Trapping System: Grid

OK, first of all, I'll give you insights of what was happened yesterday on my accounts.


I'm still confused with the unusual movement at 3:30am SGT. That time is the time where reaching closure of the current day, and about to reach the next day trade. It is not usual, since this kind of movement sometimes happen only in Friday, but Wednesday??

If you notice, some brokers will increase the leverage (say from 1:500 to 1:100) at the last hours in Friday. Some people are taking advantages of the gap during Friday to Monday. So, before closing time at Friday, sometimes market moves rapidly for a very short time. Either move against the trend or follow the trend. Kind of odd why broker would want to increase the leverage. A different story with my broker, they didn't increase the leverage, but the spreads.

So, for all of my account, the movement are same stuck in buy position.
I saw @jonirrenicus' fibo, and it did touches, from that point I expect a retracement. But too bad, it didn't touch 1.09440 or 1.09450 as I expected. It was just until somewhere in 1.09350. Then it continues...
At this point I don't want to watch chart too much, because I may get too emotional and take the wrong decision. So, I took a snapshot at 00:00am before I slept, and it reaches somewhere in 1.08750. I feel the price was too exhausted to go more down, and hope that the next morning will be reaching at least 1.08870.

It did reach further than that, and the BOX (http://www.myfxbook.com/members/radi...-cents/1429980) managed to close in profit. But not with GTLIMITEURUSD2 (Live Cents) above. I do expect it can reach at least 1.09190 so I can close it off for yesterday's madness.

Another story with BOX (account that I've been using for donation), it is actually slightly different than GTLIMITEURUSD2. It has Current Price Interval of 35 points, and Grid Step of 35 points, but the lot size is quarter of GTLIMITEURUSD2. This is done by dividing the GTLIMITEURUSD2 lot size to half of it which is at 0.000035 (instead of 0.00007). Since I made the Grid Step tighter (35 points instead of 75 points), I divided again the lot size, which is now at 0.0000175.

At this point, my conclusion is still same, nothing wrong with the strategy. You see why I can take that conclusion?
If you look further to GTLIMITREBOOT, it actually acts like nothing happened. GTLIMITREBOOT still act like normal, and the losses was not too dissapointing. And it did managed to close the same level as in BOX account. It was also managed to close 1 cycle yesterday before dragged into the same situation.

Out of the curiosity, I still hold this principle. Let us take out red high impact news off the table. Whenever the market move even when we feel too steep, it will still retract back a little bit. With LIMIT strategy, the more it moves to the other side of the grid, the break-even point will also move. This "retract back a little bit" is where we want to take the profit. Now the question is, how big we want to put the lot size and grid step? How large is the losses we want to take until it retracts back? How far can it go?

No "the three musketeers" news the next day (interest rate, FOMC, or NFP), so I think it will be fine if I let the "madness" continue and take a look at it the next day which is today.

As I told you before, I need to review GTLIMITEURUSD2. I guess I'll present you with the various set file, low risk, medium risk, and high risk. With this situation, I now will consider GTLIMITEURUSD2 is a med-high risk set file.

Be mindful that I haven't started a large scale investment yet. All you see is just cents account, small sized. I'm still in the stage of observing the risk with cents account. So, losses is still acceptable to me. But of course I don't want it to happen on BOX, so we still can continue to donate through it.

Aww... cool.
The moment I wrote that long post, GTLIMITEURUSD2 is closed in profit just a few minutes ago.

Is the take profit and stop loss in pips or in points?

In the status box after I attached the EA to the chart
I noticed the word 'CP'
what does CP stands for?

Hi,
If I want a fixed $2 take profit target.

Where do I enter that information in the setting?

Hi, sorry for the late reply.
Take profit is not in points neither in pips. It's in account currency, and all opened orders will be considered as 1 take profit (basket trading). So, you may see some trade in loss and profit. but the EA will calculate the whole chunk of opened orders created by this EA.

Take profit fixed $2, you set the Target Type as Fixed, then set Target Profit to 2.

CP is current profit.

I noticed version 2.0 on your website, is that a stable version?
or is version 1.8 the stable version?

What chart time frame does the default setting works best on?
5 minute chart, 15 minutes chart, ect ???

I noticed you are using a cent account to test this EA on.
I've never use roboforex before, so I have no idea what a cent account means.

I noticed you started with $50,712
is that in dollars amount or in cent as in 50,000 cents ?

2.0 is in development, definitely not stable and buggy. Use the v1.9 one.

v1.8 and v1.9 there's no much difference, except the fix to max cycle bug. Since I'm not using it, either versions are OK.

No timeframe related. Why?
Because there's no trend detection logic.

$1 = $100 in cents.

Basically cents is same like micro accounts. Only thing is that Micro, the balance, lot size, everything are same except the contract size is 10,000 units.
While in cents, contract size is same like standard account which is 100,000 units but your balance will be multiplied 100x times.
So, risk-wise, both are same. Just that you'll see the balance differently.

