Here's the new "Goblin" ea...little brother to Predator - page 42

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Some really great ideas and suggestions being tossed around here. I really appreciate them. In a way, the rough markets last week did a good job exposing weaknesses that need to be addressed as seen by all the different testing results. Thanks!

 

GoblinFibo1.1

I will start testing GoblinFibo1.1 this week, and will post the result at the end of the week

 
xxDavidxSxx:
lots of good ideas. Let me point out one thing. If the daily trend is up and the ea takes long positions. Then the price stalls, and starts down. By the time the daily trend direction is turned to down the price can be as much as 100 pips against you. It takes a large move to register as a daily trend change. Good for filtering intraday wipsaw. But slow to indacate a trend change.

What about 4 hr time frame? 1 hr is way to choppy. But if the ea only took trades when all 3 time frames lined up in one direction? And if 4 hr turns against the daily then exit existing positions untill all 3 line up for new entry signal. From the moment all 3 turn the same way it should be good for at least 30 pips.

If all 3 are long, and 1,4 hr turn short, chances are the daily will soon follow.

just some more thoughts.

by the way last week testing I made 1k on aud/usd starting with 5 k account and max trades 10 and 30 pip targets. No s/l

Dave

Very good point. I think we are looking for a sweet spot, that the strength of trend following and pyramid method can be best used.

It's all about the tradeoffs. I think if we wait 1h,4h and daily all line up in one direction to open a postion, we are not using the strength of pyramid method. We need to take advantage of the minor trends that are against the daily trend by using martingale or whatever pyramid tool.

And you are right, it takes a large move before the indicator detects daily trend change, sometimes up to 100pips. That's why I am not sure if we should cut the positions caught in the wrong direction right away. Because sometimes, in a large move, we might see some retracement, the martingale method could probably cover its previous loss with certain number of progression.

We can test goblin using a trend signal of different timeframes. Personally, I believe daily trend signal would be the best. For example, just use 3-day SMA for daily trend direction.

teamfri

 

I don't see any settings posted on 11/28/06. What settings are you referring to? What is 2HR before London time in EST?

Thanks

Also, extra to my previous post, I read somewhere of a Trailing TP which I guess if the price continues in the right direction then keep going until maybe a few pips in the wrong direction the sell instead of settling on a set TP price. Does Goblin have this Trailing TP option?

 

This is the way too trade Goblin, except you need hedging protection just in case of disaster......if this EA has hedging protection like i stated, this would be i think as close to the holy grail as we are going to get....check out my forward testing performance so far....id sleep a lot better if it had hedging protection detailedstatementgoblin.htm

 
phorex_phreak:
This is the way too trade Goblin, except you need hedging protection just in case of disaster......if this EA has hedging protection like i stated, this would be i think as close to the holy grail as we are going to get....check out my forward testing performance so far....id sleep a lot better if it had hedging protection detailedstatementgoblin.htm

Hi phreak,

Great results but what version are you testing ?

Could you post the EA and settings ?

 
phorex_phreak:
hello everyone,

to be honest with everyone here i think you all are missing the point of this EA.....no disrespect intended to anyone here, just stating it the way it is, to the chap who almost doubled his 10,000 dollar account in 4 days a couple of posts ago, your wayyyyyyyyy overleveraged, one nice big 500 pip move down or up of unexpected news and your account is done!!!!! and it happens more often than you think....its not about the best indicators to tell you what direction the trend is in, you could have the best indicators in the world telling you to go long and then terrible news hits or a bad worldly event happens and it suddenly drops 500 pips with NO retracement...tell me, what is your strategy if you get an unexpected event that makes the currency your trading drop 500 pips???? if you can honestly answer this question with absolute confidence than your ready to go LIVE..if not, than more work needs to be done on the systems weakness, which is hard , fast trends in one direction with no retracements.....what are the answers?? ive stated them in another post ill state them again:

Phorex Phreak Solution To Big Moves

For this kind of EA to have a chance at any longevity long term and avoiding its prime weakness of the big 400-500 move without a retracement there are 2 steps that MUST be implemented in the EA before even considering using it.......

#1- when a position goes against you and lets say your second order is executed to open, the EA MUST close the first one at a loss, why??? to avoid building up positions and using unecessary margin..so if a 3rd position is opened, that second one is closed at a loss as well, and so on, until you current position covers the losses for the other losing closed positions and profits some..

#2- starting with .01 nano lots, now lets say your max trade is open all the way at 10, this means that your down 5.12 lots, now if the position goes against you another 20 pips, which would be at the 200 pip mark from the first order, open a hedge at 1.05 lots the other way simultaneosly, if it goes against you another 10 pips, add another 1.05 lots, another 10 pips, add another 1.05 lots, all with 30 pip trailing stops on the hedge orders only, to a max of a combined 5.25 lots ( so 5 X 1.05 lots) in order to buffer the other side, that way if you have a nasty 500 pip drop due to an unexpected news anouncement at least you have some built in hedge protection and even might profit from it because your using 5.25 versus the other 5.12 from the original orders....

Until these issues are resolved with the above 2 points this EA remains dangerous at best with no hedging features....let me know your thoughts....

very nice

 
phorex_phreak:
This is the way too trade Goblin, except you need hedging protection just in case of disaster......if this EA has hedging protection like i stated, this would be i think as close to the holy grail as we are going to get....check out my forward testing performance so far....id sleep a lot better if it had hedging protection detailedstatementgoblin.htm

I agree on the quick turn protection. I can see the boat load of trades open in one direction on your statement. A quick turn would be devistating to the acct. I feel safer with the lower maxtrades settings, probably not going to hit a home run, but might allow slow steady growth of the acct without leaving yourself open for the flogging.

 

mikl,

if you read my 2 protection strategies you wont have a boatload of orders open and id still have hedging protection as well.....

 
phorex_phreak:
mikl, if you read my 2 protection strategies you wont have a boatload of orders open and id still have hedging protection as well.....

Phreak,

Yes i read them, hopefully one of the guys here will work on coding it I would like to test it. This ea appears to be a step away from being a real jewel of a system.

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