Is This My Holy Grail EA :D

Quoting nanningbob

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Thank you for your polite comments. I am going to use some of your comments to teach some things. Hope you dont mind.

Again as I have shown and proven before back testing is faulty and not reliable. Test the EA live all week and then run it on a back test for the same week and you will get different results. This can be caused by several reasons:

1. gaps which show up in live testing but not back testing
2. spreads widen and narrow which is not picked up by back testing.
3. Live testing is pip by pip back testing is not. Even though the little box says it is pip by pip it does not back test pip by pip. The longer you back test the bigger the time frame it uses. If you dont believe set it for 1M and see how far it will back test the 1M chart. You will get two weeks maybe three. After that you have to use a bigger time frame. To go back years it only uses 4H, 1D or even 1W candles. This totally distorts your data and gives you inaccurate results. People have developed EAs and junked them because of back test results not realizing that in the real world their EA probably might work. Probably 99.9% of traders do not realize this.
4. Your definition of an EA is: \"And in my thinking, best EA is if you dont interfere manually so much or dont interfere manually at all.\" I dont care what your definition of an EA is, the only definition of an EA that matters is: DOES IT MAKE A PROFIT???
5. My EA makes a profit if you use it properly
6. You cannot ever get rid of a death trade, so learn to deal with it and you become a successful trader. Every EA or typical live trader stops a death trade by using a stop loss. Our stop loss is to end the death trade when it goes outside the range of the EA. With my new indcator setup we may find we can stop it before then. Testing will tell. That is the only difference.
7. I have yet to see any system that does not have losing trades at some point. This one is no different. It is not having losing trades that makes a system good or bad, it is how you handle them that makes you a success or failue in forex trading. If you cant deal taking losses get out, this business is not for you.
8. \"One thing that I dont really like about the martingale EA type is the profits accumulated is small yet when come to death trade, it eat the previous profit quite a lot and most case can rip all accounts too.\"
NO, profits are quite comfortable, its the greed that kills you, wanting the big profits that is what detroys martingale trading. However, this system is not a true martingale system.

The 100/40 is a modified martingale system that follows the daily trend using a multiple reentry system. Martingale system uses a mulitplication of 2 to make it work and continues until they run out of money or they get the retracement they want. This uses a 1.5 reentry multiplication 8 level system, that follows the daily trend. If we dont get our profit in 8 levels we get out. That is our stop loss. There is a trading skill and IT IS A SKILL to exit a losing trade. But at no time does it kill an account unless you are trading too large of lots or you are not paying attention.

Large traders who trade millions or billions of dollars actually use a similar system. They do not enter the market and put a 20-50 pip stop loss on their trades. They enter the market based on fundamentals and some indicators but not all at once. If the trade goes against them they reenter but they add more to their trade. If the trade goes for them they then add to the trade. We just take our profits and reenter because this is not a long term trading system but it is not a scalping system either.

The 100/125 is also a similiar system but it trades both a buy and sell at the same time. It is designed to trade within a range and is a range trading system. It was also designed to trade within the bigger moves of the market. It hedges itself and takes proft going one way to offset the drawdowns. It is not as profitable as the 100/40 so far but we are working at making it better.

Once again if you think this is just a martingale system, you are mistaken it is much more than that. It is a complex system with ratios, exponential math, currencies ranges, etc. but to simplify everthing for those that dont need to know all the technical stuff, use the EAs with the new indicator.

1. Turn it on when you are between the two white lines.
2. Be happy when it stays between the green lines, you are making money.
3. If you go outside the green lines and you are with the trend on the 100/40 do lots of smiling you are making money.
4. If you are going against the trend and go beyond the green lines, begin planning your exit.
5. If you go past the pink line. You face the death trade.
6. If you enter outside the green or pink lines and it reverses and goes past the yellow or white lines look for an exit.

Thats it folks, Nothing personal guy, you just gave me a comment I could teach from.

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Quoting xchbn

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Dear Bob,
I've added the PB autopivots 4.0 to all my currencies.And I don't know how to do if some of them are between \"the two white lines'' and some of them are not.
Do I must wait till all of them are suitable TOMORROW? Or I 'd better only open the suitable currencies?

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Quoting akukaya

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Thanks for lengthy comments or I like to take it as advise. No personal, and I like discussion.

