PipMaker v1 - Price action based EA - page 122
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Is same crap everywhere... I pay ~ 1GPB/1 liter (~2USD) but it look like you have more trips to do than me
I use bicycle as often as I can, if I don't have to carry heavy stuff, believe me or not, is faster than by car.
First a big thanks to Don Forex who started this thread and all others who contributed. There has been done a lot of work and this EA has indeed a lot of potential.
It took me a week to go through this thead and I recommend that everybody else does the same. It helps your understanding on this EA.
I'm forward testing this on Alpari UK (24/5) with low spread pairs (except EURUSD) including USDJPY and GBPJPY. I started with 5000 Demo and it got up (mainly) thanks to the yen-pairs to 9000 in no time (default settings). My concern was the large negative PL which easily went between 2000 and 3000 USD, which I didn't think possible when trading microlots (0,01). Anyway changing the number of open orders (from 10 to 15) solved this and the trades still came in profitable in the end. Until last week when the PL went to -7000 (again because of the 2 yen-pairs) and I was near blowing the account.
I remember Enforcer (my sincere thanks to you for the great work you did so far) mentioned that "eventually" this EA will blow your account, but because of the success rate I did not take it too serious. Now I do !! Did anybody experience a same kind of hick up with these yen-pairs ? Or is it just a simple setting ? Does anybody recommend not to use this EA on the yen's or any other "danger" pairs ?
In post 1059 Scrabledem promissed to make an improvement about Account Security. Could you please inform when you will do this ? I think that now is a good time
. If somebody has any ideas how to help Scrabledem in defining how this should work then I think it will help us all big time.
Another doubt I have regarding this EA, is the money management. As I have attached this EA to various charts in the same Metatrader platform they all seem to look at the balance. Shouldn't this MM be based on the free margin ? During the above mentioned -7000 rally the free margin was minus and it still opened another order with increasing lot size.
Hope to tickle some respons from the forum and happy trading to you all.
Try to use on calmer pairs, JPY pairs are too dangerous. Also try to avoid days with important news.
Also you need to find proper settings for each pair you want to use, not default ones, like I said a million times.
If I use money management based on free margin then lot increase actually will decrease and this lead to lack of "power" so in the end will increase the risk.
Here another example of settings, very different from default.
The trick is to find lower DD for each pair, not higher profit, then use them together.
Synchronized comparison between ibfx demo and live
Hi Enforcer,
I am sorry I am such a slow tester. I am still on Pipmaker_v12.
From the synchronized comparison between ibfx demo and live performances below, can I draw the following conclusions?
1. We are ripped off big time in live trade. IBFX reps said the price feed to demo and live are identical, yet every trade carried a 4 pips or so difference.
2. The trades were not closing with a profit as planned, in both demo and live. Why so?
Thank you very much for advising.
Best,
forexjim
Emphasising the importance user-settings hides the inherent flaws in this system - it is curve-fitting, pure and simple! I have spent several hours with the latest version backtesting the majors, using a variety of settings, and in every instance, it resulted in a blown account, usually after about 3-4 months. I have no doubt that 'settings' could be found that would see it survive over a particular and reasonable (at least 1 year) period of time, but when these settings are used on a different period of time, you will almost certainly encounter a blow-up of your account. As I said, it's just curve-fitting.
btw, the only reason I post this is that practically every backtest snapshot that is being posted recently paints far too optimistic a picture - newbies see this, think 'manna-from-heaven', and have no hesitation on slapping it on a real account (usually a small one, which makes a blow-up almost a certainty)...
Hi Enforcer,
I am sorry I am such a slow tester. I am still on Pipmaker_v12.
From the synchronized comparison between ibfx demo and live performances below, can I draw the following conclusions?
1. We are ripped off big time in live trade. IBFX reps said the price feed to demo and live are identical, yet every trade carried a 4 pips or so difference.
2. The trades were not closing with a profit as planned, in both demo and live. Why so?
Thank you very much for advising.
Best,
forexjimI post about demo and live differences, price feed is never same, no matter broker. In live price feed is smoothed/ filtered, also in live order is accepted slower than in demo so there is a difference of few pips.
Also I noticed in live are placed less trades than in demo, due to smoothed price feed in live.
Orders are not closed sometimes if price moves more than allowed slippage (need requote).
Emphasising the importance user-settings hides the inherent flaws in this system - it is curve-fitting, pure and simple! I have spent several hours with the latest version backtesting the majors, using a variety of settings, and in every instance, it resulted in a blown account, usually after about 3-4 months. I have no doubt that 'settings' could be found that would see it survive over a particular and reasonable (at least 1 year) period of time, but when these settings are used on a different period of time, you will almost certainly encounter a blow-up of your account. As I said, it's just curve-fitting. btw, the only reason I post this is that practically every backtest snapshot that is being posted recently paints far too optimistic a picture - newbies see this, think 'manna-from-heaven', and have no hesitation on slapping it on a real account (usually a small one, which makes a blow-up almost a certainty)...
Market conditions are constantly changing so is normal to not work for other period - that's why is recommended to periodically adjust settings.
Backtest snapshots I posted are for at least 5 months, not 3.
Most problems are caused by orders placed during news so better avoid trade when important news occurs.
Is not my fault newbies don't bother to read and just dump in a live account any EA look interesting without to forward test it few months or at least optimize it.
I post about demo and live differences, price feed is never same, no matter broker. In live price feed is smoothed/ filtered, also in live order is accepted slower than in demo so there is a difference of few pips.
Also I noticed in live are placed less trades than in demo, due to smoothed price feed in live.
Orders are not closed sometimes if price moves more than allowed slippage (need requote).Got you. Many thanks.
forexjim
Hi Enforcer,
Can u please explain how we can increase/decrease the profit amount? As I'm not getting the exact settings in the EA
Thanks in advance