New EA based on the !xMeter - page 61
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version 2.2.7
Hello Capella,
You're right. I removed RSX and made several fixes plus some code cleanup.
I have also been experimenting with ZeusFX which is a martingale EA, the additional trade beeing triggerred by a signal. But it's another failure. I'm not sure a martingale can be left trading on it's own unattended.
The problem with xMeter is that it's impossible to backtest and so to get any statistics. If we had statistics, we could check whether a 5% drowdown would be a limit to close all trades and if in that case the EA would still be profitable.
Looking at myFXBook it looks like several months of life trading with this EA can be misleading because it behaves nicely for a couple of months and then you'r caught in a drowdown that kills your account.
At least with the equity protection the account will not completely crash.
Cheers.
Thanks for the improvement liloufx
I had version 2_2_3_fp running on a demo-account since more than a month back, with default settings except 24 hours instead of 84 hours for the xMeterLookBackPer. On 29th of July late evening it made a huge DD (~70%) when it closed lots of USDJPY Buy-orders that had been opened from 7th of July and onwards, when USD was strong against JPY since more than a week back (so it would not had matter if I had set the parameter to 84 instead of 24 hours). On the 8th of July the USD turned down, and it has fallen drastically since then. This is an example of the danger of Grid-Strategy. No, lets assume that this EA had not used Grid-Strategy but a Trend-strategy instead, then it would have open SELL-positions of USDJPY instead to hedge against the loosing BUY-positions.
Grid-Strategies ONLY work on single currency pairs, and especially on pairs like GBPUSD and EURUSD, and they will only survive with small lot-sizes. Using Grid-Strategy on multi-currency EA's greatly increases the risk of major DD, and I'm convinced that this kind of strategy should NOT be used here.
ZeusFX us a Grid-Strategy EA that also uses Martingale-Strategy. There's nothing wrong with these strategies, but all such EA's must be used with great caution, and with small lot-sizes, or they will sooner or later wipe out the account.
My suggestion for further development of !xMeterEA is to remove the Grid-Trading strategy and only open additional positions based on Trend, where there are many different options for using indicators. Positions of the same currency pair can then be hedged against each other and closed at break-even + small profit when the trend changes.
Actually in 2.1.1a there was an addition to get into a trade in reversal conditions i.e. when the difference between 2 pairs is higher than 5 a counter trade is started. It was also possible to select the pairs to apply the algorithm. This is also possible to do it on the market watch but it will impact other EA you'd have on the same platform.
But indeed martingale in general is never safe whatever pair you choose. You can try anything in high volatility such as in 2008 your martingale will kill your account. When the market is quite then you scrap some money.
Basically when trend following system or volatility EA are not profitable then it's time to use martingale.
My conclusion about this EA
Hi,
This EA is seems to be a profitable system. But in long term, in recovery mode it will blow up the account. It is a slow killing machine.
Total trading days from 24-July-2011 to 04-Aug-2011. AccountRiskPercent = 0.2
My $2000 account with recovery mode and total balance of $2562.
1st position recovery mode 0.05 AUDUSD total loss = -249.35
2nd position recovery mode 0.05 AUDUSD total loss = -218.45
3rd position recovery mode 0.11 AUDUSD total loss = -350.79
4th position recovery mode 0.17 AUDUSD total loss = -435.88
5th position recovery mode 0.25 AUDUSD total loss = -458.25
6th position recovery mode 0.38 AUDUSD total loss = -457.52
7th position recovery mode 0.57 AUDUSD total loss = -352.26
Total Loss with one recovery of pair -2522.5. If the reovery starts for more than 2 pairs it will blowup the account very quickly.
Regards,
Guru.
Thanks Gulik!
I will continue to test it on demo with different settings, without Recovery-mode, and with higher GridSpacing (as I don't like the idea to let too many positions to be opened for the same pair that runs against the trend).
Opposit Order in Recovery Mode. Is it problem in coding?
Hi,
Anyone found this type of bug. EURUSD places opp. order in recover mode. Recovery mode in selling places buying order instead of selling order. See the screen shot for details.
It's not easy to see out from that pricture. You should post the trading result from the Trade tab and Account History tab.
But generally speaking, I often found the EA to open positions at the wrong time, and that was also the main reason why I added Stochastic to it.
