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123 Pattern EA

  • #101
  • Feb 13, 2010 1:12am Feb 13, 2010 1:12am
Guys,

I think this EA does not really perform well in M15 timeframe. The performance are really unpredictable and up to now, I have my 100% profit returned to broker.

However, am still trying to recover the account using a higher timeframe - 1 hour and 4 hour. Can't share anything interesting at the moment as I have yet to get anything that is promising.

And for the 3 settings - MoveStopOnce, MoveStopWhenPrice and MoveStopTo, I am unclear if it works or not, as some times I see it kicks in, sometime even when I am in large profit and the SL is still in its original setting ...
  • #102
  • Feb 13, 2010 4:39am Feb 13, 2010 4:39am
Quoting mastery
Guys,

I have my 100% profit returned to broker.
Ahh the pain, me and my friends have done that countless times! Don't worry, you'll soon get over it.
  • #103
  • Edited 9:43am Feb 13, 2010 9:18am | Edited 9:43am
Quoting DennisL
The input settings "MoneyManagement" and "Risk" are not working as I expected they would.

My account balance = USD $5,000. It is a demo standard account with a 5-decimal broker (IBFX demo account).

"Lots" = 1.25

"MoneyManagement" = True

"Risk" = 6

"UseStopLoss" = True

"StopLoss" = 240 (really 24 pips; extra zero for 5-decimal account)

I am willing to risk $300 of my $5,000 account on a given trade. $300 of $5,000 is 6%. Trading EUR/USD only, 1.25 standard lots is $12.50 per pip. $12.50 per pip x 24 pips = $300. That...

c'mon, 6% of 5K is $300, thats 3 mini lots at 100:1, close enough. Most risk settings just calculate a percentage of your free margin and have nothing to do with the actual risk...

if you wish to take into account your stop, divide this 24 pip stop, or whatever your stop is at the time, into 100. This will give you the difference between your actual risk and the model risk, in your case about a multiple of 4. Simply multiply this by your 6% risk and you should be all set, a 24% risk setting should compensate for your 24 pip stop and give you a full position.
  • #104
  • Feb 13, 2010 9:55am Feb 13, 2010 9:55am
Quoting keysharp
Mr LLong, excuse the duplication, some of us are a little slow. It is snowing in my part of the world and that is a little unusual, so been in and out helping to clean out the grocery stores.

You werent slow. They had me quarantined to delayed posting for being new here. Maybe they've gotten over it, or maybe its just the weekend.

What a wuss of a storm, everyone got great snow except us... Boston/Cambridge
  • #105
  • Feb 13, 2010 1:51pm Feb 13, 2010 1:51pm
Yes, I know what you mean. In North Georgia and a few snowflakes will close schools. But we did get about three inches. This is the most we have gotten in several years. In fact this year has been wetter and colder than normal. right now i could use a little global warming.
  • #106
  • Feb 13, 2010 5:30pm Feb 13, 2010 5:30pm
Quoting keysharp
Yes, I know what you mean. In North Georgia and a few snowflakes will close schools. But we did get about three inches. This is the most we have gotten in several years. In fact this year has been wetter and colder than normal. right now i could use a little global warming.
global warming: you may not need to wish to much for it;but, one of the classical consequences of global warming is an increase in average precipitation over the northern hemisphere.
  • #107
  • Edited 6:33pm Feb 13, 2010 6:26pm | Edited 6:33pm
As long as it is warm. It will also help with the over population of the Atlanta area and the lack of water over the past several years. But then again being a resident since 56 I do not recall all these difficulties before the national interstate system went into effect. things were slow and easy, we slept with windows wide open latches on the screen door. Now these houses are fortresses with alarms special windows and in some areas with bars. so I guess global warming is not a good thing if it moves a lot of folks into our state. But still it has been really cold for a long time. But I have to say the bug problem will be more easily handled this year since there will be fewer of them. Really hate it when there is a positive for every negative or visa-versa.
  • #108
  • Feb 13, 2010 7:02pm Feb 13, 2010 7:02pm
yikes...those are a lot of problems. anyhow, i hope someone updates this thread and their latest developments.
  • #109
  • Feb 14, 2010 6:00pm Feb 14, 2010 6:00pm
Well here we go, at 6:20 GU took a trade (actuallu 203 of them) at .01 lots and used half of the available margin on a 3,000 account. Right now it is down about 325 not to be concerned. I do not use money management. SL is 70 and Profit is 400 with the percentage closings available in settings. It will be interesting.
  • #110
  • Feb 14, 2010 6:16pm Feb 14, 2010 6:16pm
I have read and re-read all of the answers to all of the questions (not just mine) about setting the input parms to achieve trailing stops, partial position closes, etc. I am more confused than ever.

