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Attachments: 3% Risk Gives You Bliss System
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3% Risk Gives You Bliss System

  • #121
  • Oct 26, 2012 3:27pm Oct 26, 2012 3:27pm
Quoting xlitang
Can you implement a feature to limit trading hours?
Yeah I can. But the limit would be based on local time. So a backtest would be worthless. The limit would work properly only in real time. And I assume people are from different time zones here. So a one size fits all limit wouldnt work for everybody.
  • #122
  • Oct 26, 2012 3:37pm Oct 26, 2012 3:37pm
Quoting Cubbybgood
Hmm. I was wondering about theose small losses in back test. No the stop loss rules are on the first page. There is no hard SL. I base SL off of the macd indicator. I'll give you an example...

example picture...

Red vertical line is our entry. Black vertical is our exit for profit. Exit trade for proift or for loss when macd crosses 0 like it did in this picture.
if no hard SL how do you know you only risk 3%?
Follow me to the Promised Land
  • #123
  • Oct 26, 2012 4:15pm Oct 26, 2012 4:15pm
Quoting xlitang
if no hard SL how do you know you only risk 3%?
Like I said in earlier posts my losing trades are usually under 20 pips. I base my risk off of 20 pips just to make things easier for my risk management
  • #124
  • Oct 26, 2012 4:19pm Oct 26, 2012 4:19pm
Quoting SpacyTrader
The EA does that- it follows your rules to the letter: only takes the first signal. That's what I was explaining to xlitang: the pending orders are what insure only the first heiken ashi signal is taken. If I remove the pending orders which he thinks are not needed the EA would take every HA signal along the xpma trend.

Now 0.4.1 also doesnt have a SL as you said and relies on MACD for closing only. Here, attaching it again.

Backtesting now wont have much value. Spread at oanda already went to 5 pips.

Thanks for this! Let's give it a try next week. See how it does. I will run it side by side on another account or on low risk using my live account

So just to clarify...
In EA settings I should put 0 SL and 0 TP if I want trades to close using the macd?
  • #125
  • Oct 26, 2012 4:36pm Oct 26, 2012 4:36pm
Quoting SpacyTrader
Backtesting now wont have much value. Spread at oanda already went to 5 pips.
MetaTrader has some big problems.

The best platform for trading system development I could find is MultiCharts. It even lets you test your strategies against BID and ASK with tick precision (though I should add that 1-min resolution will be sufficient in most cases, even for scalping).

That way you can develop your strategies on the weekend.
  • #126
  • Oct 26, 2012 5:02pm Oct 26, 2012 5:02pm
How are you limiting your risk to 3% if you don't have a hard SL?
  • #127
  • Edited 5:22pm Oct 26, 2012 5:04pm | Edited 5:22pm
Quoting Cubbybgood
Thanks for this! Let's give it a try next week. See how it does. I will run it side by side on another account or on low risk using my live account

So just to clarify...
In EA settings I should put 0 SL and 0 TP if I want trades to close using the macd?
The latest 0.4.1 already has 0 TP and SL so you don't need to make changes, maybe just the lot size from 1 to something else.

And almost forgot- using 0 SL for 0.4 wont work since that's based on risk percentage and if there's no SL it cant calculate risk. So you really need to use 0.4.1 if you're not gonna set a SL.
  • #128
  • Oct 26, 2012 5:23pm Oct 26, 2012 5:23pm
Quoting TraderJF
MetaTrader has some big problems.

The best platform for trading system development I could find is MultiCharts. It even lets you test your strategies against BID and ASK with tick precision (though I should add that 1-min resolution will be sufficient in most cases, even for scalping).

That way you can develop your strategies on the weekend.
Yeah. Pretty much every other platform is better- multicharts, tradestation, ninjatrader. The only advantage of metatrader is that it's free.
  • #129
  • Oct 26, 2012 5:26pm Oct 26, 2012 5:26pm
Quoting Cubbybgood
Thanks for this! Let's give it a try next week. See how it does. I will run it side by side on another account or on low risk using my live account
Hi Cubbybgood,

you are an aggressive trader and thats fine.
But do not use a real money account to test an unproven EA.
You will lose money if you do, I assure you.
This EA is likely to have dozens of bugs. Not only one. Dozens.
Test drive it on a demo account first.
Do you really want to lose money in order to help someone else fix software bugs?
What if the EA would - under certain circumstances - place market buy and sell orders rapidly one after another? Lets say, 1.000 per second? Even with micro lots, your account would be empty before you could even say a word.

Cheers,
TraderJF
  • #130
  • Oct 26, 2012 5:36pm Oct 26, 2012 5:36pm
Quoting SpacyTrader
[...] The only advantage of metatrader is that it's free.
... and even that is not true. In fact, it is the most expensive of all trading softwares. They license the software to your broker who deducts a license fee measured in pips (or fractions of it) from EVERY of your trades. Even if that would be "only" 0.1 - 0.5 pips, that amounts to a lot more than you would ever have to pay for any other software - given that you are serious about trading (several trades per day, 100K or more per trade).

