Blessing 2 - page 217
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Rob, I've been testing your settings most of the evening Rob and I have noticed one thing that I just can't get past: Blessing needs a HUGE account for the basic settings.
You are exactly right, Jeff. Since I use Alpari for my testing, I set initial
balance to $10K, which is the same as $1K on a penny-pip account.
With a standard grid, 1.4 multiplier, no MM, etc., this is the only way
I can get good profitability and low DD. I've tried $5K/pair and it is
very, very hard to get a good backtest. With smaller accounts, you might
be able to pass a three-month, or a six-month test, but not a full test
covering '08 and '09.
It's all about survival, so I am willing to sacrifice percentage return for
low DD.
Rob
Upcoming Changes
All,
I have seen significant contributions to this thread for quite some time. The more valuable contributions are those that forward test, backward test and live test. There are but a few on this thread who do that.
Then there are those who see technical advantages and potential safety contributions. I put myself into this category. There are many who have made suggestions but there are but a couple who actually have made these technical contributions to Blessing. I must say that I have, for the most part, ignored those potential contributions to the technical aspects of Blessing improvements other than my own. That is arrogant and hasn't moved Blessing 2 forward.
Blessing also deserves a charting makeover for a more pleasant look. I have made these type of improvements on other EAs but Blessing deserves these changes as well. Blessing should move forward in technicalities, safety, looks and potential. Most of the technicalities were added in "other versions" of Blessing but these versions had some small, programming issues that I have corrected. Here's what I am saying.
Blessing is moving and there will be a new version soon. The technical authors will get credit where credit is due. The menu will be revamped, simplified and more easy to use. The recommended pairs will remain similar and the chart "looks" will be enhanced. It will be the start of Blessing 3.
Rob got me started again by showing us the basics. I have but a few more tweaks to Blessing 3 but you programmers will see the changes. Menu selectable items will be hard coded back into the code so that the only thing folks need due is to change how much risk they want to take with Blessing and not worry about "how the spark ignites the engine". I believe we have shown time and again that Blessing's simple strategy just simply works on but a very few pairs safely and this is my intent.
With this new version, we will still be able to use small amounts but slightly larger than previously recommended ($500). It keeps the draw down to even less than what Rob has back-tested (3% further reduction). It will takes 40% less trades by capitalizing on correct entries and the profit factor will be 10% higher. All with money management on! I don't want to keep you guessing so you should know that the BBstoch version is where I am going. There was one coding issue that I had to correct but BBstoch corrects the issue of "blindly" slamming a new first trade out there and preventing an incorrect direction from being followed with the subsequent pain of a huge draw-down. BBstoch simply makes better entries and my hats go off to the technical author(s) of this addition. I don't know who you are at the moment but you will have credit to this addition.
Like it should be, this type of entry will be selectable. You will be able to select either BBstoch or MA. MA still works best with EURGBP with a minimum of $1000 on that pair. Chart types will be H1 vs daily because BBstoch makes a safer entry decision. MA will be hard coded to 100 because trend direction in the long term with quick retraces is what Blessing needs to work best. BBstoch parameters will be hard coded as well. You programmers can change whatever you like but the point of this is to allow a simplier menu interface for those "newbies" to FOREX. 2008 and 2009 have been very tough years for the FOREX market. What it has provided, however, is a way to make Blessing work even better during unpredictable markets. So, in predictable markets, Blessing will work even better!
Thanks to everyone who has contributed. Blessing 3 will arrive in the next couple of weeks.
Happy Trading
v/r
Hats off to you Iron and others. There are not very many selfless traders/coders out there who share ideas for others' benefit. If i new how to code I would do the same.
Thank you for your effort and hard work!
Good work, Jeff. You know the saying, "What goes around comes around."
I sincerely hope that all this hard work makes a big payoff for you and your
family.
I can't wait to get my hands on Blessing 3. I'm always looking for better
performance and less DD. My tester is ready to check this baby out.
Rob
Very nice. I will look forward to backtest it like a mad man.
Hard to believe
UJ just loves the H1 chart. I decided to push Blessing a little harder and
cranked up the multiplier to 1.5. It passed '08 and '09 without hitting EP.
Max DD was 25%, relative was 35%. Return was 200% for the two years,
or 100%/yr.
Blessing 3
Thanks Iron, I'm really looking forward to Blessing 3. And thanks also to Rob for all the work he does on the forward testing.
By the way, the author of BBstoch was Jepm, but not seen him in ages.
This will sound elementary after what Jeff said earlier but he did touch on one thing that was a problem for me when using the Blessing EA. Sometimes the EA would start in the wrong direction and have a several step draw-down. I started using Blessing in the "manual" mode and have had good success. I have two accounts and manually enter a sell trade in one account and a buy trade on the other account. If one account closes a trade I manually open another trade in the same direction so I always have a sell and buy trade open. I also have started stopping the trades at 8 levels and just let the trade run until it closes. This has eliminated my EP problems but trades may stay open longer. Does anyone see a glaring problem with this strategy?
UJ just loves the H1 chart. I decided to push Blessing a little harder and
cranked up the multiplier to 1.5. It passed '08 and '09 without hitting EP.
Max DD was 25%, relative was 35%. Return was 200% for the two years,
or 100%/yr.I must be retarded; followed your instructions for back testing and 1st test ran well. But, couldn't get any subsequent test to run properly.
Blessing 2
Hello,
i am no programmer, but i am looking in the code and i see condition "if (MC==2) {....." and cannot find what MC=2 means. Can you tell me the meaning of this condition? Thank you.