The Silent Sniper pre-release testing

candlesurfer · February 4, 2012, 4:59pm

I have been testing this EA for a little while, thought it to be a good moment at which to post my thoughts/ feedback etc.

I started off on H4 as I believe the higher the time frame the more reliable the trend. However, call it impatience but I didnt get a single trade for about two weeks, so dropped down to H1 instead.

I dont have a huge amount of time for analysis due to a busy life, but I chose one pair (GBP/JPY) to have a quick breakdown of the trades entered this last week.

The EA immediately started entering trades once I dropped down to H1. Over three days, it entered 10 trades. All the trades were in the same direction so there must be something in the parameters telling it the possibility of a long trend was quite high. The first 9 trades stopped out quite cheaply considering how many were entered. In total the loss on this pair for 9 losing trades was £11.51, or about 1.3% of my account.

Sounds like good money management but in my opinion that is a double edged sword. On average that is a stop loss of just 0.15% of account per trade. Far too tight IMHO.

My first thought is to loosen it off, to say 1%, but then again this EA is currently taking 3 or so trades a day, so if I had made that amendment my account could be down by as much as 9%. Looking in more detail though, with this much larger s/l the other trades wouldn’t have opened so actually may have all evened out.

In the end the bullish H1 trend came along as predicted by the EA, so trade 10 is currently £5.87 in profit, but the t/p is only at £10 so even if this is reached overall there will be a slight loss using current settings.

So, based on very little experience the EA seems to enter when it thinks a trend may begin, but is quite quick to get out again if this trend doesnt transpire. I think it may enter slightly too early but does seem to eventually pick the right direction. The issue so far is that as it gets out so quickly you hit multiple small stop losses before catching the trend. this means that the eventual winner has to offset several small losses.

I think therefore the way to go has to be a trailing stop at say .5 or .75 of account rather than the default v tight stop loss. I will be applying this and see if I can cancel the take profit to let the trend run as far as possible.

tradingshed · February 5, 2012, 1:31pm

As I am one of the testers, I thought I better also post my findings here.

Below are the results from a demo account.

Although my results have been negative so far, that is mainly also due to my settings and a few mistakes I have made. I did not have enough time to dedicate to optimize and test different settings.This EA is very simple and effective in its methodology and comes with many user defined settings. It would require a bit of playing around with them I guess.

What you do get though, thrown in the package, is superb and very responsive support. Aidy is a volcano of ideas and I cant help feeling that he will make sure profitability is consistently achieved. If anyone has read any of my posts on SmartFX you will know I place great value in having prompt access to the developers. With Silent Sniper you buy a potentially profitable EA and unrivaled help and support.

Aidy has just released a new version at the weekend with several improvements and I have already installed it. That should make a difference from Monday.

Still_learning · February 6, 2012, 9:03pm

Will be interesting to see how this one goes

delboud · February 7, 2012, 12:43am

I was interested in getting it but did something change? its been going down hill on the fxbook.

aidysproule · February 7, 2012, 10:19am

I have be doing quite alot of testing with other EAs on the live account, I have put v2 back on to the live account now.

tradingshed · February 7, 2012, 1:08pm

To any followers,

as a result of me stopping Fast Forex Millions, I will be moving the Silent Sniper to another demo account that I use for general testing. Therefore the original link on this thread will not work anymore. I post here the results up to now.

candlesurfer · February 7, 2012, 1:42pm

I think we are all using different settings, but for my set up I am going to loosen off the stop loss a bit as the defaults are a bit stifling.

Aidy - I am not sure if there is a setting to change when the EA enters / make it more conservative?

candlesurfer · February 7, 2012, 1:48pm

Link to myfxbook £1k demo account. running Smart FX as well so use custom analysis/magic numbers to filter these out.

GFXT System | Myfxbook

aidysproule · February 7, 2012, 3:13pm

I was using my real account to do some testing for other EAs which is why there is a big loss plus at the end of last week I put 0.1 lots on the EA rather than 0.1 lots and I closed them in a loss as I didn’t want it to blow my account. I have put The Silent Sniper v2 EA back until it today at 15:00GMT so you should see the account improving again, it’s aready taken 200pips this afternoon.

shanet · February 7, 2012, 6:26pm

Is it possible for you to open a demo account for just this ea without testing other things on it? I am highly interested but would like to be able to witness it in action.

delboud · February 8, 2012, 12:26am

I agree, I was completely sold until i saw it go down this month

aidysproule · February 8, 2012, 6:21am

Apologies for this guys. I will try and get a demo account setup on a VPS. IN the mean time you can do a custom analyis with a start date of the 7th Feb @ 00:00.

sandybeach · February 8, 2012, 5:14pm

Hi looks like a good EA, could we get this EA running on one demo account that is dedicated to this EA so we can see what happens?

It is just a but confusing with you running other EA’s on the account, just a bit tricky to figure out if the losses are your one or another EA

Thanks

aidysproule · February 9, 2012, 2:41am

Folks,

What I’m going to do is let the EA run on my live account for the rest of this week, then at the weekend I am going to setup a new account and put the EA on it and no other EAs will be on the account.

Apologies for testing the other EAs on that account and messing up the results on that account.

The account I setup at the weekend will be running the same settings as currently on my live account, 100EMA trailing stop with no TP. At time of writing this post the EA is sitting with 7 opens trades, all in profit totalling 301.6pips.

delboud · February 9, 2012, 2:43am

Have a few questions, sent you an email.

shanet · February 9, 2012, 7:00pm

Seems like many of the trades are going into profit and then being stopped out at a loss, perhaps changing the exit rules to lock up some profit once its there. I have been playing with making an ea based on this strategy myself.

aidysproule · February 9, 2012, 7:12pm

Hi Shanet,

The EA is setup to allow the trader to enter their own SL and TP based on their individual trading style, personally I let the trade open and have the dynamic stop loss follow the trade without setting the TP so when the trend runs and the stop loss follows, the profits are locked in and usually out weight the smaller losses. There is an option in the EA for the trader to enter a SL along with a trailing SL so this will lock in profits if they don’t prefer the dynamic SL.

shanet · February 9, 2012, 7:32pm

Thank you for the clarification aidy, user defined variables for exit is always good. I’m curious what settings you were using when you first posted the results. I completely agree on no take profit because this seems like a great way to catch trends.

sandybeach · February 10, 2012, 4:00am

Thanks Aidyspoule, much appreciated. Will be interesting to watch next week

aidysproule · February 11, 2012, 10:53am

Trying to get the new account setup with myfxbook but getting this error message - “Maintenance is being performed during which new accounts are not processed”

As soon as they’re finished it get the link posted here.