Kang Gun Relative Strength trading - the EA's

Part of the Range trading robot's 'thought processes' involves setting an I-need-to-send-a-basket variable whenever it has successfully validated one. This variable is only cancelled when the basket has been sent successfully.

At each tick, the robot examines this variable, sees it is still set because one of the individual trade send attempts failed, and goes off to work out which trade is missing and re-send the order.

I typed the wrong variable into the Range trading functions, so the crucial variable was never set. This is the chief reason that some baskets contain fewer trades than our minimum requirement.

I did not spot the coding error. In a breathtaking piece of brilliance, it is our resident brainbox Kling that spotted it. Non-coders believe me; spotting an error like that in the congealed morass that my code represents is fantastic. I didn't spot it, and I coded the thing.

Once again, a huge round of applause for this gentleman.

Downloading the updated version is essential, folks.

I spotted the coding error while I was investigating another phenomena that I experienced using this Range EA. But that other phenomena is entire of my own making (while I was trying to manually overide a certain operation).

Personally I have traded the Range & Original EA (yes, both methods) live for the past 4 weeks. Just like Steve, while it generated handsome results for me, I also noticed the risk of this EA where it created large DD during the last 3 weeks.

For example GBP between June 5th-12th stretched itself to the upper end. And since June 15th, JPY take its turn to do likewise. These were and are the main cause of the large DD. So if we are using this EA, we have to learn how to deal with them.

So to understand the methodology behind this EA is crucial. Anyone who doesn't read the entire history and thread/s of the formation EA, and understand the main driving forece behind it, is risking his/her own position.

Also like Steve I have been looking for a "back-up" trading system. I have written 2 other EAs (based on some other popular methods discussed in FF). But after numerous modifications and back-testings (& forward demo testings no doubt) on these other EAs, the Range & Original EA performance for the past 4 weeks still comes out ON TOP!

Therefore I will keep helping Steve improve this EA.
Hopefully with a bit of patience, more analysis & testing, we can find a way to reduce the risk factor.

Way to go, Steve!

Steve,
The folder seems to be empty.

Vinesh

It must have been corrupted during the upload. I have re-uploaded it and the file seems OK now.

Steve, Kling, KG et Al,

You guys made a fantastic work! Thank you for sharing it.

I silently follow the thread with attention for a while and started testing the EA a couple of weeks ago. The result is fair, there is no drawdown at the moment probably because of the low level take profit setting (USD 1 first then USD 5.50 on a micro account trading 0.01 lot, that is 10 cents).

Steve, may I ask you what the difference is between V1 and V2 versions?

Keep up the good work,

A1

An update to V1 is in post 1. Details in the update section.

I decided to release V2 so people can start playing with it straight away. Use it on demo only, for now, and report any bugs here. It should only be a couple of days before we can use this version on our live accounts.

The download worked for me, thanks for the new version Steve. I'll start v2 on my account this week.

I'm only trading penny pips, by the way, because that's what I'll trade when I go live. I know it doesn't make sense to have a $10,000 demo, but there ya go. :-) I've already conclude that the $50 IBFX gave me to open an account will not be enough since the DD + margin required was about $50 this past week.

Has anyone tested to see what the optimal TP is? Steve defaults to $1 (100 pips) but it looks like A1Cruiser 55 pips. It would be worth running several forward tests with different TP points to see the effect, and different baskets may need different settings.

If you are only trading penny pips (like me) then you need to demo a penny account.

If you trade IBFX 0.01 nano-lots on a $10,000 demo, then 5 baskets all going to -2000 each makes no difference whatsoever. On a $100 demo, you get a better feel for the effect on your sanity of something similar happening live.

Take care when setting up V2 of the Range robot. I accidentally issued it with SleepMinsAtStartup = 0 and WatchTradesOnly set to true.

These need resetting to 2 and false respectively.

Update, using v2 of the range EA. OOTB settings (I just reset the WatchTradesOnly and SleepMinsAtStartup so it didn't do anything today.)

P/L is -$53, plus $12.50 in margin used with penny pips. Do any other traders have an exit strategy for baskets in deep drawdown?

Well my US range trade came home, 18 days later Lol

Wish mine b****y well would.

Just to let everybody know, V2 has behaved perfectly on demo and has now gone onto my live account.

With default settings?

Mostly. Just check that they are all suitable for you.

Especially check the SleepMinsAtStartup and WatchTradesOnly inputs as I inadvertently issued them set to 0 and true.

Something for all you guys 'n gals out there to consider.

The US criminals decision to ban hedging was merely their first step along the road to driving us retail traders out of business.

IBFX criminals have emailed all their account victims with the news that the First-in First-out 'rule' will soon be implemented.

They do not actually explain what this rule means, but it doesn't take too much imagination to work it out. Even if wrong, it does not take a mega-brain to work out that it will be something that further advantages the criminals over the rest of us.

My latest info from a private forum is that there are moves afoot to: ban pending/stop trades; ban order modification from within the mt4 trading window.

The implications for this robot are clear. Already, baskets are being adversely affected by the no-hedging rule. First-in, First-out will destroy the ability of the robot to close baskets accurately. The proposed bans on pending trades etc do not affect the working of the robot; they merely show the way the criminals are thinking.

Turn your imaginations on to ways in which this robot's method of trading could be further undermined. It is not difficult to do: ban trades being sent within x minutes of the previous one; ban trades closing at x pips loss.

The above are just two of many that I came up with in a couple of minutes earlier.

The point of all this?

US criminals are out to stop us trading with them whilst not actually saying so. Fine. I have already opened my Alpari UK account and will turn the robot on it as soon as I have transferred some funds into it.

The rest of you need to find non-US criminals to host your accounts. I shall soon add a MaxBasketsAllowed input to the robot. We shall be able to set this to 1, leave our US criminals accounts open with the robot set to quietly improve the balance whilst we ignore it and go our merry ways elsewhere.

Until the criminals find ways to stop us doing this, at least.

Steve,

Well I haven't received my letter just yet, from IBFX. I've just checked my account mailbox, there is no message there either. I am not saying its not going to happen, just I haven't got the message yet. Thanks for the heads up.

As to Alpari UK, I'd be interested in how your system goes with them, as there is a notable difference in the Alpari US, and IBFX when you compare the KG RS indi's.

All the best.

V2 with the latest additions is in post 1.

I think the robot is finished now. We shall see.

Here is what mine said:
To our valued clients,

As you may know, the National Futures Association (NFA), has implemented new First-in, First-out (FIFO) requirements that will be in effect as of July 31, 2009. We at Interbank FX have been working hard on a solution and are confident that our traders will be able to use our MetaTrader 4 platform with little or no interruption. They will also continue to be able to use their MT4 expert advisors.

The NFA is striving to ensure the highest levels of integrity from all market participants and their intermediaries. We want to assure you that Interbank FX strives to be 100% compliant with the NFA.

We are currently working on some informational and instructional videos regarding the FIFO requirements and our solution, however most of you will be able to continue trading without any impact to your platform or strategies. In our effort to provide the best solution for your trading, you will be fully advised prior to any proposed changes.

We thank you for your continued support and wish you the best of luck with your trading.

Best regards,

IBFX

'Valued clients' my arse.

That is only the tip of the iceberg. You should see some of the stuff I have read in a private forum. Hair-raising.

With Alpari-UK, should the SL be 20 or 200?
Should the sl be -1000 or -100?