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Finding the right expert...

  • #281
  • Mar 29, 2017 7:03pm Mar 29, 2017 7:03pm
Set up on the four majors.
Dragon is trading away on demo..
Am also set up live micro for EURUSD only.
Here's the first to close for tonight.
And the second
Things of beauty...
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  • #282
  • Mar 30, 2017 1:13pm Mar 30, 2017 1:13pm
Quoting Fernand
money management : if you can win 2 out of 10 trades with a Risk/Reward ratio of 2 then u make 11%
It really is all about money management. Even a not so great strategy can be profitable with good money management.
  • #283
  • Mar 30, 2017 8:26pm Mar 30, 2017 8:26pm
Dragon is smoking... seems to be a good time of day to set up.. Start of the new day for just 1 hour.
  • #284
  • Apr 7, 2017 3:40am Apr 7, 2017 3:40am
Hi jiva34,

Will you recommend Dragonexpert ea? It seen nice and profitable but I would like to hear from you since you already tried it for few months. Thanks.
  • #285
  • Edited Apr 8, 2017 4:57pm Apr 7, 2017 9:14pm | Edited Apr 8, 2017 4:57pm
Trading the fishing ea manually in the tester this strategy I like a lot.
start out step 0 at the open. So it opens a trade right away at the start of the new day. direction of trade based on a close above or below the 10lwma on the 4hr.Using .01 and 500:1 leverage.
After it opens set the step to 100 (10) and the position size to .02.
Usually it will not take more than 2 recovery trades but it can get caught by surprise and trapped in a breakout the the wrong direction.
Getting out works nicely by increasing the position size by .01 each time and the step distance by 50 (5) each time.
This makes less of a drawdown and the reduces the possibility of a margin call.
But the ea is not coded to do this. And it can take hours and hours for a trade to resolve. My coding skills are limited to cut and paste.
Also the trade time I added, cut and paste, isn't very good. It needs to keep the ea open in order to resolve a position. Just not to initiate any new trades. But as it is set now it will just turn the ea off completely at the designated end time.
From what I have seen manually trading this with these modifications automatically coded in would make this a killer. With options to set and use the varied setting.
  • #286
  • Apr 7, 2017 11:04pm Apr 7, 2017 11:04pm
Taking a serious look at these eas. No settings really. All optimized. They are free now but are under development. the rest of this coders eas are extremely expensive $2000? They are slowest eas I've ever seen in the tester so they must be analyzing quite a lot of data. They look really good. Get em now before they are in their final stage and go on for sale. Many of them are free now.
https://www.mql5.com/en/search#!keyword=ypy&page=1
This graph is Immortalis pro.. but slow isn't the right word. I mean slow slow slow...slow slow slow
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  • #287
  • Apr 8, 2017 9:26am Apr 8, 2017 9:26am
YPY's stuff is really good.
They are optimized for certain pairs. mostly 15 min time frame so it is necessary to read the documentation.
This is Serena... GBPUSD this is 1 year I'm taking it back 5 years. Thankfully it runs a little faster than the others.
No Martingale..
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  • #288
  • Apr 8, 2017 4:02pm Apr 8, 2017 4:02pm
Quoting khtan38
Hi jiva34, Will you recommend Dragonexpert ea? It seen nice and profitable but I would like to hear from you since you already tried it for few months. Thanks.
It's the best thing I've found. But it is martingale. It can be very dangerous. I'm trying to reduce the risk by only setting up for one hour at the opening of the new trading day. Super slow time. I try to identify a trend using the 4hr and 10lwma. Small account balance. Plan is to set up on several pairs each on a separate account with a small balance. Just in case the worst happens it will only take one account down.

