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Forex Trend Catcher EA

  • #61
  • Mar 19, 2009 8:51am Mar 19, 2009 8:51am
Quoting Mr Benn
Bernard,

Here's my second day results from your EA. One trade is floating but its getting late here in Hong Kong and I'm bloomin' knackered!

Looking good so far I have to say.

Keeping my fingers crossed that this really is good and isn't just a fluke.!

Cheers
Hi Benn,

Impressive results you have. Be sure to download the latest version 1b. Rectified a little bug I discovered.

Have a good rest. More pips await you tomorrow.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #62
  • Mar 19, 2009 8:53am Mar 19, 2009 8:53am
I don't understand why you are all forward testing, do a backtest for 10 years and you are much wiser. Alpari has 1 min data from 2004, just run your hourly test on every tick mode in top of that and you will have a good idea on how the EA works longer term.

If you are testing last few days it tells absolutely nothing especially when the days have been as extraordinary as they have.

Just my 2 cents.
  • #63
  • Mar 19, 2009 8:54am Mar 19, 2009 8:54am
Yes, I have just downloaded it so I'll make sure I have that one up and running from tomorrow.

Many thanks for your efforts, it's much appreciated.

Cheers.
  • #64
  • Mar 19, 2009 8:57am Mar 19, 2009 8:57am
Quoting mikkom
I don't understand why you are all forward testing, do a backtest for 10 years and you are much wiser. Alpari has 1 min data from 2004, just run your hourly test on every tick mode in top of that and you will have a good idea on how the EA works longer term.

If you are testing last few days it tells absolutely nothing especially when the days have been as extraordinary as they have.

Just my 2 cents.
Sound great but I am very much an Fx newbie so you're almost talking another language there.

Perhaps Bernard can give it a go?

Cheers mikkom
  • #65
  • Mar 19, 2009 10:42am Mar 19, 2009 10:42am
Hello Prosper,

Looking very goood!

Thanks again

Cheers
  • #66
  • Mar 19, 2009 10:56am Mar 19, 2009 10:56am
Prosper,
I did get 3 trades 2 were + 1was-.
Now I've downloaded v2. Can you tell me how is it different from v1?
I have put it at default except GMT offset which is 0 for my broker.
Thanks
Vinesh
  • #67
  • Mar 19, 2009 11:01am Mar 19, 2009 11:01am
Quoting Ronald Raygun
Judging by that chart, it looks like the EA gets the end of the move...

Where did I put that time machine..
Ronald,
As the name suggests it'll catch a trend which is confirmed and as such you will enter later on only. But I think it's better to have 1 good trade than several losing ones.
Better safe than sorry.
Vinesh
  • #68
  • Mar 19, 2009 11:06am Mar 19, 2009 11:06am
Quoting mikkom
I don't understand why you are all forward testing, do a backtest for 10 years and you are much wiser. Alpari has 1 min data from 2004, just run your hourly test on every tick mode in top of that and you will have a good idea on how the EA works longer term.

If you are testing last few days it tells absolutely nothing especially when the days have been as extraordinary as they have.

Just my 2 cents.
Mikkom,
In my experience (albeit it is very limited as I'm a newbie too) the results of backtest and forward testings are dramatically different. No two situations in Forex market is the same. I've seen good profits on backtest and the same EA gives loss 70% of the time when tested in forward.
Just my 2 bits.

Vinesh
p.s. Though testing for a long time like a month or two will give you several different scenarios and a better judgement on EA.
  • #69
  • Mar 19, 2009 11:30am Mar 19, 2009 11:30am
Quoting vinesh
Ronald,
As the name suggests it'll catch a trend which is confirmed and as such you will enter later on only. But I think it's better to have 1 good trade than several losing ones.
Better safe than sorry.
Vinesh
On the contrary =D

I would rather have several good trades and few losing ones, especially at the retail forex level (any MT4 broker). Here's why:

There are plenty of reasons why a trade may not be filled..

  1. Increased spread
  2. Lag with the broker
  3. Complete loss of a connection with a broker
  4. Very high slippage
  5. Power outage
  6. etc.

Let's say one in every ten trades is a winner. That translates to a 10% chance of a winning trade.

What's the likelihood that your winning trade would be affected by one of the above problems?

That's why I would prefer several small to medium winners to one large winner, so the broker has a smaller chance of wiping out my only profitable entry.

  • #70
  • Mar 19, 2009 6:53pm Mar 19, 2009 6:53pm
Quoting Pluto2
Hello Prosper,

Looking very goood!

