Hello All, the EA takes a few small losses for a very big gains, over the past 3 years of back testing we have found this to be the most profitable method, sometimes you will give back your 50-75 pip profit, but you will see some winning trades that get 200-300 pips. The Ea version 1.3 allows you to setup your own settings but stick with this setup for a few months and you should get good results. Yes sometimes when you’re up 100 pips this may seem like a good place to exit however, our data has shown that its better to hold out for even more, and the stop loss will follow you down for hundreds of pips over 2-3 days. The SL is set about 40 pips below/above the fractal and will follow your trend over a few days. Here is the report, so you can see all trades over the past 12 months. Also, the fractals we found were the best way to ride profits and maximize profit. RSI was better for Short term trades and maybe in the future other time frames will take advantage of this but so far, the current EA the way it is has shown most profitable.
2 EU sell trades were opened yesteray am. Went slightly into the money then moved against us. Trades soared into negative territory by 800 pips each. Then after many megatrend color changes it went back our direction where they both went in the money by 300 pips each. Just a little while ago they were both closed by the bot for 10 pip gain and a 120 pip loss for a net loss of 110 pips. These two trades traveled a complete distance of over 1,100 pips each. I’m not sure how anyone could sit through a wild ride like that with a real account. It looks to me like the bot needs to move to BE sooner and then trail from there.
I will keep testing this bot as requested but wont let it near a live account…even my penny account as I don’t think the SL/TP functions of the bot are good yet.
I think there seems to be an error in the SL setting with the fractals. The SL I saw was many times set to a fractal many fractals back. The bot did not appear to be following the fractals down with our profit and they did not seem to take us out when the trade moved over 800 pips against us.
I am 100% behind you on the ride the fractals as they are very meaningful points in the market (a lot of people trade these naked)and good spots to set stops and follow the trend but this doesn’t appear to be working as programmed. There were several higher/highs and lower/lows fractals broken against us that never took us out of the trade.
wow, I wasn’t aware the market moved 800 pips(you may want to double check that) in the past 24 hrs. The SL are about 40 pips, above the fractals and they follow all the way down. Just let the EA do its thing for the next month so we can really see if the forward testing is the same as back-testing. Guys, we cant take this day by day, its more week by week and month by month.
The SL should be 45-50 pips, set once the EA enters a trade on the 5 min chart, so maybe reset MT4 or make sure one of the other bots you may have running isnt effecting this one.
My trade record showed a net loss at one point of 800 pips, however, I have a 5 digit broker. Does that mean it was actually 80 pips? Even at 80 pips the 40 pip SL should have kicked in as the sell trade traveled up through at least 2 fractals and two Megatrend color changes. It even traveled for some time closing above the MT line, all of which should be fouls in my book.
At this point I understand we are looking at the entries but we might as well start collecting data on how it behaves over all as I never trade a bot unless I know it’s dance moves like the back of my hand.
As of this post I am short EU M5 at 1.30928 at 17:05. Using a 4 digit count the SL appears to be set at 52 pips above the current fractal. TRADE ON!
I am using a 5 digit broker and I entered at sell trade at 1.30930 and was stopped out at 1.30929 for a sweet .1 of a pip. I am just wondering it the EA is set right for a 5 digit broker.
Does anybody have some good input as far as Back testing period in relation to step forward period. What is the preferred ratio, maybe a senior member would have a good resource available? My basic question is, if I back test for 6 months for the 5 minute chart, how long will this optimization be valid before it starts to deteriorate and need to be re-optimized. Whats is the ratio is is 4/1 Four month optimization will provide a set that is valid for approx 1 month. Or is it closer to 3/1, a 3 month back-test will provide a set that will be valid for 1 month. So far I have gone back since January and both 3 and 4 months of back testing have produced a set that is still quite profitable for the following month. For example, I optimized the 5 minute EUR/USD from Jan-March, picked the best set and applied it to April and it was very profitable. I did this for all of the months of 2010 using this 3/1 ratio. Am i missing anything? Should I back-test 2 months only for a 1 month Step Forward so the info. is more relevant to the current market condition? Our goal is to have the best, most consistent and most profitable optimized sets at the beginning of each month for the members here automatically loaded onto the server, for hassle free operation of the Premji_EA.
I am currently in a buy trade that is about 50 pips in profit and I noticed that the EA keeps changing the SL from 90 pips below entery to BE then to 200 pips below and it keeps doing this over and over again. Do you know why that is?
The EA was re optomized for January 2011, so i would close the current trade and restart MT4 with a blank chart and then drag the EA on the chart all over again.
