Blessing 2 - page 171
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Reversing the Grid
Has anyone tested reversing the grid instead it starting at 25/50, but 100/200, then 50/100, 25/50? I realize the trade may take longer in the beginning but at least as the lot sizes get bigger the number of pips it needs to take profit or break even is less. I think this will help psychologically because you are not looking for the big 200 pip move but only 50 pip when you are down 12 levels to BE or TP. I have been forward testing blessing with a wider grid, the draw down is less and it takes awhile before a trade is initiated. I just thought about the reverse grid this weekend and I don't know how this would work out mathematically. Any thoughts on this would be appreciated.
Blessing Explainations
All,
Seems there are some misconceptions about some parameters in Blessing so I will attempt to set folks straight.
The BELevel parameter is not what you think. It does not close your trades for break even. It is the level which, once hit, will trigger the logic of Blessing to close the basket once the total basket profit hits 0. It DOES NOT set the point at which Blessing stops placing trades! I, personally, do not use this function so it is set high (20). If your basket gets up to 20 levels, you've probably hit an EP stop anyway and besides, you are trading to make a profit, not to break even.
MaxLevels is the parameter that stops Blessing from placing any more trades. The default is 99 because you want Blessing to continue to place trades to garner a profit. You can set this lower if you don't want Blessing to place any more trades after a certain level.
Blessing trades by laying a grid at certain pip levels apart from one another. More levels means bigger bip spreads are set along with TPs getting tighter. Based on where your MA indicator is set, Blessing lays a grid to profit on a retrace. Therefore, it's opposite the trend. Blessing takes a profit with the TP parameter is calculates everytime a new "level" (limit trade) is hit. It calculates a new TP for all outstanding levels and modifies each open trades so that once the retrace happens, it has to run to the TP for all the trades to close.
If you've ever watched Blessing trade, the lower the number of levels out, the farther away the TP is set to garner a profit. More levels means a tighter TP on the retrace. If you get as far as 14 levels on the USDJPY for example, take a look at the limit trade that is hanging out there and you will see the "new" TP that Blessing calculates. If this next level is hit, each open trade is modified with this new TP. You will see, that because the lots are higher, the TP is tighter to the retrace in order for the basket to close in profit.
If you get "scared" about so many levels out there, you can adjust the BE parameter to the current level you are on, set the Max level parameter to the same (delete the limit trade out there) and once the retrace happens, the retrace will not have to go far (to the TP) in order to get the basket to a profit of 0. If you just want out of the basket, this is what you should do.
Folks are trying so hard to come up with a better way to trade with Blessing (stoch indicator, Bolinger bands, etc). If you simply understand that Blessing starts trading with a buy stop and buy limit (sell stop and sell limit), you will see that it's not about when to enter the market with Blessing but how Blessing lays the grid for a profit. The grid size, pip spread and average true range over time will yield the secret to a solid grid and eventual profit.
Finally, the AutoCal function auto modifies the grid pip spread over time and therefore is a "living" function to adjust the grid to market conditions. The true secret lies in the grid so give that area a try.
Happy Trading
v/r
Iron,
As always, thank you for your insights into Blessings inner workings. What you are saying makes perfect sense.
Additionally, I want to share my current Blessing trading strategy and I hope it might be useful to some one.
I have 3 accounts trading Blessing right now. I try and start each pair at different times in each account so that they aren't all trading exactly the same. I' ve attached the currency pairs and the starting lot size for each of the three accounts given my account balance. I hope this setup, I won't get stuck on one pair when it starts hitting those higher levels. To add more into the mix, I am using Blessing 5.1, 5.2 and even the stoch version across the three account.
Let me know if this makes sense to anyone or if you feel there is a better way.
Thanks to one and all for sharing your Blessing experience.
All,
Seems there are some misconceptions about some parameters in Blessing so I will attempt to set folks straight.
