Channel Trading: Viking1961 500 step system

Thanks a ton Dennis. yes, I have not taken this into account. I was only thinking that I will be making money in one account and losing in another, hence i was trying to figure out a way to transfer money between the two accounts to manage the balance, but you are right - as time goes and no of trades are more, I will be losing out a lot on used margin.

However leverage will help me to an extent but will not save me from going bankrupt i guess. I will think once again strongly by putting things on paper. but i think you have changed my mind.
Thanks again.

I’m very glad to hear that. You’ve done a great deal of work for this EA and I’d hate to see you end up losing money instead of making it (hand over fist forever and ever muuah-hahahahaha!)

Re
D

If I’d plunged into my strategy my fist would have gone up somewhere very unpleasant :slight_smile:

Questions for Michael:

  1. Since the EA will be running in accounts locked to a specific leverage, how should we calculate primer size?
  2. How do we calculate, or what do we look for in retracement patterns, when we decide where to place second, third primer etc. (and TP level)?
  3. What rules should we follow for channel extensions, meaning when and how to add regular orders to new areas as primers close?
  4. Should we have a maximum of one or two primers unprotected by SL in case of retracement?
  5. How are the lot increases (in the FAQ) calculated?
  6. What do we do with primers that are no longer larger than regular orders or above/below a new drawdown trigger?

Re
D

Hi Zepp,

Attached is actually Rev 2-0 which was previously uploaded at some page.
But this works as you want without the primers. So please remember to set UseAutoPrimer to false.

Let me know if this working ok for you. Try on Demo first.

Regards
CCGreenland Strategy 2-4.zip (4.08 KB)

[QUOTE=“crisscross1983;487241”]Hi Zepp,

Attached is actually Rev 2-0 which was previously uploaded at some page.
But this works as you want without the primers. So please remember to set UseAutoPrimer to false.

Let me know if this working ok for you. Try on Demo first.

Regards
CC<img src=“301 Moved Permanently”/>[/QUOTE]

Thanks,
Will test it when i get home…
One thing i have thought about, If i turn The EA off, and then on again, lets say after a primer run, how does it behave, If it is far from The old open trades, Will it use The old trades to calculate placement for new trades in The new area, so that we can later return to The old area without overlapping trades, or does the EA just wait for a return to The old area without doing anything? :slight_smile:

Edit:
If its The last one, could i then calculate it my self, and place a new BUY and SELL trade with The “Normal Sell” and “Normal Buy” comment set, to get The EA going again? :slight_smile:

Every normal trade that is opened by the EA will have a comment “Normal Buy” or “Normal Sell”.
Whatever manual trades you place will not be checked or considered by the EA.

Even if you switch off the EA and start it again, nothing should theoretically happen. But as you know please test it for a week on demo, open a lot of manual trades and confirm that all is working as it should.

As a precaution and custom I must emphasize that I am not liable for any losses that you would incur and that you will use at your own risk.

But I am going to use the same EA from next month too :slight_smile:

All the best
CC

[QUOTE=“crisscross1983;487247”]

As a precaution and custom I must emphasize that I am not liable for any losses that you would incur and that you will use at your own risk.

But I am going to use the same EA from next month too :slight_smile:

All the best
CC[/QUOTE]

Hahaha, i would never try to hold you responsible for my loss, or my actions :smiley:

I wish you all the very best. Which pair are you planning to start?

[QUOTE=“crisscross1983;487254”]

I wish you all the very best. Which pair are you planning to start?[/QUOTE]

GBP/USD for a couple of reasons…

  1. I already know alot about the pair from following news and other Channels for over half a year

  2. If i run into problems or doubts, it Will be easier to get pair specific help from viking, as its the same pair he trades…

But i Will go with 3000$ to start with 1x888 leverage and 30 pip TP, and 5 pip dist

you wrote 2-0 , but has attached 2-4 , is that correct?

EDIT: when backtesting it, it does not seem to open the extra trades to counter the old small ones :slight_smile:

Hi. Tried to test the newest EA.

Initially I got some errors with regards to size. I just loaded in the the EA with default settings without messing up anything.
I test on EUR/USD. I started out with 3000 USD, but for some reason it opens up positions 10x larger than wanted (i.e. first steps are 50 USD profits instead of 5), so to counter this I test with 30.000 USD, and just remove the last zero in the end.

However after around 170 trades the EA ‘stalls’. Not that it collapses, but MT4 just continues giving me this message, and no new trades are opened:
2013.05.08 22:43:43 2010.04.01 19:13 Greenland strategy Rev 1-4 EURUSD,M1: Alert: BuyPrimersize= 0.34000000

Suggestions?

[QUOTE=“Frawan;487449”]Hi. Tried to test the newest EA.

Initially I got some errors with regards to size. I just loaded in the the EA with default settings without messing up anything.
I test on EUR/USD. I started out with 3000 USD, but for some reason it opens up positions 10x larger than wanted (i.e. first steps are 50 USD profits instead of 5), so to counter this I test with 30.000 USD, and just remove the last zero in the end.

However after around 170 trades the EA ‘stalls’. Not that it collapses, but MT4 just continues giving me this message, and no new trades are opened:
2013.05.08 22:43:43 2010.04.01 19:13 Greenland strategy Rev 1-4 EURUSD,M1: Alert: BuyPrimersize= 0.34000000

Suggestions?[/QUOTE]

What are your settings?

All are just default. Haven’t touched anything except defining the start date and the amount (30.000 USD). Not sure how I copy paste them from MT4…

[QUOTE=“Frawan;487669”]

All are just default. Haven’t touched anything except defining the start date and the amount (30.000 USD). Not sure how I copy paste them from MT4…[/QUOTE]

Is your C drive full?
I had simular problems when MT4 had filled The 180gig i had free with log files with all the alerts…
I mean The stall… The risk seems to vary from broker to broker, If you look at some of The posts webzone made about it

Nope - still 20 gigs left, and no major logs… Well - I guess I will just have to fiddle around until I find a solution. One solution was increasing risk as you did, but then the positions opened are just too big.

Hi.

Here is my test with the most recent EA version.

Seems it runs out of equity just with the regular size trades. When I look at closed trades it looks as if TWO primers, set at the same open are the reason for the massive drawdown. Could this be a coding error, where the replacement-code affects the primers?

Anyone else having similar results?

Strategy Tester_ Greenland strategy Rev 1-4.pdf (649 KB)

[QUOTE=“Frawan;487795”]Hi.

Here is my test with the most recent EA version.

Seems it runs out of equity just with the regular size trades. When I look at closed trades it looks as if TWO primers, set at the same open are the reason for the massive drawdown. Could this be a coding error, where the replacement-code affects the primers?

Anyone else having similar results?

<img src=“301 Moved Permanently”/>[/QUOTE]

If you read the earlier posts, you can see that we already came to some conclutions about The way the primers are deployed, and that we are convinced that the primer part need some re-thinking…
And Dennis is trying to find a solution, but need some help, and i have tried calling in some help from viking, and he promissed me to come visit us here…

Sguide0: do you have some specifik questions for him that would help?
That would properbly speed up things, so he does not have to read the hole threat to help

Yes, I wrote them in post #504.

Re
D

Hello Zepp,

The EA is ver 2-0 renamed as 2-4. It will not change trade sizes once balances are changed. I posted that one because you wanted the EA to use lot sizes as defined by you.
i think there might be confusions, so tomorrow I will put two different versions of the EA with some definitions so that users can choose what they want to use.