My MT4 strategy tester journal showing:
OrderClosed error 4108

what is it? and why is it showing that?

Hi Guys,
I think I may want to slow down a little bit. I know this week is quite stormy plus with earthquake, all accounts are affected. I do hope current state of your account is closed with profit. Unless you started with manual, then I can't tell whether you still have open order or not.

Tonight I'm going to stop trade for a while, and continue the rest next week or next year.

As I informed earlier, I announce GTL_EU2 and GTLIMITEURUSD2 is considerably mid-high risk set. This is due to the last night event where it managed to trend in the early of the day straight through until the next day's opening, a perfect block-filled bearish candle.

I'm going to release a few set file for your consideration. As of now, only produced 2 set file, which is based on GTLIMITREBOOT on my trade explorer. This GTLIMIT REBOOT is still using v1.4, quite old. So, I've translated into v1.9 set file.

GTL_EU_LOWRISK_A ► Lot size is 0.02 per $1000 (0.00002), target $10 per $1000 (0.01), Stop Time is at 02:00am GMT or 10:00am SGT.


GTL_EU_LOWRISK_B ► Lot size is 0.03 per $1000 (0.00003), target $15 per $1000 (0.015), Stop Time is at 02:00am GMT or 10:00am SGT.


_B can withstand until 25 orders straight if it's trending, while _A can stand until 32 orders straight if it's trending. Last night's was until 14.

If you would want more tight grid, cut by half the grid step and lot size.
I'll post another for medium risk and high risk later.

Happy Holiday to all of you!

what does that mean?
EA never open orders. EA always place pending orders.

Version 1.9 have

OrderSend error 130

why?

Thank you for all your efforts.

Is it possible to show a colored target profit line that changes when more limit orders are recruited?
Regards.

Hi everyone.

Can I ask you all a favor? Can you please not trade live for the next 2 weeks? we are right now in the worst market conditions. I would not like you to be dis-heartened from this project by large losses, 1 of which you have just narrowly avoided. Middle of January is when more traders start to participate in markets and make them more regular.

Happy Christmas to all!

Hi Rad, during last cycle I saw the equity drawdown was more than 40%, near the 50% default stop loss, is it correct?

Could you calculate (approximately) the equity drawdown we would see in a similar condition with GTL_EU_LOWRISK_A ?

Thank you and happy holiday!

Status of my demo accounts after the unexpected move on both Tuesday and Wednesday *sniff* :-



Live account busted after i tried having it hedged. I should have closed off a short at the very bottom but i was asleep at the time and i paid the price ultimately *sigh*..



All is not lost though, i had withdrawn my 10$ before the account went bust so no loss as such. i lost the bonus nevertheless which is quite sad.

Zz

Will be forward testing these from the coming year onwards. Makes more sense to start off at the beginning of the year than risk some sudden end of month/year movements.

Zz

Please note that the unit is in points, not in pips.

If you happen to have 4 digits currency pair (for example: your current price is something like 1.0976), then you have to divide all points configuration by 10. Usually this is for Grid Step, or Current Price Interval. There're another configuration also which is based in points. Please read at the documentation.

Your error 130 is most likely related to the set file that you've used. All set file I've distributed is for 5 digits. I hope you got sometime to read all the thread here, or you may want to read the documentation or Frequently Asked Questions (FAQ).

Talking about risk and drawdown, let us see the multiplier for lot size.
For GTLIMITEURUSD2 is 0.00007, while GTL_EU_LOWRISK_A is 0.00002. So, the same situation, drawdown should be 28% less than the GTLIMITEURUSD2, or about 14%.
But that's just my raw calculation of course. It can increase more if the situation like yesterday worsen, but still can hold for more positions, better than GTLIMITEURUSD2.

I'm very sorry for your loss, bro.
My GTLIMIT REBOOT is still working on until now. Is there any changes on your settings?

I'm quite sad and confused with the previous situation. But I always thought the same, no major high impact news, price is on major trend, that means it would also lead to retracement. But if you face a trend due to change of interest rate, NFP or FOMC, we can't save it. It may move to another price level after that and there's no chance of any retracement.
That's so far my humble opinion.

Hedging...
It was never my first option to save the situation.

Because I believe the trend was just too foolish and confusing. News said there's a news ahead, but USD is at the better price for the day. Another news says, data on US is mixed, but the USD is stronger. So, that time (to be honest) my feeling was mixed and confused. Want to save the situation, playing hedge same as slianto said, but my little heart says "no". So, I closed my MetaTrader 4 mobile and slept.
The next morning, the price I saw before sleeping is the lowest point before retracting.

So,
Let us play with various settings, and would like to ask people to start testing it. GTL_EU_LOWRISK_B is much more like GTLIMIT_REBOOT. I have adjusted the settings to be compatible with v1.9.

Until now, I haven't play with large amount investment, still with less amount. I just don't quite comfortable yet. Even if I do, I would play with GTLIMIT_REBOOT settings, not with GTLIMITEURUSD2.