**Steinitz** Method Revealed Here - page 100
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Hi Daniel,
If you are interested in this methodology see Mr Steinitz posting's #1013 and #1016. I believe that all documentation for both variations along with indicators and the EA will have a link there. Also post #1 has all the indicators if they are not found there. The documentation is a little confusing but maybe there is a new edition of it that clears up any confusion. I am not sure being that it is not something that I am activly persueing. It does have its fans though. On FF where he started the thread before coming over to this site Bagovino was a big fan and posted alot of his results. I think he was combining his method with Steinitz's method. Hope this helps.
Michael
EA development
I have am posting this from my other thread regarding the EA development.
--------------------------------------------------------------------------
Originally Posted by MrPip
Don,
Many people know I give freely of my time and experience.
I just want to be certain I am spending my time coding for an ethical person. I have several ideas for possibly improving this EA including easier understanding of inputs. One in particular is for chart time frames. One of the next changes will be to select timeframes from a menu. Instead of being required to know to enter D1 for daily you would only select D1 from a menu as item number 3.
I also noticed that some other programmers plan on making changes. What ever happen to the team approach? The idea is to have one version chain with modifications sent to whoever becomes the lead programmer. I have only heard from one other programmer from the other thread and he felt I should take charge of the project. I volunteered to do so unless someone else would rather do so.
There was even a suggestion to pay the programmers from contributions obtained from members of the thread. If I am paid for my services I will spend more time working on this EA. Right now I am working on 8 EAs for paying clients. What free time I have is spent in several areas, including spending time in my garden for R&R.
Let me know how you want to proceed with the development of this EA.
As for others changing code, many have no idea how to do that. I am posting this version with the expiration commented out.
Robert
Robert.......
Yes finally a post that is worth reading. I agree with what you are saying that there needs to be one programmer in charge of this project. Becoming frustrated I have not made many posts lately for many reasons already stated. This EA is the only robot that I have used that is showing consistent profits with minimal drawdown thus far.
I run 10 currencies at one time including the volatile Cable pairs. It's too early to see how much it will make on a daily average but it is cranking out profitable trades without any losers once again. Remember I traded over 50 winning manual trades posted on the other thread.
I have some ideas that I am willing to share with Mr. Pip as a paid programmer since the other attempts fell on deaf ears. I guess it takes money to make money. I have had numerous emails from members who wanted to contribute to the development of the EA. In the past I held off thinking I would try the FREE method first.
Well here is my last attempt to get this EA polished and with new features including money management. I can tell you I have numerous ideas to make this EA more profitable even though it has no losing trades.
I will send a general announcement here on this thread and directly to my 275+ members. I will be asking for donations from each one of you to be put in my account that I will disburse to Mr. Pip.
Only those contributors will be getting any further developments from this EA. For now I will be only looking to refine and add new features to the "Scalping Method" EA. Anyone can post their ideas of what they want to see on the updated versions. Again only those contributors will be getting any future EA's.
Please do not post any EA's on this thread from now on. Any and all future EA's will be sent individually to each contributor. Any monies left over will be used to fund the next project for the "Original Method". If you are not a member and want to become one please PM me and I will add you to the list. If you want to find out if payment is being made to Mr. Pip please drop him a PM and ask if he is receiving monies from me for development.
I will be asking for $50.00 from each member who wants a copy of all future EA's that Mr. Pip will be working on. This contribution applies only to the "Scalping Method". I will be deleting the EA on this thread and will ask that Mr. Pip do the same thing.
I will accept payment by any means possible that works with you. I understand I am dealing with world wide readers and not everybody will pay the same way. Please contact me by PM or my email address to discuss payment.
steinitz@cox.net
As i already said, i am the one that suggested that the task requires a team job, and that Robert should take the lead of the development with other coders like myself simply coding parts of what Robert and Don think should be added to the EA. This is why i have been silent so far, but i have not been contacted yet, neither by Robert nor by Don.
The offer to assist and help is still on as far as i am concerned , just let me know.
Edit: money is not my concern here, so don't need to count me in the paid coders team. I offered from day 1 to help and i'll keep it that way.
Yannis
Hi Yannis,
I have been meaning to contact you but have been busy. I want to finish my ideas first before abbding anything new. I already have code for the suggestions for trading hours, etc so it will not take that long. I will try to contact you on skype early in the coming week.
Robert
It always worries me when someone has a great systiem and they cant make enough trading it to suffice there greed.
