It is very informative post.Really help us this article.Thanks.
wELL. IT’S HARD TO BELIEVE BUT MY pEPPER ACCOUNT JUST WENT OVER 100 % GAIN SINCE THE BEGINING OF NOVEMBER
lol that’s really messed up when you compare it with the rest eh.
And if it’s not, too bad you didn’t start that on a live account!
I do find the FXOpen Demo servers are pretty much in synch with the FXOpen Live servers…there may be minor discrepencies but hardly noticeable, especially on the daily time frame. Will have to check it out a bit more though to make sure.
Keep up the good work alto, if you wanted to be sure the forward test on a live server would work, what you could do is load up the EA on a live server, see where it places the pending orders, then close the orders before they get triggered, then you can see how that particular trade would have played out in the coming days…paper trading ftw. You would have to do it though at the candle open so to be able to close the trade before it gets triggered. Food for thought.
Nice work Atlos, just a quick one, it looks like your trading with alot of pairs, do you have the EA setup to with all of them 24/7 or do you chop and change depending on the markets ?
Also are you using the default settings of the v24c EA from this thread ?
Yes, have a look at post 659 on previous page. This morning I am going to print out the journals for a couple of days and have a look for the discrepancies. EA is on all pairs 24/7. I tend to view the market as a basket. The SL will take out those going contrary and the profits will run. A bit simplistic perhaps to this point in time but I will look closer at that next week before I start a new demo lot and cycle. I note this morning Vantage demo has expired overnight.
Ah interesting, now i get how you trade, if you dont mind me asking what pip level do you use for the basket ? This would explain how you your results are quite different to mine. To be fair even if you think your approach is simplistic it is working and that is all that matters.
Also with regards to demo accounts i trade on demo and live with hotforex and their demo accounts don’t expire, at least so far for me. The longest running demo i have going is the Wicks H4 EA, which is 4 months now on demo.
From your experience do you find the EA works better for you using the basket case approach rather than the original strategy ?
Hi Sandy - don’t understand the question “what pip level”. If you mean do I limit the number of trades and therefore exposure, in this case no. Neither have I bothered to compound the account as it ran. I just wanted to see the vanilla behaviour.
Brokers - hah! my long time usage is FXPro - maybe a couple of years on some. I will have a look at Hot FX, I see they are in Mauritius which is nice as I like offshore accounts (and trade copiers). I have had live accounts at a lot of US criminals until they went to 50:1 and stuffed up hedging. Could still hedge with a correlated pair but 50:1 is no use to me.
I never tried limiting the pairs if that is what you mean by original strategy. The 5 MA’s are supposed to do that for me. To be honest, I don’t remember what the original strategy was. 
Have to check.
Also just started up The 8 but I think I may leave out Xmeter. 
Hey sorry my bad for badly explaining myself. I’ll start again, i think i may have misunderstood you. You mentioned before about seeing the market as a basket in post 665, i thought you traded the EA in one of the following ways:
- EA 24c with default settings on each pair
- EA 24c with default settings on each pair but when all open trades reach + 200 pips we close all open trades.
I was thinking you were trading as method 2 above, as James did have a close_all_net_pips option in the EA to work as a basket?
Thanks
Hah, yes. #1. It is kinda like a rotating basket, all pairs are constantly in play. Fib entry is 40 as in ootb. I am relying on the EA TP & SL to control everything. No, I am not doing a Speiler or specifically correlated pairs. I view all combinations of the 8 major pairs although at present there are a few not in. I think all in gives you 25 pairs from memory so I have left a few out. Will review this next week.
Need longer term testing on live accounts and Windsor may improve our values a bit as he has shown.
This is a very nice, simple and clean method and I hope it holds up longer term.
Interesting, i was only running on about 6 pairs, what is the drawdown like running with all 25 pairs, do you only allow 5 trades running at any time ?
Im just concerned about a large drawdown with running the EA on so many pairs thats all.
Yeah, I know, it is always a bit of a worry. This is why I am using FXJunction, it presents me with a clearer, read, easier picture than I can get from pouring over Account History. I have not restricted the EA opening positions. I really doubt I can get entries against me on 25 pairs at the one time so if I was live I would adjust to maybe 4 % risk - that is the risk level I have in the EA - oops, not ootb ! If you also have other profitable accounts running different strategies then this 4% may well be less of the overall.
