{quote} Yes, I'm testing only on USDJPY. Commissions make it really difficult for this strategy to work by the way.(my opinion)
RiskPerTrade = 0.002; input double Slippage = 2; input bool EveryTick = true; input string Martingale_settings = "----------------------------------------------------------------------"; input bool StartOverAfterEAReload=true; input double MartingaleMultiplier=3.0; input int PointsToEnter=5; input int PointsToExit=5; input int stoploss_points=80; input int takeprofit_points=180; //breakeven input bool use_breakeven=true; input int breakeven_threshold_points=95; input int breakeven_addition_points=5; //trailing stop input bool useTrailingStop=true;...
Hello my friend. Glad you like the EA. Please feel free to experiment with the settings. Have a look at the rest of the thread for some tips as well.
To answer your questions:
Points to enter / points to exit is not used in the EA and doesn't need to be in the code to be honest. So don't worry about it.
MartingaleMultiplier is a feature that will make your next trade bigger if you've had a loss. It will repeat this with each additional loss until you've had a win. So for example if you set it to 1.5 and you have a loss, your next trade will be 1.5 times bigger than your previous. This will keep happening will each trade that is a loss until you have a win. The EA will then go back to your starting lotsize.
So this EA is not a multiple entry EA. It is a one trade-at-a-time EA. Try doing a backtest on a 1 minute chart and see how it trades. I hope I helped. Good luck with the EA. I have just started running it on a VPS and it's up a bit (demo). Peace
Hi Fxforlife and friends here, TQVM for sharing this EA. For 1 lot @ commission 7.00; is this ok to use this ea? also which vps provider is good? Will u recommend CNS or other provider? TQ... Paladim
Hello Paladim,
You're very welcome for sharing the EA. Thank you for your gratitude.
I wouldn't recommend using this EA if your broker charges you 7 points of commission per trade. My broker is Armada Markets and they charge 4 points per trade which still makes it very difficult for the EA to be profitable unless you martingale a lot but then things get risky. Just my opinion. My guess is you'll find the same. Maybe if all the traders went on strike lol about the spreads and commissions we could re-design the fx brokerage to just take a cut of our winnings, say 5% and to get rid of the spreads and commissions. They would make more money, a lot more.
1 lot can be great if it fits in with your risk profile. Remember to do your calculations - especially if you use the martingale multiplier at all.
My VPS provider is a bit slow, so I wouldn't really recommend them. I'm considering using another company. Sorry I wish I could help more with this.
Good luck Paladim and if you have anymore questions please do not hesitate to ask
Take care..
Thanks FxforLife for your reply. This is a great EA,I like the martingale bit after a lost trade not as normally used. it just needs to be applied at good volatility time. Aim not a coder but if we could filter out trades with use of 200EMA and give trade breathing space of ard 20-30 pips and activate a TS of 15 pips, this EA will greatly improve. Fxforlife and xux99, thank you so much for sharing this great EA. Please lets try to add this filter, it will help us greatly as it helps me filter most of my bad trades when i trade below 1HR TF. GL to...
Unfortunately I'm not really a coder either so that makes two of us lol. Sorry I can't help with what you're asking. The EA does come with a trailing stop feature though:
input int trailingStop_threshold=20; // -> This means the trailing stop becomes activated when the trade is 20 points in profit.
input int trailingStop_trail=55; // -> This means the trailing stop is 55 points.
Hope this helps.
{quote} TQVM FXForLife, I testing this ea, currently result not so ok lol.....how about yours? can you share your latest setting in full format? Thanks
Here are some of my best settings. I have also attached a backtest equity graph for the last 2.5 months. If you can believe it, that's basically all commission. So the EA is profitable but just makes enough money to pay for the commission the broker charges. Why can't they just take a cut of the winnings. Now everyone loses.
Of course you can set the MartingaleMultiplier past 1.0 and try to outrun commissions but I wouldn't recommend it as that puts a part of your account at risk
. And we know how crazy the forex market can be.So that's where I am with the project at the moment. Here are my settings:
input double MartingaleMultiplier=1.0;
input int stoploss_points=55;
input int takeprofit_points=500;
//breakeven
input bool use_breakeven=false;
input int breakeven_threshold_points=100;
input int breakeven_addition_points=5;
//trailing stop
input bool useTrailingStop=true;
input int trailingStop_threshold=1;
input int trailingStop_trail=40;
input string Trading_hours_settings = "----------------------------------------------------------------------";
input bool AutoGMTOffset = true;
input int ManualGMTOffset = 1;
input bool DSTOffset = true;
input string TradingSession1 = "01001600"; // I had to set this to "020001700" for backtesting for some reason.
input string TradingSession2 = "00000000";
input string TradingSession3 = "00000000";
input string DailyStartHour = "0000";
And here is the one of my best equity graphs for the last 2.5 months. I've tested the strategy for a lot longer with another broker and I got good results, similar to what you see here:
{quote} Hey paladim. Here are some of my best settings. I have also attached a backtest equity graph for the last 2.5 months. If you can believe it, that's basically all commission. So the EA is profitable but just makes enough money to pay for the commission the broker charges. Why can't they just take a cut of the winnings. Now everyone loses. Of course you can set the MartingaleMultiplier past 1.0 and try to outrun commissions but I wouldn't recommend it as that puts a part of your account at risk
or any members here , I dont know if you can still read the post, but if you by chance view here, I'd like to ask you if you can show me your (FXForLife) version with the trading hours code added, since I can not download it from post#2 already. thank you.
Kind regards/seanlu
- #116
- Aug 16, 2020 11:00pm Aug 16, 2020 11:00pm
- Joined May 2009 | Status: Trader | 2,128 Posts
{quote} Hey paladim. Here are some of my best settings. I have also attached a backtest equity graph for the last 2.5 months. If you can believe it, that's basically all commission. So the EA is profitable but just makes enough money to pay for the commission the broker charges. Why can't they just take a cut of the winnings. Now everyone loses. Of course you can set the MartingaleMultiplier past 1.0 and try to outrun commissions but I wouldn't recommend it as that puts a part of your account at risk
LUCKY golden trades, LUCKY gold investor trading style