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Simple 3 order GBPUSD EA

  • #561
  • May 19, 2010 10:05am May 19, 2010 10:05am
Quoting geoffb65
Using v3 it would be difficult for the EA to miss the TP3 stoploss adjustment because it was doing it on every tick, that is why I modified it in v3a.

It sounds more like the EA lost control of the open order before it moved the stoploss up to +10, which would mean it lost it immediately after it moved the TP2 stoploss up to break-even.

It is difficult to see how it could go wrong but, obviously it did!

Thanks a lot Geoff, but I can't seem to find a V3a here... I thought the latest was the V3...
  • #562
  • May 19, 2010 10:05am May 19, 2010 10:05am
Quoting charvo
@ Geoff

Many Thanks in the first place!

I read the code of your sharp EA.

I have an impression that daily hi/lo and pivot/targets those drawn on the chart are not really related to your entries, are they？

the entry algorithm is concise and original, nice work!
Yes, the daily pivot and daily range are just for information!

Thank you for the kind words, simple and concise was the original plan!
  • #563
  • May 19, 2010 10:07am May 19, 2010 10:07am
Quoting Chantalb
Thanks a lot Geoff, but I can't seem to find a V3a here... I thought the latest was the V3...
Sorry v2a to v3 it is, please make allowances for my great age!
  • #564
  • May 19, 2010 10:37am May 19, 2010 10:37am
Does anyone have any of Geoff's wonderful EAs on a live account of $10,000 or more? If so, which one/s and how are they doing? Which broker?
  • #565
  • May 19, 2010 12:04pm May 19, 2010 12:04pm
Quoting mary4x
I've been out of town and just now read your post (3:50 a.m. here). I reduced my % to .02 and got roughly $10 out of the trade with all three in profit! Wow. Can't go far on that...
Mary, Geoff has already responded that sooner or later, the stop loss will be hit. That is 420 pips. At 20 cents a pip, that's $84.00. At .50 cents a pip, it's $210.00. On a $1,000.00 account, that's a loss of 21% on one trade, which would take you quite awhile to get back.

That same .50 a pip would have made you $25.00 in one day using your example of making "only" $10.00 at .20 a pip. Not bad at all on a $1,000.00 account. IF you were risking a loss on a one to basis of that same $25.00, that would be one thing. BUT...you are risking a loss of almost TEN times that much.

IF someone had an EA with this kind of win ratio with a potential loss of only the same as the potential win, it would be the holy grail of forex. The reason this EA has a back test of an extremely high percentage of wins is precisely because the risk to reward is very high, and people need to keep in mind this fact, and risk only money that they can afford to lose if maybe there are a few weeks that get 5 or more losses because the market has changed.

As Geoff said, you need an account of about $5,000.00. I personally have lost a substantial sum in forex years ago because of a system that was "foolproof". Today, I would much rather make $25.00 a day than lose a thousand in one day.
  • #566
  • May 19, 2010 12:15pm May 19, 2010 12:15pm
I agree with paradoxical. It was optimized using the optimizer to get those large stop losses. If you are averaging $60 a win from all 3 trades and have an average of 8 trades for each per month (24 individual trades), then if you have 5 losing trades, you'll blow away all your earnings in the past 5 months. Obviously if this happens early, then that is really bad.

What needs to happen is lower the stoploss and find out how to exclude or try to exclude those losing trades by some other indicator. Let us know your ideas. We can make those changes and rerun through backtest to see results, but even if it brings up a few more losses but lowers the potential loss from 420 to even lower than 100 pips (maybe around 30 pips for each), then that is a big difference and can make the difference between a strategy that can look really good and then wipe your account as soon as you load up with more lots compared to one that can be used for months/years to come with controlled risks.

