Blessing 2 v5.2 with Stochastic Indicator - page 37
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what I don't understand is that if we close the first trade (which I have done manually) we have to adjust all the remaining TP levels to maintain the target or BE settings that may have been set. I have in the pass, done the opposite and made money... close the last trade (the one with the most leverage) an then set the TP levels to what they were previously. E.g. you're at level 10 and things not looking good, so close level 10 when its in profit (i.e. beyond the original entry level ) and reset TP and limits to its previous level (i.e. for 9). You can keep doing this if you exceed a threshold...say anything above 8. then the EA continue to work as it should.
And you're left with the smaller size lots.
further, (having read your mesage again), we have the Poweroff SL.I did not know that closing that first position would screw everything up with the remaining trades Seank. (chit!) Are we SURE this would happen? And if so, (1) can we somehow have a "phantom" trade?? Get what I mean?
(2) Or can we somehow make the trades "fixed" in place if after a SL is hit?
Otherwise this idea will come to an end, we have to think up something.... sigh ~
I thought if this was used it canceled the on going trades, and since the last trades are the ones that have the best chance to produce profit we don't want to use that. -am I wrong?
That is why I just wanted a plain SL, so the trades would still continue.
[That was my thinking]
As far as Take Profit go, what determines that?
I have adjusted all the grind and TP levels to 10 and ran a backtest and it didn't change the outcome. I think the BBands might have something to do with that. I believe I made note of that here in one of my first posts. I still would like to know what determines the TP, do you know?..
After reading your reply I'm understanding more of what we are up against, the underlaying mechanics of it all. This might be harder then I thought ~
I hope not.... sigh ~
I have to think on this some more...
There has to be a way ~
Any thoughts I'm all ears Seank
Have a good day!
Chart
Okay.. let me give this a shot... I woul dhave to look at the code to figure it out...
if ATR is true then we're setting the grid and scaling our TP accordingly.
if ATR is false then its the fixed grid sizes. Lets are being adjusted to get us the 25pip TP... so we're hedging. If we close a lot..like the smallest one.. I don't think that would have much effect on us. Its the total lot size (i.e. $/pip) that matters. so as the market moves back in our favour we can cash in quickly. The DD is coming from the higher levels as the lots size starts to increase. So I am not so sure that an SL on Level 1 will make much difference. Look at the P/L for each open position and you will see that its the higher levels that are causing stress....if you do the math and extrapolate should the market continue against you.. you will wuickly see that loosing the larger lots allows you to stay in the game longer. That's why I would either try to reduce the total lot size (as suggested earlier) or us a smart EP setting.
But as I said, I would need to study the code. I have only looked at it when I wanted to tweak something... like the 2MA confirmation.
btw. For the lower timeframe I am working on a stop and reverse EA..which is much faster...
Smart EP setting?...
Sounds interesting seank ~
Well, if we can't figure something out that might just be the cost of doing business then I guess, taking a hit now and then. As long as at the end of the week we're in the GREEN
Hmmm, and a stop and reverse EA for a quicker TF... That sounds interesting as well. I do have a EA about 17 pages long of code that trades the 1 min very well, but you can't use a SL at all which is why I don't like it. I could post it here and let you see it and who knows maybe you could use something from it, or figure out how to make it safe. It trades perfect in a bactest, and I mean "perfect" but huge DD's.
You'll have to wait till I get home so I can post it if you're interested.
One other note....
Since we are talking about the quicker TF's, I wonder how Blessing or even your EA (stop/reverse) would do in a Tick chart? Here's how to do it, I haven't tried it yet...
Trading on tick charts with MT4 ! - Forex Trading | MetaTrader Indicators and Expert Advisors
Nice conversing with you seank
Chart ~
Hmmm, and a stop and reverse EA for a quicker TF... That sounds interesting as well. I do have a EA about 17 pages long of code that trades the 1 min very well, but you can't use a SL at all which is why I don't like it. I could post it here and let you see it and who knows maybe you could use something from it, or figure out how to make it safe. It trades perfect in a bactest, and I mean "perfect" but huge DD's.
Chart ~Do you have the source code for the EA you have ? that's the trick... with all martingale type EAs.. you need a deep pocket. Even Blessing does not really have an SL..its EP that helps and the BE settings. But I think putting our heads together and keeping it simple will keep us in the Green. I don't really like the lower TF since its noisey..but just depends on the strategy we're using. If you can spot a trend and move with it, great.
I am using blessing on the 4H and testing since 2007 and its doing okay. I really think some sort of smart EP or BE /max level setting can do the trick for us. I think there's alot of stuff already in the EA we just need to teak it for the pair we are trading. Anyhow, lets continue this, I should have more time mid-november, will get into this...
seank
I'll post the MQ4 EA for you and some snapshots.
