Terminator v2.0 - page 19
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Hi cubesteak,
Are your settings default? If not could you post them please?
ThanksSet files here: http://www.cubesteak.net/downloads/Terminator2presets.zip
I believe most are default, but with conservative lots sizes. File names tell you what pair and what position (long or short) that I'm taking.
Hope it helps!
Cheers,
CS
for long or short trades only, are you just setting option in common tab for short only/long only? i added option in ea for want longs/want shorts but will only post it if you guys think it will help. dont want to confuse anyone especially myself
for long or short trades only, are you just setting option in common tab for short only/long only? i added option in ea for want longs/want shorts but will only post it if you guys think it will help. dont want to confuse anyone especially myself
I just use the setting in the common tab. I think that gets saved in the .set files too... Any reason you can see to add it to the EA vs. using the built in feature?
cheers,
CS
I let this EA run through the US Consumer Confidence Release, mostly because I wasn't paying attetion and was an hour off on most of my clocks. When I looked at it at 10:30(Which I thought was 9:30), it has used every last bit of margin and it even went negative a few times. It was almost $1,000 in the whole, but it came back and made some money while doing it. Very scary, but at least I know it can handle some major news events. You all can thank me for testing this on a live account. LOL
I let this EA run through the US Consumer Confidence Release, mostly because I wasn't paying attetion and was an hour off on most of my clocks. When I looked at it at 10:30(Which I thought was 9:30), it has used every last bit of margin and it even went negative a few times. It was almost $1,000 in the whole, but it came back and made some money while doing it. Very scary, but at least I know it can handle some major news events. You all can thank me for testing this on a live account. LOL
Good to hear it turned out well for you Ducati.
Talking about margin. I noticed while Demoing, when a margin call is initiated, what happens is that the broker will close a losing position. If that losing position coincides with one of the trades the EA has opened, the EA will close the other positions relative to it.
The EA also does this if you manually decide to close a trade that the EA has opened. Any other trades associated with it that the EA has opened, will also be closed by the EA.
For example you have a set of trades as follows:
USDJPY buy 0.10 lot
0.20
0.40
0.80
1.60
If you (or your broker in case of a margin call) close the last position, the 1.60 lots, the EA will close the remaining ones too.
I believe (Someone correct me if i am wrong as i am not sure) if you intend to close a trade manually, similar to the example above, or if you believe a margin call is imminent, you momentarilly disable the EA until the position is closed. Then once this is done to re-enable the EA. I beleive this will stop the EA from having to close the remaining ones too.
Again, i'm not sure if this will work, so someone correct me if i am wrong.
Meanwhile a question for Tom
I noticed in your statement, during the weekend you had open USDJPY positions which maxed out the MaxTrades 10. At some stage if you had a maxtrades of 11 that would have kicked in as well. But what i want to ask is, what will happen if the maxtrades limit is reached and the market keeps going against you? What would you have done if it didn't correct itself and kept going down? Adjust the maxtrades accordingly? Just curious. Thx
hades291
Meanwhile a question for Tom
I noticed in your statement, during the weekend you had open USDJPY positions which maxed out the MaxTrades 10. At some stage if you had a maxtrades of 11 that would have kicked in as well. But what i want to ask is, what will happen if the maxtrades limit is reached and the market keeps going against you? What would you have done if it didn't correct itself and kept going down? Adjust the maxtrades accordingly? Just curious. Thx 
hades291Good question.
Some factors to consider:
money management - maxtrade depth, how deep are you willing to go in lot size?
interest charges - trading in the direction of positive swap interest - if you need to hold over time, get paid for it.
account funding - can your account sustain the drawdown? do you have enough money to stay in the game?
risk tolerance - a combination of intelligence, experience, and the size of your brass body parts. (a little humor here guys)
The settings, mainly lots=, takeprofit=, and pips= are the result of months of testing and losses incurred. From this actual data the above settings were made. Since then, with deep pockets and high leverage, there have been no substantial losses with default settings. This EA is fairly young so I cannot say it WILL not incurr losses. If that FACT ocurrs with deep pockets and high leverage, I will examine it with all data taken into consideration and look to create a handle on it. There are no promises that I will as we are working with probabilities and not perfection at this time. Additionally, those test accounts that sustained losses have fully recovered as a result of the evolved settings - which were based on fact and data acquisition and not speculation.
