Blessing 2 - page 71
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Here is proof that my idea with the EMA crosses works!
This should prove to be interesting. This would change
the core logic of Blessing, since it is based on price-
action.
What EMA time frames do you suggest for a daily
chart?
Rob
good we're at least 2 running it that way !
But How the GAF works?
Could you help me?
I use it this set GAF=1. If I change it 2 or 0.5 what will happen?
Or 1 is ok? I just wanna reduce the risk.
How about this, rather than modifying Blessing's logic, why not trade two accounts, one currency pair, and set one to trade long and the other short? With conservative MM set on both accounts, neither should bomb. And if we are caught by a prolonged movement in the wrong direction on one account, the other should keep us going.
Now if this logic could be incorporated into Blessing
Just my 2 pips worth.
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
Alexavoiding unnecessary orders
Hi Iron,
Thanks again for your work and thoughts.
Yours and propabaly the tests from many others showed, that it is important to use the "right" TF (or better the best TF) and I agree totally with that.
I only did the 1 h test to check the week spots of Blessing.
What is the difference between 1h and 1 day TF? Of course everyone knows, just factor 24, nothing else.
Meaning that the chance to blow up the account is with a 1d TF just 24 times lower. But nevertheless as I said before, if the chance is there it will happen, it just takes a little bit longer.
It is great that you haven't experienced that in you account yet, it gives us a kind of secure feeling but that might be dangerous.
As I understand most of the tests where done over a period of 1-2 years.
In order to get comparable test results (1h compared with 1 day TF) you have to run backtests at least for 24-48 years! We know that this is impossible because of different reasons.
If I'm right, that the TF is just a time factor and has no other effects on the results (I can't imagine any, at leat with a time action EA) a smaller TF is the only and best possibility to enhance the test period (tests with much more data). Provided that the test parameters (MA, etc.) are accordingly adjusted.
Due to this a real secure system (only based on price action, which is important) has to work with any TF. If this isn't the case than we should rise the caution flag.
I know that this is a bold statement and I'm surpised by myself
but that is the only conclusion I can draw. Again that is only valid for systems based on price action.
I had a long discussion with a friend about that and there are some more factors to take into account.
The most important is the kind of historical data available. Best case would be real and accurate tick data. Than the TF should have no impact at all.
I have only 1 min data available and that has already a negative impact (meaning that the test result will differ from the real one, particulary if the TP-range is low).
In the mean time I made also tests based on 1 d TF. It wend up to level 11 and had a severe DD. Also a high TF is not a save shield.
These are just my thoughts and I hope I can make a dristibution to make the Blessing more robust.
Best
Antomi
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/rOf course it works
I already tested this profitably on the same account.
But the profit you'll make on one chart won't cover the float of the other that is caught in the "wrong" direction. The best profit is always made when you get some nice float before. That's why you need to respect the recommended balance for each traded pair. Float of chart1 will always be bigger than profit of chart2. Let's say you trade EU short and EU long then you need to use a total of 500usd. To trade this way you just need to modify the MN in one of the ea you'll use and set MC not based on the MA.
But it's not the best way to diversify and secure your account. It can be an option once you already have the 4 recommended pairs. As Iron said MA is just here to decide the trend but trading both ways would be profitable if enough balance is on the account.
How about this, rather than modifying Blessing's logic, why not trade two accounts, one currency pair, and set one to trade long and the other short? With conservative MM set on both accounts, neither should bomb. And if we are caught by a prolonged movement in the wrong direction on one account, the other should keep us going.
Now if this logic could be incorporated into Blessing
Just my 2 pips worth.What is the difference between 1h and 1 day TF? Of course everyone knows, just factor 24, nothing else. Meaning that the chance to blow up the account is with a 1d TF just 24 times lower.
I'm sorry, but i don't get it. What do you mean 24 times ?
Time Frame
Hi everyone,
Just an observation, Price Movement for this EA is actually independent of time frame...The time frame that we use on each chart only controls the periods used in the ema settings..example a 4 hour time frame chart set to 100 means that the ema will be calculated with just those parameters..
