Blessing 2 - page 65
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For all you Blessing traders, we had a great retrace today
on usdjpy. Locked in a very nice profit. Gotta love this EA.
RobYou gotta rub it in
Had a $1000 down-draw in the eur/USDA when the bottom fell out. You were right, I'm only at lvl 8 and I was already sweating it. I think lvl 9 will trigger a margin call; thankfully, it stopped about 85 pips shy.
I think after/if I recover, I'll move over to one of the other pairs. I think the eurusd is just too volatile for Blessing right now. Good for scalping though.
Blessings setting
Hi,
I'm new to this EA, but strongly believe that it has an excellent potential with all build-in features. I have some experience with Martingal-Systems and know how fast they can blow up the account.
I studied most of the post's and trying to set it up now.
Unfortunately the description Iron gives in his manual is at some points kind of confusing (at least for me
).
E.G. Iron speaks about a standard- and micro-account. How about the mini-account?
Also Iron speaks on page 3, last paragraph about a contract size of 0.2385. Have no glue how he comes to this number and correlates it with $2385 where he backs out. Unfortunately there are no information about the stop loss. Without a stop loss it is not possible to calculate it.
As I understand from this paper a standard account with $ 10,000 trading 4 pairs would be traded with a lot size of 0.01.
OK here my problem starts. I started Blessing with MIG-Broker and a standard account (10,000). With this account the minimum lot-size is 0.1. In order to work with Blessing I had to switch the account to $100,000. But who has 100,000?
OK probably you say that this is than the wrong broker.
When I use Alpari with an micro-account I can trade 0.01 lot sizes but the max. lot size is limited to 2 standard lots (the demo has no limitations).
Going to the 12sth level (summary of contracts is than 1.96) would still work.
So I will start again with Alpari.
1. question:
Are there any experiences concerning the pairs and time frames?
2. question:
Concerning the Automatic Grid Adjustment, Iron says that the grid will be calculated by using the ATR over a period of one month. Is this automatically done by the EA?
Thank you for the support and I hope that I can distribute to this great forum with my experience with Blessing. Hopefully Blessing is a blessing for all of us
.
Best pips
Antomi
Automatic Grid Adjustment
I assume that the automatic grid adjustment works automatically.
I calculated the ATR for 1 month (EURUSD, about 20 pips).
According to the manual the TP would be 20 pips above the entry price.
Some minutes ago a first trade-entry was at 1.3291 (long). The TP should be 1.3291+20 pips= 1.3311, but is 1.3373 which is 82 pips.
The GAF has a standard setting of 1.
May be someone can explain how the automatic grid adjustment works. According to my understanding it should take the ATR for the last month add it to the entry-price and use it for the TP.
If I'm wrong, please correct me.
Antomi
Automatic Grid Adjustment
I assume that the automatic grid adjustment works automatically.
I calculated the ATR for 1 month (EURUSD, about 20 pips).
According to the manual the TP would be 20 pips above the entry price.
Some minutes ago a first trade-entry was at 1.3291 (long). The TP should be 1.3291+20 pips= 1.3311, but is 1.3373 which is 82 pips.
The GAF has a standard setting of 1.
May be someone can explain how the automatic grid adjustment works. According to my understanding it should take the ATR for the last month add it to the entry-price and use it for the TP.
If I'm wrong, please correct me.
AntomiForgot to inform you that the ATR for the EURUSD was for the 15 min TF.
ATR on TF15min= 20 pips
ATR on TF30min= 28 pips
ATR on TF60min= 45 pips
ATR on TF4h= 74 pips
ATR on TF 1day=108 pips
I hope that the EA recognize automatically the TF.
Even with all above mentioned ATR's the TP is not correct calculated!!
Any experience or ideas?
Thanks again
Antomi
Closed at a loss!
Hi all,
Referring to my previous post. Blessing had 8 open trades on the eurusd 4hr time frame. It closed all trades at a $2.40 loss. Is this normal?? It also left one pending order open.
Has anyone else experienced the same?
Rgds
Eddie
I had 7 trades open and it closed for a profit of $2.10
I'm new to Blessing so don't know if this is normal, but it sure is frustrating as the drawdown was around $100
Hi all,
Referring to my previous post. Blessing had 8 open trades on the eurusd 4hr time frame. It closed all trades at a $2.40 loss. Is this normal?? It also left one pending order open.
Has anyone else experienced the same?On my live account I had one basket close for a small
loss. Don't know why, as it should always close for a
profit. I don't think it's the EA - more than likely, it's
some kind of glitch with the feed.
Rob
I had 7 trades open and it closed for a profit of $2.10 I'm new to Blessing so don't know if this is normal, but it sure is frustrating as the drawdown was around $100
Blessing works best with some draw down. If the pair
has a decent amount of chop, it will often see 2-6
progressions. The key is chop, not trend. You want
pairs that basically trade within a channel, but with
good price movement. Make sure your account has
plenty of room for neg float and don't use a multiplier higher than 1.4.
Rob
I've been running live for a while now. And so far I've had no issues with opening or closing trades. I'm using an IBFX Standard account. All open trades were closed at the take profit level.
One thing I did was to use a wired connection to my router rather than a wireless. Provides a more reliable internet connection.
Blessing works best with some draw down. If the pair
has a decent amount of chop, it will often see 2-6
progressions. The key is chop, not trend. You want
pairs that basically trade within a channel, but with
good price movement. Make sure your account has
plenty of room for neg float and don't use a multiplier higher than 1.4.
RobStrange TP
Hi,
I'm testing Blessing V5 since yesterday on different time frames, just to see how it behaves and to understand the logic. Meaning that the time frame is not according to the suggested settings, but that is not important in this case.
The strange thing is that the TP (for a long signal, buy) is sometimes lower than the entry price, which results in a loss, please see the attached image of the Account History.
Any idea how this can happen? As you see from the report it happened with 3 pairs.
Please see the attached statement and the GridSet for USDJPY.
Help would greatly appreciated.
Thanks
Antomi