To answer your question more specifically, I would not have increased maxtrades. I did in fact maintain trading discipline within the design of the EA and its settings and rode it out. The account sustained the drawdown and made it through with profit. Included in the profit was positive swap during the time I was holding those positions. It turned out well, no FACT of loss. I will deal with the 'what ifs' when a fact occurs. It helps to maintain productive focus.
Hope this helps.
tom
My take on this EA is that is is fairly safe at non-news times. I got very lucky yesterday, but if the dollar had continued to weaken without a pullback, I would have gotten nailed.
I will close all positins in pairs related to a news event. I would rather take a small loss of a couple hundred than blow my account. I am trading 19 pairs on .01 lots and max trades 10. It consistantly is bringing in around $150 - $200 a day. I am trading in both directions, max trades set to 10 and open ordersbased on 0. I am thinking of changing it to 5 because I noticed the drawdown is MUCH less on my other account with it set on 5. Profits are less too, but thats ok.
Tom, I'm curious about the reasoning behind trading only in the direction of positive swaps. The logic of being paid for waiting for a correction seems sound, but the amount of money earned in swaps is relatively small compared to what is earned in actual trading, isn't it?
It seems to me that if you trade only in one direction, over time you'll only be trading half as much in that pair, so your profit will be cut in half. Do you really feel that the small gain in positive swaps justifies cutting profits in half?
Brian-
Tom, I'm curious about the reasoning behind trading only in the direction of positive swaps. The logic of being paid for waiting for a correction seems sound, but the amount of money earned in swaps is relatively small compared to what is earned in actual trading, isn't it?
It seems to me that if you trade only in one direction, over time you'll only be trading half as much in that pair, so your profit will be cut in half. Do you really feel that the small gain in positive swaps justifies cutting profits in half?
Brian-Good question.
In theory it may seem trading only one way would cut profits in half. Try increasing the number of currency pairs if the account would bear it.
Backtesting does not reflect positive or negative swap.
Some pairs pay more interest than others. Most pairs with jpy as a secondary currency are examples along with usdchf off the top of my head. One time I was languishing at 12.8 lots on usdchf for about 3 days. By the time I got out with about $1k profit due to account protection I also had an additional $1150 interest profit bringing the total to $2150. If the interest were reversed I would have had a small loss for the time spent.
Also it could possibly occur that one may be holding a negative position for a long time. If the account could sustain the drawdown, by accumulating positive interest over time the position would eventually go in profit and/or offset the drawdown.
I used to think as you do - gee, swap doesn't really amount to much. I revisited that idea and crunched some numbers. It could be a very powerful ally over time - especially if the market moves against you and you get into the higher lot sizes.
Try this concept out with different demo accounts trading both ways over time. See how you feel come 5pm NY time.
Hope this helps.
tom
Hi Tom,
Thx for your answer to my question.
In regards to question about trading in the direction of positive swap/interest, i am of the same opinion as Tom.
Another thing to observe is that whilst trading in the direction of positive swap, the market doesn't tend to move against those trades as much as it does going the other way. What i mean, is that the EA will tend to reach closer to your maxtrades limit more frequently (Due to market conditions) going in the direction of negative swap, than what it will going towards the positive swap.
Another thing to consider whilst choosing currency pairs to use with the EA is to try and maintain a balance of a currency being shorted and longed. For example if you have 2 pairs you are using it on try the following:
AUDUSD - Long
EURUSD - Short
in the above exampl you have 1 long position for the AUD, one short position for the EUR, and, you have one long and one short position of the USD, thus, balancing the USD out where regardless which way the USD goes one of the two pairs will profit where you slightly wait a bit longer for the market to correct before you make a profit. In my opinion, by trying to balance your long/short positions of a currency (Like the USD example just mentioned), you will be able to utilize the EA on more charts with less trading capital needed.
(Hope this all makes sense..:))
hades291