Sixths trading - an EA by macman, Bob and Steve
- #542
- Oct 27, 2010 2:35pm Oct 27, 2010 2:35pm
heh GBpCFH is also killing my profit as well. lucky i am demo 
at this weekend i am going to check what i can do best for the hedging options. for me it also started hedging and going completely bad for the moment.
i think it is better to tighten the hedging around 48 pips. 300 pips or 400 pips is way to high. specially since Ea takes also low profits on standard setting as well.
so basicly you can run a nice profit for a while, but if you start hedging around 300 or 400 pips. and have like 3 or 4 bad ones. it will nuke your whole profit.
or.... we could at tuesday go for trendtrading instead of trying to reverse countertrend trading as bot does now.
decisions, decisions, decisions
at this weekend i am going to check what i can do best for the hedging options. for me it also started hedging and going completely bad for the moment.
i think it is better to tighten the hedging around 48 pips. 300 pips or 400 pips is way to high. specially since Ea takes also low profits on standard setting as well.
so basicly you can run a nice profit for a while, but if you start hedging around 300 or 400 pips. and have like 3 or 4 bad ones. it will nuke your whole profit.
or.... we could at tuesday go for trendtrading instead of trying to reverse countertrend trading as bot does now.
decisions, decisions, decisions
- #544
- Oct 27, 2010 5:22pm Oct 27, 2010 5:22pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Steve, Mac for the past week I have been trying to break the damn thing before I use it on a live account, some minor hickups .... so far..no luck .....
Job Well Done Guys.
Keep on trying, though.
- #545
- Edited 5:29pm Oct 27, 2010 5:28pm | Edited 5:29pm
Hehe. You think macman would not already have broken it were it breakable? I am sure he is still trying very hard.
Keep on trying, though.
- #546
- Oct 27, 2010 5:29pm Oct 27, 2010 5:29pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Hi Steve,
I have noticed that OrderClose function in CheckForHiddenStopLossHit function has hard-coded slippage of 5. Being part of reusable code, I thought it might be good idea to fix it.
I have copied your code from init() to adjust it for 5-digit criminals (attached).
Kind Regards
What I have done is bump the slippage allowance up to 5000. This will show up the next time I update the bot in post 1.
Thanks very much.
Cheers
- #547
- Oct 27, 2010 5:36pm Oct 27, 2010 5:36pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
Well eventually The Beast did open a hedge trade but at -330 pips not the -300 that I set in the parameters, it added 30 pips from somewhere, BE pips? jumping stop pips? I don't know.
Anyway as soon as the hedge trade opened Sods Law came into play and GBPCHF started to retrace which meant that the (double lot) hedge trade was going bad at twice the rate at which the original trade was coming good, so I baled manually from the hedge. As I type it looks as if GBPCHF is going to ruin my first week of live trading with TB.http://cdn.forexfactory.com/images/icons/icon9.gif...
I will add a D1 Rsi trend notification to the screen feedback.
- #549
- Oct 27, 2010 5:55pm Oct 27, 2010 5:55pm
- | Commercial User | Joined Apr 2007 | 8,331 Posts
I am not impressed by some of the stuff I am reading here tonight guys.
I see people whinging about dd on gbpchf as though pairs are never supposed to behave against the trading system. Ludicrous.
I read postings about hedging by people clearly clueless about how it works even though it is described in the user guide. I don't know how FX Dragon feels about this, but it drives me nuts.
The dafter posters in this thread need to reflect on this. Just because I have allowed you in does not mean I have to continue to allow you to post.
So, if you have nothing intelligent to say, then say nothing. This way, the rest of us may continue to think you are intelligent.
Or, at least, not conclude you are a total idiot.
I see people whinging about dd on gbpchf as though pairs are never supposed to behave against the trading system. Ludicrous.
I read postings about hedging by people clearly clueless about how it works even though it is described in the user guide. I don't know how FX Dragon feels about this, but it drives me nuts.
The dafter posters in this thread need to reflect on this. Just because I have allowed you in does not mean I have to continue to allow you to post.
So, if you have nothing intelligent to say, then say nothing. This way, the rest of us may continue to think you are intelligent.
Or, at least, not conclude you are a total idiot.
- #552
- Oct 27, 2010 10:47pm Oct 27, 2010 10:47pm
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
Absolute the easiest and legit way 
For everyone else complaining about the DD, I've been manually closing trades every 24 hours or w/ a stop loss of 100 pips. Whichever comes first. Takes a few losses here and there but enough winnerse to more than make up for it.
OK, so I finally got caught up with you all on this thread
The Beast has turned into an impressive trading machine, but just as I reach the end of the thread, I read about peoples problems with draw down. What I have learned through endless testing of the NB bot is that bad trades happen when attempting to go counter-trend.
Running back tests is one thing, but if you run tests over the same time period on the same pair, you already know the outcome. Your test may go into massive drawdown, but you don't worry because you know already that it will come back and get you out at break even.
Unfortunately, this has lulled you into a false sense of security because if you were live, you wouldn't tolerate this level of DD and you know that the price may never come back to you. What do you do then?
The point of this post is to just say one thing:
HAVE AN ESCAPE PLAN BEFORE YOU SWICH ON THE ROBOT.
