MiniMe // Blazer - page 15
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Good advice
Don't start out with a breakout expert, they are hard to trade and to understand for someone that is new. You have to follow the market and have some idea of what the market is doing to attempt a breakout strategy.
I recommend you start with a trend following strategy. Or trend following expert. They are safer to trade, and easier to understand for someone that is starting out. There are many all over tsd.
Don't rush things, in this business you have to be in it for the long haul. If you think you are going to get rich quick, that's not going to happen.Thanks for pointing out these points.
Actually, what I'm looking for is not an automated system, for which I'm not sure if that would work in the long run, I'm looking for an EA to follow trend channel, e.g. an EA based on Andrews Pitchfork, sth lik that, I'm pretty new for this EA field, don't know much about that.
Jeandl
TMLM is the closest thing to that, I haven't seen any pitchfork EA's and you can't use TMLM on andrew's pitchfork.
Try the ninja turtle that mikkom mentioned. I not very knowledgeable with break out methods btw.
Thanks
IMHO breakout experts are really good in longer TF trend following (and i mean minimum of D1), especially basic donchian channel and almost nothing else. Why? Because donchian channel breakout is basically a definition of a trend, a higher high or lower low.
There is one EA on this forum that I have recommended as a breakout expert and I'll do it again: ninjaturtle (or something like that). It's downloadable from some thread and it works even when tested on very long periods (tens of years)
edit: ninja turtle link https://www.mql5.com/en/forum/175833I checked the Turtle one, will see what's like, but the others I have no idea, 'IMHO breakout experts'? I searched this site, could not find one.
I'm interested in TMLM EA, this EA together with SHI_Channel and manually drawed trendline will do a great job, only this TMLM EA still need some improvement, my opinion. I tested this one and it works to some satisfaction.
Again thanks for all of your replies.
Jeandl
I checked the Turtle one, will see what's like, but the others I have no idea, 'IMHO breakout experts'?
Sorry that I was unclear, IMHO is just short for "In my humble opinion".
It's a very good idea to get a general idea of how breakouts work before using any ea's - the main thing is that sometimes they work and sometimes they don't - and they almost always work better when they break longer period of prices or some other significant level. It's also very good idea to read a bit about turtle method that's really a proven method that works extremely well when there is a strong trend.
But now I start to feel that I'm hijacking this thread so we should probably move the discussion to some other thread..
so when you have a breakout expert you need to find the right settings, and if you do keep them for your self.
In my humble opinion breakout experts are really good in longer timeframe trend following (and i mean minimum of D1), especially basic donchian channel and almost nothing else. Why? Because donchian channel breakout is basically a definition of a trend, a higher high or lower low.
There is one EA on this forum that I have recommended as a breakout expert and I'll do it again: ninjaturtle (or something like that). It's downloadable from some thread and it works even when tested on very long periods (tens of years)
edit: ninja turtle link https://www.mql5.com/en/forum/175833
now I start to feel that I'm hijacking this thread so we should probably move the discussion to some other thread..
feel free to hijack the thread
,I am cool like a fish in the pool
A summary?
TMLM is a good expert, but recently we have seen lots of breakout experts and they are well coded to cover the trading time and range , so what has been offered in those experts is much more than what we have in TMLM .
According to your post you traded live acct with TMLM, apparently you got even better EA to use, and probably abandoned this one, just wondering if you can write a summary of your experience/conclusion of using this EA, so that when newbies come and read this thread, they will understand what situation we are now, or, even further some introduction to new EAs of similar function, if possible.
For the purpose of channel trading, I think this one is still very useful, I don't know any other remplacement. Only I think it needs some modification.
Jeandl
Dear MiniMe,
Thanks for sharing the method.
But unfortunatelly I can not understand, how you could reach so many trades for just 10 days. Becasue price come to up/down band of SHI 720 2-3 times in month!.
Will be glad to get your feedback.
What is your oppinion regarding current situation with EUR/USD.
As per attached we just kicked to upper band of SHI 720, will it go down?
Regards,
Sergey.
If it makes you happy this is a small account with starting balance of 30$ I use it for testing, and these are only 10 days of trading -- I traded only one week as i am busy these days- (some people here in forex-tsd.com knows when I started the test ) I have three live small accounts for testing as I test only on live accounts, i am ready to share when i see others do i am interested only in live tests even if it was on a 10$ account
https://www.mql5.com/en/forum/general
I even setup an account to test on the commericial section
I had one loss and 24 wins, where on my main account has almost a similar curve except no losses ( for a long period now ) and less profit ratio, I am trying new pairs and my goal is to find the best setup for each pair.
better idea for the system is being developed as an EA, and i hope once its ready the creator will share it with us
For the record there is no generatee, as I ask norhing in return, you want a generateethen I have to trade your account and I am not interested in managing any accounts now, at least not till the end of this year.Has anyone live trading results?
ea
i am going to try it