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Simple H1 GBPUSD EA

  • #961
  • Apr 29, 2010 1:35am Apr 29, 2010 1:35am
Quoting Haishang
Just by putting EUR/USD and GBP/USD into one chart and extracting 23.00 to 02.00 GMT.....correlation does not look that bad, correct?
I must admit that I have not had chance to study EUR or any other pair as I have been concentrating on the EA with respect to GBP.

I have noticed that the spread is very important in back testing.

Some people on IBFX report no losses, spread about 1 pip.
I get 3 to 4 losing days per year using Alpari, spread about 2 pips.
On testing with forex.com I got 8 losing days, spread 4 pips.

Also, most of the losses are on Sunday/Monday, the first trade of the week, after a gap up or down!

These are ealy days for the EA and the more people testing the sooner we will elliminate the remaining problems.

Thank you for sharing your knowledge and experience with us!
  • #962
  • Apr 29, 2010 2:08am Apr 29, 2010 2:08am
Quoting brc021
Hello Geoff at all,
this week I missed 3 trades on my Alpari Demo account (they would have all been profitable) due to following errors:
"128" = Trade Timeout
"129" = Invalid price

I believe other people with missed trades might have the same problem
Could people with missed trades please check in "expert" tab if these were missed for above errors, too ?

I think, if even in demo account , so many trades are missed already,
in theory on live accounts it should be even worse.

Geoff, can you please try to add some codes in the EA,
to...
Hi Michael
I am sorry for your missed trades, I am working on retrying orders, but I must point out that I have only tested the EA on 2 brokers, Alpari and forex.com, and to be honest there is no way that I can test it on every broker in the world!

If you look at the code you will see that we have a slippage of 5 currently which should be enough for any broker.

What I can say about brokers is, no I can't say that in public!

If your spread is greater than 2 pips you will get more losses than someone on less than 2 pips!

If you have an ECN broker, download a demo account and test the EA, if it works which could very well be the case, please report it here.

Frankly, this effects very few people and I know that if we could afford an ECN account we could all be very rich but $30 a pip will be beyond most people on this thread.

I am not trying to make excuses Michael, I am working hard to reduce the problems with the EA but these are problems that have shown up after just a few days of testing, how many more will show up after months of testing?
  • #963
  • Apr 29, 2010 2:14am Apr 29, 2010 2:14am
Quoting mary4x
The EA closed first trade at $22, and second trade is now at $26. If I'm happy with my profit after the next two hours, can I go ahead and manually close the second trade, or does that mess up the EA? And if I do close the second trade manually, is it okay to turn off the computer and restart it tomorrow? (it's 6:07 pm here on West Coast).

Thanks for any help.
If you are happy with your profit you can close the order manually it will not effect the EA and will prevent the trailing stoploss from reducing your profit.

Once orders are closed it is ok to switch off your computer!
  • #964
  • Apr 29, 2010 2:16am Apr 29, 2010 2:16am
Quoting fguru
I'm using 3 different demo accounts, IBFX, Forex.com and FXCM. Until now I get the best results with IBFX! Forex.com and FXCM have more or less the same results, but IBFX is much better (around 25% more profit)! I haven't tested it on live accounts yet but on demo IBFX is clearly the winner.
Can you tell us the spread on each of these accounts please?
  • #965
  • Apr 29, 2010 2:20am Apr 29, 2010 2:20am
Quoting Taiyakixz
Tokyo open 0:00 GMT, now 23:15 GMT.
Anyway upper fractal is showing 2 bars ago now, EA will take order short 5 min later if trend does not change.
I see you understand the entry conditions perfectly!
  • #966
  • Apr 29, 2010 2:36am Apr 29, 2010 2:36am
Other two wins tonight. I'm really pleased how it's performing. It even covered my crappy trading from the last days... I think I'll just watch from now on.
  • #967
  • Apr 29, 2010 2:43am Apr 29, 2010 2:43am
Quoting Emanuele
Other two wins tonight. I'm really pleased how it's performing. It even covered my crappy trading from the last days... I think I'll just watch from now on.
Very pleased to hear that!

