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"Awesome" auto-trading robot by SteveHopwood

  • #61
  • Aug 1, 2011 9:09pm Aug 1, 2011 9:09pm
Thanks Steve, downloaded - will advise back after running it a while.
Appreciate that you took the time to humour me and my request!
  • #62
  • Aug 3, 2011 1:47am Aug 3, 2011 1:47am
Quoting SteveHopwood

Awesome
This is not a ludicrous claim by me about the power of the EA. I have named the robot to reflect the pdf that posits the system it trades. Read about the system in the pdf; once you get your head around it, it is as easy as shelling peas.
Hi Steve,

This is the best and easiest way to make money in Forex, I had a blast the last 2 days, making 1.000,- + a day untill last night.....
[using the original Awesome, without the FH part]

On two occasions the SL of the losing orders was triggered before the TP of the winning orders, and after that the price reversed making another [bigger] loss. Both were already on the 2.4 lot level....

I see 2 way's to prevent this happening;
- Incorporate the spread in the TP/ SL calculation, so all are triggered at the same time [for example, make the SL 3 pips lower for a 3 pip spread]

- Incorporate some coding in the EA that if one of the orders is closed, the EA will close all the open orders from the particulair pair.

Are you willing and able timewise to change this?

Thanks for your reply,
Best,

Gertjan
  • #63
  • Aug 3, 2011 1:56am Aug 3, 2011 1:56am
Hi Steve,

I make this another post for the ease of responding so everybody knows were to react to.

Doing some testing I think I stumbled upon a method to trade Awesome with lower margin-requirements.

At the moment lots add up a fair bit when the price isn't trending, swallowing margin requirements. As far as I know the hedging orders don't take margin, but still.....

What if we change the SL from 60 to 30, closing on the opening of the opposite trade. For this I see 2 pro's;

- The new trade doesn't have to be so big, instead of a 2nd trade of 0.03 a 0.02 is enough, following by a 0.04, 0.08, 0.16 etc. etc. When my calculations are right, you end up with less than 1/2 of the margin required from the original method.
- The spread doesn't interfere with the SL/ TP anymore [see previous post].

Please share your thoughts about this...

Best,

Gertjan
  • #64
  • Edited Aug 4, 2011 1:56am Aug 3, 2011 2:05am | Edited Aug 4, 2011 1:56am
Hi Steve,


I just love this EA.....

1. Using your modded version with safety feature - works! Sorry for earlier comment that it didn't....

2. I may not have understood the EA 100% but I think that SL must always be 2x TP, so the manual entry option for SL should be removed to lessen errors and substantial losses


Thanks!
  • #65
  • Aug 4, 2011 7:00am Aug 4, 2011 7:00am
Quoting Gertje

- The new trade doesn't have to be so big, instead of a 2nd trade of 0.03 a 0.02 is enough, following by a 0.04, 0.08, 0.16 etc. etc. When my calculations are right, you end up with less than 1/2 of the margin required from the original method.
- The spread doesn't interfere with the SL/ TP anymore [see previous post].

Please share your thoughts about this...

Best,

Gertjan
Gertjan, There is an option in the EA MartingaleMultiplier, in that if you set it to 2...The lots would be 0.01, 0.02, 0.04, 0.08....and so on...

However, the issue with going above lot is..the lots cancels itself with no profit no loss..i tried the set up with 2 multiplier in demo and there were no profit no loss..only if the first lot 0.01 is right we get profit else all other lot cancels itself...

I'm not sure, however, it has to be triple the lots from the first one to be profitable...you can check it out in demo....Thanks
  • #66
  • Aug 4, 2011 8:05am Aug 4, 2011 8:05am
Quoting spiderforex
Gertjan, There is an option in the EA MartingaleMultiplier, in that if you set it to 2...The lots would be 0.01, 0.02, 0.04, 0.08....and so on...

However, the issue with going above lot is..the lots cancels itself with no profit no loss..i tried the set up with 2 multiplier in demo and there were no profit no loss..only if the first lot 0.01 is right we get profit else all other lot cancels itself...

I'm not sure, however, it has to be triple the lots from the first one to be profitable...you can check it out in demo....Thanks
Hi Spiderman,

Thanks for your reply, it seems I didn't express myself as clear as I would.

My idea is that the SL is moved to the entrypoint of the opposite trade, so a 30 pip SL and a 30 pip TP with a 'box' of 30 pips.

This way there is only 1 order open at a time, and with the lotsize-sequence you mentioned, there will always be 30 pips profit once the sequence is closed with a TP.

short 0.01: -30*1= -30
long 0.02: -30*2= -60
short 0.04: -30*4= -120
long 0.08: +30*8= +240 [-30-60-120] = +30

long 0.01: -30*1 = -30
short 0.02: +30*2 = +60 [-30] = +30

short 0.01: -30*1 = -30
long 0.02: -30*2 = -60
short 0.04: -30*4= -120
long 0.08: -30*8= -240
short: 0.16: -30*16= -480
long: 0.32: 30*32= +960 [-30-60-120-240-480] = +30

Etc, etc.

