{quote} maybe did you think that this EA placed only winning trades or make you rich overnight ? I guess you have to learn a lot what trading is about...
Life is like a snickers, its full of nuts!
- #202
- Apr 2, 2015 3:35am Apr 2, 2015 3:35am
I have to officialy says that: Udine EA doesn't works. DONT USE IT ON REAL ACCOUNTS, IT MAKES LOOSES. {image}
@Mariodrugs;
I know it has been said, but it's not really fair to say the EA doesn't work. Aside from a couple of glitches which have been/are being resolved it actually seems well coded and performs as it should. I Have run it all this week and (once i remembered to allow DLL imports
). It took entries as I would expect. So, you really can't take issue with the EA.Did you follow the original thread and trade the method manually?
If you did then you should not be surprised that you suffer losses.
Actually, in this way I think the choice of Udine's method for an EA test is a curious one.
@skyline, please don't get me wrong; I really appreciate your effort and your coding abilities, but as someone who has followed Udine's thread you must have realized that mechanical execution via an EA would not go so well? Probably not the best reflection of your clearly good coding skills.
Also, most are probably aware that a short time ago, another member released a dashboard for this method. It's worth asking yourself why he didn't release an EA?
I followed the thread for a long time, demo trading for a while, but I moved to live trading smaller risk within a month. In my opinion live trading is the only way to really test something with such tight pip parameters. I traded it for around 6 months before I decided to discontinue.
Over that time I was profitable, but my results didn't come close to the ones posted by Udine.
Udine's method works for him because he uses his own discretionary analysis to filter the low probability trades. Someone else here has already alluded to such filters, with pair sync, proximity to DO line etc.
Without these filters, and without viewing the charts objectively as they evolve dynamically, the 00 method will be a losing one.
Mathematically; excluding costs and with the RR ration of 2:1, you must maintain a 66% winning rate to break even overall. With costs and execution factors such as slippage and commissions, that creeps to more like +70%.
Just to break even!
The overall principle of the method is simple, but making it work is just as difficult as any other.
The biggest problem is; once you suffer DD, you will need an excellent win rate to get back on track. 2 wins are needed to not quite cover one full loss, so once you are sitting in around -6% DD, you would need 3 clear winning days to get back to BE. It was for this reason I stopped. I am simply not as good as Udine at filtering.
You may ask why I'm bothering to test the EA if I think it will not do well?
Simply put; it's always good to know where to find a good coder
I know the method, I know how the EA should operate.
If it does this well, I may want to employ skyline's services if he is willing.
Will still be testing and watching. Good luck all!
Wealth comes from what you keep, not what you earn
{quote} Hi, @Mariodrugs; I know it has been said, but it's not really fair to say the EA doesn't work. Aside from a couple of glitches which have been/are being resolved it actually seems well coded and performs as it should. I Have run it all this week and (once i remembered to allow DLL imports
So I came to the conclusion that that is not important where we enter or it will be .00 level, .010 level .0234 level 0.456 level 0.900 level .100 level, .6785, .2734, .7654 - The Price Will Do What They Want.
- #204
- Apr 2, 2015 4:33am Apr 2, 2015 4:33am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
- #205
- Apr 2, 2015 5:25am Apr 2, 2015 5:25am
Hi Trader34, thank you for your post ! I completely agree with you, infact I wrote multiple times that I don't believe in this EA to be profitable in the long run (+1 years) for a lot of reasons mostly because it cannot backtested with good accuracy. I just coded it as a challenge to see if Udine's strategy could be automatized , the problem I faced then was that original method posted by him was changed over and over adding multiple indicators, filter and so on, so as you said it's impossible to code the whole strategy because a lot of discrectionary...
But I like your EA. I'm no coder, but I appreciate the complexities of getting this method right. As I said, I think you've done a good job. Frankly I don't care if it blows the account. I'm fairly sure it won't be positive.
Mariodrugs;
It should be obvious to a trader that if you can't manually profit from a system, an EA won't change that. All the mechanical information is in the EA from Skyline. Despite best efforts, it's impossible to code in all the discretionary filters.
In the best case, if I were a 00 trader, I would have used this EA to alert me to potential entries. This way, I could focus on other things, and if/when an alert came, I could decide whether or not to trade it. But, I don't trade 00 anymore.
Also, fine 00 didn't work for you. But I don't see how you can call it a scam.
Udine hasn't sold anything. Hasn't asked for anything (other than a coffee in person!
) I have my own very negative opinions regarding the dashboard, but that was not from Udine himself. Nor as I understand, does he profit from any sales.
Udine is still there, offering support, answering questions and updating in that thread, not asking for a cent.
I fail to see how this is a scam.
I used it, and I made money. Not a lot, and not enough to hold my attention, but I don't blame the method.
I don't doubt Udine uses it, and makes money.
I can't use the system well, but I don't take it personally. It just doesn't fit my style.
