10points 3.mq4 - page 112
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Manual close
John,
As a rule, when do you shut off the ea and start closing trades prior to significant morning news reports? Also, do you do this with all red flag news on the Forex Factory Calendar? Since there is red news almost every day affecting the $, the ea would be off 50% of the time? I shut down and closed orders for the red news this morning, and even though the projected numbers for the report were off significantly it didn't affect the market much at all.
I realize this manual part of trading the 10.3 ea's can be a art in itself, just wanted some insight on this from a seasoned trader with this ea.
Thanks!! MikeOnce a month I intervene manually and that is prior to NFP and as previously posted I disregard all news announcements other than NFP. If an EA needs manual intervention it is not for me, in earlier testing I used to manually close down prior to the weekend but now I do not. I have been trying to set Turnip to activate for news events but more as an exercise rather than to actually use it.
Over the past year it seems that there has been a concerted effort by brokers to prevent the average trader profiting from news events. There has been a widening of spreads, an increase in slippage, false spikes and busy signals preventing trades. Spikes and retracements work in this EA's favour often allowing a trade to be successfully completed.
I believe that it is totally counter productive to close down this EA over news announcements and my forward testing over the past 5 months has indicated this. The argument that back testing does not properly show news activity may be correct I do not engage in back testing preferring to forward test. In my opinion too much has been said that has not been adequately researched on the negative effects of News Trading and 10points3.
I have no wish to get into a debate over this subject, I have formed my own opinions from forward testing and have outlined them above, it is up to the individual to decide on their own course of action in regard to all aspects of using any Expert Advisor.
John
Once a month I intervene manually and that is prior to NFP and as previously posted I disregard all news announcements other than NFP. If an EA needs manual intervention it is not for me, in earlier testing I used to manually close down prior to the weekend but now I do not. I have been trying to set Turnip to activate for news events but more as an exercise rather than to actually use it.
Over the past year it seems that there has been a concerted effort by brokers to prevent the average trader profiting from news events. There has been a widening of spreads, an increase in slippage, false spikes and busy signals preventing trades. Spikes and retracements work in this EA's favour often allowing a trade to be successfully completed.
I believe that it is totally counter productive to close down this EA over news announcements and my forward testing over the past 5 months has indicated this. The argument that back testing does not properly show news activity may be correct I do not engage in back testing preferring to forward test. In my opinion too much has been said that has not been adequately researched on the negative effects of News Trading and 10points3.
I have no wish to get into a debate over this subject, I have formed my own opinions from forward testing and have outlined them above, it is up to the individual to decide on their own course of action in regard to all aspects of using any Expert Advisor.
JohnThanks John,
I'm sure I'll form by own method of trading with this ea over time, actually i'm trading bipolar now but from my testing it does not appear to react any different on fast moves. I'm not looking for a debate here, I know you have alot of experience testing this ea and appreciate your opinion.
Rmi
I have been forward testing RMI since the begining of last week with stellar results, the test has been done only on EURUSD and todate it has not missed direction and needing the second progression only once.
I used MM1 with Risk4 on a demo account starting with $7000 and the trades started at 3.0 and progressed up to 6.0 when I reduced the Risk factor to 1 resulting in the next trade being 2.0.
As far as Turnip is concerned I have stopped trying to make it accept the GetNews I have had too much hassle for just an experiment because clearly I did want to actually trade the news. Turnip before the news experiment was also a disaster it never opened a trade over the 2 days it was on a platform.
But RMI is another story and for EURUSD works very well but I have heard of others who did not have such good results using other pairs.
John
reposting
deleted expert not good
Turnip News
deleted due to indicator not working properly and expert is not reading other indicators properly
tools
Hello Yeloeleven : where is the version with RMI indicator ?
I have been forward testing RMI since the begining of last week with stellar results, the test has been done only on EURUSD and todate it has not missed direction and needing the second progression only once.
I used MM1 with Risk4 on a demo account starting with $7000 and the trades started at 3.0 and progressed up to 6.0 when I reduced the Risk factor to 1 resulting in the next trade being 2.0.
As far as Turnip is concerned I have stopped trying to make it accept the GetNews I have had too much hassle for just an experiment because clearly I did want to actually trade the news. Turnip before the news experiment was also a disaster it never opened a trade over the 2 days it was on a platform.
But RMI is another story and for EURUSD works very well but I have heard of others who did not have such good results using other pairs.
