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Attachments: Sixths trading - an EA by macman, Bob and Steve mk 2
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Sixths trading - an EA by macman, Bob and Steve mk 2

Steve, I think the last two experimental updates are a stroke of genius, I've run them since you've put them up and it goes a long way to reducing the drawdown.

Thank You.

(back to the closet)
Steve and Mac,
I'm sticking with the original Beast for now. I'm getting used to my DD floating between 2-4%. I'm manually adding a level 2 (same .05 lot size as L1) to any trade that goes 200 pips against me. I've only added a couple L3 trades over the last month but I'm waiting for 4HR or daily RSI(8) divergence to add any L3 trades. My L3 trades are .08 lots. I only look for BE or small gain on any trades going to L2 or L3. So trading live for the last month has produced $1221. Something I've been looking at to keep me out of early entry (on L1) is not turning EA on until price is above gold line and I see RSI(8) divergence on the 1HR chart.
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Quoting Toothman
Steve and Mac,
I'm sticking with the original Beast for now. I'm getting used to my DD floating between 2-4%...
I have left my beast to its own devices for the last 5 weeks. It is doing ok but not great. First week of November was a bad week for it. I am not going to change to modified versions till the time we have better idea of its performance.

Kind regards
Attached File(s)
File Type: xls beast five weeks.xls   53 KB | 326 downloads
I have been looking at ways of culling potential trades that dont show the momentum needed for a reversal.

A good method i have recently adopted are the use of bollanger bands. If you put them on your chart and play with the settings, look for candles that open AND close above or below the BB's. If they are within 'x' pips of the magenta lines (standard entry) then it is a valid entry. I have found that even with some trades that are entered and do continue against you there is still enough of a reversal movement to incorporate a decent BE setting.

It shows high momentum looking for a reversal (even better if its a doji above/below the lines). The point of this EA is to trade reversals and avoid a trend. Obviously it's impossible to 100% predict that but with this method it certainly does help.

Try it.... and maybe if you all agree we can add the bands as filtering.

Also, have you guys considered a trailing equity stop? As you enter more trades waiting for a reversal you are slowly averaging down getting ready for that move. When that move does happen you have set yourself up for 'potential' good profits. Currently, this EA is set for BE once more than one level is open limiting the profit potential of your accumulated postions. With an equity trailing stop you can completely capitalise on your open positions.

Food for thought.... hope this all makes sense.

Cheers
Luck is where preparation meets opportunity.......
Quoting SteveHopwood
I trust mac's judgement; his is one of the brightest minds at FF. If he decides that rwb will help then I shall add it, otherwise I am leaving it out.


That's fair enough mate!! But I do hope Mac can suggest an addition here. I am a massive fan of the system so definately want to help in its evolution.

I think NanningBob's V5 failed because orders were placed willy nilly when conditions were met. A improvement here is that STOPS to enter are placed AT the six's line (gold lines for me). The problem we have noticed is that usually the market retraces to these gold lines, hits our order and then continues on its way in the opposite direction. The solution, IMHO is to add some other indicator which confirms short term change in direction.

This system defintely has legs. Just need to give it some shoes and teach it to walk.
Quoting Toothman
Steve and Mac,
Something I've been looking at to keep me out of early entry (on L1) is not turning EA on until price is above gold line and I see RSI(8) divergence on the 1HR chart.

I've been doing the same thing over the past few days - ONLY switching the EA on for those pairs where the price is above the old line AND RWB are where they should be. Nanning bob prefers TMA, so I'll be testing it with that next week.


I am sure we are edging closer to cracking this.
Quoting azjeff
Hello Steve,

You are by far one of the best givers on FF. FF has a lot of people indicating this system is profitable and that system is profitable but most people never back it up with proof. Such as, a trading statement. I would like to make one suggestion. Do not code anything until someone backs up their claim with proof that their system or idea is profitable.

Regards,
Jeff
This sounds like A Plan to me Jeff. Thanks for your sound advice.

Quoting sundog
Steve, I think the last two experimental updates are a stroke of genius, I've run them since you've put them up and it goes a long way to reducing the drawdown.

Thank You.

(back to the closet)
The coming month is one that Bob has found difficult to trade using sixths, so it will be interesting to see how they fare.

I have my latest experimental version on demo and it has made an excellent start. Fewer trades, but far less dd to compensate and a good profit so far. The code needs a bit of tidying up yet so it is not quite ready for live trading, but looking good.

Quoting Viv108
I've been doing the same thing over the past few days - ONLY switching the EA on for those pairs where the price is above the old line AND RWB are where they should be. Nanning bob prefers TMA, so I'll be testing it with that next week.
This also sounds like A Plan. Up-an-at-em, Tiger.

Quoting Ozzie Taz
I have been looking at ways of culling potential trades that dont show the momentum needed for a reversal.


