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Yen Trader

  • #1,061
  • Sep 20, 2016 9:24am Sep 20, 2016 9:24am
Quoting BoHanna
{quote} What I meant is adjust the lot size from .01 to .1 and you will see a %100 increase in profit. Approx. $200 per trade on $10K account.
Hi, what's your signal timeframe?
  • #1,062
  • Sep 20, 2016 9:06pm Sep 20, 2016 9:06pm
Quoting earmarques
{quote} Hi, what's your signal timeframe?
30min and 1hr higher timeframe
  • #1,063
  • Sep 24, 2016 2:25am Sep 24, 2016 2:25am
Quoting BoHanna
v6.44, used slightly different pip setting. More than twice profit as previous post with same small deposit. Very budget friendly EA, wouldn't you say? Please let me know when u get better results. I'm gonna test ATR now. By the way, if nobody shares results, I will discontinue sharing as well. Thanks in advance and Trade well! BoHanna {image} {image} {file}
Hi BoHanna,
Please share your .set file
  • #1,064
  • Sep 24, 2016 2:45am Sep 24, 2016 2:45am
Quoting dagoods
Perhaps please consider to make a version of your tool that uses the USD rather than the Yen. Having both may offer very high probability trades. For example if Usd is strong against the Yen Plus all or most other pairs and Pound is Weak against the Usd et. al. Pretty simple idea really, but since USD is a benchmark perhaps it should be far superior in performance, considering both sides of the whole picture. Seekin goportunities for trading cross pairs would be the goal. for example GJ, EJ etc.. It would be like the double gap on seroids. Just...
Cross Trader is using the Majors (USD pairs) to trade the Minors (non-USD pairs).
For example when the EA is attached to EURGBP (minor) it will trade it based on both EURUSD and GBPUSD (majors), when EURUSD is UP and GBPUSD is DOWN a Buy is triggered, when EURUSD is DOWN and GBPUSD is UP a Sell is triggered, when both are UP or DOWN no trade is taken.

Don't get confused by the first EA and Thread name (Yen Trader). The original versions (named Yen Trader) are using the same concept but were limited to Yen Crosses, while the later versions (named Cross Trader) trade all crosses including Yen crosses.
No guts, no glory
  • #1,065
  • Edited 3:06am Sep 24, 2016 2:54am | Edited 3:06am
Quoting BoHanna
{quote} Abokwaik mentiond on page 45, #post 893, that he is considering a "Majors Trader" similar to Cross Trader. Maybe that is same idea you are thinking of? BoHanna
Actually the Major Trader will not be easy to implement.

For example if we want to trade GBPUSD, which crosses should we consider ?
All GBP Crosses : EURGBP, GBPJPY, GBPAUD, GBPCAD, GBPCHF, GBPNZD.
and All USD Crosses (which happen to be majors themselves) : EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, USDCHF

Now should we compare each related crosses : EURGBP x EURUSD, GBPJPY x USDJPY ... etc.

or we take the whole currency basket ?

both options will require a smart scoring system.

