PowerSM Semi-Martingale EA Trades

***Everybody, as a courtesy, please refrain from coming in this journal and warning everyone how bad martingale methods are! I have explained the risks of martingale methods on my other thread and we are all aware of the risks and drawbacks and urged not to trade live until proper testing is performed, thank you.***

I've been asked by several people to post a journal using my PowerSM EA. I will be using only one pair, the Eur/Usd, on a demo account using 500:1 leverage with $100,000 and will be using these settings posted below. I have also changed the expiration date to 3/23/2010 for those who have not updated the EA or are trying it out for the first time.

Please don't ask me to try other pairs or make changes. If you would like to test other pairs or to try other settings, feel free to do so on your own time. I will be using nano lots ($.01 a pip) but doubling the lots in the sequence for a little more added profit. So instead of starting with .01 lots I will start with .02 lots and so on. I have also extended the sequence from 24 levels to 34 levels to minimize the risk of hitting the last progression. The PowerSM Calculator, Template, and the EA are attached in a zip file below for everyone to use as they wish. I will also be letting the EA open a new sequence after it closes one out to show how the EA can perform with opening more than one sequence during my specific trading times shown below. I will post a template for you to make the setup easier so you do have to go through and change the lots by hand.

If you would like to use the same broker for testing you can download the platform here and test as well or follow along using this account # and password:

http://www.instaforex.com/downloads.php

Account#-221690
Investor Password-li3onzf

If you use any other broker, you'll need to adjust your start and stop times based on the broker's GMT time. If you use InstaForex, it is GMT +3 according to the platforms marketwatch time. If your in Central time zone in the states like I am, the EA will start trading at 1:00 a.m. and stop at 11:00 a.m.

Here are the settings:

TakeProfit-40
StopLoss-10
BreakevenStop-25
TimeEntry-True
StartTime-09:00
StopTime-19:00
PriceEntry-False
RestartNewCycle-Yes
LotSequence-0.02;0.02;0.04;0.06;0.08;0.12;0.16;.22;.3;.4;.54;.72,.94;1.24,1.6;2.04;2.6;
3.3;4.16;5.26;6.62;8.32;10.44;13.1,16.5,20.78,26.18,33,41.58,52.4,66.02,83.2
104.84,132.22
Slippage-3
OrderTriesNumber-10

A small note to those who are going to test this out on their own.

If you would like to run the EA 24/5, leave the TimeEntry to True and put 00:00 for your StartTime and 24:00 for your EndTime. Do not change both the TimeEntry and PriceEntry to False!

Also, if you are getting "invalid stops" comment in the experts tab in metatrader, you may have to add an extra "0" to your TakeProfit, StopLoss, and BreakEvenStop to compensate for 5 and 6 digit brokers.

hi, it will test and post the results. thanks very much!!

Mer,

Thanks for starting the new thread.

rptrader

rptrader, glad to have you along. If you have any questions, don't hesitate to ask.

liquidestiny, I appreciate that you want to test out the EA as well, but please post your results in a separate journal thread as not to confuse people with different statements being posted from different users, thanks.

Also, I forgot to mention that I will post two statements, one is a daily statement of trades made that day and the other will be a cumulative statement.

what's a .tpl file? Which folder do I put it in?

Sorry I'm new.

A .tpl file is a template file and would go in Programs/InstaTrader/Templates folder then restart your platform.

First night of trading closed out 4 positive sequences and stopped with 1 open sequence stopped at .16 lots. We got a little bit of a late start last night due to some internet issues and the EA didn't take the first trade til 10:16 gmt. The open sequence tonight will start back up at .22 lots. I am only posting one report today as the cumulative report will be the same since it's the first one. After tonight there will be two statements posted.

Well, we had a roller coaster of a time last night with 20 closed sequences and 1 open sequence ending at .30 lots. With a $51.16 profit last night it can show that you can have great nights with this EA even at a $.01 a pip . Trading will start back up at .40 lots tonight.

Yes you will have great nights and once in a while a horror trip as such a sequence will fail from time to time if you run it fully automated.

Remember that USD/JPY sequence some months ago?

Trust me Xaron, I remember it well, lol. That's why I can't stress enough to stay away from any pairs with quick up and down movements like all the Yen pairs, Gbp/Usd, and Gbp/Chf. That's why I restricted myself to the Eur/Usd only and only trading right at the Frankfurt open and through the early New York open. Of all the testing I did before, not once did I have an issue with the Eur/Usd. Plus as you see I've added 10 more levels onto the EA and have lowered the BreakevenStop to 25 to allow us to get back in the trades that do reverse on us a little quicker.

Also, I've updated the PowerSM calculator for everyone to use. Only the Nano part was changed to reflect the extra levels since that is primarily what we will be trading live when the time comes and I've added a 500:1 leverage option to be able to see was account size you would need for each desired leverage. I changed the first post to a zip file and placed all the information there for everyone if the need it.

Well, somehow my Global variables were deleted somehow so when the EA started up this morning it initiated the sequence back at the start with .02 lots. We only had two sequences finish and with 1 sequence still open which ended at .30 lots. The first sequence of the night went 22 levels (actually 20 with the two BreakevenStop levels hit) which makes me happy I added 10 more levels for safety reasons. The EA should start up at .40 lots when trading resumes in the morning.

I've also updated the PowerSM calculator with a couples of more sheets using the Nano Account with 2 and 3 times the original lot size. Even at 3X the original lot size you could still get away with trading only a $10k account.

Hi Mer,

Im finding your daily statements wont open in my winzip unzip program .

Im told when trying to unzip that it is invalid and doesnt have a file archive


Forfac .

forfac, I don't know what to tell you. I can open them with all three of my computers and have had others open them with no problem. The only thing I can suggest is make sure your Winzip is up to date and also since these are .htm files make sure you open them with your browser. If you extract them to your desktop, right click on either one and go to "properties" and make sure you change the program that opens the file to whatever browser you are using. As you can see in the pic, I am using Firefox to open these files.

As for trading, we had closed out 8 sequences and stopped with 1 open sequence which ended coincidentally at .3 lots (popular level I guess). & 7 out of the 8 closed out at the first few levels, which is good, but doesn't make a ton of profit. But, as always, it's better than having a loss. We still ended up with $28.58 for the night.

Daily total- $28.58
Overall total- $127.98

Thanks Mer,

I did as you suggested only I then got a window telling me the Compressed (zipped) folder is
invalid or curupted.

I dont know why .


Forfac

Good job.
I wonder for how long can you keep going before hitting a margin call.

biz0101, that is the whole reason I added the calculator so that you'll always know what you need to have for a bankroll to cover the drawdowns. With a $100K demo at 500:1 leverage trading $.01 a pip, I obviously will not be margin called, the struggle is will I or will I not reach 34 levels? With the original 24 levels on Eur/Usd I never came even close to that let alone trying to get to 34. That is also why I'm letting the EA open another sequence right after one closes to see how an unfinished sequence will react over a few days and so far has worked well.

forfac, the only thing I can do is e-mail them to you unzipped to see if that helps out.

Thanks for offering to send them by email Mer, I appreciate your consideration, fortunately Ive downloaded another zip program and it opened the statements.zip files just fine .

Everything is good now .


forfac.

Great, I'm glad they opened for you. If you have any other concerns or problems just let me know.