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I am using the daily timeframe except I made a few changes as described on the post right HERE
Basically, I took the EURUSD, GBPUSD and USDCHF and put them all on the H1 timeframe with timefilter ON. I think I am also going to put the USDCAD with the timefilter on because it does not trade much during the Asian session.
I am also using the last version that your created Profit Generator 2.4 that I reposted in Post 1 found HERE
If you don't mind, could you possible remove all previous version as I don't want everyone testing all these different versions. Basically, your version has all the rules of the original with a many more options that people can chose from. No reason to have the other versions around this thread.
Thanks for your continued support. The yen pairs caught the break with the breakout at the beginning of this Sunday's session, apparently related to the good performance of Japanese businesses. Another example why one should not pay any attention to news, but just let the system do its job.
I am using Nich's version 2 on 4 hour bars, with the following parameters:
extern int ID = 1234; // Change this number if running more than one EA
extern double lots=1.0;
extern bool MM = false; //Use Money Management or not
extern int Risk = 10; //percent of available margin to risk.
extern int stoploss=30,takeprofit=40;
extern bool UseClose=false;
extern int TSactivation=40,TrailPips=5;
extern int MaxTrades=1; //maximum number of trades open at a time
extern bool UseHourTrade = false;
extern int FromHourTrade = 7;
extern int ToHourTrade = 20;
extern int LongBar=15; // sets the minimum length of the bar
extern bool UseLastPeriodPerams=false;// uses the high and low from last period for calculation
extern int period=0; // leave this number as zero to use the period from the chart.
extern bool OneTradeperPeriod=false; //This will only allow one new trade per period.
extern bool DisablePeriodMGMT=false;
extern bool Alerts=false,AlertOnlyMode=false;
I am trading all the USD denominated pairs on IBfx along with GBPJPY and EURJPY. My first closed trade was Cable, and unfortunately it was a loser. Anyway, let us see how the events unfold. If the backtest results were in the ballpark, then we have a great product in our hands. Maybe the webmaster may think of moving it to the elite section.
You can probably see why I really like the D1 timeframe with this EA. I also tried the Weekly timeframe and it did not work too well so it probably is a bust.
I believe we need to stick with testing out the following timeframes:
M15
M30
H1
H4
Daily
Daily is currently my favorite as it appears so far to give good solid profits. Anybody else having success in their settings???
One problem I can see with using GBPJPY is the high spread cost. I am trying to set the trades with equal tp and sl levels to prevent curve fitting. It those numbers are robust, then they will work for most of the pairs for most of the time. However, with 8 pips of spread cost, it eats away the risk reward ratio.
I will let the current mix run for a while and then see how the pairs peform. I will then decide what is the right mix.
Thanks for your continued support. The yen pairs caught the break with the breakout at the beginning of this Sunday's session, apparently related to the good performance of Japanese businesses. Another example why one should not pay any attention to news, but just let the system do its job.
I am using Nich's version 2 on 4 hour bars, with the following parameters:
I am trading all the USD denominated pairs on IBfx along with GBPJPY and EURJPY. My first closed trade was Cable, and unfortunately it was a loser. Anyway, let us see how the events unfold. If the backtest results were in the ballpark, then we have a great product in our hands. Maybe the webmaster may think of moving it to the elite section.
Take care,
Maji
Thanks Maji for your support of this EA. I also tested on the H4 timeframe last week and the results were not good. For some reason, the EA works better on the H1 and D1 timeframes. Why question success???
You are correct, don't worry about news as this EA detects price movements and then capitalizes on them. Amazing to say the least. I wonder why somebody else did not discover it before?
I am not using money management as I want to figure all wins/losses with just 1 contract at a time.
However, has anyone else had any luck with this EA?? Anybody else testing out the money management option?
One problem I can see with using GBPJPY is the high spread cost. I am trying to set the trades with equal tp and sl levels to prevent curve fitting. It those numbers are robust, then they will work for most of the pairs for most of the time. However, with 8 pips of spread cost, it eats away the risk reward ratio.
I will let the current mix run for a while and then see how the pairs peform. I will then decide what is the right mix.
Maji
You are exactly correct on that. The currency pairs I chose were because they had a 5 pip or less spread except for the GBPJPY which has 8. I thought about leaving it out as if I would have removed it I would have reduced down my losses last week but on the other hand, overall, the pair made a profit so I thought I would continue to test it out.
However, I like that pair because it looks like it might be predictable with price movements better than other pairs. We need to continue to test to see how it all plays out.
If you notice according to my statement last week that the GBPJPY had the most losses than any currency pairs. 3 losses to 3 wins. The wins were more profitable than the losses so I kept it in but if I would have removed that pair and fixed the timeframe on the EURUSD and USDCHF then I would have almost eliminated every loss I had last week!!!
Again, more testing is required. I am glad you noticed that because nobody else had brought it up.
Another thing I noticed is that the three remaining trades that were open from last week were all JPY currency pairs. Two of them were in the wrong direction!!
This is why I would prefer to have an option to this EA to automatically close all trades at 21:00 GMT on Friday. You never know what kind of news can come out over the weekend and like we saw today, news did create a bullish market for the JPY and would have stopped out two out of the three trades.
Linear Mode
