10points 3.mq4 - page 63
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The pips you save could be used to carry you 1 step farther or add to the profit margin when the market does turn. I don't know if 14 was the correct # to use for the calculations but there comes a point in time when that earliest trade will never be recouped, because 10p3 as written will never back up that far before closing everything. By being proactive, and closing the losers out early, you could also not have to have as big of a rebound to get out with a profit, which in the later stages would allow you to close quicker and possibly it would get back in, in the correct direction??? just an idea
That is similar to my idea, but I would want an indicator to tell us that it is likely we wouldn't make profit. I don't know what that indicator would be, but a "negative confirmation" or "loss confirmation" would be very useful to determine what trades should be exited early. If nobody else does this soon, I will go back and look at winning vs loosing trades and find an indicator that has a correlation between "trades we were down on and lost" vs "trades we were down on and won later". I don't think that there is any good solution purely based on stop loss numbers and margin, we need to look at the trade itself and collect more information. What information, I don't know yet.
Matt:
I think times 1.6 is a very good idea, what about Secure Profit and orders to protect will you keep that in, read in this forum regarding Terminator that the best opening of orders is Pivot Timezone, that's what I read anyway, may just want to use the opening orders from Terminator to let the user of the EA have his choice, moslty liely that would be easy for you. Just don't jknow how secure profit will work with this 1.6 times?
Matt: I think times 1.6 is a very good idea, what about Secure Profit and orders to protect will you keep that in, read in this forum regarding Terminator that the best opening of orders is Pivot Timezone, that's what I read anyway, may just want to use the opening orders from Terminator to let the user of the EA have his choice, moslty liely that would be easy for you. Just don't jknow how secure profit will work with this 1.6 times?
secure profit can be as low as 5, the trade will automatically close when your net profit is more than 5 pip.. however by setting it higher will give more profit but your taking high risk to close all postions early
Matt: I think times 1.6 is a very good idea, what about Secure Profit and orders to protect will you keep that in, read in this forum regarding Terminator that the best opening of orders is Pivot Timezone, that's what I read anyway, may just want to use the opening orders from Terminator to let the user of the EA have his choice, moslty liely that would be easy for you. Just don't jknow how secure profit will work with this 1.6 times?
I was just working on this EA right now and thinking about SecureProfit and OrderstoProtect. I thought the way these were supposed to work is if you had OrdersToProtect set to 3 and MaxTrades set to 6 then the EA would be looking for a quick way out by using the SecureProfit after it had passed the amount it was to be protecting (if that makes any sense). I have not seen this happen in my testing and have always seen it try to get full profit no matter how many trades were open. I am not sure I like the idea of a quick out in this EA and would personally prefer to see it try for the full profit which should be easier with MaxTrades set higher (10?) and smaller margin needed using 1.6 as the stepping. I was planning on leaving it out hoping that no one would disagree. This EA will need some serious re-thinking since orders will be handled different and some other things. I am looking to close older hopeless orders and setting S/L values differently based on how far it should go before turning around is not an option. In other words, if we were using T/P of 38 then by the time the 4th position was opened the first would have no chance to be profitable and could only possibly be pulled down further. In this case I would have set the proper S/L so that the system closed the order itself and the EA doesn't need to worry unless another position is needed. The EA will also have another section that double checks open orders to make sure they close when they should based on their S/L and T/P.
As far as the Terminator goes, I would like not to use it simply because it has been brought to my attention that it is being discussed in the elite section. It slipped into a free section where I found it and posted it here although I was told it was never supposed to be released yet. At this point I really can't use it out of respect to the originator's wishes. I think even the Terminator could stand to benefit from more than one indicator making the decision to go long or short.
