Bliksem (Counter Trend EA) - page 12
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margin call
still risky , hurt my account a lot
I think you better stay with EURUSD. The profit might be slower, but its much safer to run with multi lot system. USDJPY is always a killer of all type of martingale/cost averaging system.
Regards
David
market
I think its the timing of the market and not the ea. ---- The Euro/$ has to chop around until after nfp and then start its ascent and start trending then the ea can be run.. Right now, its probably better to sit it out. But thats' up to you. I am looking for it to start a nice trend now that the retracment is over but probably should give it a day. The yen has just gone through a 3 week expansion so I imagine its likely 1 more up day and then off to the races!
Folks, thank you very much for all the help so far, but there are very obviously people that have not read this thread, and some that have, I am not going to mention names for fear of upsetting anyone.
BUT!
I said it once before earlier on in the thread and I'll say it for the last time now;
1) This EA is no where near complete!
2) This EA should NOT be traded live!
3) There is NO money management yet!
4) There is NO trading maintenance yet!
5) There is NO exit strategy yet!
Folks please, this is not what I came here for or why I posted this EA.
This EA has only just begun it's life, the entry strategy is good, now we need to start working on the maintenance of open trades and the exit strategy to keep the pips that it gains. I do not know how many times I have to say, the exit does not work yet! The exit strategy that has been put in place is there purely so that we can test the EA, otherwise it would never exit and testing would be pointless.
Respectfully I ask Gling57 to rename his version of the EA to something else and start a new thread for it.
I DO NOT want to be known as the author of a failed EA because someone else changed it.
By the same token, if Gling57's EA turns out to be a good one, then he should get the credit for the changes he has made, not me.
Good bye and good luck.
Wayne
Respectfully I ask Gling57 to rename his version of the EA to something else and start a new thread for it.
I DO NOT want to be known as the author of a failed EA because someone else changed it.
By the same token, if Gling57's EA turns out to be a good one, then he should get the credit for the changes he has made, not me.
Good bye and good luck.
WayneHi, KaMpeR! Thank you for your suggestion, but I think it would be better if I simply remove all my modification of YOUR EA from this thread. By the way, I made these modification AFTER YOUR PERMISSION in private message. Regards.
Hi Gling
You misunderstand, I have no problems with your modifications, nor am I upset by them in anyway whatsoever.
The suggestion is that it is becoming a different EA to what I had originally intended and yes of course you are welcome to change it how you like.
I just DO NOT want two EA's in the same thread with the same name that are doing two different things?
I still think it would be better for you to rename your version, I cannot take credit for it other than for giving you the original idea and mq4 file. Credit for this EA as it stands would need to be shared between Barry Stander and myself as he did the coding, I just gave him the concept and did the bug testing on the entry system.
Do not be cross, I am not and as I said, if your EA turns out to be a good one, then why should I get the credit.
Relax my friend, there is far to much agro in this world for you and I to become enemies over a stupid misunderstanding.
Cheers
Wayne
How it works.
Very basically the EA functions like this;
The EA opens trades against the trend, doubling the number of lots with every trade that it opens up to 9 trades.
So if you where trading 0.01 lot for your first entry, every 8 pips you would add another trade, double the size of the last one.
1st trade = 0.01
2nd trade = 0.02
3rd trade = 0.04
4th trade = 0.08
5th trade = 0.16
6th trade = 0.32
7th trade = 0.64
8th trade = 1.28
9th trade = 2.56
The logic here being that nothing goes in reverse for ever and when it does turn, you have enough lots in the last 2 or 3 trades to cover the entire "basket" of losses and make a profit.
(This is obviously not always true, so be aware that this can cost you money)
I have, unlike other counter trend EA's, I think I have resolved the major draw down issue by not being as greedy and by being prepared to wait for my money and only trade positions with what I think is a +75% probability of success. Obviously then it also does not accumulate money as quickly either, but it has no where near the risk.
I originally designed this strategy for the H1 chart on the pair EUR/USD because of the obvious volatility of this pair. I later found that it also performed well on the following pairs, GBP/USD, GBP/JPY, EUR/JPY and CHF/JPY, so it would seem that anything JPY or GBP orientated is also OK. I continue to test on EUR/USD only however.
I ran it live on IBFX on a mini account last week, first lot 0.01, it did nicely, $499.00 has grown to $816.00 in that week, but I do not have the confidence yet to leave it to run unattended.
This EA requires 4 charts with different time frames to function correctly, here is an explanation of the strategy.
I use a 3 EMA system for my calculation of trend on the M5, M30 and H4 charts.
On the H1 chart I use an Indicator called Spyker.
H1
In the Inputs tab, Change the Jimmy value to 1 and the Signal value to 377.
Leave the colours at the default settings.
When the White line is below the Yellow line, H1 signal is assumed to be Short.
When the White line is above the Yellow line, H1 signal is assumed to be Long.
M5, M30 and H4 set-up
1st EMA = Period 55, Shift = 0, MA Method = Exponential, Apply to High, Style = Green.
2nd EMA = Period 55, Shift = 0, MA Method = Exponential, Apply to Low, Style = Green.
3rd EMA = Period 13, Shift = 0, MA Method = Exponential, Apply to , Style = Red.
Assume the trend is Long when the Red line is above both the Green lines on all charts.
Assume the trend is Short when the Red line is below both the Green lines on all charts.
If the Red line is between the Green lines on any of the Charts M5, M30 or H4, do not trade!
Feel free to adjust these numbers to whatever makes you happy.
The EA will enter a long trade when the M5, M30 and H4 are showing Long, but the H1 is showing Short.
To explain in a little detail.
When the M5, M30 and H4 have the Red line above both the Green lines, assumption is that the trend is Long. I then watch for the H1 charts Spyker White line to pass down through the Yellow line.
When this happens I then start to Enter Long trades immediately, I do not wait for the candle to complete.
I generally then compound my long trades in increments of 6 pips. So for every 6 pips the trade drops lower, I open another long trade, double the value of the previous one.
I use this on a Mini account so my first trade has a value of 0.01 and I do not open more than 9 trades in any one "basket" of trades.
The opposite is true for short trades.
I hope that that helps you understand a little bit better what the EA is trying to accomplish and that we can get something of value going here?
The attached files are the latest as at the time of posting this thread.
No problem.
do you trade in weekend ? and when NFP? HOLIDAY?
For Live account, I closed all trades the night before the big news. For demo account, I leave it open and add few more currency pairs so I can watch how it react to the news in different pairs. When the news starts to move the price, it is the best moment to measure an EA how intelligent it can be.
start from 10000$
5 pairs
take 400$ profit manually this moring from EUR/USD ( reach 9Th TRADE , a little risky)Well, if you compare to other EA, such as V1+V2, Blessing and 10point3 EAs that use Martingale method, Bliksem is much saver. It identifies trend and places entry when the trend retraces. Based on the default setting trading on a mini account, $255 will be your max loss. You can close all your opening trades and turn the EA off before the big news. That way you secure your profit.