EA generating 1-2%/per day - Page 6

Muddyguy · #51 (**permalink**) 09-28-2006, 11:56 PM

Hi,

Please check post #48 - "the market is like a river..."

Unfortunately, there is no optimum. You need to evaluate a number of datum and your personal preferences.

Which pair are you trading?
Trending or ranging?
Volatile?
How big is your account?
What is your risk tolerance?
Etc...

I will share my personal preferences and you can extrapolate from there. Forward testing is exactly the right way to get a feel for this!

I set my hedge size to equal the cumulative lot size in 100 pips. I am trading .01 at 5 pip steps, so my hedge size is .2.

I have my max drawdown at $2,500 because I don't want it to trigger until extreme moves are made.

I have my drawdown step at $100. Each time the max drawdown is hit, it moves the step for the next hit $100 farther away. Remember, this is related to order and step size.

I have my drawdown pips set at 30 - it must move at least 30 pips before another hedge is placed.

I have my trailing stop at 30. That seems to give me a pretty good chance of making money on the hedge and not cause too much pain if it turns back immediately and stops out the hedge.

FYI - I base my trade size on whatever will produce about 1%/day. I am earning around 1.4%/day this month in a real full size account. In this way it seems that I have plenty of cash/margin to handle any dramatic moves when I need the margin to execute hedge trades.

Finally, I seem to like the GBPUSD the best for this. Plenty of action, low interest and pip values in nice round numbers... To repeat myself, I like a wide two-directional grid. When I do that, most of my job is to keep the electricity bill paid so the computer doesn't stop...

Have fun testing this,
Bill

Muddyguy · #52 (**permalink**) 10-11-2006, 04:06 PM

Hi all,

I have new versions attached and in my yahoo group.

CheckGrid - grid "scalping" is now automatic. You can set the grid to close out at a predermined profit value. At that point it can either shut down or restart a new grid automatically. This has been running very, very profitably in the last week in my tests. I don't have enough data to put a number on it yet.

Correlator - mostly minor updates and tweaking.

Both run through December 1st and will be updated again before then.

Take care,
Bill

che · #53 (**permalink**) 10-11-2006, 05:30 PM

THANKS

so please can you give the best settings for the the best pair?

Muddyguy · #54 (**permalink**) 10-12-2006, 01:08 AM

Hi,

Please read post #48! There are no "best" settings. Those will constantly change due to market changes and your personal goals. Run the program, read the FAQ and learn what different settings will do, then make your own decisions. If I could carve a "best" number in stone and hand it out, I would!

I have already posted my personal settings preferences in this thread. But, I have users with wildly different ideas as to what settings are "best" yet are still successful.

(Also, it would help if I knew if you were asking about the correlator or the CheckGrid.)

Take care,
Bill

coolhand · #55 (**permalink**) 10-12-2006, 10:46 PM

Hey Bill. I wanted to post my results with checkgridv1.4. I had been toying with a grid system on my small live oanda account, but it was tough to keep up manually. I had been studying the settings and decided to set this up on my alpari demo account, gbp/usd, m15 chart. You don't mention anywhere in the docs about what timeframe to use. Does it make a difference? I let it run for for the last 24 hours. So far it has closed 99 orders and I have 17 open. If I closed all open orders right now and restarted the grid I would hit your target of 1.4% increase in my balance. As it is now, I'm at +3.97%. I think I'll let this baby run for a while and see what happens. I am trying v1.5 on another account but just started it today so no results yet.

In your experince would it be better to close some lingering open orders or just wait and let the hedge function cover them?

Muddyguy · #56 (**permalink**) 10-12-2006, 11:42 PM

Hey cool, Coolhand!,

Time frame is irrelevant. It works on movement with no indicators at all. I use 15 minutes as that gives me a nice snapshot of the night's trading when I come downstairs in the morning. I can see at a glance from across the room if it has been "busy" and which direction it went.

The primary difference between v1.4/v1.5 is the ability to set an automatic TP value where the grid will shut down and book the gains. This is very useful for the grid scalpers among us. I have one guy who is making 20% per DAY in a real account with this approach. I wrote the auto take profit feature for him as he was running the calculations manually and closing each grid at a profit level each day.

But, I find that his level of leverage is way, way to high for my personal preferences. His exposure is 50x higher than mine. If things go badly for him, they could be really bad. I am also trading for a small group, and am not willing to take that much of a risk with their money.

With my personal preferences wanting a long term wide bi-directional grid, I would let those lingering orders sit. I view this as buying a business and don't want to jump in and out every day. I want to grind out a steady profit for months. 30%+ per month is nothing to turn up one's nose at!

But...I must admit, 20%/day with grid scalping is very, very tempting. As Homer wrote:

"First you will come to the Sirens who enchant all who come near them. If any one unwarily draws in too close and hears the singing of the Sirens, his wife and children will never welcome him home again, for they sit in a green field and warble him to death with the sweetness of their song. There is a great heap of dead men's bones lying all around, with the flesh still rotting off them. Therefore pass these Sirens by, and stop your men's ears with wax that none of them may hear; but if you like you can listen yourself, for you may get the men to bind you as you stand upright on a cross-piece half way up the mast, and they must lash the rope's ends to the mast itself, that you may have the pleasure of listening. If you beg and pray the men to unloose you, then they must bind you faster."

Now I'm quoting the classics to Forex traders... I wonder what kind of response THAT will generate!

Take care,
Bill

StanP · #57 (**permalink**) 10-13-2006, 02:37 AM

Hello Bill,

I am having a problem ..Alert window pops up all the time saying:
"GBPUSD CheckGrid grid has been suspended"
Please advise...

Regards

StanP

Muddyguy · #58 (**permalink**) 10-13-2006, 03:04 AM

Hi,

This should only appear when you have directed the program to close open or pending orders, or have directed it to close the grid if the price moves out of your grid range. The purpose of suspending the grid is to wait until you tell it what to do next.

So, if you have directed it to close orders, simply tell it what to do next.

Of, if if the price is out of grid range, either turn off "close out of grid" or make sure your grid surrounds the current price.

Hope this helps,
Bill

bradman · #59 (**permalink**) 10-13-2006, 06:05 AM

How do i put the exe.4 files into Mlq4 language, so i can click on your zip files straight into Metaquotes language editor?

Muddyguy · #60 (**permalink**) 10-13-2006, 05:50 PM

Quote:

Originally Posted by bradman

How do i put the exe.4 files into Mlq4 language, so i can click on your zip files straight into Metaquotes language editor?

I don't have zip files posted! Read the FAQ! Drop the robots in the Experts folder and fire them up. These demos run for free.

If you want to use a language editor to modify the code, you can't. I don't post the source code. This thread is in the commercial forum, remember? I sell these robots.

It is tough enough to provide answers for what I write myself, but it is impossible when people ask me for help with code someone else has "tweaked" without understanding the underlying concepts of these two trading systems.

Take care,
Bill