I was just working on this EA right now and thinking about SecureProfit and OrderstoProtect. I thought the way these were supposed to work is if you had OrdersToProtect set to 3 and MaxTrades set to 6 then the EA would be looking for a quick way out by using the SecureProfit after it had passed the amount it was to be protecting (if that makes any sense). I have not seen this happen in my testing and have always seen it try to get full profit no matter how many trades were open. I am not sure I like the idea of a quick out in this EA and would personally prefer to see it try for the full profit which should be easier with MaxTrades set higher (10?) and smaller margin needed using 1.6 as the stepping. I was planning on leaving it out hoping that no one would disagree. This EA will need some serious re-thinking since orders will be handled different and some other things. I am looking to close older hopeless orders and setting S/L values differently based on how far it should go before turning around is not an option. In other words, if we were using T/P of 38 then by the time the 4th position was opened the first would have no chance to be profitable and could only possibly be pulled down further. In this case I would have set the proper S/L so that the system closed the order itself and the EA doesn't need to worry unless another position is needed. The EA will also have another section that double checks open orders to make sure they close when they should based on their S/L and T/P. As far as the Terminator goes, I would like not to use it simply because it has been brought to my attention that it is being discussed in the elite section. It slipped into a free section where I found it and posted it here although I was told it was never supposed to be released yet. At this point I really can't use it out of respect to the originator's wishes. I think even the Terminator could stand to benefit from more than one indicator making the decision to go long or short.
Thank you for your ideas.
I like the idea 1.6times. If we can make that, i dont think we should close the hopeless orders. For euro ATR is about 70-100 daily...we can set 8 max trades 15 spacing and surely it will close somewhere. Just my 2 cents
Ea
We are very fortunate that there are so many of us interested enough to contribute to this thread. These latest posts are encouraging and we can expect soon to get an improved EA to test.
The 1.6 progression sounds good and closing unproductive trades in the sequence will improve not only profitability but margin requirements. Which indicators to use for the best result will be better assessed by others with coding experience.
I am now after 2 successive MaxTrades6 losses starting 2 different forward testing scenarios.
The first continues from before and now concentrates only on EURUSD & USDCHR but with MaxTrades7 and starting at .05 unit.
The second uses all recommended pairs with MaxTrades10 and startes off at .01.
I want to see if MaxTrades10 will ever be closed by the Dynamic Stop and how soon will MaxTrades7 be breached.
This weeks results are attached.
As far as Terminator is concerned it seems that the Elite Subscription have requested removal of all downloads and in deference to their wishes I will cease my posting of Terminator testing but in saying that I have found that 10points has had superior results in my forward testing.
John
tf
Closing unproductive trades may not make the most money. I'm not a coder,but I have been working on it all day on paper. When you close a tade at the open of a new one, then you lose everything if the mkt reverses. IE if pepstep is 17and you are at the 4th level and close the first. you are at -68 or -17 * 4. Now if the mkt reverses and you have take profit at 17 you just lost those 17 pips. The other 51 were lost already, but the 17 you just lost could have been recovered. That means when it reverses, you have to recoup an extra 17 pips somehow.The only way I see to make this work is to have a larger take profit which is riskier. I just hate to carry the dead weight, there has to be a solution.
tf
Daraknor,
You don't need an indicator in this case to let you know confirmation of direction. 10P3 is written so that it will close trades automatically, when certain criteria is met. So once it gets so far from an older trade, it never has a chance to get back to it, before it will close. I just didn't want to carry the loss to successive levels, but as stated above, I don't know how to do it without increasing the risk.
tf
For a stand alone indicator for trend direction, I like silvertrend_signal. Heiken Ashi and triggerlines are also good. But 2 confirming signals would be a plus. Look at post 584. This would help from getting whipsawed so much. Any other ideas??? If we got started in the right direction, then we might not settle for a 20-25 pip profit but ride it till another indicator told us to close or until the current indicator or indicators showed a reversal. I think there are better exit indicators though. Mostly we've been looking at how to turn a loosing trade into a winner, but if we get started more often in the correct direction, our efforts will be focused on maximizing profits. However the most important part of the EA should be to get your loosers to breakeven or above. This will allow you to hang on to your capital.
can any programmer here shows which part of the code that has doubling formula? i want to change to 1.6times