Micronotch_v2 EA - page 8
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Thank you all...
Its good to see how EA's cope with sudden changes in the market. A good example of adverse conditions was during a large spike down in the USD/JPY yesterday. Backtesting on this pair Micronotch v 3 and 4 would have just given back their weeks profit in terms of equity.(on 1hr chart more on 1 min chart). V5 would have surrendered half the equity on the account with the doubling up of orders. Fiasco. Given the situation on the USD/JPY what would you do on Monday?? Leave the EA to recover or use the close order function??
First of all, thanks for all the enlargement PM I received regarding this EA. Some people requested equity protection switch, buy & sell choice of direction, and to add trend indicators to the EA. I am still testing some of your suggestions but I think there is a need to bring back the extern var. to change pipstep and takeprofit var. as high priority right now which will be posted before Monday as v6D on post # 1 and maybe I can add the equity protection switch to stop taking new orders if equity is down a user defined amount if I find it to be of significant value.
To answer fatoftheland question, I would leave the EA to recover but I might manually close some of the biggest losers if my margin is getting very low.
Actually the EA does not double the lot size it just increases it by +1 if you turn the function on.
I have been testing v5 on a real account of $250 for three days Wednesday, Thursday & closed all possessions on Friday morning with profits with account balance $273.63 that is $23.63 in profit (+9.5%) trading 0.01 which is ok to my standards and not necessary ok to other people’s standard. Any way, am working on increasing this percentage without altering the safety logic of this EA.
If anyone wants to try the EA on real account just PM your account number and I will compile the EA with the account number and email it to you.
Take Profit Option
Hi Fiasco,
Whilst you are working on version 6 do you think its possible to have the take profit as an external?
Thanks for all your work, and for sharing.
V6
Version 6 is posted up on post # 1 and yes it has the option to change Take Profit defaulted to 1 but the result was amazing when I tested it on 50. There is Margin protection Limit where you can set to stop taking new orders when margin drops below that. You can also experiment with Pip step (Spacing).
I will remove old versions from post #1 as the new version has all the features of the old versions.
Good luck next week, and keep us posted.
Other expiration date, if you interested else.
Excuse me, I deleted old versions too, fiasco.
gling57
Version 6 is posted up on post # 1 and yes it has the option to change Take Profit defaulted to 1 but the result was amazing when I tested it on 50. There is Margin protection Limit where you can set to stop taking new orders when margin drops below that. You can also experiment with Pip step (Spacing).
I will remove old versions from post #1 as the new version has all the features of the old versions.
Good luck next week, and keep us posted.Can't forward trade with it live so there is no way to actually test it. Backtesting is useless, demo or live, and forward testing on a demo account is nearly useless. I've tried commercial and free EAs that do well on demo or backtest and perform horribly on forward testing on a live account.
been trying v6 on a $250 IBFX mini live this morning, the TP levels seem to be about 500 pips long despite a setting of profit target = 1. Mystifying!
Hello Everyone,
This type of trading is applicable only in demo accounts.
This is not allowed on live accounts. It is strictly prohabited
Broker might block your account... Send the statement any broker and ask if this its true or not.
Slami
Answers
nittany1: Apparently you did not read the last line in post # 73
ADX_MACD: I am using it on a real IBFX account with no problem !
Cgldsmth: Ignore the TB and SL you see in the terminal window, Profit Target is what the EA calculates. It adds all orders in profit and if Profit Target is met it closes the orders.
thanks, so you found profit target of 50 pips good for EURUSD?