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Simple H1 GBPUSD EA

  • #3,041
  • May 22, 2010 8:13am May 22, 2010 8:13am
Quoting geoffb65
I know, it is difficult to hold back with this type of query but I take a slightly different attitude because there is something to admire when someone new to forex decides to go straight in there with a live account.


Fortunately for gabri, our EA is exceptionally good, so their first experience is not going to be as dangerous as it would be with other EA's and for this reason I propose that we help gabri stay out of trouble while learning about forex, hopefully, in a way that will give them confidence!

Hi geoffb65 !

I want to ask you if the last version ofSimple H1 GBPUSD EA is that one on the first page EAv7, because on your test sawanother version
"EAv7-303".
It's the same version ?
Is there a set file ? And a manual ?
I think the valid test are only the live tests.

Thank you
Vasi
  • #3,042
  • May 22, 2010 8:21am May 22, 2010 8:21am
@ryc_warlock
very "unusual" set file you have - it completly disagrees with the default and is, as I know, not recommended here !
  • #3,043
  • May 22, 2010 8:50am May 22, 2010 8:50am
Quoting ryc_warlock
is it right sir Geoff?
i just need confirmation...because..wheter this work or not?
Attachment

Attachment
V4 has been updated to v4a see post #1.
  • #3,044
  • May 22, 2010 8:51am May 22, 2010 8:51am
Just woke up and took some time to read the last posts.

Everybody entitled to his own opinion.

Seems a couple ofpeople here go for the idea to give a person a drivers license, let him take a Ferrari on the road and then start asking questions what to do when you are about to cross a red light at 100km/h.

Common people, this is not a game, this is a business.

Now I start to wonder if my doctor also just opened his practice and now start studying medicine
  • #3,045
  • May 22, 2010 8:53am May 22, 2010 8:53am
Quoting vasi
Hi geoffb65 !

I want to ask you if the last version ofSimple H1 GBPUSD EA is that one on the first page EAv7, because on your test sawanother version
"EAv7-303".
It's the same version ?
Is there a set file ? And a manual ?
I think the valid test are only the live tests.

Thank you
Vasi
The latest version is v7a see post #1.

All the default values are correct except the broker GMT offset which you must set correctly to get good results.
  • #3,046
  • May 22, 2010 8:57am May 22, 2010 8:57am
Quoting Freddyfx
Just woke up and took some time to read the last posts.

Everybody entitled to his own opinion.

Seems a couple ofpeople here go for the idea to give a person a drivers license, let him take a Ferrari on the road and then start asking questions what to do when you are about to cross a red light at 100km/h.

Common people, this is not a game, this is a business.

Now I start to wonder if my doctor also just opened his practice and now start studying medicine
The brokers will let you burn any number of $500 accounts, could it be that this is why they allow such small amounts, surely not!
  • #3,047
  • May 22, 2010 9:00am May 22, 2010 9:00am
Quoting ryc_warlock
is it right sir Geoff?
i just need confirmation...because..wheter this work or not?
Attachment

Attachment
See post # 2958

There you will find v4a, the latest and safest version!
  • #3,048
  • May 22, 2010 9:10am May 22, 2010 9:10am
I am
http://t2.gstatic.com/images?q=tbn:3...k%2520face.jpg
 Whatever possessed you to post this ea?
Certainly your good fortune will multiply many-fold for sharing this with the struggling multitudes of which I am a member...
This is true charity.
I had noticed that there is a definite trend in the Asian session, not always a major trend, sometimes a bit of retracing, and not necessarily a very long trend, but definitely a trade-able movement. This ea of yours captures that move very nicely...
The chart is a back test of which I have run several for different dates. All have shown to be nicely profitable. I will be running this forward on the demo for a while.
Many thanks...
Jiva
Attached Image (click to enlarge)
Click to Enlarge Name: ea 7.gif Size: 75 KB
  • #3,049
  • May 22, 2010 9:18am May 22, 2010 9:18am
Quoting jiva34
I am awestruck!!!
Whatever possessed you to post this?
Certainly your good fortune will multiply many-fold for sharing this with the struggling multitudes of which I am a member...
This is true charity.
Many thanks...
Of course it didn't start out as good as it has become, the original idea held "promise"
but it has taken a lot of work to make it good!
  • #3,050
  • May 22, 2010 10:46am May 22, 2010 10:46am
Anyone who can help clarify this: In the V4a, with the folllowing default parameters

Take Profit =80
Stop Loss = 120
Trailing Stop =9

would mean when price reaches a profit of 10 pips, Stop Loss is put to 1 pip above entry price (long trade) and the Stop Loss of 120 will no longer be valid, right?

