Sixths trading - an EA by macman, Bob and Steve mk 2 | Page 95 | Forex Factory

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

  • #1,881
  • May 25, 2011 10:35am May 25, 2011 10:35am
Quoting SteveHopwood
I am going to do something about this at some stage.

OK nice one Steve.
  • #1,882
  • May 25, 2011 4:37pm May 25, 2011 4:37pm
I am just getting my head around this EA but I thought I would throw my demo up here for review. Performing nicely. I pretty much ran every major pair including the metals.

I used 0.1 lot on each pair with my $10k demo but the XAGUSD needs a much smaller lot size as it is causing my large drawdown right now.

Except for that, things look fine so far. I like the concept of this EA a lot.

Dave R.
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  • #1,883
  • May 25, 2011 9:17pm May 25, 2011 9:17pm
Just adding some observations during my learning curve.

The XAGUSD is continuing to kill me. Way too over leveraged on this one. I guess that what demos are for.

I am just entering my first 6 recovery on the 1,2,6 recovery for the AudNzd. Very interesting to watch.

Dave R.
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  • #1,884
  • May 26, 2011 12:09am May 26, 2011 12:09am
Quoting droland
I am just getting my head around this EA but I thought I would throw my demo up here for review. Performing nicely. I pretty much ran every major pair including the metals.

I used 0.1 lot on each pair with my $10k demo but the XAGUSD needs a much smaller lot size as it is causing my large drawdown right now.

Except for that, things look fine so far. I like the concept of this EA a lot.

Dave R.
The original idea behind this EA was to run a set of correlated currency pairs, so that theoretically your floating drawdown will not go into free fall.

If you are testing all pairs, I would suggest picking out the best performing pairs with the lowest floating drawdown and using these. I am not sure metals will work here.

Please post your findings as I am sure it will help many.
  • #1,885
  • May 26, 2011 1:19am May 26, 2011 1:19am
Quoting droland
Just adding some observations during my learning curve.

The XAGUSD is continuing to kill me. Way too over leveraged on this one. I guess that what demos are for.

I am just entering my first 6 recovery on the 1,2,6 recovery for the AudNzd. Very interesting to watch.

Dave R.
You might find that 0.1 lots per $1000 is too high. I trade live 0.01 lots per $200 (IBFX Aussie 100:1). Even that gave us a bit of a scare after the Japan earthquake and some of us were too exposed to the Yen. This event led to developing all the filters designed to avoid over-trading.

These filters should keep your account safe as they will not allow trading past the line you draw in the sand. The problem with your lot size is that L3 Recovery will eat up your margin rapidly and send TB into a non-trading status, leaving the account going nowhere.

We will watch your experiments with interest.

  • #1,886
  • May 26, 2011 5:03am May 26, 2011 5:03am
Steve, correct me if I am wrong:

0.01 per $200 or 0.1 per $2000. Also you have to consider this parameter: MaxOpenPairsAllowed.

I believe if one trades 0.1 per $2000, also MaxOpenPairsAllowed must be set to 1. When account balance moves to $4000, then MaxOpenPairsAllowed should be set to 2, and so on....
  • #1,887
  • May 26, 2011 5:29am May 26, 2011 5:29am
Quoting fchaman
Steve, correct me if I am wrong:

0.01 per $200 or 0.1 per $2000. Also you have to consider this parameter: MaxOpenPairsAllowed.

I believe if one trades 0.1 per $2000, also MaxOpenPairsAllowed must be set to 1. When account balance moves to $4000, then MaxOpenPairsAllowed should be set to 2, and so on....
What lot size you trade is up to you. I tell people what I am trading.

  • #1,888
  • May 26, 2011 5:33am May 26, 2011 5:33am
Here is a pm from Eamonn:

"Hi Steve,

hope you are well.
Ive noticed that the box trades almost always end up in a Buy/sell. Why don't we just take a buy sell at the white line same price and then we won't have any drawdown as the trade unwinds?

Cheers Eamonn "

He has a point for sure. Any thought, guys?

  • #1,889
  • May 26, 2011 6:14am May 26, 2011 6:14am
This morning I looked at a weekly correlation pairs chart which can be found here http://www.mataf.net/en/tools/01-01-correlation

Upon inspection of this chart I found that the following pairs of pairs are highly negatively correlated (between -75 to -95):

GBP/USD & USD/JPY
AUD/CAD & CAD/CHF
AUD/JPY & USD/CAD
EUR/USD & USD/CHF
GBP/CHF & CHF/JPY
AUD/USD & CAD/CHF

These are not the only combinations so have a look for yourself. I have set the beast running now on the above pairs so i'll see how it goes but theoretically speaking they should balance eachother out well.

Hope this helps.
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #1,890
  • May 26, 2011 6:21am May 26, 2011 6:21am
Quoting jimmynoodles
This morning I looked at a weekly correlation pairs chart which can be found here http://www.mataf.net/en/tools/01-01-correlation

Upon inspection of this chart I found that the following pairs of pairs are highly negatively correlated (between -75 to -95):

GBP/USD & USD/JPY
AUD/CAD & CAD/CHF
AUD/JPY & USD/CAD
EUR/USD & USD/CHF
GBP/CHF & CHF/JPY
AUD/USD & CAD/CHF

These are not the only combinations so have a look for yourself. I have set the beast running now on the above pairs so i'll see how it goes but theoretically speaking they...
Just realised that CAD/CHF was replicated in the list.

