PipMaker v1 - Price action based EA - page 125
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An EA must be every time work. Ive found a better one. Pipmaker is too complicated for me.
I hate to be a naysayer, but no EA works every time. To be successful, it must make more profit than losses over time. It must do so enough so that you can trust it and don't have any problem sleeping at night while it's trading your money.
Nevertheless, if you found a better EA, I can accept that and would be interested in knowing if it is available to the rest of us.
I said this million times, but nobody wanna listen...
I said to avoid trade during big news, optimize for lowest DD and so on, but no use.
I wonder why bother to say or do more...
It should work every time in all conditions...maybe, in a perfect world.
Everybody wanna "holy grail" for free.
Hi,enforcer.
I know that pipmaker have the funtion to work for both way,and i do try to find a way to tell when to trade on trend and when to trade on countertrend.But best way usually is not practicality way.A good follow-trend system maybe more complicated than pipmaker itsself.
I think the best way is do it manual.Study the market hard,and fine when it change,then change parameter.You are right."holy grail" would never for free.
As you said,there no EA work every time in all conditions.So that's why i perfet to use pipmaker as a countertrend Ea.When pipmaker open too many orders,decrease the profit target.
Thanks.
I hate to be a naysayer, but no EA works every time. Nevertheless, if you found a better EA, I can accept that and would be interested in knowing if it is available to the rest of us.
Yes, there is:
Forex Robot Trader
Yes, there is: Forex Robot Trader
Are you sure this is ok?
Just a quick look on performance reports:
BACKTEST (modeling quality n/a)
AUDUSD
Deposit 10000
Profit 3563 /7 years (35.%) =509$ / year (5%)
DD:17%
USDJPY
Deposit 10000
Profit 2631/7 years (26%) = 376$/year (3.7%)
DD: 20%
GBPJPY
Deposit 10000
Profit 10818 / 7 years (101%) = 1545/ year (14.4%)
DD 30.5%
GBPUSD
Deposit 10000
Profit 4449 /7 years (45 %) = 635 / year (6.42%)
DD 26%
Stats using above pairs in a 10k account
Total profit 207% (29.5% / year or 2.46% / month)
Max possible DD ~ 93%
Average DD ~ 23.25 %
Now, look at so called forward test reports.
Every month starts with a new deposit. Why? Maybe need to open a new one each month due to crashes or big DD?
Forward testing should be carried over many months on same account, not test each month on a new account.
Look at May 2008 report: Floating PL is almost half of profit made.
Reports show 0% drawdown and that's impossible.
Also I can't find any live trading statements.
Sounds fishy to me.
Don't expect too much - the guy need to sell his stuff
Just read Features page - some standard options like scheduler, trade/no trade Friday, stop loss, break even, etc., he describe standard operations as "features" and crap like "superb labels" - lol, most important is how EA enter trades, not to look like X-mas tree
)
I don't know the guy, I have nothing to sell myself, but I hate commercials like "The best", "Most advanced", "Worlds most sophisticated" and so on, bogus testimonials, a lot of words telling nothing, a shiny box and very little or no solid proofs.
Is not strict countertrend EA, can work both modes.
Best thing is to find a way to tell when to trade on trend and when to trade on countertrend. This is main issue now, take profit level is second one, but only problem is we can't get maximum possible profit, while trend-countertrend modes will solve problem of loses or even account crashes.
So, anyone have any idea how to tell when to switch trend - coutertrend modes?Hi,enforcer.
Here is my suggestion for pipmaker to switch trend - coutertrend modes.
We can't use trend indicator like move average.For if price goes up to the top of price range,the trend indicator sure will indicate up.price goes down,the trend indicator shows down trend.But pipmaker is designed to sell at top and buy at botton.Trend indicator would not work with pipmaker.
so my suggestion is to use the range break up system.first, define the curren range,the top and the botton.when price is in the range,countertrend=true;if price break up the range,countertrend=false.
This is my base idea.I will test it in real demo trade.
The next qeustion is use what kind of method to define the range.
Hi Enforcer,
he wrote me:
In your backtesting results - every month starts with a new deposit. Why? Maybe need to open a new one each month due to crashes or big DD?
Because demo accounts expire in 30 days is the reason I opened a new demo account. If your statement was true that I had crashes you wouldn't be able to see on the broker statement a full 30 days of trading. Let's say you're right and I'm wrong and my account crashed midway through a month. I would be forced to open a new demo account which was opened trades starting the middle of the month to the end of the month. You would then ask yourself what happened the first two weeks?
It should be obvious that that is not happening as proof of a full 30 days worth of trading reported to you. The robots do not crash and I did not experience drawdown greater than 12 to 18% since December 1, 2007
Forward testing should be carried over many months on same account, not test each month on a new account.
Please look at May 2008 report: Floating PL is almost half of profit made. Reports show 0% drawdown and that's impossible.
I beg to differ. There is no should in this business. There are a thousand different ways of trading the market. I personally trade 30 days worth of trading and close out my losses at the end of the month. It doesn't take a rocket scientist to see that my positive trades every 30 days are greater than my negative trades. What is there to understand. Ask yourself this question when looking at my statements every 30 days. Did the robot make money or lose money in 30 days worth of time. If you cannot answer that question you should not be trading.
What you think? I think 199,- is not to much to risk!
I do not try to convince you to buy or not - just not sound right to me.
Account expire in 30 days - most lousy excuse I heard - there are a lot of brokers the have non-expiring demo accounts.
30 days statements are not reliable - each month end with some drawdown and next one start clean. Is there any guarantee that drawdown will not increase in live trading? Never know as is wiped out at beginning of a new month.
Lol, I can make better monthly statements for a lot of EAs in this way.
According to his backtests results, using all pairs you can have a DD up to 93%!
Profit made is anyway modest and is well known in backtest profit is 10-20% higher than in live trading.
Sounds good to you?
Where are live trading statements? His live account expire monthly too?
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No demo login to his live or at least demo account also.
Why no demo EA available? Even one with time limit.
Why no money-back-guarantee? At least for 30 days..
And so on...