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Safe (PowerSM Modified) EA

  • #21
  • Edited May 12, 2010 4:37pm May 11, 2010 11:14pm | Edited May 12, 2010 4:37pm
Quoting tinorio
hi guys...

i already backtesting this ea on 5 digit alpari UK, and the result was great.
starting from 04 jan 2010 till today, check the report in the attachment.
I see you altered the stop from the default 20 to 30. Over time it seems to be profitable as well. Did you test it with the default 20 SL also? How did it compare? I suppose there are times where the 20 is better and times where the 30 is better. I personally prefer to maintain the 4:1 (tp:sl) ratio because you never go backwards when completing a progression, although the extra cushion in the stop could string more wins together. Again, it depends on the price action during a certain period.

I do want to point out two misleading elements from your back test results however:

1) despite your success with an initial balance of $1,000, in my opinion this low of a balance is too risky and very subject to getting margin called with mini lots. It just so happens that it didn't during the stretch of time you tested. I recommend micro lots for an account balance below $10,000. All one has to do to convert the lot progression from mini to micro lots is move the decimal over to the left one place.

2) You may have more than doubled an account balance of $1,000 in less than 6 months, but with a higher balance it would not achieve such a high rate of return with regards to percentage. The reason is because the exponential increase in lot size is not fully proporional/offset by the increase in balance.

All in all though this is a great little EA. It is a very simple one-trade-at-a-time approach. It also has the ability to allow manual intervention. My biggest concern is a disconnect to server or power outage which may result in the EA resetting while in the middle of a deep progression (???). I don't know if it picks up where it left off. I suppose worst case scenario, the trade can be continued manually by the trader though. So even that issue has somewhat of a solution.

Scalpz: great tip on the notepad thing.
  • #22
  • May 12, 2010 9:39pm May 12, 2010 9:39pm
Hi all,

Just curious on your forward testing results. So far I have this running on about 20 different pairs, 20 SL, 80 TP and all the other basic stuff.

Starting balance of 10K and after 1.5 days I am down about -850.00!

I am already at my .66 progression on one pair and .24 on another and have had some profitable trades.

I am thinking it is because the market is 'crawling' between 40 pips in most currencies the last few days...

thoughts anyone?
We are our own best indicator.
  • #23
  • May 12, 2010 10:51pm May 12, 2010 10:51pm
Quoting bluemele
Hi all,

Just curious on your forward testing results. So far I have this running on about 20 different pairs, 20 SL, 80 TP and all the other basic stuff.

Starting balance of 10K and after 1.5 days I am down about -850.00!

I am already at my .66 progression on one pair and .24 on another and have had some profitable trades.

I am thinking it is because the market is 'crawling' between 40 pips in most currencies the last few days...

thoughts anyone?
I should of added that this EA is not good to use on multiple pairs. In fact I don't recommend using it on more than one pair at a time. You could maybe go with two pairs if you have a balance of $25K+ AND there are alot of news on the week day/week that will move price to different levels. Otherwise, I would stay away from multiple pairs. Remember you are going to have more loses than wins. So the more pairs you play the larger the reduction to your balance. VERY IMPORTANT: You have to have patience. If you are looking to double your account every month than this EA is not for you. And yes if the market is at a crawl between 40 or so pips, it will get stopped out over and over until the big move that brings account back to par.

The EA doesn't suck trust me. It's how you use it that will determine how good (or bad) it is for you. I use this EA as a side thing from my manual trading since it's a slow earner. Good luck!
  • #24
  • May 13, 2010 7:34am May 13, 2010 7:34am
What kind of returns are you experiencing?

The funny thing is I am at BE now after some moves last night. I can see it should work and I figured that since it is 'crawling' that it would be an issue.

I am not live, just demo for now and after 1 month, will go live if the results are reasonable.

I don't see why not do it on multiple pairs? If you have the balance/bank account?

Or, I guess you could just pick the best pairs, etc...

What do you suggest are the absolute top 3-5 pairs?

Thanks!
We are our own best indicator.
  • #25
  • May 13, 2010 9:36am May 13, 2010 9:36am
I am running this on 3 different pair with 3 different settings.

