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4H Banker Buster

  • #241
  • Oct 16, 2009 2:34pm Oct 16, 2009 2:34pm
Quoting Pharoah
I hope not lol, while this method shows promise it is still flawed and is a WIP (Work in progress) project.

I suspect this will be one of those ones that go to v7.0 or higher to be honest. Was at 3.0.03, and now has to be restarted programming wise.

Either way, development and programming of the strategy and EA are going to continue.

Once we do have a stable version (bug free and up to current date development) we will be releasing immediately after betatesting. I do not recommend using the first few EA releases on a live account. Consider them...
Pharoah, you're making great progress! I like your disciplined, methodical approach. I know you will succeed at this effort.

Now, if only I could get my technical problem in posting to FF solved, I could participate more in this thread, rather than having to take my computer across the way to log into my neighbor's network just to make a post (which is quite inconvenient as you might imagine).

Hope everyone here has a great weekend.
  • #242
  • Oct 16, 2009 3:04pm Oct 16, 2009 3:04pm
Quoting Offshore
been away for the week and when I came back looks like we broke out of the ranging pattern
Broke and broke good too, 600 pip move, Who ever took that breakout landed a nice profit.
  • #243
  • Oct 16, 2009 3:14pm Oct 16, 2009 3:14pm
Quoting octomanoak
Pharoah, you're making great progress! I like your disciplined, methodical approach. I know you will succeed at this effort.

Now, if only I could get my technical problem in posting to FF solved, I could participate more in this thread, rather than having to take my computer across the way to log into my neighbor's network just to make a post (which is quite inconvenient as you might imagine).

Hope everyone here has a great weekend.
Thanks octomanoak, I think if something like this is rushed, it's bound to fail, this is why we are taking our time, so we can notice the issues that surface, and devise ways to prevent them without compromising it's current profit factor.

I know it may take longer than some here are expecting, and I suspect it'll take longer than I myself am expecting. But when the first version is released to the public, it will be polished, and as bug free as possible. After all, people are going to be putting their hard earned money in the hands of the EA, it HAS to be functioning properly.
  • #244
  • Oct 16, 2009 4:44pm Oct 16, 2009 4:44pm
Quoting Pharoah
Broke and broke good too, 600 pip move, Who ever took that breakout landed a nice profit.
yeah, with break out methods every signal must be taken.
otherwise big move can be missed.
  • #245
  • Oct 16, 2009 7:28pm Oct 16, 2009 7:28pm
Quoting Pharoah
Broke and broke good too, 600 pip move, Who ever took that breakout landed a nice profit.
not me unfortunatley I was long on a demo and stopped out but at least the pattern is hopefully broken I may have to re-fund my account

Anyone got some spare peso's or such like
I do Good I feel GoodI do Bad I feel Bad
  • #246
  • Oct 18, 2009 2:14pm Oct 18, 2009 2:14pm
Hi Pharoah,

I want to do some backtests and have two questions regarding SL:

Quoting Pharoah
Entry Conditions
Condition 1 Ruleset: Follow the MA’s; Set the stoploss according to the MA's

Buy order: If a buy order is triggered and the Red MA is below 20 pips from entry, Set the stoploss to the Red MA.
With "below 20 pips" you mean "below 20 pips or lower", right ?
Were would you set the SL if the Red MA is only 10 pips below, or wouldnt you set a SL at all until one of the SL criteria is met ?

Quoting Pharoah
....
Once the stoploss is equal to Break Even or greater, set the stoploss to Break Even.

Does this imply that the Red MA loses its SL function when crossing outside the box, so once this happens we are out at BE if Price drops to BE before the Black MA crossed outside the box (hope this makes sense) ?


Thanks and keep up the good work.
  • #247
  • Oct 18, 2009 5:12pm Oct 18, 2009 5:12pm
Quoting pippiee
Hi Pharoah,

With "below 20 pips" you mean "below 20 pips or lower", right ?
Were would you set the SL if the Red MA is only 10 pips below, or wouldnt you set a SL at all until one of the SL criteria is met ?
Yes, this means if the Red MA is less than 20 pips in the negative from entry price. And yes, it is VERY important to set a stoploss no matter what, I suggest a trailing stop of approx 50-75 pips (this is still also undergoing testing for best overall broker to broker results), treat this stop the exact same way as the MA's, if it crosses the Red MA before BE, set to Red MA, if it crosses BE before the red MA, set to BE. Only if the Black MA is already above BE should the trailing stop ever cross BE.