Am I a crap trader because I can't replicate Udine's results?
If I shared my methods, would you be a crap trader if you could not replicate mine?
I'm not picking on you, but it seems you are taking all this too personally.
If there was one single answer on how to make money in FX then there would be no need for forums such as this.
In a way, you are absolutely right. it doesn't matter what imaginary line the price crosses.
All that matters is that you can react to a certain price action, and make money from it.
Wealth comes from what you keep, not what you earn
- #206
- Apr 2, 2015 7:07am Apr 2, 2015 7:07am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
Hi Trader34, thank you for your post ! I completely agree with you, infact I wrote multiple times that I don't believe in this EA to be profitable in the long run (+1 years) for a lot of reasons mostly because it cannot backtested with good accuracy. I just coded it as a challenge to see if Udine's strategy could be automatized , the problem I faced then was that original method posted by him was changed over and over adding multiple indicators, filter and so on, so as you said it's impossible to code the whole strategy because a lot of discrectionary...
It worked out OK for me but ultimately I dropped it. The main reason was that I was just trading my normal (discretional) way within the 00 framework.
Because of the discretional aspect required, I commented to Udine that I doubted it would be viable as an EA. He agreed. That being said, I applaud skyline for his efforts and I look forward to seeing where the project goes next
Code is reusable, and the project may well spawn on to bigger and better things!In more general terms, I think it is very unlikely that the humble masses will ever manage to create a hands-off EA that can consistently make profits over an extended period of time without manual intervention. Doesn't stop us all from trying though
Thanks for sharing skyline
- #207
- Apr 2, 2015 7:24am Apr 2, 2015 7:24am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
{quote} I integrated the 00 method into my trading for a while, back when I was looking for something involving less screen time. It worked out OK for me but ultimately I dropped it. The main reason was that I was just trading my normal (discretional) way within the 00 framework. Because of the discretional aspect required, I commented to Udine that I doubted it would be viable as an EA. He agreed. That being said, I applaud skyline for his efforts and I look forward to seeing where the project goes next
yes I can ultimately add a parameter option that turn on/off placing trades so that this ea could act also as a normal indicator that only alert for potential entries , and will be only users care to place the trades, btw we'll see what future bring to us
Cheers,
Skyline
- #208
- Apr 2, 2015 8:17am Apr 2, 2015 8:17am
- Joined Nov 2014 | Status: Trader | 1,300 Posts
{quote} Hi Honestknave, yes I can ultimately add a parameter option that turn on/off placing trades so that this ea could act also as a normal indicator that only alert for potential entries , and will be only users care to place the trades, btw we'll see what future bring to us
- #210
- Apr 2, 2015 8:33am Apr 2, 2015 8:33am
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
{quote} Funny to see how you jump from system to system, trying them out for about a week, and then make a conclusion its scam. you have been member of FF since December 14, and you have been jumping from system to system, and saying its scam and forex is based on luck. Hope you soon realize that Trading was never made for you.
{quote} Funny to see how you jump from system to system, trying them out for about a week, and then make a conclusion its scam. you have been member of FF since December 14, and you have been jumping from system to system, and saying its scam and forex is based on luck. Hope you soon realize that Trading was never made for you.
{quote} Hi Honestknave, yes I can ultimately add a parameter option that turn on/off placing trades so that this ea could act also as a normal indicator that only alert for potential entries , and will be only users care to place the trades, btw we'll see what future bring to us
That's why by giving an option to make this EA as an indicator to help identifying the possibility of entry will be very useful.
may the green pips be with us in the next trade
t3ric
Always Set Stop Loss !! Trade what you see .... Not what you think !!
- #215
- Apr 2, 2015 2:02pm Apr 2, 2015 2:02pm
- Joined Apr 2006 | Status: Metatrader Programmer | 1,422 Posts
{quote} Jumping from system to system like you are all here
- Happy trading - #219
- Apr 3, 2015 5:54am Apr 3, 2015 5:54am
- | Joined Nov 2012 | Status: Trader | 1,187 Posts
{quote} Hi, @Mariodrugs; I know it has been said, but it's not really fair to say the EA doesn't work. Aside from a couple of glitches which have been/are being resolved it actually seems well coded and performs as it should. I Have run it all this week and (once i remembered to allow DLL imports
Trader34's experience is similar to mine, the system doesn't work for me either and as already mentioned on that thread as well, you need that so called "6th sense" that the successful traders posses to stay away from bad trades.
I congratulate Skyline for his effort of creating an EA based on Udine's 1st post and I'm pleased to be a part of this testing group. Even though I also think that, if u are not able to be profitable manually trading a system, an EA won't change the result, I like the general idea of this program placing trades according to the rules and without any discretion(that us humans get affected). I'm looking forward to the end of the month results and if the results would get as bad as I suppose they will be, this system could prove a great reverse trading idea(placing buy instead of sells with 1:2 RR)