It shows high momentum looking for a reversal (even better if its a doji above/below the lines). The point of this EA is to trade reversals and avoid a trend. Obviously it's impossible to 100% predict that but with this method it certainly does help.
The only way for certain to reduce DD from manually trading is to to analyze the candles themselves. As in looking for indecision candles or reversal candles after a decently strong trend. I used to trade 4H where if the previous 4 candles were all in the same direction (all bull or all bear) followed by an indecision candle (where the sticks were longer than the body) then I would set the stop below/above that.

I know I did a real crappy job explaining the above but if there's any interest in price action analyzes then I'll go into detail. The issue is that it'll probably be a PITA to code.
What a beautiful recovery of EURNZD and NZDJPY...
That went too fast to even enjoy it...

Great stuff!
"The only successful substitute for brains is silence."
Quoting DXTrade
What a beautiful recovery of EURNZD and NZDJPY...
That went too fast to even enjoy it...

Great stuff!
Pleasant when it happens so quickly.

Good Morning Steve,
I thought I'd post something before work this morning....This is Beast Ex. but could be anyone of 3 Beasts (Atr Hedge, Ex, and Scoobs) All good...
One problem....Someone needs to come by the house and show me how to run the original Beast...It took another margin call on me last week and I hit the close all button....Anyway 3 are really good...

Have a great day

whip
Attached File(s)
File Type: pdf Statement_ 1206012 - Hiredwhip.pdf   80 KB | 468 downloads
Quoting hiredwhip
Good Morning Steve,
I thought I'd post something before work this morning....This is Beast Ex. but could be anyone of 3 Beasts (Atr Hedge, Ex, and Scoobs) All good...
One problem....Someone needs to come by the house and show me how to run the original Beast...It took another margin call on me last week and I hit the close all button....Anyway 3 are really good...

Have a great day

whip
Hi Mr Whip

As you know I have the beast on very conservative setting of only trading the top and bottom sixth only (5 pairs with macman bar counts). My beast went live on the 8th of October (trading 10 cent lots only) and thus far it has produced $101 profits with DD of $33. I think the highest DD to date has been around $60. I know the profit is about $10 per week and that is too little for some people. However, my number 1 concern is the DD and not the profit. If it carries on the same way I am more than satisfied.

Kind Regards
P.S. Macman has been very quiet recently, it would be nice to have his opinion.
Hi guys

I also believe this EA has the longest legs of the EAs I am testing. My concern is also the DD - so I am pushing for an additional indicator, either the RWB or the latest thing nanningbob is using, the TMA. This is producing some decent results for the manual traders.

This is macman's thread and it would be nice to hear from the man himself, as its his right to decide what he wants to do with his own EA - although he has done a great job with suggesting the principle idea to steve-o.

As general Zod (in superman 2): Macman - who is this Mac Man. Where are you, Macman - come and show yourself. Kneel before ZOD!



(I'm being cheeky by the way, before I get a barrage of messages telling me I am rude).
Quoting astral77
Hi Mr Whip

As you know I have the beast on very conservative setting of only trading the top and bottom sixth only (5 pairs with macman bar counts). My beast went live on the 8th of October (trading 10 cent lots only) and thus far it has produced $101 profits with DD of $33. I think the highest DD to date has been around $60. I know the profit is about $10 per week and that is too little for some people. However, my number 1 concern is the DD and not the profit. If it carries on the same way I am more than satisfied.

Kind Regards
P.S. Macman...
Astral.......When can you come by the house???

whip
Quoting Viv108
Hi guys

I also believe this EA has the longest legs of the EAs I am testing. My concern is also the DD - so I am pushing for an additional indicator, either the RWB or the latest thing nanningbob is using, the TMA. This is producing some decent results for the manual traders.

This is macman's thread and it would be nice to hear from the man himself, as its his right to decide what he wants to do with his own EA - although he has done a great job with suggesting the principle idea to steve-o.

As general Zod (in superman 2): Macman - who is...
Please exactly which EA are you refering to there are about 3 on this thread

Thanks
Just a heads up. This EA may close down an open trade if you change TF on that chart. I clicked off the Expert Advisor button(thinking that would keep anything from happening) to flip from 1HR to 4HR on the EUR/JPY today on my IBFX platform and when I clicked it back on it closed my open trade . Don't know if it was the EA, MT4 or IBFX that went haywire.
Quoting dryclean
Please exactly which EA are you refering to there are about 3 on this thread

Thanks
i am only trading the original.

Anyone else want to share how the other variations are getting on?
Quoting Viv108
i am only trading the original.

Anyone else want to share how the other variations are getting on?
I'd like to see an Original Beast Statement......Please......I'm getting tired of reading my own statements
whip
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