Quote
Does this imply that the Red MA loses its SL function when crossing outside the box, so once this happens we are out at BE if Price drops to BE before the Black MA crossed outside the box (hope this makes sense) ?


Thanks and keep up the good work.

The Red MA only loses it's importance at BE if the Black MA is still beneath BE, if the Black MA is above BE, the Red MA is used until it crosses the Black MA, otherwise, yes, BE is where the Red MA loses importance.

The reason for this is because there are going to be retraces, not all movements signify a truly profitable move, but some do, even with a retrace that goes nearly 100 pips. This allows the market to have breathing room, as the market is like any other living living.. needs room to breath.

Hope that cleared some stuff up. I must note, this system is in heavy development, and should not be traded on a live account at this time, even if the base system gets 10 winning weeks in a row. TRADE LIVE AT YOUR OWN RISK.
  • #248
  • Oct 18, 2009 5:58pm Oct 18, 2009 5:58pm
No live trading, only backtesting since I burned some cash in my newbie lesson.
Got to gain REAL confidence until I enter with real cash again.

Sorry to ask the same question twice, I just want to make sure I really got it.

So are the following SL conclusions correct ?

Example1
Long Entry @ 140.00
Red MA @ 139.90 -> less than 20 below -> set initial stop to 139.90

Example2
Long Entry @ 140.00
Red MA @ 139.70 -> more than 20 below -> set initial 50-75 trailing stop

Example3
Long Entry @ 140.00
Red MA @ 140.30 -> more than 20 above -> set initial 50-75 trailing stop

Example4
Long Entry @ 140.00
Red MA @ 140.10 -> less than 20 above -> set initial 50-75 trailing stop

Quote
..I must note, this system is in heavy development..
Did some of the fundamental rules change (doesnt seem to be necessary) or are you talking about fine tuning ?

Thanks
pippiee
  • #249
  • Oct 18, 2009 7:18pm Oct 18, 2009 7:18pm
Quoting pippiee
No live trading, only backtesting since I burned some cash in my newbie lesson.
Got to gain REAL confidence until I enter with real cash again.

Sorry to ask the same question twice, I just want to make sure I really got it.

So are the following SL conclusions correct ?

Example1
Long Entry @ 140.00
Red MA @ 139.90 -> less than 20 below -> set initial stop to 139.90

Example2
Long Entry @ 140.00
Red MA @ 139.70 -> more than 20 below -> set initial 50-75 trailing stop

Example3
Long Entry @ 140.00
Red MA @ 140.30 -> more than 20 above -> set initial...
Yes, all of those are correct

None of the core fundamentals have been changes, BoxTrail is being used, and SmartStop is also being used, right now what's being tested is ADX or ATR to assist in determining and removing as many false breakouts as possible.

And you're right, there are no real requirements to alter the core functions, it's all about fine tuning and optimized settings for the various tools used, and ensuring all grounds have been covered. Such as when you asked "Do we even set a SL at all if the Red MA is above 20 pips from the entry point?" This has been brought to my attention back with my 4H Breakout With Custom Stoploss thread, as a potential account breaker, and has been rectified by including the generous 50-75pip trailing stop.

Pharoah
  • #250
  • Oct 19, 2009 3:13pm Oct 19, 2009 3:13pm
Thanks, I am trying to code that into an EA and no, I won´t share it
I am curious to see if it will produce the same nice results than yours

One more:

Example1
Long Entry @ 140.00
Red MA @ 139.99 -> less than 20 below -> set initial stop to 139.99

We would almost certainly get stopped out at 139.99, wouldnt we ?

Pippiee
  • #251
  • Oct 19, 2009 3:41pm Oct 19, 2009 3:41pm
Quoting pippiee
Thanks, I am trying to code that into an EA and no, I won´t share it
I am curious to see if it will produce the same nice results than yours

One more:

Example1
Long Entry @ 140.00
Red MA @ 139.99 -> less than 20 below -> set initial stop to 139.99

We would almost certainly get stopped out at 139.99, wouldnt we ?

