10points 3.mq4 - page 335
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
10p3v002 live statement same 0.01 lot has different $ losses
Jim,
I am not sure why the trades closed off when they were involved in the progression will you check your settings? My demo account has never done that it only has closed off in profit.
My account has problems right now and I am hoping that a return in prices will allow it to survive. When the progression eventually either returns to profitability or hits the margin call I will post the detailed statement.
The answer to the different closures lies in the progression, the first loss occurred in a progression that went to .27 and the second progression went to .81. Clearly the longer the progression the more distance the first trade has to travel.
JohnHi John,
If by progression, you mean 0.01 to 0.03 to 0.09, etc. I understand you, but I don't understand why the first 0.01 lot sell in a progression is -0.13 and the first 0.01 sell lot in a later progression became -0.78. What caused the increase?
Many thanks for advising.
Best,
forexjim
Differences
Hi John,
If by progression, you mean 0.01 to 0.03 to 0.09, etc. I understand you, but I don't understand why the first 0.01 lot sell in a progression is -0.13 and the first 0.01 sell lot in a later progression became -0.78. What caused the increase?
Many thanks for advising.
Best,
forexjimLook at the slippage you will notice that the first progression closed off in the opposite direction giving the effect of a smaller loss but the second gave a greater loss. Then look at the effect that the extra progression makes to the difference that the trade moves before closing. Just go through each progression and look how far the price has had to move in the first progression the pips moved 16 but the second moved 21.
Above are two reasons why there is a difference between the closed pips but all that is academic because the first trade should not have closed off at .27. Check the settings or did you manually close the first trade?
John
Hi, Yeoeleven,
Could you advise why the same 0.01 lot sells had 7 times loss difference (circled)?
Many thanks.
Best,
forexjimHi forexjim,
After looking at your statement, I notice your deposit is only $100. That is not enough to open a 6th level at 2.43 lot. From my experience, you will need something like $250 in account balance to have enough free margin to open a 6th level. Double check by clicking on the Journal tab and look for red errors with the message "order sell 2.43 EURUSD opening at .... failed [Not enough money]"
Without a 6th level open, the group will have to rely on the last opened trade, which in your case the 5th level at 0.81 lot to recover. Obviously this is not the case thus the whole group suffer a loss.
With Pips=5, and deposit of $250, you can open up to the 6th level. Which means to say, if the market move against you for more than 30 pips (6 x 5) without recovering, then you will be in trouble. In order for the EA to give your profit with the setting that you use, you will need to trade during times where the market does not drop more than 30 pips straight. For the EURUSD, this period will be mainly in the evening after New York closes. Trade during this time, and you should be fine. Also, avoid news days and stop trading before London opens in the morning.
The loss that you have incur is at 1.30pm GMT today (January 24th). Today is not a good day to trade in the daytime because of three major newsbreaks: 1.30pm GMT Unemployment Claims, 3.00pm Existing Home Sales, and at 4.35pm ECM President Trichet Speaks. Market calmed back at around 6pm GMT. To get the latest news, go to Forex Factory - set the calendar and filter to show EUR and USD currencies, as well as the Red alerts. This will then list the "danger times" where you should avoid trading, unless you are using an EA that specifically take advantage of market spikes. Unfortunately 10p3 does not.
Hi, Yeoeleven,
Could you advise why the same 0.01 lot sells had 7 times loss difference (circled)?
Many thanks.
Best,
forexjimAccording to your statement, that is a very disasterous scenario. The 7times losses is because of the 0.81lot unsuccessful to close with profit, therefore you also loss almost 70% of your account. I'm sorry for your loss. I'm well aware that people are eye opened by John's forward testing on M15. Bear in mind that M15 haven't go through any optimization test. No doubt, testing on M15 shows to be more profitable in short term. But also have the risk of shorten the trading lifespan. Like I said previously, v0.02 is likely to survive 1 ~ 3 years in backtest with H1. With the same condition to trade on M15, its almost devide the probability by 4. The chances of getting a margin call from 1 year time became 3 months!
Refering to John's start testing date, that is like 28th November, 2007 until today almost 2 months. It blew up just like expectation. And this is the most bad luck you're facing that you started 1 day before the DEAD line. In my opinion, by running v0.03 should be more safer.
About 10poine3ke20, that is the earlier version that I changing the EA to make it suitable to use in IBFX's nano account. Multiplier of double down is in place for the 1st time. The behaviour of the EA will change according to the Multiplier(which also have in this version). By changing the Multiplier to 1.64, the EA will behave as below:
0.10
0.16
0.27
0.44
0.72
1.19
1.95
3.19
I never update Forex Factory anymore as their member do not provide backtest/forward testing and input for me. Unlike in TSD we have numbers of contributor who willing to share their ideas. No point to do all the hard work here in TSD and share the pie in FF. Atleast if they wanted to have a taste of our work, they'll have to come in TSD and read the few thousand post here.
Again, I hope you can put the EA on demo testing for a while before you decide to throw it in live account. Its a waste that I saw your 70 bucks get wiped out. The same feelings as the wooden chair's nail got loosen, when sit on it, it accidently bid on your testical.
Meanwhile, still trying to furthur develop v0.04
Regards
David
I didn't realise you use this on your live account, forexjim. I am sorry for your loss.
I would like advise everyone to intimately know this EA before putting it on live accounts. You need to understand what the settings are, what they do, how do they do it, what kind of market is best suitable for the settings that you use, and most importantly, what kind of market that will wipe your account clean.
