Goblin "BiPolar" Edition - page 24
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Goblin_Bipolar_Edition2ModF
Hi folks,
This is my demo account since 27/12:
Pair:EURUSD
TF:1H
Lots: 0.01
Settings: default
UseMoneyMgmt: False
Not bad for just 3 days and only one pair!
targetequity
thanks Bluto that makes sense now. so in your opinion what is the best way to limit drawdown on losing trades? also what does the param "protectshort/long" do?
thanks
Hi folks,
This is my demo account since 27/12:
Pair:EURUSD
TF:1H
Lots: 0.01
Settings: default
UseMoneyMgmt: False
Not bad for just 3 days and only one pair!Nice! Not much wiggle room there with that leverage though!
phorex phreak
nice to see that you've created a new "martingale-to-the-moon" progression. sharing the actual progression or formula goes a long way in preventing you from looking like a snake oil salesman. but i guess we'll have to wait... not 1, not 2 but 30 years to see it.
rather than changing the progression, why not scale the pip-step based on the previous days range. this is essentially how pivot points work and pivots are used successfully everyday.
thanks Bluto that makes sense now. so in your opinion what is the best way to limit drawdown on losing trades? also what does the param "protectshort/long" do? thanks
The only way to really limit drawdown is to use proper lot sizing in relation to what your equity is and don't over-leverage. Janus has posted some great discussions on this.You're going to have losing trades - no doubt about it, but the EA seems to work particularly well when you limit MaxTrades to 4 or 5, and use wider stops. Read through this and the Goblin thread as well as the 10Point3 thread for some exhaustive discussions on the account protection scheme and what it does...essentially it just bails you out of a winning trade early to grab some minimum profit.
Nice! Not much wiggle room there with that leverage though!
I'm aware of that but even though If I go live I'd rather start with little amounts... maybe not so little like that...
The real issue on settings
Here is Janus again stepping on the brakes and trying to take some air out of the baloon.
Here are the facts:
All 10point3 hybrids do work with almost any setting during ranging markets or cycles which do not exceed a certain pip move almost perfect.
Depending on the traders equity vs starting lotsize one can get anywhere from 10-30% profit in a week!
But.............!
The day will come, and i assure you fellow traders, it will come again, when the market or specially one currency leaves the range and either breaks out or down with 1 large candle on the 1h charts in exactly the opposite trade direction of the EA, with 150-250 pips, without any reversal(not even 15 pips or whatever the TP might be)
There were several efforts made in the past to overcome that problem, which in 99% of the cases blew the account in less than 1 day(most accounts blow up on that candle=1hour)
All of them, but one , have failed bigtime.
The only solution still is and was to way way underleverage the account, select the right pairs and combination thereof and apply solid chartknowledge(among other things) to the tradedirection of the EA at certain times.(even sometimes switch it off)
I take the current testing during the peak holiday season and very slow markets with a big grain of salt to make a case, that Goblin Bipolar, literally with scalping type settings(pipstep=5-10) could generate consistent returns in that posted magnitude.
I and i hope others as well, want to see this buy/sell routine work during this 1 hughe candle, without blowing up the account.
Personally i am using totally different settings, which make this type of EA behave completly different, which i will for sure post AFTER the boilertest.
Folks, i am running the boilertest on a live trading account NOT on a Demo.Since i run 10point3 hybrids since may, i risk some of my profits for that.
(Assure you, made profits and i did not blow a single account, but only because of luck and leverage)
So no need to worry about me loosing my shirt anytime soon.My test has to go a minimum of 3 month and involves certain changes every now and than.
Whoever expects a "holy grail" result with hughe returns on small equity will be dissapointed. Remember, i am the ultra conservative trader.
Until the next big move in the FX markets, i will be very interested in analysing all of your testing, so keep on posting and testing, like i do.
As this post is a repeat of my opinion, i will you all no longer bother with underleverage and instead concentrate on my settings, which you will hopefully find interesting, but this will take some time.
Have a safe and prosperous 2007 and may the market direction be with you.....
Janus
I'm aware of that but even though If I go live I'd rather start with little amounts... maybe not so little like that...
My two favorite anecdotes are "There's no curb too high for a rental car", and "There's no demo account too small for a margin call".
hey bluto
check this out. a script that pulls data from a forex news server and creates a dynamic .csv file; updating every hour.
nice little automation tool to use if a news blackout file is needed
piptits
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