PowerSM Semi-Martingale EA Trades

We only had 1 sequence close this morning at level 17, but it was a good one (nice to know I've got 17 more levels to play with). We also have one open sequence that ended at .22 lots. Trading will resume tonight at level 9 with .30 lots.

Daily Total- $47.40
Cumulative Total- $175.38

We only had 2 sequences close this morning with one still open which stopped at .16 lots. Trading will resume tonight at level 8 with .22 lots.

Daily Total- $17.00
Cumulative Total- $192.38

We only had 2 sequences close this morning (good ones though) with the last one hitting its profit target a couple of hours after our end time so we did not start any new sequences. Trading will resume tonight at level 1 with .01 lots.

Daily Total- $94.20
Cumulative Total- $286.58

Hi Mer,

Looks very interesting.

Could you explain some of the ea settings for me. (i am not used to using ea's).

What is the function of BreakEvenStop?

Also, OrderTriesNumber?


Thanks.

Sure, the "BreakEvenStop" is the number of pips the trade will move before the EA will move the initial stop to Breakeven. That way if the trade just misses your TakeProfit target and reverses, you will lose "0" pips instead of 10 pips (which is the default StopLoss). If you look at last nights report we had two instances where this happened. And as you can see, what I did to make things even better is when the "BreakEvenStop" does gets triggered and the trade reverses and stops out, the EA will open an opposite trade at the same level you stopped out at, basically giving you a "freebie" . It's like the trade never happened!

All the "OrderTriesNumber" function does is well, just what it says. If you you have an issue where you are re-quoted, the EA will "Retry" to place a new order up to whatever the input shows. Default is set at 10 but as always you can set it to whatever you'd like.

I hope that answers you questions plasmapants.

I am following your trading journal and although familiar with this martingale concept, I keep looking for ways for improvement in this stuff. I am running a demo as well for last 3-4 days and is doing good although I started with only 500 balance to see how it goes. I am using the same settings as you suggested. I will post a statement may be at the end of week.

I have a question regarding the breakeven stop. Can we have a variable stop level means if we go up to 25 or 30 pips and price reverses, we can stop at a profit of 5-10 pips and reverse the trade from there. This way we will be in the opposite tarde earlier and might have better chance of reaching our target of 40 pips instead of starting 10 pips later. Anyway thanks for your journal.

hnk

hnk, funny you should mention that. Believe it or not I actually e-mailed my coder last week about looking to see if it's possible to have him allow the "BreakEvenStop" take the trade to +1 or +2 instead of breakeven so at least I make something on those breakeven trades that do happen to go against us. I don't know if I if it would be feasible to go as high as 5-10 pips because of the way price retraces.

Let's use an example, if the EA started with a buy at say 1.3000 and we've set our BreakEvenStop at 30 pips. Then let's say price went to 1.3030 which moves our stop to 1.3010 (breakeven +10). If price retraces to 1.3010, yes we would get +10 pips, but then the EA would enter a short at 1.3010. Now, what if this was just a retrace and price shot back up, our short would've stopped out only to negate our 10 pip profit on the last trade, see what I getting at. You basically opening yourself up to be stopped out a lot more often because your narrowing the range the trade is allowed to move. You want to have the room to let the sequences develop but not get stopped out an excessive amount of times.

With regards to the account size, according to the PowerSM calculator you would need at least $4600 to be able to cover all 34 levels safely. I would even say to double that if you let the "RestartNewCyle" function to True. With only a $500, even on a 500:1 leverage Nano account starting out with only .01 lots you could only make it to level 24 before being margin called. That's the one unfortunate thing about this EA is you have to have a larger starting balance in order for it to work properly and to be safe.

Hi Mer,

From your statements its clear that your strategy is not broken so doesn't need any fixing, but i have an idea for adapting it i want to run past you.

What do you think about using the daily open, or dibs style 6am candle as a base for initiating the trade and a percentage of the atr or 2xsl for taking profit.