!xMeter 2_2_3fp
Thanks for the improvement liloufx
I had version 2_2_3_fp running on a demo-account since more than a month back, with default settings except 24 hours instead of 84 hours for the xMeterLookBackPer. On 29th of July late evening it made a huge DD (~70%) when it closed lots of USDJPY Buy-orders that had been opened from 7th of July and onwards, when USD was strong against JPY since more than a week back (so it would not had matter if I had set the parameter to 84 instead of 24 hours). On the 8th of July the USD turned down, and it has fallen drastically since then. This is an example of the danger of Grid-Strategy. No, lets assume that this EA had not used Grid-Strategy but a Trend-strategy instead, then it would have open SELL-positions of USDJPY instead to hedge against the loosing BUY-positions.
Grid-Strategies ONLY work on single currency pairs, and especially on pairs like GBPUSD and EURUSD, and they will only survive with small lot-sizes. Using Grid-Strategy on multi-currency EA's greatly increases the risk of major DD, and I'm convinced that this kind of strategy should NOT be used here.
ZeusFX us a Grid-Strategy EA that also uses Martingale-Strategy. There's nothing wrong with these strategies, but all such EA's must be used with great caution, and with small lot-sizes, or they will sooner or later wipe out the account.
My suggestion for further development of !xMeterEA is to remove the Grid-Trading strategy and only open additional positions based on Trend, where there are many different options for using indicators. Positions of the same currency pair can then be hedged against each other and closed at break-even + small profit when the trend changes.Hello Carl,
I also have this EA on a demo account since 4 months. Standart settings - it seems to work Ok. It is opening deals against the trend but it is recovering it. I had 8 open positions against the trend but at the end it is closing them with a small positive amount.
The thing which I do not like in this EA is:When you have deal in a wrong direction it is opening a second deal after 300 pips. If it is based on another indicator(stohastic which you add) or reversal or I do not know which add indicator I hope it will be a little bit better. My idea here is if you have a wrong deal to open a second one in the same direction like now but only you have a signal from indicator(stohastic from example)
And one question - did you try this EA on a M5, 15,... in my case it is on M1
I am not a master in programing and I am still wondering how this EA is working but it works for me
The default settings is NOT to use Stochastic.
This is basically a grid-strategy EA. As all such EA's they open the first position based on some kind of indicator or combination of indicators. This EA opens the position based on the currency strength, and can do so for all the major pairs. But as a grid-EA all additional positions are open when the frst positions have gone in the wrong position too long. And all additional positions are then opened against the current trend and NOT based on the currency strength. This is also my objection against this EA. It ONLy opens the first position based on the currency strength.
My test was done with the default settings (not using Stochastic) but changed period from 84 to 24, and it lost 3/4 of the money in major drawdowns. And that had nothing to do with the change from 84 to 24 but with this grid-strategy.
So, the next step to change this EA is that all additional positions must be with the currency strength, and not against it.
Hello Carl,
I also have this EA on a demo account since 4 months. Standart settings - it seems to work Ok. It is opening deals against the trend but it is recovering it. I had 8 open positions against the trend but at the end it is closing them with a small positive amount.
The thing which I do not like in this EA is:When you have deal in a wrong direction it is opening a second deal after 300 pips. If it is based on another indicator(stohastic which you add) or reversal or I do not know which add indicator I hope it will be a little bit better. My idea here is if you have a wrong deal to open a second one in the same direction like now but only you have a signal from indicator(stohastic from example)
And one question - did you try this EA on a M5, 15,... in my case it is on M1
I am not a master in programing and I am still wondering how this EA is working but it works for meThe default settings is NOT to use Stochastic
The default settings is NOT to use Stochastic.
Hi again,
You are write I turn on Stochastic from settings. But why are look back only 24 instead of 84. If you try some wave indicators they are looking for the values for a longer periods. That why I still wondering how this EA will performs in longer period then M1. I think that M1 is too short period for calculating currency strength but I am not sure. I was looking for the calculation of the currency strengths for M1 but it starts from M5.
Do you think that this short period is not the reason for the wrong direction of positions?
On my demo for 4 months (1000 USD initial balance I gain 471 USD till now current open positions -105USD)