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[EA Request] Simple EA needed

  • #1
  • First Post: Dec 2, 2008 3:12pm Dec 2, 2008 3:12pm
Hey Guys,

I'd like to have an EA that does the following.

1. Checks account balance divides it by 1000 and by 32.
Stores this in a variable and uses it as Lotsize.
Example: 10000$/1000/32=0.31 Lots. So the result has to
be rounded to 2 points.
2. Places a trade (you can choose LONG only or SHORT only in the parameters) with fixed TP no Stoploss.
3. After TP is hit. Start with 1. since balance has increased now
Lotsize should grow exponentialy while keeping risk the same since
you always divide by 1000 and 32.

That's basically it.
What would be interesting, if the trade direction is determined by a Random Function instead of long or short only. But that's just not a must for now.
Later we could include a MA filter. I have another idea for order placement but I don't want to ask for too much now.
After 250 Homeruns with 30 TP the balance should have increased over 1000% so you only need to let the last trade come home.
I only want a proof of concept for now.


Anyone interested?
  • #2
  • Dec 2, 2008 5:42pm Dec 2, 2008 5:42pm
Wouldn't one trade that never hits the TP completely run your account into the ground? At the very least, you'd have to make sure that the parameter (long or short) was going in the direction of the trend. Otherwise the first trade could end your account.

If you're planning to implement this with a PA type of "system" (I'm thinking of something like Jacko) then I can see the value in this. Otherwise, it sounds horrible.
  • #3
  • Dec 3, 2008 12:38am Dec 3, 2008 12:38am
Your stoploss is 3400 Pips due to your position size.
I managed to increase a demoaccount by 70% in just over a month just
by randomly placing orders. That was with ~60 consecutive winners not taking care of the overall trend. For that we could later add an MA filter.

Do you want to take a bet?
I say. Price is very likely to go 30 Pips higher anytime instead of plummeting
3400 Pips and never coming back. Who would bet against me?
Isn't Forex all about Probability?
  • #4
  • Dec 3, 2008 1:31am Dec 3, 2008 1:31am
Quoting Tjpld
Your stoploss is 3400 Pips due to your position size.
I managed to increase a demoaccount by 70% in just over a month just
by randomly placing orders. That was with ~60 consecutive winners not taking care of the overall trend. For that we could later add an MA filter.

Do you want to take a bet?
I say. Price is very likely to go 30 Pips higher anytime instead of plummeting
3400 Pips and never coming back. Who would bet against me?
Isn't Forex all about Probability?
hi Tjpld,

which pair your demo?

I think the Ea can be easily done.
But after one trade, if it goes the other way, do we wait till it come back to our direction? What is your drawdown in this case?
  • #5
  • Dec 3, 2008 6:37am Dec 3, 2008 6:37am
You only have one open trade at a time.
So once a trade is in place we wait for the TP to be hint.
Otherwise we won't do anything.
I tried it on demo EUR/USD. I used some Rainbow MA's to guess the short term trend in started throwing in orders which where either taken out imediatelly or after one or two days maximum. It was really easy to double the account which took me about 75 trades. Often I managed to get 3 trades during a day.
If you place a long trade now you'd have to wait for it to fall down 0.92xx in order to stop you out with a margin call, which is probably a safe bet that it's more likely to get to our TP first.
The key is to increase the position size gradually with every new trade.
If we don't do that our journey will take longer than necessary.

It should look like in my little excel sheet.
Attached File(s)
File Type: xls sheet.xls   134 KB | 472 downloads
  • #6
  • Dec 3, 2008 7:27am Dec 3, 2008 7:27am
I just love the concept

which TF where you testing it on?
  • #7
  • Dec 3, 2008 8:02am Dec 3, 2008 8:02am
Wouldnt it be smarter to put trades at the beggening of the week,
cos the price tends to be above or below the weekly open!???
something like stiviet do, and just let the profit run....
forexflash
  • #8
  • Dec 3, 2008 8:05am Dec 3, 2008 8:05am
Tested it on M15 Timeframe. Maybe it would be better to watch the trend on higher timeframe so the probability that your trades will get taken out sooner or later is higher. I was able to reproduce these returns with ease on the Trading Simulator multiple times. No Strategy is worth trading if there isn't any sign that you can do it consistently.
  • #9
  • Dec 3, 2008 9:03am Dec 3, 2008 9:03am
the problem is if you get on the wrong side of the trade it could take forever before you can close that trade... and since you are having 1 trade at the time... nothing is going to happen.

what TP were you using?
  • #10
  • Dec 3, 2008 10:17am Dec 3, 2008 10:17am
30 Pips TP. For this we trade the overall trend.
Even if it takes longer chances are high that your TP will get triggered by volatility.

I've experimented a bit you could also open both directions with your calculated lot size so there is never more than one open trade at a time.
Example:
LONG and SHORT at the same price with TP 30.
- Short gets taken out. Balance increased because of the profit. New short with new (slightly higher) position size is opened. The long side is kept open. If you substract the new lotsize from our second short trade from the first lotsize of the long trade you have your exposure which should be probably just a few microlots. e.g 1.83 Long 1.92 Short = 0.09 Lots Short.
Now price reverses and takes out the old long. New long is opened according to current balance. Short still open. And so one. You will always have a side that's winning so your balance will increase forever there is no trade that will eat up your margin because 1. position size is small and 2. You will trade both sides at the same time so you are hedged to some degree. ( Not fully all the time because the sell side might increase more when price is falling and hitting the sell TP over and over again and the long is open with the old Lotsize.)
At the end you only have to wait for one trade to come back.
Risk should be extremly low.
But that's just a thought wich I'd like to test out.
First I'd be happy with what I've explained in my first post.
  • #11
  • Dec 3, 2008 5:19pm Dec 3, 2008 5:19pm
Quoting Tjpld
30 Pips TP. For this we trade the overall trend.
Even if it takes longer chances are high that your TP will get triggered by volatility.
See, now you're changing what you had in your original post . Which is good, because, quite frankly, your first post about a trade in a random direction was just plain stupid.

