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A Simple London Breakout V.2

  • #1,021
  • Jan 5, 2011 12:44am Jan 5, 2011 12:44am
Just to give you guy a little visual display on a few charts to show the new changes and how they've done on Monday and Tuesdays trading so far. Just to let you know that I'm showing 9 pairs and not one pair is not having a losing week so far.
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  • #1,022
  • Jan 5, 2011 12:45am Jan 5, 2011 12:45am
a few more
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  • #1,023
  • Jan 5, 2011 12:45am Jan 5, 2011 12:45am
a few more again
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  • #1,024
  • Jan 5, 2011 12:46am Jan 5, 2011 12:46am
the final 3
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  • #1,025
  • Edited 9:28am Jan 5, 2011 9:23am | Edited 9:28am
Congrats Mer... Nice rides...
But for me it is too much : 5 trades + matinguale !!!!!
a/ My mono-neuronal brain will explode
b/ My heart too...
But always learning...

As I said yesterday we have good days and... bad days...
To day is a bad day !
But slowly recovering now (Btw stil in profit Hi! Hi !)

2 things : I have 3 demo account running with LBO the 2 versions
(to garbagge : Blessing, IndoRun, FMT, The Beast, Money Maker...)
* On one account Alpari this morning on EURCHF PA retrace and LBOV6 didn't close at SL In experts : Invalid price, err 129
Suggestion : when EA is to close a SL try 5 attemps at least to be sure to close the trade...
* On FXDD this morning 3TierLBO didn't put pending order on E/U= no trade (grrrr it was nice one!)
In experts : seems all ok and EA initialized
Suggestion : automatic "refresh" of EA every X hours : suppression pending orders, reinitialization EA and new pending order.
My 2 c
Bert
Si les cons volaient, il ferait toujours nuit...
  • #1,026
  • Jan 5, 2011 1:17pm Jan 5, 2011 1:17pm
Another day of profit...
Well not on all accounts
The EURCHF miss a -32 pips SL (cf previous post) and I closed it manually at -141 pips (32 pips box + 109) at the end of session...
(I left it intentionally to see where...)

As was saying Warren B. : "cut loss, cut loss, cut loss...'

Tomorrow is another day in the beautiful hell of Fx...
See you
Si les cons volaient, il ferait toujours nuit...
  • #1,027
  • Jan 5, 2011 3:25pm Jan 5, 2011 3:25pm
Quoting Bert505
(to garbagge : Blessing,
Bert
Bert,

Blessing should not go to "garbage". Eventually you will come to realize its hard to properly set as you have to understand every aspect of its 3000 permutation possibilities, or eventually you may slightly modify the MM but in the end you will come to realize it`s an excellent and profitable EA pertaining you are not trying to achieve 100% monthly ROI.

X.
  • #1,028
  • Jan 5, 2011 4:22pm Jan 5, 2011 4:22pm
With the new changes what account size would you require to trade up to the .89 level using a 1:500 leverage acct trading .01 lots, if you decide to stick to one or two pairs
Quoting mer071898
You set you start and End times in the indicator's parameters and the indicator will draw the boxes and levels for you. I hope that's what you're asking.

The max I've visually seen, before these last changes, was 1597 twice going back a full year (can't remember which pair it was though). With the new changes, I've not seen anything past 89 yet, but I'm still doing a lot of calculating at the moment.
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #1,029
  • Jan 5, 2011 4:37pm Jan 5, 2011 4:37pm
Quoting xmph
Bert,

Blessing should not go to "garbage". Eventually you will come to realize its hard to properly set as you have to understand every aspect of its 3000 permutation possibilities, or eventually you may slightly modify the MM but in the end you will come to realize it`s an excellent and profitable EA pertaining you are not trying to achieve 100% monthly ROI.

X.
3000 permutations possibilities... Huuuuummmm
Well ...good for you the next 5 years...
(testing 10 permutations a week = 300 weeks/52 weeks = 5 and half years)
As I posted before about the picts of Mer, i have only a mono-neuronal brain 3000 permutation is REALLY too much for me...
With no offense
Bert
PS IndoRun is also VERY interesting. Have you test it ?
Si les cons volaient, il ferait toujours nuit...
  • #1,030
  • Jan 5, 2011 4:48pm Jan 5, 2011 4:48pm
[quote=mer071898;4282606]Best thing to do is manually go back through the charts and see for yourself. I don't know of anyone using the EA live as of yet due to the large account size you'd need for safety. I did a quick visual backtest on Eur/Usd for the month of December 2010 and it would've made roughly 25,000+ pips (not including any spreads) and the highest multiplier I hit was 89 (.89 lots per trade if using .01 lots as your starting lot size).