Good support from the author.
https://www.forexfactory.com/showthread.php?t=581649
  • #289
  • Apr 8, 2017 4:33pm Apr 8, 2017 4:33pm
Quoting jiva34
{quote} It's the best thing I've found. But it is martingale. It can be very dangerous. I'm trying to reduce the risk by only setting up for one hour at the opening of the new trading day. Super slow time. I try to identify a trend using the 4hr and 10lwma. Small account balance. Plan is to set up on several pairs each on a separate account with a small balance. Just in case the worst happens it will only take one account down. Good support from the author. https://www.forexfactory.com/showthread.php?t=581649
Hi, Great thread btw.
I too have been trying to get the Dragon to work with reduced drawdown. Just when I think its looking good it spikes. Primarily ive been trying any pairs out of their respective time zones to lower the chance of news hits etc. Ive tried many different settings but the way it works simply needs deep pockets I fear. I agree though its just sooo good. The idea of splitting into smaller accounts and allowing margin call as am effective SL is good. From backtesting myself im aware you only need one good run to get some clearance $$$$ for the inevitable DD.
Didn't the early versions have an equity stoploss? have to ask DE, I suppose.
Anyway ill keep you posted if I find anything of use;
I was looking at aud/usd and USD/JPY during London, Pre US session only (for low spreads).
Also ran AUD/NZD to( try mimic behaviour of EUR/GBP) through almost all London and US sessions.
As recommended i think initially by DE, I struggled with euro pairs during Asian session as spreads are terrible for me.

A quick question if you don't mind.
The links you posted above for ypy any idea how to point at a different MT4 ,its trying to dump them in an old MT4?
  • #290
  • Apr 8, 2017 4:50pm Apr 8, 2017 4:50pm
Quoting Spoon138
{quote} Hi, Great thread btw. I too have been trying to get the Dragon to work with reduced drawdown. Just when I think its looking good it spikes. Primarily ive been trying any pairs out of their respective time zones to lower the chance of news hits etc. Ive tried many different settings but the way it works simply needs deep pockets I fear. I agree though its just sooo good. The idea of splitting into smaller accounts and allowing margin call as am effective SL is good. From backtesting myself im aware you only need one good run to get some clearance...
Off market times for a particular pair seems the best way to go. Also to limit the number of martingales it can open. If need be.. in an emergency to just ride it for a while until it turns around, providing it wasn't a major trend change. Which is highly unlikely in off market times.

YPY... it should ask you what link you want to send the ea to. There should be a browse button. They are under construction. And OMG they run slow in the tester. I wish I could find someone to code the fishing ea with a few modifications. Martingale but also with increased step size as well as increased position sizes. Good luck keep us posted.
Immortalis by YPY is impressive on EURUSD.

I have the dragon up and running on EURUSD in a $500 account. But I notice USDJPY and GBPUSD close much more quickly. I think I can scare up another $500 and set up GBPUSD in a separate account. USDJPY is skittish. BOJ does tricky stuff unannounced, so does SNB.
  • #291
  • Apr 8, 2017 5:13pm Apr 8, 2017 5:13pm
Quoting jiva34
{quote} Off market times for a particular pair seems the best way to go. Also to limit the number of martingales it can open. If need be.. in an emergency to just ride it for a while until it turns around, providing it wasn't a major trend change. Which is highly unlikely in off market times. YPY... it should ask you what link you want to send the ea to. There should be a browse button. They are under construction. And OMG they run slow in the tester. I wish I could find someone to code the fishing ea with a few modifications. Martingale but also...
Thanks. will have another go at ypy.
I tried playing with the max martingale steps on DE but found that reducing the number led to sustained drawdowns (sleepless nights) which could often go higher than if left at a higher setting, a bit of a catch 22 situation, which left my nerves in shreds both ways. The other profit setting to take just $1 at 'x' steps was interesting because whilst it feels safer lower it seems to drag building profit which inevitably means longer exposure to gain that $$$ ready for a DD. I found 3 or 4 a good compromise.
Maybe an adjustable LOT multiplier would help.
running 20 pip step, 18 tp produced similar results to standard settings through optimization, almost as if running a higher TF , a bit less intense.
  • #292
  • Apr 8, 2017 6:24pm Apr 8, 2017 6:24pm
Quoting Spoon138
{quote} Thanks. will have another go at ypy. I tried playing with the max martingale steps on DE but found that reducing the number led to sustained drawdowns (sleepless nights) which could often go higher than if left at a higher setting, a bit of a catch 22 situation, which left my nerves in shreds both ways. The other profit setting to take just $1 at 'x' steps was interesting because whilst it feels safer lower it seems to drag building profit which inevitably means longer exposure to gain that $$$ ready for a DD. I found 3 or 4 a good compromise....
Here's the set I'm using EURUSD, 21 is the market open for the broker's GMT...
Have the four majors set up like this on separate accounts. Just an idea. I'll be testing it.
Giving YPY immortalis a break. So slow in the tester. It's been running 2 days straight only covered 3 months? I want to take it back 5 years... It might take 5 years just to test it.
The graph looks good though. But I saw another one of YPY's started out good but stalled out for 3 years. Just went flat. Trading like anything. But flat. Broker would love that.
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  • #293
  • Apr 8, 2017 8:59pm Apr 8, 2017 8:59pm
Hi jiva34, I have a question if you don't mind.

