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Hi Bernard. You really worked hard. Thanks for your great work
Hi Bernard,
1. Yes, I totally agree with you that working on daily chart, the profit and loss potential is much more than on M15 and M30. It's up to the users/traders who decide how much he/she is willing to suffer a loss in case such thing happens in future.
You can have 2 versions: 1 is used for intraday trading, and used on M15 or
M30 (I think H1 can catch the strongest trend for intraday, while M15 can sometimes catch FALSE Breakout); and 2 is used for long-term trading, and used on H4 or Daily.
So, please keep up the testing on daily chart. I am supporting you mentally.
If you need anything to forward-test the version used on daily chart, I am willing to do it. Please send me that version, and instructions.
2. 4 majors: I also quite agree with you that for the first final version, Excalibur should be limitedly used for 4 major pairs, and that's fine. Along the way, we will improve, and use it on other pairs as well.
3. I just have one more idea for your consideration: Is it possible to have 3 trades, but not at the same price, but each trade will have around 20 - 30 pips away from another.
For example, if first trade buys eurusd at 1.2620, then, second trade buys at 1.2640/1.2650, and third trade at 1.2660/1.2670.
The logic behind this is: 1st trade is used to test if it is the real or false breakout. If it is false breakout, then we only have 1 losing trade (first trade). If it is a real breakout, then, 2nd and 3rd pending trades will be hit afterwards, and the trend will run into direction of the 1st, 2nd, 3rd trades.
Exit strategies will be based on your own exit rule/on indicator's signal to exit all 3 trades.
When the indicator signals to exit, then all 3 trades will exit, and 1st trade will have most profit, followed by 2nd trade, and 3rd trade will have the least profit.
Of course, this rule will make us lose some portion of the profit, but at the same time, it can help us to avoid false breakout caused by the market indecision.
This rule, I think, is helpful if we use Excalibur EA on 4h or daily chart, but if then, 40 - 50 pips away from 1st trade, 2nd trade, and 3rd trade is better to avoid false breakout / marker volatility exhaustion.
This rule is especially very good if used on the strong volatile pairs such as: Gbpjpy, Eurjpy, and Gbpusd.
Regarding on your Daily Chart setting with 300 SL. That will need high deposit account say 10K. Though TP may go up to 900.
For small trader like me, it thrill me to see how a 1k account can grow and grow. Consistency and constant TP.
Just my 2 cent thoughts. Nevertheless keep up the good work!
Spot
Spot
You are correct in one sense about the 300 pips stoploss, but we have to remember that once we hit a profit, Excalibur will set the stoploss to a breakeven, of our entry point and the original 300 pips stoploss is eliminated. The traling stop then goes into effect to control the price swings and as long as we continue the trend, then the break even is moved, in our favor and controls what profit, if any, we capture if there is a reversal.
Currently I am working with a trailing stop of 100 pips on the daily chart, since the swings can go that far, even if the trend is in our favor.
Personally I like the daily charts more, since the profit factor is larger, if we are in a winning situation. More testing before we can make a good decision on this one.
Also on a mini or micro amount a 300 pips stoploss is not all that much of a risk as long as we do do not have 10 currencies trading. I have seen on the daily charts that only around one to three currencies send a order signal and on a mini account we are only risking a small amount here remembering that the stoploss will adjust itself.
Thank again and your input as always is appreciated. Keep up the good work here.
To Success
Bernard
__________________
" Those that say it can not be done should leave those that are doing it alone "
1. Yes, I totally agree with you that working on daily chart, the profit and loss potential is much more than on M15 and M30. It's up to the users/traders who decide how much he/she is willing to suffer a loss in case such thing happens in future.
You can have 2 versions: 1 is used for intraday trading, and used on M15 or
M30 (I think H1 can catch the strongest trend for intraday, while M15 can sometimes catch FALSE Breakout); and 2 is used for long-term trading, and used on H4 or Daily.
So, please keep up the testing on daily chart. I am supporting you mentally.
