Profit Generator EA - page 44
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Hi Marlin!
Here are some other links:
http://www.goforex.net/forum/viewtopic.php?p=193
http://www.trade2win.com/boards/showthread.php?t=13788
We have to be careful on the FOREX-market. FOREX is about winning or loosing money. A lot of money! And where there is money, there are the Bad Guys. And these Bad Guys are there to take your money, one way or the other. So we have to be smart and find a way to operate "under the radar". We have to make sure that they can't "see us". Let the big boys fight about their money. And when they are busy fighting, we take our share. Our profits have to be small so they will not notice. Let's say $ 100 a day! That’s enough for me and it will not disturb the Bad Guys. I think this Profit Generator can do the job! Next week I will tweak this EA to go "stealth", "under the radar". How, I don't know yet, but I will try!!Was anyone trading back in the late 70's early 80's in the commodities and futures markets?
Back then their was a similar wild, wild west environment that was constantly stated it could not be regulate and the broker brought under control because of the world wide nature of the commodities markets.
Back then I open an account on a one page sheet I faxed in, and mailed the broker 1000.00 cash. (it was really different back then.)
Now I have to fill out 50 page legal docs, that has to be counter signed by a JOP/or some equal legal eagle, and the information that has to be provided is more that my mother knows about me.
I looks to me, these brokers have learned nothing, sooner rather than later the regulator boards around the world we come down on there's people like a ton of bricks and the only people that will get hurt, once aging, is the small trader, who will be squeezed out. Remember day-trading stocks, now you need 25k min.
Thous who say that forex can't be regulated, I say history says different.
My only question is, when will this will happen?
I know this is all a little off subject, but the details really matter.
Now back to our program, go get 'em guys!!
Hi,
None selling this? I'll look for but for instant visualchart demo data will be enought to build the backtester.
Nich,
Any possibility that the profit protector could be added into this EA.
The code can be found HERE.
The non-farm payroll definately ate into my profits because I was on the wrong side of the trade when the news came out and hit a number of stops.
I don't think it is the fault of the EA just something that happens. We need to keep testing, the EA does it's job it is just that NEWS can be a wildcard in the whole thing.
However, big news does not come out that often so just consider it a cost of trading in this market.
By the way, I tested out for the first time the Weekend Close feature and it works perfectly. Thanks Nich.The only problem with the Profit protection code is that it functions like a TakeProfit on the total combined profit on all trades. What is needed to protect against NEWS - is to have a total profit Trailing Stop or something else like StdDev to close unprofitable trades if the market moves Fast... Any ideas?
The only problem with the Profit protection code is that it functions like a TakeProfit on the total combined profit on all trades. What is needed to protect against NEWS - is to have a total profit Trailing Stop or something else like StdDev to close unprofitable trades if the market moves Fast... Any ideas?
Nich,
Here is the idea I have about NEWS that may work. We all know that generally the only time that NEWS would effect the EA would probably be right around 8:30 AM EST each day for that is generally when the NEWS for the USD comes out. The idea is that around that time to have the EA either do one of two things:
1. At 8 AM EST, if the pair is profitable automatically Take Profit and don't allow it to open a new position until after 9 AM EST. If the pair is not profitable let it ride (for if it is not profitable it is no big deal if it hits the stoploss at that point if the trade goes against you). Now with this one, there is always a chance that the NEWS could be in your favor and you might have closed a position early before getting your full Take Profit.
or
2. This idea might be a little more difficult do accomplish. I don't know if this can be done, but what about a feature that at a predetermined time each day (like say, 8-9 AM EST or 13:00 to 14:00 GMT) the EA checks to see if the profits are dropping at a predetermined rate (say like 10-15 pips from the last minute it checked) and if it is going against your position, it will automatically close out of the position. A feature that checks every minute and if the price has dropped X number of pips against you, close position.
Any chance either one of these two could be added to the EA. I know that it is asking a lot but one of these two would be the way to go.
How about right before news time say... 7:50am the EA closes the trade. Then you straddle price with a buy stop above and a sell stop below with a trailing stop. This way you trade the break out and can ride it automatically or get stopped out with a profit if it reverses. Then say at 9:00am or so when the market settles and establishes a trend for the day, the normal EA kicks in again?
Sounds good to me? Just a thought.
~Billy
How about this... Let's build a csv file that includes the news dates and times a week or two ahead of time, then have the EA reference the file at certain intervals so it will be primed at specific times. Finally, the EA would be on alert to close loosing trades and hang on to the winners. any thoughts?
DOES SOMEONE HAVE GOOD TICK DATA?
have you checked http://ratedata.gaincapital.com/ ?
older data may be not good, but more recent should be Ok I think.
Two weeks results testing PG 2(1).7
Attached is the results for 2 weeks on a 5k demo account trading:
1. GBPJPY M15 S/L30 TP60 Long Bar 20
2. EURJPY M15 S/L30 TP60 Long Bar 20
3. GBPUSD M15 S/L30 TP60 Long Bar 20
4. EURUSD H4 S/L50 TP40 Long Bar 16
This is a follow up post to #288. The first week the EA produced 26% profit. This week the account is down about 50% from the start.
Start $5000--> week 1 approx $6200 --> week 2 approx $2500
What does this mean? This EA is not a consistant winner.
How about this... Let's build a csv file that includes the news dates and times a week or two ahead of time, then have the EA reference the file at certain intervals so it will be primed at specific times. Finally, the EA would be on alert to close loosing trades and hang on to the winners. any thoughts?
Sounds good, but how can it be done to make it "user friendly." I don't mind doing something like that and posting it every couple of weeks but I think the idea of an EA is that it runs automatically. That is the solution I am looking for but, if this is the way, let's do it.
By the way, not all currency pairs did that bad on the "news" times. One hit it's stoploss of 20 pips but then immediately opened a new trade and made that back. So news is not always a "disaster".
I think what was going on was that we were testing out settings on 10-12 currency pairs and when all take a loss at the same time, it hurts. However, if only 3-4 take a loss but then immediately make that back it is not a big deal.
Attached is the results for 2 weeks on a 5k demo account trading:
1. GBPJPY M15 S/L30 TP60 Long Bar 20
2. EURJPY M15 S/L30 TP60 Long Bar 20
3. GBPUSD M15 S/L30 TP60 Long Bar 20
4. EURUSD H4 S/L50 TP40 Long Bar 16
This is a follow up post to #288. The first week the EA produced 26% profit. This week the account is down about 50% from the start.
Start $5000--> week 1 approx $6200 --> week 2 approx $2500
What does this mean? This EA is not a consistant winner.I have noticed that the M15 timeframe is not reliable. I believe is because there is too much noise. H1 is much better witht his EA because it filters out a lot of noise and makes it more profitable. Also, try the Obsolute Feature in the new version, I beleive it increases profitablity and lowers downrisk.