It will seem like the holy grail but without safety it's really just a waiting trap IMO. Backtest produced 214 trades no losses, but about a 600 pip DD for a 1 min chart. That's GAMBLING if you ask me.
But I was impressed with it.
See if you can snag an idea or two out of it ~
I'm with you on the shorter TF's. Although with Blessing my 1 min account is still in the green, and of course the backtest you can see above. 5 Min chart I like better, less noise for sure, and even a 15 min chart. Above that I find DD's can happen pretty quick, while a quicker TF "sees" it coming.
What about multi-time frame EA's?
Even using a simple Stochastic in a 1 hour chart for trend and the same in a 5 min chart I think would be worth a look. If the Stochastic is positive in the 1 hr chart then the 5 minute chart ONLY trades BUYS on every Stochastic crossover that is positive, closes when it crosses negative. Likewise when the 1 hr chart's Stochastic crosses negative the 5 min chart trades ONLY SELLS and closes the trade every time Stochastic crosses positive.
I used to manually trade like this, except I also had a 1 min chart so I could see the pivot coming in the 5 min while watching the 30 min and 1 hour charts major trend . I did ok with this method. But you have to sit-right-there all night to do it ~
We'll keep kicking this around and see what come of it, and I'll post that EA tonight when I'm back home, maybe it'll spark some idea...
Have a good one!
Chart ~
Scalping EA DEMO only, no safety!
Ok this looks great, but has horrible DD's.
This should be demo traded only IMO, or used for parts
Chart ~
1min EUR/USD settings of Blessing
Still kick'n butt
In a trade right now at $20.00+ so I'm still very pleased with this set-up.
This is the only EA so far that I'm even thinking can trade the 1min chart, and check out the 4% Equity Protection setting!!
Talk about safety
That other one above is dangerous, no stoploss and huge DD's so unless we can tame it, it's useless.... Idea's anyone?...
I have it tweaked this far
So far it looks like Blessing can be ran in a 1, 5 and 15 min chart -as well as the higher charts of course.
Later Board ~
Chart
seank
I'll post the MQ4 EA for you and some snapshots.
It will seem like the holy grail but without safety it's really just a waiting trap IMO. Backtest produced 214 trades no losses, but about a 600 pip DD for a 1 min chart. That's GAMBLING if you ask me.I've tested all kinds of EAs that trade like this. This goes
back to Steinitz with his "no-loss" EA. It was no-loss
because it never closed losing trades. It only closed out
when TP was hit. Very dangerous, in my opinion.
Blessing has always been a high time-frame trader. In
my backtests, it runs into problems, very early, with TFs
around M30 and lower. There are many posts on this
topic in the original Blessing thread, including several
from Iron, himself. A lot of uninformed newbies were
blowing out accounts, due to running M5 - M15 charts.
Blessing was designed to run on H4 and D1 charts for
good reason. I must qualify this, though, by stating this
is only for the original EA, without any indicators.
What about multi-time frame EA's?
Even using a simple Stochastic in a 1 hour chart for trend and the same in a 5 min chart I think would be worth a look. If the Stochastic is positive in the 1 hr chart then the 5 minute chart ONLY trades BUYS on every Stochastic crossover that is positive, closes when it crosses negative. Likewise when the 1 hr chart's Stochastic crosses negative the 5 min chart trades ONLY SELLS and closes the trade every time Stochastic crosses positive.MTFs are a great way to trade. Once trend is established,
you can "dial-in" a better entry point on the lower TF.
Again, very good technique, but requires a LOT of baby-
sitting.
I like your enthusiasm. It's always nice to hear from
someone willing to do some work and take the concept
out of the box. You will find, as have I, that Blessing is
a tough nut to crack. The core of the EA is very solid.
The most important considerations are understanding
the importance of balance and lot size. The bottom line
is that no matter what you do to fine-tune entries, Blessing
will be countertrend sooner, or later. It then boils down
to money/risk management, as to whether an account
blows, or stays alive.
Rob
Still kick'n butt
In a trade right now at $20.00+ so I'm still very pleased with this set-up.
This is the only EA so far that I'm even thinking can trade the 1min chart, and check out the 4% Equity Protection setting!!
Talk about safetyThat's outrageously cool. I may become a short time
frame believer after all! The 4% EP is your safety
net. At that rate, one can afford some EP hits. In fact,
I'd be willing to go 10-15%, if the EA can successfully
stay in the game.
Rob
Thanks for the input C-Rob ~
Yeah I had to tweak it HARD to find that 1 min setting, even gave up once!
Time will tell if it can hold water. If it seems like it's holding then I'll start the scans all over but with downloaded history over a year or two and find a good general setting. That's the goal anyway ~
And yes, that other EA is danger ha ha ~
But so tempting, because there "must" be a way to tame it...
There has to be, but good luck finding it, I tried -crash and burn!! lol ~
But I tried
Later ~
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