Terminator v2.0 - page 5
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Not this EA don't have nothing to do with Firebird. It is a martingale type of EA, it start trading with the trend but if the trend change it keep opening positions against the trend and double the size of each positions, eventually the trend make a pullback and at that moment the EA close all position with profits, not matter that the price is now 100 pips against the first position still is a profit because the last position is a lot more bigger that the first one.
Is a efficient way to make money in a choppy market or normal market.
But the big risk happen when the market make a big movement without a pullback, although it is not frequent, it happen from time to time, the last one was June 29 when the GBPUSD made over 400 pips movement without a pullback.
I found that GBPUSD and GBPJPY are too dangerous currencies to trade with this system, GBPJPY can have 300 pips of diary range
With the actual Tom settings the system can withstrap a movement of 180 pips against the first position and still make a profit with a pullback of only 20 pips. Pullbacks always happen because of the taking profits and a big movement find a resistance or support level, that range is enough with almost all other currencies in normal market conditions. You need to calculate that the max order need to be not more that 5 to 10% of your capital to be relative safe, but please, never put your trust in that system and withdrawal your profit monthly, although the system can work for months or years without any problem still have the potential to kill your account in one hour.
I found that the system is a lot more secure when it trade in the direction of positive interest, because almost all currencies have a long trend in the direction of positive interest and from time to time currencies make a yearly high, or low, in the direction of positive interest, although USD can be the exception, but anyway if you max order get stuck without pullback you can wait without the pain of the negative interest and eventually the price come back and close.
The first author of this type of EA (free version)was Alejandro Galindo with the 10point3 and followed wit DLM1.1
I think he published it in March of this year and I used it from that time.
Terminator from Tom is based in DLM1.1 and have more optimized settings and one important addition like the ability of calculate the pip value automatically, that is important to operate the EA in all currencies.
I used DLM1.1 in one of my live account with 16 currencies and now charged to Terminator, it is more effective, with my capital and settings it make about 10% of monthly profit.
Important: this EA perform exactly the same in lived or demo account, but i suggest that you test it in demo first, to adjust the money management and feel confident with the EA, and wait for a big movement, you need to understand how it work before put it in a live account.project1972,
thank you for the Great explanation . do you use default setting for the 16 currencies. ? can you share your optimes setting and what money management value currently you using.
Thanks in advance
cheers,
CF
tom,
i would like to ask you regarding MM setting in Terminator setting. in the EA itself the default value for risk=0.01 but when during load the EA i cant type value with decimal point, only round figure only can be type in.
my qustion is , how the MM is working on normal acc and mini/micro acc. ? and how / what are the optimised/recommended setting for risk ?
regard
CFThe risk= setting is in error and perhaps should be set to 1. Unless mm= setting is set to 1 the risk= setting is not used anyway so the error was of no consequence in the default settings. MM= and risk= settings work together. If you were to set mm=1 and risk=1 and try it on a demo account Terminator will open the first trade using 1% of your account balance rounded off to the nearest higher lot or 1/10th lot depending on if your account is regular or mini. This would be risky business and I wouldn't suggest it. But if you want to try it out on a demo to see the cause and effect of these settings, it's a good learning experience.
The optimized setting is mm=0, risk=1. The risk= setting here is irrelavant with mm=0, however it corrects an error. These settings would allow lots= setting to be used for the initial trade on a currency pair, which by default is 0.1. Perhaps, depending on your broker, a regular account does not trade in partial lots, only whole lots. So unless the broker allows partial lots or you are an arabian oil sheik or some such or had deep pockets and planned a different trading strategy using whole lots, try sticking to a mini or micro with higher leverage - with no upper balance limit.
Hope this helps.
tom
p.s. Project1972 gave a very good explanation of how this EA works and gave a very fair estimation of the cababilities, limitations, and liabilities of this EA.
Thank you Project1972.
