Profit Generator EA - page 59
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
Usd/JPY
I hate this pair.
You would think because it involves the dollar that it would pattern itself similarly to other dollar pairs but it doesn't. The reason seems to be that the usd/jpy is not moved so much by dollar fundamentals as it is yen fundamentals. Plus, because we're talking about a totally different continent which has a seriously different economy and fundamentals than the Euro nations, UK, and the US, it marches to the beat of a different drummer. I know there are systems tailored specifically to the usd/jpy because of this. Personally, after a few years of off and on trading it, I have sworn it off completely. I don't even look at it anymore.
I think you are going to ruin this system by trying to scalp it!!! It is working well on the 1HR time frame with MIKEFX's previous settings... It's a winner right now! It just needs a bit more tweaking. Trying to scalp will be scrapping what you've done up to this point and starting all over. Lets keep working on whats been successful instead of trying to reinvent the wheel!!
Billy
I concur nova on the Usd/JPY. I've also tried Eur/JPY to see if there was a difference, but there wasn't.
The strongest seem to be EUR and GBP (in the short-term they seemed tied, simply switching brokers makes one more profitable then the other), with CHF in 3rd place, but still worth while.
So personally I think I'm going to focus on these 3 pairs.
I think you are going to ruin this system by trying to scalp it!!! It is working well on the 1HR time frame with MIKEFX's previous settings... It's a winner right now! It just needs a bit more tweaking. Trying to scalp will be scrapping what you've done up to this point and starting all over. Lets keep working on whats been successful instead of trying to reinvent the wheel!! Billy
We need to test all option available. We are not ruining anything, instead, trying to find out all favorable setups.
Dear Mike and all members
I am a little lost among all versions of EA Profit Generator developped
Could someone help me - by posting the last developped version
precising UT used, otpimum pairs, settings and average monthly return in%
thanks in advance
Kr
VeronikaVeronika,
Thank you for joining us here. Nice to meet people from all over the world including the Russian speaking people here (they are very close to my heart as I preach to a Russian speaking church occassionally in the United States).
Anyway, the answer to your question is that the Latest version is
Profit Generator 3.2.3 found on Post 1
I would appreciate it if everyone would use that one as I don't want a lot of versions flying around and am trying to keep a handle on it so that everyone is testing with the same version.
This EA is getting good results with the three major currency pairs so far and I have had limited success with it for the USDJPY.
There is a Post and Compare Trades thread going about this EA found HERE
I would appreciate everyone to check out and participate in that thread as well. This EA is quickly becoming the most posted thread on this board and for good reason, it is profitable with the correct settings.
Keep up the good work and keep the thread alive.
hello... can someone please test this scalping setup
tf 15
longbar 5
maxtrades 3
onetradeperperiod true
open% .6
useclose true
tsactivation 5
trailpips 0
sl 10+
obsolete true and false
thanks!Nich,
I am now testing the above settings with Stoploss set at 25 on all currency pairs.
1 with Obsolete set to 10 minutes
1 without Obsolete
Veronika,
I would appreciate everyone to check out and participate in that thread as well. This EA is quickly becoming the most posted thread on this board and for good reason, it is profitable with the correct settings.
Keep up the good work and keep the thread alive.What Pairs?, what setting? & what time? is producing the profitable results please.
I would like to run a forward test using them.
Thank you.
EA is not working well so far this week. We still have the conflicting GBP/USD and EUR/USD trades. Since the GBP performs better can we program it so EURO only opens in direction of GBP? It is also going negative after it was in profit. We need a better exit than just hitting the stop.
Any ideas?
Thanks,
Billy
OK... this EA is scaring me now! How could it not only catch this move, but lose money on it????
Stevie Wonder could have traded this one!!!!
Trying to inject some logic
Ok, I will state this simple and time tested reality of the forex market which is not going away or going to change. 1st scalping is no different than any other trade except that you are taking less pips per trade. You still enter and exit the market. It is a trade. Period.
In regards to this EA isn't working on this day or that or whatever. Look, the forex does one of three things. It breaks out(this EA doesn't work), it trends in the daily range(EA works for this), or it does nothing(EA doesn't work).
So we have an EA that works in a trending market in the daily range. That's what we have right now.
I've been running the EA with two set-ups. One scalping, and one going for larger TP but only during certain hours. I only trade the EUR, GBP, and CHF. Because I only am testing three pairs, I can actually see what the thing is doing right and what it's doing wrong.
The EA traded short positions against the breakout across the board. It also opened all of these positions while price was above the 50LWMA. If we had just that ONE FILTER, IT WOULD NOT HAVE OPENED ANY OF THESE LOSING TRADES. Granted, it wouldn't have opened up longs instead and made me any money but I wouldn't have had a massive string of losers that could have been SO EASILY PREVENTED.
With the filter, when things settle back down and the new daily range is established, the EA will perform properly and I will win and make some good entries. WE NEED THE FILTERS.