The "SET IT AND FORGET IT" EA

[davdkh]

You need to change the magic numbers for each pair. You did it right, 10000, 20000,30000 etc. What happened to me was the magic numbers were not changed so since my Add Orders = True and my Max Orders = 3 after it opened 3 trades it would not open anymore on any pair because the magic number was the same for all pairs. If I had set the magic numbers to 10000,20000,30000,40000 etc it would have mirrored the Sell orders the demo account placed for EUR/JPY and offset the previous Sell order for EUR/JPY earlier. Basically with different magic numbers the EA will treat each pair seperatley, with the same magic number it tracks all pairs together, hense only 3 max orders at a time for all pairs instead of 3 max orders per pair.

okay, sounds great

at the moment the EA had opend two positions, both at USDJPY and they are both in negative with around 20 pips :s

I think it made two positions because I first started it, then stopped it, changed the magic numbers, and then started it again… :s

which positions do you have open now and when did they open?

[riggsrepair]

okay, sounds great

at the moment the EA had opend two positions, both at USDJPY and they are both in negative with around 20 pips :s

I think it made two positions because I first started it, then stopped it, changed the magic numbers, and then started it again… :s

which positions do you have open now and when did they open?

[U]Demo Account[/U]

On my live account I have 3 positions open:

2008.12.08 08:00 sell .01 eur/jpy
2008.12.08 08:00 sell .01 aud/usd
2008.12.08 08:00 sell .01 eur/usd

[U]Demo[/U]

All 2008.12.08
00:57 sell usd/chf
04:00 sell aud/nzd
12:00 sell eur/usd
12:00 sell aud/usd
12:00 sell eur/usd
12:00 sell nzd/usd
12:00 sell nzd/usd
12:00 sell nzd/usd
12:00 sell aud/usd
16:00 sell eur/jpy
16:00 sell eur/jpy

[bkr1969]

Should we be entering values for TP and SL or just let the trades manually close? If entering, what is the suggested range?

[riggsrepair]

Should we be entering values for TP and SL or just let the trades manually close? If entering, what is the suggested range?

The best results for this EA were to leave them blank. The EA will close the trades out.

[davdkh]

I can give an update now:

the usdjpy position has got -44 pips

and a new usdcad position has got approx 5 pips now…

I think the EA is to slow to spot a trend… Can you try to configure it so it become faster ?

[jado911]

Should we be entering values for TP and SL or just let the trades manually close? If entering, what is the suggested range?

Same Q, should we do that?

[riggsrepair]

I can give an update now:

the usdjpy position has got -44 pips

and a new usdcad position has got approx 5 pips now…

I think the EA is to slow to spot a trend… Can you try to configure it so it become faster ?

I dont have either one of those trades on my live account. I have to leave the house for awhile, I will check test it using MAtype= 1 when I get back.

extern double Mode_MA=0;
0=simple, 1=exponential, 2=smoothed, 3=linea weighted

[riggsrepair]

Same Q, should we do that?

I have both my Demo Account and Live account with no Sl or TP. You can change it if you want, I just never had much luck using them. With no SL or TP the EA will close out the trades.

[riggsrepair]

I can give an update now:

the usdjpy position has got -44 pips

and a new usdcad position has got approx 5 pips now…

I think the EA is to slow to spot a trend… Can you try to configure it so it become faster ?

Were these buy or sells?
If your USD/JPY was a sell you should be sittin pretty here soon.

[davdkh]

Were these buy or sells?
If your USD/JPY was a sell you should be sittin pretty here soon.

the usdjpy is a buy, and the usbcad is sell… :s

[therbcoe]

[U][/U]

Sounds like a good system.
Thanks for posting the trade results.

We have tremendous respect for traders who put thier money wear thier mouth is and actually post a screenshot. I’ve noticed a lot of folks on this site who refuse to post thier results and claim success just suddenly disappear after hitting one or two negative trades. Its like they just drop off the face of BP!

Keep up the good work.

[orpips]

This seems like a pretty easy strategy to backtest. I backtested it a few months and it had about a 50% profit. But over two years it was still only 50% profit, so basically it just goes up and down. Some pairs were 50% loss over the same two years. Am I missing something?

[riggsrepair]

This seems like a pretty easy strategy to backtest. I backtested it a few months and it had about a 50% profit. But over two years it was still only 50% profit, so basically it just goes up and down. Some pairs were 50% loss over the same two years. Am I missing something?

What was your backtesting quality? I don’t believe in backtesting but when I tried I got 90% quality on Oct, Nov, Dec but it went to N/A any further back. You can always try using the optimazation when backtesting to possibly get better results.

[riggsrepair]

I think I messed something up with my demo account. I looked at the journal and experts tab and it showed a lot of ping request timeouts, server busy and trade dispatcher errors. The demo account was up about $2,200 for a while so I am not sure why so many closed in a negative. I am looking into it right now. Here is a screen shot of my account history. Please disregard 12-5-08 ledger, this was from a different test and was left opened for the weekend.

Here is my live account trade status.

[swaraj]

I am overall running positive after a big negative trade. I tried using 0.5 lots on a 1:100 leverage account with 1000$ in. I used MM with that and somehow under the expert tab it would give error on every pair that "invalid lots amount for ordersend function. When i make the MM off everything is fine?

Riggsrepair do you have any insight in this?

Thanks:)

[riggsrepair]

I am overall running positive after a big negative trade. I tried using 0.5 lots on a 1:100 leverage account with 1000$ in. I used MM with that and somehow under the expert tab it would give error on every pair that "invalid lots amount for ordersend function. When i make the MM off everything is fine?

Riggsrepair do you have any insight in this?

Thanks:)

You shouldn’t use MM with a $1,000, your lot size is to big thats what giving you the errors.

Switch to .01 lots, MM= False

Assuming you have a mini account

[riggsrepair]

This seems like a pretty easy strategy to backtest. I backtested it a few months and it had about a 50% profit. But over two years it was still only 50% profit, so basically it just goes up and down. Some pairs were 50% loss over the same two years. Am I missing something?

Are you using the set file that I posted?
Reverse = True
MM = True if backtesting with 5k or more

[bcmfxtrader]

It does the trade at the close of the bar so it should have been a sell. Mine did the same thing on both accounts, the EA was right, Im up on both.

okay cool …i’ll just let it ripthen…

thanks !!

[riggsrepair]

Heres the open trades on the demo account

Live Account (testing tweaked settings)

[riggsrepair]

So far the EA has not closed any trades today on my live account. I am trying some other settings but it seems like maybe the best thing to do right now if you are trading live is to close manually then stop & start the EA so it doesnt look for the trades that were manually closed. If I would have done that on my demo account today I would have been way up.

Has anyone played with the settings and getting better results?