Although I do appreciate all of the time and effort you have put into this EA. I guess it is time for me to wish you best of luck and move on from this myself. You may not have noticed but my original post, which re-awakened this thread, was to others that might be using it, not specifically to yourself, but I have added my comments about your last post below. Maybe you will actualy learn something.
Hello Grock,
I really need to emphasis that you should consider going through BabyPips School of Pipsology as you seem to be missing some key points in your understanding of Forex.
Let’s take a look at that below.
• Time-Zones:
The examples you gave (3:00 PM EDT, 6:00 PM EDT, 7:00 PM EDT) are not time-zones but times. EDT is the time-zone (with Daylight Savings). Other examples are EST, UTC+2, etc.
All I was doing was giving you the time that the daily bar closed and a new bar opened for each broker. I am sorry for giving you additional information. I did not realize that would end up being a problem for you. It seems pretty obvious from my answers what time zone I was talking about, and I do directly answer your redundant question at the bottom of your questionnaire. Maybe if you read everything first before breaking out your poison pen it would save you some ink.
In the EA, if you set the Open Hour to “-1”, it should automatically adjust for the correct times, so do that instead of trying to set a specific hour. Please read the EA’s PDF documentation.
I had the EA Open Hour set to “-1”, yet the EA was still using different bars for the daily high and daily low. If this EA is at all based on the original poster’s system then the daily high and low would be from the same bar using the New York open and closing time regardless of the broker’s time zone.
• Stop Level:
This is the Brokers Stop-Level conditions and is not the size of Stop-Loss or Trailing-Stop you use in the EA. Each broker defines different levels depending on type of account and the symbol or currency pair used.
Apparently you do not know everything about brokers. There are many brokers who do not use a “Stop Level”. Their margin call and what you call stop level is the same at 100%. My brokers are two of them.
Please reference your brokers details and get back to me with this info so that I can provide you with the proper sizes for the S/L and T/S to be used in the EA.
100%
• Leverage (Margin Ratio):
For a Margin Ratio (Leverage) of 1:50, it is obvious that you are going to have difficulties in using 1-2% Risk with a balance of just $372.00. It is ludicrous. For a 5 pip S/L at 2% Risk, that would mean using a volume of 0.14 lots which would give you a risk of approximately $7.00. However, that same volume would be equivalent to a margin of approximately $448 which is more than your available balance. Even for a 1% Risk, a volume of 0.07 lots would be about 60% of your account in margin alone.
It is ludicrous? Let’s take a look at the simple mathematics. With a 5 pip stop loss and a $38.00 (and yes I did write $38.00) per microlot margin requirement, I could trade 9 microlots per trade without reaching a margin call. At 90% margin maximum ($334.80) which is what I had the EA set at and 1% risk maximum, a setting that I also tried, the EA should have entered a trade of 7 microlots. It did not. It traded 1 microlot. You also failed to notice that I mentioned that I was running your EA on two demo accounts. One with an approximate $10,000 balance and one with $50,000. They are doing the same thing risking much less than 1%.
It is obvious that you will not be able to do much with just $372 and a margin ratio of 1:50. That is why most of us here use much higher leverage (such as 1:500) for small accounts. You really need to do some research before committing your money. Unless your strategy can guarantee high win rates and extremely small drawdowns there is no way you can use such a small balance and low leverage with 1-2% Risk.
Looking at simple mathematics again you will notice that it does not really matter how much money a person is trading with, I could have an account with a million dollars, with leverage of 1:50 and a margin requirement of $38.00 per microlot traded the highest percentage that could be risked using such a small stop loss strategy is approximately 1.32%. I live in the USA. The highest leverage available to us is 1:50. Why would my 1-2 % risk strategy have to “guarantee high win rates and extremely small drawdowns” any more than anyone else’s? 1% is 1% no matter how much money you are dealing with. The only difference the leverage makes is how much risk one can take. As I stated in my last post I am only looking to risk 1-2%. In this specific case the most I could risk is 1% but my account balance has absolutely no bearing on this.
That is why the EA is forcing you to use a lower risk. It is probably using 0.01 lots for volume which is the smallest that it can go and represents $32 in margin and 0.13% Risk per trade for the stop-loss.
That may be what it is doing, but that is not your explanation of what it should be doing.
In summation, I think it best that you first do some research and learn more about trading Forex before you attempt to do any trading at all, let alone use an EA. Put in the effort and do your homework before attempting anything else with my EA.
I have been relatively successful trading forex for over two years and have been studying it even longer. I have several accounts with different funding levels. I use demos and very small live accounts for untested and potentially unreliable systems. Although I do feel the system that Vijaykumar came up with and you customized is potentially profitable based on your back testing, I have noticed that up to this point Vijaykumar’s seems to be doing much better on a live account.
Personally I have had enough of your sanctimonious attitude and answers to continue testing this with your input. I will continue testing both methods on my own.
Regards,
Carnino
EDIT: PS! Margin calculations depend on Account Currency and Symbol being used. In the case of the GBP/USD and a USD Account, the margin will fluctuate depending on current GBP/USD prices. Hence the reason for your quote of $38 for a microlot and my calculation of $32 instead, based on the price at the time I placed the post.
As for this last tidbit of inaccurate or incomplete information, my broker uses a flat rate of $38.00 per microlot as a margin requirement for the GPB/USD. Although this amount can fluctuate it has not for as long as I can remember and it is not based on the “current” daily price, and it is not $32.
Last edited by Carnino; 10-16-2014 at 07:57 PM.
Read more: 301 Moved Permanently
Good day and good luck.
