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I guess nobody likes the idea because I could get any comments?! Maybe it's already been done.
i ve been using this kind of EA with mixed results. I ve read most of this thread and blessing ea original thread. There s something about this EA i dont understand i d like someone could explain to me.
Why does it hove 3 differents GridSet and TP? i tried to run on Demo and visual mode on strategy builder and still cant get the idea
Hope someone can answer, thanks
Hi JBear,
Unfortunately, the whole concept of this EA is to make minimal profits while getting into major drawdowns. That's why most people don't use this EA on a real account (being a martingale type of strategy). What I'm suggesting is increasing the amount of lots towards the direction of the trend instead of keeping the lots at a minimal of .1 throughout the whole trend; believe me or not, this minimizes the drawdown tremendously. Hope that makes sense. If not, please explain why you think it doesn't.
Karlo.
Quote:
Originally Posted by JBear
Hi Karlo
You might need to redo your maths again. I am new to this forum also but I am guessing that this is probably why no one is answering you
Because you continue to sell while taking profits you are compounding a negative giving you major losses.
Supposing that you have a B/S margin of 10 Pips then your example alone suggests a loss of 180 Pips * $value
I have to agree with Karlo. Blessing 2 is a great EA but with constant fear of blowing up account. I have blown up many demo accounts while forward testing this EA.
Imagine EURUSD with step 10, TP 10, you can reach at level 10-12 quickly without any retracement, which mean the EA will open 20.48 lots (level 11, start with 0.02 , multiplier=2 )
With Karlo's suggestion (or with a bit of tweaking), we can conquest the fear of blowing up account by minimizing draw down while making huge pips 100% profit.
Quote:
Originally Posted by karlorihoo
Hi JBear,
Unfortunately, the whole concept of this EA is to make minimal profits while getting into major drawdowns. That's why most people don't use this EA on a real account (being a martingale type of strategy). What I'm suggesting is increasing the amount of lots towards the direction of the trend instead of keeping the lots at a minimal of .1 throughout the whole trend; believe me or not, this minimizes the drawdown tremendously. Hope that makes sense. If not, please explain why you think it doesn't.
I will try to put to paper what I think you are saying and why I dont think it can work
Regards
JBEAR
Quote:
Originally Posted by karlorihoo
Hi JBear,
Unfortunately, the whole concept of this EA is to make minimal profits while getting into major drawdowns. That's why most people don't use this EA on a real account (being a martingale type of strategy). What I'm suggesting is increasing the amount of lots towards the direction of the trend instead of keeping the lots at a minimal of .1 throughout the whole trend; believe me or not, this minimizes the drawdown tremendously. Hope that makes sense. If not, please explain why you think it doesn't.
Karlo.
__________________
Great Wealth comes to those who experience trends; Great expense to those who try and predict them.
Hi JBear,
You're almost correct except for the one small thing that makes this EA work. The second the market turns around, the biggest order placed against the trend hits take profit and covers all the other orders. You never really get out of your losing trades until the market turns around and you TP which closes all losing orders. If I have time, I will make a document explaining this.
Regards,
Karlo.
Quote:
Originally Posted by JBear
Hi Karlo
I pressed the wrong quote and dont know how to delete it so I will try to explain on this one
Open Long Close Long Bal
0.1 0.1 0.1
0.1 0.1 0.2
0.2 0.2 0.4
0.4 0.4 0.8
Bal Profit 1.5
Open Short Close Short Bal
0.1 0 -0.1
0.1 + 0.1 0 -0.2
0.1 + 0.1 + 0.2 0 -0.4
0.1 + 0.1 + 0.2 + 0.4 0 -0.8
0.1 + 0.1 + 0.2 + 0.4 + 0.8 0 -1.6
Bal Profit -3.1
Although I didn't program Blessing, I did change the code slightly to allow it to trade down to microlot much better. I've running it on several different demos and it's been most profitable. Yesterday I tweaked the set files to keep the total trades out down to a much better level.
I've found that the only true way to use Blessing is on and account size larger than $5000. It's a hedging EA and need room and capital to breathe and run with. I've attached the set files that are working for me. I have not lost with this EA in two months.
Thanks Karlo
Linear Mode
