But without disaster SL, if big news and big move or crash PC or internet...?
I agree please look at the first post just uploaded fixed version with SL on all pending orders.
Backtesting didn't look so good. It seemed to have great entry, but the exits were bad. Many positions were in profit, then all went south for a loss.
Currently on forward testing 1 hour TF and default settings there are 7 open positions 6 in profit, one is -$1 on .1 lots. I am curious to see at what point it exits. Can someone explain the TP strategy of this EA?
hello are you using default setting? if so the exit will be after a 20 bar low. this is why you see many winning trades turn into losers. to exit sooner change the exitbarlookback to a smaller value to get the Ea to exit much sooner.
but I agree with you the turtle exit needs some work. I for one hate it when a winning trade turns around to become a loser. Im thinking of putting in something like lock in profit where total profit is calculated, then locked in where EA will exit all trades when profits go lower than the value specified.
Anyways this EA still need alot more work and alot more improvement.
Thanks for testing and good luck at the market.
Yes, I agree. I would rather lock in $100 in profit, than rish a loss hoping for a huge run.
BTW, I have already lost half the profit in my positions. I changed the lookback to 3, but I would rather have a trailing stop.
Is anyone familiar with Tom Yoemans Currency Meter? That is a good indiator to see what the currencies are doing in relationship to each other. For example, if the EUR.USD is moving up, you can't tell if the EUR is strong, the USD is weak, or both. Something a pair will move when both are strong, its just that one is stronger than the other. It takes less for a reversal to occur. When the differential between the pairs is reduced, I take it as a good sign to exit. The problem is that the Currency Meter works only in Excel, and doesn't have a history, so you can only see a snapshot of the pairs, and you have to watch it to see what exactly the pairs are doing.
Edit: My positions have lost 3/4 of their profit.
To what value? and why does the trade not show what profit it's at currently?
did it not lock in the profits with breakeven after pips? pls also change ATRBreakeven multiple to 0.5. the porpose of this is to madify SL after max units is reached it will immediatly lock in the previouse profitable trades. You can do this in the meantime while im still developing the profit based trailing.
change it to whatever value you desire. barlookback is how many bars it looks back where the trailing SL will be based from. you can place 1,20 or whatever(default is 20). The exit price could be found at the upper left hand corner of the chart. "Exit Low" "Exit High", if your trading long exit SL will adjust to exit Low and if your trading Short SL will be adjusted to Exit high.
And about profits EA doesnt show profits.
Please Read the attached Ebook in first post if your not familiar with turtle method to get better understanding of this EA.
Thank you and Enjoy,
I was woundering how testing is going on this EA.
I had a good day yesterday and made profit of just over $200. The bit I hate was when I woke up this morning I had given most of it back .
I have been testing it on the 1 hr charts with default settings ( beta 2 & 3 version ).
Has anyone had good results on a lower or higher timsframe and what settings have you used.
I was thinking if a ATR trailing stop could be added but then we would be heading away from the turtle system.
Sorry to hear that Banza, Dont worry Im working on triling Profit which will track total profits and lock it in to specified precentage. A new version will be out soon.
We are not diverting to the trutle method we are just trying to improve it.
Good Luck on the market, hope its just a retrace, maybe tommorow market will have a happier surprise for you