Thanks.


CY
  • #3,051
  • May 22, 2010 10:53am May 22, 2010 10:53am
Quoting ertorque
Anyone who can help clarify this: In the V4a, with the folllowing default parameters

Take Profit =80
Stop Loss = 120
Trailing Stop =9

would mean when price reaches a profit of 10 pips, Stop Loss is put to 1 pip above entry price (long trade) and the Stop Loss of 120 will no longer be valid, right?

Thanks.


CY
Correct!
  • #3,052
  • May 22, 2010 10:56am May 22, 2010 10:56am
Quoting SlimTom
When I entered Forex - as gabry wants to - I didn't aks his question, and my acc. or at least - nobody answered me so honestly - si I got wiped out. I admire your attitute - Geoff... I also started with a EA, that very easily wiped out mine hard earned 500€. I tested it before on demo for 2 months - and I was sure it'll make me money... . And it did - for 14 days until may 6th. So now I am reading this thread and learning... I guess 500€ for a lesson was not too much because since then I really got involved in studying Forex...

Gabry - if...
hi, thanks for your reply

this 500€ will be used like a "test", fortunately this money are not fundamental for me

i'm trying with demo accounts with boss ea and it works very well, even too much. so i would like to open a micro account in alpari to test it with microlots with real spread.

some days ago i read about this incredible ea and i start to back test it, it seems even better than boss. so i decide to test it in live. maybe 500 euro is not too much for both ea, but i use microlots even with boss, and if it will loose too much i will test only the "Simple".
  • #3,053
  • May 22, 2010 12:11pm May 22, 2010 12:11pm
Quoting gabri
hi, thanks for your reply

this 500€ will be used like a "test", fortunately this money are not fundamental for me

i'm trying with demo accounts with boss ea and it works very well, even too much. so i would like to open a micro account in alpari to test it with microlots with real spread.

some days ago i read about this incredible ea and i start to back test it, it seems even better than boss. so i decide to test it in live. maybe 500 euro is not too much for both ea, but i use microlots even with boss, and if it will loose too much i...
Have you seen this report on Boss, they claim it is a scam.

http://www.forexpeacearmy.com/public...ww.ea-boss.com
  • #3,054
  • May 22, 2010 1:24pm May 22, 2010 1:24pm
Great work geoff,

sorry if this is a blond question, but the test you have running on the V7 ea in your signature (currently up 8%)...what is the risk settings at this version? 10% risk per trade or? Where do I see the settings?

Thanks in advance,

BR

PC
Less is more...
  • #3,055
  • May 22, 2010 1:38pm May 22, 2010 1:38pm
Quoting pipcruiser
Great work geoff,

sorry if this is a blond question, but the test you have running on the V7 ea in your signature (currently up 8%)...what is the risk settings at this version? 10% risk per trade or? Where do I see the settings?

Thanks in advance,

BR

PC
Ah, I can't check it for you while the market is closed and I can't remember for sure but I think it is 5% which was Med risk on v7, I will be changing it to v7a on Monday but I may still leave the risk at 5%.
  • #3,056
  • Edited 5:02pm May 22, 2010 4:52pm | Edited 5:02pm
Quoting geoffb65
I know, it is difficult to hold back with this type of query but I take a slightly different attitude because there is something to admire when someone new to forex decides to go straight in there with a live account.

Clearly, an account has been set up, the stoploss has been considered and gabri has decided, rightly, to ask our advice on the lot size, so do we help gabri to stay out of trouble or do we send them away to learn forex first?

