Piplite v1.0 - page 14
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All,
I'm sorry you feel that way Enforcer and Holy Guy. Several of your suggestions went into this EA but the bottom line is that this EA can go big into Draw Down. Enforcer, you once believed in this EA in the Pipmaker thread and made extremely positive contributions. Piplite is a whittled down version yet the logic, for the most part, remains the same except for MARSI Cross, time delay and trend window. Much of the dead weight code is gone though. However, even with these additions, they were not needed for this new version to trade at a significantly higher profit potential. Piplite needs margin to do its thing. That is the idea behind portion control.
In line with the creation of portion control, I believe that the coding of Piplite was not about trimming down its action by adding more and more filters but adding a "when" to trade function. There was no control as to when to trade with Piplite. There is now!
The old code with regard to pausing and quiting trading was antiquated by today's standard. Today, we have a trading session code in Piplite. This is a powerful addition to Piplite. You can set it to trade any period you desire. If you turn this feature on, it will not place trades on Sunday night or Friday (news and weekend protection) and will trade during the trade session you pick.
You can find the new version here along with a set file labeled GBPUSD m30 time throttle. I've attached a backtest to this post showing how powerful of an addition this is. It quite literally tripled it's profit by only trading half the time! Plus, it made it through EVERY market condition this year.
This addition will satisfy those who want to trade at a particular market time each day. This backtest was done for trading from 4 pm to 4 am EST. That's 1600 to 0400. My server, IBFX is 5 hours ahead of my time so the time that is set into the session time is 21 to 9. Half the exposure and triple the profits. Hmmm.
Finally, for those who don't like to see a drawdown, consider using portion control (or another EA). If you have a $2500 account, set the portion to 2 and Piplite will trade with only $1250. If you have 50% set for your EP, then you are only risking $625, 25% of your account. If you want to trade with Piplite, you must have the stomach for a large drawdown. I've recommended 50% here and 50% on the Blessing thread. Take note, however, the attached backtest NEVER got to 50%. It stayed within that window!
This is the first time I had to respond to a negative posting about Piplite so forgive some of the emotion. I believe by what we do here, we can help others. I believed in Pipmaker until is wiped out my account several times. The code was overtaxing and hard to manipulate and frankly, there was no protection in place for your hard earned money. That's why we have Piplite. The mantra is account protection. Thus, Equity Protection features, portion control and now time control make this a viable EA for the GBPUSD. Please help out by testing other pairs if at all possible! I hope I've helped at least one person here with this latest version.
Happy Trading
v/r
Mm
If you want to trade Pipmaker on a broker than only allows .1 starting lots, you may want to consider a different broker or quite frankly, a different EA. Starting with .1 lots means you should have at least $25000 in your account! This is a Martingale EA, it works on margin and needs money to trade.
If you still want to trade .1 lots, either increase your risk till the base lots equals .1 or turn off money management and put .1 lots in the manual lot section of the input menu. Good Luck!
v/r
hello Iron and to everyone. I congratulate you for this great EA . I just wanted to comment on that version 1.6 is perfect, but the 1.7 does not work on my broker, because only works with lots of 0.1 and above. As the legend goes that puts "starting lot size: 0.01" and that there is no way to change it. On the backtest it says "ordersend error 4051" and in the version 1.6 that is not happening. You could fix it?
(Sorry for my bad translation from English)
Thank you very much for sharing.Hi iron,
I looked at the backtest of the new version (v1.8):
Factor profit 1.98, that frightens!
It is not good!
I believe you are mistaken. The higher the Profit Factor, the better the results. Around 2 is outstanding. Around 1 is not so good. It's the drawdown that you want to keep low.
v/r
Hi iron,
I looked at the backtest of the new version (v1.8):
Factor profit 1.98, that frightens!
It is not good!Please help. Which program files to open mq4 files? Thanks
Hi Iron,
My laptop just went wrong, and I had it re-installed totally.
Now, I just took my laptop home, but I could not download or open the files ending in "mq4", "exe4", and ".set" files. This means that my laptop lack some softwares or program files to understand these files "mq4", "exe4" and ".set".
Could you please kindly tell me which softwares or program files I should install into my laptop so that I can download the files "mq4", "exe4" and ".set" ? Please tell me the download links of these program files.
Thanks a lot.
Best regards,
James
backtest EURUSD30M 1YEAR
bad result with EURUSD
Backtesting
All,
This is not a "catch all" EA. The original concept of Pipmaker and now Piplite was not for the EURUSD. Piplite works best on GBPUSD and always has. Prior pairs that worked were EURCHF, EURGBP, GBPCHF and CHFJPY. Recent updates to Piplite have not allow complete backtests on all pairs therefore the GBPUSD was "tweaked" first.
I will do my best to backtest on these pairs when I get the time to do so. With several projects and a new trading company, it's becoming tough to keep up with all the new variations of Piplite.
Happy Trading
v/r
I just wanted to comment on an idea
Hello everybody.
I just wanted to comment on an idea. Piplite ea is a great, but it has a weak point. If the trend goes against our entry it does is open up more positions in the same direction, so that when get a rebound, it always comes, we recover our losses and get the expected benefit.
The problem is that the rebound may take more to get our money in exhaustion, and then lose 50% of our capital. To avoid this we must have a large capital and invest only with small batches, so we get a steady return, but small.
I can think of a possible solution: When the trend goes against our entry, instead of opening more positions opposite to the trend, open them in the same sense of this, with TP = 10 & SL = 15. In this way measure that increases our floating loss, also increases the benefit, which compensates about the loss and our equity is maintained. No positions would have to close if this decreases by 50% because in that proportion would have risen about our benefit. In addition to tp = 10 could even get an extra benefit in the oscillations. Then also, when you reach the Rebound, to reduce the loss of the position first to be opened in the expected benefit, would be closed the position.
In this way the operation of piplite would like now, but would not be necessary to have a big business to function well, and this would allow us to risk a higher percentage for greatest benefit.
Well this is the idea. But I am not a programmer, and adapt it to piplite not know. I think it deserves penalty and give me your watch and your reviews possible improvements and clear someone who fits.
This is translated by google, if not understood and decided to seek another way to make things clear.
Piplite on ranging pairs...
10% in just a few days, 1.46% drawdown, over 4 profit factor.
Piplite on ranging pairs... 10% in just a few days, 1.46% drawdown, over 4 profit factor.
Can you post your statement too please?
Regards