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Price Action Trading with Indicators! The Freebie System

  • #7,841
  • Mar 8, 2016 10:47am Mar 8, 2016 10:47am
My first stack trade with the new EA
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  • #7,842
  • Mar 8, 2016 1:06pm Mar 8, 2016 1:06pm
Quoting Checkz
My first stack trade with the new EA {image}
Have to admit that is truly gorgeous.
  • #7,843
  • Mar 8, 2016 1:41pm Mar 8, 2016 1:41pm
I haven't had a trade on the Daily Demo. The live account is down 26%. Had several small winners and three big losers. Losers always seem to trade at larger lot sizes compared to the winners, it seems.
Jess, about the reverse trade, I think we need to drop it. that is more of a manual thing.
  • #7,844
  • Mar 8, 2016 2:07pm Mar 8, 2016 2:07pm
Quoting keysharp
I haven't had a trade on the Daily Demo. The live account is down 26%. Had several small winners and three big losers. Losers always seem to trade at larger lot sizes compared to the winners, it seems. Jess, about the reverse trade, I think we need to drop it. that is more of a manual thing.
Ive noticed the same thing, even at 1to1 losers are always just a bit bigger then winners.
Seems like partial winners and partial losers are hitting at about the same rate
Just theres always a few full losers and not enough runners, ive got 3 runners right now but 4 or 5 full losers from the last 2 weeks. And the full losers are at full lots while the runners are only half lots so its gotta go 2to1 just to equal a full loss.

I think we need to tweak the MM with this to maximize the winners. I was suggesting earlier to move the SL from BE to maybe %20 profit when the EA is closing half the lots.

Phil
  • #7,845
  • Mar 8, 2016 5:21pm Mar 8, 2016 5:21pm
pp22, I think you are right. Take as much of the profit you can rather than take some and minimize the balance. I am going to adjust that setting.
  • #7,846
  • Mar 8, 2016 9:35pm Mar 8, 2016 9:35pm
Quoting keysharp
pp22, I think you are right. Take as much of the profit you can rather than take some and minimize the balance. I am going to adjust that setting.

Guys I agree. We have had more than enough data to confirm that taking half and setting BE doesn't help since the EA is taking alot of trades and well the risk is there for those losers to appear.

Question, what if we didn't have the EA take any profit and just set it to BE if it hits 50% and then just let it run or just take the full TP?. Look at your charts... see if there would be an improvement on that.

In my case my live account is actually up almost 1%. Some of the demos are up and some are down but there is no big losses. I think all are under 5% either gain or loss. I'll have the number at the end of the week for sure.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,847
  • Mar 8, 2016 9:38pm Mar 8, 2016 9:38pm
Quoting Checkz
My first stack trade with the new EA {image}
Checkz are u using the daily range as TP target? Hmm your setup gives me an idea.... hmmmm
Our AWESOME IMAGINATION is the true holy grail!
  • #7,848
  • Mar 8, 2016 9:49pm Mar 8, 2016 9:49pm
Quoting xmess7
{quote} Checkz are u using the daily range as TP target? Hmm your setup gives me an idea.... hmmmm
Yes I am that way it gives my trade some room once it is set at break even for a retracement that hopefully does not take out my trade allowing it to run for awhile.
  • #7,849
  • Mar 8, 2016 10:12pm Mar 8, 2016 10:12pm
I did a quick check of all the demos I have running and the live account.

In general I have the following

1. Few trades so far on each of the accounts. At most I saw like 8 in one demo. The rest are less than that.
2. The highest loss I am seeing so far is -7.5%. That is one demo and it's the demo that ignores the opposite 3sema detection
The rest I see like 2-3% down.
3. The live Oanda is the only one that is up 1.6%

The Oanda account is set on the H1 TF with PAtternsNoStochs
The one I am interested is in the Oanda Demo. That one I have set the EA to only one pair. I have the inputs set to default with the 3% risk and 50% close lot etc etc. I am interested cause of what I saw last week and for that matter the other weeks is that if stick with one pair you should see either a small loss for the week or a runner that takes it over profit. So lets see what happens

Another thing that we can consider is widening the stop losses. I say that cause on the stocks FxPro demo the EA sets the stops fairly wide and as a consequence price has room to move.

anyhow carry on
Our AWESOME IMAGINATION is the true holy grail!
  • #7,850
  • Mar 9, 2016 2:55am Mar 9, 2016 2:55am
Hi Guys,

Still reading and trying to catch up
I've installed the latest EA and while it does have a few runners, I'm getting a lot of small trades ending up in a loss that eventually, eating up all the profits from the runners.
I'm not at home so I can't post my settings and I guess I've set something up wrong or something.
Can any of you post a set file I can test since the options I've opted for are working and I'm a bit at loss here?

Or a detailed explanation so I may try things on my own, that would be even better then using someone else's set file.



Thanks.
  • #7,851
  • Mar 9, 2016 4:49am Mar 9, 2016 4:49am
Quoting Reamasesa
Hi Guys, Still reading and trying to catch up I've installed the latest EA and while it does have a few runners, I'm getting a lot of small trades ending up in a loss that eventually, eating up all the profits from the runners. I'm not at home so I can't post my settings and I guess I've set something up wrong or something. Can any of you post a set file I can test since the options I've opted for are working and I'm a bit at loss here? Or a detailed explanation so I may try things on my own, that would be even better then using someone else's...
The same here, I have a few runners but all the small losses are adding up A LOT. Which make the runners useless.
Also, what other people commented already. The trades that turn into a loss have a higher lot size compared to the runners.

