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Finding the right expert...

  • #301
  • Quote
  • Apr 13, 2017 9:12am Apr 13, 2017 9:12am
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?
I'm adapting the strategy to try to deal with this. I think my idea is unique and is working very nicely in manual trading using the day candles. This is a thread following the progress. https://www.forexfactory.com/showthr...85#post9758485
  • #302
  • Quote
  • Edited 4:07am Apr 14, 2017 3:36am | Edited 4:07am
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?
In back testing UJ there was an instance where 4 levels was not enough. Took it up to 6 with 10% risk. Let's see if that will get it by rough spots.
No it still crashes. But oddly enough when there 6 levels 1% risk it slides through.
Not sure what the "level risk" setting refers to. %equity? Have messaged the author on another forum.
Also needs to be set to "virtual" take profit otherwise the expert sends out modifications on every tick.
http://www.trade2win.com/boards/trad...per-month.html
  • #303
  • Quote
  • Apr 14, 2017 5:24am Apr 14, 2017 5:24am
Looking at using the 14 HMA on the day chart for selecting which days to set up and in which direction for several different pairs for the 1 hour right after market open.
As a way to limit the risk. So there would be trades everyday but just not on the same pair all the time.
I have ECN so spread is not much of an issue.
May not need to be confirmed on candle close.
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  • #304
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  • Apr 14, 2017 11:07am Apr 14, 2017 11:07am
Hi jiva34, I like your idea to keep the EA opens for 1 hour only, the slowest time... right after US closes but you should not trade USDJPY.
After 3 hours US closes, Tokyo opens; if the USDJPY trades are unable to resolve within these 3 hours, there's always having risk to see them travelling far.

Just my 2 cents.
  • #305
  • Quote
  • Apr 14, 2017 11:10am Apr 14, 2017 11:10am
Quoting Macau
Hi jiva34, I like your idea to keep the EA opens for 1 hour only, the slowest time... right after US closes but you should not trade USDJPY. After 3 hours US closes, Tokyo opens; if the USDJPY trades are unable to resolve within these 3 hours, there's always having risk to see them travelling far. Just my 2 cents.
Thanks, yes, spot on. I'm seeing that now. I was attracted to how much it moved at that time, so much more than EU. But it is too much risk for what I am trying to do. Also BOJ is known for big surprises unannounced.
If you're interested Martin Armstrong' s analysis of world financial situation is great..
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  • #306
  • Quote
  • Apr 14, 2017 6:44pm Apr 14, 2017 6:44pm
Testing the non-Asian pairs.
Amazingly EURGBP went through 2016 with only $200 balance to begin. Couple big drawdowns but got through it, even Brexit, at that trading hour without calamity. That's not even with trend tracking.
  • #307
  • Quote
  • Edited 4:38am Apr 15, 2017 3:38am | Edited 4:38am
Instead of the 1m. Set up on the day.. with 100 pip step, trade hour 1 hour after market open,
Never went beyond level 3 Martingale, biggest draw down 195 pips. 100% gain for 12 months.
Because of how data is processed in the tester will run these settings on the 1 minute to double check.
Trying to identify trend simply does not work in the long run. Moving averages, any moving average is simply too slow. and all it takes is one sudden trend reversal and there is disaster.
Grid management recovery is the only thing that actually works.

Note: Didn't make it through the 1m candles.
optimization has two settings that make it through but the profit is not attractive.
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  • #308
  • Quote
  • Apr 15, 2017 6:24am Apr 15, 2017 6:24am
Quoting jiva34
Instead of the 1m. Set up on the day.. with 100 pip step, trade hour 1 hour after market open, Never went beyond level 3 Martingale, biggest draw down 195 pips. 100% gain for 12 months. Because of how data is processed in the tester will run these settings on the 1 minute to double check. Trying to identify trend simply does not work in the long run. Moving averages, any moving average is simply too slow. and all it takes is one sudden trend reversal and there is disaster. Grid management recovery is the only thing that actually works. Note: Didn't...
Hi.seems pretty safe. Reasonable profit too, just some long duration drawdowns to sit through. Just to clarify, which hour is this?
Gmt 0-1am?thx. (I'm currently playing with the swb ea aswell as DE.)
  • #309
  • Quote
  • Apr 15, 2017 11:48am Apr 15, 2017 11:48am
Quoting Spoon138
{quote} Hi.seems pretty safe. Reasonable profit too, just some long duration drawdowns to sit through. Just to clarify, which hour is this? Gmt 0-1am?thx. (I'm currently playing with the swb ea aswell as DE.)
The tester processes day candles differently than 1 minute candles. Even with "every tick" setting. When I ran the same setting through the 1 minute candles it didn't make it through. Crashed. Am just looking at lots of different ways to try to minimize risk trading recovery trades instead of stop losses. I have a strategy that works very very well in manual trading but it would mean sitting in front of the monitor for hours and hours on end. It is already partially coded for an expert but it's way way beyond my coding skills for completion.
the recovery trades are "graduated in step, take profit and position size"... not just position size. It works very nicely to allow for the positions to be resolved minimizing drawdown and claiming a decent profit for all the pain and suffering for riding it out.

