Here's the new "Goblin" ea...little brother to Predator - page 71
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My account protection is as follows...
withdraw winnings frequently.
keep only enough in account to run EA with out margin call.
If orders are left open with positive interest, let them ride and collect interest along the way.
If orders are left open with negative interest, consider closing positions(depending on my own market analysis)
With an ea like this, about 2/3 of your account can be at risk at any given time.
You know every one is told, don't put more in your trade account than you can afford to lose. If busting an account hurts you than reconsider another type of investment.
I belive with goblin,prediter, terminater and others that trade like this is not good to use a s/l.
Dave
I have placed GoblinFibo1.2 over Goblin1 and used settings similar to the ones used for Goblin1 that it has over written.
I have carried the weeks results together and posted a detailed statement below.
The settings used are:-
TakeProfit=20.00000000
Lots=0.01000000
InitialStop=1.00000000
TrailingStop=10.00000000
FiboProgression=0
MaxTrades=13
Pips=15
SecureProfit=10
AccountProtection=0
OrderstoProtect=0
EquityProtectionLevel=4000.00000000
MaxLossPerOrder=0.00000000
ReverseCondition=0
StartYear=2005
StartMonth=1
EndYear=2050
EndMonth=12
mm=0
risk=12
AccountisNormal=1
Magic=123987
Still carrying on the good work and now showing over $400 Closed Profit for the 3 days.
JohnHi John.
You state that you placed the Fibo over Goblin. I just want to understand the concept on the terminal side. I have both EA's Goblin and the GoblinFIbo (or is it one EA). Which EA is making the decisions, Fibo or Goblin
Please also take a look at the previous post I made to Bruno with regards to the EA making a quary on pip spread. Do you think this will enhance the performance or have negative influance.
I only started reading the thread three days ago and dont as much testing time in it. Would like you insight before I start working on the pip spread code
Thanx
The Source
I guess USD/CHF is not the currency to go with since over the past two days it's been my major losses of $1100
Goblin & GoblinFibo
Hi John.
You state that you placed the Fibo over Goblin. I just want to understand the concept on the terminal side. I have both EA's Goblin and the GoblinFIbo (or is it one EA). Which EA is making the decisions, Fibo or Goblin
Please also take a look at the previous post I made to Bruno with regards to the EA making a quary on pip spread. Do you think this will enhance the performance or have negative influance.
I only started reading the thread three days ago and dont as much testing time in it. Would like you insight before I start working on the pip spread code
Thanx
The SourceWhen I placed Fibo over Goblin it effectively removed the original EA so the decisions from then on were made by Fibo. If you look at the GIF there was no undue interference to the progress that is because I tried to make the settings initially as similar as possible to the first EA.
As far as using a variation of the pip spread to indicate a potential news announcement I agree that it could make that assumption but apart from NFP I am happy to trade this EA through any news announcement, I would want to take advantage of any customary spike and retracement whilst trading the announcement and consider that if the widening of the pip alerted the EA and it closed down then an unwelcome loss could follow. If it just disabled the EA and allowed the trade to continue that would be also unsatisfactory and further loss could ensue because the features of this EA allowing it to close profitably and then take advantage of further profit would be removed.
This or any other EA can not take into consideration every trading situation and I prefer to close down each pair manually in profit prior to the weekend and also the NFP. Those are the only times when I manually interfere with the EA and it is not too much trouble to take that action during each Friday's trade. In my opinion closing down a pair when in profit during Friday is the best way to preserve overall profitability and if some opportunity for further profit is lost then so is the opportunity for larger loss.
These are my thoughts on forward testing of the 10points3 series of EAs and I first started during August and later embraced the Dynamic Stop modification. All my testing has been done on demo accounts and hope to be ready to go live with the safest version during January. Everything comes down to one denominator with Martingale type of EAs and that is the size of the account it operates from and my search is for the version and the settings that will operate safely on a mini account of $1000 and if I have to remove all but one pair to achieve that then so be it.
John
Usdchf
I guess USD/CHF is not the currency to go with since over the past two days it's been my major losses of $1100
So much depends on just when the EA was opened and a couple of minutes either way can send this EA off in a different direction and the position of the trade when a major change occurs will determine the outcome.
I would look at your settings rather than the particular pair involved it could be that your MaxTrades are set low and you are not giving the EA room to move before it closes down your trades.
Posting a detailed statement together with your settings may result in beneficial comment, you say your major loss and that suggests that there have been other losses if that is so there is something wrong somewhere.
John
With Goblin_Options, I have reverse on trend enabled, but it opens always trades in the same direction.
What does it need to reverse ?
Thanks in advance.
So much depends on just when the EA was opened and a couple of minutes either way can send this EA off in a different direction and the position of the trade when a major change occurs will determine the outcome.
I would look at your settings rather than the particular pair involved it could be that your MaxTrades are set low and you are not giving the EA room to move before it closes down your trades.
Posting a detailed statement together with your settings may result in beneficial comment, you say your major loss and that suggests that there have been other losses if that is so there is something wrong somewhere.
JohnWhen is the best time to start it? I'm using an old Goblin version as well so maybe that is my problem as well.
I guess USD/CHF is not the currency to go with since over the past two days it's been my major losses of $1100
I dont think its the pair as such, but the current market condition of the pair. That is, this type system is best traded on a currency pair that is in a ranging condition. It is, as well the saftest condition to trade with this type of system. When your in a trending market you better be on the right side of it or you have some large losses. The worse market condition to be in would be a very tight range where your position would just linger on till the price brakes out, hopefully in your direction!
What really gets me is that most people want they EAs to function in all market conditions but make no previstions to have the EA adapt to those conditions. What I mean is they want to make it robust as they say that its profitable or at least holds its own in the worst of conditions. But to do that you have to water it down the best of times to acheive that safty level. At the end you have an EA that is half ass in most conditions. I have always writen my EAs in view of the market conditions it is most adapted too. If the EA then examins the pair current conditions and to trade or not, based on that. Granted, your not trading as much but your chance of profit is that much better. Trading is hard to begin with, why do we have to continually be beating ourself on the side of the head with a brick, take the easer route.
The CockeyedCowboy
why not combining the entry level with a condition to minimize the risk being on the wrong side such as this:
sell only if rsi >= 95
buy only if rsi <=5,
in addition to the jrsx/jvel indicators conditions.
or using another good momentum indicator rather than rsi one.
With Goblin_Options, I have reverse on trend enabled, but it opens always trades in the same direction.
What does it need to reverse ?
Thanks in advance.Internally, Goblin (as it is now) always checks the trend before it starts a new trade-order cycle and places all trades in that direction until Maxtrades is reached and the cycle starts again. That Reverse setting simply tells the EA to trade countertrend to whatever the trend signal is determined to be before the new cycle starts....once the cycle starts, all trades will be placed in whatever direction that is until Maxtrades is reached or the cycle closes out in profit, whichever comes first.