Finding the right expert... | Page 7 | Forex Factory

Options

Go to
Permalinks
Print Thread

Similar Threads

Intresting finding or simply statistic: 5min candel 14 replies

Right Wrong Right Wrong Right Wrong 13 replies

Coder question: Finding the right Buffer/value 13 replies

Price Action - Right To Left Or Left To Right? 4 replies

Newb at the right place and the right time 1 reply

Attachments: Finding the right expert...
Exit Attachments

Finding the right expert...

  • #121
  • Feb 11, 2017 5:48pm Feb 11, 2017 5:48pm
Increasing the risk level increases the gains by at least 3x.
I think I have the market hours for the best times to run the robot.
Two hours after Tokyo open to London close. 10pm to 12 noon est.

This set is increased risk but the gains are so attractive. Some losses at close change of trend 2 T3, but they are small.
The difference between $200 in a long run to $600 for the same run. Bigger swings as Martingale kicks in. Do I have the stomach for it?

This is the high risk set for Tradersway, 2 hours after AAAFX platform.
Attached Image
  • #122
  • Feb 12, 2017 4:29am Feb 12, 2017 4:29am
Hi jiva34
What are you doing but on my MT4 Dragon Expert v3.2 is opening 1 long and 1 short, both get stopped out and nothing is happening anymore.
What con I do to make it work?
  • #123
  • Edited 8:52am Feb 12, 2017 8:21am | Edited 8:52am
Quoting kofix11
Hi jiva34 What are you doing but on my MT4 Dragon Expert v3.2 is opening 1 long and 1 short, both get stopped out and nothing is happening anymore. What con I do to make it work?
Hi. There is so much to learn with trading, not just strategies... but the technological part as well, not to even speak of the psycholigical challenges.
Sounds like you are fairly new to this.
Check your testing specs.
You can specify long only, short only or allow both long and short.
Brokers have 5 and 6 digit prices. I have a 6 digit broker so if I want to set 10 pips as target I have to specify 100 pips because they use an extra digit.

I bought the robot $300 and am delighted with it. It is expected to bring in $500 week for 1:1000 margin and $500 initial deposit with Tradersway using .01. It is so simply compared to some of the others and very, very effective. I think he is a genius. But you do have to know how to use it properly. That can take a lot of work, studying, researching, practicing...

He is also very active on forex factory
http://www.forexfactory.com/dragonexpert
  • #124
  • Feb 14, 2017 7:48am Feb 14, 2017 7:48am
Major goof up in testing. Forget trying to figure out the trend. Just forget it. There is no indicator, moving average or whatever that can catch a big change move out of the blue for whatever reason... Expected announcement of or otherwise.Everything is just too slow. They show a move after it has happened only.
the only way to win at this is calculated probability set for for any circumstance.
the robot already has all that programmed into it.
One thing I can do to help things along is choose an appropriate time of day to set it up if I want to try to minimize risk of a catastrophe.
If I have enough equity ($5000 recommend) and 1:1000 margin starting with .01....
If I set up the high risk setting for just one hour... one hour after Tokyo opens on EURUSD... that is more than enough.
Will test to see if $1500 at 1:1000 is enough to start and build.
  • #125
  • Feb 15, 2017 2:58am Feb 15, 2017 2:58am
Martingale means the threat of catastrophe. How to avoid it is the challenge.
Because Martingale is great until it isn't great.
Twelve months of gains can be wiped out in an hour.
The entire account can evaporate.
When the Martingale keeps trying to buy it's way out of a losing position.
Kind of like what's going on in the economy with the FED and monetary easing...
Looking at a setting that seeks to take in 5 pips with low risk level.
Looks good taken back to 2006. Have it running on demo.
  • #126
  • Feb 15, 2017 8:04am Feb 15, 2017 8:04am
Going back through the history of data release,, announcements and news...
It's always the Fed. Not simply a data release... In the back tests the big hangups for the dragon are Fed speak...
The big long term changes in direction for the market are Fed speak.

Lesson. Don't trade before Fed speak. Or on Fed speak day. Like today..
Yellen presents before Congress today. 10 am.
Afterwards, an hour or two might be okay to set up.
  • #127
  • Feb 15, 2017 8:40am Feb 15, 2017 8:40am
What was the most floating amount you had at one time on the Dragon Expert?
  • #128
  • Feb 15, 2017 6:02pm Feb 15, 2017 6:02pm
Really happy with the settings. 5 pips, 5 pips, 5 pips... all day...
Nice...
No matter trend.. the algorithm takes care of everything.
Just don't set up on Fed days and if there is big news coming,, or red hot data expected...
Something big enough to turn the market direction.
From the history it is simply the time around Fed announcements of policy that can hang up the robot.
  • #129
  • Feb 16, 2017 2:45am Feb 16, 2017 2:45am
The fishing EA s doing nicely

Attached Image (click to enlarge)
Click to Enlarge Name: fishing-AUDUSDDaily.png Size: 96 KB
  • #130
  • Edited 8:47am Feb 16, 2017 8:32am | Edited 8:47am
Quoting Go5
The fishing EA s doing nicely {image}
Super. Just watch the big turn around days. Fed speak, hot data or news.
Otherwise shouldn't be any problem.

Dragon expert... trading breakouts
and Litewave trading pulbacks have similar trailing algorithms.

My favorite is the dragon expert... $300...
Bought it. Had to have it!! Up and running on live account.

