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Safe (PowerSM Modified) EA

  • #61
  • May 28, 2010 5:13pm May 28, 2010 5:13pm
not an EA fan myself, but i'll check it out.
  • #62
  • Edited 6:02pm May 28, 2010 5:49pm | Edited 6:02pm
The EA can be extremely potent if this is done: At any level when a TP is hit , you don't close all the LOT. You lock a certain amount of profit and move SL to BE for the rest to have more run , then you can add more pips for profit or trail stop it! This way you can make more pips while you already took your profit.
  • #63
  • May 28, 2010 10:23pm May 28, 2010 10:23pm
Quoting Brb-Fraudin
The EA can be extremely potent if this is done: At any level when a TP is hit , you don't close all the LOT. You lock a certain amount of profit and move SL to BE for the rest to have more run , then you can add more pips for profit or trail stop it! This way you can make more pips while you already took your profit.
Not a bad idea. The ea does have a trailing stop, but not a partial take profit and trail option. I don't know much about coding so unfortunately I am unable to do this. Maybe we can incorporate this into a manual method. Thanks and good luck.
  • #64
  • May 29, 2010 2:46am May 29, 2010 2:46am
Quoting 2+2=4ex
Not a bad idea. The ea does have a trailing stop, but not a partial take profit and trail option. I don't know much about coding so unfortunately I am unable to do this. Maybe we can incorporate this into a manual method. Thanks and good luck.
Yes not a trailing stop. You already lock the profit of the cycle and let another have a free ride by moving SL to BE. Because I think that this is a breakout strategy , once you break out of the losing channel , there are more to come than 80 pips.

Too bad we don't have programmers post here for this wonderful EA. This EA was misused by former people who started the sequence with 0.1 lot and 40/10 !! Of course they blew their accounts.

And btw 2+2 . I found that moving SL to BE after 60 pips has no meaning and can make more damage than good.
  • #65
  • May 29, 2010 10:00am May 29, 2010 10:00am
Quoting Brb-Fraudin
Yes not a trailing stop. You already lock the profit of the cycle and let another have a free ride by moving SL to BE. Because I think that this is a breakout strategy , once you break out of the losing channel , there are more to come than 80 pips.

Too bad we don't have programmers post here for this wonderful EA. This EA was misused by former people who started the sequence with 0.1 lot and 40/10 !! Of course they blew their accounts.

And btw 2+2 . I found that moving SL to BE after 60 pips has no meaning and can make more damage than good....
Yes, by doing a trail you will be getting the more out of the breakout. It is too bad we don't have a programmer to make this change. You're also right about the starting with .1 or even .01. Unless you have 100K+, you are going to be burned. Thanks for the advice on the BE moving. I really haven't tested it with and without BE, but it is interesting.
  • #66
  • May 29, 2010 10:26am May 29, 2010 10:26am
Quoting 2+2=4ex
Yes, by doing a trail you will be getting the more out of the breakout. It is too bad we don't have a programmer to make this change. You're also right about the starting with .1 or even .01. Unless you have 100K+, you are going to be burned. Thanks for the advice on the BE moving. I really haven't tested it with and without BE, but it is interesting.
I have made a research for NANO brokers. I now know 4 , instaFX , FXopen ,IBFX and Alpari UK. The first 2 brokers , no thx . I think we can distribute the money between Alpari and IBFX. I also found when I back tested 160/40 and 200/50 that there is much lower chance of progression , but the cycle may take a month or more!
  • #67
  • May 30, 2010 12:06pm May 30, 2010 12:06pm
Quoting Brb-Fraudin
I have made a research for NANO brokers. I now know 4 , instaFX , FXopen ,IBFX and Alpari UK. The first 2 brokers , no thx . I think we can distribute the money between Alpari and IBFX. I also found when I back tested 160/40 and 200/50 that there is much lower chance of progression , but the cycle may take a month or more!
Just curious, but why not FXOPEN? I am in process of setting them up now...