AUD/USD should be paired with EUR/AUD instead of CAD/CHF.
The best trade I ever made was my SIN for Jesus' RIGHTEOUSNESS.
  • #1,891
  • May 26, 2011 7:36am May 26, 2011 7:36am
Agree with that thinking. Almost all the box trades here are buy and sell.

Thanks for the correlated pairs, Jimmy
  • #1,892
  • May 26, 2011 7:55am May 26, 2011 7:55am
Quoting winsteadglenn
Agree with that thinking. Almost all the box trades here are buy and sell.

Thanks for the correlated pairs, Jimmy
I'll second that. Sounds like plan.

By the way has anyone run TB without the positive swap filters ?

Obviously no box trades are possible with the filters so that reduces the number of pairs box trading.

I have 25 pairs and 12 of them are filtered by the swap for box trading.

Think I'll start a new demo on Sunday just to see how it fares.

Anyone tried this ?
  • #1,893
  • May 26, 2011 8:43am May 26, 2011 8:43am
Quoting fchaman
Steve, correct me if I am wrong:
0.01 per $200 or 0.1 per $2000. Also you have to consider this parameter: MaxOpenPairsAllowed.
I believe if one trades 0.1 per $2000, also MaxOpenPairsAllowed must be set to 1. When account balance moves to $4000, then MaxOpenPairsAllowed should be set to 2, and so on....
My a/c with IBFX is Micro so 0.01 lot is 1 cent whereas with other a/cs it is 10 cents, I think this is the case with Steve`s a/c as well. That is why in NB thread I always state money rather than lot size to avoid confusion.

I have been trading NB system for around 15 months and IMHO anything less than $1500 a/c balance per 10 cent lots is suicidal.

Kind regards
  • #1,894
  • May 26, 2011 9:47am May 26, 2011 9:47am
Quoting SteveHopwood
Here is a pm from Eamonn:

"Hi Steve,

hope you are well.
Ive noticed that the box trades almost always end up in a Buy/sell. Why don't we just take a buy sell at the white line same price and then we won't have any drawdown as the trade unwinds?

Cheers Eamonn "

He has a point for sure. Any thought, guys?

As I am new to this thread, I didn't want to jump in with this observation yet but that was what I thought as well. Since we have the recovery in place, thus eliminating the SL, it makes sense to pick up the extra pips by entering both long and short right at the middle line and let it run from there.

The recovery idea is great.

My only caveat would be that since we are entering earlier, we could hit the end of the 1,2,6 recovery sequence sooner and if I read the thread correctly (yes I am going to read through it again) then if the level 6 continues against us, then we have to use manual intervention from that point on (ie closing the first bad trade (1) etc.)

If so, people will have to keep a sharp eye on this in fast moving markets. We might have to think about extending the coding for this eventuality for safety reasons.

I have to run out today, but I will reply to some of the other valid comments later.

This is fun. Thanks Steve and the gang here for allowing me in.

Dave R.
  • #1,895
  • May 26, 2011 10:40am May 26, 2011 10:40am
Dave makes a good point. One could perhaps make the buy-sell spread very small, and the current setup would work.
  • #1,896
  • May 26, 2011 12:22pm May 26, 2011 12:22pm
Quoting SteveHopwood
Here is a pm from Eamonn:

"Hi Steve,

hope you are well.
Ive noticed that the box trades almost always end up in a Buy/sell. Why don't we just take a buy sell at the white line same price and then we won't have any drawdown as the trade unwinds?

Cheers Eamonn "

He has a point for sure. Any thought, guys?

That makes sense. Most of the time both pendings fill and the trades float around in between for hours.

Another thing to consider is that since pendings wouldn't be needed anymore (instead the bot could open market orders in both directions when PA touches middle white line) the balance filters could now be applied to box trading now
  • #1,897
  • May 26, 2011 2:29pm May 26, 2011 2:29pm
Quoting droland
As I am new to this thread, I didn't want to jump in with this observation yet but that was what I thought as well....
There is a frequent need for manual intervention; this is not a set-and-forget ea.


Quote
This is fun. Thanks Steve and the gang here for allowing me in.

Dave R.
Yep, it's a blast.

  • #1,898
  • May 26, 2011 2:45pm May 26, 2011 2:45pm
Hi Steve,

TB has been updated today in post 1! What was the change?

Thanks!
  • #1,899
  • May 26, 2011 2:50pm May 26, 2011 2:50pm
Quoting fchaman
Hi Steve,

TB has been updated today in post 1! What was the change?

Thanks!
Nothing much. Just a warning that there is no such thing as a set-and-foget ea in the red bit at the top. I have been meaning to add this for ages.

  • #1,900
  • May 26, 2011 2:54pm May 26, 2011 2:54pm
Quoting astral77
My a/c with IBFX is Micro so 0.01 lot is 1 cent whereas with other a/cs it is 10 cents, I think this is the case with Steve`s a/c as well. That is why in NB thread I always state money rather than lot size to avoid confusion.

I have been trading NB system for around 15 months and IMHO anything less than $1500 a/c balance per 10 cent lots is suicidal.

Kind regards
Agreed! I trade with fxcm and have a mini a/c...blown my account once with $500 deposit with TB...then deposited $800 a month ago, and put the TB on 13 pairs (but with MaxOpenPairsAllowed=1)...balance is currently $1800.
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