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Originally Posted by xxDavidxSxx
Here is a years back test I did on Goblin.
Using euro$ 15m
30 TP
pips 10
no s/l
secure profit based on 30 pips per .1 lot used. So for .2 lots secure profit was 60.
max orders of 3.
and lot size of .2 for a 5k account.
the rest of the settings are default.
I am going to forward test it soon.
There was about 2 times durring the last year when the positions were held for about a month or mabe more. This happened when buy orders were placed near an extream high above 1.2900.
I would suggest adding an option to the settings for BUY only and SELL only. This way when it reaches an extream high(like now 1.2975) I would set it to sell only because its unlikely that the price will remain above 1.3000 for any peroid of time. But if a buy order is placed at this level the price can run all the way down to 1.1600 befor ever comming back to 1.3000.
So looking at long term charts and determining what the extreams are you can use buy and sell when price is near these extreams.
Dave
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Let me quote myself again so it don't get lost in the previous pages.
the above recomendation and close observation and managing of EA settings will be the key to staying away from too large of a move against you.
I do not recomend a s/l. I tried to use a s/l with poor results.
So many people want an EA that you can turn on and come back in a year and be rich.....this will never happen. You need to understand price structure, and movement, and be able to adjust settings according to the over all outlook.
This ea really does well as long as it don't buy near extream highs and sell near extream lows. EX: euro$....1.2900 and above for extream high, and 1.1600 and lower for extream lows.
Just look at the 1 year high and 1 year low for the extreams on other pairs.
This ea is ideal on euro$ when price is in the 1.1900-1.2700 range.
Also: Great job on the EA whoever made it. just add option for buy only and sell only is all I see it needing.
Dave