The BELevel parameter is not what you think. It does not close your trades for break even. It is the level which, once hit, will trigger the logic of Blessing to close the basket once the total basket profit hits 0. It DOES NOT set the point at which Blessing stops placing trades! I, personally, do not use this function so it is set high (20). If your basket gets up to 20 levels, you've probably hit an EP stop anyway and besides, you are trading to make a profit, not to break even.
MaxLevels is the parameter that stops Blessing from placing any more trades. The default is 99 because you want Blessing to continue to place trades to garner a profit. You can set this lower if you don't want Blessing to place any more trades after a certain level.
Blessing trades by laying a grid at certain pip levels apart from one another. More levels means bigger bip spreads are set along with TPs getting tighter. Based on where your MA indicator is set, Blessing lays a grid to profit on a retrace. Therefore, it's opposite the trend. Blessing takes a profit with the TP parameter is calculates everytime a new "level" (limit trade) is hit. It calculates a new TP for all outstanding levels and modifies each open trades so that once the retrace happens, it has to run to the TP for all the trades to close.
If you've ever watched Blessing trade, the lower the number of levels out, the farther away the TP is set to garner a profit. More levels means a tighter TP on the retrace. If you get as far as 14 levels on the USDJPY for example, take a look at the limit trade that is hanging out there and you will see the "new" TP that Blessing calculates. If this next level is hit, each open trade is modified with this new TP. You will see, that because the lots are higher, the TP is tighter to the retrace in order for the basket to close in profit.
If you get "scared" about so many levels out there, you can adjust the BE parameter to the current level you are on, set the Max level parameter to the same (delete the limit trade out there) and once the retrace happens, the retrace will not have to go far (to the TP) in order to get the basket to a profit of 0. If you just want out of the basket, this is what you should do.
Folks are trying so hard to come up with a better way to trade with Blessing (stoch indicator, Bolinger bands, etc). If you simply understand that Blessing starts trading with a buy stop and buy limit (sell stop and sell limit), you will see that it's not about when to enter the market with Blessing but how Blessing lays the grid for a profit. The grid size, pip spread and average true range over time will yield the secret to a solid grid and eventual profit.
Finally, the AutoCal function auto modifies the grid pip spread over time and therefore is a "living" function to adjust the grid to market conditions. The true secret lies in the grid so give that area a try.
Happy Trading
v/rIron, thanks this makes perfect sense. One question, does auto cal have to be true for the BE to work.
All,
Seems there are some misconceptions about some parameters in Blessing so I will attempt to set folks straight.
The BELevel parameter is not what you think. It does not close your trades for break even. It is the level which, once hit, will trigger the logic of Blessing to close the basket once the total basket profit hits 0. It DOES NOT set the point at which Blessing stops placing trades! I, personally, do not use this function so it is set high (20). If your basket gets up to 20 levels, you've probably hit an EP stop anyway and besides, you are trading to make a profit, not to break even.
MaxLevels is the parameter that stops Blessing from placing any more trades. The default is 99 because you want Blessing to continue to place trades to garner a profit. You can set this lower if you don't want Blessing to place any more trades after a certain level.
Blessing trades by laying a grid at certain pip levels apart from one another. More levels means bigger bip spreads are set along with TPs getting tighter. Based on where your MA indicator is set, Blessing lays a grid to profit on a retrace. Therefore, it's opposite the trend. Blessing takes a profit with the TP parameter is calculates everytime a new "level" (limit trade) is hit. It calculates a new TP for all outstanding levels and modifies each open trades so that once the retrace happens, it has to run to the TP for all the trades to close.
If you've ever watched Blessing trade, the lower the number of levels out, the farther away the TP is set to garner a profit. More levels means a tighter TP on the retrace. If you get as far as 14 levels on the USDJPY for example, take a look at the limit trade that is hanging out there and you will see the "new" TP that Blessing calculates. If this next level is hit, each open trade is modified with this new TP. You will see, that because the lots are higher, the TP is tighter to the retrace in order for the basket to close in profit.