Thanks again

Cheers
Pluto2,

May you have consistent and profitable trades with this EA.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #71
  • Mar 19, 2009 6:56pm Mar 19, 2009 6:56pm
Quoting vinesh
Prosper,
I did get 3 trades 2 were + 1was-.
Now I've downloaded v2. Can you tell me how is it different from v1?
I have put it at default except GMT offset which is 0 for my broker.
Thanks
Vinesh
Vinesh,

Ver. 1a stop/close trades with the wrong time at end of trading week, Friday. This is now rectified and uploaded as Ver. 1b.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #72
  • Mar 19, 2009 7:10pm Mar 19, 2009 7:10pm
Hi Prosper,

Looks to me like if I don't want the TS,
I not only have to have the TrailStopRequired on false,
but the TrailStop at 0 and the StopLossIncrement at 0.
Correct?

Thanks

Cheers
  • #73
  • Mar 19, 2009 7:42pm Mar 19, 2009 7:42pm
Quoting Pluto2
Hi Prosper,

Looks to me like if I don't want the TS,
I not only have to have the TrailStopRequired on false,
but the TrailStop at 0 and the StopLossIncrement at 0.
Correct?

Thanks

Cheers
Pluto2,

You just need to switch TrailStopRequired to true/false. No other action is required.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #74
  • Mar 19, 2009 7:47pm Mar 19, 2009 7:47pm
Hi there,

It is giving me this message

2009.03.19 20:41:40 Forex_Trend_Catcher_Ver1b EURJPY,H1: Unauthorise Copy

is there a number to regist?

Thanks in advance
  • #75
  • Mar 19, 2009 7:52pm Mar 19, 2009 7:52pm
Quoting pedrovarela
Hi there,

It is giving me this message

2009.03.19 20:41:40 Forex_Trend_Catcher_Ver1b EURJPY,H1: Unauthorise Copy

is there a number to regist?

Thanks in advance
Hi Pedro,

You must be using it on a live account.

Just e-mail me your account number and I will generate a unique license number from your account number to go with the EA.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #76
  • Mar 19, 2009 8:46pm Mar 19, 2009 8:46pm
Hello Prosper,

Please see my post#32. After reading your reply,
I have set the TrailingStopRequired to False.
But the same issue as I have posted it in #32 is there.
That's why my question in my last post.

I like to trade the EA without the TS.
Just have a SL and TP. I find the TS
takes away too many pips.
How can I eliminate the moving of the SL?

Thanks again

Cheers
  • #77
  • Mar 19, 2009 8:48pm Mar 19, 2009 8:48pm
Hi prosper and all

Still demoing this EA

My results for yesterday (Sydney time) were as follows;

3 trades, all profitable.
trailing stop was hit on all 3 for a total of 240 pips

In the last 3 days it has given my demo account an extra 840 pips with only 2 losing trades out of 7 trades.

I will try and upload some screen shots ( I will try anyway, I am bit new at posting screen shots). http://www.forexfactory.com/images/icons/icon7.gif

Once again thanks for posting this EA prosper.

Cheers Ezzy
What you do is a reflection of you....what I do is a reflection of me.
  • #78
  • Edited 9:52pm Mar 19, 2009 8:55pm | Edited 9:52pm
Quoting Pluto2
Hello Prosper,

Please see my post#32. After reading your reply,
I have set the TrailingStopRequired to False.
But the same issue as I have posted it in #32 is there.
That's why my question in my last post.

I like to trade the EA without the TS.
Just have a SL and TP. I find the TS
takes away too many pips.
How can I eliminate the moving of the SL?

Thanks again

Cheers
Pluto2,

If you do not wish to activate trailing stops, set the TrailingStopRequired to false.

However, whether the TrailingStopRequired is set to true/false, the EA will always move the SL (100) to StopLossIncrement(10) when the trade enters profitable territory (+50). This happens only once. This is a safety feature I wish to remain in the EA , unchanged. You must always lock in profits, at least a minimal profit in any trade.

Once this happened, with TrailingStopRequired set to false, the new SL (10) remains until end of trade.

No need to change StopLoss or StopLossIncrement values. Let them remain as they are, default values.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #79
  • Mar 19, 2009 8:57pm Mar 19, 2009 8:57pm
Quoting Ezzy
Hi prosper and all

Still demoing this EA

My results for yesterday (Sydney time) were as follows;

3 trades, all profitable.
trailing stop was hit on all 3 for a total of 240 pips

In the last 3 days it has given my demo account an extra 840 pips with only 2 losing trades out of 7 trades.

I will try and upload some screen shots ( I will try anyway, I am bit new at posting screen shots). http://www.forexfactory.com/images/icons/icon7.gif

Once again thanks for posting this EA prosper.

Cheers Ezzy
Ezzy,

Great results you have again.

Yes, I will appreciate to see screenshots of your trades.

Bernard
“Opportunities multiply as they are seized.” - Sun Tzu - The Art Of War
  • #80
  • Mar 19, 2009 9:44pm Mar 19, 2009 9:44pm
Thanks Prosper for the explanation.
Now I fully understand how the SL is programmed
in your EA.

Cheers
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