I agree with the previous trader that said he gets out of bad trades as soon as possible. I have read and heard professional traders, including Dean, say to not ride out a bad trade. We know that synergy can make plenty of pips so I think the focus might be to try and diagnose bad trades and get out asap.
One thing I have noticed is if a good trade occurs, the candle pattern is stair step and it usually does not stall. I am going to try the following: if I get into a trade on the hourly chart and if 1 or 2 hours pass(1 or 2 closed candles) after entry with no positive pips then the currency has probably stalled so I will either move to breaken or close the trade. Another possibility is to close a trade if the currecny retraces x% (100-150%) of the entry candle pips. So if the entry candle closed with a spread of 50 pips, the trade would exit if the price move backwards 50 or 75 pips -if it moves back that far it probably has lost momentum and will retrace.... just brainstorming, thx mike
Since what we are talking about is momentum, perhaps the best way to measure it is with the .... Momentum Indicator. E.g. trigger long when above 100, trigger low when below 100. Or use crossings of 100. Has anyone tried it?
I have not but sounds like a possibility..
For comparison I have charted a Momentum indicator with a 3 period Smoothed MA applied to it. One could make a case that it strongly confirms the RSI and other signals: the Momentum line should be above/below the MA and above/below 100 for long/short entries.
here is the chart with the indicators
Step Down Feature
I have been monitoring the progress of this work of art here and on the charts. I do not have consistent results to show you today, but am working on something which I can bring to the thread when ready. I am in search of a "step down feature" to add to my EA which will reduce the trade size with each loosing trade. So if you start with 5% in each trade, set max losses of 3 trades, after the first loss you are trading 4%, then 3%, etc. until you get to 0% or have reached you maximun preset consecutive losses in a row. This would allow me to run the EA for several days without worrying if it kept getting in consecutive loosing trades while I am away. Please help if you can, I think I am ready after this is added. Thanks!
Thanks for the input as always, but...
Unless you have a diff/better setting to use for PSAR, I find that it does not help much. On a run like the lovely long one just ending on H1 GBPJPY, the PSAR works, but so do a lot of other exits. But with the runs that are shorter and end in a sudden large change in direction, the PSAR doesn't seem to help any more than using the PAC...
As far as your (and Mikes) other posts about momentum, perhaps that could be analyzed a bit more; could be promising.
Is this for another Synergy EA that you have been developing? Or something unrelated? It doesn't sound too hard, but unfortunately, I have a bit much on my plate now to take on new things.
Good point Derk,
However, I think that PSAR should be used as one of at least 2 exit strategies, including one based on the oscillators (e.g. Stochastic and RSI fast reversing direction, but not yet crossing slow).
Welcome to Build 11 of Derk's Synergy EA.
I have added an input called
OppCandlesForReEntry = 3
This addresses my previous issue with keeping the EA from re-entering a trade in the same direction on the same run.
Additionally, I did a lot of forward testing, watching it on various settings, and it seemsto do as expected. I wish I could say I had tracked and found specific issues/bugs that will fix the various problems everyone has had, but I found little wrong with the code.
I have updated the debug logging that it does to the experts tab, which will hopefully help anyone interested in finding problems to diagnose what is going on. Certainly any of the capable programmers out there are welcome to analyze it to perhaps find any errors in the code; sometimes it just takes another set of eyes. If anyone finds anything suspicious, please post it back here.
There have also been a number of changes/updates to the OrderReliable library. I was finding a lot of errors had to do with modification order errors, so I concentrated on improvements to that library. Since this one seems to be working pretty well for me, I am hopeful others will find the same.
Also the instructions document has also been brought back to current.
As always, updated files are in post #65. You should be able to download the attached .zip file and unzip it to your platform's top folder, and everything should just fall in place. Please see the instruction manual for more installation info. And, if you haven't read the whole manual, I encourage you to do so if you really want to get any results from this EA. There are a lot of settings; fortunately, most folks will want to only enable a few at a time, but it's important you know what they all mean.
Best to you all,
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