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trend catching with NonLagDot indicator

  • #301
  • Edited 5:43pm Jan 2, 2016 5:30pm | Edited 5:43pm
This error has to be corrected and I apologise for the inconvenience.

WagerLots = WagerLots / StopLoss * 100 / AccountLeverage() ;

should be

WagerLots = NormalizeDouble(WagerLots / StopLoss * 100 / AccountLeverage() * 100,2);
Attached File(s)
File Type: mq4 NonLagDotEA.mq4   15 KB | 430 downloads
  • #302
  • Edited 6:21pm Jan 2, 2016 5:54pm | Edited 6:21pm
@SmoothTrader

Thx for your intriguing results !

I'm a bit surprised: So, you got the best results using at the daily TF only uncommon 10...50 pips SL ? Usually someone would say: use at the daily SLs like 100...200 pips or so. Did you test higher numbers for the SL's and have the results been worse ? And yes: another surprise - the daily TF is the best choice ....
  • #303
  • Jan 2, 2016 7:16pm Jan 2, 2016 7:16pm
Quoting DerBerliner
@SmoothTrader Thx for your intriguing results ! I'm a bit surprised: So, you got the best results using at the daily TF only uncommon 10...50 pips SL ? Usually someone would say: use at the daily SLs like 100...200 pips or so. Did you test higher numbers for the SL's and have the results been worse ? And yes: another surprise - the daily TF is the best choice ....
The range of SL's that were tested ranged from 10 pips to 50 pips, and the range of TP's were from 20 pips to 400 pips. With that in mind, if someone wanted to test with higher SL's from 50 to 200 pips and share the results with the forum, I know it would be greatly appreciated by many. I have laid the groundwork with the lower SL's so hopefully that would make it easier for that person who wants to pick up the ball and run with it at the higher SL's.

GREEN pips come to those that help themselves.
  • #304
  • Edited 1:26am Jan 3, 2016 12:58am | Edited 1:26am
Following on from my previous discussion about money management, I'd like to highlight a few points about risk expressed as a percentage of equity. After discussion with SmoothTrader, I have amended the determination of Lot Size to include an allowance for the size of the Stop Loss.

A simple example is possibly the best way to illustrate.

Assuming your base currency is EUR (that is the currency which you use to trade) and a trade is made on EURUSD.

If you were to risk 2% of your capital (say EUR1000) in a trade with a stop Loss of 100 pips and a gearing level of 100:1, the lots purchased would be .02 That is if your trade was to hit your Stop Loss of 100 pips you would have a loss of EUR20

If you were to risk 2% of your capital (say EUR1000) in a trade with a stop Loss of 10 pips and a gearing level of 100:1, the lots purchased would be .2 That is if your trade was to hit your Stop Loss of 10 pips you would have a loss of EUR20 (the same amount lost)

So it follows that your wager will be greater with a smaller stop loss because you are taking less risk and this is the way that the Lot Size is now calculated in the EA. Smaller Stop Losses will result in larger wagers.

However we have a potential problem with Brokers accepting Stop Orders because at the time of the order, whilst a lot size is determined by the size of your required Stop Loss, at the time of the order that is not known by the Broker and a trade may not be accepted if the Lot size is too high and that is why I have imposed the arbitrary limit of 20% of Equity Value as the amount risked in a single trade.

Whilst it is generally accepted that the maximum risk per trade should be 2% of equity, be mindful that there are 2 factors possibly affecting lot size.

1. Your base rate against the first currency of the pair being traded if your pair is the second of the pair.
2. Your base rate against the first of the currency pair if your base currency is not part of the pair being traded.

To keep this all in perspective in accurate lot determination whilst backtesting, I have had to include a nominated rate for the second consideration above, since you may not have a rate available as a lookup in testing previous bars. This rate will always default to 1 if not amended. As an example, if I am backtesting EURUSD with AUD as my Base currency, I nominate a figure of .6700 (an approximation) noting that AUDEUR is not available so I have to divide 1 / EURAUD.

If you find all this a little confusing, just manually nominate your fixed lot size. Sound money management techniques can really have a major effect on your profitability and that is where an EA is really takes the emotion out of your trade decisions.

