Not very often durring normal markets.(once or twice a month from news) But forward testing at Christmas/new years opened max trades more than normal times.

Make sure the daily Atr on the pair is 90 or less. Optimal 40-60. If Daily Atr gets over 90 look to get it off that pair.

Dave

Thanks for sharing your experience! What do you mean by ATR? The difference between Open and Close of the day? Do you calculate it for several days?

Average True Range. meta 4 has in indicators folder.

This is the average daily range when placed on a daily chart. I am using a 3 peroid atr so I can see a change soon as it happens. But I just started looking at this for an idea of avoiding max trades getting opened more than desired.
Back testing on pairs that had ATR over 100 opened max trades alot. But on a pair that has an ATR of 40, max trades were very rarly opened.

Dave

hi Bluto,

Thank you for your valuable information,

You suggest the starting lot is 0.01, is that 1 Micro or 1 Nano Lot ?

Note : So far, I tried your original goblin ( the one with rsx = 17 ) on 1 hour time frame, on GBPUSD and USDJPY, and I put long & short for each pair with different Magic Number ( I learned from xxDavidxSxx ). All other settings are default.
The starting capital was 6k on IBFX mini, & starting lot size ( 0.02 or 2 Nano ).
So far, it seems safe & I love GOBLIN

Thank you very much for this EA, & looking for your new EA.

Thanks, Dave, now I've got it! One more question: I've opened an account at IBFX for 5k, dowloaded your parameters with TargetEquityToCloseAndReset 0.14, but BiPolar does not open any position, and the message appears every second: TargetEquity Level Reached - All Orders Closed. Have any idea why it happens?

I have experimented with adding a gridding component too. The idea was to have a partial hedge if the move goes towards the stop loss.
However, it hurts the profitability of the winners, so there's no clear advantage.

What's your motivation to add gridding? Your approach seems quite independent of the original Goblin strategy, which seems questionable to me. Note that gridding itself is very vulnerable to strong trends and can be more of a problem than a medicine regarding drawdown control.
Gridding is fine if there is a clear range, but I haven't seen yet an approach that deals with the situation when there is a strong breakout without generating big drawdowns.

close ibfx and open fxdd. Fxdd spreads stay tighter. And ibfx has alot of connection problems. Others are having problems with running on ibfx too with bipoler.

Dear forum visitors, I would appreciate some cooperation concerning improvements to the current Goblin (Bipolar) strategy.
Here are some areas/ideas, where I see some room for improvement:
- Entry signals: Most use very simple entry signals and rely on the martingale approach to "correct" wrong entries. However I have seen very different entry signals being used in the whole Goblin family. It would be worthwhile to put more focus on entries, since they define most of our "edge".
- Filters: How best to avoid low probability entries?
- Pip spacement: Some ideas concerning usage of ATR / volatility are already around.
- Risk control: According to me, too many people in the forum rely on the "don't use stops" approach. It can make much more sense to have a loser once in a while instead of trying to ride out every wrong signal until finally your account blows up. If risk can be clearly defined we can apply standard methods to optimize account growth. I don't like the "my account will have doubled before disaster strikes" attitude which doesn't properly handle risk.
- Money Management: Use winner/loser statistics and some standard method (e.g. Kelly) to optimize capital growth.

Anybody willing to add his few cents of knowledge?

Dave, FXDD does not allow to trade 0.01 lot, am I wrong? Or I need to start from 0.1 lot, therefore the account must be 50k?

hi guys im new with this thread could you guys send me the best version and the setting of the EA,i would like to try...thnx a lot guys