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I saw the details of your trades on your statement, you won big because goblin only long Euro and GBP during this period, they trade in the same drection of daily trend.
But during this period, at certain point 1h JRSX and 4hJVEL signal allowed openning short trades on Eur and GBP. If the EA was launched at that particular time, there is a risk of being caught in the wrong direction. So, why don't we just use daily trend as direction signal. Once the EA is launched, open the postion in the direction of daily trend immediately, and always keep opening trads in line with daily trend.
That's exactly what the next version of Goblin ("Goblin TF") is going to do. When a strong trend direction shift is detected, it will close existing positions and begin opening new ones in the new direction...immediately.
I have had exceptional results with Goblin EA running a $10,000 demo mini acct on FXDD, default settings as posted on 11/28/06. 1 H time frame with JVEL on 1 Hr also. The EA has run 24/7 (with it being started 2 hrs before the London open on 11/28) with the exception being that a storm took out my power about two hours before the close on Friday. From what I can tell, this did not have any effect on the trades after the outage.
With just 4 days of trading, the account is $120 short of doubling! Pretty amazing. None of those days had any significant draw downs...only two digits, while there were two wins on 3.2 lots of $1280. A brief review of the trades did not reveal any taken in the wrong direction, although I need to study this more. My float is - $167 with all trades in the right trend direction.
Please find posted my statements.
Thank you John for bringing the 1.5 progression and Maxtrades 13 idea to this thread, I think that could be a healthy addendum to demo test to potentially reduce drawdown. Golden
Quote:
Originally Posted by yeoeleven
There has been talk of using Fibonacci numbers to progress Goblin and I will be testing the latest version with that option next week.
Martingale has been used from the beginning of 10points 3.
There is a 1.5 progression that I have recently become aware of via the 10points 3 thread and this involves making Maxtrades13 or over the progression and I will be testing Goblin1 on a seperate platform with that option.
I have attached a gif showing the drawdowns compared so that we can see what is involved if the levels are breached
John
Last edited by goldensight; 12-02-2006 at 06:38 PM.
I have had exceptional results with Goblin EA running a $10,000 demo mini acct on FXDD, default settings as posted on 11/28/06. 1 H time frame with JVEL on 1 Hr also. The EA has run 24/7 (with it being started 2 hrs before the London open on 11/28) with the exception being that a storm took out my power about two hours before the close on Friday. From what I can tell, this did not have any effect on the trades after the outage.
With just 4 days of trading, the account is $120 short of doubling! Pretty amazing. None of those days had any significant draw downs...only two digits, while there were two wins on 3.2 lots of $1280. A brief review of the trades did not reveal any taken in the wrong direction, although I need to study this more. My float is - $167 with all trades in the right trend direction.
Please find posted my statements.
I don't see any settings posted on 11/28/06. What settings are you referring to? What is 2HR before London time in EST?
Thanks
That's exactly what the next version of Goblin ("Goblin TF") is going to do. When a strong trend direction shift is detected, it will close existing positions and begin opening new ones in the new direction...immediately.
bluo,
Great to hear that. And I want to explain my thought further clear.
1. I once mentioned, i hope martingale(or any pyramid method) plays a supporing role in goblin, with trend following playing the main role. I believe that's your intention as well. I think what decides their roles is the timeframe of direction signal. When we use shorter timeframe signal, like 1h JRSX, they definitely changes the direction more frequently than say daily JRSX. That means martingale will have more chance to take over. With daily signal, there is also a chance for martingale to take overl, when the daily trend direction changes. But obviously, this happens much less than 1h signal. Therefore trend following will take a dominant role in the majority of the time, if we follow daily trend, which lasts much longer.
2. As a suggestion for the detailed design of goblin, I think we can throw away 1h and 4h signals.(I am sorry, I know you put a lot of efforts there). On the upper left corner of the chart, we just need one line, 'dailytrend=up' or 'dailytrend=down'. The entry condition will be, once ea is launched, openning long position when the signal shows 'up', and vice versa.
3. I have some observation of daily trend, sometimes when daily trend changes its direction, the price still moves in a relatively tight range, or we can see some retracement. Therefore, I don't suggest cutting existing positions right away when a daily direction change is detected. Let's still use pyramid method(martingale or fibo progression) to deal with it, they are good at ranging market. Let's not give up their strength. I know they might fail to recover the loss, so we can set the maxtrade=7 or 8, to limit the risk. Of course we can try different settings or methods for optimiztion.
Goblin using the strength of daily trend signal(main role) and pyramid method(support role), i believe it will be extremely good, if not a holygrail.
Still, just some suggestion for you to consider, some points might be right, some might be wrong.
Also, extra to my previous post, I read somewhere of a Trailing TP which I guess if the price continues in the right direction then keep going until maybe a few pips in the wrong direction the sell instead of settling on a set TP price. Does Goblin have this Trailing TP option?
That's exactly what the next version of Goblin ("Goblin TF") is going to do. When a strong trend direction shift is detected, it will close existing positions and begin opening new ones in the new direction...immediately.
bluto
At the moment, I am really not sure what is the best thing to do with the existing positions, when daily trend changes its direction.
If we use daily trend signal, and positions are caught in the wrong direction in the transional period, maybe it is a good idea to close the existing postions.
Or, we let martingale take over at this time, by setting maxtrade at a limited number, as I previously suggested.
I think it needs more testing to find the best answer.
lots of good ideas. Let me point out one thing. If the daily trend is up and the ea takes long positions. Then the price stalls, and starts down. By the time the daily trend direction is turned to down the price can be as much as 100 pips against you. It takes a large move to register as a daily trend change. Good for filtering intraday wipsaw. But slow to indacate a trend change.
What about 4 hr time frame? 1 hr is way to choppy. But if the ea only took trades when all 3 time frames lined up in one direction? And if 4 hr turns against the daily then exit existing positions untill all 3 line up for new entry signal. From the moment all 3 turn the same way it should be good for at least 30 pips.
If all 3 are long, and 1,4 hr turn short, chances are the daily will soon follow.
just some more thoughts.
by the way last week testing I made 1k on aud/usd starting with 5 k account and max trades 10 and 30 pip targets. No s/l
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