Blessing 2 - page 70
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Here is the live report from my account for the past 30 days.
What TF are you using??, and what version??
Dave
<<
I just tried version 4.8 on 15 min TF and won and then got hammered (Upside down positions) because there is no Stoploss in program.
avoiding unnecessary orders
Chomper,
I agree, you have a good idea for avoiding unnecessary orders and so keeping the float at a reasonable level.
Regards,
ChrisstoffI started with backtests (strategy-tester) and that was an eye-opener.
I know from my own martingale experience that the "impossible" will happen some day. Because if something can happen it will happen, only question of time.
Attached is an image from one of my backtests. EURUSD 1h. During only some hours the price was below the MA and Blessing went short. Unfortunately short time later the price went up almost 900 pips over the next days without any remarkable retracements.
Starting with a lotsize of 0.01 and an account of 10,000, the account was after 14 levels ruined. The breath was not very healthy, actually it was deathly.
With the option that Chopper proposed (post 668) this would not happen!
We all would benefit from this additional safety measurement. Why taking unnecessary risks?
Pleeeease Iron we would greatly appreciate if you could build this in.
Thanks
Best
Antomi
4 or 5 decimal
All,
Blessing works on either 4 or 5 decimal platforms. Not to worry...
v/r
Timeframes
All,
Please understand that Blessing is designed for DAILY timeframes. There are only two pairs that were tested with 4 Hour timeframes, but daily is the timeframe it uses. Anything less will blow up your account. So posting a EURUSD 1 Hour test does not show us anything. Of course it will blow out.
I will give Chompers suggestion some thought but Blessing has not destroyed any of my accounts, live or demo. Please test, use and report results from the suggested timeframes as all others will simply not work over time.
BTW, Blessing is not a true martingale. It's most profitable multiplier factor is 1.4 based on a grid. Only one indicator is used and it's used only as a suggestion since Blessing likes to use price movement. I have entertained literally 100s of ideas for improving Blessing but the suggestions must come from tests on proper timeframes.
v/r
Here is proof that my idea with the EMA crosses works!
currency balance
I started with backtests (strategy-tester) and that was an eye-opener.
I know from my own martingale experience that the "impossible" will happen some day. Because if something can happen it will happen, only question of time.
Attached is an image from one of my backtests. EURUSD 1h. During only some hours the price was below the MA and Blessing went short. Unfortunately short time later the price went up almost 900 pips over the next days without any remarkable retracements.
Starting with a lotsize of 0.01 and an account of 10,000, the account was after 14 levels ruined. The breath was not very healthy, actually it was deathly.
With the option that Chopper proposed (post 668) this would not happen!
We all would benefit from this additional safety measurement. Why taking unnecessary risks?
Pleeeease Iron we would greatly appreciate if you could build this in.
Thanks
Best
AntomiThis may be true but you have to have currency balance. If you got all your eggs in one basket, yes this can happen but if you trade 2,3,4 currency pairs and used portion control than yeah you can lose money but it would only be limited to may be one pair. What I mean by this is don't use the same currency base in all four pairs use unrelated currencies. For instance, I would never choose eur/usd, usd/jpy, cad/usd because all have usd as part of the pair. If there is bad new about the us economy, everyone dumps the usd then every one of these pairs could go 8 levels at one time. Pick something like aud/cad, usd/jpy, gbp/eur all with different currency mix so if there is bad new about the us econ than usd/jpy may go 8, 9, 10 levels but the other currencies may continue to trade uneventfully. That's why I like the aud/cad, usd/jpy which are unrelated currencies. I am testing gbp/eur, eur/chf using eur/usd settings daily TF to see if it can fit into the overall strategy. I think eur/usd is too sentitive to the news.
What modifications do I need to make to the set files to convert from 4 decimal to 5 decimal broker. Do I need to add an extra zero to the grid sizes and TP's.
good
we're at least 2 running it that way !
only one indicator is used and it's used only as a suggestion since Blessing likes to use price movement. v/r
As i told you earlier guys, the key of the blessing system is here, Iron said it again above. We want to profit on fx behaviour.
Moreover i think that adding the MA cross filter you mentioned would totally modify the ea logic and profitability. Grid would not be followed as in the original blessing, meaning hitting TP would not always be profitable...
The only way in my opinion to improve ea safety is to :
- use bigger balance regarding the lots and pairs traded
- diversify : find other uncorrelated pairs (see jolinsz post) with the good settings on H4 or D tf
- determine for each pair we decide to trade the minimum safe balance required
Alex