PivotMagic EA: Magical power of pivots present NOMINAL LOSS (close to zero) over time - page 10
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OK, let us focus on how to improve the EA, it has a great potential.
I started to test the latest EA last week. It seems it does not perform good in a trending day like recently. It is carrying a lose trades with about 180 pips negative(Long EUR). The question is that when this trade should be closed. Should we hold the position till positive?
I know a dynamic stoploss is integrated into this EA, but 180 pips is a large number to carry.
Any ideas about this?
I am testing on four majors.Thanks
Stop-Loss
The EA did great yesterday and got clobbered today.
If a trade is entered and immediately goes negative, does the Stop-Loss not engage? Whenever a trade is entered, both S-L and T/P are 0 and I have to go in and manually enter them. Or does the EA monitor these in the background and just doesn't update them in the trade record?
Exit
Exit with dynamic stoploss
That's the key for the success of any EA. I've been trying to find an ideal way to escape a losing trend without affecting the other good trades, but I so far have been unsuccessful.
In fact, I developed a whole scalping EA with so many trades just to know how I can stop a losing trade, and I'm slowly finding clues. But so far, I am unable to get to the secret formula to get it done.
Here's what I tried so far:
1- If your EMA line is going fast in the opposite direction, stop with minimum loss
2- If a very long drop or rise in the other direction happens, just exit immediately (sharp fall/rise)
3- If you remain without profit for X number of bars, exit with the minimum loss possible
4- If you go up and down different trends and seem to not settle in after Y bars, just exit the first time you go in the right trend and with the minimum loss possible
5- If you go through a strong opposite trend, exit immediately and start an order in the other direction (sell if an open buy, or buy if an open sell)
The issue is that when I apply those above, there is no way to avoid having them interfere in successful trades that should not be altered. So in principal, they are useless.
I used all the above in different combinations and styles, but I still couldn't guarantee a reasonably acceptable exit.
What I learned so far in FOREX is that you cannot avoid loss, and sometimes you cannot avoid massive loss. That's why I concluded one thing:
With technical data you can just go thus far... the next step is to apply fundamental analysis to save your EA from going horribly wrong. That can only happen if you follow the news..
So the ultimate solution is EA+lookup for news.
Other than that,I'm sorry, this EA has gone thus far and can't continue.
Nowadays, I'm just testing my SCALPER and forgot about PM v4. There are so many people with the source code, and I'm relying on them to help out.
This scalper is going to be used in my commercial FOREX investment project. So don't ask me for the source code. If you want, I can update you when the actual investment program is online and working. It will be 100% transparent and I'll try to use some fundemantal analysis with it.
Of course it won't be used until it is 100% ready, and loss will and must happen occasionally.
This version is flawed and temporary, so don't use it for live trades. You've been warned.
Test it with main pairs (especially EURUSD) with M1 timeframe only.
Sorry to let you down folks.
I did my best. Thanks for all your support.
I guess I'll have to lay this to rest.
Exit with dynamic stoploss
That's the key for the success of any EA. I've been trying to find an ideal way to escape a losing trend without affecting the other good trades, but I so far have been unsuccessful.
In fact, I developed a whole scalping EA with so many trades just to know how I can stop a losing trade, and I'm slowly finding clues. But so far, I am unable to get to the secret formula to get it done.
Here's what I tried so far:
1- If your EMA line is going fast in the opposite direction, stop with minimum loss
2- If a very long drop or rise in the other direction happens, just exit immediately (sharp fall/rise)
3- If you remain without profit for X number of bars, exit with the minimum loss possible
4- If you go up and down different trends and seem to not settle in after Y bars, just exit the first time you go in the right trend and with the minimum loss possible
5- If you go through a strong opposite trend, exit immediately and start an order in the other direction (sell if an open buy, or buy if an open sell)
The issue is that when I apply those above, there is no way to avoid having them interfere in successful trades that should not be altered. So in principal, they are useless.
I used all the above in different combinations and styles, but I still couldn't guarantee a reasonably acceptable exit.
What I learned so far in FOREX is that you cannot avoid loss, and sometimes you cannot avoid massive loss. That's why I concluded one thing:
With technical data you can just go thus far... the next step is to apply fundamental analysis to save your EA from going horribly wrong. That can only happen if you follow the news..
So the ultimate solution is EA+lookup for news.
Other than that,I'm sorry, this EA has gone thus far and can't continue.
Nowadays, I'm just testing my SCALPER and forgot about PM v4. There are so many people with the source code, and I'm relying on them to help out.