Well tried to use it on my live EA test Acct but was getting a zero divide error.(Maybe because they use the old 4 digit price). My little experience tells me that it works best on gbp crosses (eur crosses did not survive).Have run them on (gbp crosses) demo for 3 months. I set it to max 3 losses for the day, start time is one hour earlier to what you have, and session end London close(figured if price does not move during london or US open then probabiilty at other times is slim).
LISTEN TO MR FUNDAMENTAL AND MR TECHNICAL
  • #1,031
  • Jan 5, 2011 4:57pm Jan 5, 2011 4:57pm
Another option would be to only trade 1 trade instead of 5. Going thru the results that mer just posted for this week, you'd actually end up with more pips in most cases, just getting tp1 and out with 1 trade.
Still have to do the crazy multiplier, but you sure could afford to do it with 1 trade alot easier than with 5 trades
  • #1,032
  • Jan 5, 2011 9:51pm Jan 5, 2011 9:51pm
Quoting tazmaan
Still have to do the crazy multiplier, but you sure could afford to do it with 1 trade alot easier than with 5 trades
Taz, I kinda disagree considering what makes the whole strategy working is the punctual TP2/TP3 hit when you are at a multiplier of 4x, 5x

This is confirmed by the poor Win/Loose Ratio of the strategy, BUT the high Profits in the end.

I will investigate Mer's new suggestion and will report if anyone is interested.

Quoting Bert505
3000 permutations possibilities... Huuuuummmm
Well ...good for you the next 5 years...
eventually, you may leverage the multitask/multithreaded brain of your new 64bits desktop ... and alter a little bit the Blessing code to allow such optimization ... and realise you need only one week ;-)

X.
  • #1,033
  • Jan 5, 2011 10:09pm Jan 5, 2011 10:09pm
Yeah, I am not sure about the long term benefits of just doing 1 trade instead of 5. I do know that even if I had enough funds to trade this with 5 trades x 89 martingale sequence and take another stoploss, I'm not sure I'd want to
  • #1,034
  • Edited 1:50pm Jan 6, 2011 2:07am | Edited 1:50pm
Quote
With the new changes what account size would you require to trade up to the .89 level using a 1:500 leverage acct trading .01 lots, if you decide to stick to one or two pairs
First off, I said I've only seen up to a multiplier of 89 so far in the few charts I've visually tested, but that's not to say it won't go farther up than that. I did a complete visual test from Jan. 1st 2010 to Dec. 31st 2010 on Eur/Usd and I did hit 610 a couple of times and 233 over a half a dozen times. But as we all know the Eur/Usd is always reliable and never consolidates for very long and is a very predictable pair.

Now for example, if you do 5 trades and if you get stopped out at 89, you'll have 7.2 total lots on the table just going to 89, that would then turn into 18.85 lots going to 233, 49.35 lots going to 610, etc... I personally recommend no less than $10K for every 1 lot you trade, but with the leverage you are trading at it would obviously be less, but more risky if not properly funded (not to say that it is not already). And it also depends on what your broker's margin requirements are as well.

You could always run it on a mini account as well. IBFX for example, you can deposit any amount you want in a mini account and trade up to 50 lots per trade I believe. I actually calculated the whole year and the pair would have produced, and I'm not exaggerating this, over 452,000+ pips for the year. Now this on a demo and is not taking into account spreads, gaps in history, or slippage and re-quotes if you were on a live account, etc.. Now on a standard account where .01 lots = .10 a pip, you would have made over $45K+ just on this pair or $4,500+ on a mini account. What would it take to safely trade this? I don't know, but I know even if you used a $200k account you would have made over 22% on you money and any serious trader knows that that is an exceptional annual return by any standards.

