Simbasystem-gbpusd - page 105
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Simba,
Ok...I did it first try...I cannot believe it...you know it was very simple. those of you intimidated by all those files in the zip folder...they are just indicators and one template...no problem...The second file is the EA.
Simba I have all of this on the M5 cable...
Thank you for all of this work you have done...This is extensive...I hope everything works and I get some entries in my IBFX 1K demo account that I set up for this.
ES
Hi ES,
You need both the EA and the indicators,so you have to download both the zip file and the .mq4
Regardsto ES
Simba,
Ok...I did it first try...I cannot believe it...you know it was very simple. those of you intimidated by all those files in the zip folder...they are just indicators and one template...no problem...The second file is the EA.
Simba I have all of this on the M5 cable...
Thank you for all of this work you have done...This is extensive...I hope everything works and I get some entries in my IBFX 1K demo account that I set up for this.
ESES,
Thanks for your comments
1-Please use it on GBPUSD and GBPJPY only
2-Expect around 1 trade per week per pair,so,don`t get frustrated if you don`t get any trade for a few days
3-Expect around 1 winner and 2 losers every 3 trades,approximately,this is a low winning average,high payoff system,with controlled risk..so,don`t get frustrated if you get 3 losers in a row,just give the system the opportunity to make several trades per pair and you will see the results
4-Try,if possible, to use the standard settings with atr_tp=false and tp=355,these are the settings that have shown out of sample robustness
4-Since you are using it on a demo account,may I suggest to use a demo Equity of 10k per pair?So,if you want to demotrade only cable,10k is ok,if you want to demotrade both cable and GJ,please use 20k as demo account equity...the system is designed to work safely with 1 lot for every 10k ,per pair...If you prefer to stick with 1k demo account use 0.1 lots and choose one pair
If you have any questions,suggestions,etc,please feel free to ask,and if you want to keep everybody updated about your weekly results with the system,I would be extremely thankful
Regards
Simba
Simba,
first of all...thanks for your contribution!
Great way to approach the retracements! Was reading and testing for the last 1-2 months or so!
For the EA, do you set the SATL filter to true or false?
Regards...
systems drowdown risks
Simba
If in reality one can achieve those results , I must agree that your system is very good although I would like to reserve confirmation of this until I give it a try and test it out
Please do accept my sincere apologies
Best Regards
El CidEl Cid & Simba
I hope you both are aware of systems max. potential drawdown risk at 95-98% MC confidence range. it's 90% of the account if sized the way you report it here. of course you can use lower sizes to keep it near 20% of account but then the yearly paerformance drops down to near 40% yearly. for private traders just time waisting unless you get accounts over some hundert thousands or manage large funds.
regards
El Cid & Simba
I hope you both are aware of systems max. potential drawdown risk at 95-98% MC confidence range. it's 90% of the account if sized the way you report it here. of course you can use lower sizes to keep it near 20% of account but then the yearly paerformance drops down to near 40% yearly. for private traders just time waisting unless you get accounts over some hundert thousands or manage large funds.
regardsSimba's EA gearing may be too high and 0.2 lots may be more appropriate.
Perhaps simba can comment on this
The above test report which may be highly optimised but the Ea in first post shows a drawdown of around $6,000 on a $10,000 account on my back tests
I would only use the Simba system with 0.2 lots as with the settings in post 1
If anyone started trading before the worst drawdown period,I look at all my systems on this basis,the mind would not be able to cope with 50 % drawdown and continue to trade without fear .Here is worst drawdown report.
regards
El Cid
to dxtrade
Simba,
first of all...thanks for your contribution!
Great way to approach the retracements! Was reading and testing for the last 1-2 months or so!
For the EA, do you set the SATL filter to true or false?
Regards...Dxtrade..Set it to true,basically what it means is that,even if you have a signal,to be valid,price must be above SATL for a long or below SATL for a short..testing has shown it to be a very good filter
Dxtrade..Set it to true,basically what it means is that,even if you have a signal,to be valid,price must be above SATL for a long or below SATL for a short..testing has shown it to be a very good filter
Thx a lot... will post my forward test on a FXDD live account here, if you have no objection!
