I am recommending that you set “Stop-Loss” and “Trailing Stop” to 7 pips. Also, please read the PDF documentation carefully for explanation on each parameter.
Hallo Mr.Carnino. I have a question please. In the report above the modelling quality is indicated as n/a. I thought that if you use ‘every tick’ model to backtest you should get a modelling quality of 99.9%? Any idea why yours shows n/a? Regards.
When using the internal simulated ticks it gives a percentage quality, but when using external tick data it displays as “n/a”.
In order for it to appear again as 99.9%, one has to launch [I]MetaTrader[/I] using either “TickStory” or “Tick Data Suite”.
However, in this case, I forgot to do that and it appeared as “n/a”.
Since, I suggested using 7 pip stops in your case, here is the simulation for that case:
DBT2015-7pips.zip (26.2 KB)
Thanks so much for the clarification. In that case i see using the 5pips is more profitable than 7 pips.
Hi Carnino,
I wanted to risk 4% per trade so i changed the risk maximum to 4 but the marginal maximum remained as 5. However,the lots allocated per trade remained the same as when the risk maximum was 1. This is happening when backtesting. In that case,if i want to risk 4% per trade, ideally i should change the risk maximum to 4. But what about the maximum margin? Should i change it to 20 in that case?
Regards,
Mary.
Yes, there are two limiters, the [B][I]Risk%[/I][/B] and the [B][I]Margin%[/I][/B]. Even if you increase your [B][I]Risk%[/I][/B] to 4%, depending on your leverage and capital, the [B][I]Margin%[/I][/B] may be limiting your position size. You would have to increase that accordingly.
See Post #735 for explanation about Leverage and Margin calculations and Post #736 for an explanation about the two parameters on the EA. Also, make sure to follow BabyPip’s own School of Pipsology on these matters.
If you don’t understand these concepts fully, then don’t use any EA, but rather practice manual trading on a DEMO account until you fully understand it.
Hallo Mr. Carnino,
If one wanted to work with a fixed TP and SL without using the trailing stop and trail step,would it be possible with this EA? If possible then would one set the trail stop and trail step values as ‘0’?
Regards.
Yes, you can use it, but you will have to set the [I]Trailing Stop & Step[/I] to a value larger than the sizes for the [I]Stop-Loss[/I] or [I]Take-Profit[/I].
Looking forward to testing this out.
Hello Carnino.
Casting back your mind a couple of years or so,you may remember I was occasionally involved in this thread. For personal family reasons I had to drop out for a fair while.
I have now been able to re-kindle my interest in the Forex market, and am looking for a viable ‘set and forget’ system. Do you know if the original Parmar 3P system is still working for any of the original posters, or even you yourself. I am obviously giving it a try for myself, using the setup from the early posts.
Hope things are going well for you.
Kind regards,
Stickerman
Hi again,
No system is [I]Set-and-Forget[/I] if you want to be successful at trading. There is no “holy grail”!
As for the EAs found on this thread, they are quite old and I have no idea if they are still profitable or not. You will just have to run a few back-tests and see for yourself, but I suspect that the GBP/USD definitely would have been profitable due to the large moves during 2016.
As for my own EAs, those have evolved with me and changed over time to suit my needs. Their functionality no longer resembles the earlier versions posted here anymore, so they cannot serve as a comparison for judging the current profitability of the older versions.
Regards,
Fernando (aka Carnino)