How much were you gaining in the trades each day. I estimate it should have been $500-$1,000.

Hedge trades are triggered sequentially based on your settings. It makes sense the you would have the first two in profits and the third in a loss as the market reversed.

My preferences?

Order size is too big. It does match up with the .01/$5000 minimum I've mentioned elsewhere - but that is a minimum. I would prefer $10,000 for that order size. With .1 I would want $100,000. $50K would call for .05.
Step at 5.
MaxDD is too tight - give the price room to roam before triggering hedge trades. $20,000 is good.
Hedge size is too small. I like it to equal the 100 pip exposure. So, with .1/5 pip step that is lot size of 2.
DD trailing stop pips is 30. I think that is plenty.
You don't mention DDstep. I would use 40 for pips, and at least $500 for DD$

Take care,
Bill

What is the minimum order size? Is this a mini account?

(The graphic is not available for veiwing yet)

Bill

thanks

i open a lot=0.01 this is the min

i understand this is a standard account

Bill-
Thank you for the lesson. I had only been running it a few days with the .1 lot size but you are correct that it was gaining in the $500 -$1000/day range. Clearly I had it set too big for the $50k demo. I've seen your comments elsewhere about people making it big with the aggressive setting but losing big too when it goes wrong.

Thanks for your comments re: hedging, too. I'll do the math and test some more.

Hi Bill, thank-you for your Expert Advisors.

I have been running Checkgrid for a few days in a demo account at IBFX, but it appears there have been no hedge trades initiated. Can you review my settings please?

Currency pair GPBUSD
Long Top 1.99
Long Bottom 1.89
Short Top 1.99
Short Bottom 1.89
Order Size 0.01
Step Size 5
Take Profit 6

MaxDrawDownLong 1250
MaxDrawDown Short 1250
HedgeLot Size 0.2
DrawDownStep 40
DrawDOwnPips 30
TrailingStop 30

Initial deposit $5000
Balance 5322
Equity 4494

Long Grid Drawdown 8
Short Grid Drawdown 820


There are many trades closed at profit of 0.60 (6 pips) and many trades pending with a T/P of 6 pips. There are no other trades closed or pending.

Would you expect some Hedge trades to minimize the ShortGrid Drawdown?


Additional question: Suppose I feel that GPBUSD is going higher, to at least 2.00. The lowest priced short is at 1.9370, would you recommend (consider) changing the grid range to say, 1.92 -2.02 ? Rather than shut down the grid if the upper border is breached?



Thank-you, Jack

You are welcome!

Not yet - you have the first hedge trade trigger set at 1250


Yup - just move the edges up and bracket the market.

So... anybody notice any movement in the GBPUSD lately?

Here is an opportunity for us to play "market experts" and pretend we know what the cable will do this next month. If you've only been trading long grids, you've made bucks! If you have a two-directional grid, your drawdown just skyrocketed. So now what?

Is this is a spike - like a short squeeze - and the market will drop back down in the next few weeks? If so, it would leave this long trail of open long orders in price territory that might not be seen again for years. Not the best idea. So, the move may be to shut down the long side of the grid and just trade the short side. In doing this, when/if the price falls, those short orders will be closed and not replaced, thus narrowing the grid. The small risk is loss of some daily profits as we have no long trades. If it appears to stay in this range after month end, restart the long grid. This is exactly what I did today.

How did I do it?

1. I reset the long grid top to 1.93 and saved the settings.
2. Next I re-opened the EA and closed all PENDING trades. The program will automatically repost the short pending orders.
3. Then, I let the market movement take out the open long orders from this morning's spike. They were not replaced.
4. ust before closing I closed all remaining LONG orders. This wiped out the few remaining long orders at about a $30 loss. In case the market spiked down early next week, I didn't want that to turn into a $2,000 drawdown. It was worth the small price.
5. Next, I restarted my grid again, running short side only.

If this continues to rocket upwards, keep an eye on your margin. The drawdown can mount fast. Be prepared to throw on larger hedge positions to lock down the grid and stop further drawdown. For example, if your TOTAL open short positions are 6 lots, you might pick a drawdown point and have the hedge trader add 6 lots with NO trailing stop, and make that point the edge of your grid. This freezes your grid. When/if the price returns to this range, it will go back to trading and you can unwind your hedge positions as appropriate.

Happy holidays all,
Bill

I've been trading for a short time, but I've never used an EA before. I've got Checkgrid 1.5.5 and Correlator 1.7. They both seem to be installed. They're listed under Expert Advisors in the Navigator window. Let's start with Checkgrid. I attached it to the GBP/USD chart and checked "Allow live trading". Is that ok? Now what? I read the manual but I didn't understand a lot of it. Will the default settings work or do I need to change anything?

Which chart should I attach Correlator to? Will the default settings work? Now what?

An EA runs locally so I have to have the software running with the chart up that the EA is attached to, right? Does that mean that only one EA can be running at a time because only one chart can be active at a time?

Thanks a lot.

Is the CheckGrind v1.6 expired as of the end of Nov? Was trying to run a demo and play with it, I've only watched it for a few hours on GBPUSD but I would think with as much as the market has moved it would have done something.

Yes, live trading is enabled, have my smiley in the right hand corner.

EA is attached..

settings:

Long/short Top: 2.0
long/short bottom: 1.85
(have tried other grids on both, just examples)
Order Size: 0.01
StepSize: 5
TP: 6

Have tried both with/without hedge.

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