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I might continue that I'm especially interested in shorter term strategies because my EA is longer term
The solution is easy, since in your trading method you were able to find the long term trend and ride on it.
what you can do is convert your expert to work on the short term.
You have defined the trend which was the difficult part , so now instead of targeting more pips, use smaller TP , and open as many small trades as you can within the trend each one with smaller TP and you can add a money management to the lots that are opened , at the same time keep using the same exit used in the orginal method to exit any losing trade.
that way you have converted your long term expert into a scalper , that scalp in the direction of the trend
The solution is easy, since in your trading method you were able to find the long term trend and ride on it.
what you can do is convert your expert to work on the short term.
You have defined the trend which was the difficult part , so now instead of targeting more pips, use smaller TP , and open as many small trades as you can within the trend each one with smaller TP and you can add a money management to the lots that are opened , at the same time keep using the same exit used in the orginal method to exit any losing trade.
that way you have converted your long term expert into a scalper , that scalp in the direction of the trend
I have thought about that, never just had the time or energy to do that and had totally forgotten the whole idea. I have not been a big friend of short term strategies but thanks for pointing me to the right direction! In fact the idea I had was to use the long term trades as a trend filter and then use totally different methods on shorter timeframes (I actualy don't think same methods work on long and short timeframes).
This was so good advice that I here is one method that actually makes money. One algo inside the EA at the post is a modification of this method. It's quite strange how simple methods are almost always the best methods.
First of all I want to know that, anyone here do not like share his or her EA or SO?
I think if we share our EA and help to make money is better ?
What is your …..?
First of all I want to know that, anyone here do not like share his or her EA or SO?
I think if we share our EA and help to make money is better ?
What is your …..?
Your idea is very good. Go ahead and post your profitable EA.
__________________
Life is a Gamble. You win some. You lose some. And life goes on.
- Every monday add a buy stop at high of last 4 weeks
- SL for buy is last weeks low
- Every monday add a sell stop at low of last 4 weeks
- SL for sell is last weeks high
Then at every monday you trail all your positions by last weeks low (long) or last weeks high (short).
This is probably too slow for most of you but it really makes money (not many methods do) and it makes money on all majors (which is kind of a must for all methods that I use).
Hi mikkom,
Those are long term trades and the idea is good.
In the ACT2008 I have seen a friend who takes the monthly low as his SL , but with this method comes DD and its difficult to accept the DD on a live account, unless very small lots are being traded.
if you want quick cash, you can buy the pullback in up or down trend.
to locate the pullback some traders use the 5 EMA , or 9 MAVG, other use bear and bull candles , and to define the trend you can use simple PSAR or H-ASHI
if you target 7-10 pips you should fine, but the main problem is to stay away from " flat / choppy" market as most of the trend following indicators lose money in a flat market ex " PSAR or H-ASHI".
So if you were able to define active vs flat market, then at that moment you can enable your expert to scalp in the direction of the PSAR or ASHI and you buy the pullback of the candles
There are many methods to define active vs flat market , for example when the price hit the upper band of the bollinger band this is an active market , what we know is that the price will pullback , if the pullback happened in the direction of the PSAR or ASHI then buy/sell and target few pips ... simple !!!
As you can see designing an expert is not a big deal if you know the chart and indicators and have an idea what to do .... sounds simple but not really because because defining active vs falt market is not easy , and taking the exit " SL " on the trades is more difficult than the entry ... finally finding a broker that will allow you to scalp with your method is another problem
my advice if you have a trading method that works and makes you few pips here and there , then stick with it and don't be tempted to change your trading style because you saw a nice statement or screen shot or the web
my advice if you have a trading method that works and makes you few pips here and there , then stick with it and don't be tempted to change your trading style because you saw a nice statement or screen shot or the web
About drawdown.. Yes you should only trade with about 1-3% risk per trade (not account size, trade risk).
I'm more of a pragmatist than one method guy, if I can find a short term method that works I will be happy to use it. It just seems that most of them seem to be curve fitted and don't actually work. That's why you see different settings for different currencies at some experts (which is a big no no sign).
btw, I don't believe there is a way to know real time if we are in consolidation or trending market, the best way is to react to real time changes on price. All the methods I use are symmetrical - they work the same way with long and short and all trend filtering always makes the profit worse as makes trying to filter the consolidation.
If the statistical edge is high enough there is no need to trying out filter bad periods.
About drawdown.. Yes you should only trade with about 1-3% risk per trade (not account size, trade risk).
I'm more of a pragmatist than one method guy, if I can find a short term method that works I will be happy to use it. It just seems that most of them seem to be curve fitted and don't actually work. That's why you see different settings for different currencies at some experts (which is a big no no sign).
btw, I don't believe there is a way to know real time if we are in consolidation or trending market, the best way is to react to real time changes on price. All the methods I use are symmetrical - they work the same way with long and short and all trend filtering always makes the profit worse as makes trying to filter the consolidation.
If the statistical edge is high enough there is no need to trying out filter bad periods.
edit: by the way yeah, no indicators can make this EA more messy than it already is, see the pic - Feel free to reverse engineer the pic if you feel like it - Hard to believe that the mess below turns to curve like the one below (20 years beginning with 10k with proper mm)
- Hard to believe that the mess below turns to curve like the one below (20 years beginning with 10k with proper mm)
Man, I love your sense of humour.
Linear Mode