An amendment to the EA is enclosed and I look forward to any feed back.
Attached File(s)
File Type: mq4 NonLagDotEA.mq4   15 KB | 542 downloads
  • #305
  • Jan 3, 2016 2:15am Jan 3, 2016 2:15am
Quoting Dave_C
If you were to risk 2% of your capital (say EUR1000) in a trade with a stop Loss of 100 pips and a gearing level of 100:1, the lots purchased would be .02 That is if your trade was to hit your Stop Loss of 100 pips you would have a loss of EUR20
If you were to risk 2% of your capital (say EUR1000) in a trade with a stop Loss of 10 pips and a gearing level of 100:1, the lots purchased would be .2 That is if your trade was to hit your Stop Loss of 10 pips you would have a loss of EUR20 (the same amount lost)

So it follows that your wager will be greater with a smaller stop loss because you are taking less risk and this is the way
Dave, not to be picky or pedantic, but is this a typo or a failure in my understanding? that is the highlighted text

By "wager" I believe you mean Position Size or Lot Size; I understand how that works, pretty simple, large stop loss = small lot size, small stop loss = large lot size. But the risk remains the same as you mention in the first 2 paragraphs.

Thanks, John
It takes a lot for me to IGNORE you, but you can try.
  • #306
  • Jan 3, 2016 2:37am Jan 3, 2016 2:37am
Quoting Erebus
{quote} Dave, not to be picky or pedantic, but is this a typo or a failure in my understanding? that is the highlighted text By "wager" I believe you mean Position Size or Lot Size; I understand how that works, pretty simple, large stop loss = small lot size, small stop loss = large lot size. But the risk remains the same as you mention in the first 2 paragraphs. Thanks, John
​The highlighted text was 100 pips v's 10 pips. Lots purchased .02 v's .2

Hope that helps.
Regards
Dave
  • #307
  • Jan 3, 2016 2:46am Jan 3, 2016 2:46am
Quoting Dave_C
{quote} ​The highlighted text was 100 pips v's 10 pips. Lots purchased .02 v's .2 Hope that helps. Regards Dave
It doesn't really, as I said, I understand the concept of Position Sizing, no need to restate it here & now.

It is the statement made thus " because you are taking less risk " that I am enquiring about; I can't make it any more clear; how is the risk less?

Thanks, John
It takes a lot for me to IGNORE you, but you can try.
  • #308
  • Jan 3, 2016 2:52am Jan 3, 2016 2:52am
Quoting Dave_C
The free giving is what inspires us on these forums and I wanted to acknowledge the huge amount of effort and time that has been expended to produce this spreadsheet which can be downloaded above with thanks to SmoothTrader. {image}
What is your logic behind SL levels you used for backtest? How can SL on daily be 15 pip while on M30 it was 45?
According to my experience, the best fix SL value is 3xATR. Which means that for EURUSD it would be 40-45 pip on M30, 55-60 pip on H1, 120-140 pip on H4, and 340-360 pip on D1. Accordingly also TP levels are increasing from TF to TF in correlation with SL.
  • #309
  • Jan 3, 2016 2:54am Jan 3, 2016 2:54am
Quoting Erebus
{quote} It doesn't really, as I said, I understand the concept of Position Sizing, no need to restate it here & now. It is the statement made thus " because you are taking less risk " that I am enquiring about; I can't make it any more clear; how is the risk less? Thanks, John
You are taking less risk in that you will get closed out earlier in the progression of the trade and the EA will now be open for further trades.

Please if you don't understand that, PM me and I will help.
  • #310
  • Jan 3, 2016 3:24am Jan 3, 2016 3:24am
Isn't this thread meant for discussing the system. Please stop talking about the shitty ea which doesnt work and will mever work. Open a thread somewhere else with other dillusionals.
  • #311
  • Jan 3, 2016 3:50am Jan 3, 2016 3:50am
Quoting Lebaneese
{quote} perfect questions EV. For lot size u are absolutely right that lot size should be adjusted but I answered that before it was hard to controlled it with different lot specially if trading low TF like M30, that's why I trade it all same lot size now, and when trading basket trade u will be safe even with different % risk. The key of the system is to take all SIGNALS for ALL PAIRS, u cant choose your trades. For TP I don't set fix TP I keep them all open until it hit my target or I close them before going to bed and take next day signals. For...
So are you saying you hit your target every week you traded 4 hr last year? Same goal of $1000 a week?
  • #312
  • Jan 3, 2016 1:31pm Jan 3, 2016 1:31pm
Hi Dave C,
Do you have an indi that will open a trade with lot size, stop loss and take profit all at once. Off course the trader will manually insert all this into the indi and change the information if and when the need arises.