You can't beat winning while you sleep!
  • #968
  • Apr 29, 2010 2:58am Apr 29, 2010 2:58am
Quoting Haishang
Good morning Michael,

you sound a bit frustrated about reliability of the demo account and are even more concerned if it comes down to live trading. Question for me, who was filled this morning both in EUR/USD and GBP/USD with highest accuracy, is the following:
1) Is the problem you described a systematic problem or
2) Is the problem you described inherent to the business model of these retail brokers.

having traded more than 15 years FX interbank both spot and options I take spreads as a cost of doing business. But, systematic problems cannot...

Hello Haishang,
when talking about order /closing opening errors, in my view ,
both options you called are applicable (eg. slippage will even occur on ECN brokers in live account , however usually not on demo account, so if an oder send error occurs due to that, this is a systematic problem)

However, in past 2 years I have been trying to get succesful with a lot of scalping EAs on alot of different brokers,
starting from Fapturbo EA , to maybe 20 more other EAs with similar strategy.
Most of theses EA work great on demo, but fail miserably on live accounts, at least on typical "dealing desk brokers"

Why ?

Because any dealing desk broker is trading against the traders. If you loose they will win, and other way round.
So they use all kind of tactics to manipulate your trade to go loose,
starting from stop hunting, price feed manipulation, trade context busy errors preventing your trade to get closed etc.

This has started when Fapturbo was realised about 2 years ago and all of a sudden 10 thousands of people were starting to make money by scalping during Asia session, so brokers had to find ways to prevent themselves from loosing.

This manipulation of course affects scalping much more than other strategies going for more pip profits, so a trader with 50 pips profit targets or more will probably not have any issues at most dealing desk brokers who are horrible for "scalpers" at the same time.

On ECN brokers, the brokers get commission for every trade, no matter if profit or loss, so this is their secure earnings so they do not need to trade against you.
This is why scalp trading on ECN brokers goes alot more smoothly and "without manipulation" compared with dealing desk broker.
Only thing you still have is slippage, typically within 1-2 pips on entry and exit, on normal ranging market, sometimes in your favor other times against you, but unless you go for scalping only 2-3 pips per trade, this is an acceptable issue to me.

So my vote for an ECN broker to use for live trading is not because of the better spread in the first place (if you factor in commission, you pay about the same as on a dealing desk broker for every trade)
it is just the knowledge that my trades are executed straight forward and smoothly, without manipulations.

The lower spread however has one big advantage:
It helps you to reach your TP easierly. It can be you miss your TP
on 4 pips spread broker, but you would reach it on a 2 pips spread broker at the same time. So I rather to go for lower spread + commission, to make sure I have a bit of help to reach the TPs.

Cheers,
Michael
  • #969
  • Apr 29, 2010 4:02am Apr 29, 2010 4:02am
Thanks everyone now i understand the reason why there is no TP/SL.
I will try with false today and see how it works.

Regards
velli
  • #970
  • Apr 29, 2010 4:26am Apr 29, 2010 4:26am
Quoting geoffb65
Also, most of the losses are on Sunday/Monday, the first trade of the week, after a gap up or down!
Just thinking out loud here Geoff, but do you see any value in adding a 'Trade Sunday Candle' user input?

The reason I ask is because I know Steve Hopwood uses one to stop his EA's trading Sundays, and so I thought that maybe we could ask his permission to use the code if you think it'd be worthwhile.
  • #971
  • Apr 29, 2010 4:37am Apr 29, 2010 4:37am
If the slope is positive place a long order.
If the slope is negative place a short order
what does mean slope positive and negative
do u mean positive if candle close above 10 sma and vice versa .
  • #972
  • Edited 5:10am Apr 29, 2010 5:00am | Edited 5:10am
Quoting whiteash
Just thinking out loud here Geoff, but do you see any value in adding a 'Trade Sunday Candle' user input?

The reason I ask is because I know Steve Hopwood uses one to stop his EA's trading Sundays, and so I thought that maybe we could ask his permission to use the code if you think it'd be worthwhile.
I have just tested this on my EA and it only reduced the losing days by 2 but it reduced the overall trading days by 40 with the subsequent reduction in overall profit!

So I don't really think that would be an improvement!

I have also tried a MACD filter, this reduced the number of losing trades significantly but also reduced the overall profit by a third!
EDIT: I have attached the strategy report for this filter.

