Piplite v1.0 - page 6
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Hi Iron,
thank you for your ea. however when i backtest it for 1 year, the last transactions incur a huge loss and the account is busted...what happen?
regards,
Blowouts
All,
The market is what killed those particular backtests! The Equity Protection will prevent complete account blowouts. The key to success is to find a pair that will make it through the last 6 months. If anyone finds one, please share!
v/r
New Version
All,
A new version can be found here. An alert box is added if initial account balance is below actual account balance.
Happy Trading
v/r
Idea for improvement to EA
I believe it would be a good idea to make an improvement to the EA.
My idea is this: Before Piplite places an order, it must confirm using a combined RSI and MA indicators.
My idea is simple:
ONLY place BUY orders when the RED MA line (10) is BELOW the BLUE RSI line (14).
ONLY place SELL orders when the RED MA line (10 is ABOVE the BLUE RSI line (14).
Set the indicator to either the M30 or H1 chart.
This helps reduce Draw Down during trending like we are seeing now.
All other rules stay the same.
You will notice by the screen shot that this would have reduced down greatly the number of orders and DD.
What do you all think?
Hi Iron,
I had similar experiences to you with PipMaker and found your Piplite document very interesting.
I re-wrote PipMaker it 6 months ago, mainly so I could fully understand the code. Although I had scaled down the risk and the system did make money (was up 20% in 20 days on a real money account) I was never happy with the risk. I cant remember if the original PipMaker had a max account loss, I think it did.. anyway I had one on mine and set it to 50%.
I stopped trading it after the 20 days because I had to go away on business and havent really done much with it since, but I have been thinking about managing the risk somehow and found your ideas interesting.
At the time one method I was thinking about was basically to scale the risk down by limiting lot sizes as you've suggested and as I had done before but then limiting it further by trading the EA on several pairs, say 4 for example. This (the plan was) would essentially cut the overall risk down from say 50% to 12.5%, assuming that all pairs traded were fairly unrelated.
The nagging problem I had with this is that in a situation like we are experiencing at the moment, most currencies are all over the place and so its reasonable to assume that it would take multiple 12.5% losses, all mounting up.
As I say, I have not done any further thinking about it until today when I saw your thread.
Just wondering what your thoughts are on limiting the risk by trading multiple pairs and how that applys to your PipLite EA?
Sorry for rambling on a bit!
Draw Down Getting out of Hand
Currently, the EA is experience, IMHO, too high of Draw Down.
Here are the stats as we speak.
Piplite 1.5 with suggested SET files
Statement Piplite 1.5 Demo
Starting Balance: $10,000
Current Equity: $9,305
Maximum Account Draw Down: 13.19%
Minimum Free Margin: 1924%
Average Daily Gain: -0.51%
If you wish to view the demo running in REAL TIME, here is the information needed:
66.114.120.23:443
Login : 5340554
Investor : l6sazla (read only password)
Iron, I would highly suggest adding my suggestion to the EA when you get a chance. The suggestion if found HERE.
Basically, we want to keep Draw Down to a minimum which I believe my suggestion will do just that. My risk is more than 5X less than suggested. That means if I would have used suggested risk settings, my account would be down now 50%.
Holyguy,
TY
ES
ONLY place BUY orders when the RED MA line (10) is BELOW the BLUE RSI line (14).
ONLY place SELL orders when the RED MA line (10 is ABOVE the BLUE RSI line (14).
Set the indicator to either the M30 or H1 chart.
Hi Holyguy,
I like your suggestion, but I wonder if to further reduce risk, your criteria could be used to close ALL trades if the market starts trending heavily against us instead of temp stopping trading?
This might stop us out all too often though and put us in regular losses..
What do you think?
I like your suggestion, but I wonder if to further reduce risk, your criteria could be used to close ALL trades if the market starts trending heavily against us instead of temp stopping trading?
This might stop us out all too often though and put us in regular losses..
What do you think?I think it will stop us out too often. Better to keep risk relatively low to start. I like the idea of adding only when indicator tells us because it keeps us out of trendy times and only places multiple orders in rangy environment. This is where Marts shine anyhow. The only thing that kills Marts is trending.
I've been using the Piplite V1.0 Indicator on FXDD (live account) for testing purposes. Deposited $200 into the account on Monday the 1st of December, and today my account is sitting on $303.22 I do not stop trades manually, i just let the ea run and make pips. It's currently buying 0.01 lots, how do I change the EA so that it can buy/sell 0.02 lots?
Keep up the great work and happy pippin!