Know anyone who would put some time into it?

Found this great simulator... If you want to practice manual trading.
Attached File(s)
File Type: zip FXBlueTradingSimulatorv3forMT4Setup.zip   2.1 MB | 529 downloads
  • #310
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  • Edited 8:40pm Apr 15, 2017 8:18pm | Edited 8:40pm
There are a lot of different ways to try to determine the trading direction. One way is candle patterns. 1,2,3 and then 4th favors changing direction at least for the 4th candle..
Working out nicely with dragon expert set up for the entire day in the expected direction of the 4th candle.
Close all at end of day. Sometimes a small loss. But no catastrophe.
total for the year $201. small dd.
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  • #311
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  • Apr 15, 2017 9:07pm Apr 15, 2017 9:07pm
GU using 1,2,3 candles... $366 for the year. worst day -$74 best day =$119
  • #312
  • Quote
  • Apr 18, 2017 8:20am Apr 18, 2017 8:20am
Going into the 5th level Martingale. No more levels allowed. Short USD that has caused the problem. Market going long on more Brexit news?. But USD doesn't stay short for very long. Long the dollar is the overall play. Could be stuck here for a while.
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  • #313
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  • Apr 20, 2017 1:59pm Apr 20, 2017 1:59pm
hello,
this one is super
https://www.mql5.com/en/market/produ...ll_description
  • #314
  • Quote
  • Apr 20, 2017 2:01pm Apr 20, 2017 2:01pm
Quoting Fernand
hello, this one is super https://www.mql5.com/en/market/produ...ll_description
Thanks always eager to improve.

Am trading live with this for now... killing it.
risk is contained...

https://www.forexfactory.com/showthr...21#post9768821
  • #315
  • Quote
  • Apr 20, 2017 2:41pm Apr 20, 2017 2:41pm
Quoting Fernand
hello, this one is super https://www.mql5.com/en/market/produ...ll_description
This is another one by the same author... Have it up and running demo now for a week. Doing very nicely. Doesn't trade very often but when it does it seems to pretty much get it right.
https://www.mql5.com/en/market/product/22285
  • #316
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  • Apr 20, 2017 2:53pm Apr 20, 2017 2:53pm
yes i know this expert is very accurate, but with the other you buy and sell when you want and the expert manages all your trades.
  • #317
  • Quote
  • Apr 20, 2017 2:55pm Apr 20, 2017 2:55pm
Quoting Fernand
yes i know this expert is very accurate, but with the other you buy and sell when you want and the expert manages all your trades.
Am testing it now. Looks like a valuable tool. If you want to be able use it on other pairs you have to contact him?
  • #318
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  • Apr 20, 2017 5:46pm Apr 20, 2017 5:46pm
you have to buy the other version
https://www.mql5.com/en/market/produ...ll_description
  • #319
  • Quote
  • Apr 20, 2017 5:48pm Apr 20, 2017 5:48pm
Quoting Fernand
you have to buy the other version https://www.mql5.com/en/market/produ...ll_description
If it is very good and have some use for it, then it is worth paying something.
I bought the dragon expert and it is paying for itself... that's the idea anyway..
His experts are very expensive. Some of them $1000, $2000 or more.
If he is giving this free and it only works on USDCHF that's good. Just take it.
  • #320
  • Quote
  • Apr 26, 2017 10:48am Apr 26, 2017 10:48am
The mentality is wrong. Trying to pick entries is all wrong. Using signals are all wrong. A grid system and hedging is the way to go.
Back to the fishing ea with a new perspective.
https://www.forexfactory.com/showthr...69#post9720969
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