PipMaker v1 - Price action based EA - page 204
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oh dear!!
I wonder what else it could be!
Normally you should have in log a line that say reason for closing...
Hello,
what currency pairs do you prefer, and what is the best setting (i use default)
Thanks
Most EA's are apparently for the ALREADY wealthy
Hello all! I am a new member to this site. I landed here because I put in a Google search for an EA that SPECIFICALLY trades based on price action. I am not done searching yet but I was also hoping that I could find an EA with enough artificial intelligence to ALSO be able to spot trends and trade with the trends. Perhaps, and possibly I am speaking prematurely as I am certainly not done searching, but, I have yet to find an EA that does.
Now, about this thread ... So far, I have read the 1st 35 pages (realizing of course that it started almost 2 years ago and there's a lot more pages to read) and I have noticed that it seems as though this EA will only benefit those of us/you that have a large account balance to BEGIN with (more on this in a minute.)
Those of us with a smaller beginning balance have no choice but to deal with things like higher spreads than what some on here are talking about. (FYI- My broker offers 39 different pairs to trade (FXCM) and I took the time Friday to open up charts on all those that have pip spreads of under or around 35.) However, does this mean that those of us with smaller beginning balances are doomed to fail or can't work with THIS EA just because of the higher spread variable? I certainly HOPE not. Remember folks the spread is just a variable and what do we know about variables? They can be changed, right? Well then???
I had to get a napkin and wipe the drool off my MOUTH when I was reading about those of you referring to pip spreads of less than 10. Here I am trading every day with spreads of between 25 and 40 on my micro account (and still making money daily mind you) and some of you are complaining (or at least taking issue with) about a "growing" spread during news of up to 9 pips?!?! OMG!! Excuse me while I break out my violin, lol!! Seriously? Spoiled!!!
Back to lower beginning balances...
I am not ashamed to admit that I opened my account with a $1500 USD balance. Large fortunes and wealth have been made in Forex on less. On 4-26-2010 I made my first trade. In 8 full trading days I added $1000 to that account trading manually! So, no one can tell me you can't make money with a small balance. As for the EA'S ... I am of the belief that we can build/write them to trade ANY style as long as we can put the logic into words. It's all about IF/THEN scenarios.
What am I saying by this? I am saying that (though I am FAR from an expert on MQL coding) I believe that if it hasn't already been achieved further along in the thread, this EA being talked about here CAN be adjusted to be JUST as effective on a LIVE account AND for someone like me with a low balance of now $1700 (don't ask me what happened to the $2000+ ... I'll just say this phrase ...USE YOUR STOP-LOSS FEATURE!!!)
There is no logical reason (unless of course it's written into the code) why a larger pip spread (20+) should have ANY bearing on ANY features of this robot OR it's ability to make trades that still make me, and everyone else with small balances, some good money!!
Whether it's a robot or a human that's making the trades they both have a 50% shot at getting it right. That's not an opinion that's a fact based on the obvious logic of a prices' limited ability to only go up or down. For the smart asses out there that say "What if it doesn't move at all?" I say you both win AND lose. You win because you're not losing money since it's not moving against you and you LOSE because you can't use that money since it's tied up in the trade. :P
So what makes a robot better? 2 things, 1.) no emotionally vested interest in what happens to your money (fear, indecision and greed are eliminated), and 2.) it needs no sleep, holidays, sick days or "personal" days. IT ... JUST ... WORKS around the clock!!!
My problem is I can only watch so many pairs' movements at one time (another argument for a robot to trade.) I just want a robot that will open and close trades that make me money while I am sleeping or away from my pc. As much as I LOVE getting up at 3am EST to catch the movement until a usual lull between 9 am and 11 am (time for a nap, hehehe) then trade again after my workout (which happens from 1 pm to 1:45 pm) trading again from 1:46ish pm to another lull between 5pm and 7pm (nap again) then trade again from 7 pm to midnight, sleep for 3 more hours and do it again the next day ... there's still lots of other things I'd like to do. For example...
I have 2 great ideas for EA's (robots) which SHOULD be easy for a programmer to put together since I am a specialist on giving details and explanations (which a programmer needs) but while I am waiting for that to come to fruition I'd like a robot to be making SOME trades for me while I am sleeping, reading, eating and putting together some variables for my idea-based EA's. Is that too much to ask?
