Ubzen's FREE EA Project#1
@serpentsnoir. yea something like that. Mind describing it in more detail? Currently, your result stats below don't look too good especially the free-margin part.
Deposit/Withdrawal: 0.00
Closed Trade P/L: 1,281.27
Balance: 1,281.27
Credit Facility: 0.00
Floating P/L: -2,521.30
Equity: -1,240.03
Margin: 1,996.99
Free Margin: -3,237.02
The strategy is a collision of three different EA's - one is a grid, the second is hedging, and the third is trend. It only uses one indicator - J2JLite.
First, the maximum range the pair has covered in the last X years (a parm) is used to split the range into 4. So we have an upper quarter, a middle halve (two quarters) and a lower quarter.
If the price is in the upper quarter, we only sell. If the price is in the middle half, we buy and sell. We buy in the lower quarter.
We trade without a stoploss - you adeptly pointed out the drawback of this with the huge draw-downs. The theory is that when the price is upper or lower there is, to some extent, resistance and support built-in to that range.
So for a sell in the upper or the middle we only enter when the indicator is down, the current low is lower than the previous low and the current high is lower than the previous high. A buy is the opposite. The price must be in the lower or middle, the indicator must be up, the current high is greater than the previous high and the current low is greater than the previous low.
Now we also have to consider the spacing of the trades - the grid. The EA allows a pre-specified number of trades. These trades can't be any closer to each other than the pre-specified grid. The buy grid and sell grid are independant.
To calculate the lot size - and it is usually low - we determine from the amount of money left in the account, how much the trade can go in the wrong way - to the uppper or lower limit of the range in the last x years and then factor in a bit of padding. We of course have to calculate how much all the other open trades could go first and then that amount has to be taken from the available money. Not sure if I explained this correctly - but will answer questions (ad infinitum if required!).
Trades only close on take profit - but recently, I think I need to set a profit target since some trades close at the take profit and the swaps crush the gain. Optionally, if the direction turns right around, we can close it if we decide to.
Needless to say, this stragegy will have its detractors.
sn
oh, right now I am running this on 5 minutes and 15 minutes for gold and silver (never should have started on metals... shesh)
@serpentsnoir: Sounds good, I'm trying to download the indicator.
Update: Is this the Indicator you're referring?
yes, sorry, I should have posted it instead of making you guess... I am always tweaking it - right now I am using Length1=8, Length2=4,Phase1=99,Phase2=-99,Shift=0,InputPrice=0. Might be helpful if these were EA parms.
Just thought I would add a clarification about what up and down mean in the indicator...
Down is simply current value is lower than previous value.
Were I to code it again, I might have said the current down on the indicator must be "steeper" than the most recent up. Just a way to filter out a bit of false signals. Add that only if it makes sense to do so.
sn
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Hello Members, this is yours truly Ubzen. I've just crack the code on what I believe is a strong Money Management System. Being the nice guy that I am, I'm lending a helping hand to my fellow forum-neers. I'm hoping to start a thread for Educational purposes with a final reward of one lucky member getting a (hopefully) profitable EA. I'll try to keep the process Transparent as possible, well I'm mostly willing to share everything except the codes with the Forum. The EA without the codes will be provided to the winner for his/her personal use. I don't wanna code this thing out and then you start selling it :) so you'll have to agree to that part.
The Idea Provider, this is where you come in. My specification for the EA's Logic is a bit specific. Have you traded or been trying to create an EA which generates allot of profits but loses everything quickly? Does your trading logic generate a decent number of trades to keep you active? Did you read about a awesome very active system which you strongly believe would work but you lack the ability to code it into an EA? Did some of you programmers give-up on your high-win-rate EA because it Crashed? If any of the above applies to you then I wanna hear from you within this thread.
But, let me be clear. I'm trying to have the process Transparent for others to follow within this thread. So therefore, absolutely no PM-ing me asking to built your system for free. You'll be willing to provide the Logic to the public within this thread describing it as best you can. I'll choose the most sincere and best described/supported system. To those who will respond to this thread saying I'm idea hunting, don't bother. I have a scroll list of my own idea's and can find more free online, I'm just looking for some motivation and I think my offer is reasonable.
Again to those submitting ideas, the key words here are High%-Accuracy of Forecasts and High-Frequency of Forecasts, 1-Trade+ per day is good enough.