It does appear to be difficult to improve this EA without suffering a significant reduction in profit!
Attached File(s)
File Type: zip Simple+MACD.zip   46 KB | 313 downloads
  • #973
  • Apr 29, 2010 5:16am Apr 29, 2010 5:16am
Quoting geoffb65
Good morning everyone!

Another 44 pips while I slept, not bad for a beginner!

I know there are a few niggling problems with the EA but come on guys we have only been testing it for a week!

I am addressing the problems and will soon be ready to give you an upgraded version that should be much better!
Geoff,

Thank you for your patience and contribution all these while.

Looking forward to your new make up for what is already an awesome EA!

Cheers!
福 子 Victor V
  • #974
  • Apr 29, 2010 5:22am Apr 29, 2010 5:22am
Quoting camvcvoo
Geoff,

Thank you for your patience and contribution all these while.

Looking forward to your new make up for what is already an awesome EA!

Cheers!
Hi camvcvoo!

Thank you for your kind words!

I have had many suggestions for the next issue and I am "plodding" my way through them, of course some suggestions are better than others so it will be difficult to find the ones that suit the majority of users.

To be honest, I have no idea how many people are using the EA and even less idea how many have managed to get it working for themselves!
  • #975
  • Apr 29, 2010 5:24am Apr 29, 2010 5:24am
Quoting geoffb65
I have just tested this on my EA and it only reduced the losing days by 2 but it reduced the overall trading days by 40 with the subsequent reduction in overall profit!

So I don't really think that would be an improvement!

I have also tried a MACD filter, this reduced the number of losing trades significantly but also reduced the overall profit by a third!
EDIT: I have attached the strategy report for this filter.

It does appear to be difficult to improve this EA without suffering a significant reduction in profit!
geoff,
Can you do the same test but with default GMT parameters. i.e GMToffset=0, Start time 1.
It seems results differs alot because of time changes.
The Road appears under the steps of walking men...
  • #976
  • Apr 29, 2010 5:31am Apr 29, 2010 5:31am
Quoting geoffb65
I have just tested this on my EA and it only reduced the losing days by 2 but it reduced the overall trading days by 40 with the subsequent reduction in overall profit!

So I don't really think that would be an improvement!

I have also tried a MACD filter, this reduced the number of losing trades significantly but also reduced the overall profit by a third!
EDIT: I have attached the strategy report for this filter.

It does appear to be difficult to improve this EA without suffering a significant reduction in profit!
Thanks for testing. Looks like this EA is just simply awesome as it is!
  • #977
  • Apr 29, 2010 5:33am Apr 29, 2010 5:33am
Quoting Soondoock
geoff,
Can you do the same test but with default GMT parameters. i.e GMToffset=0, Start time 1.
It seems results differs alot because of time changes.
In the new issue I am planning to do away with the start_time option as this is fixed at 23:00 GMT.

I favour just having the GMT offset option which everyone should be able to set without too many problems, or am I being naive?

I would prefer to code this into the EA so it will make the GMT adjustment automatically but I haven't quite got the DLL feed sorted out yet!

Give me a bit more time and I will crack it!
  • #978
  • Apr 29, 2010 5:34am Apr 29, 2010 5:34am
Demo took two short trades last night and my first night running this live on Alpari also resulted in two short trades. Both demo and live opened and closed at same time both with 41pip profit.

Thanks Geoff
  • #979
  • Apr 29, 2010 5:35am Apr 29, 2010 5:35am
I am wondering.. why am I getting different results from what you have guys !!

My broker is Alpari UK and the results can be viewed from the following links:

For version 4:
http://www.myfxbook.com/portfolio/simple-v4/27421

For version 3:
https://www.myfxbook.com/portfolio/simple-v3/27420

I did not change any of the default settings. My system time is set to ETC/GMT
  • #980
  • Apr 29, 2010 5:40am Apr 29, 2010 5:40am
Quoting whiteash
Thanks for testing. Looks like this EA is just simply awesome as it is!
Yes, I think the underlying strategy is reliable....

Maybe we will just have to accept the occasional losing trade, after all, there is no such thing as a "perfect" strategy, if there was we would all be millionaires!
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