My Grain of Sand - The Watukushay FE Expert Advisor - page 2

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Hello Again !

The live account has been created and funded with Fxclearing. You will find the myfxbook widget on the expert's webpage at Watukushay For Everyone under the "Testing WAFE" section. For the next two years the expert will be tested with a Risk setting of 3 on this live account. The expert is loaded on a VPS to ensure maximum uptime and minimum technical problems. I would like to thank everyone a lot for their interest and visits to the expert's website,

Thanks again for all the support

 

New Version of Watukushay FE

Hello Everyone !

After a lot of hard work and development over the first version of Watukushay FE I have finally come up with some logic modifications which greatly improve the profit/risk targets for the EA and greatly smooth out its equity curve. You can checkout the new 10 year backtests and download the new EA at Watukushay For Everyone. The live account test has been updated with the new version (you can checkout live results there too). Remember that this ea is totally FREE, my December 2009 christmas present to fellow traders out there I'll be glad to answer any questions you have about the trading system.

Thanks a lot for all your interest !

Daniel

 

Hello Again,

I have just added automatic contract size allocation to Watukushay FE, this eliminates the need for the mini_account setting. This eliminates the possibility of people setting the EA to very high risk levels when setting the mini_account variable incorrectly. Feel free to give your opinions about the EA or to leave any comments or suggestions,

Thanks again for all the interest

Daniel

 

Some Questions about Watukushay FE

Hello Guys,

Some discussion have arised in which I have answered very relevant questions about Watukushay FE. I will post them here so that you can all benefit from the answers I have given. The EA is currently near the end of its third month of live testing and up +6.9% with what seems to be (up until now) good back/live testing consistency although we still need many more months of testing to say so conclusively. The investor-access verified live test is available as a myfxbook widget at Watukushay For Everyone where you also can download the EA for free.

Ok, these are the answers I gave to some questions about lack of trading, profitability, compatibility, etc :

Regarding the EA not trading, bear in mind that the EA takes in average one trade per week, however the past month or so on the EUR/USD was particularly rangy so the EA remained on the sidelines for maybe 2-3 weeks. However there are very busy trading periods when the market trends strongly which in backtesting are apparent. If you backtest the EA and analyze the trades taken you'll notice that there are week sin which the EA trades 4-5 times. It depends on overall market conditions but in average the EA trades about once per week. Also make sure that the account you are using is above the equity requirements and that you are able to trade down to 0.01 lots. Bear in mind that the EA should ONLY be traded on the EUR/USD one hour chart.

Regarding compatibility between different experts, the problem is mainly that Watukushay FE uses the account balance and volatility to calculate its position sizing. So for example, if you were running it alongisde other trading systems then it would be affected by the loses and profits of the other experts. This will probably have a negative effect on the overall profitability. People often underestimate the importance of the calculated lot size and its adaptability against account balance and volatility. Having the EA affected by losing/winning trades besides its own can have very detrimental effects towards the trading strategy. For this reason, the EA is NOT compatible with other systems. It may seem to be able to trade alongside other systems without problems for a while but it WILL close all EUR/USD opened trades upon a trigger of its internal closing mechanism, amongst other possible issues.

Most brokers will easily allow you to open a second account and another metatrader instance can also be added on a VPS without any additional problems. I have to insist in that people often neglect the importance of adequate portfolio pairing and the effect of the lot sizing calculation on the overall profitability of automated trading systems. I am designing some portfolios with my experts but this requires extensive analysis to see the overall effects of doing so. It is NOT a simple thing to do. Jamming many systems on a single account almost ALWAYS has detrimental effects unless the pairing is designed carefully.

You may find interesting to read my November 2009 article on Currency Trader Magazine which details the effects of adaptive money management and how the simple lot size calculation can be VERY important towards the profitability of a trading system. Even turning a totally unprofitable system into a long term profitable one without any changes to the entry/exit logic (only the lot size calculation).

Regarding low profitability, well, this is always a matter of discussion. In terms of simulation, the profit made by Watukushay FE depends on the Risk level used with the average compound yearly profit being roughly equal to the maximum draw down the account is exposed to. So for example, a risk level which would give you a 30% compounded anual profit would give you a maximum draw down of about 30% on simulations. Please do your own backtests of the EA with different Risk variable levels to find some which satisfy your risk appetite. However I do NOT recommend using risk levels higher than 10 (corresponding roughly to the above exposed case) since the historical draw down cannot be assumed to be the worst possible case and therefore in reality we must trade the system as if the real worst possible case was at least twice as bad.

Of course, I am well aware of the fact that there are several aspects we need to confirm before calling Watukushay FE really long term profitable. Such things as live/back testing consistency and broker dependency which are VITAL to assess a trading system's profitability are already being evaluated for this EA. However Watukushay FE already offers something which almost NO commercial EA offers, a 10 year profitable backtest done with reliability in mind coupled with a live updated investor-access verified live account. Upon a year of live testing we will be able to do a strong evaluation of live/back testing consistency and with this we will be able to evaluate the EA.

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As you may know, my intentions with this EA are nothing but good. I sincerely saw that there was a lack of a free and reliable alternative towards long term profitability in automated forex trading and I did a great effort to code and put Watukushay FE forward. It is what I consider - through my years of experience in automated trading - a sound, reliable and honest approach towards achieving long term profitability. Is it a holy grail ? No. Is it perfect ? Of course not. It is a trading system based on a very sound trend following method which offers as much possible evidence of profitability as it currently can in a transparent and honest way

Best Regards,

Daniel Fernandez

 

Hola Daniel!

Hola Daniel.. I'm totally a newbie in this about Forex Trading, I starting maybe 2 or 3 months ago .. I found your newgrid EA very interesting.. specially in the Strategy tester of Metatrader---

Excelent Job, Im still dont have a real account but I keeping prtactising and trying to understand more about this.

Well.. about your WA-FE file, also looks like very interesting..but.. dont ndetrtand well.. how its works.. have to read more more..your site..

I put the WA 4E in a H1 eur/usd says SL and TP 72. ans lot size 0.1, Can I change that values..to try something diferent? and also.. in the strategy tester.. always have loss in the tests... with WA-4E due the SL.. how can i Change SL?

sorry my bad english..

Big hug.. and excelent work!

Roberto from Asuncion PY

Since one week ago im following you, and becoming your new FAN

Thank you for your work, sorry my english..

Big hug

Roberto From Asuncion PY

 

Where did y'all go? EA poop-out? Even the blog for this EA doesn't show download link for it. What's up? Perhaps a hint things went awry?

If things are still ok Daniel please update us, last post here is 2-1/3 yr-ago, and attach latest EA while you're at it with myfxbook link, Thx.

Jerry

 

Where did y'all go? EA poop-out? Even the blog for this EA doesn't show download link for it. What's up? Perhaps a hint things went awry?

If things are still ok Daniel please update us, last post here is 2-1/3 yr-ago, and attach latest EA while you're at it with myfxbook link, Thx.

Jerry

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