Thanks and happy trading.
  • #313
  • Jan 3, 2016 1:32pm Jan 3, 2016 1:32pm
Hi Labaneese,

Thanks for sharing your simple trading method.
Will give it a try and share results here.

Happy trading.
  • #314
  • Jan 3, 2016 2:57pm Jan 3, 2016 2:57pm
[quote=forexday;8669022]Hi Dave C, Do you have an indi that will open a trade with lot size, stop loss and take profit all at once. Off course the trader will manually insert all this into the indi and change the information if and when the need arises. Thanks and happy trading.[/quote

​Try these links

https://www.cashbackforex.com/en-us/...aspx?ItemId=21
https://www.cashbackforex.com/en-us/...aspx?ItemId=22
  • #315
  • Jan 3, 2016 6:38pm Jan 3, 2016 6:38pm
Quoting bloodpoodle
will work in trending market.. Horrible system in sideways chop! False signals will eat you alive in chop!
Totally agree, sure feel sorry for those aspiring TREND Catching Traders, never going to work
Attached Image (click to enlarge)
Click to Enlarge Name: 4-01-2016 10-34-30 AM.png Size: 35 KB
It takes a lot for me to IGNORE you, but you can try.
  • #316
  • Jan 3, 2016 11:29pm Jan 3, 2016 11:29pm
Quoting Anusragger
Isn't this thread meant for discussing the system. Please stop talking about the shitty ea which doesnt work and will mever work. Open a thread somewhere else with other dillusionals.
If you are referring to the "NondotlagEA". You could not be further from the truth. Early days yet but results are great so far.
Look Left Trade Right
  • #317
  • Jan 4, 2016 12:11am Jan 4, 2016 12:11am
Quoting Basill
{quote} If you are referring to the "NondotlagEA". You could not be further from the truth. Early days yet but results are great so far.
Al the more reason to start a new ea dedicated thread!
  • #318
  • Jan 4, 2016 3:52am Jan 4, 2016 3:52am
Hi Dave C,
datetime LastDateTime=0;
//+------------------------------------------------------------------+
//| Start function |
//+------------------------------------------------------------------+
void start()
{
CalculateCurrentOrders();
if (LastDateTime != iTime(NULL,0,0)) CalculateDirection();
LastDateTime = iTime(NULL,0,0);
if (stopbuys == 0 && stopsells == 0 && buys == 0 && sells == 0) CheckForOpen();
if (buys != 0 || sells != 0) CheckForModify();
}
//+------------------------------------------------------------------+
//| Calculate Direction |
//+------------------------------------------------------------------+
void CalculateDirection()
{
NLD2 = iCustom(NULL,0,"nonlagdot",0,Length,0,0,1,0,0,0,2);
NLD1 = iCustom(NULL,0,"nonlagdot",0,Length,0,0,1,0,0,0,1);
if(NLD1 > NLD2) Direction = 1;
if(NLD1 < NLD2) Direction = 2;
if(Direction != PrevDirection) DeleteStopOrders();
PrevDirection = Direction;
}
  • #319
  • Jan 4, 2016 6:05am Jan 4, 2016 6:05am
Quoting Dave_C
Following on from my previous discussion about money management, I'd like to highlight a few points about risk expressed as a percentage of equity. After discussion with SmoothTrader, I have amended the determination of Lot Size to include an allowance for the size of the Stop Loss. A simple example is possibly the best way to illustrate. Assuming your base currency is EUR (that is the currency which you use to trade) and a trade is made on EURUSD. If you were to risk 2% of your capital (say EUR1000) in a trade with a stop Loss of 100 pips and a...


Hello Dave_C , Thanks for your effort to make EA for this system. I'm going to test the EA on demo account,
Does it need any indicator? or platform? and also which time frame is suitable for the EA?
thanks in advance
  • #320
  • Jan 4, 2016 10:11am Jan 4, 2016 10:11am
Next week I will start back trading.
For now I will post today trades.
EU
Attached Image (click to enlarge)
Click to Enlarge Name: EU.png Size: 79 KB
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