Profit Generator EA - page 10

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One problem I can see with using GBPJPY is the high spread cost. I am trying to set the trades with equal tp and sl levels to prevent curve fitting. It those numbers are robust, then they will work for most of the pairs for most of the time. However, with 8 pips of spread cost, it eats away the risk reward ratio.

I will let the current mix run for a while and then see how the pairs peform. I will then decide what is the right mix.

Maji

 
Maji:
Holyguy,

Thanks for your continued support. The yen pairs caught the break with the breakout at the beginning of this Sunday's session, apparently related to the good performance of Japanese businesses. Another example why one should not pay any attention to news, but just let the system do its job.

I am using Nich's version 2 on 4 hour bars, with the following parameters:

I am trading all the USD denominated pairs on IBfx along with GBPJPY and EURJPY. My first closed trade was Cable, and unfortunately it was a loser. Anyway, let us see how the events unfold. If the backtest results were in the ballpark, then we have a great product in our hands. Maybe the webmaster may think of moving it to the elite section.

Take care,

Maji

Thanks Maji for your support of this EA. I also tested on the H4 timeframe last week and the results were not good. For some reason, the EA works better on the H1 and D1 timeframes. Why question success???

You are correct, don't worry about news as this EA detects price movements and then capitalizes on them. Amazing to say the least. I wonder why somebody else did not discover it before?

I am not using money management as I want to figure all wins/losses with just 1 contract at a time.

However, has anyone else had any luck with this EA?? Anybody else testing out the money management option?

Thanks for all your continued support.

 
Maji:
One problem I can see with using GBPJPY is the high spread cost. I am trying to set the trades with equal tp and sl levels to prevent curve fitting. It those numbers are robust, then they will work for most of the pairs for most of the time. However, with 8 pips of spread cost, it eats away the risk reward ratio.

I will let the current mix run for a while and then see how the pairs peform. I will then decide what is the right mix.

Maji

You are exactly correct on that. The currency pairs I chose were because they had a 5 pip or less spread except for the GBPJPY which has 8. I thought about leaving it out as if I would have removed it I would have reduced down my losses last week but on the other hand, overall, the pair made a profit so I thought I would continue to test it out.

However, I like that pair because it looks like it might be predictable with price movements better than other pairs. We need to continue to test to see how it all plays out.

If you notice according to my statement last weekthat the GBPJPY had the most losses than any currency pairs. 3 losses to 3 wins. The wins were more profitable than the losses so I kept it in but if I would have removed that pair and fixed the timeframe on the EURUSD and USDCHF then I would have almost eliminated every loss I had last week!!!

Again, more testing is required. I am glad you noticed that because nobody else had brought it up.

 

Another thing I noticed is that the three remaining tradesthat were open from last week were all JPY currency pairs. Two of them were in the wrong direction!!

This is why I would prefer to have an option to this EA to automatically close all trades at 21:00 GMT on Friday. You never know what kind of news can come out over the weekend and like we saw today, news did create a bullish market for the JPY and would have stopped out two out of the three trades.

Just a though . . .

 

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HolyGuy: Can you test the following settings on 2.1 and let me know what results you get?

ID=0; lots=1; MM=true; Risk=10; stoploss=35; takeprofit=25; MaxTrades=1; UseHourTrade=false; FromHourTrade=7; ToHourTrade=20; UseTrail=false; TrailingStop=20; LongBar=15;

2.1 Addition is LongBar. This variable controls how long the Candle is before making decisions further. In previous versions the value was hard coded to 10. This can now be optimized and 15 is best for H1 according to backtesting.

 

I like where you're going Maji. I made some changes to incorporate your ideas into an 'entire' EA. The variable definitions are as follows:

MM = false; //Use Money Management or not

extern int Risk = 10; //percent of available margin to risk.

extern int stoploss=30,takeprofit=40;

extern bool UseTrail=false;

extern int TrailingStop=0;

extern int MaxTrades=1; //maximum number of trades open at a time

extern bool UseHourTrade = False;//time filter

extern int FromHourTrade = 8;

extern int ToHourTrade = 18;

extern int LongBar=10; // sets the minimum length of the bar before entering

extern bool UseLastPeriodPerams=false;// uses the high and low from last period for calculation

extern int period=0; // leave this number as zero to use the period from the chart, otherwise change to the desired period expressed in minutes. eg. 1440 for day period.

extern bool OneTradeperPeriod=false; //This will only allow one new trade per period.

extern bool DisablePeriodMGMT=false; // This will disable the feature that allows trading only in the first half of the period

If you wanted to set this up for the Maji version, you would set:

DisablePeriodMGMT=true; period=1440; and then optionally use yesterday's High/Low

 
 
Hendrick:
Hi all,

When I use Lots=1 and MM=true the EA is placing trades with an increasing number of lots as soon as your deposit is increasing. When I change Lots=0.1 (MM=true) the EA is still making trades as if Lots is 1. Only when I change MM=false the EA is using Lots=0.1. How can I use Lots=0.1 and MM=true together?

And what if I want to use a micro-account (Lots=0.01)? (A micro-account with MT4 is possible with Nueimex).

Thanks for all your hard work!

No worries! I believe the correct calculation for what you are trying to accomplish is x/y=n. (this is assuming 100:1 leverage) Where x=desired margin traded; y=Account free margin; and n=risk. An example would be if I had 50K free margin and I wanted to start off trading 0.1 lots then $100 is the margin requirement to trade .1 lot. I would take the 100 then devide by 50000 which results in .002. You would then want to enter .2 into the risk perameter to get the desired result. If you would like to use lower risk factors than 1% of margin(such as this example), you will need to download the version on this post.

Happy Trading!

 
If you don't mind, could you possible remove all previous version as I don't want everyone testing all these different versions. Basically, your version has all the rules of the original with a many more options that people can chose from. No reason to have the other versions around this thread.

I agree. So... done and done Thanks for quarterbacking this thing! I appreciate your hard work as well.

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