I can't do Alpari UK... I have heard IBFX has some of the worst spreads and you can't hedge. FXCM also has nano but I have heard they are the worst on spreads hands down...
We are our own best indicator.
  • #68
  • May 30, 2010 12:09pm May 30, 2010 12:09pm
I tested the crap out of this thing today. My conclusion...

The only pair you should be trading is EURUSD and maybe USDCAD..

a 60/60 worked pretty good, but considering the Martingale risk and the profit returned.. I think it isn't worth it...

I tried different TP's, different TF's.. Different currencies...

If you get it to a point where it won't burn up then there is very little profit.

I like the close half option, but my latest change makes it so it continues the trend anyways. Logically this thing seems like it could be profitable, but it isn't on backtesting.

Oh.. I tested it on Forex.com and IAMFX and boy what a difference! IAMFX it did terrible.........................................
We are our own best indicator.
  • #69
  • May 30, 2010 1:39pm May 30, 2010 1:39pm
FXopen has very bad reputation but its up to you. The EA can work with 160/40 or 200/50 with much fewer levels , but the trade takes at least a month! So if you have extra $ 1000 make a nano account and let it run on your VPS , it can makes 10 - $ 20 a month or so with a NANO account and forget it , maybe in a year you make 30-40 % !
  • #70
  • May 30, 2010 9:52pm May 30, 2010 9:52pm
Quoting Brb-Fraudin
FXopen has very bad reputation but its up to you. The EA can work with 160/40 or 200/50 with much fewer levels , but the trade takes at least a month! So if you have extra $ 1000 make a nano account and let it run on your VPS , it can makes 10 - $ 20 a month or so with a NANO account and forget it , maybe in a year you make 30-40 % !
Yea a month to maybe squeeze out a nano profit is not worth it, to me at least. You would also have to take a look at rollover/swap rates. I believe the best way is with a short range. 20:5. You would need to go nano if you don't have a million dollar acoount, but the trades would close much faster. That way you are making small portions, but at a quick rate. It would also eliminate the affect of potential swap payout.
  • #71
  • May 31, 2010 1:59am May 31, 2010 1:59am
Quoting 2+2=4ex
Yea a month to maybe squeeze out a nano profit is not worth it, to me at least. You would also have to take a look at rollover/swap rates. I believe the best way is with a short range. 20:5. You would need to go nano if you don't have a million dollar acoount, but the trades would close much faster. That way you are making small portions, but at a quick rate. It would also eliminate the affect of potential swap payout.
Yes I agree , but 20:5 you can have more than 20 levels or something. You have to see a good ration that closes quick and doesn't get caught in a ranging market.

5 pips SL ,your account will blow out near a support/resistance area.
  • #72
  • May 31, 2010 3:02am May 31, 2010 3:02am
I consider this type of martingale as "a Tool" not a strategy. I think you simply cant let it run like a robot with some hard fixed well backtested settings and pray for not to blow your account. IT WILL. Sooner or later.

I recomend to use this powerful tool as suggested by FXTraderPro as a part of your own strategy. For example it can be used as a tool with London breakoutbox (which I intend to do), or you can use it right after break some retrace with fibo help. are whatever...

with respect to all members of this community

Karel
  • #73
  • Last Post: Aug 27, 2013 8:46pm Aug 27, 2013 8:46pm
In trading, as in most other probabilistic phenomena, timing is an undeniable variable.

There are certain periods during the day, that since the beginning of the history of fx markets, 25+ bounces have not happened without the price at least once breaking out... The question is do you wanna switch off the EA if you don't close in profit overnight or do you let it ride into the quiet hours where a lot of back and forth action can happen...

I think this strategy is a fortune builder especially in conjunction with a tool to let the partial profits run after your TP is hit, so I would be delighted if some developer is interested to finetune this idea a bit further (with the trailing stop for partial position function already introduced above)...
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