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I hate to say it but Piplite needs some help. Seems DrawDown just happens way too much. My risk is 10X smaller than what is recommended and I am setting on a Draw Down of 17%. The Max Draw Down is over 30%. Currently, I have been running the EA for 5 weeks now.
Seems it needs some directional (trend) guidance to only trade with the overall trend.
I am going to stop testing this EA until it is fixed.
Sorry
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Don't Let The Love of Money Send you to Hell™
I hate to say it but Piplite needs some help. Seems DrawDown just happens way too much. My risk is 10X smaller than what is recommended and I am setting on a Draw Down of 17%. The Max Draw Down is over 30%. Currently, I have been running the EA for 5 weeks now.
Seems it needs some directional (trend) guidance to only trade with the overall trend.
I am going to stop testing this EA until it is fixed.
Sorry
Unfortunately you're right.
Piplite is nothing more than a abortion of PipMaker.
hello Iron and to everyone. I congratulate you for this great EA . I just wanted to comment on that version 1.6 is perfect, but the 1.7 does not work on my broker, because only works with lots of 0.1 and above. As the legend goes that puts "starting lot size: 0.01" and that there is no way to change it. On the backtest it says "ordersend error 4051" and in the version 1.6 that is not happening. You could fix it?
(Sorry for my bad translation from English)
Thank you very much for sharing.
I'm sorry you feel that way Enforcer and Holy Guy. Several of your suggestions went into this EA but the bottom line is that this EA can go big into Draw Down. Enforcer, you once believed in this EA in the Pipmaker thread and made extremely positive contributions. Piplite is a whittled down version yet the logic, for the most part, remains the same except for MARSI Cross, time delay and trend window. Much of the dead weight code is gone though. However, even with these additions, they were not needed for this new version to trade at a significantly higher profit potential. Piplite needs margin to do its thing. That is the idea behind portion control.
In line with the creation of portion control, I believe that the coding of Piplite was not about trimming down its action by adding more and more filters but adding a "when" to trade function. There was no control as to when to trade with Piplite. There is now!
The old code with regard to pausing and quiting trading was antiquated by today's standard. Today, we have a trading session code in Piplite. This is a powerful addition to Piplite. You can set it to trade any period you desire. If you turn this feature on, it will not place trades on Sunday night or Friday (news and weekend protection) and will trade during the trade session you pick.
You can find the new version here along with a set file labeled GBPUSD m30 time throttle. I've attached a backtest to this post showing how powerful of an addition this is. It quite literally tripled it's profit by only trading half the time! Plus, it made it through EVERY market condition this year.
This addition will satisfy those who want to trade at a particular market time each day. This backtest was done for trading from 4 pm to 4 am EST. That's 1600 to 0400. My server, IBFX is 5 hours ahead of my time so the time that is set into the session time is 21 to 9. Half the exposure and triple the profits. Hmmm.
Finally, for those who don't like to see a drawdown, consider using portion control (or another EA). If you have a $2500 account, set the portion to 2 and Piplite will trade with only $1250. If you have 50% set for your EP, then you are only risking $625, 25% of your account. If you want to trade with Piplite, you must have the stomach for a large drawdown. I've recommended 50% here and 50% on the Blessing thread. Take note, however, the attached backtest NEVER got to 50%. It stayed within that window!
This is the first time I had to respond to a negative posting about Piplite so forgive some of the emotion. I believe by what we do here, we can help others. I believed in Pipmaker until is wiped out my account several times. The code was overtaxing and hard to manipulate and frankly, there was no protection in place for your hard earned money. That's why we have Piplite. The mantra is account protection. Thus, Equity Protection features, portion control and now time control make this a viable EA for the GBPUSD. Please help out by testing other pairs if at all possible! I hope I've helped at least one person here with this latest version.
If you want to trade Pipmaker on a broker than only allows .1 starting lots, you may want to consider a different broker or quite frankly, a different EA. Starting with .1 lots means you should have at least $25000 in your account! This is a Martingale EA, it works on margin and needs money to trade.
If you still want to trade .1 lots, either increase your risk till the base lots equals .1 or turn off money management and put .1 lots in the manual lot section of the input menu. Good Luck!
v/r
Quote:
Originally Posted by jumper
hello Iron and to everyone. I congratulate you for this great EA . I just wanted to comment on that version 1.6 is perfect, but the 1.7 does not work on my broker, because only works with lots of 0.1 and above. As the legend goes that puts "starting lot size: 0.01" and that there is no way to change it. On the backtest it says "ordersend error 4051" and in the version 1.6 that is not happening. You could fix it?
(Sorry for my bad translation from English)
Thank you very much for sharing.
I believe you are mistaken. The higher the Profit Factor, the better the results. Around 2 is outstanding. Around 1 is not so good. It's the drawdown that you want to keep low.
v/r
Quote:
Originally Posted by un6oitil
Hi iron,
I looked at the backtest of the new version (v1.8):
Please help. Which program files to open mq4 files? Thanks
Hi Iron,
My laptop just went wrong, and I had it re-installed totally.
Now, I just took my laptop home, but I could not download or open the files ending in "mq4", "exe4", and ".set" files. This means that my laptop lack some softwares or program files to understand these files "mq4", "exe4" and ".set".
Could you please kindly tell me which softwares or program files I should install into my laptop so that I can download the files "mq4", "exe4" and ".set" ? Please tell me the download links of these program files.
This is not a "catch all" EA. The original concept of Pipmaker and now Piplite was not for the EURUSD. Piplite works best on GBPUSD and always has. Prior pairs that worked were EURCHF, EURGBP, GBPCHF and CHFJPY. Recent updates to Piplite have not allow complete backtests on all pairs therefore the GBPUSD was "tweaked" first.
I will do my best to backtest on these pairs when I get the time to do so. With several projects and a new trading company, it's becoming tough to keep up with all the new variations of Piplite.
Linear Mode