If you get "scared" about so many levels out there, you can adjust the BE parameter to the current level you are on, set the Max level parameter to the same (delete the limit trade out there) and once the retrace happens, the retrace will not have to go far (to the TP) in order to get the basket to a profit of 0. If you just want out of the basket, this is what you should do.
Folks are trying so hard to come up with a better way to trade with Blessing (stoch indicator, Bolinger bands, etc). If you simply understand that Blessing starts trading with a buy stop and buy limit (sell stop and sell limit), you will see that it's not about when to enter the market with Blessing but how Blessing lays the grid for a profit. The grid size, pip spread and average true range over time will yield the secret to a solid grid and eventual profit.
Finally, the AutoCal function auto modifies the grid pip spread over time and therefore is a "living" function to adjust the grid to market conditions. The true secret lies in the grid so give that area a try.
Happy Trading
v/rAuto Cal/BE Level/Max Levels
All,
AutoCal works on its own. BELevel always works as well as MaxLevels. AutoCal just turns on a function that autocalculates the grid based on the average true range. The default for the ATR is a range of 21 days thus the 1440 and 21 for the default values. Bobster gets the credit for allowing us to change these values but I recommend leaving the default values as is.
So, to recap, Blessing has a set grid of 25/50/100/200. Initial values of stop and limit are placed 25 pips away from the current price and a TP is set at 50. It does this 4 times (4 levels). If there is no retrace by then it sets the next level at 50 away from current price for 4 levels with TPs at 100. These numbers are changeable from the default of 4 to anything you desire. I recommend leaving it at 4 for each. 4 + 4 is 8 and anything after 8 has the pip value for the next level set 100 pips away with a TP 200 away.
Autocal will calculate a grid based on ATR if set to true. The GAF then becomes functional as well squeezing or widening this calculation. If you notice the default set in EURUSD, the GAF is set at .9 so the autocalculation of the grid is set at only 90% of the calculated value.
BELevel and Maxlevels are outside functions that control how you want Blessing to trade, that's it.
Happy Trading
v/r
Starting lot size is .02(2-cents/pip). BTW, I made an
error in stating I was at level 12. I'm actually at level
14. I'm running the latest set for usdjpy, and it has BE
at 20! Is this supposed to be a cruel joke? I re-set BE
to 15, but would like your advice, George. Float is
currently -$860. My actual account risk is $1150, so there is a little room left, but not much. The grid on this set is
way too tight. I will go back the standard grid, if I get out
of this alive.
I'm currently 120 pips away from TP. The way things are
going, I wonder if it has even has a chance of hitting it.
RobSo, how did it work out?
Iron,
As always, thank you for your insights into Blessings inner workings. What you are saying makes perfect sense.
Additionally, I want to share my current Blessing trading strategy and I hope it might be useful to some one.
I have 3 accounts trading Blessing right now. I try and start each pair at different times in each account so that they aren't all trading exactly the same. I' ve attached the currency pairs and the starting lot size for each of the three accounts given my account balance. I hope this setup, I won't get stuck on one pair when it starts hitting those higher levels. To add more into the mix, I am using Blessing 5.1, 5.2 and even the stoch version across the three account.
Let me know if this makes sense to anyone or if you feel there is a better way.
Thanks to one and all for sharing your Blessing experience.yes i do pretty much same
but i only use 3 pairs eu uy uc. only 2 pairs traded per account
2 pairs per account only
i sometime close some pairs in profit before tp hits so that accounts don't start trading same time
For exemple on EU I rarely have 10 levels on 3 accounts, i may have 10 levels on one 5 on the second account and then 2 on the third one
blessing acted strange
I am not sure what was wrong but blessing closed usdjpy basket with loss.
Could you look at my set file and explain to me what went wrong. I thought that overall basket of trades should be in profit. I didnt get margin call or something like that.
detailedstatement_1.htm
usdjpy.set
So, how did it work out?
I'm almost there.
Rob