If you need anything to forward-test the version used on daily chart, I am willing to do it. Please send me that version, and instructions.
2. 4 majors: I also quite agree with you that for the first final version, Excalibur should be limitedly used for 4 major pairs, and that's fine. Along the way, we will improve, and use it on other pairs as well.
3. I just have one more idea for your consideration: Is it possible to have 3 trades, but not at the same price, but each trade will have around 20 - 30 pips away from another.
For example, if first trade buys eurusd at 1.2620, then, second trade buys at 1.2640/1.2650, and third trade at 1.2660/1.2670.
The logic behind this is: 1st trade is used to test if it is the real or false breakout. If it is false breakout, then we only have 1 losing trade (first trade). If it is a real breakout, then, 2nd and 3rd pending trades will be hit afterwards, and the trend will run into direction of the 1st, 2nd, 3rd trades.
Exit strategies will be based on your own exit rule/on indicator's signal to exit all 3 trades.
When the indicator signals to exit, then all 3 trades will exit, and 1st trade will have most profit, followed by 2nd trade, and 3rd trade will have the least profit.
Of course, this rule will make us lose some portion of the profit, but at the same time, it can help us to avoid false breakout caused by the market indecision.
This rule, I think, is helpful if we use Excalibur EA on 4h or daily chart, but if then, 40 - 50 pips away from 1st trade, 2nd trade, and 3rd trade is better to avoid false breakout / marker volatility exhaustion.
This rule is especially very good if used on the strong volatile pairs such as: Gbpjpy, Eurjpy, and Gbpusd.
I hope you will finish your final version soon.
Thanks and regards,
James
James
As usual you are always thinking . Thank you.
You mentioned:
3. I just have one more idea for your consideration: Is it possible to have 3 trades, but not at the same price, but each trade will have around 20 - 30 pips away from another.
Tired this feature on the original Excalibur V2 and it proved to be a disaster. What happened more often than not was that it took the first trade and made a profit, hit the second trade and sometimes made a profit, hit the third trade and reversed on us. We ended up losing more than we made. Your concept is good, and I have though about this issue and may program it in after the final version is released to see what it will do, for the daily charts only as I am sure it will not work properly on the 15 m and 30 m charts.
You mentioned:
When the indicator signals to exit.
Interesting as I have already programmed a different version that takes the exit signal from the indicator instead of a stop loss and it is working fine, but have not had time to test this one out properly.In theory, this should do better than the version we are working on here. Will release this different version sometime soon and a select few beta testers that I know can keep the different tests separate and apart from each other. Do not need to get too confused on different data here.
To Success
Bernard
__________________
" Those that say it can not be done should leave those that are doing it alone "
I have upload an update to Excalibur V3 to the first post here and to this page as well.
It is programmed for the EUR/USD 30 m chart only with a stoploss harcoded in.
Stoploss currently is 50 pips and has proved successful over the past few days live.
It has suffered a few losses, as expected, but the gains have more than made up for the losses. Grabbed 100 pip s this morning on the EUR/USD...nice
Please post you results weekly on this version. I have a few more settings I want to play with but would like this one tested as much as possible.
Am working on other currencies right now.
This version as the ability to turn off certain trading days. Not sure if it matters but thought it might be needed down the road.
To Success
Bernard
November 20 2008 Fixed the Crash problem. If your system did not crash please re install this fix anyway.
__________________
" Those that say it can not be done should leave those that are doing it alone "
Last edited by Pheniox; 10-01-2009 at 11:57 PM.
Reason: Wrong file
I'm going to set this up on another broker as I want to let the last 3 complete the week. I'm seeing quite a difference between brokers again and a full week of testing is more relevant to my own observations at the moment.
I notice you're back to the old naming convention again (remember the Demo/Beta discussion and iGoR's rants).
