Big Profit Without Using Any Indicator - page 11
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The only way to survive in Blessing game is using big ST and TP, much bigger than spread. Try to put 100 for TP and SL and your chances will be much better.
Timbobo, IMHO your EA is not replaying the exact strategy here. I try it on strategy tester and each time a TP is hit the EA closes both open and short position. This is not the case of Blessing system because if you start and the market go down 20 pips you only will close the short side, keep the long open and open a new long of x2 lot size. This makes you save in spread.
Probably you are right, I did not get right understanding. EA use 20 pips TP and SL, so it keep the system out of mess.
If market goes down when do you close your first open long? You add new doubled long (so you have 3 lot size longs open). Market goes down, then you add again doubled long and keep all previous long open, so it will be 7 lots open and you are still on third level. If market keeps going down a little more will get:
1 - 0.1
2 - 0.1 + 0.2
3 - 0.1 + 0.2 + 0.4
4 - 0.1 + 0.2 + 0.4 + 0.8
5 - 0.1 + 0.2 + 0.4 + 0.8 + 1.6
6 - 0.1 + 0.2 + 0.4 + 0.8 + 1.6 + 3.2 = 6.3 lots open long
There is more risk than in pure Martingale.
And all these stuff will not save you a spread as you open the same number of orders as my EA. It does not matter when you close - you pay spread on openning.
Daniel,
Try to use EA for one day only. You did not mentioned at what time you started your Excel so I tried 29.01 from 0 to 24. Your result would be -$37. But on some stage, after 16 orders - if you stop there, you would have +$59.
If you explane me what to do with first, second, third,... opened longs on falling market, when to close them, I'll modify the EA to fit the strategy proper way.
Thank You
Timbobo : Thank you for making the EA
. it's almost near the system.. but there are some critical point you don't understand. Once more i apologize for confusing pdf that i made.
Here some point you don't set in EA :
1. I never told to put the SL.
2. At the start time the buy and sell position open 8 level at the same time. So it doesn't make one by one.
3. Profit yes, it is 20 pips
4. in forward run, If one of position, hit so all pending order at the same position would be deleted. And reopen 8 level again start from level 1.
5. in forward run, if one of position, execute one of level so the Take Profit of above levels should be modified, ex : level 3 executed.. so TP of level 1 and 2 must be modified.
Here the example of starting chart.
once again thank you.
Sorry, but I still miss the point - If you don't have SL, so when to close losing order.
Let's try to make it step by step and pls without pending orders as they make the mess and hide the truth:
1. Open 1 lot long and 1 lot short with 20 TP without SL
2. Market goes down. Short closes by TP, which means we got level 2.
3. Open 1 lot short, open second long but with doubled lot - 2 and TP 20 and fix TP for first long to the same level as second long.
Am I right? If so, it does make sense.
I'll fix the EA shortly. But I don't beleive it will not change the general strategy risk and profitability.
System
We Must Open 8 Level Pending Order buy and sell.. And Lot of next level is not 2x before...
Here the level :
level Pos Lot Price Take Profit
1.... Buy 0,1 1,9500 1,9520
2.... Buy 0,1 1,9480 1,9500
3.... Buy 0,2 1,9460 1,9480
4.... Buy 0,4 1,9440 1,9460
5.... Buy 0,8 1,9420 1,9440
6.... Buy 1,6 1,9400 1,9420
7.... Buy 3,2 1,9380 1,9400
8.... Buy 6,4 1,9360 1,9380
ex spread : 3
level Pos Lot Price Take Profit
1.... Sell 0,1 1,9497 1,9477
2.... Sell 0,1 1,9477 1,9557
3.... Sell 0,2 1,9457 1,9437
4.... Sell 0,4 1,9437 1,9417
5.... Sell 0,8 1,9417 1,9397
6.... Sell 1,6 1,9397 1,9377
7.... Sell 3,2 1,9377 1,9357
8.... Sell 6,4 1,9357 1,9337
We can modified the level higher or lower lot. But here the basic in order to make it easier to code.
Why we should open 8 level.. because sometimes the price move fast up or down. So it will protect the level easily.
As you see if the TP hit all pending order in the same position will be delete. and if next level are executed so the TP of above level must be set to the current level.
Thanks you
We Must Open 8 Level Pending Order buy and sell..
...
Why we should open 8 level.. because sometimes the price move fast up or down. So it will protect the level easily.You are right if we are talking about real trade but for testing purposes I don't care about fast movements - tester will take them all and execute all orders proper way. I just want to see how it works in long run on real history.
Here it is an updated version of EA - it does not close anything but modify all orders to close them all the same time with the biggest by TP.
First results of testing:
1) 8 levels not enough. For last year on GBPUSD the EA had to open 51.2 lots to keep going which means 0.1+0.2+0.4+0.8+1.6+3.2+6.4+12.8+25.6+51.2=104.3 open orders - it's madness.
2) Spread hits badly - all those big losses in balance on the graph, they are just spreads.
Modify
you should modify again.. just follow my explanation. thank you
you should modify again.. just follow my explanation. thank you
What's wrong with version 2? As far as I can see it does follow the logic of your strategy. It even makes results similar to what Daniel had for two days in manual testing.
hi rifo,
is it correct to say that your system will "believe" that in any pair, for every 160 pips price movement in 1 direction there will be at least once a 20 pip retracement? and once this retracement is hit (or at any point within the 160 pip movement), all of the previously opened position that was in the direction of the retracement will be closed as well? those positions that were opened "correctly" in the underlying price direction will follow the TP of 20 pips?
at least the recent 300+ pip drop last week (within 3 hours) on the GBPJPY holds true.