Fishing EA

Got out of the mess and learned a lot... took 7 hours.
Did I say mess?
Could have stayed in a little longer but after 7 hours I was ready to go.

Damn. This is fun. I'm liking this better than the dragon expert.
Except with Fishing I have to be at the monitor the whole time making then necessary adjustments.
With dragon, set and forget more or less.
With every new recovery opened add .01 to the positions size
For every .01 ad .5 to the tp.
A thing of beauty is created.. These trades are being run with $200 equity. 500:1 leverage
ran for less than 2 hours.

Wow that's all I can say. Wow.
drawdown isn't a problem.
there has to be high enough margin... switched to $500 equity, 500:1 margin.
Almost 12 hours. That would be a lot to go through. Sitting at the monitor for 12 hours..

This is so much fun. I am only managing a very small amount of money. $500 account.
But I get it how people managing millions get off on it. And how they can mess up big time.
I want to up the ante... to $5000 but not until I'm really really ready... Not until I can make it work at $500. Really really work.
Looks like I'm getting close.

Sunday night when the markets first open appears to very active.
This took 3 hours. 142 pips..
The fun meter is way up on this...
But I don't want to take on too much risk. Or game over.
Let me run a few more Sundays in the tester.

Hit a strong trend.
Tried a number of things to ride it out.
What worked was each recovery trade upped by .01 and the step increased by 5. profit increased .5 per .01
It takes longer for the trades to close but avoids a calamity.

This ea is so versatile.
I set it to trade with the trend marked by the 10lwma on the 4 hr, either to buy or to sell and let it open a trade right at the start of the trade hour by setting it to step 1.. at .01
Then reset it for step 50 ( 5pips) at .02... and subsequent recovery trades if there are any are increased by .01 as well as the step increased by 50 (5) and the tp increased by .5...

This happens. Not often. But it does happen. The 10lwma doesn't move fast enough to catch the trend change.
So the indication is in the wrong direction. Like here. This is up trend indication but the trend has reversed.
Using the recovery system.. It took 9 hours to resolve. total gain 50 pips. minus commissions and spread. Which is pretty minimal on an ECN.

2 hours 15 pips on a Sunday night.

Here's a comparison of the same set up, similar anyway, as captured by two different eas.
The Fishing ea 2.5 hours 15 pips
and the dragon expert 2.25 hours 13 pips.

Dragon 6 hours 34 pips 2 recovery trades Some drawdown..
Fishing 2.5 hours 10 pips... no drawdown really.

Had to test fishing ea in two sections. For some reason it would not open a sell right after it closed. Even when I set step to 1 and waited quite some tome before it would open. Tried to test in two different testings one set exactly at where I wanted it to open but still it would not open until much later. A bug in the tester data? A bug in the ea?

In some ways fishing ea seems a little less risky. But the drawback is it is semi automatic which means being tied to the monitor for possibly all day and all if it gets caught in a trend the wrong way. Less risk because the Martingale position sizing is not aggressive.
The dragon is fully automatic but tends to have significant drawdwon. The Martingale recovery trades position sizes, set into the algorithm and unchangeable, accelerate in size significantly. Tending to causse a significant drawdown, but also a significant return in profit.

Fishing ea is not practical without a good market timer. Also not being able to reset the step and position size as the trading progresses. As it is coded now it means watching the monitor for hours and hours. Just too much.
Am switching to Litewave... set up for the hour.

can send me ma indicator which you have in charts


thanks in advance

....

A month later I'm back to the fishing ea with a whole new understanding.
Never mind picking trends or signals or anything like that. It is all wrong way to trade.
The grid system is there. I like this ea because it is not martingale. I see it is best used for a hedging strategy.
Positions are held in both directions. While the market is going one direction a tp is reached and when it reverses the other tp is reached.
If it gets into trouble there is the close all for total... which is set very low just to get out and start over.
A lot of trades are placed but using an ECN even with the fees and swap and commissions still make it very profitable.
In the tester 5 months and the equity doubled.
increase the position size .01 per 1000 equity... , also the tp by $50 per .01... and the escape tp by .5 should be safe enough...

It's not a pure grid system in that every time the market moves the step amount it will open a position. Which means if there is consolidation it could open several positions at the same price. So then it starts to act like a Martingale. Although each position size is fixed.

Starting $400 1/1/16 at .01... it breezed through Brexit on the EURGBP...
of course whether a broker could fulfill the orders fast enough is another thing...
But. the strategy held... at least technically.

The only strategy that consistently won was a little boring. But at this point boring and winning sounds pretty good.
Setting up on fourteen chosen pairs with giant steps looking for $.50 per .01.
amazingly it works very very well. If a pair moves 200 or 300 pips it is very, very likely to retrace at least 5 pips within the next little while. Grab it.
So it stays up and running 24/7 looking for the 5 pips after a big move.
If I want more from the trade just increase the position size. Of course that also increases the risk.. It does happen that it moves another 200 or 300 pips against in that case another position is opened. and then there is the waiting and swap fees. Doesn't happen very often but it does.
Typical trade looks like this

If it doesn't close right away and the pair moves further it opens another position at the next giant step.
This can drag on for a while... and sometimes even a third position all looking for 5 pips. Not much fun but it does resolve eventually.
The drawdown isn't that bad since the positions are small and the steps are big. Just a matter of waiting.
This one opened a second position and held over night to resolve.