******* Both EA's available here *******
I have decided to post the EA's that Lee has written to this thread for all to use and scrutinize. Regardless of what you think of the code I am happy that he took on this project as he is busy like everyone else with work and family and set apart time to help the cause.
I am sure you will have lots of questions. Please post your questions and comments here for all readers to help answer. I am busy but will do my best to answer what I can.....
Good luck!
EA's removed
New thread !!!!!!!
For those who wish to participate in the further development of the "Steinitz Scalping Method" please join us in the "Commercial section". Most of you already are aware that an EA is finished and works great. In fact the default setting allow one to not have any losing trades. There is some rare holdings trades with drawdown but all these trade come back to profit.
I know it sounds weird to state this but is has such highly correlated entries that to lose is just not in the EA's vocabulary. I am making a bold statement here and Invite you to take a test drive. Please visit my commercial thread over at:
https://www.mql5.com/en/forum
At this point we are only accepting donations to complete the EA with further enhancements and clean up the code to make it user friendly. It works perfect now but I desire total perfection........
See you there!
He would have to have been trading this EA Live for the last month or more for your assumption to be correct, if you read his posts Don has wisely not been trading it live but has instead tested it until it works profitably which is currently being confirmed as time goes by. I believe he may have recently went live. Also many people have multiple streams of income these days. In my opinion the word greed is often overused in trading circles and unless you have spent months in person(not online)with someone it's difficult to truly know their measure of integrity. At what point does the desire to be financially abundant turn into greed, where is that line drawn? The answer is personal as it's not a business rule. Businesses exist in order to be profitable. Who on this forum wouldn't like to be weathly, isn't that why you are here? And to judge someone for wanting to have more of a financially abundant life than you want for yourself isn't logical. Mulitple streams of income combined with the power of compounding those income streams can get you there. Most traders on this forum should be above flippant remarks but somehow this seems to be accepted as the norm. I'm personally tired of seeing traders talk trash, it's immature and unacceptable.
It always worries me when someone has a great systiem and they cant make enough trading it to suffice there greed.
Don
I worry about an ocassional draw down. They will at some point leave you broke.
I had a short on cable one time that I had a guru (doubtful) tell me to hang onto it. It was in the 1.8300 area. that drawdown would likely endager many accounts. Sow just letting drawdowns run on a scalping method does not seem feesable to me.
What do you mean by drawdown on a scalping method?
goldensight, Im sick and tired of people calling everyone immature, it shows a lack of maturity thereself.
there was allso many so called immature who have said all along the sales pitch was coming!
I believe there are folks in this world that would not only give you the shirt off there back, but would even do it if it was there last shirt. Even they have some level of greed. Greed at some level is in us all.
You must interpret what people say in the context of how they say it.
I am in Dons membership and have no problem with his method. IT works, but takes a loss every now and then like any system, Im not going to believe in a never loosing system without some very stout proof.
Im not a kissup
droesparky, From a puritanical christian point of view people who give you their shirt off their back are better than others however in real life those same people have "motive" ie. an agenda, pick their brains thoroughly and you will discover that. If as you say greed at some level is in us all then why even use the word greed and apply it to Don as if Steinetz is different than others? What is it about a sales pitch that bothers you? Do you have a house, did someone sell it to you with a sales pitch? What about a car? People have been making sales pitches for more than a 1,000 years, there's nothing inherently wrong with it unless there is not a product worthy of the sales pitch and below you have shared that IT works which I infer as this product having merit. The whole sales pitch thing seems to really get under peoples skin which I find interesting because if you don't like the pitch simply stay away from the product.
Don
I worry about an ocassional draw down. They will at some point leave you broke.
I had a short on cable one time that I had a guru (doubtful) tell me to hang onto it. It was in the 1.8300 area. that drawdown would likely endager many accounts. Sow just letting drawdowns run on a scalping method does not seem feesable to me.
What do you mean by drawdown on a scalping method?
goldensight, Im sick and tired of people calling everyone immature, it shows a lack of maturity thereself.
there was allso many so called immature who have said all along the sales pitch was coming!
I believe there are folks in this world that would not only give you the shirt off there back, but would even do it if it was there last shirt. Even they have some level of greed. Greed at some level is in us all.
You must interpret what people say in the context of how they say it.
I am in Dons membership and have no problem with his method. IT works, but takes a loss every now and then like any system, Im not going to believe in a never loosing system without some very stout proof.
Im not a kissup