Profit Generator EA - page 25
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
This EA worked great today!
I traded the four majors from about 00:00 GMT on 3-31-06 using HolyGuys latest backtested settings and made 90+ pips! 10 trades. 9 winners, one loser which was USD/JPY. Very cool!! This one is worth the effort. I plan on running it next week with those settings and see where I am next Friday. Thanks to everyone for the time and effort put into this!!! Great Work!!
Three days worth of data. Because of IBFX's policy had to open a new account and lost 3 days worth of data. Not bad as this is non optimized, and that makes me feel good
Maji
Correction on USD/JPY settings
I just noticed that my settings for usd/jpy are NOT the latest backtested. Things change fast. The settings for that pair were:
USD/JPY
Longbar-16
SL-25
TP-12
No time filter
The EA only took one trade on the pair which was a loser.
EUR/USD, GBP/USD, USD/CHF, were all winners as per Holyguys latest posted backtested settings.
Thanks holiguy, i did it from 1 to 5 then to 15 in a few minutes. I think script is running and taking a lot of memory untill you stop it. strange.
otherless, maybe this EA can get the 3000 pips
I traded the four majors from about 00:00 GMT on 3-31-06 using HolyGuys latest backtested settings and made 90+ pips! 10 trades. 9 winners, one loser which was USD/JPY. Very cool!! This one is worth the effort. I plan on running it next week with those settings and see where I am next Friday. Thanks to everyone for the time and effort put into this!!! Great Work!!
If you could Novafx99, why don't you try to add in the money management feature as well to make sure that works well. Put the MM at like 10 and see where you go from there.
For most EAs, the backtester just does not work at all. I believe the reason is that most use indicators and the backtester just does not know how to recognize correctly the indicator and how it works exactly. However, because this EA only uses pips (price movements) to generate buys and sells, it works very well.
I will post my backtest results for all currency pairs I have tested successfully so far. I believe the key is to get base hits with the majors then to try to swing for the fence and continually strike out. That is why the TP is set rather low. It apparently works good as a scalping system.
Can we see more successful or failed statements??? That is why we are all here, to share with the group.
TIPS WHEN BACKTESTING
Here is what I do do find successful backtesting. Just a few things that help me see if a set of perameters might be profitable.
1. I backtest the settings for the past 3 months. Usually from December 1, 2005 to the present (or around the present, usually to the end of last week or so). This gives a good indication of how the EA has preformed over the last few months.
2. I look for consistency when testing. I like a set of perameters that consistantly makes profit and does not make money for a while and lose money for a while. I like there to be a consistent profit from week to week.
3. If the 3 month test was successful, I then go back and test from January 1, 2005 to the present. This give a more long term (1.3 years) testing. It must also be profitable over this period as well for this is the long term trend.
4. I put more weight on the shorter timeframe then the longer one. The reason for it is because the Forex market is changing and getting more and more volume. The current (3-4 month) test is more in tune with what we will probably see in the future. For instance, when I tested out the USDJPY, I noted that without the timefilter, it did better over the longer (1.3) year timeframe and was still profitable on the shorter timeframe, but with the timefilter on, the shorter timeframe was more profitable then the longer timeframe (both were profitable). So I chose that one because the shorter trumps the longer. I hope I explained it well.
That is about it. If anyone else has some backtesting tips to add, I am always learning and would love to learn more.
Ok, money management
What will it do? Add to positions? I'm excited about this EA. 9 out of 10 winning trades. Can't beat that. Plus the thing actually works right. So many of these EA's are too buggy. I've also been testing hans123 and am having good trades. I use smaller Tp and Sl than the original formula and have been profitable this week. Personally, I think a scalping strategy is best in forex market unless you know a lot about fundamentals and keep up with all the news and market analysis. All I know is, between these two EA's I would have made big$$$ this week. I've tried real time trading with real money using indicators and have found that my emotions get too much in the way. Automation is the key as you all feel as well. Maybe not for everyone but most of us will lose in forex when we get involved in the trades. The big players know how to manipulate emotions very well. So many fishing for stops and it works everytime they do it. Maybe we could analyze what happens in bars on a low tf when the operators are fishing for stops and devise an EA to go in with them. It happens several times a day.
Backtesting problem
TIPS WHEN BACKTESTING
Here is what I do do find successful backtesting. Just a few things that help me see if a set of perameters might be profitable.
I am backtesting EURUSD according to your setting but getting oppsite results, I don't know what is missing, can you please have a look.
TF=H4
Stoploss=28
Takeprofit=13
Longbar=16
usehourtrade=false
I backtested for 3 months and getting modeling 90% also.
Thanks in advance
I'm too.
This setting may be profitable for EUR with low risk of hit Stoploss but not for other main pairs, also i am looking for 20 pips Take Profit.
v2.7
EURUSD (M5)
Stoploss: 30
Take Profit: 10
Longbar: 15
Period: 60
No timefilter
No Trailing Stop
I will try to find reliable setting with minimum hit Stoploss next week.This is the best backtest I have ever seen. WAY better than mine. We need to forward test this to see if it works in real time. It sure looks good on paper. I think you are on to something here.
I backtested this for the last 15 Months with 90% modeling quality and the results are VERY impressive. Let's pray that this works in real time because if it does, we all could be millionaires.
Backtests for Currency Pairs
Here are results of backtest of the 4 major currency pairs. Please Forward Test this week to see if they are somewhat accurate.
More Backtests on Minor Currency Pairs
Here are a few more backtests. Please continue to try backtesting these and others to find better and more profitable settings.