If we make trading decisions to enter buys and sells based on logical things we see taking place on the chart, in the market or whatever... (such as following a trend) then we should certainly be able to put it to an EA. THIS is why I am here. I found this EA based on price action and I want to try this on my live account (after forward testing it of course) which has a low balance of $1700 USD. Now, if someone would be nice enough to show me the latest post that may have the download of this EA (including the appropriate settings for a smaller balance account) I would really appreciate it.
Thank you everyone for all your contributions so far to this thread. I look forward to catching up to the latest posts up to mine this weekend. Sunday at 5:15pm can't get here soon enough for me, HAPPY TRADING ALL and GO CELTICS!!!
Lee
PS-Sorry for the length of my post. I hope I can contribute here in the future.
The best way to win in the Forex Market is...
I think I've had a revelation! All any of us want is the a trading robot/EA that pulls in more wins and is closer to perfection than anything else, right? To some this may seem like a joke but if you think about it with your logic sensors turned all the way up it may actually make sense to you. Here's what I mean...
We all know there's tons of commercial robots available out there to trade on various trading platforms most of which were specifically designed to work with the MT4 platform. If you do a search on the Internet you can surely find the worst performing robots with a losing percentage of 90% or better. You may be raising one eyebrow wondering why I would even LOOK at the biggest loser. Let me explain...
I have yet to find a robot/EA that wins 90% of the time or better for a consistent and lengthy period of time i.e. 6 months+ (if YOU have please let me know about it.) Now, there are sites out there where people have been testing these robots (yes, even the losers) with REAL money on LIVE accounts for lengthy periods of time, which is what we need to see. So to me it makes sense to do the following...
First, take into account the fact that we all know that the losing trades tend to be bigger than a series of wins meaning that one loss seems to wipe out about 10-15 previous wins.
With that in mind, if you purchase the biggest most consistent losing robot/EA you can find, put it on a forward testing demo account, use it as a "Signaling" software and in your live account take the EXACT OPPOSITE position the E/A is taking and you will instead WIN 90% or more of the time!!! Remember too that one loss is usually bigger than 10-15 wins (depending on your style of trading) so you should not only win 90% or more of your trades but they should also be BIG wins.
Obviously this is still based on theory and you should still trade at you own risk and not see my statements as advice on how to trade. Good day and good luck in your trading!!
Lee
And the point is...?
it would be great to work together on a forex project.. if we all put our ideas on price action and strategy together..
but it appears this thread is a bit dead.. no one backtesting, looking for ideal settings or sharing new ideas or contributing in anyway.
it would be great to work together on a forex project.. if we all put our ideas on price action and strategy together.. but it appears this thread is a bit dead.. no one backtesting, looking for ideal settings or sharing new ideas or contributing in anyway.
My point exactly.
Everybody wants the perfect EA on a silver plate , for free, along with set files and 1000 years of forward test on a real account
been forward testing this EA recently - was testing the v17_3_SL - i found that in back tests, there would be a recovery trade after a loss - eg, 0.1 lots and 0.2 lots move into profit, then the next trade to open is 0.2 as shown below ( the very last trade)
287 2008.08.01 14:37 sell 144 0.10 107.660 0.000 0.000 0.00 22430.20
288 2008.08.01 14:40 close 144 0.10 107.529 0.000 0.000 12.18 22442.38
289 2008.08.01 16:10 sell 145 0.10 107.377 0.000 0.000 0.00 22442.38
290 2008.08.01 19:27 sell 146 0.20 107.678 0.000 0.000 0.00 22442.38
291 2008.08.04 00:19 close 146 0.20 107.526 0.000 0.000 28.16 22470.54
292 2008.08.04 00:19 close 145 0.10 107.526 0.000 0.000 -13.92 22456.63
293 2008.08.04 20:00 buy 147 0.20 108.178 0.000 0.000 0.00 22456.63
294 2008.08.05 19:37 close 147 0.20 108.316 0.000 0.000 25.46 22482.09
However, in forward testing, this is not the case. After a period of drawdown, the EA does not place any trades at all - no recovery trade and no normal trades, until it is reloaded.
Any ideas anyone?
Are you sure you're using original version?
https://www.mql5.com/en/forum/177291/page129
Because there are a couple of other builds named the same.