I just configured the EA to use PatternNoStoch in stead of HA candles.
Besides that everything is more or less default.

So far I can remember Xmess would also create a video that explains the EA v13 options more in detail. A video for people who are not familiar with the EA.
The strategy itself is explained on page 1-2.
  • #7,852
  • Mar 9, 2016 8:40am Mar 9, 2016 8:40am
Reamasesa, lakoenza:

There is nothing wrong with your setups. This is the very thing we are dealing with right now. The results u see have to do with the TimeFrame and number of attempts the EA produces.

It's not so much that the losses "eat" up the profit, it's the combination of these factors:
1. When a runner appears it is only carrying half the lotsize.
2. A couple of FULL STOP losses add tremendously to the small losers.

So here are a couple of things we are testing this week.

1. Shift to a higher TF (Some of us are trying H1 and D1)
2. Setup all the default inputs and only apply it to 1 pair at the 15min TF
3. Set your target profit to something higher (instead of 1to1 try 1to3 or useDailyAverage
4. Set your SL and TP manually and set them to be wider. You would set those inputs to something greater than say 50 pips

Another thing you can do is let the EA run as you have it now.
Then at the end of the week examine the trade history and look at the number of trades/losers/winners and see how you could change stuff to get the losers down.

Anyhow the end of this week we'll have several reports on how some of the stuff we changed turned out.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,853
  • Mar 9, 2016 10:02am Mar 9, 2016 10:02am
I am running the EA on H1 timeframe on many pairs: EURUSD, GBPUSD, AUDUSD, USDJPY, EURGBP, EURJPY, USDCHF, GBPAUD, USDCAD, GBPJPY
I've set it to PatternsNoStoch, 3to1, _3sma, UseDailyAverage.

In my opinion price action work on all pairs, stocks and metals. Thats the reason why I have set it to so many pairs.
I do believe that supply and demand can be a great addition to the strategy
  • #7,854
  • Mar 9, 2016 10:39am Mar 9, 2016 10:39am
Hello among the external variables it would be possible to add the setting of the zzsemafor discs? I noticed that most of the loss is caused by the discs 1 and 2.
  • #7,855
  • Mar 9, 2016 10:43am Mar 9, 2016 10:43am
Quoting lakoenza
I am running the EA on H1 timeframe on many pairs: EURUSD, GBPUSD, AUDUSD, USDJPY, EURGBP, EURJPY, USDCHF, GBPAUD, USDCAD, GBPJPY I've set it to PatternsNoStoch, 3to1, _3sma, UseDailyAverage. In my opinion price action work on all pairs, stocks and metals. Thats the reason why I have set it to so many pairs. I do believe that supply and demand can be a great addition to the strategy
lakoenza:
No problem, lets see if your approach works. It may be the key to trading the H1 .
I am more of the trade less and you expose less. Thereby your risk goes down significantly. That way when u do get a runner, all losses are easily forgiven LOL.

Ok guys I found an indicator that seems to be real good at drawing support/resistance lines. As it stand it draws 3 resistance and 3 support lines per timeframe. Visually it looks real good, in other words, if I where to of drawn them manually I would of gotten the same results. However, I am going to compare this to what I saw in Strats thread and see if I can use this indicator code to emulate what is done to draw the support/resistance lines as they there. Why Strats thread? Cause they are kranking pips and the main thing is how they draw the support/resistance lines and it is not 3 sup/3 resis.

I mentioned James16 earlier I really meant to say Strats Stress Free Trading Thread.

So with that said. Please give me some info on how we would use the supply/demand stuff. I really don't pay attention to these things that much cause I keep thinking that all those lines are to subjective. One persons draws supply at one level and another person draws supply at a different level even though both are using the same data.
Our AWESOME IMAGINATION is the true holy grail!
  • #7,856
  • Mar 9, 2016 11:26am Mar 9, 2016 11:26am
Usd/Cad ran for awhile then I got stopped out. Oh well It was fun to watch.
  • #7,857
  • Mar 9, 2016 11:58am Mar 9, 2016 11:58am
Quoting Checkz
Usd/Cad ran for awhile then I got stopped out. Oh well It was fun to watch.
Checkz: how far did it run before it got stopped out?
Our AWESOME IMAGINATION is the true holy grail!
  • #7,858
  • Mar 9, 2016 12:14pm Mar 9, 2016 12:14pm
Quoting Checkz
Usd/Cad ran for awhile then I got stopped out. Oh well It was fun to watch.
Hers an interesting thread for S/R
Its fairly short and I believe they are referring to dreadding at some points in the thread, as the system the OP is using is similar to what were doing

Support and Resistance Method - Pharley
http://www.forexfactory.com/showthread.php?t=551541
  • #7,859
  • Mar 9, 2016 12:27pm Mar 9, 2016 12:27pm
Quoting xmess7
{quote} Checkz: how far did it run before it got stopped out?
Dang my NZD/USD 100+ pips runner just got stopped out at BE
Still got 2 runners open, but more losses piling up
AUD/USD H1 buy from 0.7164
WTICO/USD H4 buy from 33.446

Atleast those 2 are 300+ pips
If I were to close those out right now the account would be up 1% from the last 2 weeks.
  • #7,860
  • Mar 9, 2016 12:29pm Mar 9, 2016 12:29pm
Quoting xmess7
{quote} Checkz: how far did it run before it got stopped out?
I'm not sure. I was stopped out while I was sleep plus I had another trade going that produced a profit. I started to close it out before I went to sleep but I left it open since I had trades at BE.
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