Featured Martingale EA to explore and expand, provided by a programmer - page 3
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some idea...i just found this ea,and it seems really nice profit with very minimal drawdown...
try take a look https://c.mql5.com/forextsd/forum/84/martingle-rsi.mq4
hope this will improve your eaHi 1234,
Thanks for this ea! It works just like you said, nice profit and minimal drawdown. I've tested it on Strategy Tester, Visual mode, tic by tic (past 6 months or EURUSD). I'm putting it on my VPS Live Demo for a week or two. If results still look good, I'll go Live with it.
I really appreciate you sharing!! I'm sure this will give Christina some good ideas for the one she is developing.
Joe
PS - I changed Max Levels to 10 and Loss to 10,000 to give it a lot of room to breath. Max DD never got over 10% anyway, and Abs DD was even better.
Hi Christina,
Now that you have the trades firing off the indicators, I would guess your next step would be to work on Lot Sizing.
I like what 1234 said about adjusting the lot size for each trade level. Macman's Grid Thingy has this capability and I found it very useful.
I also like the Lot Multiplier you have built in. It give us a lot of flexibility.
I have two more ideas on Lot Sizing options:
1. Include the capability to adjust lots by increments. SWB Grid has this capability this is the way I trade it. Its somewhere between Classic Martingale and Lot Multiplier. Here's example:
Starting Lot Size 0.01, Lot Increment 0.01
First Trade: 0.01
Second Trade: 0.02
Third Trade : 0.03
Fourth Trade: 0.04
Starting Lot Size 0.5, Lot Increment 0.01
First Trade: 0.5
Second Trade: 0.51
Third Trade : 0.52
Fourth Trade: 0.53
I'm sure you can see the advantages.
2. Starting Lot Size based on standard money management practices. User sets starting risk percent for starting lot. Allow Risk to be set as low as 0.01%. A new starting lot size is then calculated based on account size as each group of trades closes out. I probably personally won't use it since I prefer to set it manually. However, for those with large accounts ($100K plus) this might come in really handy for them. Possibly for those with smaller accounts too if your EA ends up with low drawdown (say < 10%).
Hope you have a great weekend!
Joe
Hi Christina,
Now that you have the trades firing off the indicators, I would guess your next step would be to work on Lot Sizing.
I like what 1234 said about adjusting the lot size for each trade level. Macman's Grid Thingy has this capability and I found it very useful.
I also like the Lot Multiplier you have built in. It give us a lot of flexibility.
I have two more ideas on Lot Sizing options:
1. Include the capability to adjust lots by increments. SWB Grid has this capability this is the way I trade it. Its somewhere between Classic Martingale and Lot Multiplier. Here's example:
Starting Lot Size 0.01, Lot Increment 0.01
First Trade: 0.01
Second Trade: 0.02
Third Trade : 0.03
Fourth Trade: 0.04
Starting Lot Size 0.5, Lot Increment 0.01
First Trade: 0.5
Second Trade: 0.51
Third Trade : 0.52
Fourth Trade: 0.53
I'm sure you can see the advantages.
2. Starting Lot Size based on standard money management practices. User sets starting risk percent for starting lot. Allow Risk to be set as low as 0.01%. A new starting lot size is then calculated based on account size as each group of trades closes out. I probably personally won't use it since I prefer to set it manually. However, for those with large accounts ($100K plus) this might come in really handy for them. Possibly for those with smaller accounts too if your EA ends up with low drawdown (say < 10%).
Hope you have a great weekend!
JoeHi, Joe,
The reason I only share with a ex4 is that the structure along with part of the code has and will be used in my paid customer EA, although I will never use their idea built in this one, I just want to keep things simple without getting into any trouble. I don't see how, because I'm not sharing any EA other people paid me to do.
Since both of you said that EA 1234 pointed out is doing well, I will take a look at that thread as well.
In term of lot sizing, I will also update a new version with more option to choose from.
Thanks.
In my opinion i think there's no need to setting up the grid,what if let the indicator decide where to open the post and not by grid?And i've found alot of useful indicator lately,i'll post it later.
In my opinion i think there's no need to setting up the grid,what if let the indicator decide where to open the post and not by grid?And i've found alot of useful indicator lately,i'll post it later.
There are a lot of system does not involve grid, but this thread is dedicated to martingale to begin with, so I will go along with this direction. It's not to say martingale is my personal style, I'm more in favor of break out system.
If the indicator (or indicators) produce superb signals, along with reasonable take profit setting, you will find high percentage of trades goes into take profit without ever activate grid trading, that will be the best.
Hi Christina,
I will reply to both you and 1234.
Christina,
I understand your reason for not posting a decompiled ea. Its good that you respect a client's rights.
As your programming on this EA continues, maybe you can simply allow us to pick which indicator(s) to use in the Inputs. I would love to see Williams %R in the list somewhere.
1234,
I think Christina is on the right track with the grid. It looks like the Margingale RSI already does what you are suggesting (no grid). I'm sure you've also noticed that Martingale RSI can also enter 2,3,4 or more positions near the same price when the indicators are in concurrence.
