Aggressive scalp ea - page 7
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Smoke and Mirrors
I do not claim to be an expert on the Forex so let me start by just
stating that this is just a (Personal Opinion) and not meant to do
anything but reflect my beliefs. I have been trading the Forex live
for about a year. I have tried both Manual Systems and EA's. Some of
the EA's were Free and some had to be paid for. I prefer the EA method
simply because it take All of the Emotion out of trading. But so far
I have not been able to find an EA weather Free or Bought that will
produce sustained profitable results. Most NEVER show a profit at all.
But it seems that they all show only Back Test and Demo Accounts as
the proof of there success.
I have a Firm but Simple belief. Anyone wanting to "sell" their EA
should only post REAL Money reports. If they promote their product
as having such great results then why would they show "anything but"
a Real account results. Back test are worthless and Demo accounts
"do" produce different results than Real accounts. The fact that they
are using Demo rather than Real accounts as proof is testimony to
that fact!!!
That is why I have an account with InstaTrader. They have lot sizes
of .01, which at there brokerage is only 100 units instead of 1000
units. This means a pip equals only 1 Cent. This allows you to be able
to trade on a Live Real Money account for testing. IBFX also offers
lot sizes of .01 = 100 units. Then you will know if you have an EA
that can win or not...
Believe me if I were selling an EA that gave the results that they
show with back test and demos I would have it running on a Real
account and making a Fortune. And then (and only then) I would show
"those results" as proof. I mean that only makes sense right? Unless
of course you bought it to run on a Demo account and make PLAY
Money??? If I want to make Play Money I will buy a Monopoly Game...
If you are only showing back test and demos as proof then the EA
should be shared for FREE. If you are promoting it as a tool that
can make Real Money then show it "Making Real Money"
Anything short of that is nothing but "Smoke And Mirrors"
There are only 2 reasons why (and this refers to someone wanting
to Sell their EA) someone would use Back Test and Demos rather
than Live Real Money accounts as Earnings Proof.
1) They are relying on the Profits from the sale of the EA to earn
money from the EA & not from Winning Trades...Other wise if
they believed in their own product they would have it running
Live on a REAL Account earning themselves Real Money...
2) They have tried it on a Live Real Money Account and it did not
perform as they have shown it to on the "Play Money Accounts"
That is why the Brokerages even allow Demo Accounts and Back
Testing abilities. They want to lull you into believing that you have
found the Holy Grail. But then when you apply the very same method
to a Real Account; why does it always produce different and most
likely devastating results???
Again these are just my own personal beliefs & not meant in anyway
to discourage Demo Testing. But that being said "Do Not" expect the
result you get from Demoing to reflect the same results you will get
when trading on a real account. There is only one way to know the
result of trading on a real account and that is doing it.
One thing I am sure of is this--If it will work on a Real Money account,
even if the lot size is only 100 units (At Least I Know It Works). Then
all I have to do is just increase the lot size to increase the profits. And
if it doesn't work it didn't cost a fortune to find out. But either way I
will know for sure...
I have tried placing buy only trades but the ea is not working.... it is working with sell only trades however.... can someone please help with this! The expert is selling fine but it simply will NOT buy!
Could it be maybe because it does not open orders unless price does not cross the 255 sma? Am I reading that right?
P.S. My broker is FXDD.
I think a scalper like this *could* be a holy grail... but it is missing a lot. We DO need a stop loss, and we do perhaps need higher timeframe confirmation.
Having said that, I have seen account balances mad scalping EAs -- like FX GENIUS for example, that trades on the M1 and scalps about as crazily as this one. Perhaps have it sit on the M1 and open a trade per timeframe. Say the M5 is a buy, M15 is a buy and the M30 is a buy, but the H1 is a sell, the H4 is a sell -- for example. Eventually these trades will all close in profit (hopefully!)
Not sure how to handle stop loss yet. Obviously this must be kept to a minimum...
Actually, try setting the take profit to 2 or 3 and see the backtest
Just a little teaser at what's actually possible if it manages to the get the direction right most of the time.
you can modify stoploss,tp....ect for 4or5 digit broker
this ea for fxdd
order total:5
stop loss: 100 and auto modify
tp :3
lots:0.1k
gaivy912
The problem with most ea's that you are seeing is that the quality of the backtesting and optimization is poor... generally you will discover that they are curve fitted and that the walk forward tests have not been done in a thorough manner.....
There appear to be some problems with metatrader as a testing engine...... consequently the trader has to be more than thorough with his testing and walk forward...
Many of the people creating ea's overlook these areas....
I would suggest that before you use an ea that you do a thorough job on backtesting and walk forward and optimizing....
I further suggest that you study a few books on these topics before entering any live trading with an Ea.
this ea for fxdd
order total:5
stop loss: 100 and auto modify
tp :3
lots:0.1kIt's no good optimizing things like take profit and stoploss when the EA still risks exploding on you... BUT this EA (or at least the idea of mad aggressive scalping) is an interesting one which could be INSANELY profitable if it just gets the direction right, the entry correct, and the exit signal on the mark MOST of the time so it is profitable ALL the time.
Some ideas about it that I have been kicking around:-
* News filter (avoid news trades.)
* Multiple time frame analysis (to help pick direction, and exit in case it's going backwards)
* A price channel indicator to determine the highs and lows (and when to buy and sell)
* ATR based volatility throttle to prohibit the indicator from firing signals during flat dead periods
i am not so sure that a stop of 100 is going to be profitable with a take profit of three...
the price action has to be defined very accurately for this to be profitable, having that stop loss will bring big problems at some time, especially if the market is too fast for the server to execute properly....
That is one area that has to be refined.
IMHO
daveM
It's no good optimizing things like take profit and stoploss when the EA still risks exploding on you... BUT this EA (or at least the idea of mad aggressive scalping) is an interesting one which could be INSANELY profitable if it just gets the direction right, the entry correct, and the exit signal on the mark MOST of the time so it is profitable ALL the time.
Some ideas about it that I have been kicking around:-
* News filter (avoid news trades.)
* Multiple time frame analysis (to help pick direction, and exit in case it's going backwards)
* A price channel indicator to determine the highs and lows (and when to buy and sell)
* ATR based volatility throttle to prohibit the indicator from firing signals during flat dead periodsI agree 100% amigo !!!
If those sugestions will be considered this EA will a money mashine. All the best 