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Follow the BIG Candle

  • #241
  • Mar 29, 2014 3:24am Mar 29, 2014 3:24am
I am still not sure about "Respect the Parent Big Candle" Concept. and with any EA I think we should accept some loosing trades, but this was an Odd case for EUR/USD.
No guts, no glory
  • #242
  • Mar 29, 2014 3:31am Mar 29, 2014 3:31am
Regarding trades in M30 TF, I think that we enter the trade after the candle has traveled too far and exhausted, this could be due to the issue we discussed before in POST #222 or due to using very large ATR or ATR multiplier so the pips we are seeking are consumed by the move before the entry.
  • #243
  • Mar 29, 2014 3:33am Mar 29, 2014 3:33am
Although it is still early to judge the EA, I will keep it running until end of April. But I will increase the risk percentage to 3% instead of 1% in order to allow for proper position calculation.

At the mean time my plan for the next Final version will be to make 4 flavors of the EA as follows:

  1. Scalping : using M1 or M5 --> Big_Candle_Scalp
  2. Short-Term : Using M15 or M30 --> Big_Candle_ST
  3. Med-Term : Using H4 --> Big_Candle_MT
  4. Long Term : Using D1 --> Big_Candle_LT

New parameters to be added include:

  1. Retrace percentage for second position.
  2. Respect the Big Parent Candle

No guts, no glory
  • #244
  • Mar 29, 2014 3:41am Mar 29, 2014 3:41am
Quoting hatemfxg
Regarding trades in M30 TF, I think that we enter the trade after the candle has traveled too far and exhausted, this could be due to the issue we discussed before in POST #222 or due to using very large ATR or ATR multiplier so the pips we are seeking are consumed by the move before the entry.

Right.

For the Final version I am planning to drop ATR and use Average multiplier on a long period (1 year for M30, 2 years for H4 and so on). This amount will be entered as an input parameter by the user in Fixed Pips (i.e. I will let the user do his calculations and decide what is the proper size for the Big Candle on each pair/tf).
No guts, no glory
  • #245
  • Mar 30, 2014 8:05am Mar 30, 2014 8:05am
Starting today I changed the Risk percentage from 1% to 4% on all pairs. This will allow for better position management but comes at Higher Risk.
No guts, no glory
  • #246
  • Apr 1, 2014 8:33am Apr 1, 2014 8:33am
I got involved in a new project that will take most of my time. I will leave the EA working as is till end of April, and I will try to check the thread from time to time for questions/ideas ... etc.
No guts, no glory
  • #247
  • Apr 1, 2014 10:27am Apr 1, 2014 10:27am
Hi Abok, finally you find the key of this great EA as i see on your BC4 demo chart explorer. I think it's good enough to try bc4 in the live. Do you plan to release bc5 in the future or bc4 was the final? congrats for your new project, hope you pass it with all best.. have a nice day..
After Highest Top is start Downward, and Vice Versa
  • #248
  • Apr 1, 2014 11:13am Apr 1, 2014 11:13am
Quoting ZiC
Hi Abok, finally you find the key of this great EA as i see on your BC4 demo chart explorer. I think it's good enough to try bc4 in the live. Do you plan to release bc5 in the future or bc4 was the final? congrats for your new project, hope you pass it with all best.. have a nice day..

Thank you ZiC.

BC4 is still in the test phase, and I think its better to wait until end of April to evaluate it. As I mentioned before the EA was not working as it is supposed to because of lot size issues related to Minimum Lot set by Broker (which I didn't know when opened that Account). Now with the increased Risk Percentage and accordingly a dividable Lot Size, the EA will try to take advantage of Trend Trading, although this wont be easy as we are using short time frame, but we'll give it a try and see.

On the other hand, I've received through my PM, some valuable comments and ideas from respectable FF members on how to improve this EA. Which I will study and incorporate what is possible into BC5 planned on May 2014.

