Blessing 2 - page 37
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I was using the same settings on an Alpari demo account with the 2 pairs EU H4 and UJ D1, LAF 1, multiplier 1,4, InterbankFX mini, portion 2, 3000 $ (1500 per pair). MA-period was as suggested 100 for EU and 25 for UJ. In the 2 first weeks + 70% (in a big trend period), then huge drawdown in one day after the trend reversal. I'm a prudent investor and don't want a system to get rich in a short time, put to have a little but regular income with reduced drawdawns. I think Blessing is a fantastic EA, so I will restart with even less aggressive settings, reducing del LAF to 0.5 and trying to lower the MA-period. What do you think? Thank you for your kind reply and your comments
I think your problem is that Alpari uses only a micro account, not nano account. meaning each pips = 10 cents.
For $3000, running two pairs, 1 pip = 10 cents is too much of a risk.
I think your problem is that Alpari uses only a micro account, not nano account. meaning each pips = 10 cents. For $3000, running two pairs, 1 pip = 10 cents is too much of a risk.
Yup, 10-cent pips will increase neg float X10. Guaranteed to blow you
out. Same thing happens with people running FXDD mini accounts, thinking
they are the same as IBFX minis - they are not.
Rob
Good Results
I tested blessing 2 3[1][1]3 for 4 weeks on a 3k and 10k account. both doubled balance after 1 day. after 3 weeks 10k was at 72k. The something strange happend, all of a sudden it traded 65 lots and wiped me out. I was having problems with laptop, and was riddled with viruses.so took this as a one off. One stage when at 33k i had a 22k drawndown,m but it picked it up again and within 4 hours I was back up to 38k, just wish it had started some orders on the way back up.
My findings are, it trades for me 3 good weeks and I usually have a loosing week. But if I draw funds off weekly, taking a hit one week aint too bad. Also I find only set the EA up on a trend up or down, if you set up in a choppy market it does not always recover from a loss. It does not deal well with a big move in the market eg 150-300 pips over short period, nice if it did and opened trades at that time. testing latest version now, soon to go live......wish me luck
I tested blessing 2 3[1][1]3 for 4 weeks on a 3k and 10k account. both doubled balance after 1 day. after 3 weeks 10k was at 72k. The something strange happend, all of a sudden it traded 65 lots and wiped me out. I was having problems with laptop, and was riddled with viruses.so took this as a one off. One stage when at 33k i had a 22k drawndown,m but it picked it up again and within 4 hours I was back up to 38k, just wish it had started some orders on the way back up.
65 lots? You need to throttle-down your initial lots to something more
reasonable. I would not go more than .01 lots on $1K, one pair, or
.02 lots on $2K, one pair. You want to keep neg float to the smallest
level possible, while still making small profits each day.
Rob
I tested blessing 2 3[1][1]3 for 4 weeks on a 3k and 10k account. both doubled balance after 1 day. after 3 weeks 10k was at 72k. The something strange happend, all of a sudden it traded 65 lots and wiped me out. I was having problems with laptop, and was riddled with viruses.so took this as a one off. One stage when at 33k i had a 22k drawndown,m but it picked it up again and within 4 hours I was back up to 38k, just wish it had started some orders on the way back up. My findings are, it trades for me 3 good weeks and I usually have a loosing week. But if I draw funds off weekly, taking a hit one week aint too bad. Also I find only set the EA up on a trend up or down, if you set up in a choppy market it does not always recover from a loss. It does not deal well with a big move in the market eg 150-300 pips over short period, nice if it did and opened trades at that time. testing latest version now, soon to go live......wish me luck
Well. I was going to say something else here, but I really owe you a Thank You for providing some liquidity to to market and profits to the broker(s) to keep them in business. If you were a chick I'd
did back-test
Hi,
I did a back-test for about 2 months of data, EURUSD, 4HR, it climbed to +45% then took two separate nose dives to wipe-out the $10K back demo test. Please someone tell me what I did wrong. Or is this its fate?
jerry
grid strategy
first of all thanks a lot fifthelement and iron for developing the ea.
the ea is great but at some point while backtesting it seems that as the number of open positions increase the profit target widens which is sometimes hard to reach and a sudden drawdown is seen......
therefore i would like to propose a new method......
lets say there are no grid settings......instead lets have stoploss and profit pips.....the idea is tht a total profit of x pip is to be achieved(here x is entered as profit pips) per open position.
i dont wanna b optimistic therefore i m going to consider an example with atleast 5 wrong positions......
lets assume the price of the currency is at 200 (i m not considering spread).
lets say considering the MA period and determining the trend the ea goes for a buy position. here i m considering the profit pips to be 2pips and stoploss as 30pips and multiplier as 2....all the 5 positions will hit stoploss and get closed.......the profit target calculation s the main thing.....lets say u incurr a loss of 30 pips at 1lot therefore ur loss is -$300..as soon as stoploss is hit a new order takes place that is the hedge order which will have the same stoploss but a profit target of {(1/20)*$300}+2 that is 17pips at 2 lots....the profit target is calculated by finding out the breakeven pips and adding the desired profit pips.....therefore since i have a loss of $300 so at 2 lots break even would b 15 pips and hence profit target will be 17 pips......i hope everybody got it.........
Example
Lots Price Position Stoploss Profit pips ProfitTarget Profit Total
0.01 200 BUY 30 2 102 -$3 -$3
0.02 170 BUY 30 2 187 -$6 -$9
0.04 140 BUY 30 2 164.5 -$12 -$21
0.08 110 BUY 30 2 140.125 -$24 -$45
0.16 90 BUY 30 2 116.25 -$48 -$93
Now the winning trade which actually hits the profit target
0.32 60 BUY 30 2 91.06 +$99.4 +$6.4
as u can see in the above example the profit target increases slowly rangine from 17++ pips.......
i think the strategy is good and going to work.......but the developers need to code it keeping in mind the spread thing.........
Hi,
I did a back-test for about 2 months of data, EURUSD, 4HR, it climbed to +45% then took two separate nose dives to wipe-out the $10K back demo test. Please someone tell me what I did wrong. Or is this its fate?
jerryI have forward tested the last two months and the largest Draw Down my account (running all 4 set file currency pairs at once) was less than 8%.
I believe your risk is too high. I would lower your risk down to handle the reversals better. That is what I did on my demo account and it worked great. If you noticed on my initial $10,000 account, I start trading with 4 nanolots. That is very safe. That would mean that if you want to trade with this risk, you would need at least $2,500 for 1 nanolot starting position at IBFX.
Starting Balance: $10,000 (November 3, 2008)
Current Equity: $12,138
Max Account Draw Down: 7.24%
Minimum Free Margin: 3625%
Statement: 5327078 - Demo
If you are interested in viewing the demo LIVE, here is the following demo information:
66.114.120.23:443
Login : 5327078
Investor : olm6zqz (read only password)
I have forward tested the last two months and the largest Draw Down my account (running all 4 set file currency pairs at once) was less than 8%.
I believe your risk is too high. I would lower your risk down to handle the reversals better. That is what I did on my demo account and it worked great. If you noticed on my initial $10,000 account, I start trading with 4 nanolots. That is very safe. That would mean that if you want to trade with this risk, you would need at least $2,500 for 1 nanolot starting position at IBFX.
This is exactly how you should trade this EA, in order to keep the float
at reasonable levels. That's a 20% return in eight weeks, or 130%/year.
Good job, holyguy7.
Rob
13 pairs, big movers omitted. 30% in two weeks. Range starting out at 80 pips and working its way to 160 pips. Take profit is just 20 pips higher than each range. Multiplier of 2.