Chaa-Ching - page 2
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Hi Joforex,
The indie is here:
https://www.mql5.com/en/forum/179608/page8
Might want to try just taking the initial position outside the bands as I recommended and then let the EA do it's usual thing, since it seems to be profitable already. Less programming to start with anyways.
Regards,
ZipfrogThanks buddy I'll put it into the EA and see what it does. It could be it is a great filter I appreciate your input.
I ran a short, 3-month test, just to see what this thing can do. It definitely brings home the bacon. While I was monitoring the backtest, I could see it piling on the positions, so I feared massive DD. I was pleasantly surprised to see it end up at 23%, which isn't bad, considering the high returns.
Profit factor is quite high and the winning percentages are also high. I'd like to dial this in further, to see if I can lower DD to less than 20%. Next, will be my standard, two-year test for 2008/2009, which tends to present problems for every EA I put through the ringer.
My return is roughly 20%/month. I'm don't know how the OP could have gotten 100% in only five weeks, without taking on huge risk.
Regarding the n/a modeling quality: I just cleaned out the downloads folder and downloaded fresh data and the results were identical.
RobI do run it on five different currencies that return was maybe a coincidence where all things came into play positive. I have the statements and it is a real account.
Guys,
this EA works good on 1 minute chart. It can be optimized to any currency pair. You have to use the cycle indicator which makes the EA scale in to a trade. Also it has a choice of filter which is a SMA or a RSI.
It has a MM included that is working very well working the trade from a low fraction of risk towards a large kind of martingdale position. I have ran this now for the 5th week and the RoI is currently on a real account close to 100%.
It needs more creative minds that can write more tighter entry points to it. Anby ideas?
Thanks JoforexInteresting idea JoForex.
I set the TP for 30 pips and SL for 20 pips and hit my first trade!
I don't know what the optimal TP and SL are with this type of system but I figure if I could go around 50% win ratio with the above parameters that would be fine with me.
Any ideas on optimal SL/TP levels?
Currently, How does the system handle losses?
Thanks
I do run it on five different currencies that return was maybe a coincidence where all things came into play positive. I have the statements and it is a real account.
Here is the statement.
I set your numbers in the EA and Indicator and ran the EA on EURUSD forward testing tonight. Went up 50 pips real fast and then got hammered into the minus range!!!! HUMM, so much for believing backtesting results! Backtesting one month only resulted in 24% modeling quality. Unless it is more like 90%, have series doubts that it will run forward right.
As Zipfrog mentioned, I think some kind of additional filter may be needed to really make this shine....it does seem to have good potential. I ran some more extensive backtests, and the age old dilemna of martingaling reared its ugly head. There are times when it just keeps piling on the positions....i've seen up to 50+ positions being martingaled against a strong directional move, and then ultimately closing out most of them in a large loss, wiping out most of its previous gains.
Another thing I've noticed is that the indicator itself gives very different results depending on the broker. I ran the indicator on IBFX and MB Trading and it looks completely different with the exact same settings, and the backtest results are also completely different. I notice that the 1 minute bars on IBFX appear a little more smoothed out than on MB Trading and this difference in data may account for the different outputs of the indicator, but i was surprised at the magnitude of the difference, the signals were not even close to each other. You should probably tweak the indicator settings for the individual broker you are using.
Interesting idea JoForex.
I set the TP for 30 pips and SL for 20 pips and hit my first trade!
I don't know what the optimal TP and SL are with this type of system but I figure if I could go around 50% win ratio with the above parameters that would be fine with me.
Any ideas on optimal SL/TP levels?
Currently, How does the system handle losses?
ThanksFor right now I run it without a SL which leads to a pile up of positions. That is why I asked for ideas to make the entry points tied. maybe it would be helpful to take a four hour indicator as a trend measure that the cycle indicator stays with it in its execution.
As Zipfrog mentioned, I think some kind of additional filter may be needed to really make this shine....it does seem to have good potential. I ran some more extensive backtests, and the age old dilemna of martingaling reared its ugly head. There are times when it just keeps piling on the positions....i've seen up to 50+ positions being martingaled against a strong directional move, and then ultimately closing out most of them in a large loss, wiping out most of its previous gains. Another thing I've noticed is that the indicator itself gives very different results depending on the broker. I ran the indicator on IBFX and MB Trading and it looks completely different with the exact same settings, and the backtest results are also completely different. I notice that the 1 minute bars on IBFX appear a little more smoothed out than on MB Trading and this difference in data may account for the different outputs of the indicator, but i was surprised at the magnitude of the difference, the signals were not even close to each other. You should probably tweak the indicator settings for the individual broker you are using.
That statement is correct because data always differ. I noticed standard IBFX and micro account have different entries. I like to add a MACD 4 hour trend indicator to avoid those position pile ups. Can anybody can add that?
I set your numbers in the EA and Indicator and ran the EA on EURUSD forward testing tonight. Went up 50 pips real fast and then got hammered into the minus range!!!! HUMM, so much for believing backtesting results! Backtesting one month only resulted in 24% modeling quality. Unless it is more like 90%, have series doubts that it will run forward right.
Yes you are right that is why I believe it needs a trend indicator as filter before it validates the cycle to positioning itself. Can you ad?
Interesting idea JoForex.
I set the TP for 30 pips and SL for 20 pips and hit my first trade!
I don't know what the optimal TP and SL are with this type of system but I figure if I could go around 50% win ratio with the above parameters that would be fine with me.
Any ideas on optimal SL/TP levels?
Currently, How does the system handle losses?
ThanksI do not use stop losses bcs it has the problem that it is martingdale scale in. So you get wiped out. It needs a trend filter that is on a higher time frame like 1 hour or 4 hour.