it is very interesting to test, but requires a lot of work.
No guts, no glory
  • #1,066
  • Sep 24, 2016 3:05am Sep 24, 2016 3:05am
Quoting AKCodingEye
Another nice EA from Abok. EA is not something that you set and forget. It needs manual intervention all the time in order to make most out of it. I am testing this EA since some time and analysing result daily and weekly. It's impressive result so far. 1) I am seeing draw down because of high impact news (ISM,NFP) like other reported too. I have two deeper dips because of ISM and NFP. 2) No Trade before 9am on Monday and After 12 on Friday would make difference too. All filter it needs when not to trade now and manage during news time or stay out...
I totally agree with your 2 notes, specially the news filter.
As one thing leads to another, the news filter let me dig deeper into news trading, which deviated my interest from the cross trader at least until I finish the news expert which I believe will be extraordinary.
No guts, no glory
  • #1,067
  • Edited 9:20pm Sep 24, 2016 8:39pm | Edited 9:20pm
Such a good EA
Regards
  • #1,068
  • Sep 25, 2016 10:30am Sep 25, 2016 10:30am
Quoting abokwaik
*** UPDATE July 25th, 2016 *** *** Starting from post#528 Yen Trader evolved into Cross Trader *** where system idea is applied to all crosses, not only yen crosses {image} Pairs : XXXJPY, where XXX is one of the major currencies (except USD which will be used as a reference currency). Time Frames : H1, H4, D1 Simple Method If XXXUSD is UP and USDJPY is UP --> BUY XXXJPY. EXIT when either XXXUSD is DOWN or USDJPY is DOWN. If XXXUSD is DOWN and USDJPY is DOWN --> SELL XXXJPY....
It can work, however should be excluded when major news come out and during Asian session.
  • #1,069
  • Sep 25, 2016 7:03pm Sep 25, 2016 7:03pm
Quoting radadiya
{quote} Hi BoHanna, Please share your .set file
You can download the text file posted on page 49. Same page that u quoted me from. As I said before the trades are not frequent but since most are trading so many pairs it shouldn't matter because when it trades it usually wins. Consider it a bonus for your patience
  • #1,070
  • Edited 7:43pm Sep 25, 2016 7:27pm | Edited 7:43pm
Quoting abokwaik
{quote} Actually the Major Trader will not be easy to implement. For example if we want to trade GBPUSD, which crosses should we consider ? All GBP Crosses : EURGBP, GBPJPY, GBPAUD, GBPCAD, GBPCHF, GBPNZD. and All USD Crosses (which happen to be majors themselves) : EURUSD, USDJPY, AUDUSD, NZDUSD, USDCAD, USDCHF Now should we compare each related crosses : EURGBP x EURUSD, GBPJPY x USDJPY ... etc. or we take the whole currency basket ? both options will require a smart scoring system. it is very interesting to test, but requires a lot of work.
" ... etc. or we take the whole currency basket ? both options will require a smart scoring system." That's where u come in A smart guy to figure out a smart scoring system. Take your time and simply tell yourself before you go to bed at night to find a viable solution (like a silent prayer) and let your subconscience take over. Then one day soon you will wake up from a pleasant dream and say "AHAA! I got it!". Just try to keep a pen and paper on the nightstand or laptop nearby because it happens very unexpectantly (epifany). By the way... Good to see you again.

BoHanna
  • #1,071
  • Sep 26, 2016 11:08pm Sep 26, 2016 11:08pm
Quoting BoHanna
{quote} " ... etc. or we take the whole currency basket ? both options will require a smart scoring system." That's where u come in A smart guy to figure out a smart scoring system. Take your time and simply tell yourself before you go to bed at night to find a viable solution (like a silent prayer) and let your subconscience take over. Then one day soon you will wake up from a pleasant dream and say "AHAA! I got it!". Just try to keep a pen and paper on the nightstand or laptop nearby because it happens very unexpectantly (epifany). By the way......
Thanks BoHanna, and thank you for your good contribution to this thread.
I've been so busy (outside forex) the last 3 weeks and probably another week. Hopefully I will start to have some free time that I can allocate to forex starting mid of next week.
No guts, no glory
  • #1,072
  • Sep 26, 2016 11:17pm Sep 26, 2016 11:17pm
One major pitfall of CrossTrader is profit taking.

Yesterday trades reached a profit peak of 10% before going down to -2%.
No guts, no glory
  • #1,073
  • Edited 11:41pm Sep 26, 2016 11:21pm | Edited 11:41pm
I've been working on a new profit taking technique that I plan to apply to my systems including the CrossTrader.

Profit Taking Techniques (applies to all EAs).

1. Single Pair : Take partial profit on each new low break (for sell trades) and on each new high break (for buy trades).

This technique assumes that each new low/new high could become support.
Highs and Lows will be determined using ZigZag indicator.

Number of profit taking levels can be set as input parameter, along with the starting point of profit taking (i.e. on 1:1 RR).
So for example if we set the levels to 10, and the lot size was 0.65, and SL is 50 Pips.
The EA will start to take partial profits after the price moves over 50 pips in our favor.
1st close : 1 tenth of the original lot size (0.06).
2nd close :1 tenth of the remaining lot size. (i.e. remaining lot size = 0.65 - 0.06 = 0.59) so 0.06 will be closed (rounded).
3rd close :1 tenth of the remaining lot size. (i.e. remaining lot size = 0.59 - 0.06 = 0.53) so 0.05 will be closed (rounded).
4th close :1 tenth of the remaining lot size. (i.e. remaining lot size = 0.53 - 0.05 = 0.48) so 0.05 will be closed (rounded).
5th close :1 tenth of the remaining lot size. (i.e. remaining lot size = 0.48 - 0.05 = 0.43) so 0.04 will be closed (rounded).