If you trade with the overall trend and take profits X pips at a time, I can see the value in this. However, it's still risky because (as someone else pointed out) you could wait a while for it to come back to you. Also, if you're trading with such small pip TP, then timeframe does not matter, this would require tick-by-tick testing on any TF.

I would change your original requirements to:
1 - Have a parameter for LONG or SHORT - trader sets this to the overall trend
2 - Open a trade and have a small TP like 10Pips, no SL
3 - When the TP is hit, open a new position, same direction
4 - When the current price is more than X pips "away" from your open order (i.e. you're losing money) open another trade, same direction. I would probably set this at around 1000 pips. If you still believe in the overall trend, the second trade should help bail you out.
  • #12
  • Dec 4, 2008 12:23am Dec 4, 2008 12:23am
10 Pips TP is to small. This would mean we have to get 3x 250 = 750 Winners for 1000% and 3x 75 = 225 Trades just to double it.
I've tested my bidirectional concept for the last days which was really easy to manage and my balance keeps increasing (along with equity) which adds margin to my remaining order. Ofcourse after you managed to get from 10k to let's say 40k you'd not let a trade get you down under 10k again. But that's unlikely to happen. Since you are only exposed by (Lotsshort - Lotsbuy).
The random trade was because I wanted to see if a coin toss system could make you money.
  • #13
  • Dec 4, 2008 1:58am Dec 4, 2008 1:58am
Quoting Tjpld
10 Pips TP is to small. This would mean we have to get 3x 250 = 750 Winners for 1000% and 3x 75 = 225 Trades just to double it.
I've tested my bidirectional concept for the last days which was really easy to manage and my balance keeps increasing (along with equity) which adds margin to my remaining order. Ofcourse after you managed to get from 10k to let's say 40k you'd not let a trade get you down under 10k again. But that's unlikely to happen. Since you are only exposed by (Lotsshort - Lotsbuy).
The random trade was because I wanted to see if...
Hi Tj,

great, I did a quick EA for back testing your idea.

I did it only sell, TP30. Since mine is mini account with LiteForex, the smallest allow lot size is 0.1. I tweak a bit that after every TP, the lot size just increase by plus +0.1 more.

month of august, the trend is down, so sell make the account growth.
I will try buy and see whether it is mc.
  • #14
  • Edited 2:15am Dec 4, 2008 2:04am | Edited 2:15am
Wow thanks.
I'm happy to see some progress.
Yes it's rather hard to backtest because at one point you'd
reverse our order placement. The only scenario where you would have
gotten dangerously close to a margin call if you had opend a BUY
right at the alltime high.
Does the lotsize managment work?
So every new order has a higher lotsize just like in my spreadsheet?

Maybe my bidirectional Idea could be done just by putting
a Sell only on one chart and a buy only on the other.
If the TPs are hit every one takes a look at the new balance.
  • #15
  • Dec 4, 2008 3:16am Dec 4, 2008 3:16am
I always like ideas outside the square. Try this ea.
Attached File(s)
File Type: mq4 Tjpld.mq4   3 KB | 599 downloads
  • #16
  • Dec 4, 2008 5:27am Dec 4, 2008 5:27am
Quoting Tjpld
Wow thanks.
I'm happy to see some progress.
Yes it's rather hard to backtest because at one point you'd
reverse our order placement. The only scenario where you would have
gotten dangerously close to a margin call if you had opend a BUY
right at the alltime high.
Does the lotsize managment work?
So every new order has a higher lotsize just like in my spreadsheet?

Maybe my bidirectional Idea could be done just by putting
a Sell only on one chart and a buy only on the other.
If the TPs are hit every one takes a look at the new balance.

This both graph shows the idea depends on the trending months.

If buy only, the order price push to the upper limit, it goes to the high of the month and price never comeback, maybe after few months.

If trending is correct direction, the account make very profitable growth.

FOr BUY only in Oct08, deposit 10000, results AccountEquity: -9970
For SELL only in OCt08, deposit 10000, results:AccountEquity: 33332

if 2 accounts open, net would be :+23332
Attached Image(s) (click to enlarge)
Click to Enlarge Name: ifbuyonly_Oct08.GIF Size: 12 KB
Click to Enlarge Name: ifsellonly_Oct08.GIF Size: 13 KB
  • #17
  • Dec 5, 2008 3:47am Dec 5, 2008 3:47am
Quoting waltini1
I always like ideas outside the square. Try this ea.
Thanks your help is appreciated.
I will take some time to study.
  • #18
  • Dec 24, 2008 12:14pm Dec 24, 2008 12:14pm
Tjpld,
You need an EA.
I thought you were a programmer.
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #19
  • Jan 10, 2009 1:17am Jan 10, 2009 1:17am
Quoting waltini1
I always like ideas outside the square. Try this ea.
Thanks for this EA.
I see that lot here are increased based on account size. Is it possible to provide a method to set a standard lotsize(0.01 etc.) and multiplication factor for increasing it for successive trades?
"Put all your efforts in becoming effortless"
  • #20
  • Jan 13, 2009 12:15am Jan 13, 2009 12:15am
Quoting IamTHAT
Thanks for this EA.
I see that LotSize here are increased based on account size. Is it possible to provide a method to set a standard lotsize(0.01 etc.) and multiplication factor for increasing it for successive trades?
Anyone willing to help out on this one? Thanks
"Put all your efforts in becoming effortless"
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