Nanningbob 60x90 EA

Tooth,
Simply right click the chart, choose save as. Now it's a gif file on your pc.
In your post here, just go to the manage attachments button below where you type, upload the attachment, and it will attach it to your post.

chart of spike. See where my trade kicked in. Thanks for the help Taz.

I don't have that pair on fxdd, so can't compare with ya

Paradoxical and llambert,

Will do some more testing as suggested a couple of pages back. Gee this thread moves quickly, as I live in Aus and so have to sleep when most of you are replying.

As far as the curves provided, these did include October and spanning weekends. So they're worst case.

Knoxy

Is it possible to get the EA/Indicators to send an email alert when a certain level of trade is opened?

i.e. If i was using 4 levels, firing off an email as soon as a fourth level trade was opened, so that i could drop everything else and concentrate. Same for a 3L system.

I've looked for email alert indys on the forum but can't seem to find what i'm after.

i have a 5 digit broker and my EA opened a first level trade with the correct SL. but the same EA just opened a second level trade on the same pair with a SL of 300 pippettes rather than the 3000 SL i specified in the code. does anyone know why this happened? has it happened to anyone else?? thanks

Nice spike. IMO, spike is like free money if your SL is big enough.

GBP news coming in about an hour, will it push it even higher ? It's interesting to see. Lucky, the only GBP pair i trade is GBPCAD

There's was a level posted a few pages back that does the trick. I've modified by changing the language of the alert to English and added the alerts for 3rd and 4th levels. Here it is.

Brilliant - just the ticket. Thanks mate.

Dear Thread,

1) To get a better idea of the trade levels of a particular currency, why not set the MA at 500 for stability, go through the various timeframes and find the average 500 MA value across all timeframes (so timeframe is not an issue), find the timeframe where that value is approximated, put on the grid at various pip values from center, and test and see how many levels price went against you before it retraced by X amount. This setup would, hopefully, give you a more stable "look" and help you decide your MM and SL and TP points.
2) Is it better to martingale price levels or average price levels ala Spieler? The tradeoffs (there are pluses and minuses both to averaging and martingale-ing): if you average your positions, then you need a bigger retracement but risk less $ overall; if you martingale, then you need a smaller retracement but $ risk more overall. Averaging will buy you more range and more time but a slower recovery; martingaling will buy you less range and less time but a faster recovery if time is the enemy. In other words, would you rather be conservative about the $ risk or conservative about the amount of pip retracement you expect? And then, there needs to be a rule that if you get whacked you have to wait a certain amount of time before you can trade again. This will give you and the markets a chance to calm down.
3) If you look at Knoxy's equity curves, you will see there is quite a bit of danger in the martingaling. The drops after good gains are highly precipitous. One bad progression can wipe out 10 successful ones. Hence, to counteract the disasterous effects of a martingale gone bad, one either needs to average and not martingale in the first place, or, contrarily, in at least one progression that goes to 3-4 levels (whatever the max you trade is), you need to grit your teeth and hang in there and try to TP for the entire amount of what you'd get whacked for if you got stopped out. If you can get whacked, you can also succeed. One progression that reaches 3-4 levels and is then TP-ed for
a major profit will protect the other 10 successful trades from the baleful effects of a rogue martingale.

Lenoxer

Hi,

I was asked for equity curves for 4 level EAs as per the 3 level curves on page 69. Here they are and this time the testing was on every tick for 1 year. This is the best I can do for testing but appreciate some still don't believe the EA testable.

Settings for all are the defaults ie. 90 x 60 with 1,3,9,27 lots. EURCAD still the star. By the way Lenoxer, EURCAD surprisingly shows excellent line with 1,1,1 ie. no martingale.

If interested PM with details of a specific test to run so we don't bore folk.

Knoxy

Dear Knoxy,

I'm sorry but I don't understand what changed from the previous, horrible looking equity curves to the present, better-looking curves. More levels? Greater pip distances between levels? What? All explanations appreciated.

Thanks,

Lenoxer

Yes, yet another email. Sorry, guys, feeling chatty today---

1) Besides EURCAD and EURCHF, all the other USD graphs are awful. Which would mean, it seems, that when price hits the various levels away from center, it would be better to trade in the direction of the move rather than try to fade it. N'est-ce pas?
2) Knoxy, can you do equity curves on non-USD and non-EUR pairs? Say, AUDCHF, AUDJPY, CHFJPY, etc.?

Thanks,

Lenoxer

Knoxy,
Is it possible to eliminate the weekend gap in your testing as we're advised to shut down on fridays?

Knoxy,

Is it possible to eliminate those trade when there is news [interest rate,NFP, etc] in your testing as we're advised to shut down during those news ?

forex,
But what I'm saying is it wasn't quick money since trade didn't kick in until 100 pips later. How can we avoid this .EA's are set with 5 pips slippage so shouldn't that keep you out of this trade? BTW, that trade eventually TP'd.

I've noticed some brokers use what is known as an api. Some of these brokers seem to have tighter spreads (Gain Capital Group). Does anyone know if the settings in these mt4 eas can be programmed into an api?

I've sent you a private knoxy whenever you get a chance.

well this very well could be the case, but if we can find a happy medium then I'm all for it. If a pair hits the stop 20 times a year using the 90 and 4L, but gives you tons of trades to make up for it, and only 1 time a year using my numbers but hardly trades, which is better?...... my thinking is I'd rather never hit a stop. However because it can still hit the stop I really can't go bigger than a penny or a dime, so what's the point. I'd rather have a more reliable set of numbers that could be used so I can go a little larger.

I used to do a semi-martingale approach and was making about $1000/month using it.. I pulled out my $1000 every month until what was left was my initial depost.. this all worked great until the death trade.. now for me it turned out I was still in the positive, but you really can't make a living off of something that can take it all away just like that. My death trade occurred last May 2008 where I stopped, but still kept track, and 2 more death trades happened in June and August... that close together would've wiped me clean, so I am glad I stopped. Interesting enough since August its worked great (without me)

Just a warning for everyone, Bernanke is going to speak in less than 40 minutes. Look for some possible large moves in all USD pairs.