PipMaker v1 - Price action based EA - page 40
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Automated Trading
Hello! Thanks for this great EA.
When I run it, Alpari MT4, it opens up a trading window and I have to select buy or sell.
I thought this EA automatically execute trading.
Am I wrong ? Or a setting is required to do it automatically ?
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I think I found the answer.
Expert Advisor--->Properties--->uncheck Ask Manual Confirmation
Elvis has left the stage....
pipmaker dont works in longer time
Thanks for advise
simpatico, ElectricSavant, erdenmensch
Thanks for your advise.
I am testing PipMaker with Alpari demo account.
I will not apply it to the live account.
pjo
What broker are you using?
Those of you that want to trade this live...I think (still forward testing with a demo account) that for each 1500 bucks you can trade 0.01microlot in EUR/GBP, NZD/USD, CHF/JPY & AUD/CAD if you want to live with under 15% drawdown yes I mean "live" with it...you will always have DD with this system, while banking profits.
This is a good system (especially if you get trading rebates from your dealer, IBFX has a rebate program) believe it or not...BUT and BUT you must be patient and expose correctly. Try to choose pair that do not overlap and move together or exactly opposite from one another.
ES
P.S. I am using the default settings in v9.1. The only changes that I am suggesting are to allow for microlot trading. That means that I edited the inputs for Lot: 0.01, & SmallestLotSize : 2. I am requesting that these be adopted into the defaults settings and if the user uses another dealer then the EA should be smart enough to revert to mini or standard...
Late Edit: 2k is needed for 0.01 microlot trading on the four pair I am illustrating. This DD on this system is a Wild Child.This EA is great for GPB/USD but it blows accounts for USD/CAN and AUS/USD. Which is what I trade. This EA I think has some potential unfortionatly its creator has retired (Don_Forex). I noticed how NEO has implemented a stoploss. I was wondering if he could do the same for version 9.1. Just a stop loss feature. So we can limit our losses. In 3 days in both CAN and AUD pairs above, a few 4 thousand dollar losses during sept 20th 2007, blew the accounts. I believe if we could have incorporated a stop loss this would not have happened.
Somebody please program a stoploss into this EA.
Sorry...
Stoplosses are not the solution. This EA runs drawdowns so frequently, you would be hitting stoplosses very frequently. I have about 100 different modifications I made to this EA. I have not found a consistently profitable combination yet. I have the trade outlier problem fixed (where outliers are always closed when closing a group of profitable trades), but now, if you have to many outliers, your account still busts.
The problem is, if the trend is up, when do you stop opening long positions? That is the real issue. Especially if you have an uptrend, then the trend quickly turns down. If the market does not churn enough to get rid of those long outliers, you will bust your account.
Carl
I concur....
Stoplosses are not the solution. This EA runs drawdowns so frequently, you would be hitting stoplosses very frequently. I have about 100 different modifications I made to this EA. I have not found a consistently profitable combination yet. I have the trade outlier problem fixed (where outliers are always closed when closing a group of profitable trades), but now, if you have to many outliers, your account still busts.
The problem is, if the trend is up, when do you stop opening long positions? That is the real issue. Especially if you have an uptrend, then the trend quickly turns down. If the market does not churn enough to get rid of those long outliers, you will bust your account.
CarlStoplosses are not the solution. This EA runs drawdowns so frequently, you would be hitting stoplosses very frequently. I have about 100 different modifications I made to this EA. I have not found a consistently profitable combination yet. I have the trade outlier problem fixed (where outliers are always closed when closing a group of profitable trades), but now, if you have to many outliers, your account still busts.
The problem is, if the trend is up, when do you stop opening long positions? That is the real issue. Especially if you have an uptrend, then the trend quickly turns down. If the market does not churn enough to get rid of those long outliers, you will bust your account.
CarlPlease post back when you have the problem fixed. Good luck man, I like this system.
I also made my own version of Pipmaker but it runs into the very same problems unsurprisingly, and I really do not think there is a work-around for this problem short of managing to predict the future!
Perky's idea of martingaling your way out of the d/d is pretty original but unfortunately accounts still blowup fairly regularily. When I get the chance I will see how other lot-sizing strategies fare...