MagicRSI - page 5
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lStopLoss = 20; //60
sStopLoss = 20; //60;
lTakeProfit = 20; //2000;
sTakeProfit = 20; //2000;
Now the drown down is about 12%
And the equity line seems better
Why spider have you changed the soploss and take profit?
these are the results
statements
lStopLoss = 20; //60
sStopLoss = 20; //60;
lTakeProfit = 20; //2000;
sTakeProfit = 20; //2000;
Now the drown down is about 12%
And the equity line seems better
Why spider have you changed the soploss and take profit?SL can be changed to personal preferences once you feel comfortable with the settings. Just be aware that changing SL you will also have to adjust your TP to compensate. But overall it all comes down to how you want to run it. For me, i like to give the trade some breathing room to make some profit. A 20 pip SL for my broker on some days would spell disaster in a second since they like to increase the spread to 6 - 9 sometimes on the EURUSD. So again please use personal judgement on SL and TP.
As for backtesting, even with History Data from Alpari i wouldn't trust anything past 4 months. Personal choice there.
Spider~
I just started v.3 this morning on demo acc eurusd TF H4 default setting. This baby makes 2 trades all win, got 28 pips in only 10 - 15 minutes each trade. This is the most amazing EA I ever see
Thanks Alpin,
I just like the RSI so i really wanted to see what we could do with this EA. So far my live and demo accounts are doing very well. We just need to see a losing trade though sadly to really see if this EA can recover. Please make sure to figure out your SL and TP as i stated to ienaplinsky since we may differ on reuslts on backtests.
As for the Martingale i actually combined that with this EA but did not like it very much since i have had alot of bad experiences with Martingale type EAs. For now by personal choice i would rather stick with MagicRSI v5 and just one or two trades open. By just using one or two trades at one time larger lot size can be used. Matingale you would be limited on the lot size from the start based on the room needed to let your margin grow although ppl do prefer that somtimes.
Dynamic Trailing Stop i am also working on with some friends since your right this could help out the current setup. I will have some more time coming up this weekend to complete that setup so untill then MagicRSI v5 is were i am at for the time being.
Thanks again to all that are helping with this EA!
Spider~
Thanks Alpin,
I just like the RSI so i really wanted to see what we could do with this EA. So far my live and demo accounts are doing very well. We just need to see a losing trade though sadly to really see if this EA can recover. Please make sure to figure out your SL and TP as i stated to ienaplinsky since we may differ on reuslts on backtests.
As for the Martingale i actually combined that with this EA but did not like it very much since i have had alot of bad experiences with Martingale type EAs. For now by personal choice i would rather stick with MagicRSI v5 and just one or two trades open. By just using one or two trades at one time larger lot size can be used. Matingale you would be limited on the lot size from the start based on the room needed to let your margin grow although ppl do prefer that somtimes.
Dynamic Trailing Stop i am also working on with some friends since your right this could help out the current setup. I will have some more time coming up this weekend to complete that setup so untill then MagicRSI v5 is were i am at for the time being.
Thanks again to all that are helping with this EA!
Spider~ur live account is running with the def settings form rsimagicv5? with 10pips tp and 60/75 SL?
i go live end of week with a little lotsize. i post my statments here.
Result
Hello Guys,
First of all , thank you for this wonderful ea and for all there who have been put your effort to make this ea works.
I been download V5 backtest using default setting for EU pair. Attached is my result.
been using as suggested on D1 TF , also i have test on H4, H1, M30, M15 and M5, my finding is M5 is producing a wonderful result.
all test was done from 01.05.2006 to current day.
since i found that M5 TF is producing excellent result for EU pair , I have test using different starting capital and my findings summary is as below : .
Starting capital USD 1 K after 6 month ++ balance is USD 49226.85
Starting capital USD 2 K after 6 month ++ balance is USD 29907.56
Starting capital USD 2.2 K after 6 month ++ balance is USD 25141.02
all this is done using IBFX Mini Account. If using standard acc, u can do the math to see when u will become millionare.
to spider & coders,
my question is how come when the starting capital increase but the net profit become lesser ? is there something wrong the money management code. since im not a programmer , i do not know where is the problem.
Im using MT 4 build 200, initially i though maybe this MT4 build 200 backtest could be a problem, so i run the same setting on MT 4 build 198 still get the same result. Also few other EA also backtest with build 200 is similar to 198
Thank You
Regard
CF
ur live account is running with the def settings form rsimagicv5? with 10pips tp and 60/75 SL? i go live end of week with a little lotsize. i post my statments here.
Yes my live account is running with all the same settings as posted in MagicRSI v5. So far so good. I also have the demo running both V5 and V3 which are both doing well also. I will keep updating the Demo account results.
Spider~
to spider & coders,
my question is how come when the starting capital increase but the net profit become lesser ? is there something wrong the money management code. since im not a programmer , i do not know where is the problem.
Im using MT 4 build 200, initially i though maybe this MT4 build 200 backtest could be a problem, so i run the same setting on MT 4 build 198 still get the same result. Also few other EA also backtest with build 200 is similar to 198
CFHi crazy_forex,
Not really to sure as to the issue with the MM. From my experiences running backtests there has been no issues with the MM. The current MM is based on account growth so no matter what balance amount you start out with it will always start out with the same lot size that is set and grow from there. As the account grows so do the lot sizes. But when a SL is hit as the lot sizes are growing it will feel like a more of a loss since the lot sizes will decrease and begin to build back up to there previous amount. I could change it to were the lot size will stay constant even with a loss which might fix this issue. I will look more into that tonight for ya.
Thanks for your help.
Spider~
Hi crazy_forex,
Not really to sure as to the issue with the MM. From my experiences running backtests there has been no issues with the MM. The current MM is based on account growth so no matter what balance amount you start out with it will always start out with the same lot size that is set and grow from there. As the account grows so do the lot sizes. But when a SL is hit as the lot sizes are growing it will feel like a more of a loss since the lot sizes will decrease and begin to build back up to there previous amount. I could change it to were the lot size will stay constant even with a loss which might fix this issue. I will look more into that tonight for ya.
Thanks for your help.
Spider~Thank you for the fast reply spider,
Maybe u can do some thing like in Phoenix EA, using MM and
Lots = 1;
MaximumRisk = 0.3;
DecreaseFactor = 3;
MM = true / false ;
AccountIsMicro = True / false;
hope u can look into this thing.
What do u think about the 5M time frame ?
i think this EA have great potential with better money management control.
I will test other currency pair also , let the u all know the result later.
cheers
CF