And so on ...

At the end of the profit taking levels, the remaining position can be trailed until stop.

Partial Profit is taken When price breaks the previous zigzag low (for sell) or high (for buy) .

By using ZigZag as profit taking trigger the EA will be closer to Price Action and utilize dynamic profit levels instead of rigid ones.
No guts, no glory
  • #1,074
  • Edited 11:59pm Sep 26, 2016 11:45pm | Edited 11:59pm
Profit Taking Techniques (applies to all EAs).

2. Basket :

This is a bit complicated.

In Basket profit taking, some trades could be in loss while other trades are in profit.
So do we close partial positions from both types, or profit ones only ?

What about treating the basket as one pair ?

I choose to treat the basket as one pair.

Issues with basket profit taking:
1. Trades are opened at different times, and continue to open regardless wither the basket is in profit or loss.
2. No chart for the basket to apply indicators like zigzag.

Basket profit taking can start when we reach 1:1 RR on the whole basket (regardless of individual trades).

Then we start to track peaks and valleys on current P/L, something similar to zigzag.

For the basket we will not use individual trades TP/SL. For this method the EA should be running 24H.
For example, if the calculated basket 1:1 RR is 5%. Note that with each new order opened this value will change.
We wait until 5% is reached, and we start to track fluctuations on profit %. Suppose we set partial profit on each additional 1% increase on profit up to 10 levels.
So once profit reaches 6% we close 1 tenth of all positions (regardless in profit or loss).
We continue to do that on each 1% increase on equity.
The last remaining positions , after 10 levels are completed, can be trailed at 1%.
No guts, no glory
  • #1,075
  • Sep 27, 2016 12:21am Sep 27, 2016 12:21am
Sounds like a plan to me. Go for it. A lil profit here and there instead of waiting for entire closure couldn't hurt.

BoHanna (sleep on it)
  • #1,076
  • Sep 28, 2016 12:56am Sep 28, 2016 12:56am
Quoting abokwaik
One major pitfall of CrossTrader is profit taking. Yesterday trades reached a profit peak of 10% before going down to -2%.
Same story repeated yesterday where profit reached 8.5% before retreating to -4%.

Clrealy the EA has a very good max return to max draw down. The edge would be on the exit.
No guts, no glory
  • #1,077
  • Sep 28, 2016 2:53am Sep 28, 2016 2:53am
Quoting abokwaik
{quote} Same story repeated yesterday where profit reached 8.5% before retreating to -4%. Clrealy the EA has a very good max return to max draw down. The edge would be on the exit.
@abokwaik 8.5% profits reached... do you compare that % to your account size ?

if so, for the cross trader ea can you add a trade manager function in to close all trades at a certain % profits or losses ?
  • #1,078
  • Sep 28, 2016 3:28am Sep 28, 2016 3:28am
Quoting abokwaik
I've been working on a new profit taking technique that I plan to apply to my systems including the CrossTrader. Profit Taking Techniques (applies to all EAs). 1. Single Pair : Take partial profit on each new low break (for sell trades) and on each new high break (for buy trades). This technique assumes that each new low/new high could become support. Highs and Lows will be determined using ZigZag indicator. Number of profit taking levels can be set as input parameter, along with the starting point of profit taking (i.e. on 1:1 RR). So for example...
  • #1,079
  • Sep 28, 2016 3:48am Sep 28, 2016 3:48am
Quoting morne72
{quote} @abokwaik 8.5% profits reached... do you compare that % to your account size ? if so, for the cross trader ea can you add a trade manager function in to close all trades at a certain % profits or losses ?
Yes 8.5% return on account size.

I was using a trade manager and things were good, then recently I let the EA run alone to see how good/bad it can get, which will give an indication on suitable closure % in profit or loss to be used in the trade manager, OR, use dynamic profit taking as I posted earlier.
No guts, no glory
  • #1,080
  • Sep 28, 2016 4:00am Sep 28, 2016 4:00am
Quoting abokwaik
{quote} Yes 8.5% return on account size. I was using a trade manager and things were good, then recently I let the EA run alone to see how good/bad it can get, which will give an indication on suitable closure % in profit or loss to be used in the trade manager, OR, use dynamic profit taking as I posted earlier.

I'm running the ea on a live cent account and 80% + of the trades will run nicely into profits , but then turn into losers.

Running the trade manager will be a good addition ,but like you said its just finding the correct % to use.
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