jd
  • #567
  • May 19, 2010 1:32pm May 19, 2010 1:32pm
Thanks for the cautionary tales. Maybe Version 4 would be the right plan for now.
  • #568
  • May 19, 2010 1:56pm May 19, 2010 1:56pm
Quoting geoffb65
Sorry v2a to v3 it is, please make allowances for my great age!
LOL... The third trade just hit SL... I will watch it carefully tonight that's if we get a trade
  • #569
  • May 19, 2010 3:27pm May 19, 2010 3:27pm
Hi Geoffb65,
Yesterday I have no trades with AlpariUK and FXCM (demo accounts both)
I never used a EA before so i don't know if I'm doing it right.
I made it by the simple way, open the EA without any change. The only modification I heard in this tread is for the time, but it is already preparate for Alpari with a deftual number 2. Anything else?
  • #570
  • May 19, 2010 4:10pm May 19, 2010 4:10pm
Quoting Mr.Bosch
Hi Geoffb65,
Yesterday I have no trades with AlpariUK and FXCM (demo accounts both)
I never used a EA before so i don't know if I'm doing it right.
I made it by the simple way, open the EA without any change. The only modification I heard in this tread is for the time, but it is already preparate for Alpari with a deftual number 2. Anything else?
My Alpari UK account traded yesterday but I don't think it will today.

You are correct, the defaults are set for Alpari UK.

Have you got a smiley face on your platform and live trading allowed?
  • #571
  • May 19, 2010 4:16pm May 19, 2010 4:16pm
Quoting lawgirl21
Does anyone have any of Geoff's wonderful EAs on a live account of $10,000 or more? If so, which one/s and how are they doing? Which broker?
Mary - just closed account with Go Markets and opening with new broker - but it'll take about 5 days or so for wire transfer to get in so I can start trading live again. Right now I'm monitoring v6 - v7a - Camvcvoo3 & 3a on demo with 4 different brokers. Will let you know what I decide to do based on results.
Bill
  • #572
  • May 19, 2010 4:29pm May 19, 2010 4:29pm
how do i open an ea in MT4?

how do i scan for history of the ea?

pls help...thanks
  • #573
  • May 19, 2010 4:40pm May 19, 2010 4:40pm
will my ea still work when i off my computer?
  • #574
  • May 19, 2010 4:49pm May 19, 2010 4:49pm
Quoting Flamenco143
Mary - just closed account with Go Markets and opening with new broker - but it'll take about 5 days or so for wire transfer to get in so I can start trading live again. Right now I'm monitoring v6 - v7a - Camvcvoo3 & 3a on demo with 4 different brokers. Will let you know what I decide to do based on results.
Bill
Thanks, I look forward to hear of your results.
  • #575
  • May 19, 2010 4:50pm May 19, 2010 4:50pm
Quoting geoffb65
My Alpari UK account traded yesterday but I don't think it will today.

You are correct, the defaults are set for Alpari UK.

Have you got a smiley face on your platform and live trading allowed?
No, my face isn't happy. What does it mean?
  • #576
  • May 19, 2010 5:02pm May 19, 2010 5:02pm
your EA is switched OFF !
  • #577
  • May 19, 2010 5:13pm May 19, 2010 5:13pm
Looks to me like we won't get a trade today.
  • #578
  • May 19, 2010 6:05pm May 19, 2010 6:05pm
Quoting sg_trader
how do i open an ea in MT4?

how do i scan for history of the ea?

pls help...thanks

A performance report is in the very first post of the thread.
Perhaps going to mt4 site or just googling installing an EA would get you going.
Pretty basic stuff
  • #579
  • May 19, 2010 6:15pm May 19, 2010 6:15pm
Just an idea.

Maybe we can setup a SKYPE group for this and communicate outside this FF site. Would be faster in updating.

I go by a number of rules when I do training:

1. Have finished www.babypips.com
2. Learned from your broker how to run your platform.
3. Have www.teamviewer.com installed, so I can help directly on your pc when stuck, plus show my screens if needed.
4. Have www.skype.com installed, and have audio capabilities. Refuse to sit typing and typing, while modern facilities are available to make the job at hand easier, lol

If above is not met, I am not wasting my time on helping people.
After all, one needs to get the tools before addressing a job.

This way a lot of work can be done fast and easy problems fixed in a jiffy.
  • #580
  • May 20, 2010 1:47am May 20, 2010 1:47am
Quoting Freddyfx
Just an idea.

Maybe we can setup a SKYPE group for this and communicate outside this FF site. Would be faster in updating.

I go by a number of rules when I do training:

1. Have finished www.babypips.com
2. Learned from your broker how to run your platform.
3. Have www.teamviewer.com installed, so I can help directly on your pc when stuck, plus show my screens if needed.
4. Have www.skype.com...
Hi Freddyfx

Do I take it that you are volunteering to offer these services to the members of the thread, if so I am impressed and really I appreciate your selfless offer!
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