Trading the Sixths with Snowballs

This EA is inspired by "The Beast" and letting the "Snowball EA" to manage
the trades.

You should know how The Beast enters the trades and how the Snowball
manages the trades:
The Beast: http://www.forexfactory.com/showthread.php?t=263253
Snowball: http://www.forexfactory.com/showthread.php?t=239717

Snowball EA is basically a trade manager. I copied the sixths codes from the
beast to make the snowball EA to become an automatic trading robot. Run a
back test to understand the EA better. It's not needed but for your visual pleasure, you can attach
SIXTHS Floating SQ.mq4 indicator. The barcount should match.

INSTRUCTIONS:
- Save sixthsnowball.mq4 in the experts folder
- Save common_functions.mqh and offline_charts.mqh in the experts/include folder


OOTB is for H4 chart as per Nanningbob's V5.

Set barcount to zero and attached to H1 chart for the beast way of trade entry. (But no secondary trades yet)

Don't forget to set StopSixths to false.

The small green lines that you see on your charts are the break even lines. If you set the auto tp to 2, it means it will close the trades 2 levels above/below BE.

This is a new EA so no results yet. But I believe that this is virtually 99.99% profitable. But please don't believe me until you try it. Lol!

Enjoy!

PS: I'm not a coder. I only know how to copy and paste. Please ask someone else for improvements and bugs fixing. Thank you!

UPDATE:
06-Jan-11: The sixths itself is good but I am adding TMA to the strategy to minimize drawdown. But I do not know how to automate it so I would just set StopSixths to true until an alert popped out from TMA. I'm trying to set a limit of 5 sixthsnowball EAs trading at the same time. Running too many will make the platform hang. I hope someone can help us to incorporate TMA to the sixthsnowball. It's basically sell high and buy low. Sell when the price is near TMA upper band and upper sixths line. Buy when the price is near TMA lower band and lower sixths line.

Stop distance calculation: http://www.forexfactory.com/showpost...4&postcount=24

Took a look at the snowball. Swap fees are going to kill your profits IMO.

Don't be freaked out if your balance is slowly diminishing but it's worth the wait and the return will be great. To give you an idea, the equity curve when running this EA would look like this:

Hi

May I know this EA is based on which Beast version? The beta version is actually the one codenamed AEB

I am downloading to my demo which is currently being tortured by EAs running martingale strategy

Stay Tune
Ian

It's based on the original beast.

I have traded the snowball live for 6mths my observations are dependent on how many levels and the spacing you choose (i have it set at 5 levels of 30pips) you can be in a trade for a very long time 9 weeks in one case which i ended up clossing manually - so the drawdown can be large if in ranging mkt even on 0.01 lot sizes i have run up accumulated losses of 187 (at 2.66 per 30 pip s/l thats 70 times it hit s/l.

I am not popoing the idea on the contry i have thought about it myself. The profits when it trends back in your favour work but you need very deep pockets and paitence and alot of nerve. It works best if there is big drops as the retrace drops with it but if it ranges in a band say 100 pips it keeps eating away. I am not sure this is right for nb5 and may be more suited to trending systems but lets demo and see

Here's my demo running for 3 days in 17 pairs.

The highest equity so far is 51,500. I can just pull the plug to close everything and start over, but I want to leave this demo untouched.

This demo is quite aggressive. 50K standard account, 0.1 lot across 17 pairs. I think a reasonable one should be 10 pairs only. The safest would be 5 pairs at a time.

Hello
I like the idea a LOT

problem is that, for me, backtesting does not work. I got "divide by zero" errors :-(

can you check it please?

anyway i will start a forward testing asap

will keep this updated

regards

I also having the same error when I backtest it using my laptop. But no problem in my desktop which is 24/5 running. Could it be the price history?

i readed around and seems to be related with the indicator....
we need a programmer here...

regards

Yes, it's true that this can be boring if you run it in 1 pair. But in 4 days of demoing this EA, I observed that this is better be traded across many currency pairs. Losses from losing pairs can just be compensated by winning pairs. And 1, 2 or 3 losing pairs won't hurt the entire account. Anyway, it's still early to party but I'm getting amazing results this week. Let's see for the next several weeks.

I think this is true if it is traded in a single pair only. But so far in my demo running multi currency pair, the swaps are too small compared to the profits generated. We shall see in the long run. I'm also interested to know other weaknesses of this robot. After a few weeks, I'm going to list down the strengths and weaknesses of this robot. It's good to know.

tried to load ea - put ea in experts, indicator in indicator and off charts and other both in experts/include folder i have ran snowball before so not sure why ea is not showing on chart??

compiled it seems to work fine now

Good

Okay, here's this week's result. The encircled in red is when I closed everything and start-over.

EURAUD is the big loser. I'm going to change the stop_distance from 20 to 30 pips for this particular pair. Let's see if this pair will improve or not.

This is a boring week for sixths snowball.

Dont worry man

from quite time to now, I am sure this philosophy is the way to go. A good snow ball takes time to come, but man, when it comes, it is unstoppable. I have it running on 6 pairs, the so called group of six, a virtual balanced basket. This week was exciting... i started with 3000 on my account, 0.02 lots.
first week ended with 2900, this week reached 3180, but this last two days fell and i will close around 2850.

I still on the same thinking. this is promising... shame of backtesting posibilities.

one question. How the profits are closed as soon as one big ball starts to grow?

thank you

regards