We talk about TP in most forums but MM is really key in the bigger picture.
Results
(12/17/12)
GBPUSD: BUYSTOP at 1.6227, BE at 1.6252, TP at 1.7233, and SL at 1.6103 -> BE hit and we’re sitting at +40 pips. Next level at 1.6385. Trade is still OPEN.
(12/18/12)
GBPUSD: BUYSTOP at 1.6278, BE at 1.6302, TP at 1.7257, and SL at 1.6157 -> +5 pips trade closed
EURUSD: BUYSTOP at 1.3245, BE at 1.3266, TP at 1.4073, and SL at 1.3143 -> +5 pips trade closed
No new trades opened last night.
GBPUSD - Bearish close above 50EMA
EURUSD - Bearish close above 50EMA
AUDUSD - Bearish close above 50EMA
USDCAD - Bullish close under 50EMA
So the first trade I placed on Sunday night (Sunday for me, Monday for Tokyo) is still active. I was tempted to close it last night at +20 pips but hey, it’s a demo account so I’ll let it run it’s course. Will post more updates as they occur and will eventually get it on a publisher someday soon lol. Cheers.
Sometimes MM is more important than the strategy itself. If you have good MM you can turn a losing strategy into a winning one. That is my only concern with this method, the risk/reward ratio can sometimes be screwy, sometimes it’s less than 1:1, sometimes it’s as high as 4:1 or higher (with my new way of trading).
So far things are working out well, and have been for over a year now.
Thx for all the hardwork you guys have been putting into it!
Oh one more thing. I have the EA up and running. Here are the results so far.
Both trades were opened on the 18th
GBPUSD: -11 Trade is OPEN.
EURUSD: +5 pip at BE. Trade is closed.
Weird how the manual trade I placed on GBPUSD hit the BE while the EA hasn’t. I know I was using my ‘new’ rules but the entries were similar I thought…I’m at work so I can’t double check until I get home. Will let you know though as soon as I get home.
Hi Windsor,
Sandy Beach pointed out that his BE wasn’t getting hit. Seems that an internal function I used in the code is no longer functional, so I modified the code. Here is the corrected EA. Thanks for checking this EA out.
Defaults:
Multiple trades
Trade Monday
Trade Friday
Not closing trades on Friday for weekend
Using BE and Fib levels for “trailing stop(s)”
Using 5 Smoothed MA High/Low channel as filter to prevent ranging market losses.
If you use a different trading method, please inform us, and I can modify the EA to fit your style.
Wicked_Wicks_ea_v25.zip (12.1 KB)
P.S. Also added an input for “Commission pips”. If you’re trading ECN with commission, for example and pay $10/Lot commission = 0.1 pips. Put that in setting so when you hit BE, you’re not minus the commission.
Windsor, I went back and found your post here. I will make a new version adding the 50 ema filter, and your fib calcs. It might take a while on this because the code for the fib calcs, drawing, and stops was kind of convoluted. I might re-write the whole thing hopefully in simpler fashion… Not sure yet.
Thanks for all your hardwork with this jbentz, I know how much of a pain in the butt the coding can be and how one little mistake can screw things up. Goood work, and thanks for the update. I’ll throw it up on my account as soon as I get home.
I just created an account over at FXJunction, will put the FXOpen demo up there that’s running the EA as well as my manual trades. Cheers!
Thanks James take your time on the EA no rush
Much appreciated
James, that would be brilliant. You may recall I was having lots of problems with the Pepperstone account. These problems continued with Pepper and yet you will see from my links that Pepper outdid the other brokers shown. Of interest, the Pepper log file is usually about 6 times larger than the other brokers I have used. The other brokers seldom show any problems in the Journal so this is a Pepper (demo) issue. Obviously not an EA issue.
I had noticed some surprisingly large losses but not followed them up yet on charts but now it has been mentioned the BE function may well be responsible.
Another thought I had : Is it practical for you to have pairs that don’t qualify for a trade on any given day, not to show the Fib lines ? . . . . and also is it possible to have the Fibs showing for only the direction of the trade, maybe as a switch option if you think they have value for hedging ?
Best regards and have a good Xmas - as long as the Mayans were wrong.
AltosT
James - Hopefully an easy one for you. If I go thru’ 24c and change every instance of Friday to Saturday and change to day=6 as you previously advised, will that still function correctly. ie. I am just changing a variable name.