Semi automatic EA (Driven Version)

Hi guys,

Just wanted to share my idea hoping for good feedbacks from all of you guys. So here’s my idea,

I’m busy doing my job since I’m an employee, so I wanted to have a minimum control of my chart, I just want a daily control, secondly there is no EA that works forever since the market is changing overtime so I have to “drive” the EA manually ( set the EA “Long only” or “Short only”). So far it ganerates at least 500pips per month. It's very simple and easy, I’ll show you how.

1. Put the EA on 5 Min chart
2. Put the template and indicator on your daily chart

How to start and “drive” the EA
1. See the major trend on daily chart just like the pic below,
2. When you see the trend down on daily chart, “Drive” the EA “Short only” on your 5 min chart, and vice versa
3. When you see the trend is changing on daily chart then you have to “drive” your EA on 5 min chart accordingly

The goal for this setting is less stress because you don’t trade news and not sit in front of your computer for a long time, just check it once or twice a day.

How to drive the EA Long or Short only, please refer to word file I attached.

For example:
Try to backtest GBPUSD for 1 month period from 1 August 2008 to 31 August 2008, becouse on that month the market shows downtrend from start to end, set the TP to 100pips, drive it short only and u will get approximately +3094pips in a month. FYI..price range for that month is only 1067pips.
Backtest for EURUSD on Aug 2008, for short only, TP 100pips, u will get approximately +2135pips in a month, and price range is only 1029pips.
Then u get a total of 5229pips in a month of Aug 2008 for those two pair.

This system works great depends on your skills to drive this EA.

Please see the discusion link below for better understanding about this setting.
Start from post 2090 page 140 to post 2168 page 145

http://www.forexfactory.com/showthread.php?t=7200&page=140


For u guys if u need a "TRADE SIMULATOR" u can check this link below.
http://www.forexfactory.com/showpost...&postcount=505

Please demo it for at least 2 month before u trade it live to make sure u get all the things right.
0.01 lot size for every $1000, or
0.1 lot size for every $10,000 is a must...!!!!!


I'll try to sumarize this thread continually updated in a word document to make it easy to read.

English is not my default language.

Updates for the system.
We are currently tweaking on how to minimize loss and protect our profits while the EA keep gaining pips. Check the updated system here.
http://www.forexfactory.com/showpost...postcount=1280


Regards
Samurai Power

"Wish us all the good pips in the universe"

Technical question



How do I adjust the EA for 4 digit or 5 digit broker platform?

Try this setting:

5 digit broker platform
SL : 3000 (means 300 pips)
TP : 500 (means 50 pips)
Pipstep : 400 (means 40 pips)

4 digit broker platform
SL : 300 (means 300 pips)
TP : 50 (means 50 pips)
Pipstep : 40 (means 40 pips)


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Why does the EA open many position?

pipstep setting
usually 20 open position at the same time is not normal, maybe u should check the setting for the pipstep.
lets me show u this,the default setting for pipstep is 40 pips, then when u open buy position and then the market goes against u for -40pips, then the ea will open another buy position, it will do the same thing when it touch -80pips and so on. so check your pipstep and adjust it to your broker platform, the default is for 5 digit broker platform.
so according to SL for 300 and pipstep is 40 then maximum open position at a time is 300 devide by 40 is 7 maximum open position at a time.


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Why does my EA is not working?

Perform this check

1. Have u set the EA to "Allow live trading"?
2. Activate the button "Expert Advisor" on the toolbar
3. Make sure there is a "smile icon" next to your EA on the right top of the chart
4. Adjust the setting according to your broker platform
5. Check the internet connection, since this EA needs a very good up time internet connection.


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Can I change the setting for SL, TP and Pipstep? SL is too big for me

Of course yes, as u feel comfort, the point is that I informed u about the major idea of "driving the EA". Just try your optimum setting fits your strategy.


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How do I backtesting this EA?

U have to drive the EA according to the major trend even its on backtest, just exactly when U foward test it. drive the EA each time u find a trend reversal in a spesific day.

Like I mention before, try to backtest it for 1 month on Aug 2008, becouse that month the market shows down move from start to end, drive the EA short only and u will see that.



####################################################################

Non Technical question



What did U do when the major trend reverse?

It depends to the market,I usually look for the daily candle pattern as my other indicator, but when the market is about to change I close all the opening position of course. This is what I do when I noticed and assumed that the market is about to change:

1. Safe way, not trade when the market is in the midle of changing direction, and continue to ride the market when the trend is clear, this avoiding drawdown, just take 7 days trading in a month and you probably got 1000pips. Strongly recomended to use this way.

2. Unload the EA and put SL and TP lower (20 - 40 pips) on the opening position, or close all of the opening position even if its negative, and start to load the EA again according to the major trend when I see the major trend is clear.

3.Still trading when the market is about to change, I use this just to confirm when the market is about to changing, when I see the frofit for the day less than 100 pips or even negative (but often still profit but minimum) that means I have to Drive the EA accordingly. But I dont recomend this, I only use this way on the demo.


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How do u recognize a clear major trend?