Cheers,
Wayne
__________________
" There are two times in life - right now, and too late! "
I'm going to set this up on another broker as I want to let the last 3 complete the week. I'm seeing quite a difference between brokers again and a full week of testing is more relevant to my own observations at the moment.
I notice you're back to the old naming convention again (remember the Demo/Beta discussion and iGoR's rants).
Cheers,
Wayne
Wayne
Nice of you to notice, The file inside has the proper naming convention...lol
Excalibur_V3_Demo_EUR_USD_30m
To Success
Bernard
__________________
" Those that say it can not be done should leave those that are doing it alone "
Hi Bernard. There is crash with this updated version. Please kindly check. Thanks
Hi Bernard,
Congratulations to your newly updated version to be used on Eurusd, m30.
I just downloaded this newly updated version, and installed it onto MT4 platform of Interbankfx(Build 218 version). However, it infomed me that there is a crash.
I installed the old version and tried, and there is no problem at all with the crash.
Why is there crash with this new version? Could you please kindly check it at your end?
By the way, I noticed that you have not put the "breakeven" option into this new version yet.
By the way, I would like to send you the newest report on my forward-testing of the beta version of Excalibur_V3 for your information.
The Audusd, after being changed to M15, made good profit now, without losses (3 trades x 43 pips + 3 trades x 5 pips = 144 pips)
However, Nzdusd, after being changed from D1 to M15, made some small losses (3 trades x 5 pips = 15 pips).
Right now, total profits in pips is: 467 pips (from Nov. 17 to Nov. 19, 2008, only 3 days). It's good enough, especially maximum drawdown is kept small, maintaining the account safe.
I love your great work. Please keep it up.
I am waiting for your further information on the crash issue of the newly updated version for Eurusd, M30.
Initial deposit in points 133
Total net profit -115
Gross profit 5146
Gross loss -5261
Profit factor 0.97814104
Expected payoff -0.261959
Absolute drawdown 133
Maximal drawdown 1722 (100%)
Relative drawdown 100% (1722)
Trades total 439
Short positions(won %) 265 (62.6415%)
Long positions(won %) 174 (63.2184%)
Profit trades (% of total) 276 (62.8702%)
Loss trades (% of total) 163 (37.1298%)
Largest profit trade 192
Largest loss trade -133
Average profit trade 18.64492754
Average loss trade -32.27607362
Average consecutive wins 5
Average consecutive losses 3
Maximum consecutive wins (profit in points) 27 (339)
Maximum consecutive losses (loss in points) 15 (-1004)
Maximal consecutive profit (count of wins) 820 (10)
Maximal consecutive loss (count of losses) -1004 (15)
Hope is all going well
Q on the update 14 Nov is the email address our personal email and how do you get it and how does excalibur receive alerts
Congratulations to your newly updated version to be used on Eurusd, m30.
I just downloaded this newly updated version, and installed it onto MT4 platform of Interbankfx(Build 218 version). However, it infomed me that there is a crash.
I installed the old version and tried, and there is no problem at all with the crash.
Why is there crash with this new version? Could you please kindly check it at your end?
By the way, I noticed that you have not put the "breakeven" option into this new version yet.
By the way, I would like to send you the newest report on my forward-testing of the beta version of Excalibur_V3 for your information.
The Audusd, after being changed to M15, made good profit now, without losses (3 trades x 43 pips + 3 trades x 5 pips = 144 pips)
However, Nzdusd, after being changed from D1 to M15, made some small losses (3 trades x 5 pips = 15 pips).
Right now, total profits in pips is: 467 pips (from Nov. 17 to Nov. 19, 2008, only 3 days). It's good enough, especially maximum drawdown is kept small, maintaining the account safe.
I love your great work. Please keep it up.
I am waiting for your further information on the crash issue of the newly updated version for Eurusd, M30.
Thanks and regards,
James
Morning James
Could not get it to crash on this end bit did manage to find an error in the script and hope this fixes the crash issue.
Bernard
__________________
" Those that say it can not be done should leave those that are doing it alone "
Linear Mode
