123 Pattern EA

Well, this is interesting, at 8 this morning I had a balance of 6949 now the balance after all trades cleared is 9,867. the trades taken were from JPY and Eu.

Hey Key

Which bot did that? US$ or OPTO?

So far I'm using the new set file that Opto posted and very good results!

I'm using 15 min as TF - I think Opto's Bot was or is supposed to use 4HR or Higher

Mrchips I have to say that it was US$, even though I think both are the same. I am using the 1hr time frame. It has done better than those higher. I only get about two or three trades but they come in bunches. My next chore is to down load the new set file and install.

good luck to you.

In a previous post I was relating about the 100+ trade situation, well the ea again took trades this time in USDCHF and only 10 trades. Go figure.

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Optojay, thanks for the .set file. I will go ahead and give it a try.

Also, I am having the opposite problem that other contributors to this thread are having. I am not getting any trades on the D1 and H4 time frames. I am getting two or three trades a day on the H1 time frame. I am trading only EUR/USD, not USD/JPY because in earlier trials, USD/JPY performed poorly. Maybe I should fire up USD/JPY again with this .set file.

Optojay, which broker(s) do you recommend for U.S. citizens to trade the Opto123 EA?

I have read tons of broker reviews at Forex Peace Army and other places. By and large, *all* of them get pretty lousy reviews.

Thanks.

Tested for 24hrs live 10 pairs, 16tp24sl....set file... no trades?

This right?

Hats off to opto for sharing and coding

I set up Interbank today with 3 pairs 30 sl and 400 TP with 30 as trailing stop. Have trades going as of now used up all of my available margin. I have had JadeFX running for 5 days no trades. Took it off line.

Yes I am using the set files from Optojay, just changed thwe tp and sl.

Strange I tried with jadefx too with no trades....no errors for me but

-always printed a line blue or red, when suggesting short entry or long entry in top left corner
-never entered when price got there

Just happened to be up, it's 2:39 in the morning. But the same for me. I have another broker, I amFX that is doing the very same thing.

Damn you're in EST!

Yeah would like to get to the bottom of it... I guess only opto can help!

yep, and I am going back to bed. And you are right, opto can help.

night mate

alright anybody what is a "invalid lots number for close order function", I found this in the experts file of my metatrader.

also what are the blue vertical lines and how do they work.

What triggers a trade?

Is is possible to set the maximum number of trades, by pair, that can be opened at the same time?

I have Opto 123 running. It opened and closed 134 trades in 18 hours and made $1953 @ .05 lot size. This was using 8 different currency pairs on a FXDD demo account.

Unfortunately, the are 28 open trades with a -753 return. I have had 2-3 new trades all open in less than a minute.

I would like to just open 1 trade and close it before opening a new one(same currency pair). I am using the Use_Partial_Close = "T".

It appears that, hypothetically, the the number of trades can grow expotentially until they create a stopout, regardless of the account balance. (I up to a $100,000 demo account size. Every one below that blew out!)

Any suggestions?

Hey etvolare, glad you said something. I have had that same situation all week. I started the ea on sunday and it has made me about 9,000 over my equity. the most trades I received is 224, all winners. I have had losses but this ea has brought the balance back up and almost tripled my money. Now as to how to control the trades? the only way I know at the moment is by increasing the lot size. But even then it may clear your available margin and maximize your trades, but there will be fewer trades. I have noticed that this ea will not always make large number of trades. How and why that happens, I do not know.

I hope Opto is somewhere around to read this.

Etvolre, what are your settings and what is your timeframe? You should not have blown your accounts unless your Sl is too large. The trades will increase as the PA is favorable ( as it seems to me) but they will stop when you run out of margin. And this is when you run into trouble when drawdowns start creating margin calls.

Use the settings that Opto put on a post two pages back and you can download. They seem to help.

Hi:
I am testing 123 E.A. with two brokers each with about 10 currency pairs. Time frame =1H,
Settings ipbuffer=1,Lots=0,MM=true,Risk=5,Slippage=5,UseStopLose=true,
SL=20,UseTakeProfit=true,TP=40,UseTrailingStop=true,TS=30,MovingStopOnce=true
MovingStopWhenPrice=20,MoveStop=3.
Results are dismal! Losing/wing ratio about 3(or 4) to 1. I did not count them. I had it tested more than two weeks and there were 6-10 trades each days. My two demo $4000 account each lost about $500.
I am new in forex and this forum and I am looking for suggestion to improve this 123E.A. performance? Any comment would be appreciated.

Guys, lots of questions coming - which is good.

But please, read through posts 1, 2 and 3 of this thread. I didn't post all that material for shits and giggles. I posted that material so that you can learn the logic of how the EA trades. Please test the EA in the strategy tester visually and test your settings over at least a 6 month period (even a whole year) to learn how it works.

If you read these first 3 posts properly, you would see that this EA is recommended on the DAILY timeframe. You should only get 30-50 trades PER YEAR PER PAIR on this timeframe (so of course forward testing for only 24 hrs would unlikely net you any trades!). Doing a visual backtest on smaller timeframes appears to be less consistent in profitability. I will not help troubleshoot the EA on smaller timeframes.

I still do not understand why some of you are getting so many trades opening and blowing your margin. As you saw in my posting recently, my drawdown was less than 5%. You should only be getting 2 to 4 trades per month per pair. Please post your settings and a backtest over the last 3 months to demonstrate your blown account - maybe then I can help you further.

I use Alpari-UK as I am Canadian and can open an account there.

For US citizens, I would stick to the larger brokers even though they all have had good and bad reviews. Big names like Alpari, Dukascopy, FXCM, FXDD would be places I would check first and do research and due diligence on. Note I have not tried these brokers live and am certainly not an expert on brokers or endorsing them.