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Phantom 6 System

  • #61
  • Nov 5, 2010 3:37pm Nov 5, 2010 3:37pm
Quoting sidhujag
Hi MC,

I been following your threads for the last little while and had a few q's and a few thoughts.

q1. Whats with the 6 pairs you chose? Anything special? Or smallest spread total?

Would it be better to make this a bit more dynamic in the way it chooses trades aswell as timing to avoid whipsaw?

We know that there's usually a breakout during LO (statistics and fundamentals tell us so). We also know that this usually lasts until end of NY/LONDON overlap

With this in mind would it be better to start at LO and reset on NY/LONDON close?...
Your stream of consciousness is not unlike that of many traders when they first see these systems.

I could give lengthy and specific responses to each of your questions and propositions, but all I'll say is -- the results speak for themselves.
Open to new approaches.
  • #62
  • Nov 5, 2010 3:56pm Nov 5, 2010 3:56pm
Quoting MetaCoder
Your stream of consciousness is not unlike that of many traders when they first see these systems.

I could give lengthy and specific responses to each of your questions and propositions, but all I'll say is -- the results speak for themselves.
Thanks,

Nice work on the EA... code is really readable. Using clean code always pays for itself 10x.

For me its easier to concentrate on the how if you know the why.

Jag
  • #63
  • Nov 5, 2010 4:16pm Nov 5, 2010 4:16pm
Quoting MetaCoder
This is technically very easy to do, of course. Such a feature is something I don't plan to put into my implementation, however others are completely free to do so as I always offer the source code for every EA.

Manual override by the account owner is always possible and my philosophy is to let the trader be the manager of such situations, whether this means taking actions manually or pursuing automated solutions of h(er/is) own or a third party's design.

I've spent far more time thinking about how to win than how to lose, hence there are better...
Understood. I respect your position on this and understand the motivation behind it.

I may well add this functionality myself for the simple reason that the time it is most likely to be doing most trading is when I am most likely to be asleep, since I am on the US West Coast.

Cheers

Invisible
  • #64
  • Nov 5, 2010 6:13pm Nov 5, 2010 6:13pm
SteveHopwoods MPTM has the Shirt protection feature, I hope this helps..

By the way thank you for perfect concept. I will try next week.
  • #65
  • Nov 5, 2010 6:18pm Nov 5, 2010 6:18pm
Quoting carolco
SteveHopwoods MPTM has the Shirt protection feature, I hope this helps..

By the way thank you for perfect concept. I will try next week.
You are right, Carolco. MPTM is very good, but it does not have the capacity to stop the original EA from trading if the max equity loss is hit. There is another bot I am trying to remember the name of which creates a global variable when the equity max loss is hit. You add some embedded code into the trading EA and this has the effect of preventing the trading EA from starting trading again after a Black Swan-type incident without the human coming along and re-setting this global variable.

Now what was it called.....? I'm sure it will come to me eventually, but if anyone remembers and can post a link that will be very useful.....
  • #66
  • Nov 5, 2010 8:41pm Nov 5, 2010 8:41pm
It's called accountsentry, and you just need to add a simple line in your ea to check if the global variable is changed when an equity breach is hit, which will cease trading until you reset it.
  • #67
  • Nov 5, 2010 9:22pm Nov 5, 2010 9:22pm
does it close all the existing trades ? or it doesnt accept any new orders ? if we are trying to close the trades, then that leaves a big hole in your account. my advice would be to arrive at a setting (MMTU, PP) that would make you comfortable even in case of big drawdowns. because eventually it comes back to profit, you need to tide over this period. back testing is the only way to know what would be the max DD for a given account type, MMTU, PP, Leverage

normally you see big drawdowns when a single pair keeps adding trades continuosuly (mostly during asia time) , then it needs a good mixture of pairs in the basket and hope for the market to move in favor of that one single pair to come out of the hole. one mod in my mind is dont add to trades of the same pair after it reaches a 'threshold' number if all the previous adds are from same pair and the combined PL of this pair is in positive. lets say you keep this number as 3. EA added GU. again added GU and again added GU. now next hour GU comes up, check if the combined PL of GU is above zero
  • #68
  • Nov 5, 2010 10:07pm Nov 5, 2010 10:07pm
Quoting MetaCoder
You have asked a frequently-asked question. See my FAQ please.
Haha! Oh yah. Sorry. Actually I read that many times already. Sometimes people may forget.
  • #69
  • Nov 5, 2010 11:54pm Nov 5, 2010 11:54pm
Quoting Pippopotamus
while EA was enabled. Turned out to be an incompatibility problem with 02a and a bar timer indy I added to chart. All is fine now. Three baskets traded flawlessly.
Hi Pippopotamus,

Would you mind to share the bar timer indy you are using? I also have incompatibility problem with MPTM and Phantom EAs. I want to see what do they have in common that causes this flickering. Thank you.
  • #70
  • Nov 6, 2010 3:24am Nov 6, 2010 3:24am
Quoting luiboy
I also have incompatibility problem with MPTM and Phantom EAs.
I 'm not sure anymore, but I believe when the MPTM is running, it deletes the global variables. Which isn't very well for the function of the Phantom.....