I can say that your comment about backtest is maybe right.
I do believe the back test at M1 is never accurate and live demo will tell more about the EA results. This I agree.

BTW, just for info, my test is not at m1, I use at h1 and i did it by select day to day. Then i check the results at price it takes and next price, SL, TP, the increments pips, etc. Just to sure it follow the EA intention.
I know backtest not consider the big spread(which i think should be better without big spread) and model accurate is 90%(not 100%).

But if the EA is based on price movement, not indicators driven, at least we can see from past data how the trend/either the EA will get caught with death trade or not. That's why I still test with back test with this EA.

I understand back test results will somehow not accurate as demo/live results. I will try next week with live demo and compare it with back test and to see whether the different is much or not. At this point, i still think for this kind of EA, back test can still predict how the live one will be.
Just express my thinking.

Thanks again Bob, I hope someday I can contribute in making the EA better.

p/s; I got some idea comment from Hendrick in his Autotrade 2008 competition. He point out that using few MAs in MTF(example 20,30,40 MA at M1, M5,M15,M30,H1,H4,M1) and define x numbers of MTF to define it is in UP or DOWN trend).

Not sure this can be good to determine the correct trade move of this EA.

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Quoting Toothman

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I was using a penny a pip on a $3000 account with my testing. At level 15, trading only EUR/AUD my worst drawdown this week was $407(about 13%) and last week $411.The total gain for the two weeks was $3294 .The last two weeks were probably the most volatile two weeks in history so I don't see a whole lot more than this to the downside. Not saying this is the way to trade this EA. Just throwing out some observations.

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Quoting nanningbob

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I want to thank Lincoln for asking a key question, it got me thinking and finally I said \"Why not?\" So Lincoln this is what happened. I thought the 100/40 is successful with a 3-400 pip range why not a 600 pip range EA. So I took the 100/125 and changed it to 4 levels and put in a 600 pip stop loss. (The stop loss operates from the EA I would like someone to design the stop loss to be posted at their trading company)

Now we trade both ways, use currencies that dont go over 600 pips in one day. (use the same currencies recommended in the original post of the 100/125) It takes profit as it goes one direction but the account increases debt until the market switches direction then WOW the profit overtakes the accumulated debt and you have profit. Without that 5th level you can add to the starting lot and make more money. You only have to worry about trades that go over 600 pips but we are stopping them at 600.

Those of you who have an account where .01 is ten cents you could try it with this and see how it works. I am posting two versions of this EA. One is set at .04 for those who can trade with pennies. This will give you a 4 cent trade, see red figures below. The other is the 1.4 (.01) it will trade .01 lots one penny on penny accounts .10 on dime accounts. Check your MT4 to make sure which one you are doing. I traded the 1.4 for one day and knocked down over 200 dollars on a 1200 account. That was real money not demo. Below are the figures, the red ones are the 4 levels for ver. 1.04 and the green ones are for the version 1.04 (.01)

.01 .02 .03 .04 .05 .10
.03 .06 .09 .12 .15 .30
.09 .18 .27 .36 .45 .90
.27 .54 .81 1.08 1.35 2.70

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Quoting Leomeister

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The idea to choose +$1 for a global close/open was because this seemed to be at the top of the P/L cycle for 50+40. This experiment is just a seat-of-the-pants use of available tools to see if this P/L cycle could be used to provide a semi-regular re-alignment of trades. .........................

.........I don't know that this is the solution to the 'death trade' but more a smoothing solution for volatile markets.

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Quoting nanningbob

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I like to keep it simple 1 MA crossing 2 MA seems to work well on a daily chart. Let the EA do all the other stuff.

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Quoting nanningbob

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I want to thank Lincoln for asking a key question, it got me thinking and finally I said \"Why not?\" So Lincoln this is what happened. I thought the 100/40 is successful with a 3-400 pip range why not a 600 pip range EA. So I took the 100/125 and changed it to 4 levels and put in a 600 pip stop loss. (The stop loss operates from the EA I would like someone to design the stop loss to be posted at their trading company)

Now we trade both ways, use currencies that dont go over 600 pips in one day. (use the same currencies recommended in the original post of the 100/125) It takes profit as it goes one direction but the account increases debt until the market switches direction then WOW the profit overtakes the accumulated debt and you have profit. Without that 5th level you can add to the starting lot and make more money. You only have to worry about trades that go over 600 pips but we are stopping them at 600.

