**Steinitz** Method Revealed Here - page 84

New comment
 

General announcement !

My programmer Lee is getting some emails from another alleged programmer that is demanding our code or he will attempt to build his own and claim it is his. I have promised Lee to keep this proprietary as he has added some innovative MTF programming that he wishes to protect.

As you know there are plenty of EA's on this site that are free and there are threads dedicated to commercial use. To each is own and I need to respect that. There are programmers on here that will lend a hand for free and some that openly charge for their services.

When the dust settles it really doesn't matter one iota if something is free or not. If anyone on here comes up with a really good EA I will be the first in line to pay thousands of dollars if asked for the license to use it. I have spent much more then I care to think about in the early trading days and wished I had this site to learn from.

So in closing please respect Lee's wishes, to let all of you know that he is working very hard to make this EA as profitable as possible while keeping drawdown at a minimum. We are still working on the drawdown issue. Please don't be fooled by any other EA built around this idea unless I comes from me.

TIA

 

Black on Green Chart

Hi Steinitz;

Try this template and indicator

Daniel

 

J_TPO Indicators

I found these, let me know if they do what you need.

Cheers

Daniel

 

Please Answer this Guys!

I really want to be understanding this method of Your Steinitz....are these indicators right? Is it all of them? Also, why is the 4TF-Has and 4TF-Has2 not working. One is blue other is red. Why?

Files:
forsteintz.jpg  177 kb
 

Dan,

Delete HAS_bar2. Now, drag HAS_bar2 from navigator window to HAS bar window.

 

Dan,

Read the thread from the very start. All the set-up issues, methods are dealt with and you'll have no problem.

Dan7974:
I really want to be understanding this method of Your Steinitz....are these indicators right? Is it all of them? Also, why is the 4TF-Has and 4TF-Has2 not working. One is blue other is red. Why?
 

Some thoughts

This is obviously the key issue of trend trading, whether you use and EA or manually trade this method. A top down approach will always be unable to get out of a deeper trend reversal situation without significant loss, than if you were trading from bottom time frame up. Using the HAS method manually I look at fibs on higher time frames, as potential trend resumption after a reversal from the main trend, to either get back into the market or, if a significant fib level broken, to get out of a trade. (see the jacko thread on FF).

So, what to do with the EA. Seems plausable that your position could be terminated from the next higher time frame from entry. So, if you use your 4hour as the main trend and the EA gets you in on the 30min time frame, when the hourly shows a reversal bar against the 4hour trend, it terminates the trade, getting you out with limited loss.

The only problem I can forsee is if the EA gets you in at an ever lower time frame such as 15 mins the position terminating at 30 mins time frame. Such a senario, whilst getting you back into a trend at an early level, is obviouly more prone to whipsaw price action more so than the higher time frames.

Another possibility is to divide your 4hour chart up into quartiles based upon previous price action divided between round numbers such as 1.3400, 1.3500 etc for example. Each quartile (at 100 pips per quartile or pips of a traders choosing) represents the level of risk willing to make per trade. So at the lower quartile more lots would be traded than those at the upper quartile. Should the upper or lower quartiles be broken then a shift in the grid would have to be made and lot sizes for the revised quartiles adjusted accordingly.

Using this method one's level of risk can be phased out the higher the trend becomes. The higher the trend the greater potential for deeper reversal. And when the the 4 hour time frame does catch the reversal the EA would have to recognise a grid reversal, i.e. the reversed exposure to risk with regards to Lot size, i.e if the trend reverses in quartile 4 for and the 4 hour time frame recognises this reversal whislt in quartile 4 then the exposure to risk would be recognised as a grid reversal, so quartile 4 becomes 1 (or 3 becomes 2, 2 becomes 3, 1 becomes 4).

More conservative traders may want to limit themselves further on retracements against the more dominant trend of the weekly and monthly time frames. Flexibility to risk exposure would, either way, using the grid method to risk exposure put the trader at an advantage when it comes to reducing losses using the HAS method.

How to programme this into an EA? Who knows.

redleg1277:
There is no missing data from Jan 24th to Apr 13th, in this back test the EA traded without a stop loss and the EA must close its open trade before opening another trade in the opposite direction. With only a hit of the target to close the trade it took until the April 13th for price to reach the target of 1.9853. The EA bought at 1.9833 and high for Jan 24th was 1.9835ish. The low for the period from Jan 24 to Apr 13 was 1.9182, so the EA had a draw a down of 651 pips. If the back test had not closed the last trade, today it would be over 200 pips in the hole also. Obviously, any trader monitoring his trades would have closed these trades when the long term trend changed or just based on time in trade. The loss would have easy been recovered by allowing the EA to short after closing those long trades. A stop loss of some sort needs to be added to allow the EA to close a bad trade, otherwise it will forever trade only in direction of its first trade and spend long periods long at a high or short at a low. Redleg
 
fxshadow:
At the completion of the candle, the last square on the bottom row of the MTF HAS will give you the trend for that TF. If you have the 4 hr TF selected, then the 4 hr trend at the completion of the candle will be the color of the last square on the bottom row of the MTF.

Thanks for your answer

David-T

 
proverbs:
David-T,

So even 1 square on the 4 hour row can define your trend if your basing your main trend off the 4 hour row however, the more continuous squares of the same color in that row, the stronger or more dependable the trend in that direction.

Hope that helps.

Hi Proverbs

Thanks for your reply it was very helpful. Please could you tell me, what is the minimum number of bars on a trend before you would enter the trade.

Many thanks

David_T

 
humble_trader:
Dear Trader_for_Christ,

Are you trading manually ? or have the EA Ready ?

Regards

Humble

Oh, sorry for the confusion, that was Manual Trading ONLY. 211 Trades in ONE day.....If anyone can do EA then that would be great.....

1...777879808182838485868788899091...112
New comment