I bought Litewave too $50.
http://www.forexfactory.com/showthread.php?t=635607
  • #131
  • Feb 16, 2017 8:46am Feb 16, 2017 8:46am
Quoting Kenjoswil
What was the most floating amount you had at one time on the Dragon Expert?
In the tester going back to 2006... depending on the settings it can crash.
But the crashes when I researched them on the calendar were Fed days.
Other than those 4 or 5 catastrophic Fed days out of the 10 years back to 2006...
Other than those bombs, just regular days with data releases and all...
maybe to the fifth level Martingale... for .01 that would be .13 lot size
I don't remember seeing anything higher...
And when it closed it was a big gain...
  • #132
  • Edited 10:46am Feb 16, 2017 10:21am | Edited 10:46am
Should have waited to set up the dragon. Fed speak 10 am... I set up around 11 am.
Too soon. Should have waited until London close actually.
Anyway it'll be okay... When the positions close it'll be a decent return.
Would rather not risk so much though with Martingale. Up to 5th level... now..

$1000 at 1:1000 . Even so if Martingale gets going it can eat through that in an hour.

Next time I'll shut down earlier before Fed speak and set up later after Fed speak.
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 262 KB
  • #133
  • Feb 16, 2017 10:44am Feb 16, 2017 10:44am
Quoting Go5
The fishing EA s doing nicely {image}
What parameters do you use in the EA? Thanks!
  • #134
  • Feb 16, 2017 10:54am Feb 16, 2017 10:54am
dragon expert...
Okay this is how it looks when it closes out...
Nice..
Attached Image (click to enlarge)
Click to Enlarge Name: Capture.PNG Size: 272 KB
  • #135
  • Feb 17, 2017 4:54am Feb 17, 2017 4:54am
Quoting kofix11
{quote} What parameters do you use in the EA? Thanks!
Just like described here: when Daily uptrend, buy 0.04 close $4 - sell 0.02 close $2; reverse for down trend...(for $500 account)
  • #136
  • Feb 17, 2017 8:54am Feb 17, 2017 8:54am
Quoting Go5
{quote} Just like described here: when Daily uptrend, buy 0.04 close $4 - sell 0.02 close $2; reverse for down trend...(for $500 account)
If you are having good results with identifying a trend... congratulations.
I was thinking to do that. Favor a trend long or short. But things can get out of hand very quickly. Big up days in a down trend etc...
I don't even try to figure out the trend. Just let it buy and sell but don't set up on crazy days...
Good luck with it.
  • #137
  • Feb 22, 2017 5:41am Feb 22, 2017 5:41am
Quoting jiva34
{quote} If you are having good results with identifying a trend... congratulations. I was thinking to do that. Favor a trend long or short. But things can get out of hand very quickly. Big up days in a down trend etc... I don't even try to figure out the trend. Just let it buy and sell but don't set up on crazy days... Good luck with it.
At the moment I am just testing through all red news etc. - looking for the worst and till now (400 pips uptrend) pips just keep rolling in...
  • #138
  • Feb 22, 2017 8:22am Feb 22, 2017 8:22am
Quoting Go5
{quote} At the moment I am just testing through all red news etc. - looking for the worst and till now (400 pips uptrend) pips just keep rolling in...
The big loss comes as a surprise. Always. Everything can go fantastic for months and then bam! It cannot recover and the loss runs away with itself. and it can happen very quickly in a few hours even... $5000 gone. poof.

How to prevent that. That's the challenge. For technical trading and visual indicators the challenge is identifying the trend.
For price action and Martingale trading the challenge is how to avoid the catastrophe which "always!!!" comes at some point.
No matter how deep the pockets... There is a catastrophe designed by probability to take it out.
  • #139
  • Feb 22, 2017 11:31am Feb 22, 2017 11:31am
The psychology..
I have tried letting the dragon run 24/7. But it is too disturbing for me to know that it is running all the time.
So I am back to the low risk setting.
3 hours before NY open to 1 hour after NY open
That's it. 4 hours only. Feels much better.
The setting tested good for the back test the last 11 years. Not a guarantee but definitely encouraging.
There has to be enough equity.
The designer of the robot recommends .01 for $5000. He should know.
It is a Martingale so the position sizes can increase at an accelerated rate in a drawdown recovery.
Not uncommon to reach the 6th and 7th level Martingale. which means .13 and .21 so it gets up there and if it has to go higher it can go .34, .55, .89 all the while the move is against the position. It can get up there very quickly.
I'm thinking to have a risk level at some point and take the loss just to get out of it. Because it is possible for it to not comeback at all and take the entire equity with it.
Better to lose $200 or $300 than $5000.
  • #140
  • Feb 22, 2017 2:14pm Feb 22, 2017 2:14pm
Quoting jiva34
{quote} The big loss comes as a surprise. Always. Everything can go fantastic for months and then bam! It cannot recover and the loss runs away with itself. and it can happen very quickly in a few hours even... $5000 gone. poof. How to prevent that. That's the challenge. For technical trading and visual indicators the challenge is identifying the trend. For price action and Martingale trading the challenge is how to avoid the catastrophe which "always!!!" comes at some point. No matter how deep the pockets... There is a catastrophe designed by probability...
I agree. But if we already know why not use a trend EA? Probably with grid or martingale or pyramid?
0 traders viewing now