The difference in our results could be both broker dependant and the fact that I did not leave the wave following stop setting on. I have it turned off and have a 20 percent trailing profit. This is pretty tight and does get me out of trades pretty quickly if they start to falter. As a result I don’t get as many of the home runs that take a lot of time to develop but I also don’t have to stare consecuative losses in the face which tends to add to my trading anxiety. I guess my trading style is I would rather be a little right a lot of times, rather than really, really right a few times. Just me.
So my settings are
EU M15
FIFO True - (dang us criminals)
Assign SL and TP - True
FV-4
SV-40
Vol-2.0
TPR-20
“This is quite close to default but I think it will produce better results in today’s choppy market. 5/64/1.9 This is what I’m using in my live account now.”
I would be happy to run backtests on these settings, can verify your fifo settings, and if you used TPR value other than 0.
I also do not trust this bot when I am away from my comp for very long. When I go home I turn the lot sizes down to .01 or if I’m going to be gone for a few days, off altogether.
Tested with lot size 0.01, $500 acct, M15 3/8/10 to 3/8/11
Rayoungs Fifo-True, Assign-False, 5/64/1.9/0
+$616, PF-2.06, 8.3% dd, 13 losses in a row at one point.
Default settings but Fifo - True
+525, PF-2.08, 10.9% dd, 16 losses in a row at one point.
ej5 settings Fifo-True, Assign - True, 4/40/2/20
+282, PF 1.99, 6% dd, 6 losses in a row.
It looks like my settings reduced my consecuative losses in a row but significantly reduced my profitability doing so. I think I will set my demo account to Rayoungs settings for now as well. On demo I will see if I can get my ahead around letting trades bounces up and down.
Just out of curiosity I will run some optimizing around Rayoungs settings since I did not run these tests with TPR set to 0. He may already have the best ones but it will be fun to check.
Next we need to give this bot some bigger teeth and see if we can put our heads together to get settings for other pairs. Also, it might be interesting to look at the bot on other time frames. The higher time frames may give more reliable signals, but the lower time frames may give lots more scalper like trades.
Hey guys.
So last week was basically break even for me. I had quite a few little losers and break evens. Than I had a couple of decent wins and today I had two amazing wins and over the last week I have managed to close at least 3 trades in the +46 territory each. I would basically close them if I was around. I am wondering if I am cutting them a little short but I have decided not to concern myself to much with what I am “leaving on the table”
By the end of the week I will post all my trades and the percentages I risked. I can say for certainty that my account is definatly up.
Hey pipparella nice to see you kicking-a$$ thanks for all your effort. I wish I had time to trade the indicator. It seems to be very profitable.
I have just received a pm from a friend on another forum.
Even though I am at least starting my morning with two profitable short Trades (looking that way) he backtested my settings which as you know are the indicator settings.
He found that his settings were more profitable.
Here are Rayongs's Settings and what he said.
"This is quite close to default but I think it will produce better results in today's choppy market. 5/64/1.9 This is what I'm using in my live account now."
EJ, if you could compare your settings with Rayongs in a Backtest I would REALLY appreciate it.
I have decided to change FGB settings on DEMO2 to Rayongs and will be changing DEMO1 settings to yours.
Interested in Rayoung and others comments and observations on the followings settings derived from further optimization around Rayoungs suggested settings.
Everything the same as last posting except the main three.
Seems like as the vol factor goes up the number of trades goes down but the more accurate the bot gets. The lower the vol factor the more wildly it takes trades but it churns up more profit in the long run.
Three losses so far with the new aggressive settings but a nice Buy/Long has occured very early on Demo1 and just this second on Demo2 quite a bit later but lets see!
We shall see.
I slept through my Alarm this morning which is not a good thing for the Scalping Strategy settings but o.k for the other Rayong settings.
Which brings me back to perhaps changing the Scalping Settings to the Rayong settings at the end of the day and inputting them each morning when the Market is like this.
How many accounts are you using this on? I’ve gotten about 9 trades this week and most of them losses (normal setting and not manually closing). Bad thing is most of these trade simply sucked. Went in after like 6 arrows and immediately dropped for a loss. I don’t see the normal setting working for me so far =/
I have been using the default settings still 5/60/2.0. For risk I use fixed lots. I had been calculating my risk based on 24 pip stop loss. As of this morning I am trading 5 lots as apposed to the 4 lots I was trading. In some of my trades I notice fgb opens a double trade. Today she opened three buy orders in a row. All around the same area. I love it when it works out but days like today suck. FGB now basically trippled my risk and lost all three trades. As far as broker/accounts. I am only using 1 live fxopen account.
Jk, Thank you so much for elaborating on the fixed lots, SL and trading 5 instead of 4 lots!
DannK,
Following please find my friend RAYONGS SETTINGS.
We are all giving them a try and he is using them on a “live” account.
They make FGB a little more aggressive but not as crazy aggressive as my Scalping/Indicator settings.
Following please Rayong’s Settings
Fast Volatility FGB(5) to (5)
Slow Volatitility FGB(60) to FGBI(64)
Volatility Factor FGB(2.0) to FGBI(1.9)
Here are directions on how to do it
A. Right click on your MT4 Window
B. Go to Expert Advisors
C. Properties
D. Click on input TAB
E. Scroll down and locate the above settings and change them to what I have listed.