Blessing 2 - page 36
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Martingale systems is just a proven way to make slow, consistent and steady profit by taking advantage of the characteristic of the forex market. And it does that really well.
Dead on, kwkee. The problem with Martingales is that they make
it very easy to become greedy. This comes from over-sized lots,
under-funded accounts, too many pairs, etc. It pays to be PATIENT.
Once the balance starts to grow, lots can be scaled accordingly,
without adding additional risk.
It's a lot of fun to push the envelope with this EA, and I have done
it many times. But, only in demo. With a live account, the best way
is the conservative way.
Rob
Hi Jeff ,
I appreciate your great work in developing my EA , but you should not delete my copyright from EA
please fix this issue and always send me the latest version to put it in the first post.
Regards
New Version
FiFtHeLeMeNt,
Done and fixed...my apologizes. Please give me a location where I can send the latest version so it can be posted quickly. I'm usually here daily working issues on Blessing so I can immediately get it on the street.
v/r
where may we find the lattest version??
Lastest Version
JCosta,
It's here along with a manual..
Happy Trading
v/r
where may we find the lattest version??
settings
You are using too much risk if it gets killed. I am running two pairs, Euro/USD H4 and USD/JPY D1 and the DD so far is only about 10%. Multiplier at 1.4 only
Interbankfx mini with 0.01 lots and 1 pip = 1 cent.
4th week running now and it has gave me 15% by the third week.
Yes, the reversal causes some DD, but if you know forex, it's just a matter of time when it will rebound. The only question is, does your account has the longevity to wait for the rebound? Those high risk takers will not.
IMO, martingale systems is not to make you rich quick. I cringed whenever someone comes here and say that they had double their account in 2 weeks. It is just a matter of time this account will blow.
Martingale systems is just a proven way to make slow, consistent and steady profit by taking advantage of the characteristic of the forex market. And it does that really well.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
First post has been updated and I attached the latest version of EA to first post of thread
Some thoughts
Hi, I am new to the member but let me contribute some idea if possible.
This is great EA, thank you very much, Iron and all, but still needs to improve a bit on this logics as far as I play this in my demo. Let's make it almighty.
Iron and Fifthelement et al, please let us know what's your thoughts.
I see the drawdowns will come some day on this due to the equity protection which is excellent but it is not suffcicient when blessing does not earn the money more than the Equity protection. We all hope small (or not significant) volatility up and down occurs until Blessign make money to have buffer for us to survive to take the DD. i.e. It is best 20% earned before 20%(e.g.), and it will be very bad when drawdowns happens with loss.
I like also the way how the blessign now takes loss together with other gain at the same time. My demo shows for example 5 trades settled with the same price with combination of gain and loss possition, overall gains.
Is it possible for Blessing to losscut the position with oldest positions first? Or when Blessing executes new position on, say, 5th time (which means the existing trades until 4th are losing) , take a loss cut on the oldest one at the same time. Maybe loscutt should happens on the later position pyramidding stage, say 7th position or 10th positions based on the users tolerance of loss. Now I am running USDJPY. As you know USDJPY now seeing the historical low 80's or 70's, who knows whre is the lowest. When the rate touches say, 70yen per dollar, Blessign will make the sell position as 100 days direction is "sell". Let's assume the 70yen is the historical low then trend changed to "bigUP" from that day, this position will be the last position and this will not be liquidated until draw down happens when the UJ go up straight by 10-20 yen without hitting near 70yen? If the blessign increasing the positions as martingale, but always clear the oldest positions in the later stage, when half way coming back, in this example, UJ go up from 70yen to 80 yen easily but come down to 75 yen, there are more probabilities we can offset the loss on the positions from 70-75 range positions and 75-80 yen range positions. If blessing is already clean up the oldest or oldest 2 positions before it reached 75 yen while it were starting to go up, in the above coming down stage already making the enough money with residual positions. also with keeping the gain made during the up and down stage.
Do you guys see what I meant? I do not know how this is implied mathmatically but depend on our equity loss tolerance, my strategy testor blows up. WE can set the equity protection lower like 50% instead of 20% but it is easily happens depending on how one way trend continues.
Please let me know your thoughts and always welcome to have a opinion.
Folks be careful...this is not a completley true statement...(if you do not believe me take a look at a daily, weekly and monthly). If this were a true statement we would have a straight horizontal line marking the trading path. Yes we get a rebound, but not always back up to the BE.
I am allergic to statements like this:
Yes, the reversal causes some DD, but if you know forex, it's just a matter of time when it will rebound.
ES
Well this begs the question will the prolonged exit give enough benefit to offset the new positions that could be made and profited from now forstalled for the exit?
As far as equity protection...this is simply for backtesting....don't you martingalers know when to quit?...or do you need an EA to do this?
ES
The waves of price go up and down but never sideways..just find the TF
Hi, I am new to the member but let me contribute some idea if possible.
This is great EA, thank you very much, Iron and all, but still needs to improve a bit on this logics as far as I play this in my demo. Let's make it almighty.
Iron and Fifthelement et al, please let us know what's your thoughts.
I see the drawdowns will come some day on this due to the equity protection which is excellent but it is not suffcicient when blessing does not earn the money more than the Equity protection. We all hope small (or not significant) volatility up and down occurs until Blessign make money to have buffer for us to survive to take the DD. i.e. It is best 20% earned before 20%(e.g.), and it will be very bad when drawdowns happens with loss.
I like also the way how the blessign now takes loss together with other gain at the same time. My demo shows for example 5 trades settled with the same price with combination of gain and loss possition, overall gains.
Is it possible for Blessing to losscut the position with oldest positions first? Or when Blessing executes new position on, say, 5th time (which means the existing trades until 4th are losing) , take a loss cut on the oldest one at the same time. Maybe loscutt should happens on the later position pyramidding stage, say 7th position or 10th positions based on the users tolerance of loss. Now I am running USDJPY. As you know USDJPY now seeing the historical low 80's or 70's, who knows whre is the lowest. When the rate touches say, 70yen per dollar, Blessign will make the sell position as 100 days direction is "sell". Let's assume the 70yen is the historical low then trend changed to "bigUP" from that day, this position will be the last position and this will not be liquidated until draw down happens when the UJ go up straight by 10-20 yen without hitting near 70yen? If the blessign increasing the positions as martingale, but always clear the oldest positions in the later stage, when half way coming back, in this example, UJ go up from 70yen to 80 yen easily but come down to 75 yen, there are more probabilities we can offset the loss on the positions from 70-75 range positions and 75-80 yen range positions. If blessing is already clean up the oldest or oldest 2 positions before it reached 75 yen while it were starting to go up, in the above coming down stage already making the enough money with residual positions. also with keeping the gain made during the up and down stage.
Do you guys see what I meant? I do not know how this is implied mathmatically but depend on our equity loss tolerance, my strategy testor blows up. WE can set the equity protection lower like 50% instead of 20% but it is easily happens depending on how one way trend continues.
Please let me know your thoughts and always welcome to have a opinion.