10points 3.mq4 - page 327
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@John, since this thread is so big, just wondering if the first post is going to get updated with what seems to be the working solution so far?
also noticed that you have account type set to 1 but in the code, IBFX is supposed to be 2 ?? You still use IBFX?
Are the Trading times in GMT? What market should this be set for? This is probably very important
Thanks
Here is the example for you
Current price 117.30
Buy 0.10 @ 118.00 $-70
Buy 0.20 @ 117.70 $-40
Buy 0.40 @ 117.40 $-10
Current price 117.50
Close buy 0.10 @ 118.00 $-50
Close buy 0.20 @ 117.70 $-20
Close buy 0.40 @ 117.40 $+40
Total balance = $-30
So, its non profitable(besides, spread not count in yet),this means the higher the progression it goes, the more likely you're going to lose more.
Regards
DavidSorry David, I didn't make myself clear. Please forget that 30 Pips thing. Considering ootb settings, what I would like to understand is what makes a progression to close, because if the first trade is in your favor it will close with 10 pips profit (TP set). If it is against you it will start a progression. What condition(s) must be met to make all trades of the progression to be closed? I am sorry if my english doesn't allow me to explain better my doubt.
Regards
Newdigital how much backtesting have you done on these settings?
I backtested during the New Year, then opened demo with Alpari (GMT+1).
I will continue forward testing with this settings as long as I can and will post the statements.
During the GMT night I am forward testing it in automatic way with the settings i posted.
Before I forward tested this EA in semi-automatic way using MACD indicator: it is here https://www.mql5.com/en/forum/174975 and on next page: davidke20 created indicator with alert an i am getting alert 30 -40 minutes before EA will opne the order. It is during the GMT day time.
Loss estimative
It's been a while since I followed this thread, but I still use a lot of 10p3, almost in its original form.
It has been profitable when used properly. I, for once, do not use it all the time, all the week. Two days at most, and on certain market conditions, under which I would judge whipsawing charts.
Here is my question: how to predict how much it's going to lose, if it does at all. When I studied the algorithm, I calculated
all the amount accumulated in the previous (MaxTrades - 1) plus the last trade in a Pips loss,
because it would open MaxTrades trades with Pips difference between them.
Is that correct? Is it suposed to close in a loss with a "virtual stoploss" of Pips pips on the last multiplied trade (?) accounting for this last trade and all other previous trades in this streak?
Does that EA closes them unconditionally or there is some more to it?
Max Loss
It's been a while since I followed this thread, but I still use a lot of 10p3, almost in its original form.
It has been profitable when used properly. I, for once, do not use it all the time, all the week. Two days at most, and on certain market conditions, under which I would judge whipsawing charts.
Here is my question: how to predict how much it's going to lose, if it does at all. When I studied the algorithm, I calculated
all the amount accumulated in the previous (MaxTrades - 1) plus the last trade in a Pips loss,
because it would open MaxTrades trades with Pips difference between them.
Is that correct? Is it suposed to close in a loss with a "virtual stoploss" of Pips pips on the last multiplied trade (?) accounting for this last trade and all other previous trades in this streak?
Does that EA closes them unconditionally or there is some more to it?Depending on the version you are using the following quote is by tururo who created the Dynamic Stop Loss model from which most of the later versions were built. This appears on Page #19 and his original version was posted on page #18.
The way this EA works is to open a new trade when the loss gets to the value of the "Pips" setting (15). It does this until you have maxtrades open and will open no more. Once you get to maxtrades, if the price continues to go against you, your losses are unlimited. The modification sets the stop point at the place where the last trade would reach the 15 pip loss point + the value of initial stop. So, for each of the orders the stops would be as follows if Pips = 15 and InitialStop = 2, MaxTrades = 5:
Let's say your first trade sells at 1.2600
1st trade stop at 1.2600 + 75 + 2 = 1.2677
2nd trade opens at 1.2615
2nd trade stops at 1.2615 + 60 + 2 = 1.2677
3rd trade opens at 1.2630
3rd trade stop at 1.2630 + 45 + 2 = 1.2677
4th trade opens at 1.2645
4th trade stop at 1.2645 + 30 + 2 = 1.2677
5th trade opens at 1.2660
5th trade stop at 1.2660 + 15 + 2 = 1.2677
So when the price gets to 1.2677 all trades closed out at the stop loss. See yeoelevens earlier post for dollars example.
In practice the stops will vary by a few pips.I hope this helps,
John
Set file and TF
This is the version you are trading live? with the 15 min chart?
The others on the 1 hour chart you are running as a demo? Have I got this correct.
I want to mirror your live account with one of mine and see if we get the same results.TF is M15 for both my demo and live but in practice there are small variations between the two, only a pip or two but makes a difference some times. The EA trades infrequently but always opens trades at the same time on both platforms.
The set file is attached below.
John
Update
@John, since this thread is so big, just wondering if the first post is going to get updated with what seems to be the working solution so far?
also noticed that you have account type set to 1 but in the code, IBFX is supposed to be 2 ?? You still use IBFX?
Are the Trading times in GMT? What market should this be set for? This is probably very important
ThanksGood idea, I have updated the first post with info about 10p3v0.02 & 3, where to find the EAs and discussions about the sets and differenced.
I am using IBFX mini for both my current testings and the set works well allowing me a 1c pip for a 0.01 unit.
IBFX uses GMT and the settings reflect GMT times so if a broker is being used which varies from GMT a similar variation will be needed for the set file to allow the EA to trade only as required that is Stop 13GMT and restart at 18GMT
John
Depending on the version you are using the following quote is by tururo who created the Dynamic Stop Loss model from which most of the later versions were built. This appears on Page #19 and his original version was posted on page #18.
I hope this helps,
JohnThanx for saving me from all the trouble looking back to that post, John. Is is preciselly as I forsaw it.
Needless to say this EA is a very dangerous moster to let alone. I was wondering what kind of Money Management you plan on using with 10p3. Since your lot is wisely the minimun allowed by IBFX, I take you are not using any at all, but you sure are going to grow that...
Thanx for saving me from all the trouble looking back to that post, John. Is is preciselly as I forsaw it. Needless to say this EA is a very dangerous moster to let alone. I was wondering what kind of Money Management you plan on using with 10p3. Since your lot is wisely the minimun allowed by IBFX, I take you are not using any at all, but you sure are going to grow that...
I am using the Money Management plan with 10p3v0.02 an option provided with the EA and that is controlled by the Risk setting but even the smallest increase will double the exposure so if it kicks in I will probably change back to a lower Risk setting.
It is very dangerous but with the infrequent trading controlled by the indicator and the timed out non trading periods it is far less likely to get into trouble than the original versions which once started carried on indefinitely.
Also it is just an exercise not the main usage of my live account but with the .01 = 1c pips it was still able to gain over $12 by trading up to .27 and .81 three times each before closing. The higher the progression the greater the profit also the smaller number of pips needed to close but the more nervous for the live account
.
John
I am using the Money Management plan with 10p3v0.02 an option provided with the EA and that is controlled by the Risk setting but even the smallest increase will double the exposure so if it kicks in I will probably change back to a lower Risk setting.
It is very dangerous but with the infrequent trading controlled by the indicator and the timed out non trading periods it is far less likely to get into trouble than the original versions which once started carried on indefinitely.
Also it is just an exercise not the main usage of my live account but with the .01 = 1c pips it was still able to gain over $12 by trading up to .27 and .81 three times each before closing. The higher the progression the greater the profit also the smaller number of pips needed to close but the more nervous for the live account
.
JohnHi yeoeleven
What happens when a progression reach the time out non trading period with trades still open?
Thanks