Fortunately for gabri, our EA is exceptionally good, so their first experience is not going to be as dangerous...
Geoff, you are an awesome and helpful trader and I do admire your patience answering such posts. To count the risk properly, should be one of the first exercises in Forex for a newbie as well.

And please, let me tell you a personally story about EA's. 3 years ago I coded some ideas into an EA. The backtesting over years was incredible and the first year of live trading (2008) was unbelievable successful. 2009 I got a kick in the a... The market conditions changed dramatically.

I really hope and wish, that your EA will be successful for a long time. But if not.... I have my doubts that spoon feeding will help new traders in such situations.

Forgive me my opinion.

Freedy, your post hit that nail right on the head.
  • #3,057
  • May 22, 2010 8:44pm May 22, 2010 8:44pm
After testing several different settings
best results for Jan 1 through May 21st
greatest return with least drawdown...
using eav7,
50 slow
9 fast
140 stop
fxdd gmt +3
screenshot is just for May
total for Jan thru May +934
Attached Image (click to enlarge)
Click to Enlarge Name: ea 7b.gif Size: 69 KB
  • #3,058
  • May 23, 2010 1:46am May 23, 2010 1:46am
Quoting jiva34
After testing several different settings
best results for Jan 1 through May 21st
greatest return with least drawdown...
using eav7,
50 slow
9 fast
140 stop
fxdd gmt +3
screenshot is just for May
total for Jan thru May +934
There are many permutations of the settings and I encourage people
to try them out.

In order to have a "standard" I always do a 12 month test, I don't say that this is the best length of time but using this period gives us the same base line to judge the results.

If testing is taking a long time, change the Show_Settings to false!
  • #3,059
  • May 23, 2010 2:05am May 23, 2010 2:05am
Quoting stevehooks
Geoff, you are an awesome and helpful trader and I do admire your patience answering such posts. To count the risk properly, should be one of the first exercises in Forex for a newbie as well.

And please, let me tell you a personally story about EA's. 3 years ago I coded some ideas into an EA. The backtesting over years was incredible and the first year of live trading (2008) was unbelievable successful. 2009 I got a kick in the a... The market conditions changed dramatically.

I really hope and wish, that your EA will be successful for a long...
I agree with everything you and Freddy say, risk management should be the first lesson for any new trader, unfortunately it usually is the first lesson they learn when their account gets wiped-out!

I try to promote using only 1% of the equity but I am quite sure this is often ignored because, with a small account the gains are so small that people get impatient and after a few good results they are drawn into increasing their risk, it's just human nature!

Couldn't your own EA be modified to operate in the different market conditions?
  • #3,060
  • Edited 3:47am May 23, 2010 3:00am | Edited 3:47am
Before this thread decends into an argument about training, risk
management and who is or is not suitable to trade forex let me remind
everyone what is the purpose of this thread!

Simple H1 GBPUSD EA

That's it, nothing more, I don't do training of any description nor do I
give investment advice, I coded an EA (badly, so I'm told) and offered the
strategy here in this thread and if others want to talk about training let
them open their own thread.

I assume that anyone coming to this thread is interested in applying the
EA to their account, I don't question their experience or their ability to
trade forex, I don't need to know their level of competence, if they want
to use this EA they can use it, end of story!

When people ask questions that others think are stupid, I try to answer
them because, having assumed that people know what an EA is I do not
assume that they know how to get an EA working on their account.

Being new to EA's does not necessarily mean that someone is new to trading!

A couple of years ago I had never used an EA and did not know how to
load it on to my platform and when I requested information on FF threads
I was told to go away and learn how to trade forex before bothering these
self appointed gurus with my stupid questions.

At that time I had been trading forex for over 20 years so I was a bit put
out by this attitude and, needless to say, didn't bother posting on "their"
thread ever again.

As long as I moderate this thread there will be no place for that sort of
put-down and I will continue to answer the same questions over and over
again till the boredom drives me insane.

If you don't agree with me on this or if you have a different agenda to the
stated purpose of the thread, the answer is simple, open your own thread!
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