I have visually backtested on gu, eu and gc and seems like a good strategy. The logic is that so long as the price moves from the open on that day, the trade will be a winner. The smaller the opening candle and the more volatile the pair, the greater the profit. I have also noticed that you are not likely to get stopped out more than 4/5 times and most days only twice before the market makes up its mind about being an up day or down day.

I thought i might try and forward test it with your ea but am not sure of the settings that would be required.

plasmapants, that is why I posted the EA for everyone so they can try out different variations and trading methods. If you try it out on other pairs, be sure to play with the settings as the volatility for each pair will be dramatically different. I personally would not use the Daily open as the volatility at the open isn't very high and you could run through quite a few levels as it ranges before the London open.

The issue with the take profit is that in order to be profitable you have to have at least a 4:1 or higher take profit to stoploss ratio, otherwise you end up losing in the overall picture.

If you decide to experiment with the EA, please open a separate thread for your findings as I don't want any confusion as this thread is for PowerSM results only.

Thank for checking it out and good luck.

We had 8 sequences close this morning with the last one hitting its profit target 20 minutes after our end time again so we did not start any new sequences. Trading will resume tonight at level 1 with .01 lots.

Daily Total- $39.56
Cumulative Total- 326.14

Daily average- $40.77

Hello There,

I noticed and followed the post and the original thread long time ago. I am very happy that you are stilling testing it.

I believe in math, so I am always testing martingale trading method. However, there is never a one that can last longer.

I logged into your demo account, did you notice the big drawdown of a level of over 30. the lot size was 8.32 minilot.

I think probably we should disable the trade in quiet market. Only trade in the London and New York session. preferably the overlap time.

Cheers!

The EA only trades at the start of the Frankfurt open at 1:00 am CST. through the London session and into the first half of the New York session and stops at 11:00 am CST. It doesn't trade during the quiet times. With regards to the drawdown, that is why I added the 10 extra levels to the EA along with the Breakeven function.

We had 4 sequences close this morning with one open sequence which stopped at .06 lots. Trading will resume Sunday night at level 5 with .08 lots.

Daily Total- $14.70
Cumulative Total- 340.84

Daily average- $37.87

We had quiet Monday with 3 sequences closing this morning with one open sequence which stopped at .06 lots. Trading will resume tonight night at level 5 with .08 lots.

Daily Total- $9.96
Cumulative Total- 350.80

Daily average- $35.08

We had 5 sequences closing this morning with no open sequences. Trading will resume tonight night at level 1 with .01 lots.

Daily Total- $13.58
Cumulative Total- 364.38

Daily average- $33.13

Hey Mer, I would like to thank you for your efforts on this thread , you've really been a great help, I wish you the best, coz you deserve it ;-)))

I have a question regarding this EA , now when I close the trade manually before a SL or LP is hit , it continues the steps once again , let's say I close a trade at 0.1 , it opens the next step in the series even if I turn off the expert , how can I reset the expert to start the cycle from the beginning of steps ( First step ) ???
thanks Mer

First off Riskee, I thank you for the comments. My first question would be is why are you closing the trades manually? The EA will will place and close trades for you until the profit target is hit or you hit the end at the 34th level. That is what it's designed to do and nothing else.

Now in the settings you can change the "RestartNewCycle" function to false and the EA will stop once the sequence has hit it's take profit target and not open a new sequence until you tell it to in the parameters.

Other than maybe deleting the global variables under the tools in the menu bar I don't know of any way to restart at .01 every time unless you close and reopen a new chart every time, but again that is defeating the purpose of the EA itself. If you only want it to trade .01 lots every time, just go and change the "LotsProgression" inputs to .01;.01;.01... and so for for however many levels you desire.

We had a little bit of a slow day with only 2 sequences closing this morning with 1 open sequence stopped at level 1 with .02 lots. Trading will resume tonight night at level 2 with .02 lots.

Daily Total- $7.32
Cumulative Total- $371.70

Daily average- $30.97

We had another fairly slow day with only 5 sequences closing this morning with no open sequences. Trading will resume tonight night at level 1 with .02 lots.

Daily Total- $11.20
Cumulative Total- $382.90

Daily average- $29.45