Pippiee
In that case, a trailing stop would be applied of 50-75 pips. Remember, if the Red MA is inside the 20 pips below entry (long order) there is a trailing stop set in place.

So for that example, it would be

Example1
Long Entry @ 140.00
Red MA @ 139.99 - less than 20 below - Set trailing stop of 50-75 pips

Example2
Long Entry @ 140.00
Red MA @ 139.79 - 1 pip outside of the 20 pips - Set stoploss to Red MA

I must also note, that the 20 pip Red MA buffer is still in testing, it may be more beneficial to work with a 30 pip buffer, or 40 pip, this is all being tested.

Also, it's not that I don't want the automated version of this system to be shared, I just request that it's done with the utmost discretion. In other words, know that who your giving it to, won't post it to the mass public.
  • #252
  • Oct 19, 2009 4:23pm Oct 19, 2009 4:23pm
Ok that makes sense, but then my previous assumptions 1 and 2 have to be wrong although you said they were correct .

This will be definitely the last time I´ll disturb you regarding the 20 pips buffer, its confusing somehow..

So correct would be

Example1
Long Entry @ 140.00
Red MA @ 139.90 -> less than 20 below -> set initial 50-75 trailing stop

Example2
Long Entry @ 140.00
Red MA @ 139.70 -> more than 20 below -> set stoploss to Red MA

I guess 3 and 4 remains valid.


Quote
If the trailing Stop reaches Break Even before crossing the Red MA and before crossing the Black MA, Keep the trailing stop active, once it crosses the Black MA adjust stoploss to Black MA and follow Condition 1 Buy Rules from Black MA on.
After that and after crossing BE, what if the trailing stop crosses the red MA first before crossing the black MA ?
Set SL to BE or wait until stop crosses the black one ?
I would prefer the latter because otherwise we would lower the stop (since it crossed BE) which is never a good idea, right ?

PS:
If I´m disrupting your family live, let me know
  • #253
  • Oct 19, 2009 4:31pm Oct 19, 2009 4:31pm
I've read this thread and this thread (http://www.forexfactory.com/showthread.php?t=194252); one thing I've missed is the exit criteria.

Is there any?
  • #254
  • Oct 19, 2009 5:09pm Oct 19, 2009 5:09pm
Quoting nondisclosure00
I've read this thread and this thread (http://www.forexfactory.com/showthread.php?t=194252); one thing I've missed is the exit criteria.

Is there any?

Sure: Stop Loss, Trailing Stop and partial profit taking at 100% box size are mentioned on the first page.
  • #255
  • Oct 19, 2009 5:11pm Oct 19, 2009 5:11pm
Quoting pippiee
Sure: Stop Loss, Trailing Stop and partial profit taking at 100% box size are mentioned on the first page.
Exactly, there is a stoploss set in place no matter what the condition
  • #256
  • Oct 19, 2009 6:27pm Oct 19, 2009 6:27pm
Thanks!

I missed it. Man, I'm blonde AND I'm getting old. What crappy combo!

Quoting pippiee
Sure: Stop Loss, Trailing Stop and partial profit taking at 100% box size are mentioned on the first page.
  • #257
  • Oct 19, 2009 6:42pm Oct 19, 2009 6:42pm
On the first page when you say 'run it's course', I assume your waiting for it to get stopped out. Correct?

Quoting Pharoah
Exactly, there is a stoploss set in place no matter what the condition
  • #258
  • Oct 19, 2009 6:54pm Oct 19, 2009 6:54pm
Quoting nondisclosure00
On the first page when you say 'run it's course', I assume your waiting for it to get stopped out. Correct?
Exactly, there is no Take profit, only a partial take profit where you close half the position, the position of this is also being tested for optimization, but 100 pips is a safe number.
  • #259
  • Oct 20, 2009 2:39am Oct 20, 2009 2:39am
It's kinda quiet here.Reminds me of battle field with rotting corpses lying around and vultures picking what's left from the bones
No more burros
  • #260
  • Oct 20, 2009 2:41am Oct 20, 2009 2:41am
Pharoah, how is trading going.
I messed up myself badly last week and into this one. Have tried to trade so many different things that completely lost focus
Refocusing right now.
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