EURUSD: TP 20 SL 20 BE 15

Martingale setting .1,.2,.4,.8,1.6,3.2...ect

This one is killing my account at the moment. Will have to try something new on this pair.

EURJPY: TP 40 SL 10 BE 10

Martingale Settings

.1 - .1 - .2 - .3 - .4 - .6 - .8 - 1.1 - 1.5 - 2. - 2.7

With these settings I was looking for the pair to hit the BE often while waiting for a spike up or down. It did work yesterday on the drop but not since I have reset it.

GBPUSD: Tp 50 SL 50 BE 25

Martingale Settings

.1 - .2 - .4 - .8 - 1.6 ....ect

This one is up $150.00 so far and think it cold be a keeper.
Attached Image(s) (click to enlarge)
Click to Enlarge Name: PowerSMeurusd.png Size: 64 KB
Click to Enlarge Name: PowerSMeurjpy.png Size: 22 KB
Click to Enlarge Name: PowerSMgbpusd.png Size: 22 KB
  • #26
  • May 13, 2010 1:25pm May 13, 2010 1:25pm
What happens if it runs out of Martingales?

.01;.02;.03 and after 3 rounds does it stay at .03 or go back to .01??

Anyone know? I can test it, but thought you may know.

--EDIT, PS, I am up about 500.00 on 10K account using 22 pairs....
We are our own best indicator.
  • #27
  • May 13, 2010 4:51pm May 13, 2010 4:51pm
Quoting bluemele
What happens if it runs out of Martingales?

.01;.02;.03 and after 3 rounds does it stay at .03 or go back to .01??

Anyone know? I can test it, but thought you may know.

--EDIT, PS, I am up about 500.00 on 10K account using 22 pairs....
It should start the cycle over again.

One feature I just noticed is that if it hits the PT it will take a trade in the same direction rather then reveres as it does when stopped out. That is nice for trending markets.
  • #28
  • May 13, 2010 9:22pm May 13, 2010 9:22pm
Quoting rjlacha
It should start the cycle over again.

One feature I just noticed is that if it hits the PT it will take a trade in the same direction rather then reveres as it does when stopped out. That is nice for trending markets.
When the default cycle runs out, you are probably broke hehe. But if not then it just stops trading. You may have to take over the trades manually or go into the EA properties and add more to the progression. As for the first trade direction it doesn't necessarily go in the same direction as the closing trade. It goes in whatever direction you set as first trade.

blue: 22 pairs will get blown up. All it takes is a few pairs getting deep into their progression and you're doomed. Don't say I didn't warn you. I suggest one, maybe two pairs max simultaneously. You asked what pairs are best. I would recommend any pairs that trend and/or have low spreads. If both then better. You're first choice should be EUR/USD.
  • #29
  • May 13, 2010 9:28pm May 13, 2010 9:28pm
Quoting 2+2=4ex

blue: 22 pairs will get blown up. All it takes is a few pairs getting deep into their progression and you're doomed. Don't say I didn't warn you. I suggest one, maybe two pairs max simultaneously. You asked what pairs are best. I would recommend any pairs that trend and/or have low spreads. If both then better. You're first choice should be EUR/USD.
Great, thanks. Yes, I wouldn't dare do 22 pairs on martingale LIVE! haha
We are our own best indicator.
  • #30
  • May 13, 2010 10:02pm May 13, 2010 10:02pm
When the default cycle runs out, you are probably broke hehe. But if not then it just stops trading. You may have to take over the trades manually or go into the EA properties and add more to the progression.

What is the Start new cycle option for. I would assume that if it is on yes then it starts over when progression is done.


As for the first trade direction it doesn't necessarily go in the same direction as the closing trade. It goes in whatever direction you set as first trade.

True...just coincidence it was in the same direction..
  • #31
  • May 13, 2010 10:17pm May 13, 2010 10:17pm
Quoting rjlacha
What is the Start new cycle option for. I would assume that if it is on yes then it starts over when progression is done.
Correct.


Quoting rjlacha
True...just coincidence it was in the same direction.
Correct again.
  • #32
  • May 14, 2010 11:05am May 14, 2010 11:05am
hi All,

Well, GBPCAD was that magic dose that makes an account explode last night.