That's my settings with a 25K regular account, I don't use MM
I use lot size to 0.01 (micro lots)
TakeProfit = 38
Lots = 0.01
StopLoss = 0
TrailingStop = 20
MaxTrades=9 -------> with that settings the max order is 2.56 lots 10% of the account.
Pips=18
SecureProfit=20
AccountProtection=1
AllSymbolsProtect=0
OrderstoProtect=8 ----> I prefer a high level of protection
mm=0
And I trade the following pairs
USDJPY ---Only LONG
USDCHF ---Only LONG
EURUSD ---Only SHORT
EURJPY ---Only LONG
EURCHF ---Only LONG
EURGBP ---Only SHORT
USDCAD ---Only LONG
AUDUSD ---Only LONG
GBPCHF ---Only LONG
CHFJPY ---Only LONG
NZDUSD ---Only LONG
EURCAD ---Only SHORT
AUDJPY ---Only LONG
EURAUD ---Only SHORT
AUDCAD ---Only LONG
AUDNZD ---Only SHORT
NZDJPY ---Only LONG
I withdrawal my profits monthly and already I opened two more accounts with the profits and I trade with other strategy to reduce risk.
Martingale strategies was first apply in the casino but it don't work because the player have always the same chances to win or loss.
In the stock market also don't work because a stock can go to the ground or to the roof without respect resistance or support levels but it work very well in the commodity market because a commodity never can go below a certain level. Example if the corn go down below certain level the producer will not produce it below cost, and automatically the price will go up. The key to be successfully is pickup commodities nearly historical lows and buy it all the way down, if you have enough pockets eventually the price will go up because producers will not producer it at loss.
In the forex market free currencies always have support and resistance levels and you will see a pullback at those levels because big traders take their profit at those levels, a system robust like that and with the enough capital is a success with some big losses from time to time. watch it carefully and be ready to close positions or eliminate pairs if something is not right.
Never put all you eggs in one basket.
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hey, what is Orderstoprotect and how do we use it?
thnx
ok...
ok, let me see if i understand this!
maxtrades 10
orderstoprotect 0
0.1
0.2
0.4
0.8
1.6
3.2
6.4
12.8
25.6
51.2 acct. protection is enables at this point
hey, what is Orderstoprotect and how do we use it? thnx
The Orderstoprotect= setting is rather counter-intuitive. It works with the Maxtrades= and Account Protection setting. It goes this way:
(Maxtrades)-(Orderstoprotect)=The number of open trades before Account protection is enabled if Account Protection=1. Clear as mud? Okay, let's look at the default settings:
10 Maxtrades
3 (subtract) OrderstoProtect
7 number of trades needed to be open before Account Protection is enabled if AccountProtection=1 (default)
Okay, let's look at trade levels (depth) , number of orders and lot sizes:
1. 0.1 lots (first trade)
2. 0.2
3. 0.4
4. 0.8
5. 1.6
6. 3.2
7. 6.4 Account protection is enabled at this point
8. 12.8
9. 25.6
10.51.2
When AccountProtection is enabled the system will look to close postions on that currency pair right about the break even point of the previous trade (example: 3.2 lots) during a retracement. The result should be a small profit or small loss and is an effort to protect the account from a position that is trending the wrong way for too long and do so without serious loss.
Hope this helps.
tom
ok, let me see if i understand this!
maxtrades 10
orderstoprotect 0
0.1
0.2
0.4
0.8
1.6
3.2
6.4
12.8
25.6
51.2 acct. protection is enables at this pointCorrect - when AccountProtection=1
tom
Try a higher time frame like H4. Again, the smaller the account, the higher the risk as stated in the readme file. tom
tom,
what is the optimised setting for H4 time frame. do u you default setting in 1H time frame or have adjusted it .
Regard
CF
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sorry for my ignorance but, tmaneavl, where do i put those 2 files you just posted? in what folder...under presetup folder?
thnx
sorry for my ignorance but, tmaneavl, where do i put those 2 files you just posted? in what folder...under presetup folder? thnx
In the experts/presets folder.