Allow me to just lay out what I want the EA to do for me, and maybe the EA's author, optojay, can make it clear to me.

1. I want to use risk management and put 6% of my current account balance at risk on any one trade.

2. Lot size is 1.25.

3. Stop loss is 24 pips.

4. Take profit is 16 pips.

5. If the trade moves in my favor by 8 pips, I want to close out 1/2 of my position (.625 lots) and move the stop loss on the remaining 1/2 of my position to the price at which I originally entered the trade, so that if the price reverses and keeps going against me, I will at worst have a net break even trade.

I am trading in a 5-decimal demo account.

Optojay, anyone else, can you straighten me out?

Thanks.
  • #111
  • Feb 14, 2010 10:20pm Feb 14, 2010 10:20pm
hopeless system, 90% to be, i reckon, because i saw its martingale-like position sizing.

geez, a system like 1-2-3, should have advantage/profit solely using a simple buy 1 lot, tp or sl. if the hope is on martingale MM, then the system is hopeless.
  • #112
  • Feb 15, 2010 9:26am Feb 15, 2010 9:26am
How can anyone find a set file that guarantees profit? I find that different brokers give different results with the same set file. I think you have to start with a basic, demo and change the settings to benefit the account with a certain broker. I really don't think you can find a set file that will do what you want.
  • #113
  • Edited 1:26am Feb 16, 2010 1:01am | Edited 1:26am
Quoting DennisL
I have read and re-read all of the answers to all of the questions (not just mine) about setting the input parms to achieve trailing stops, partial position closes, etc. I am more confused than ever.

Allow me to just lay out what I want the EA to do for me, and maybe the EA's author, optojay, can make it clear to me.

1. I want to use risk management and put 6% of my current account balance at risk on any one trade.

2. Lot size is 1.25.

3. Stop loss is 24 pips.

4. Take profit is 16 pips.

5. If the trade moves in my favor by 8 pips,...
I have posted the set file below in zipped format for you to use on a 5-decimal account. Basically, you set your hard TP and hard SL as normal. Then you go to partial close lot module at the bottom. You would set Pips_Target_1 at 80 and Close_Lots_percentage at 50. (thus closing 50% of your lots at 8 pips profit). Then just make sure Pips_Target_2 is larger than your hard TP (already set to 160) and it will close out the remaining 50% of your lots at 16 pips profit.

I also posted my backtest from Oct.1st until now on the UJ - not bad, if I may say! 9% profit on one pair with 5% drawdown and 1 consecutive loss. Interestingly, a martingale approach may do nicely with this system (as I suggested in post #3 of this thread).

I don't know how some of you are getting 100+ trades opened simultaneously. As you can see, I only got 23 trades over 4 months.

Hope this helps!
Attached File(s)
File Type: zip UJ16TP24SL.zip   10 KB | 1,431 downloads
  • #114
  • Feb 16, 2010 1:04am Feb 16, 2010 1:04am
Quoting keysharp
How can anyone find a set file that guarantees profit? I find that different brokers give different results with the same set file. I think you have to start with a basic, demo and change the settings to benefit the account with a certain broker. I really don't think you can find a set file that will do what you want.
Guarantees profit? There are no guarantees in forex trading...

Yes, different brokers have slightly different feeds/data and you may get differing results...I can only imagine that this problem is magnified on scalp-like trading. The 123 setup should not be traded as a scalper system.
  • #115
  • Feb 16, 2010 1:25am Feb 16, 2010 1:25am
Be aware the money management module is not just a simple calculation. Some of you are expecting that if you enter 1% for risk the EA will use a lot size that is 1% of your account lost if your SL is hit.