Those of you who have an account where .01 is ten cents you could try it with this and see how it works. I am posting two versions of this EA. One is set at .04 for those who can trade with pennies. This will give you a 4 cent trade, see red figures below. The other is the 1.4 (.01) it will trade .01 lots one penny on penny accounts .10 on dime accounts. Check your MT4 to make sure which one you are doing. I traded the 1.4 for one day and knocked down over 200 dollars on a 1200 account. That was real money not demo. Below are the figures, the red ones are the 4 levels for ver. 1.04 and the green ones are for the version 1.04 (.01)

.01 .02 .03 .04 .05 .10
.03 .06 .09 .12 .15 .30
.09 .18 .27 .36 .45 .90
.27 .54 .81 1.08 1.35 2.70

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Quoting FrostCall

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Depending on the market, you can make or loose $500 a day trading 0.01 lots. I woke one morning to find that I made $600 on 18 pairs a few weeks ago trading pennies. Of course, that is the exception, not the rule. I try to make $50 a day on a $2,000 account, trading 16 pairs at 0.01 micro lots (pennies). If I can do this consistently, I will be rich.

Trading 0.04 lots on a $1,000 account is SUICIDE.

The goal is not to trade more lots, the goal is to trade more accounts. 10 accounts trading 0.01 lots, each making $50 a day is $500 a day. the exponential growth of a greater lot size can REALLY kill your account if you are not careful.

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Quoting FrostCall

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Depending on the market, you can make or loose $500 a day trading 0.01 lots. I woke one morning to find that I made $600 on 18 pairs a few weeks ago trading pennies. Of course, that is the exception, not the rule. I try to make $50 a day on a $2,000 account, trading 16 pairs at 0.01 micro lots (pennies). If I can do this consistently, I will be rich.

Trading 0.04 lots on a $1,000 account is SUICIDE.

The goal is not to trade more lots, the goal is to trade more accounts. 10 accounts trading 0.01 lots, each making $50 a day is $500 a day. the exponential growth of a greater lot size can REALLY kill your account if you are not careful.

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Quoting Romano

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Hi Bob
I downloaded the new EA.
We attached a statement of old.
Now overwrite with the new version.
I hope that will manage the open positions.
I see that you get to accept a loss of 600. OK.
You might try to schedule a balancing rather than a loss.
We attached a word file, which you should already have.
Pistoldave sent you long ago.
If there's some Italian, the text is in Italian and English.
Let me know what you think.
is one of my old idea .........
regards
Romano

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Quoting Leomeister

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Here's an update on a previous suggestion I made. Having played with using the +$1 P/L close for a week, I'm not convinced its worth using. It did dampen profits and losses during the crazy movements of last week. But there are probably better ways to control volatility and extreme movements like Bob's latest wizardry with the S1-R1 Pivot boundaries.

NNgBob, Did you or others compare the performance of the 100+40 expert and the 60+45 this last week? My 100+40 took a $300+ draw down that the 60+45 sailed through without a dip??

Bob were your recommended pairs for the 60+45; EURUSD, GBPUSD, USDCHF, USDJPY, EURJPY(?), CHFJPY, EURCHF, EURGBP, AUDNZD? Using $1000 min. per .001 lot traded.

LeoM

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Quoting toyoproxo

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Bob, when you knocked out over $200 in 1 day on a $1,200 account were you using a starting lot of .01 or .04? I just wanted to clarify so I can start testing this ea?

thanks again

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Quoting Lincoln10

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If I'm not mistaken the white lines on the last PB Autopivots (v3) indicator were based off the R1/S1. On this new version (v4) are they based off the midpivots of R1/S1?

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Quoting nanningbob

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Sorry I didnt answer but at level 15 I dont believe a 3000 account could handle that many levels. If you are using the 100/40 levels 13, 14, 15 would take profit, levels 1-12 would be negative trades. The total of the negative trades could be greater than the profit taken thus defeating its purpose. I just didnt want to do the math but 10 levels is probably the limit for a 1.5 multiplication. You probably would have to increase the multiplication of 1.5 to higher number to get a profit at the higher levels. This then increases the risk and changes the ratios. It would take a lot of work to figure it out, but you can do the math and see what happens. Level 1 is .01 15x40=-6.00
level 2 is .02 14x40 = 560 x2 = -11.20 and so one. Good luck

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