Frank EA and 10p3 EAs - page 7
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I was trying to think about how to implement timefilter with this EA.
Because what is timefilter?
Ea will not open new orders and will continue to mnage the old ones within trading time.
Let' say since 8 pm till 4 am.
But it is difficult because normal EAs are closing the orders on stop loss. But this EA is martingaling when stop loss: orders are not closing - just the other order will be opened with more higher lot size.
For example, EA opened buy by 0.01 lot size. Later EA will open sell by 0.01 lot size. So, it is buy/sell anyway. And cycle is started: if the price is going to opposite direction with one order so the order order will be opned with increased lot size (instead of stop loss) and so on. Once one order will be closed in profit (order with iggest lot size) so all the orders on this cycle will be closed.
And we will have the same: buy and/or sell order by 0.01 lot size. New cycle are ready to start.
Thus, I think it may be good to implement this timeilter not to the time to open the order. It is good to code timefilter to time to start/finish this cycle.
Let's say, we start trading at 8 pm y cycles. And when 4 am so EA is waiting untill the cycle will be finished and closing the rest buy and/or sell 0.01 orders. And waiting for 8pm once again.
It may be the idea how to improve it.
It is difficult for me to code timefilter to cycle (it is complicated i think) so may be somne will help.
Yes but what for we need time filter in this ea? Well I think the point here is to lower drawdown right? So we shouldn't start cycles like usual ea's - where we have high viloate market, but when we don't have violate market, eg between 16 and 8 not 8 and 16. Right? Also avoid news time.
Right. Because if EA will work at night (for EURUSD for example) so most likely it will be flat and EA will slow down and it can be 1 or 2 cycles per night only.
Because if markt is very volutile (day time) so this EA can continue one cycle with 3 or 6 lot size and so on (starting with 0.01). But if flat market so the cycle can be finished by 0.1 or 0.3 lot size.
Exactly, Exactly. So the point is to find flat periods of specified currency, so there will not be a risk of opening more than eg 6 trades but usualy you will be expecting 4 (but prepared for 6 or 8). Then choose the right amount of cash, and way we go! MILIONARES!
...Then choose the right amount of cash, and way we go! MILIONARES!
Not really. If this EA will trade with timefilter at GMT night so ths EA will not be so profitable as expected and it will not be so attractive. It will become to normal EA with profit increasing slowly.
Just as example, look at 10point EA (public one).
EA, settings, testing 11 pairs.
I am forward testing it with timefilter (already coded inside) and profit is increasing slowly. But I am trading 11 pairs. No one will trade 11 pairs with real account with martingale EA. One or 2 pairs maximum. But if one pair - so it may be 10% or 20% profit maximum in one year (mostly 10%).
It was 10point EA on 2 images above.
If timefilter will be coded for Frank EA so this Ea will become normal EA (normal concerning the risk).
Thanks a lot.
I will test it from next week.
If this EA will trade with timefilter at GMT night so ths EA will not be so profitable as expected and it will not be so attractive. It will become to normal EA with profit increasing slowly.
Well not exactly. You are right, assumig that we will trade 0.01 lot like now. But if we will assume that ea in night is making no more than 4 trades or 5, and if ea will want to make 6th trade we close (with high loos). Then we could trade it with eg 0.5 lot instead of 0.01. The key is the number of trades. If we assume that the ea is making no more than 4 trades, then loose after 4 trades is not 40% DD, also the point that is important - such situation can't happen very often. If they will be happening once per eg quoter, then it's ok I think.
We can trade it not every day (not every night) so it will depends on the market. And if someone will use it so it may be good to manage or watch the trades when trading time will be finished in timefilter. Anyway, just a possibility.
Please find updated statements for Frank.
------------
Frank modified version.
I decided to test version modified by Kalenzo.
I am installing Metatrader now.
I think it will be Alpari UK broker and the pairs:
EURUSD, GBPUSD, EURCHF and CHFJPY. Could not find good settings for the other pairs sorry.
EAs (with default settings on every 4 pairs) will be posted now (next post).
It is the EAs (default settings for the pairs, H1 timeframe, starting with 0.01 lot size.