Regards and Profitable Trading,

Khalil
No guts, no glory
  • #249
  • Apr 1, 2014 11:36am Apr 1, 2014 11:36am
Ok. khalil. i'll keep my eye here waiting for the real phase. Sorry.. i couldn't give some valuable ideas bout the technical system related to this ea, coz im'not expert on it. baw, i'll not stop looking for great system like BC.

with all respects..
Ali
After Highest Top is start Downward, and Vice Versa
  • #250
  • Apr 2, 2014 7:33am Apr 2, 2014 7:33am
Unfortunately my PC at work which is running the EA was off last night due to power disconnection. I hope that it did not mess any thing. People planning to use auto trading should have an VPS account.
No guts, no glory
  • #251
  • Apr 2, 2014 6:19pm Apr 2, 2014 6:19pm
Quoting abokwaik
Now with the increased Risk Percentage and accordingly a dividable Lot Size, the EA will try to take advantage of Trend Trading, although this wont be easy as we are using short time frame, but we'll give it a try and see. On the other hand, I've received through my PM, some valuable comments and ideas from respectable FF members on how to improve this EA. Which I will study and incorporate what is possible into BC5 planned on May 2014. Regards and Profitable Trading, Khalil
Great job abok!

I've written something along the same idea, but a little different...sans indicators.

I have a few friends that run live with this same idea, though it is gridded it is based on a Follow the Leader concept...consequently named FTL...

It has had it's moments of struggle and is a static TP with a trailstop running on last position taken...but hopefully this gives you the encouragement you need to continue on with your project.



See Link HERE.
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #252
  • Apr 2, 2014 6:35pm Apr 2, 2014 6:35pm
Quoting Magix
{quote} Great job abok! I've written something along the same idea, but a little different...sans indicators. I have a few friends that run live with this same idea, though it is gridded it is based on a Follow the Leader concept...consequently named FTL... It has had it's moments of struggle and is a static TP with a trailstop running on last position taken...but hopefully this gives you the encouragement you need to continue on with your project. See Link HERE.
Hey Magix
where r u man? it's been long time
  • #253
  • Apr 2, 2014 6:37pm Apr 2, 2014 6:37pm
Quoting egkid
{quote} Hey Magix where r u man? it's been long time
Hey EG,

I built my own little hole in the wall to share some ideas with like minds...only check in at the factory every once in a while.

Hope all is well with ya, brother!
Money Can't Buy Happiness. Poverty Can't Buy SHIT! You Choose!
  • #254
  • Apr 3, 2014 6:08am Apr 3, 2014 6:08am
I don't know what happened with AUD/USD Trade today. Partail TP was not triggered although Break Even and then Trailing Stop was activated.
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30_4.png Size: 41 KB
No guts, no glory
  • #255
  • Apr 3, 2014 6:14am Apr 3, 2014 6:14am
Quoting Magix
{quote} Great job abok! I've written something along the same idea, but a little different...sans indicators. I have a few friends that run live with this same idea, though it is gridded it is based on a Follow the Leader concept...consequently named FTL... It has had it's moments of struggle and is a static TP with a trailstop running on last position taken...but hopefully this gives you the encouragement you need to continue on with your project. See Link HERE.

Thank you Magix. I will certainly take a look at FTL.
No guts, no glory
  • #256
  • Apr 3, 2014 6:38am Apr 3, 2014 6:38am
With regard to A/U trade I checked the log, and found out that the TP order was not sent by the EA. I ran the strategy tester (attached) and TP was triggered correctly, however the trailing stop was not triggerd. I think this is related to changes in ATR value calculation if the EA was stopped (and this what happened due to power disconnection on Tuesday).
Attached Image (click to enlarge)
Click to Enlarge Name: audusdm30_41.png Size: 43 KB
No guts, no glory
  • #257
  • Apr 3, 2014 6:40am Apr 3, 2014 6:40am
All such cases will be hopefully handled in the Final version.
No guts, no glory
  • #258
  • Apr 3, 2014 8:47am Apr 3, 2014 8:47am
I will explain what happened with the 3 recent consecutive losses on EUR/USD later on the weekend,
and how this should be avoided in final ea version.
No guts, no glory
  • #259
  • Apr 3, 2014 10:55am Apr 3, 2014 10:55am
Hi Abokwaik, would like to test ur final version. V4 seems like roller coaster (taking into consideration you not setting in on a vps).
  • #260
  • Apr 3, 2014 11:48am Apr 3, 2014 11:48am
Quoting wilsonch
Hi Abokwaik, would like to test ur final version. V4 seems like roller coaster (taking into consideration you not setting in on a vps).
This why I am doing forward testing. Once errors are discovred they can be resolved. I only hope that we discover all of them during this short testing period.
No guts, no glory
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