So DONT let the SL run until the opposite TP, but only to the entrypoint.
If only this could be programmable...... [daring Steve to step in... ]

Best,

Gertjan
  • #67
  • Aug 4, 2011 8:07am Aug 4, 2011 8:07am
Quoting Gertje
Hi Steve,

This is the best and easiest way to make money in Forex, I had a blast the last 2 days, making 1.000,- + a day untill last night.....
[using the original Awesome, without the FH part]

On two occasions the SL of the losing orders was triggered before the TP of the winning orders, and after that the price reversed making another [bigger] loss. Both were already on the 2.4 lot level....

I see 2 way's to prevent this happening;
- Incorporate the spread in the TP/ SL calculation, so all are triggered at the same time [for example, make...
I tried the second option, leaves less profit when multiple orders are open for a pair. THe spread kills the profit fast.

Only the first entry gives full profit, after that it's trying to survive the account....

I guess my previous post is the way to go.
  • #68
  • Aug 4, 2011 8:50am Aug 4, 2011 8:50am
I noticed it is very important to get 'the direction' of the first trade right.

This gives more profit, since if the initial order is 'wrong', price will have to travel 60 pips to give profit. Instead of the 30 if the direction is right from the start. In this case, one could have had 2 profitable trades instead of one.

Anyone has any good ideas how to get the direction right most of the times? I played with the options in the EA, but am not sure if I understand them right.

Best,
Gertjan
  • #69
  • Aug 4, 2011 8:52am Aug 4, 2011 8:52am
Quoting Gertje
Anyone has any good ideas how to get the direction right most of the times? I played with the options in the EA, but am not sure if I understand them right.
If we'd know that we'd forget about this bot and just trade that direction, right
  • #70
  • Aug 4, 2011 8:54am Aug 4, 2011 8:54am
Quoting esquire
If we'd know that we'd forget about this bot and just trade that direction, right
Touché!

But I'm sure you know what I'm trying to tell....
  • #71
  • Aug 4, 2011 9:56pm Aug 4, 2011 9:56pm
Quoting Gertje
Hi Spiderman,

Thanks for your reply, it seems I didn't express myself as clear as I would.

My idea is that the SL is moved to the entrypoint of the opposite trade, so a 30 pip SL and a 30 pip TP with a 'box' of 30 pips.

This way there is only 1 order open at a time, and with the lotsize-sequence you mentioned, there will always be 30 pips profit once the sequence is closed with a TP.

short 0.01: -30*1= -30
long 0.02: -30*2= -60
short 0.04: -30*4= -120
long 0.08: +30*8= +240 [-30-60-120] = +30

long 0.01: -30*1 = -30
short 0.02: +30*2 = +60 [-30]...
great idea....however, at what point should we move the stop loss to the entry point of the opposite trade...Im sorry im a bit confused...did you meant...we only open one single trade at a time and when that trade moves + or - 30 pips we open the next trade in the opposite direction of the first?

==============

To over come the issue of margin and martingale increase in choppy sessions. I have increased the size of the gap from 30/60 to 75/150 now. With this, the martingale rarely passes 0.01, 0.03 lots...It would be extremely bad day for a pair to cross/chop 75 pips three four times a day, i have only seen this happening three four times a year in 5 years of trading now...and never more than that...so, we would very very rarely cross 0.01, 0.03, 0.06, 0.012 lots not more than that ..

Also, the good thing with increase in gap is the profit from first trade is higher than 30 pips, if you get the first trade right that is however, frequency of trades would be less too....but then by increasing the gap, you won't have to worry about martingale doubling up and margin

With the above gap, we can trade in multiple pairs as well without worrying too much about margin call when martingale starts doubling up

================

I'm trading in 15M chart with RSI as 60 M, so far, the first trade has always been right.

================

Thanks
  • #72
  • Aug 5, 2011 4:22am Aug 5, 2011 4:22am
Quoting spiderforex
great idea....however, at what point should we move the stop loss to the entry point of the opposite trade...Im sorry im a bit confused...did you meant...we only open one single trade at a time and when that trade moves + or - 30 pips we open the next trade in the opposite direction of the first?
Not really, leave the system the way it is, but shift the SL to the entrypoint of the new trade and make it a 1, 2, 4 sequence. If a trade results in a TP, re-start the sequence from scratch.

