Piplite v1.0 - page 27
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Hey Iron,
Another question - if my computer were to turn off during trading and there were 3 orders open (0.01, 0.02 and 0.03), then when i reload metatrader, would piplite remember that it had opened 3 orders, and manage them appropriately? would it realise that the next order to open should be the 4th lot size (i.e. 0.04) ?
thanks!Not a problem, yes, it will know and analyze where you are are at. But, if there was an extended shutdown, there could be some collateral damage to your acct.
Great, thanks!
I've been busy developing other EAs but I haven't forgotten Piplite. In fact, Piplite is one of my 3 EAs on my live account that just sits there and continues to make money.
May I ask what are the other 2?
Guessing Blessing is one ?
performance in strong trending market
Hi Iron,
Thank you for freely sharing a profitable EA. What is your experience running piplite live during strong trending period of GBPUSD? Eg, between Jul '08 to Sep '08?
I've run strategy tester on these periods and it seems to always suffer huge 50% drawdown (90% modelling quality)
I thought of using 100 day MA as an additional trend filter so that it only execute shorts when below MA, longs above MA. What do u think?
I'll modify the code to see if this is effective. If it works better, I'll share.
Cheers,
Jonathan
Piplite
All,
Piplite was developed based on Pipmaker. I took out all the indicators and it uses only one. A lot of other useless features were removed and a day and time trading feature were added. A few additional features were added (Trend Protection, Timing Entry) but to date, all those features have not completely panned out.
Piplite was created at the end of 2008. I started live with it in January of 2009 and it's made me money everyday. I can't think of one EA that survived some of the disasters of last year, including Piplite's founding EA, Pipmaker.
As such, Piplite and Blessing were both written with the idea of protecting your account. Thus, equity protection was born. Previously, Pipmaker and other EAs would just simply take your account out. Pipmaker took out my demo accounts last summer with no warning. I had taken a $5K demo up to $20K in 2 month with an aggressive Pipmaker setting. It disturbed me that there was no account protection. If there had been protection (equity protection), my demo account would have been taken down to $10K and not 0, a very respectable profit over two months but it did not happen that way.
Trading is a risk. Equity Protection is a must. I recommend using the portion control feature as well, as this reduces your risk exposure even more allowing you to use other EAs as well. Right now, all I run live is Piplite, Blessing and another personally developed EA (no, not available, sorry).
Happy Trading
v/r
Loading EA?
Piplite EA sounds very interesting and I would like to load it on the MT4 platform and test it out.
There are 5 files to download in the first post. The first file is a word document and it loads fine.
I am confused about the remaining files. I would think that the main file being Piplite V3.1 is the expert advisor. Why does it have the .mq4 and not .ex4 extension? Normally I would load the EA with the .ex4 extension to the expert folder.
Can you please tell me if all the files are necessary and where to place each of the following files.
1. Adaptive RSI.mq4
2. Piplite gbpusd.tpl
3. #signal Bars V71.ex4
4. Piplite V3.1.mq4
Thank you very much.
Jeff
Put piplite 3.1.mq4 in the experts folder, and put the others in the experts/indicators folder. put the template anywhere you want, and you can load it in MT4 by choosing Templates -> Load Templates.
On a side note, question for others here ... if i understand correctly, setting Portion = 2 and equity protection = false is the same as setting Portion = 1 and equity protection = true and 50%? Is that correct ? As both methods can lose upto half the account's balance.
Hi all,
Sorry for my bad english.
I need a explanation about this file - #signal Bars V71.ex4
why we need this file ?
I need to put this in expert/indicators ?
THANK A LOT
Piplite hit 50%
Account Portion = 4
Equity Protection % = 50
Piplite got up to 12 Buys earlier this morning, hit Equity Protection at 50%, and closed at a loss.
Anybody else got the same result?
1 more thing
Please I just want to know if I still have to do anything to the Piplite v3.1 before I start trading with it. I mean the account balance......or is it set on default like blessing2?