BlackBird ea - page 9
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The progressive hedge.... I would like to see what you mean.... thanks everyone, and Happy Holidays.
Well we first have to get on the same page and understand how this EA works and what the most favorable conditions are for it to trade with the least drawdown.
Actually it makes more money when it gets into the larger trades sizes as it closes the trades >= to the ProfitTarget. Each tick gives it an increment higher that the ProfitTarget. Most of use an extremely small ProfitTarget because we are chickens! I use just 1 Buck per 2K...and am testing just 70 cents per 5K! On 5K...if you make 14 bucks per day that is 280 bucks a month or 5% per month. It is not hard for this EA to make 5% per month, especially when reaching larger trade size progressions as those large ones jump around dramatically.
To continue ...
What does the EA do? Well this is a function of a breakout of the spread you set in the inputs. The EA will enter the first leg of the spread immediatley with a Long or a Short according to the input of the trade direction in the EA. It will then wait and let the instrument trade until one of two things happen.
1) It will wait until the trade goes against its "first leg" by the amount of the spread and complete the "2nd. leg" of the spread...
2) It will take profit with just the "first leg" according to the ProfitTarget.
If it puts on the "2nd. leg" it will use the GrowthFactor to calculate trade size which is a default of 2 currently and I have not seen any tests yet with 3...4...5....So anyway for our purposes in this tutorial...it is doubling each time. The EA does not Grid...if both legs are executed there are just two horizontal lines on your chart indicating those entries. Again...this is different from the other EA's like this...THERE IS NOT ANY GRIDDING.
Now...
You have these two lines and the first one is long and the second one is short at double the trade size. You are net short.
So to recap...
The EA was turned on and it immediatly entered long (or short, but lets use the long input) and then the price went down and the spread was hit and the short hit at double tradesize. Now what conditions do you need? You need the price to continue on its downward trend. BUT...it turned and does not hit your ProfitTarget and the price goes back up...the EA alternates between long and short in what it is waiting for and currently it is looking for a long trade only.
So to continue...
the price goes up...all the way to the first leg and enters again double its last tradesize execution. So now it is "net long" regardless of the two past executions...if it doubles each time it will "net out" that direction of the leg it just breached.
Are there any questions?
ES
The progressive hedge.... I would like to see what you mean.... thanks everyone, and Happy Holidays.
Now for you folks that use indicators...that do not like to use this EA in an "always in" state..(turn autorestart to false).
What usually happens if the Stochastics is above 80?...or below 20? is there usually enough volatility in those zones to safely turn this EA on?...Test it and tell us ok?
Again we are looking for frequent trades and zones to use that will be safe enough to allow for the small breakout required from the artificial spread this EA puts on.
I have not tested indicators thus far. There are other ideas to test...but the point here is not to get everyone going off in different directions...the point is to "drive home" what we need for this EA to be profitable in a safer way.
ES
P.S. when cuda introduced this method he confused some of us with his "2-chart favorite method" of going long and short in the same pair to start off with....THERE IS NO GRIDDING AND THERE IS NOT A HEDGE WITH THIS EA. Each chart is trading independently from each other in an "alternating long short entry" in a defined "two-grid zone".
Now that we are on the same page...td and others have discussed some advanced techniques of controlling drawdown...most of you are lost in this discussion and I apologize.
1) I am suggesting and have not quite worked it out yet...but I am suggesting a relationship between two or more charts, whether they be the same or not...Just now they are independent from one another if you use two charts in the same platform.
2) I have also suggested a "stall' or a "delay"...which is an entirly other technique than the realtionship techniqe...I have not worked this out either.
but this EA has the possibility to "learn" and react to what the market tells it...
I am really good at looking at the big picture, but the devil is in the details, in which I would need help with.
anybody?
ES
P.S. I have contributed far too much to this thread and now it is your turn folks...the thread author does not even post here currently...did I do something wrong?
Well we first have to get on the same page and understand how this EA works and what the most favorable conditions are for it to trade with the least drawdown.