Worst Drawdown
Simba's EA gearing may be too high and 0.2 lots may be more appropriate.
Perhaps simba can comment on this
The above test report which may be highly optimised but the Ea in first post shows a drawdown of around $6,000 on a $10,000 account on my back tests
I would only use the Simba system with 0.2 lots as with the settings in post 1
If anyone started trading before the worst drawdown period,I look at all my systems on this basis,the mind would not be able to cope with 50 % drawdown and continue to trade without fear .Here is worst drawdown report.
regards
El CidHi El Cid,
I have to say that this a post that really contributes,and I am serious,I really appreciated your comments..
1-The EA you tested for the worst drawdown period(around 2 years) shows a profit of 8k on 10k account..80%+ on worst drawdown period is nothing to discard to the bin
2-The EA showed a 6k drawdown(50% relative to Equity at the moment of Drawdown),which I agree,is very difficult to handle for most traders
3-The recommended settings of MAX 1 lot for every 10k in account,are MAX,and based on long term testing and ,as explained in previous post,with an out of sample expectation of 25% to 35% AVERAGE expected drawdown..so,if any trader feels they can not handle this ,there are many solutions....
A-Do not trade this EA
B-Reduce lot size in order to have an expected out of sample Drawdown within your limits,of course,expected returns will decrease accordingly
c-My personal suggestion:Trade this EA with max lot size,within a portfolio of EAs/trading strategies,allocating whatever % of total equity you deem fit
4-Basing lot size on worst drawdown period is a,partially, valid option,though not the one I would select(I prefer 3c above),so,if you personally think that 0.2 lots is your size(no pun intended
),that is ok with me ..it means your max accepted percentual DD is going to be around 10%,for the worst drawdown period,and about 6% on average long term trading..in my opinion you are leaving lots of money on the table,but your reasoning is right,since it is just a matter,as with any system,of knowing beforehand which level of risk is acceptable..so,if you use 0.2 lots,you are going to get 16% return with 10% max drawdown,instead of 80% with max 50% drawdown..FOR THE WORST DRAWDOWN PERIOD..AND you are going to leave tons of money on the table for ALL THE OTHER PERIODS,losing the benefit of compounding for the long term
The Ea has a money management option,you can set it to true then choose the % of risk and test with it to fit the Reward to Risk results to your risk profile
Regards
Simba
Forward test
Thx a lot... will post my forward test on a FXDD live account here, if you have no objection!
Dxtrade..I don`t have any objection,just the opposite,I appreciate it..my only comments being :
1-I strongly suggest you use it on demo first,anyway,it is your decision
2-Be it on demo or on real,please be so kind to post the exact settings you are going to use and for what pair(s),I will check them if you want,basically the right settings are atr_tp=false and TP=355,though you can use too atr_tp=true and then 4,4 the 2 atr settings,the other settings must be as posted in the EA,and you will have to adapt the lot size to both your account size and the number of pairs traded,1 or 2..
3-As shown by all the tests,this is the kind of EA that wins 1 and loses 2 of every 3 trades,on average,with an interesting payoff and a positive expectancy due to avwin to avloss ratio,this means that you will have to allow some room for trades to develop,and since it trades around once per week,you will have to run the test for at least 6 months to have a representative number of trades with a minimum of statistical significance
No problem, here we go.
I use it on FXDD live on GBP/USD and GBP/JPY on M5 as advised by yourself, with the following settings:
UseSATLFilter=true;
ChandDist_Min=35;
ChandDist_Max=100;
UseChandIfTouched=false;
WPR_Period=90;
WPR_TopLevel=-8;
WPR_BottomLevel=-92;
TPPips=355;
atr_for_tp=false;
atr_period=4;
atr_multiplier=4;
AllowReentries=false;
MaximumRisk=2; (I never trade more then 2% of my balance on any trade)
We will see....