Dragon is a grid trading EA, how you are able to take trades from only one direction by using 10lwma filter?
  • #294
  • Apr 9, 2017 4:55am Apr 9, 2017 4:55am
Quoting Macau
Hi jiva34, I have a question if you don't mind. Dragon is a grid trading EA, how you are able to take trades from only one direction by using 10lwma filter?
Hi. I check every day before the market opens if prices are closed above or below 10 lwma on the 4h.. Then go into setting for the expert and set it.
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  • #295
  • Apr 9, 2017 11:35am Apr 9, 2017 11:35am
Hi jiva34, thank you so much for the explanation.

Happy trading and more green pips to you.
  • #296
  • Apr 9, 2017 5:21pm Apr 9, 2017 5:21pm
Have the four majors set up. Over the last little whle UJ is top performer. First to go out and if there are recoveries good profit.
USDGBP is the next best.
Then EURUSD
USDCHF is the worst. Very slow to go.
  • #297
  • Apr 9, 2017 5:25pm Apr 9, 2017 5:25pm
Two days now 24/7 in tester and only up to 4 months on the 15 minute. What could make it run so slowly? the way it's coded? Or is it just processing tons of data for each tick? It will take over a week at this rate to do 12 months. I could be mining bit coins.
The graph looks good though.
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  • #298
  • Apr 10, 2017 11:01am Apr 10, 2017 11:01am
This is dream come true. So useful.
A script that reveals the gmt offset for the broker. Wow...
Attached File(s)
File Type: mq4 LocalTimeAND_GMT_Shift.mq4   4 KB | 437 downloads
  • #299
  • Apr 13, 2017 12:59am Apr 13, 2017 12:59am
Hi jiva34, I have a few more questions if you don't mind.

I saw you have set the number of martingales to 4 levels only, what should we do If our trades are unable to close within the specific hours and now they are travelling too far away? Just drag on until they are resolved?

What if the trades have opened for more than 15 hours and now entering New York trading hours, continue drag on or manually close the trades?
  • #300
  • Apr 13, 2017 7:34am Apr 13, 2017 7:34am
Quoting Macau
Hi jiva34, I have a few more questions if you don't mind. I saw you have set the number of martingales to 4 levels only, what should we do If our trades are unable to close within the specific hours and now they are travelling too far away? Just drag on until they are resolved? What if the trades have opened for more than 15 hours and now entering New York trading hours, continue drag on or manually close the trades?
You're good. Great questions. Those are the only two questions I have not actually resolved. In several years of back testing in the tester with data from http://www.histdata.com/download-free-forex-data/ It has always resolved by letting it have some drawdown and time without a crisis. Not going beyond level 4. That doesn't mean there couldn't be a crisis.
The worst case would be it reached level 4 and never turned around. Would I just let ride until the inevitable end? Would try to open an emergency recovery trade tailor made to the crisis? I've done that before and it can save the day. It is somewhat of an unknown at this point.

In order to guard against a total disaster I am keeping several small accounts each for a separate pair. UJ, EU, GU. Each with their own account. Another way to try to protect against this would be to trade correlated pairs. It hasn't happened in back testing so far and I am continuing to back test hoping to run into it so that I may not be caught off guard in real time. That time of day 1 hour after open just hasn't decided where prices are going yet and they bounce around. I'm set for 8 pips profit which is likely to be reached without a problem, especially if a trend has been identified on a higher time frame. So that's about the best I can do at this point.

The rest is up to a Higher power.

Thanks for asking. I don't want to get lulled into a false sense of security.
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