Clear down trend
when the chart turns red and the arrow pointing down and the candle pattern confirm it ( I suggest U to learn candle pattern, I got this suggestion from Phillip Nell with his great 4H MACD strategy), thats where the high probability of the next daily candle move down. if one of this indis is not in the line it means that u have to becareful, or much better not to trade, trade 7 days a month is enough to have "maybe" arround 1000pips.
U can use your own indis as u feel comfort.

Clear up trend
vice versa


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Why do you use 300pips for the stoploss?

300 pips is to give space for the market retracment.

from what I know that it is still save as long as u still follow the daily trend, when it's negative dont worry becouse the market will recover it (as long as u follow the daily trend), its normal to have negative open position becouse this EA will open the position on retracment. Let me show u

Lets say the daily trend pointing to move down , but the price dont moves smoothly down right"?,it retrace (against the daily trend for temporary), when it retrace the EA will open position, it means that it will be negative for a while but soon the market will recover your position to positive becouse you follow the major trend.

So make sure that u follow a clear trend.


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If you see the trend is clear so why you have to use this EA?

My experience is that this EA can catch pips more than the market pip range , for example from January 1st Jan to January 7th the price move down for 500 pips, then this EA can catch more than 500 pips from the price retracement, just try this EA on back test for 1 month on Aug 2008 you will see that.


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What pair do you trade?

I used GBPUSD and EURUSD or you can try another pair, just look for the pair that shows a clear trend in daily chart.


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Regards,
Samurai Power

For all of you,

just wanna show you a very good advice from seniors i have read from this forum, I guess you have to read it, specially for newbie.

http://www.forexfactory.com/showthread.php?t=27286
http://www.forexfactory.com/showpost...1&postcount=75

KEEP REMEMBER THAT 95% TRADER FAIL, EMOTION PLAYS CRUSCIAL PART,EVEN THE BEST TRADING SYSTEM IN THE UNIVERSE WILL FAIL IF YOU CANT MANAGE EMOTION, PICK THE SIMPLEST TRADING SYSTEM FITS YOUR RYTHM AND MANAGE YOUR EMOTION THEN SUCCES IS IN YOU HAND.

DETTACH YOUR EMOTION, THINK IT AS A NUMBER NOT MONEY

"EA IS TO MAKE YOUR TRADE EASIER NOT MAKE YOUR LIFE EASIER" so dont put your whole life in it, I call it driven EA and it still needs our brain to make it succes, it is a semiautomatic EA not fully automatic, only part of trading is handled by this EA.

Regards,
SamuraiPower

" I tried to scalp but can't stop peeing in my pants when I see the negative open position" cant control my emotion he..he..

"Wish us all the good pips in the universe"

SamuriPower are you using default settings? Such as the 500TP (I assume it would be 50 for 4 digit broker?)


By the way, I just grapped a quick 16pips on a short. Live (.01 per pip) lol.

thx,
todd

Yes that is true 500 TP means 50 pips for 5 digit broker platform.

My setting for TP is 100pips, becouse the market moves in large range, the rest is still default. please see the detailed statement.


Regards,
Samurai Power

Great Samurai mate...

Its nice you put up new fresh thread to discuss about this EA further...


Have a good weekend everybody

Thank a lot gasgas, nice to see u again here.

Regards,
Samurai Power

Just wanted to share how nicely can pick top spots (for Short here)...

I'm going to try it now

Looks promising , would update soon


P.S : whats 5 digit / 4 digit broker?!

You will not be able to update the second and third page later on, better extend the first one in chapters and delete 2 and 3.

good luck

I've run the expert from 29.1 to 30.1(today) and it shows great profits, but I noticed it is 500 pips T/P and 3,000 pips S/L....


It could destroy your account very fast with this kind of S/L's!


Also, I have an 'X' near the EA while trying to put it on a chat and let it run on live trading... :S

That 3000 sl is probably a 5 digit conversion that equals 300. Likewise tp is probably 50.

It makes me 500 T/P and 3,000 S/L also, EA isn't working, only on Demo... cause I have 'X' on the top instead of a Smiley!

''Allow live trading'' and turn it on. Have to work...

Hi
I have few questions.

How do I backtest for any period if there is trend reversal in between.
Also it seems to trade even if with the setting TradeOnFriday = 0.
You determine the direction based on brokers timezone?

Thanks

Is there a Trailing Stop feature on this EA? Maybe, Im overlooking it...

Thanks soooo much for sharing this with us, Samurai Power! :-)

Thanks cobraforex, i learn a lot from u.

Kindly regards,
Samurai Power

Nice point, me myself just know that this EA can do that.

Regards,
Samurai Power

Karun,

yes, u have to drive the EA according to the major trend even its on backtest, drive the EA each time u find a trend reversal.

Like I mention b4, try to backtest it for 1 month on Aug 2008, becouse that month the market shows down move from start to end, drive the EA short only and u will see that.

I determine the direction based on major trend karun.

Please see the discusion link below for better understanding about this setting.
Start from post 2090 page 140 to post 2168 page 145

http://www.forexfactory.com/showthre...=7200&page=140


Regards,
Samurai Power