This is the MM code:

Inserted Code
//Money Management sequence
 if (MoneyManagement)
   {
      if (Risk<1 || Risk>100)
      {
         Comment("Invalid Risk Value.");
         return(0);
      }
      else
      {
         [b][color=blue]Lots=MathFloor((AccountFreeMargin()*AccountLeverage()*Risk*Point*BrokerMultiplier*100)/(Ask*MarketInfo(Symbol(),MODE_LOTSIZE)*MarketInfo(Symbol(),MODE_MINLOT)))*MarketInfo(Symbol(),MODE_MINLOT);[/color][/b]
      }
   }


You can see that after the "Lots=" that it is dependent on FreeMargin, Account leverage, your Risk Input, and other parameters. The code also requires you to enter a number between 1 and 100 percent.

A workaround (as another member has suggested), you can estimate a percentage to risk to have the EA trade an approximate lot size. For example, on a $10k account I set MM at 6% to make the EA trade approximately .41 lots of EU (which would be approx. 1% risk on a 24pip SL - .41lots * $10/pip * 24 pips SL = $99 = 1% of $10k account).

Make sense? Good!
  • #116
  • Feb 16, 2010 4:04am Feb 16, 2010 4:04am
Hi Opto

I am analysing the result of your opto 123 v 1.1 EA, which i have been running on gbp 1 min demo account


For completed trades, in the comments, there is a comment that says 'from #923737XXXX' or 'to#945454545XXX' - what trades do they represent.

There are other trades that say 123 Sell#127XXX and so on.

Are there 2 trading strategies there or what.

Thanks
  • #117
  • Edited 9:21am Feb 16, 2010 8:41am | Edited 9:21am
I have placed this ea on Masterforex and this morning @ 9:14 it picked up 42 trades @lots of .10, used 2150 of margin leaving 5140 available, and by 9:23 an additional number of trades come on raising margin to 3400 and the total trades to 70. All this on USDJPY. And as I am writing, this ea is still taking trades because margin is up to 4500. I take it that this is what's called the martingale system. But it doesn't read right. I thought martingale made up losses by increasing trade numbers. I do not have losses to make up.

I don't know where this comes from, but I do have MM off.All other settings are as provided except sl and tp.

I started this account on 2/11 with 5,000, it is on 6,949 and currently in a 157 draw down and adding trades.
  • #118
  • Feb 16, 2010 9:39am Feb 16, 2010 9:39am
Quoting keysharp
I have placed this ea on Masterforex and this morning @ 9:14 it picked up 42 trades @lots of .10, used 2150 of margin leaving 5140 available, and by 9:23 an additional number of trades come on raising margin to 3400 and the total trades to 70. All this on USDJPY. And as I am writing, this ea is still taking trades because margin is up to 4500. I take it that this is what's called the martingale system. But it doesn't read right. I thought martingale made up losses by increasing trade numbers. I do not have losses to make up.

I don't know where...
Are you using the Opto123 EA with the set file I posted a few hours ago?

Does it open all these trades in the strategy tester too?

There is definitely no Martingale strategy in this EA.
  • #119
  • Feb 16, 2010 9:58am Feb 16, 2010 9:58am
Quoting optojay
Be aware the money management module is not just a simple calculation. Some of you are expecting that if you enter 1% for risk the EA will use a lot size that is 1% of your account lost if your SL is hit.

This is the MM code:

[code]//Money Management sequence
if (MoneyManagement)...
Can you please explain how it determines the lotsize. I have 200$ account and what risk I should use to get the correct lotsize. Also, if I enable MM, it does only calculate the Lotsize for a trade or does it do anything else like managing the open trades (closing for breakeven or anything else)

Thanks for you reply.
Prakash

I had put it on 10k demo account EU 1 hour chart.

First it made a loss of 9.5k leaving only 500 $ in a single day :-(

Today, it made 500$ into 1300$....

it used different lotsizes with MM turned ON. So want to know, how exactly it calculates this.

Can you try to enhance this, by using some trend filters?
  • #120
  • Feb 16, 2010 10:05am Feb 16, 2010 10:05am
Optojay, I am embarrassed but this is the USDBot. I have been treating it as the OPto123, which I do have on two other demos. And no this is not the new set file. I used the file as it came with the ea. and made adjustment to sl and tp.

I have compared the settings of both ea's and don't see a difference. So that is why I haven't thought about scrapping USDB, I will change over to Opto123 as soon as all trades clear so there won't be any question.
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