By using a grid, we can take better advantage of more reliable starting points without entering too many positions at or near the same price. For instance, we know that good OB/OS indicators, like RSI, or CCI, or Williams %R can stack the odds in our favor when its time to enter a position. We also know that OB/OS indicators won't give the exact point that a market is ready to turn. We just know there is a really good chance that the market is getting ready to turn. As the OB/OS conditions become more extreme, our chances of success are better. I think a grid/martingale is a perfect way to capture this period of "waiting for the turn".
Just as an Example with EURUSD, lets say the RSI has just crossed above the 80 threshold and CCI has just crossed above 200. Time to enter the first position. Set up the pending grid trades. We know from experience that EURUSD rarely goes more than 100 pips higher after the RSI crosses 80 or when CCI crosses above 200. So, we set our grid spacing at 20 pips. That should give us a very high chance of success for the trade. Our chance of success becomes even greater as the market becomes more and more Overbought and the Grid insures we get continually better entry points.
One thing I really like about Martingale RSI is its ability to Hedge. If its Short on a high RSI and doesn't close out the trades when an opposing RSI signal generates, it simply starts entering Long without closing out the Shorts. Eventually the market is going to go one way or the other and when basket profit is reached it starts all over. I think this is one thing that really helps reduce the drawdown.
Joe
Hi Christina,
I will reply to both you and 1234.
Christina,
I understand your reason for not posting a decompiled ea. Its good that you respect a client's rights.
As your programming on this EA continues, maybe you can simply allow us to pick which indicator(s) to use in the Inputs. I would love to see Williams %R in the list somewhere.
1234,
I think Christina is on the right track with the grid. It looks like the Margingale RSI already does what you are suggesting (no grid). I'm sure you've also noticed that Martingale RSI can also enter 2,3,4 or more positions near the same price when the indicators are in concurrence.
By using a grid, we can take better advantage of more reliable starting points without entering too many positions at or near the same price. For instance, we know that good OB/OS indicators, like RSI, or CCI, or Williams %R can stack the odds in our favor when its time to enter a position. We also know that OB/OS indicators won't give the exact point that a market is ready to turn. We just know there is a really good chance that the market is getting ready to turn. As the OB/OS conditions become more extreme, our chances of success are better. I think a grid/martingale is a perfect way to capture this period of "waiting for the turn".
Just as an Example with EURUSD, lets say the RSI has just crossed above the 80 threshold and CCI has just crossed above 200. Time to enter the first position. Set up the pending grid trades. We know from experience that EURUSD rarely goes more than 100 pips higher after the RSI crosses 80 or when CCI crosses above 200. So, we set our grid spacing at 20 pips. That should give us a very high chance of success for the trade. Our chance of success becomes even greater as the market becomes more and more Overbought and the Grid insures we get continually better entry points.
One thing I really like about Martingale RSI is its ability to Hedge. If its Short on a high RSI and doesn't close out the trades when an opposing RSI signal generates, it simply starts entering Long without closing out the Shorts. Eventually the market is going to go one way or the other and when basket profit is reached it starts all over. I think this is one thing that really helps reduce the drawdown.
JoeHi, Joe, thanks for your comments. You said it correctly. My intention is not like most trading systems posted, state it's a good system, you can just pick it up without doing any hard work yourself. I think overtime people will find blindly following other people's system will eventually lead to failure for obvious reasons. There's no substitutes for hard work.
What I'm offering is to automate what you think could be promising and make it a reality and testable instead of just guess work, and I'm sure the code will be well written.
For example if you can come up with a set of details rules with Williams %R and visually test it and think it's good, I will supply another version for that logic. The EA is written in a way only a very isolated section needs to be modified for any logic.
Also hedge and martingale can be combined. I personally find hedging is tricky to do. I will give you my thoughts on the other system after I get a chance to read them.
Profit in $ issue?
Hey Christina,
Yes, I believe we are on the same page.
I've been testing the original CL further and think I may have found a bug. It's the Profit in Dollars. I believe its somehow tied to lot size.
(I set pips in profit to 200 so it wouldn't fire off that).
If I set Profit in $ at 5 and Lot Size at 0.01, it closes the basket of trades at $0.50 in profit.
Leaving all settings the same and changing only the Lot size to 1, it closes the basket of trades at $50.
Shouldn't it be closing the basket of trades at the Dollars in Profit set regardless of lot size?
Thanks,
Joe
Hey Christina,
Yes, I believe we are on the same page.
I've been testing the original CL further and think I may have found a bug. It's the Profit in Dollars. I believe its somehow tied to lot size.
(I set pips in profit to 200 so it wouldn't fire off that).
If I set Profit in $ at 5 and Lot Size at 0.01, it closes the basket of trades at $0.50 in profit.
Leaving all settings the same and changing only the Lot size to 1, it closes the basket of trades at $50.
Shouldn't it be closing the basket of trades at the Dollars in Profit set regardless of lot size?
Thanks,
JoeThis shouldn't happen. Dollar profit is regardless of lot size. Only when you use pip profit it's tied to lot size. I will make a demo of this to show you. Been really busy these days, I will try to do this soon.
Williams %R
OK, your offer sounds good. I'll put Williams %R in my EA I've written and test it for soundness. I THINK I can write a simplified Grid Pending Orders to go with it (we'll see, MQL is brand new to me). I'll post the testing results.
Joe