Quoting spiderforex
To over come the issue of margin and martingale increase in choppy sessions. I have increased the size of the gap from 30/60 to 75/150 now. With this, the martingale rarely passes 0.01, 0.03 lots...It would be extremely bad day for a pair to cross/chop 75 pips three four times a day, i have only seen this happening three four times a year in 5 years of trading now...and never more than that...so, we would very very rarely cross 0.01, 0.03, 0.06, 0.012 lots not more than that ..

Also, the good thing with increase in gap is the profit from first...
Interesting idea, I'll try that. Can you explain where and how to put the RSI in the set-file as you have it?
  • #73
  • Aug 5, 2011 9:23am Aug 5, 2011 9:23am
Hello Steve and thanks for the vouch. I have been using the Awesome EA for 2weeks now on LIVE account and the performance has been OK. I noticed that the only problem with the EA is margin. It will blow any account with the martingale sequence it uses.... and i have come up with some ways through which the EA can be improved and become a winner at "all" times.

SPREAD

I noticed that the take profit and stop loss are the same value. i.e., spread is not being factored in. This has caused me to manually close some trades when the SL of one was reached but due to the spread in between, the TP of the other wasn't reached. From here, I discovered it will be more accurate if we factor in the spread of the ccy.

Lets say the spread of EurUsd is 2pips, then this should be factored into the TP and SL calculations. Awesome should be able to do this so all trades will be closed at once.

TP and SL

I noticed that the worst Awesome can do is BE. But with a 10pips change, one can turn Awesome into a winner at all times. Right now, Awesome has a TP of 30pips and an SL of 60pips. With this, if a sequence is on, it will only BE.

IF we add a 10pips change to the SL, the first trade will close at -70pips * 1 while the other trade will close at +40pips * 2. From this little change of 10pips, Awesome will no longer be a BE bot but instead, a sure winner. This pips change can be increased per user preference. Don't forget to factor in the spread in this calculation also thus making the overall profit 8pips on EurUsd.

I still have 3 more things to add to the EA but right now, am not able to lay my hands on them. Will post them later.


  • #74
  • Aug 8, 2011 8:13am Aug 8, 2011 8:13am
Quoting Gertje
Not really, leave the system the way it is, but shift the SL to the entrypoint of the new trade and make it a 1, 2, 4 sequence. If a trade results in a TP, re-start the sequence from scratch.



Interesting idea, I'll try that. Can you explain where and how to put the RSI in the set-file as you have it?
Hi sorry for the delay in reply...due to weekend was out..

You can adjust the RSI at useRSitrendDetection in that rsitdtf=1440 change that to 60

Also, be cautious, due to very high volatility as markets have crashed 75 to 150 pips gaps also may not be good enough from now, Im not sure...we need to fine tune this EA further as the chances of margin call is very very high in this EA....i have been hit with margin call many times now....even with 75 pips gap with EURCHF.

Im not sure if its a good idea to trade live without making some changes as described by hefhem above...using this as it is will blow the account at some point in time...

However the EA has great potential..only issue is with margin call....if we can solve that..it will be a sure shot winner all the time
  • #75
  • Aug 9, 2011 4:08am Aug 9, 2011 4:08am

TREND DETECTION

I noticed that Awesome uses the one hour RSI to determine trend. Not that this is bad, but i think its lagging in relation to recent movements in the markets.
Whenever there is a big move in the opposite direction of the one hr trend, the best Awesome can do is BE. There are times the big move will be over 100pips and Awesome won't be able to make "anything" out of it. i think there should be a change.
My proposition is that Awesome should use the 5minutes chart to determine its trend. Since there are 12 five minutes candles in an hour, then we can tell Awesome to consider the trend to be up or down when the price is above or below the 48EMA (4hrs). This will help Awesome adapt better to the market movements even in volatile times.
We can even adapt it to 1min TF, its all a matter of choice. I think this should be made input-able based on user preferences.

MONEY MANAGEMENT

I think it will be better if this is factored into the inputs of Awesome. Lets say there is an option to tell the bot not to risk more that x% of the account for the maximum number of trades the user specified, wont it save the user from margin call, negative margin etc?
If for instance, the user ask the bot not to risk more than 5% of his balance for the maximum number of 5 trades, I think on the overall, even if Awesome does not BE, the trader will not loose more than the 5% he specified. I think this will better protect users account alongside the BE mode.

These are the mods I propose hoping to make Awesome better.



  • #76
  • Last Post: Aug 9, 2011 6:12pm Aug 9, 2011 6:12pm
Sorry not to respond much here guys.

Thing is, I coded a bot that trades a specific system. A lot of the posts here attempt to to develop the system but I have no interest in this.

Unless you are a newbie, then you know my opinion of Martingale systems.Ok, so I tried it on a bust account, but this is the nearest it will ever get to my live account.

If any of you can ever write to me saying, "Ehup feller. Here is how I have been profitably trading my version of Awesome for 6 months............" then I am not interested.

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