I'am sure many of you have used or heard of the Henery EA. It has been around for quite some time.. The developer of that EA now has a new one that he considers "much safer": called the DHIKA EA.. http:// Exchange Forex | Forex Expert Advisors | Metatrader | Forex Rate.
If you check the site you will notice that most of the external variables for this ea are the same as the Blessing2 ea... I don't think that it is a coincidence, but rather another testiment to the success and viability ot the Blessing 2 EA..
THANK YOU IRON!!
Time Frames (1h, 1d)
I'm sorry, but i don't get it. What do you mean 24 times ?
Hi Alex,
I guess 1 day has 24 h.
If you backtest 1 week on daily basis you only have 5 bars, but if you do that on a 1 h base you have 120 bars (5x24=120).
Going to 5 min TF you have already 1440 bars.
I'm not sure whether I can explain what I mean (english is not my native language, sorry).
You can look from different perspectives, the makro and micro one.
If we assume that the Forex market is random than a price action trading system should work similar in every TF.
The smaller the TF the more data available and the more reliable results.
Every system developer has the intension to check his/her system over the most possible time period.
If I test Blessing on a daily basis over a 2 year period I have only about 520 bars (for the sake of order that is not 100% correct but helps to get the picture).
Who tells me that this is sufficiant? Actually that is nothing.
But If I check Blessing over the same 2 years with a TF of 1h I have 12,480 bars. And even going down to 5 min TF I have 149,760 bars.
If I can find the parameters for Blessing to survive these bars I'm on a very safe side an would throw all my money in it (maybe not all
).
If the statement is true that Blessing can only survive on a 4h/1d TF (and that is according to my information only based on 2 years backtests, or 520 bars) this would mean to me, that the time will come when the account crashes.
Or in other words, up to now (mainly) Iron proofed that with his settings Blessing had survived about 2 years backtests on 4h/1d TF but at the same time that means also that it didn't survive on more data (because a smaller TF is nothing else than more data, from the micro perspective).
I'm pretty sure if we would backtest Blessing with the given settings on 1d TF for 48 years (48 years backtest with 1d TF equals 2 years backtest with 1h TF) it would not survive.
Because if you hit a worst-case scenario in your 2 years 1h TF test you will have it also in your 48 years backtest with 1d TF.
Oh, you migh say 48 years is a long time and than I will be already retired.
The bad thing is only, that statistically the worst thing can happen every day, even every bar.
What I'm trying to say is, that 520 bars successfull tests are just not enough for me and that I urge us to make the system as much as possible bullet proof.
But these are just some basic thoughts, much more other factors have to be taken into account.
By the way - and I said that before - Blessing is the best EA I've seen so far and therefore thank you FiFtHeLeMeNt for coming up with it and Ironto make it even better.
You both
Wish you all a great weekend.
Best
Antomi
OrderSend error 131
To all,
I'm getting crazy!
Since today the Strategy Tester does not work anymore for Blessing. The others EA's are working.
All the time I get in the journal an OrderSend error 131.
I googled and found that it has most of the time something to do with the kind of account (standard/micro).
I checked everything I can think of, but still not working.
The same problem occurs with Alpari as well as IBFX.
I loaded the standardset for EURUSD, tried different settings, different accounts, but Blessing give salways the same error (see attached image).
Hopefully someone has an idea.
Antomi
To all,
I'm getting crazy!
Since today the Strategy Tester does not work anymore for Blessing. The others EA's are working.You can run backtests until you are blue in the face.
You really should put together some demos, so you
can see how Blessing behaves in real market conditions, with data it has not seen. This will give you a realistic
perspective regarding margin, draw-down, profitability,
etc. This is where the rubber meets the road. You will never feel comfortable, until you walk Blessing forward
on a live feed.
Keep it simple. Start a demo with just usdjpy and
proper set file, on D1 TF, with .01 starting lots.
Recommended balance should be at least $500 on
1-cent pips, or $5,000 on 10-cent pips. For added
safety, I would double the starting balance.
A second demo could be run at the same time, with
two pairs and the appropriate increase in balance.
Then you can compare the performance of two pairs
against your single pair account, in order to assess
any changes in margin, DD, and profitability.
Rob