Here's the new "Goblin" ea...little brother to Predator - page 31
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Some results on some very conservative settings
Please take a very close look at this Alpari statement and my used leverage.
Still i like to stress again the much needed underleverage in these Martingale based EA`s.
Keep in mind that almost ALL trading accounts went bust last week, trading hybrids of 10point3.(Terminator+Predator)
They all made 100% in 3 month and than where wiped out.
I am trading Martingale hybrids in a real account since several month with different indicators and pairs.
On Goblin , i found these pairs and settings working well.
I use in my real trading account 2x!!! the leverage as in this account with Alpari, as well.
Janus
Fibonacci vs. Martingale
Bluto,
I think that it could be very interesting to compare Fibonacci vs. Martingale progressions like suggested earlier by frantacech. Could you modify Goblin to add this option ?
JanusTrading, Thanks for posting your results. I think it is important for other Traders to realize that the kind of results you posted are possible, HOWEVER I hope that people who read your statement also look closely at the starting balance of $500,000 and remember that you are wisely suggesting to use LOW LEVERAGE as is reflected in your post. Many traders(I think)are testing Goblin with the same type of leverage as yourself ie. mini lots BUT they only have $5,000 and they need to realize that that is TOO HIGH of a leverage for a $5,000 test. My two cents. cheers
Folks - I think I've made another breakthrough with these indicators. I've studied the price action today bar by bar for the majors and compared the behavior of the indicators. Contrary to earlier beliefs, I can see where the JVEL indicator timeframe needs to be equal to the chart timeframe. Currently for an H1 chart, JVEL is H4. This is great for overall trend but it needs to be tighter for these volatile markets. When JVEL and JRSX were both set at H1, you could clearly see the advance warning of momentum change coming before those fast bars struck. I haven't looked at M30 or M15 timeframes but I suspect the noise factor would be troublesome. I'm going to be making some alterations to allow the trade direction to adapt to this along with a few other tweaks. I'll be posting a revised version of Goblin soon.
What leverage should we be using?
Folks - I think I've made another breakthrough with these indicators. I've studied the price action today bar by bar for the majors and compared the behavior of the indicators. Contrary to earlier beliefs, I can see where the JVEL indicator timeframe needs to be equal to the chart timeframe. Currently for an H1 chart, JVEL is H4. This is great for overall trend but it needs to be tighter for these volatile markets. When JVEL and JRSX were both set at H1, you could clearly see the advance warning of momentum change coming before those fast bars struck. I haven't looked at M30 or M15 timeframes but I suspect the noise factor would be troublesome. I'm going to be making some alterations to allow the trade direction to adapt to this along with a few other tweaks. I'll be posting a revised version of Goblin soon.
Bluto,
Thanks a lot for your excellent work. I am as glad as you for every progress you made.
And I want to share one thought about goblin. I think there is a fundamental difference between the trend following system and goblin. For a typical trend following system, you have to be in the market all the time, and everytime there is a signal of direction change, you cut loss the previous positions that not yet closed. That means you take loss at the whipsaw in order to catch every big fish in the big move.
But that's not the way goblin works, when goblin's indicator signals a direction change, the existing postions won't be closed, because they are taken care of by martingale. That means, no matter how good or how accurate your indicator is, there's always a good chance for goblin being end up against the big move.
Damn, I think about goblin like every minute of the day and almost feel dizzy, hopefully we can find a way out. Thanks.
teamfri
Bluto,
Thanks a lot for your excellent work. I am as glad as you for every progress you made.
And I want to share one thought about goblin. I think there is a fundamental difference between the trend following system and goblin. For a typical trend following system, you have to be in the market all the time, and everytime there is a signal of direction change, you cut loss the previous positions that not yet closed. That means you take loss at the whipsaw in order to catch every big fish in the big move.
But that's not the way goblin works, when goblin's indicator signals a direction change, the existing postions won't be closed, because they are taken care of by martingale. That means, no matter how good or how accurate your indicator is, there's always a good chance for goblin being end up against the big move.
Damn, I think about goblin like every minute of the day and almost feel dizzy, hopefully we can find a way out. Thanks.
teamfri>> hopefully we can find a way out. Thanks.
...we will.....
Bluto,
I added choice on Fibonacci or Martingale progression.
I changed it to true Martingale. I mean, how arbitrary was it to start increasing the lot size by 1.5 after 12 lots?
If someone wanted to limit the risk, write a curve, so the second lot was doubled, the third lot was 1.9, the fourth lot was 1.8 .. hmm that sounds neat too.
Anyways. wanted to hand this over to you in case you could use the bit of code to offer choice of Fibo or Martingale in your upcoming revision.
Detailed statement
Hi John,
The attached is the statement. Two EAs are running for the Account.
Four majors are using Goblin. This is a living test with IBFX. So I have modified the lot size for the EA so that it take smaller position each time (Since this account is less than 200 $).
Thanks for your help.
ScottThanks Scott for posting your detailed statement but I find it very hard to follow with so many pairs not seperated and such a large time period.
My recommendation is to close off progressively prior to the weekend as pairs become profitable and start off afresh with the opening of Metatrader on Monday AM Asian time. Then adjust the custom period to only show the current week of action in the history report.
If you only have one EA working the charts and start off from .01 it will be easier to assess and if you click on the Symbol at the top of the pairs column to sort the results into pairs that will help to see the progression, better still only activate EURUSD since your account is relatively small.
Create a demo account and try my settings with all the major pairs whilst you get a feel for this EA. All I can say is that I have had no problems with Goblin but I am not worried about losing money from a live account. Just trade EURUSD live whilst you gain more demo knowledge of how the EA works.
I have been testing 10points 3 since August and Dynamic Stop since tururo created it and I am still learning and yet have to go live. To answer your original question since you have used MaxTrades5 and OrderstoProtect3 you have effectively strangled the EA and in my opinion you should look to give the EA some space to move so either do that in a demo account or reduce the pairs and increase the MaxTrades on your live account.
John
Does it mention in this thread what Leverage we should be using? 1:100, 1:400... What are the main currencies again? or maybe better, what are the currencies that you've found most profitable?