Actually it makes more money when it gets into the larger trades sizes as it closes the trades >= to the ProfitTarget. Each tick gives it an increment higher that the ProfitTarget. Most of use an extremely small ProfitTarget because we are chickens! I use just 1 Buck per 2K...and am testing just 70 cents per 5K! On 5K...if you make 14 bucks per day that is 280 bucks a month or 5% per month. It is not hard for this EA to make 5% per month, especially when reaching larger trade size progressions as those large ones jump around dramatically.
To continue ...
What does the EA do? Well this is a function of a breakout of the spread you set in the inputs. The EA will enter the first leg of the spread immediatley with a Long or a Short according to the input of the trade direction in the EA. It will then wait and let the instrument trade until one of two things happen.
1) It will wait until the trade goes against its "first leg" by the amount of the spread and complete the "2nd. leg" of the spread...
2) It will take profit with just the "first leg" according to the ProfitTarget.
If it puts on the "2nd. leg" it will use the GrowthFactor to calculate trade size which is a default of 2 currently and I have not seen any tests yet with 3...4...5....So anyway for our purposes in this tutorial...it is doubling each time. The EA does not Grid...if both legs are executed there are just two horizontal lines on your chart indicating those entries. Again...this is different from the other EA's like this...THERE IS NOT ANY GRIDDING.
Now...
You have these two lines and the first one is long and the second one is short at double the trade size. You are net short.
So to recap...
The EA was turned on and it immediatly entered long (or short, but lets use the long input) and then the price went down and the spread was hit and the short hit at double tradesize. Now what conditions do you need? You need the price to continue on its downward trend. BUT...it turned and does not hit your ProfitTarget and the price goes back up...the EA alternates between long and short in what it is waiting for and currently it is looking for a long trade only.
So to continue...
the price goes up...all the way to the first leg and enters again double its last tradesize execution. So now it is "net long" regardless of the two past executions...if it doubles each time it will "net out" that direction of the leg it just breached.
Are there any questions?
ESHi ES,
Do you see how this strategy is different from this one ? https://www.mql5.com/en/forum/175329
please correct me if i'm wrong, but is this EA smiliar to the Bless 5th Element EA, or the V1 V2 EA's? Basically buying and selling at the same time and then using a martingale progression through levels to get yourself out of the original trade?
This is evaluating the bracket of SL and TP....and reacts to the price movement within the bracket. The bracket so-to-speak is an artificial spread. This brackets create the parameters and this EA does not use the float to trigger its global exit...but each individual trade has its SL and TP managed.
I do not see much difference here other than presentation...this however is an opposite...as it looks at a range where Blackbird looks at a breakout... but really its semantics....as the same amount of pips is needed for the exit.
Thanks for the link...are you trading this? How are you doing...or do you have any conclusions to share?
Do you know where the criss73 thread is for my review?
One unique ingredient is the altered progression ...It may extend the maxtrade time...the Blackbird EA does not have decimals or a patterned progression scheme to activate...
ES
Hi ES, Do you see how this strategy is different from this one ? https://www.mql5.com/en/forum/175329
I do not know...I am not familiar with the 5th element...:)
Perhaps someone reading this thread can share...
ES
please correct me if i'm wrong, but is this EA smiliar to the Bless 5th Element EA, or the V1 V2 EA's? Basically buying and selling at the same time and then using a martingale progression through levels to get yourself out of the original trade?
I do not know...I am not familiar with the 5th element...:)
Perhaps someone reading this thread can share...
ESI've been reading the thread and the first clue I got was the martingale progression via levels. And since this EA doesn't trade based on any rules for the entry it seems to be very very similar to the Bless 5th Element or the V1V2 EA's that were very popular around the forum about half a year ago. Unfortunately a lot of people blew up their accounts using this EA back in June/July when the market hiccuped..
hiccups are good!!!!
I talk to you kids with tears in my eyes...
I've been reading the thread and the first clue I got was the martingale progression via levels. And since this EA doesn't trade based on any rules for the entry it seems to be very very similar to the Bless 5th Element or the V1V2 EA's that were very popular around the forum about half a year ago. Unfortunately a lot of people blew up their accounts using this EA back in June/July when the market hiccuped..