Quote
Well tried to use it on my live EA test Acct but was getting a zero divide error.(Maybe because they use the old 4 digit price). My little experience tells me that it works best on gbp crosses (eur crosses did not survive).Have run them on (gbp crosses) demo for 3 months. I set it to max 3 losses for the day, start time is one hour earlier to what you have, and session end London close(figured if price does not move during london or US open then probabiilty at other times is slim).
I always suggest testing out different variables to fit how you want to trade. Gbp crosses would benefit more from the London activity, but try not to limit your alternatives. Because price does not move much outside the big boys sessions is why I suggested to close all the trades at the "SessionEndTime" to prevent being on the wrong side of the movement after the Asian session starts. Sometimes it would work in you favor and sometimes not, that's part of the game and I'm not that greedy.

Quote
Taz, I kinda disagree considering what makes the whole strategy working is the punctual TP2/TP3 hit when you are at a multiplier of 4x, 5x
xmph hit it right on the head. Yes, you can just trade one trade, but to get the recuperative benefit of the strategy, you must trade more than 1 trade at a time. If you have several losses in a row and you suddenly hit a Target 2, you are guaranteed to recoup all the previous losses. Even at a Target 1 and the remaining trades stay enough above BE +1, you could still possibly recoup the losses too. I do sports betting during baseball season and I incorporate a similar sequence when betting there as well. I have an interesting PDF that was sent to me regarding Money Management for sports betting that also reiterates the benefit of martingale strategies, and it works!

Quote
Yeah, I am not sure about the long term benefits of just doing 1 trade instead of 5. I do know that even if I had enough funds to trade this with 5 trades x 89 martingale sequence and take another stoploss, I'm not sure I'd want to
Yep, and that is why I advised everyone at the beginning about the risk and the account sizes needed for this strategy to work.
  • #1,035
  • Jan 6, 2011 6:23am Jan 6, 2011 6:23am
Mer,
thx for your great strategy! I have briefly tested with GBP/USD from March 08 to Dec 10 (start time 04AM - end time 10AM GMT), with only one TP1 of 60 pips, max 4x multiplier and have only seen 3 losses, probably 6x would've been enough to have 100% profitability. Other pairs were not that good. Even that, the amount of pips would be maybe not more than 6000/yr but some form of MM in addition to martingale I think can be applied (like a loose form of fixed ratio or increase big once right after a loss). This way one can start playing lots. I wonder if an indicator can help us (maybe Magictrend). Adding a 5 pips band could've helped too. One can also try to manage manually the trade once a 4x or bigger trade occur, using a tight SL...
r u ready?
  • #1,036
  • Jan 6, 2011 1:47pm Jan 6, 2011 1:47pm
Hi, I am a newbie and when i put the ea on a chart it says the robot has been suspended, please verify obj prefix, what value do I put in here? Is there a thread with all the best settings on.

Cheers Ade
  • #1,037
  • Edited 2:57pm Jan 6, 2011 2:55pm | Edited 2:57pm
Hi all been using the EA version on my live micro account so far with good results. I have not been using the martingale option I see about 3 different fields for this as mentioned in the manual which function enables just the basic martingale? also I am using the original post 18 EA v1.0 is this ok still? have not had any issues with it other than it not closing trades 1 2 or 3 automatically stop just moves to target levels and BE when target 1 is hit. any feedback on my questions would be appreciated.

Thanks!
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  • #1,038
  • Jan 6, 2011 5:03pm Jan 6, 2011 5:03pm
We are still in yo-yo market...
then some losses to day...
no big deal...
since one month accounts are between + 40 % (crazy settings and test curs also) and +94 % (quiet settings) with LBOV6.
3 Tiers (new set Mer) too early but nice... perspective !
Bert
Going back in the thread I saw that Freddy the Mexican-Flying-Dutchman was there... come back Freddy ! good stuff here !
Si les cons volaient, il ferait toujours nuit...
  • #1,039
  • Jan 6, 2011 5:56pm Jan 6, 2011 5:56pm
Quoting mer071898

. I have an interesting PDF that was sent to me regarding Money Management for sports betting that also reiterates the benefit of martingale strategies, and it works!.
Mer,
would you mind sharing ?
  • #1,040
  • Jan 6, 2011 7:31pm Jan 6, 2011 7:31pm
Ola
I searched but could not find a link to the new EA, someone could help me, since you already grateful.
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