However, to get you started, MetaTrader might be not the worst (as long as you only trade micro lots). I still would prefer to go with MultiCharts as it increases your chances of success if you can afford the license cost.
  • #131
  • Oct 26, 2012 5:38pm Oct 26, 2012 5:38pm
Quoting TraderJF
Hi Cubbybgood,

you are an aggressive trader and thats fine.
But do not use a real money account to test an unproven EA.
You will lose money if you do, I assure you.
This EA is likely to have dozens of bugs. Not only one. Dozens.
Test drive it on a demo account first.
Do you really want to lose money in order to help someone else fix software bugs?
What if the EA would - under certain circumstances - place market buy and sell orders rapidly one after another? Lets say, 1.000 per second? Even with micro lots, your account would be empty before you...
Your concern is well founded. It did have orders in rapid succession but as I said I fixed those. There was one other issue with opening orders against the MACD that were closed and reopened very quickly- fixed those too after backtests and now the BT looks fine. So it should be free from that sort of bugs now.
  • #132
  • Oct 26, 2012 5:59pm Oct 26, 2012 5:59pm
Quoting SpacyTrader
Your concern is well founded. It did have orders in rapid succession but as I said I fixed those. There was one other issue with opening orders against the MACD that were closed and reopened very quickly- fixed those too after backtests and now the BT looks fine. So it should be free from that sort of bugs now.
Yes, but there likely are still other bugs in it. Likely lots of.
That has not much to do with you or your software skills, it is a fact of software development in general.

Before you can submit a software to production use, you have to test it.
The absolute minimum test for this EA is one week of live trading on a DEMO account. This is the absolute minimum.

This is what I do when I write a strategy for myself and I am a professional software developer and software tester. Most of my software has little to no bugs before I even wrote a test for it. But I always write tests for my software anyway.
After all tests are passed, I start a test drive on a demo for at least a full week showing dozens of trades.

In addition, it does not help much when I discover the problem is not in my code but in the trading platform. I still have to find a solution for it.

To summarize, the least you have to do is a test drive for a full week on a DEMO account, anything else is crazy.
  • #133
  • Oct 26, 2012 6:08pm Oct 26, 2012 6:08pm
Quoting SpacyTrader
[...] So it should be free from that sort of bugs now.
Please be cautious when you push someone else to use your EA with real money. What if that person loses $20K with your EA? Or even worse, $200K? He might want to sue you for talking him into that mess.

That might also turn your life upside down, and I bet you want to avoid that.
  • #134
  • Oct 26, 2012 6:20pm Oct 26, 2012 6:20pm
Quoting TraderJF
Please be cautious when you push someone else to use your EA with real money. What if that person loses $20K with your EA? Or even worse, $200K? He might want to sue you for talking him into that mess.

That might also turn your life upside down, and I bet you want to avoid that.
Come on. All I said was that I think I fixed all the bugs you warned could deplete an account quickly and nowhere have I encouraged anybody to use my EA live. He said he was gonna do that with reduced lot size and then asked if he should change any settings for it. I just responded to that.

Obviously the safe thing to do is to backtest and then live test on a demo for a while. I just didn't think to suggest that since I'm not exactly the patient type either. From that to suggesting I encourage people to lose money on my EA it's a stretch. Heck, some people might sue Cubbybgood cause they lost money trading the system he kindly shared. That doesn't mean they have a case.

What do you want me to say ? Definitely anybody using my EA should first test it to his full satisfaction and not rely on anything I say. I make my own conclusions, so should they before they put any of their own money on the line.
  • #135
  • Oct 26, 2012 6:44pm Oct 26, 2012 6:44pm
Quoting SpacyTrader
Come on. [...] I make my own conclusions, so should they before they put any of their own money on the line.
Basically, I agree with you. I just wanted to point out that there might be people here who don't think that way and who might be surprised to lose money with the EA.

Mr. Steve Hopwood has a big disclaimer in his EA threads, in his first post. It could be wise to adopt that idea from him, just to be sure
  • #136
  • Oct 26, 2012 6:56pm Oct 26, 2012 6:56pm
Quoting TraderJF
Basically, I agree with you. I just wanted to point out that there might be people here who don't think that way and who might be surprised to lose money with the EA.

Mr. Steve Hopwood has a big disclaimer in his EA threads, in his first post. It could be wise to adopt that idea from him, just to be sure
Yeah lol- your reprimand reminded me of his posts.
  • #137
  • Oct 26, 2012 7:33pm Oct 26, 2012 7:33pm
Quoting SpacyTrader
Yeah lol- your reprimand reminded me of his posts.
That is not a good sign...
Sorry, I did not want to annoy you

...and of course my suggestion did not comprise the line in his disclaimer where he says "Don't trust my programming, I am an ..."
  • #138
  • Oct 26, 2012 7:37pm Oct 26, 2012 7:37pm
I'll test it on a live money account.

.01 per pip LOL
  • #139
  • Oct 26, 2012 8:24pm Oct 26, 2012 8:24pm
Alright guys. Lets get back to trading and talking about the actual system here.

Thanks again Spacytrader for your EA coding. It could be a good instrument.

Guys this is not an EA thread. This is a trend system for those that want to do Entreday trading.

I think it's very important for each trader to know how this system works. Dont get lazy...learn to trade it. I also worry, if by chance this EA is profitable it could get picked up by some jack ass and sold all over the net. I would hate for this to happen.

Lets try to keep the EA talk to a minimum. SpacyTrader, PM me if you have any questions or future updates on the EA. Doing this will avoid you getting hounded by other traders. Thanks again for your work.
  • #140
  • Oct 26, 2012 11:41pm Oct 26, 2012 11:41pm
Thanks so much for posting all this info, looks very interesting and similar to what I am doing. Might be able to offer an option for a slightly better exit but will try out first and let you know. Yours is most definitely a better entry. I downloaded your HA indicator and it looks completely different on my charts, any idea why? Have you made any changes in settings? Thanks again. Using mt4 admiral markets. Downloaded twice and checked over and over, it is the right one.
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