Anyone familiar with Bobs NB recovery will know that Bob is not entirely dependant on the recovery alone. If a trade goes bad, and all his recovery 'lives' are used up, he will then start to close trades at a loss, earliest first, which will then allow another recovery trade and increase the chances of the remaining trades to reach break even.
Don't be afraid to take losses. No system can protect to from them. Simply know in advance when you will take them in order to keep them to a minimum and allow you to sleep at night.
As an example, a EURGBP trade blew up on me this week. My first 2 trades were the wrong side of a big move. The recovery trades had no chance of reaching BE anytime soon. My solution was to cut the bad trades loose and let recovery bring my remaining trades to BE. I took a 15% loss, but as the account was up around 300% (Demo only), I was happy to do it.
I don't mean to preach to the wise, of whom there are many, but I was surprised to have reached the end of the thread and found no discussion of how to handle the really bad rogue trades. Don't rely on the bot completly. If you have a plan, you can execute it without emotion and any event will then fall within your system, rather than being outside it's control.
Cheers, Beastie.
The Beast has turned into an impressive trading machine, but just as I reach the end of the thread, I read about peoples problems with draw down. What I have learned through endless testing of the NB bot is that bad trades happen when attempting to go counter-trend.
Running back tests is one thing, but if you run tests over the same time period on the same pair, you already know the outcome. Your test may go into massive drawdown, but you don't worry because you know already that it will come back and get you out at break even.
Unfortunately, this has lulled you into a false sense of security because if you were live, you wouldn't tolerate this level of DD and you know that the price may never come back to you. What do you do then?
The point of this post is to just say one thing:
HAVE AN ESCAPE PLAN BEFORE YOU SWICH ON THE ROBOT.
Anyone familiar with Bobs NB recovery will know that Bob is not entirely dependant on the recovery alone. If a trade goes bad, and all his recovery 'lives' are used up, he will then start to close trades at a loss, earliest first, which will then allow another recovery trade and increase the chances of the remaining trades to reach break even.
Don't be afraid to take losses. No system can protect to from them. Simply know in advance when you will take them in order to keep them to a minimum and allow you to sleep at night.
As an example, a EURGBP trade blew up on me this week. My first 2 trades were the wrong side of a big move. The recovery trades had no chance of reaching BE anytime soon. My solution was to cut the bad trades loose and let recovery bring my remaining trades to BE. I took a 15% loss, but as the account was up around 300% (Demo only), I was happy to do it.
I don't mean to preach to the wise, of whom there are many, but I was surprised to have reached the end of the thread and found no discussion of how to handle the really bad rogue trades. Don't rely on the bot completly. If you have a plan, you can execute it without emotion and any event will then fall within your system, rather than being outside it's control.
Cheers, Beastie.
Hedging will not kick in unless the D1 Rsi defines the market as trending in the direction of the hedge trade, so add the multi tf Rsi to your charts for now.
I will add a D1 Rsi trend notification to the screen feedback.
- #555
- Oct 28, 2010 6:22am Oct 28, 2010 6:22am
OK, so I finally got caught up with you all on this thread
I don't mean to preach to the wise, of whom there are many, but I was surprised to have reached the end of the thread and found no discussion of how to handle the really bad rogue trades. Don't rely on the bot completly. If you have a plan, you can execute it without emotion and any event will then fall within your system, rather than being outside it's control.
Cheers, Beastie.
Macman says it's unbreakable and Steve has had the confidence to code this EA, in accordance with Macman's methodology. Until evidence to the contrary, I will continue to run it by the book without any subjective decisions on my part.
- #557
- Oct 28, 2010 6:55am Oct 28, 2010 6:55am
- Joined Oct 2007 | Status: Summer is the best time of year! | 1,284 Posts
Hi Squalou,
I like the concept of a glance to see what's happening and have a suggestion for your indicator....you need to flip it and give a visual of where price is in relation to the sixth....and then give some further information about how many lots are on, pip counts, etc....something like this...
I'd leave the symbol, pip counts, etc in the comment style font, thereby allowing quite a large number of symbols on a single chart...and a small rectangle for price...kinda like the paddle on pong.
In case you do not remember pong...here it is...
For me, the only useful alert here is when price it getting close to TP....you may want to extend the TP values...so a clever alert regarding that would be helpful. Say, when 10 pips from TP.
Cheers
CanuckCT
I like the concept of a glance to see what's happening and have a suggestion for your indicator....you need to flip it and give a visual of where price is in relation to the sixth....and then give some further information about how many lots are on, pip counts, etc....something like this...
I'd leave the symbol, pip counts, etc in the comment style font, thereby allowing quite a large number of symbols on a single chart...and a small rectangle for price...kinda like the paddle on pong.
In case you do not remember pong...here it is...
Inserted Video
For me, the only useful alert here is when price it getting close to TP....you may want to extend the TP values...so a clever alert regarding that would be helpful. Say, when 10 pips from TP.
Cheers
CanuckCT
Hi,
attached is a simple multi-pair "SIXTHS dashboard" indi.
It shows where each pair in the list are compared to their SIXTHS Lines.
It shows a "cursor" that helps you locate where price is in the Sixths range: left side means bottom, right side means top, of the Sixths range.
The color of the line tells you in which "Sixths zone"it is:
[color=RoyalBlue]- blue means it is beyond the Gold Lines -- not yet entered in the Sixths trading zone; or it is TRENDING!
[color=Orange]- Gold means it is now inside the Gold zone, but has not yet reached...