(but check it out for yourself, not sure)
  • #71
  • Nov 6, 2010 3:30am Nov 6, 2010 3:30am
Quoting roundrock
does it close all the existing trades ? or it doesnt accept any new orders ? if we are trying to close the trades, then that leaves a big hole in your account. my advice would be to arrive at a setting (MMTU, PP) that would make you comfortable even in case of big drawdowns. because eventually it comes back to profit, you need to tide over this period. back testing is the only way to know what would be the max DD for a given account type, MMTU, PP, Leverage

normally you see big drawdowns when a single pair keeps adding trades continuosuly (mostly...
Hello.

Maybe this mod would reduce DD significatively, because it is a problem when you have a lot of tardes of the same currency and the market moves opposite to you.

What do you think MC?
  • #72
  • Nov 6, 2010 4:12am Nov 6, 2010 4:12am
Quoting luiboy
Hi Pippopotamus,

Would you mind to share the bar timer indy you are using? I also have incompatibility problem with MPTM and Phantom EAs. I want to see what do they have in common that causes this flickering. Thank you.
http://cdn.forexfactory.com/images/attach/mq4.gifbar_close_alarm_V1.mq4
Vincit qui se vincit.
  • #73
  • Nov 6, 2010 7:13am Nov 6, 2010 7:13am
Quoting Pippopotamus
http://cdn.forexfactory.com/images/attach/mq4.gifbar_close_alarm_V1.mq4
Thanks Pippo!
  • #74
  • Nov 6, 2010 7:17am Nov 6, 2010 7:17am
We can also try taking trades on the same pair only if the distance of the new trade is above a certain value from the previous trade.

Quoting Caillou
Hello.

Maybe this mod would reduce DD significatively, because it is a problem when you have a lot of tardes of the same currency and the market moves opposite to you.

What do you think MC?
  • #75
  • Nov 6, 2010 9:01am Nov 6, 2010 9:01am
I had started something similar in a java program sometime ago (for use in Dukascopy's platform) but got involved in some other projects and didn't finish it. Anyway, I was using only four pairs, alternating long and short positions depending on which pair was going better and also depending on the long-term trend. I was using:

Buy:
EURUSD
GBPJPY

Sell:
GBPUSD
EURJPY

I can't see any difference between using these 4 pairs and 6 or more pairs, so I'm inclined to go with the simpler setup (although it already is very simple). Any thoughts ?
  • #76
  • Nov 6, 2010 3:32pm Nov 6, 2010 3:32pm
Hello, Metacoder, (or anyone who understands it)

please forgive my dumbness, i've gone thru the EA code and the thread mostly. However, seemingly, there is not a fixed stoploss rule?

Again, it may be available but i didn't understand/find it. just hope someone please enlighten me?

thanks a lot!
  • #77
  • Nov 6, 2010 3:52pm Nov 6, 2010 3:52pm
Hello, Congratulations for a very interesting system Metatrader, I am new to this aproach and will be studying all what is said in the thread, I just wanted to contribute with something, as I can't contribute wiht something else at the moment (as I am a little bit newbie lol) .
I made a Logo for this system, any recomendations/changes are welcome.I hope you guys like it.
Attached Image
  • #78
  • Nov 6, 2010 4:08pm Nov 6, 2010 4:08pm
Quoting Sequoia
Hello, Congratulations for a very interesting system Metatrader, I am new to this aproach and will be studying all what is said in the thread, I just wanted to contribute with something, as I can't contribute wiht something else at the moment (as I am a little bit newbie lol) .
I made a Logo for this system, any recomendations/changes are welcome.I hope you guys like it.
I think that's just pretty cool. It's obvious that MC has put a lot of work into these EA's and deserves a round of applause (and a logo).



Great fortune to all !!
  • #79
  • Nov 7, 2010 2:59am Nov 7, 2010 2:59am
Nice logo!

For the ones searching for a hard stop loss or a close all function take a look at this mod. It closes all the trades when the "open loss to close trades" amount is hit or passed.
It also resets the phantom trades and the dollar profit target. So it starts completely fresh!
(The only thing it doesn't change is the last flat balance but that doens't matter for the functionality of the EA. And the account cutoff limit is displayed with a lot of zeros after the point. A -200 open loss to close trades is displayed as -200.00000)

It works, so those who think this is needed or feel safer while using a hard stop loss, download this version. But like Metacoder said many times before: it isn't really needed. The addsix versions are completely hedged. If you notice to much dd, change your Maxmargintouse!

Thanks MC for the hard work! I only kinda copy pasted the stoploss function from CloseTrades_After_Account_Loss_TooMuch.mq4 from Tradinator and put the reset phantom and $profit into it. A thank you to him also for that EA. But it was fun to do and now I understand the Phantom Add_six02A even better.
Attached File(s)
File Type: mq4 Phantom_AddSix_02a (close).mq4   50 KB | 473 downloads
  • #80
  • Nov 7, 2010 3:34pm Nov 7, 2010 3:34pm
Quoting Sequoia
Hello, Congratulations for a very interesting system Metatrader, I am new to this aproach and will be studying all what is said in the thread, I just wanted to contribute with something, as I can't contribute wiht something else at the moment (as I am a little bit newbie lol) .
I made a Logo for this system, any recomendations/changes are welcome.I hope you guys like it.
Very cool logo.
Open to new approaches.
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