Do a thorough risk assessment before you are happy with the settings. Plan carefully the time and currency to use and make sure the market during that chosen time is suitable with your settings. If you do this homework, the EA will generate profits easily.
Ok now lets look at the settings that you have used. I think you copied John's settings which are Pips=5 and Multiplier=3. Use a simple Excel spreadsheet to calculate how many order levels can you open with your account balance. Can you open a 6th level? 7th perhaps?
Once you have determine this, calculate how many pip lost it will take to open that last level. This will be L in the graph below. To recover from this loss, the market will need to move back up again with r amount of pips to close the group in profit or break even.
L is basically the maximum number of trades you can afford multiply the Pips value.
r is approximately equivalent to the Pips value. Although a more accurate calculation can be done using Excel depending on your OrdersToProtect level. But as a rule of thumb, r is about the same as Pips value itself.
Now, look at the market. Scroll back the chart and carefully look the trends on how they behave daily, weekly, and monthly. Usually pairs like EURUSD and GBPUSD have a pattern. There will be periods of calmness usually when the western hemisphere is sleeping, and there will be periods of volatility.
Look at the curves that looks like the one you can afford. For example, if can afford to open only 5 trades, then look at where L = 30 and r = 5. Jot the times where these areas exist down in your notebook or journal. Avoid times where L is larger than 30 without having r to back it up.
Experiment with different settings to suit different market trends. If the period between noon and evenings sees a regular pip movement of around 100, then perhaps set your Pips = 20. I don't know. Try and experiment.
You also need to know what scenario that will cause your account will be wiped out. Most brokers will terminate your trades automatically if your account balance has depleted to half, so use this as a guide. How many pip drop will incur before your account balance halved? Once you have determine this, look at the charts again to avoid areas where this occur. Adjust your setting if you still want to trade during these hours. If you think Pips value getting too large, try making Multiplier smaller. With a smaller multiplier, you can afford to open more trade level. But again, with the multiplier being smaller, it will take more effort to recover, so r gets larger in the chart. Look at the graphs again and see if there is a match.
There is no "universal setting" that can be used 24/7. Try to run different settings for different times of the day. For example on StartTrade = 0 and StopTrade = 8, you can use Pips = 5, and for StartTrade = 8 and StopTrade = 14, use Pips = 10, or Pips = 7, Multiplier = 2. You can do this by opening multiple charts of the same currency. On each chart, attach the same EA, but with different settings. Make sure the Magic number on each chart is unique to avoid them getting confused. Or to be safe, avoid volatile periods altogether.
Maybe 10p3 is not suitable for certain periods of time. For example, in my tests, I use 10p3 between the hours of 0000 to 0600 GMT using John's settings. Between 0600 and 1000, I use another EA which I wrote myself (see the Manual Trading section). I am yet to find a good strategy to tackle the market during New York open. I have a few ideas, but this is discussed in another forum.
Plenty of homework, research and analysis, and you can turn this EA into a winner. Haste and impatience will burn your account real fast.
10p3v002.
Hi, Yeoeleven, davidke20, and Azmel,
Thank you so much for your advice and teaching.
1. I did not manually interfere with the EA. the exact 10p3v002 and John's preset were used. I think Azmel is accurate that the 6th level could not be entered into because free margin was not enough.
2. Azmel is absolutely right I need to do a lot of testing and understanding before jumping in drunk.
3. Looking at the live statement, the losing sell progression was -0.78, -2.25, -6.39, -17.82, -49.41. Earlier there was a winning sell progression -0.13, -0.21, -0.09, 1.62. Is there a way I can set the 0.01 lot trade to be always at 0.13, not letting it to have a chance to become 0.78 or higher?
Many thanks again.
forexjim
my result of 10p3 v003
setting all leave by default TF30M...
I have had good luck this week and last using John's settings (Can post statements if you request) and I totally agree with Azmel in regards to staying away from trading this EA during the big move markets like the Europe/London market and watch News times of course.
I'm going to change settings next week to trade only 20:00 GMT to 07:00 GMT, should continue to do well. Does everyone agree with these times?
I have had good luck this week and last using John's settings (Can post statements if you request) and I totally agree with Azmel in regards to staying away from trading this EA during the big move markets like the Europe/London market and watch News times of course. I'm going to change settings next week to trade only 20:00 GMT to 07:00 GMT, should continue to do well. Does everyone agree with these times?
According to my experience, the EA should work fine on all time with H1 except US session ~ london closing. I wish you guys all good luck. For Rudi, please withdraw your money since you already doubled it. Cant imagine what happen next. Always remember to keep the seed money just prepare for the worst. Wanna grow account? Sacrifies comes 1st. Wish you luck.
Regards
David
10p3v0.02
I was using LogMeIn from a remote computer and found that my small demo account has eventually closed off in profit. My live account unfortunately hit a margin call and the 2.43 trade was closed off costing me quite a few dollars but fortunately with that trade removed the price was able to drift even further and then allowed to return and close the remainder in profit. I was also able to assist the live account by trading it manually on the way back.
I will post the detailed statement for the demo account when I return to my PC. The message I have learned from this is that it will be better to limit the MaxTrades to 5 so that after .01 .03 .09 .27 .81 the trade will continue but not progress to 2.43 and hopefully as did my demo account it will weather the storm.
Thanks to all who are working toward taking the sting out of these versions of 10p3. Hopefully we all will benefit from their efforts.
John