
436409932008.10.13 05:49sell0.10eurgbp0.79550.79680.79502008.10.13 05:540.79500.000.000.008.47

All ended in profit, but could have been losses as well. And i feel not comfortable with having three trades open at the same time.

I think it's the same problem archie described (ea is opening more trades at same signal).

I'm also using RSI Prince with TP 5 SL 13 trading at FXDD, but will trade at alpari when it comes to live trading.
  • #129
  • Oct 14, 2008 4:54pm Oct 14, 2008 4:54pm
The problem archie talk about is not the same.

He is talking about trading a signal that has already lost money. But not simultaneously.

What is your broker and your windows version?

Quoting mfk
Hello Forturama,

here are 3 Trades at the same time:

436399042008.10.13 05:49sell0.10eurgbp0.79800.79930.79752008.10.13 05:490.79750.000.000.008.45
436401162008.10.13 05:49sell0.10eurgbp0.79580.79710.79532008.10.13 05:490.79530.000.000.008.44
436409932008.10.13 05:49sell0.10eurgbp0.79550.79680.79502008.10.13 05:540.79500.000.000.008.47

All ended in profit, but could have been losses as well. And i feel not comfortable with having three trades open at the same time.

I think it's the same problem archie described (ea is opening more trades at same signal).

I'm also using RSI Prince with TP 5 SL 13 trading at FXDD, but will trade at alpari when it comes to live trading.
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  • #130
  • Oct 14, 2008 5:05pm Oct 14, 2008 5:05pm
I have a quick question. Can someone please tell me what time I should be trading this system if I live on the west coast of the usa?
  • #131
  • Oct 15, 2008 3:12am Oct 15, 2008 3:12am
I'm trading this EA at FXDD Demo Account. OS is Windows XP.
  • #132
  • Oct 15, 2008 6:53am Oct 15, 2008 6:53am
Could you send me a copy of EA.

My mail is [email protected]

I will test it.

I think I know what is the problem.


Quoting mfk
I'm trading this EA at FXDD Demo Account. OS is Windows XP.
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  • #133
  • Oct 15, 2008 7:52am Oct 15, 2008 7:52am
There is a post about this with an useful link.


Quoting Dl1982
I have a quick question. Can someone please tell me what time I should be trading this system if I live on the west coast of the usa?
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  • #134
  • Oct 15, 2008 10:00am Oct 15, 2008 10:00am
Hi,

Yes Forturama is right. The problem has not been that there are several trades at the same time, but almost at the same time. The signal given will cause the EA to take several orders, sometimes this has happened simultaneously, but most often it happens with a couple of minutes in between.

I have set up the EA with several different settings, the original settings gave two positive trades during the night. I will post the other results soon.

Quoting Forturama
The problem archie talk about is not the same.

He is talking about trading a signal that has already lost money. But not simultaneously.

What is your broker and your windows version?
  • #135
  • Oct 15, 2008 10:03am Oct 15, 2008 10:03am
Fortu, my simply/fast way to determine if Martingale is good:

select a year, say, 2007, (i tried the other few years too.)

then use martingale, i found that the losing trades of martingale are much more than winning trades.

therefore, martingale is bad.

i tried varied tp/sl ratio, martingale is anyway bad.

**************************************

so what does this imply?

this implies that if your original system (without martingale) produces a losing trade. That losing trade is for sure a failure, and usually go against you for many pips. In that case, martingale simply expand the exposure to loss instead of profit.

**************************************

so you may want to consider martingale this way:

programming logic:
{
see if in trading history there is a losing trade YESTERDAY
if yes, double your usual lot size, say 0.1 lot x 2
if no, use usual lot size, say 0.1 lot
}


Quoting Forturama
2007 was not a good year to Martingale:

1. With
2. Without
  • #136
  • Oct 15, 2008 2:03pm Oct 15, 2008 2:03pm
Charvo,

Good Idea.

But you should consider that if there is a problem yesterday, this may mean that the system is entering a bad period, so we should not decrease the lot size instead of increase it?

Any way I gave up of Martingale.

Quoting charvo
Fortu, my simply/fast way to determine if Martingale is good:

select a year, say, 2007, (i tried the other few years too.)

then use martingale, i found that the losing trades of martingale are much more than winning trades.

therefore, martingale is bad.

i tried varied tp/sl ratio, martingale is anyway bad.

**************************************

so what does this imply?

this implies that if your original system (without martingale) produces a losing trade. That losing trade is for sure a failure, and usually go against you for many pips. In that case, martingale simply expand the exposure to loss instead of profit.

**************************************

so you may want to consider martingale this way:

programming logic:
{
see if in trading history there is a losing trade YESTERDAY
if yes, double your usual lot size, say 0.1 lot x 2
if no, use usual lot size, say 0.1 lot
}
{Promotion Removed}
  • #137
  • Oct 15, 2008 2:05pm Oct 15, 2008 2:05pm
Are you sure about two good trades?

I lost 20% of my account with 2 bad trades.

there was a last trade but I close it manually (It would be a winner, I hate this!).

I use: TP = 9, SL = 18.

Quoting Archie
Hi,

Yes Forturama is right. The problem has not been that there are several trades at the same time, but almost at the same time. The signal given will cause the EA to take several orders, sometimes this has happened simultaneously, but most often it happens with a couple of minutes in between.

I have set up the EA with several different settings, the original settings gave two positive trades during the night. I will post the other results soon.
Attached Image (click to enlarge)
Click to Enlarge Name: eurgbp_15102008-1.gif Size: 18 KB
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  • #138
  • Oct 15, 2008 2:28pm Oct 15, 2008 2:28pm
Smaller is your TP greater the % of effective trades (long and short).

Try this:

Initial capital = 1000

SL = 28
TP = 8
MM = true
Capital divisor = 300

Impressive!
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  • #139
  • Oct 15, 2008 2:59pm Oct 15, 2008 2:59pm
I guess that this will impress you for a short period, but kill the account fast also in a short period.

the magic of this system is to allow a bigger SL vs a smaller TP to gain high winning ratio.

however, we'd better not to abuse it. 8/28 is like less than 1/3. 1 loss will kill more than 3 wins.

You test it for 3 years, and you'll see what i mean.

15/20, 8/12, 20/35, these tp/sl are much safer.

Quoting Forturama
Smaller is your TP greater the % of effective trades (long and short).

Try this:

Initial capital = 1000

SL = 28
TP = 8
MM = true
Capital divisor = 300

Impressive!
  • #140
  • Oct 15, 2008 3:54pm Oct 15, 2008 3:54pm
Hi,

I've set up several settings and I am testing them simultaneously to determine the best TP and SL. I tried your settings with 9/18 and they gave two losing trades and one winning trade, but the original settings produced four winning trades and one losing trade, sorry about my last post that said two winning trades, that was the night before.

Last night this was the results:

TP 5 SL 13 4 winning trades, 1 loss
TP 10 SL 10 3 winning trades, 3 losses
TP 10 SL 13 2 winning trades, 4 losses
TP 9 SL 18 1 winning trade 2 losses

I will also set up one EA with 5/10, so that one loss equals two winning trades, and one setting with 5/5, so that the risk-reward ratio will be 1. I'll keep posting results. Does anyone have experience with a sl that is as low as 5 pips? Probably the sl will be hit most of the times, but there's no risk in trying in demo


Quoting Forturama
Are you sure about two good trades?

I lost 20% of my account with 2 bad trades.

there was a last trade but I close it manually (It would be a winner, I hate this!).

I use: TP = 9, SL = 18.
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