Goblin "BiPolar" Edition - page 83
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...In regards to losses I just want to be able to keep my head above water avoiding margin call. I don't mind taking some losses as long as it protects the account. This EA makes profits no problems but cuts it fine when it comes to available margin....
Note that Dave doesn't like stops to be used with this EA and in fact, if you don't use stops it will never take a loss until it has to because the account goes bust.
So, my approach is to use levels 1-5 to make a profit, this easily gives you > 90% winners. Level 6-10 are there to get out decently, which means cheaper than simply adding a stop at level 6, but still with a loss. If pipstep settings are big enough one typically is safe enough, but a stop loss at level 10 can still hurt quite a lot ...
Other possibilities are usage of hedge orders, but this is a difficult topic, being discussed over at the Pacman thread. The result is similar: trying to get out of a loser without too big damage.
But never forget: Your signal needs to give you an edge. If you use settings with very high win probability even for random signals, the beast hasn't disappeared. It only waits until you have opened a live account ...
Hey now!
But never forget: Your signal needs to give you an edge. If you use settings with very high win probability even for random signals, the beast hasn't disappeared. It only waits until you have opened a live account ...
Well I think I have good news regarding LIVE vs DEMO with IBFX at least. I'm running this EA on both side by side (3k Live and 50k Demo) and I can tell you the trades are identical. Only difference is I've created a Excel spreadsheet to scale the lot sizes for smaller/bigger deposits.
Can't complain about the attached statement considering the time frame, and we're still only half way through the week... I'm with bluto
..Can't complain about the attached statement considering the time frame, and we're still only half way through the week... I'm with bluto
Note that Dave himself recommends to regularly withdraw profits from a well-growing account. The point is that his settings work well under normal conditions, but there was always an account meltdown when longer backtests were performed.
At latest when you reach 100% profit, play with the casino money only ...
Goblin BiPolar FixedLots
Firstly I would like to thank Bluto, Alassio and David for their work with this EA. Not to mention the others who have contributed. Great work guys
.
I've been forward testing this EA for over 4 months and never ran low on margin until a couple of hours ago where it go as low as 200% and just managed to pull itself out. As someone else has pointed out on this thread 'not for the faint hearted'.
I would greatly appreciate if someone could help me modify this EA to do the following...
1. Within the EA Properties be able to set minimum margin.
2. When Margin falls below a set amount (ie 500%) the EA automatically closes the lowest losing trade/s until the margin = greater than the set amount. So it closes the lowest losing trade > checks minimum margin > if still below set minimum margin close the next lowest losing trade > checks minimum margin and so forth.
Hope this makes sense and I'd rather take some small losses than get the dreaded "Not Enough Money" showing its ugly head and wiping out the account.
Cheers!
Hi, which version and settings are you using?
My approach is to use stops to limit losses, but you need a good signal (giving you some edge) and loose settings to survive the moves.
Others try to add hedging, see the Pacman thread for this. Dave is providing good signals in the Pacman versions.
Hedging is possible but difficult, it has similar effects like my higher level orders that are trying to close out with a decent loss.
It is simply a matter of taste where you want to have your losses, you choose with your settings.
Regards, alassioUsing the version by you "Goblin_BiPolar_FixedLots_alassio.ex4" and settings are from xxDavidxSxx posted a while back.
In regards to losses I just want to be able to keep my head above water avoiding margin call. I don't mind taking some losses as long as it protects the account.
This EA makes profits no problems but cuts it fine when it comes to available margin.
Best Regards!
Quick question, If I increase the pipstep will I also need to increase the takeprofit to make up the differance between the spread of the open orders?
Thanks
Rick
Quick question, If I increase the pipstep will I also need to increase the takeprofit to make up the differance between the spread of the open orders?
Yes. You can do some basic calculation in excel to see what is the outcome after each increment with defined tp and pipstep. Or you can use alassio's spreadsheet, you can find it somewhere in this thread.
Yes. You can do some basic calculation in excel to see what is the outcome after each increment with defined tp and pipstep. Or you can use alassio's spreadsheet, you can find it somewhere in this thread.
Found it
Thanks
Rick
Note that Dave himself recommends to regularly withdraw profits from a well-growing account. The point is that his settings work well under normal conditions, but there was always an account meltdown when longer backtests were performed. At latest when you reach 100% profit, play with the casino money only ...
I learnt very quickly always have a minimum of 2 accounts with your broker. One slow, safe steady growth and the other with fast, riskyer high growth. transfer/withdrawl high growth funds monthly.
I'm definitley not a gambler ...