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Follow the BIG Candle

  • #101
  • Mar 9, 2014 7:35am Mar 9, 2014 7:35am
Just for the FUN of it. I re-run the test in attached image above with following Risk_Reward Ratio:
starting balance 10,000 period 1/1/2013 - 28/2/2014 - GU - Daily

Risk_Reward_Ratio 1:1 Profit 27,269
Risk_Reward_Ratio 1:2 Profit 32,800
Risk_Reward_Ratio 2:1 Profit 29,330
No guts, no glory
  • #102
  • Mar 9, 2014 8:44am Mar 9, 2014 8:44am
I ran similar tests on 2012, but most of them failed.

I think I am missing something here.
No guts, no glory
  • #103
  • Mar 9, 2014 8:49am Mar 9, 2014 8:49am
Quoting abokwaik
I ran similar tests on 2012, but most of them failed. I think I am missing something here.
You are not necessary missing something. The fact is that an EA won't work with the same setup (settings) in any market situation.
MT4/MT5 EAs/Indicators/Alerts coder
  • #104
  • Mar 9, 2014 8:51am Mar 9, 2014 8:51am
Quoting FerruFx
{quote} You are not necessary missing something. The fact is that an EA won't work with the same setup (settings) in any market situation.

That's disappointing. Should we drop auto-trading then or what ?
No guts, no glory
  • #105
  • Edited 9:39am Mar 9, 2014 8:53am | Edited 9:39am
Hi there! i'm a 19 year old student, and i'm new to trading (and the forums, 1st post woooo!) and find your EA quite interesting.

I have added the EA, and will wait until the market opens to give it a try!
  • #106
  • Mar 9, 2014 9:15am Mar 9, 2014 9:15am
Quoting abokwaik
{quote} That's disappointing. Should we drop auto-trading then or what ?
No ... but the deal is to adapt it regularly according to market conditions.

And never base your "hope" on backtests ... NEVER.

Backtests are useless in my opinion and should be used only to confirm that a strategy is trading as per the rules ... but definitively not for checking profitability.
MT4/MT5 EAs/Indicators/Alerts coder
  • #107
  • Mar 9, 2014 9:17am Mar 9, 2014 9:17am
Hi
yes I know that the programming of EA will take an hour, but why If you have already done it.
I think your money management is not correct, because I have done the taste EUR/USD (fix lot=0, risk = 0,05) as a result the balance was 0.
that is why I offer you my money management you can use it and than discuss the result.
here is it
Balance / (max draw down pips x 1000 / risk percent) where max draw down is the draw down during the test in pips, and the risk percent is the permitted risk of our balance, it means in the worst situation we will lose the amount of risk. For example
balance =10000, max draw down pips =300, and the risk percent = 30. In this case size will be 1 lot
  • #108
  • Mar 9, 2014 9:26am Mar 9, 2014 9:26am
Quoting FerruFx
{quote} No ... but the deal is to adapt it regularly according to market conditions. And never base your "hope" on backtests ... NEVER. Backtests are useless in my opinion and should be used only to confirm that a strategy is trading as per the rules ... but definitively not for checking profitability.

As an expert in this field, and from your experience, Is it possible to have positive expectancy on the long run using EAs.
Or as most do, you need to make consecutive withdrawals each time you double your account ?
No guts, no glory
  • #109
  • Mar 9, 2014 9:37am Mar 9, 2014 9:37am
The Money Management I offer you , it will as riise as it works, so you need not to do withdrawals
  • #110
  • Mar 9, 2014 10:48am Mar 9, 2014 10:48am
Quoting abokwaik
{quote} As an expert in this field, and from your experience, Is it possible to have positive expectancy on the long run using EAs.
If I was an EA seller/marketer, I would say YES for sure ... but I am not
MT4/MT5 EAs/Indicators/Alerts coder
  • #111
  • Mar 9, 2014 1:18pm Mar 9, 2014 1:18pm
Here is what I will do starting tomorrow;
Run the EA on the following pairs:
GBPUSD EURUSD AUDUSD USDJPY EURJPY GBPJPY

TF M30 Balance 10,000 risking 1% on each trade.

You can view the results on the trade explorer.
No guts, no glory
  • #112
  • Mar 9, 2014 2:34pm Mar 9, 2014 2:34pm
Just a thought :

I am sure that when big candle shows up it means something.

It is either a real breakout for a trend start/continuation, OR, stop hunting for a trend reversal.

So what if we put a SellStop order below the big candle, and a BuyStop order above the big candle , with stoploss at the other end ?
No guts, no glory
  • #113
  • Mar 9, 2014 2:39pm Mar 9, 2014 2:39pm
I am thinking also of a better way to identify the Big Candle, I am not sure that using ATR is the best method.

I mean the Big Candle should stand out of all recent candles, maybe twice as large as the largest candle in the previous 20 or 50 candles ... I don't know.
No guts, no glory
  • #114
  • Mar 9, 2014 9:56pm Mar 9, 2014 9:56pm
Hello abokwaik.

Check this indi maybe help.

Attached File(s)
File Type: mq4 PipKey2.mq4   6 KB | 1,325 downloads

Attached File(s)
File Type: mq4 PipKey.mq4   6 KB | 1,004 downloads

Nice day
  • #115
  • Mar 9, 2014 10:04pm Mar 9, 2014 10:04pm
Hello abokwaik.

Check this indi maybe help.

Attachment
Attachment

[code]http://forexincomemap.estreamdesk.com/forums/43565/topics/18437[code]


Nice day
  • #116
  • Mar 10, 2014 4:28am Mar 10, 2014 4:28am
Quoting howa61
Hello abokwaik. Check this indi maybe help. {file} {file} Nice day
Thanks. I will look into it.
No guts, no glory
  • #117
  • Mar 10, 2014 4:43am Mar 10, 2014 4:43am
I just started the EA now on the demo account linked to Trade Explorer on the six pairs GBPUSD EURUSD AUDUSD USDJPY EURJPY GBPJPY All with the same parameter settings attached to post#88.
No guts, no glory
  • #118
  • Mar 10, 2014 5:08am Mar 10, 2014 5:08am
Quoting howa61
Hello abokwaik. Check this indi maybe help. {file} {file} Nice day

It seems that this indicator is looking for Pin Bar reversals. Which is a different strategy.
No guts, no glory
  • #119
  • Mar 10, 2014 6:16am Mar 10, 2014 6:16am
Hi, I'm new here, writing from Venezuela.
I don't know too much about forex, but I'm trying to get as much knowledge as I can, so I'm really thankful for your work.
I think I understand how this system work and although this month don't look to be very volatile I'll be waiting to see the results in your explorer. Wish I can start helping with important comments within a short future.

Sorry for my poor english, I'm new with it too.
  • #120
  • Mar 10, 2014 6:57am Mar 10, 2014 6:57am
Quoting earndude
Hi, I'm new here, writing from Venezuela. I don't know too much about forex, but I'm trying to get as much knowledge as I can, so I'm really thankful for your work. I think I understand how this system work and although this month don't look to be very volatile I'll be waiting to see the results in your explorer. Wish I can start helping with important comments within a short future. Sorry for my poor english, I'm new with it too.

You are welcome. Your English is fine with me as its not my native language.

Any ideas on how we can improve this strategy are certainly welcomed.

I am working now on developing a new EA around the thoughts in posts # 112 and 113. And at the same time keeping the old strategy working on the demo account for a couple of months and see how it performs.

Regards,
No guts, no glory
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