Cost Averaging System - page 3
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i'm going to be out of town for a few days. I'll leave this running in demo account while I'm gone.
forgive me for being simple minded but I notice that it took a position almost immediately when I attached it to the chart. Also I have yet to see in any of the results posted where it's lost it's first trade after being turned on...is that a valid observation? Heck if it will always win it's first trade I'll just turn it on and off.
good testing everyone.It is almost random entry, and then it cost averages down or up, depending on long/short. Depending on the risk you want to take, it can cost average down one lot at a time or double down, or maybe triple down or anything you want within the broker prescribed limits. I have set it to average down using Fibonacci sequence, just for the heck of it. Hope this clears up a bit.
On a 90% modelling quality backtest the account rises slowly but surely however a huge loss is incurred at the end due to large stops so I feel this EA has potential but more risk management is required. What do you think Maji ? Regards, Lee
I did a lot of back testing to find settings that do not blow account at some point.
Some of them give really good results in back test for aproximately two years with 90% accuracy.
For some pairs I could not find good settings: GBPUSD and GBPCHF
I am starting forward testing with this settings.
all pairs are in M15I don't see GPBJPY in your settings?? Why did you choose M15 instead of something longer? Are you wanting more market noise?
On a 90% modelling quality backtest the account rises slowly but surely however a huge loss is incurred at the end due to large stops so I feel this EA has potential but more risk management is required. What do you think Maji ? Regards, Lee
Yes, the system needs risk management. Right now it has next to nothing. That is something I want input from the testers.
I don't see GPBJPY in your settings?? Why did you choose M15 instead of something longer? Are you wanting more market noise?
This system thrives on market noise. If there was no trend and only noise in the markets, then this would make a killing. However, it gets killed during trends. That is why need to figure out a risk management scheme.
This system thrives on market noise. If there was no trend and only noise in the markets, then this would make a killing. However, it gets killed during trends. That is why need to figure out a risk management scheme.
If that is the case then this runs better in m1 than m15?
I'll think about the risk management question as I learn more about how this works and what creates risk for the system.
I'm having a thought here Maji, if you can figure out what gives the 3rd trade in the series of 5 trades in this EA it's 87% win loss ratio....
https://www.mql5.com/en/forum/trading_systems
perhaps you could incorporate some of the same logic into this EA?
Aaragorn,
I will try to find some good settings for M1.
For this kind of system I think that the pip step and take profit parameters are very critical and should be adjusted to every pair
Forward testing
Still with the original settings, 20 hours on.
John
Gosh... the markets been so whippy lately, and my breakout systems are crying in pain. However, this system seems to love these crazy markets... it is kind of masochist... loves that pain
I have incorporated a stop loss scenario in the EA. It will liquidate all positions if the open loss is above say 10% of the account equity when the position was first opened. Hope this helps a little.
If you have the old version, please email me and I will send you the revised version. It will have the same magicnumber, so you can just remove the old ea from the chart and add this revised ea over the weekend. It should continue without problems from Sunday evening.
Thanks.