JohnHello,
I would like to test 10 points3 with this indicator but don't know which and where is the good version with RMI (the one which works wekk with you).
Can you help me ?
thanks in advance.
Turnip is trash
Do not use turnip or turnip (news) neither one is working correctly.
tools
Re posted version.
Hello,
I would like to test 10 points3 with this indicator but don't know which and where is the good version with RMI (the one which works wekk with you).
Can you help me ?
thanks in advance.Because there have been so many posts on RMI and also about the indicators it is hard to find a post which covers all so I am reposting the version that I am using as well as the indicators needed.
My settings are here and am only using EURUSD
TakeProfit=40.00000000
Lots=0.05000000
InitialStop=0.00000000
TrailingStop=25.00000000
MaxTrades=5
Pips=15
SecureProfit=20
AccountProtection=0
OrderstoProtect=0
ReverseCondition=0
EURUSDPipValue=10.00000000
GBPUSDPipValue=10.00000000
USDCHFPipValue=10.00000000
USDJPYPipValue=9.71500000
StartYear=2005
StartMonth=1
EndYear=2050
EndMonth=12
EndHour=22
EndMinute=30
mm=1
risk=1
AccountisNormal=1
MACD_fast_ema_period=14.00000000
MACD_slow_ema_period=26.00000000
timeperiod=240.00000000
timeperiod2=30.00000000
Par=10.00000000
CountBars=300.00000000
Length=14.00000000
Length2=7.00000000
Smooth=5.00000000
MASmooth=0.00000000
RMIPeriod=14.00000000
MomPeriod=5.00000000
Magic=10201
You may notice that I have included VHT not v.1 and that the code has been adjusted to open VHT. At the time I did not have v.1 but the original one is working fine.
Just a word of caution my RMI has for the first time needed to progress to the 3rd level and currently is showing a floating loss of $1236 and what worries me is that the progression started with 2.0 units then 4.0 but now .4 so I will be watching this progression very carefully.
John
I believe that it is totally counter productive to close down this EA over news announcements and my forward testing over the past 5 months has indicated this. The argument that back testing does not properly show news activity may be correct I do not engage in back testing preferring to forward test. In my opinion too much has been said that has not been adequately researched on the negative effects of News Trading and 10points3.
I have no wish to get into a debate over this subject, I have formed my own opinions from forward testing and have outlined them above, it is up to the individual to decide on their own course of action in regard to all aspects of using any Expert Advisor.
JohnSorry to keep this, John, but cannot avoid questioning the fundamental diferences between forward and berckward testing, for the news. Anyone can clarify that? As there are a significative amount of work towards news, it is important to know the exact flaws of testing.
Recommended EA and setting
After this time of forward testing and given what I have learned I would download the EA on page #18 using the settings as below:-
TakeProfit=20.00000000
Lots=0.01000000
InitialStop=1.00000000
TrailingStop=10.00000000
MaxTrades=10
Pips=15
SecureProfit=10
AccountProtection=0
OrderstoProtect=0
ReverseCondition=0
EURUSDPipValue=10.00000000
GBPUSDPipValue=10.00000000
USDCHFPipValue=10.00000000
USDJPYPipValue=9.71500000
StartYear=2005
StartMonth=1
EndYear=2010
EndMonth=12
EndHour=22
EndMinute=30
mm=0
risk=12
AccountisNormal=1
Magic=10201
On EURUSD USDCHF & USDJPY using M30 TF and starting off as suggested from .01
That is what I have been testing now for some time and fortunately the GBPUSD was omiitted which has caused a huge drawdown on Terminator, Goblin & Jugulator after the results of the past couple of days.
Currently EURUSD has progressed to a .64 setting and has only a couple of trades to progress before hitting the Dynamic Stop. This has not happened to my forward testing of 10points3 and I hope that a retracement occurs prior to that.
Input perameters do not worry me they will calculate the overall position of the progression but I agree that they could be out in the way that you suggest. The difference is not worth worrying about so I wouldn't bother to make any changes.
I have included a detailed report for this week to date and it is the only EA of this type that currently is in profit from my testing.
JohnHi John,
Firstly, thanks for forward testing different 10point3 series EAs and posting the report, so we can have a better understand of the attitude and limit of those EAs.
Can you please kindly advise if your recommended EA and setting has been changed from the above suggestion? Is it still being used on the m30 time frame?
Your experience and advice are highly appreciated.
Thanks in advance!
Regards,
Geoff