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I attached your EA yesterday but even with the huge drop on the GBP/USD it did not open a SELL order? I am not a coder but if someone could get this ea to sell as well it could a sure winner
I too have other EA results intermingled with Bliksem but let me summarize my situation. I attached the EA to GBP/USD on June 29. It has only opened buy orders during the entire time frame (up trend).
The demo account started with $8,000. By July 3 I was up +$4,000. Then I was down a couple of hundred, up $1200, down a thousand until July 11/12 when it closed up another +$12,000. At one point during this time I was up, equity wise to around $33,000 (from $8,000). I didn't close anything manually because I wanted to see what the EA did. The trades during this sequence closed out so that my balance and equity were at $29,000. Another $1,500 up on July 12. Then July 12 through July 17 down $2,700. Then on July 18 about $7,000 was lost in closed trades.
The point of all this is that 1.) this EA has worked very well during this trend (I have been hoping for a plateau and reverse to see how it reacts) and 2.) this EA, as is, is incredibly powerful--both positive and negative. I started with lots of .1. I would definitely start with less if I ever decided to go live.
Kudos to the developer of this EA for the interesting approach and for sharing.
Hi Saintmo
Thanks and you are welcome. My apologies to everyone for not replying to this thread sooner, but I have been tied up with some personal matters, but we are back to normal now.
One thing that is glaringly obvious, and has been picked up by a bunch of people, is the exit strategy.
I have worked for over a year now to try and get the entry strategy to a point where it can be left to run 100% automatically no matter what the trend is doing. I think I have accomplished this fairly well, it is now time to pay some attention to the exit strategy and for this we need a decent coder, so any and all suggestions welcome.
(If there is a coder on board, thanks you, please do NOT be cross with me for not noticing yet, I am only at page 5 of the posts and still catching up)
Well, this evening (Sydney time) Bliksem capitulated to the 100 pip drop of the EUR/USD.
Lost 75% of the equity. The last few orders are way too big. The last 2 trades lost $2000 alone.
Back to the drawing board.
Did not open any counter trades. I put on the board USD/CHF as that has a downward trend, but no trade at all. I wanted to see whether the EA opens any sell orders. Nothing so far.
In the last 12 month I have tested at least 50 different EAs. I have 12 EAs running constantly all the time on my Notebook. None of them are safe and making constant profits so far. Sooner or later they all blow the account.
We might have to concede defeat with the EAs. There is no EA which you can just set and forget. At least it is not invented just yet.
Lets keep working on it.
nubika
Hi Nubika
I'm sorry, but I have to disagree with you, this entry strategy, I think anyway, is as near as perfect to any counter trend entry system that I know, in fact I do not know a better one.
There is always going to be the reversal that kills counter trend strategies, and the only reason that they do get killed is generally because people are greedy and do not cut their losses.
Now you seem to have been having a lot of fun with the EA and some good success so I'd really like your opinion on the following two idea, which are on my T0-Do list and I may as well bring them to the table now.
1) Take profit based on equity gain.
By this I mean that there are many times when the EA roars into a siutation where equity is way above balance and then it falters and looses a huge amount of the equity and the balance is therefore compromised.
I would like to see an addition to the EA whereby the minut the equity exceedes the balance by 5%, 15% or 30%, whatever suits the end user, that the EA then does a split and closes that profit.
2) Close alternate Trades with a TP.
The other suggestion that I have been given is to close every second trade as soon they are proffitable by X amount, and let the others run, but reduce the Trailing Stop value for the bigger trades so that they do not loose everything they gain on a reversal.
Suggestions and any other options would be most welcome.
But please, if anyone is coding this, DONT, PLEASE, DO NOT mess with the entry strategy, it works and until you have tested another entry for about a year and can prove to me that it is better, leave this one as it is, thanks.
any good settings for this day situation??? when EUR/USD, gbp/usd is downward trend....
and KaMpeR... this EA just buy orders???? couse i never seen sell order...
thks
Guys, let me explain what is happening here with the order situation.
I am a manual trader, and by choice I trade H4 and D1 setups mostly. I do not mind only getting 1 trade a week because I know it's going to give me 500 pips or more, so I wait and I watch for a good setup to enter the market.
This EA has been built by myself with the same patience when it looks for entries, they are few and far between. These last 3 or 4 weeks have been exceptional for this EA because the trend has been good and pretty steady.
I want you to now look at what the EA is doing now that the trend has gone against us, check your statements, you've lost money, or have you?
Point is the EA looks for a really strong trend before it starts to trade so if it's trading long, then it is going to be a damned long time before it takes any short trades and the trend is going to have to change direction gairly radically for this to happen.
You will find that many people will give up with this EA because it does not trade enough, well that is just plain stupidm believe me, this EA trades plenty and it will often not trade for a month at a time if the market is choppy.
Now I don't know about anyone else, but I'd rather finish the month with the same money I started with than loose money purely because I went looking for trades that did not exist.
So please guys, be patient, this EA will take shorts, but only when it thinks the market is right to do so.
Please find attached version which allows user defined inputs.
The only addition is "No_TS_Stop_Loss". This is the SL setting you choose if you don't use a trailing stop.
I'm an inexperienced coder, it would be appreciated if someone would double check this.
Hi WNW
Thanks very much for the mods, I'll play with it a little and let you know what I think.
I would however prefer something along the lines of the post I made a little earlier? Do you know of any coder that may like to give us a hand here if you cannot manage this?
Bliksem is one of my favorite EA because of the very low drawdown. In the ranging market, I close the the trade manually to take small profit and let it ride on trend when it comes. Attached is the statement for a small $500 mini account shows the trade from July 2nd till now. It did open the first SELL position today after the the trend turn-over yesterday. The equity went up to $924 on July 24th and then turned down to $673 after the EUR$ turned over.
Hi Xcooper
Thank you for your patience and for testing without loosing patience, as you have just seen and pointed out, there is nothing wrong with the EA, it has been designed to take trades only when it has an 85% chance or more of completing the trade succesfully. So it will happily trade in both directions, but only when the trend allows.
If people now start getting impatient and then force the EA to trade more often, then I have wasted my time bringing this EA to this forum as it will end up like most of the other counter trend systems, in the garbage.
The problems left to resolve are as you have correctly pointed out are, banking the equity before it reverses on you and applying some kind of exit to profitable trades at the first signs of a reversal so that profits are not lost.
Thank you most sincerely for your diligence and patience.
Wayne
I attached your EA yesterday but even with the huge drop on the GBP/USD it did not open a SELL order? I am not a coder but if someone could get this ea to sell as well it could a sure winner
Hi Hoosain
It will sell when it is ready and the trend is right, do not rush it, please.
Point taken and many thanks to you for taking the time to respond to the various questions. I have a much better understanding now of how bliksem works. Thanks once again
Linear Mode
