10points 3.mq4 - page 96
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I will continue to use it and believe that it will withstand stronger trending markets but may fail with continuously ranging markets.
Allowing the MaxTrades10 setting and setting the AccountsProtect to 0 will, providing the account can stand it, require a continuous movement with almost no retracement to defeat it.
explain what you meanWhat I mean is that if the market ranges in either direction for over 150 pips without any retraction then the EA can reach the MaxTrades10 and close with a loss if it started its sequence at the start of the range.
I am expecting that will happen very rarely and has a 50% chance of being in the right direction to profit from the range. I have been caught once with a loss since August and that was because I didn't understand the AccountProtect and the OrderstoProtect options and the EA closed off at the 7th sequence overriding the MaxTrades10 setting.
If the movement has a retraction during its progress then this EA can close off with a profit as demonstrated with the previous GIF
John
ranges without a retraction?
if its "ranging" without a retraction its called a trend. please see attached material.
suggestion
I am fully aware that this EA is dangerous that is why I am still using a demo account whilst trying to find the safest way to handle it.
After working and reporting for 4 months with others to improve the settings and now posting the last month's $2000 profit I would appreciate your comments to assist us all in that endeavour.
If you have something positive to contribute to this thread please do so we would like to hear from you.
Johni think that a good way to reduce the risk would be to "suspend" the expert during news release period (for example 30mn before release up to 2 hours after - to be adjusted). In this way it would avoid being "trapped" in majority of big trends.
Ranging
if its "ranging" without a retraction its called a trend. please see attached material.
Thank you for that pdf document it has helped me to understand some terminology and also select different pairs for testing.
From reading the Range Trading Guide I will forward test the following pairs:-
EURJPY CHFJPY EURGBP & EURCHF
Time will tell but hopefully we will come closer to an EA that will be less likely to reach the MaxTrades10 progression and still will offer profit.
John
i think that a good way to reduce the risk would be to "suspend" the expert during news release period (for example 30mn before release up to 2 hours after - to be adjusted). In this way it would avoid being "trapped" in majority of big trends.
If the EA was suspended with no current trades then it could not be trapped.
I have found that in almost every news announcement (NFP being the exception and always being on Friday) the EA will take advantage of the inevitable spikes and retractions and end up having profited from the announcement or be in a position ultimately to close in profit.
John
Thank you for that pdf document it has helped me to understand some terminology and also select different pairs for testing.
From reading the Range Trading Guide I will forward test the following pairs:-
EURJPY CHFJPY EURGBP & EURCHF
Time will tell but hopefully we will come closer to an EA that will be less likely to reach the MaxTrades10 progression and still will offer profit.
JohnJohn,
This EA can kill you once a while when trading pairs that tend to trend a lot. This is the case for almost any pair with the USD on either side of the pair. As you have indicated above the cross currencies are more range bound and have a better chance of getting you out of a sustained loosing trend. I must admit that I have used your last setup trading 4 USD top pairs with the GBPUSD being the most dangerous and the most profitable pair. I relate that to GBPUSD being the most volatile.
One note of cuation is that with cross pairs some adjustment to most probable S/L and T/P will be needed to get you in and out relatively easy.
Also, refer to DailyFX.com for a wealth of information on volatility analysis on major pairs and other good stuff.
Keep the the good work!
Go Gators!
this EA can be successful if a programmer can code more details about MACD. I trade manually, when i see current MACD bar higher than 0.0015 or 0.002, i will turn on the EA, but have to wait H1 candle closed. The current EA entering market when current bar is lower than previous ( SELL ) , higher than previous ( BUY ) so we must wait until it close.
If the EA was suspended with no current trades then it could not be trapped.
I have found that in almost every news announcement (NFP being the exception and always being on Friday) the EA will take advantage of the inevitable spikes and retractions and end up having profited from the announcement or be in a position ultimately to close in profit.
John------------------------------------------------------------------------
John (yeoeleven)
Merry Christmas and Happy New Year!
Sincerely,
rswamy4449
Settings
John,
This EA can kill you once a while when trading pairs that tend to trend a lot. This is the case for almost any pair with the USD on either side of the pair. As you have indicated above the cross currencies are more range bound and have a better chance of getting you out of a sustained loosing trend. I must admit that I have used your last setup trading 4 USD top pairs with the GBPUSD being the most dangerous and the most profitable pair. I relate that to GBPUSD being the most volatile.
One note of cuation is that with cross pairs some adjustment to most probable S/L and T/P will be needed to get you in and out relatively easy.
Also, refer to DailyFX.com for a wealth of information on volatility analysis on major pairs and other good stuff.
Keep the the good work!
Go Gators!I agree that a fresh look at settings is needed especially TP and PipStep.
As far as SL we have the Dynamic Stop which is activated after the MaxTrades sequence has completed and that is affected by the Initial Stop and the AccountProtect options.
If we are in a market that has reduced volatility then a pulling back of TP & PipStep will keep us still in the action. I am not anxious to reduce MaxTrades the reason for looking for less volatile pairs was to maintain MaxTrades10 but with more safety.
I will start forward testing the cross currencies with a reduction of TP from 20 to 15 and PipStep from 15 to 10 and will review as trading progresses.
Thank you for your comments and any suggestions for changes to the settings will be appreciated.
John
Rather than increase my TP setting I removed the 1.5 progression.
To print off a detailed summary first use the option to select the correct time period by right clicking on a history entry.
I prefer that the history is in pairs sequence so that I can easily see progressions so I click on the Symbol at the top of the pairs column.
Right click again on a history entry then select Detailed Summary and give the summary an appropriate name and file location.
Highlight the URL and enter it into the Manage Attachments location in the Reply to Thread to post it to the forum.
All that information is then on your hard drive so open it and use the printer options to print it out.
JohnDo you mean I go into the History Center? Where is the History Entry?
Thanks
EDIT: I think I got it. But it doesn't show my settings for the EA