I have heard that currency is just plain scary and boy did it show it.

This is why I like testing. So, what is interesting, it made it all the way through my level 3.0 (level 20 or so) and blew up.

The funny part is, the VERY next entry would have been a 140 pip run! haha

However, something interesting is that the EA no longer runs on that currency! period!

I have 'restartnewcycle' to true and yet it just sits there. I also stopped the EA and started live trading again, as well as removed it and added it again...

I even removed the chart and opened a new one, no good. Interesting eh?

Closed out metatrader and reopened it! Nothing. Sounds like GBPCAD is dead for life now... Weird...
We are our own best indicator.
  • #33
  • May 14, 2010 12:06pm May 14, 2010 12:06pm
Quoting bluemele
hi All,

Well, GBPCAD was that magic dose that makes an account explode last night.

I have heard that currency is just plain scary and boy did it show it.

This is why I like testing. So, what is interesting, it made it all the way through my level 3.0 (level 20 or so) and blew up.

The funny part is, the VERY next entry would have been a 140 pip run! haha

However, something interesting is that the EA no longer runs on that currency! period!

I have 'restartnewcycle' to true and yet it just sits there. I also stopped the EA and started...
Try changing the magic # (or EA ID)
  • #34
  • May 17, 2010 1:16am May 17, 2010 1:16am
Quoting 2+2=4ex
...
Hi,

Am using this EA on my live account.

I found that the trailing stop is not fixed. That means, the trailing stop is moving up and down. It is not fixed at the specified level.

Any idea?

Regards,

Victor V

福 子 Victor V
  • #35
  • May 17, 2010 1:35am May 17, 2010 1:35am
Quoting 2+2=4ex

......
It looks like the trailing stop is a buffer feature to hit the TP target at the same time protecting the position.

Is it possible to have a traditional trailing stop in place?

Victor

福 子 Victor V
  • #36
  • May 17, 2010 10:22pm May 17, 2010 10:22pm
Quoting camvcvoo
It looks like the trailing stop is a buffer feature to hit the TP target at the same time protecting the position.

Is it possible to have a traditional trailing stop in place?

Victor

Use MPTM EA from Steve Hopwood. It manages all positions no matter what.

You have to put it on a separate chart and set it up.
We are our own best indicator.
  • #37
  • May 17, 2010 10:23pm May 17, 2010 10:23pm
Quoting camvcvoo
Hi,

Am using this EA on my live account.

I found that the trailing stop is not fixed. That means, the trailing stop is moving up and down. It is not fixed at the specified level.

Any idea?

Regards,

Victor V

How are your results. Want to put them on mt4i.com or something like that?

It has done nothing but drain my account, so tonight I have restarted and setting it up for only 6am GMT --> for best trending times.
We are our own best indicator.
  • #38
  • May 17, 2010 11:23pm May 17, 2010 11:23pm
Quoting bluemele
How are your results. Want to put them on mt4i.com or something like that?

It has done nothing but drain my account, so tonight I have restarted and setting it up for only 6am GMT --> for best trending times.
Increase the TP, SL, BE a little. 100:25:75 or 120:30:90. Remember patience is the key here. Also, don't start trade from an overleveraged position. It will drain your account between the wins. Lastly, the trailing stop function causes more harm then good from my experience. Due to the progression of lots trailing stop could cut profits short or prevent a win is trailingstart is set too high.
  • #39
  • May 20, 2010 9:05pm May 20, 2010 9:05pm
Quoting 2+2=4ex
Increase the TP, SL, BE a little. 100:25:75 or 120:30:90. Remember patience is the key here. Also, don't start trade from an overleveraged position. It will drain your account between the wins. Lastly, the trailing stop function causes more harm then good from my experience. Due to the progression of lots trailing stop could cut profits short or prevent a win is trailingstart is set too high.
Ok, thanks. I had it much larger, like 80, 20, 60 but it still just lost.

I will try the new settings and see... I also limited the currencies..
We are our own best indicator.
  • #40
  • May 21, 2010 1:47am May 21, 2010 1:47am
I change according to your instruction. But still getting the same message invalid stops. I have account with the Easy-forex broker. Please help me.
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