This scalper is going to be used in my commercial FOREX investment project. So don't ask me for the source code. If you want, I can update you when the actual investment program is online and working. It will be 100% transparent and I'll try to use some fundemantal analysis with it.
Of course it won't be used until it is 100% ready, and loss will and must happen occasionally.
This version is flawed and temporary, so don't use it for live trades. You've been warned.
Test it with main pairs (especially EURUSD) with M1 timeframe only.
Sorry to let you down folks.
I did my best. Thanks for all your support.
I guess I'll have to lay this to rest.This is why you need to add in Pipstep to your EA. That way one could "average down" and it helps to increase profitability.
If you could add this feature to the EA, I would appreciate it.
This EA needs a Stoploss or something. It's "close to zero" loss over time failed this week bad.
I hate to say it, but this EA is unreliable for the last two weeks in a row.
My forward test on demo acc
so far so good
so far so good
Can I ask what presets (settings) that you are using? And can you post the EA Version of PivotMagic that you are using. Thank you.
If you look at those trades they are 5-12 pips...on 4 different currencies...I see no need for anyone to involve themselves in helping a strategy that can go hugely in the hole for 10-20 pips on each trade the fact is the rest of the trades dont show up cause they are still IN the market...I dont see the point in helping someone get a better backtest so he can sell it to people who are gonna lose their money. Investor Me your inablitly to answer questions is proof you are trying to get inexperienced traders to get involved and buy whatever this thing is you are trying to sell. in your first post you said you derived this from an academic ???? what kind of academic.. how academic do you have to be to put up a simple pivot indicator on a chart...but since you DERIVED it then you have the source code, no one who is an actually trader/coder is going to help you since you just want to sell it all you are trying to do is make it backtest better through real traders...I would not in my right mind sell anything that made me an assload of money cause i wouldnt need the money, nor would i need to risk other peoples money... MIKEX you would buy an EA that makes 8pips a day?? why only 8, if manually you cant guess 8 pips based on high-low range with a simple moving average or pivot cross then id find a new hobby....a simple trend indicator can get you 8 pips... i just showed a friend last month who was in disbelief i made the money i did, i told him for 4 hours i will make 10% an hour average i think he shat himself when i took 1000 and turned it into 1400,, but he looked at what i was doing and was so amazed how easy it was, i gave him metatrader program and my indicators i was using in a template, he has yet to have a winning week why '''PRACTICE and feeling the market'' something an EA cant do it cant adjust or feel the market, but with practice the human mind can and will, and so will my friend, since we do voice chat during market hours, he made more pips this friday then i did, cause i was shall I say adjusting the size of my joint ''i would not recommend that unless your capable of doing it
Hi automatedtrader,
Can share your method with us
Then everyone can forget about investor_me which asking people to test his EA without any return.
I would like to quote somebody from the yahoo metatrader group. His answer is very aplicable to what happend here in this topic.
Because some of you DEMAND! that every sort of information or help you get should be free. Some of you walked in here on this forum only a few months ago or heared for the first time of forex trading a few months ago and you expect (or better DEMAND!) that those who spend hundreds or thousands of hours to become experienced, should give al of their knowledge for free.
Some are willing to do this if it conserns generall information. I do this to. But I find it perfectly normall that someone would ask money if he gives something valuable that depends on the thousands of hours he spend on it.
Investor_me gave his information for free now but he should not have dun this if he was convinsed of the quality of his results. He gave you the opportunity to work together with him on his EA so you could witness if his EA would work. That is far more then others (even here on this forum) who try to sell their useless EA's (read crap or scams) and who are even not willing to give some kind of a try-out period.
Like I said this was posted on a other forum but the bottom line of this posting is very aplicable on what happend here in this topic:
Some of you think that because you made a lott of posting that you contributed to this community, but in reality you are not one step further to be profitable then when you started. So what the hell is wrong if someone would ask money for something were he proofs publicly that his information helps to be profitable ?!?!...And most important, nobody was forced to help. Those who wanted to help expected to see proof that his EA would work at the end and for a good working EA they were indeed willing to pay for it...
I prefer a lott more that someone asks money for valuable information or help then others who give tons of "information" for free that is just plain nonsence or a bunch of crap...
friendly regards...iGoRoh iGoR your are too kind to help wihtout return.
in pharmaceutical industry they pay for those people who volunteer to test the medicine
dear investor_me are you paying our member here to test your EA?