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Thanx for saving me from all the trouble looking back to that post, John. Is is preciselly as I forsaw it.
Needless to say this EA is a very dangerous moster to let alone. I was wondering what kind of Money Management you plan on using with 10p3. Since your lot is wisely the minimun allowed by IBFX, I take you are not using any at all, but you sure are going to grow that...
I am using the Money Management plan with 10p3v0.02 an option provided with the EA and that is controlled by the Risk setting but even the smallest increase will double the exposure so if it kicks in I will probably change back to a lower Risk setting.
It is very dangerous but with the infrequent trading controlled by the indicator and the timed out non trading periods it is far less likely to get into trouble than the original versions which once started carried on indefinitely.
Also it is just an exercise not the main usage of my live account but with the .01 = 1c pips it was still able to gain over $12 by trading up to .27 and .81 three times each before closing. The higher the progression the greater the profit also the smaller number of pips needed to close but the more nervous for the live account.
I am using the Money Management plan with 10p3v0.02 an option provided with the EA and that is controlled by the Risk setting but even the smallest increase will double the exposure so if it kicks in I will probably change back to a lower Risk setting.
It is very dangerous but with the infrequent trading controlled by the indicator and the timed out non trading periods it is far less likely to get into trouble than the original versions which once started carried on indefinitely.
Also it is just an exercise not the main usage of my live account but with the .01 = 1c pips it was still able to gain over $12 by trading up to .27 and .81 three times each before closing. The higher the progression the greater the profit also the smaller number of pips needed to close but the more nervous for the live account.
John
Hi yeoeleven
What happens when a progression reach the time out non trading period with trades still open?
What happens when a progression reach the time out non trading period with trades still open?
Thanks
Hi Cross,
Any progression open at the start of the time restricted zone will be continued until successfully completed but the EA will not open another progression until the time zone has passed and the indicators permit.
Any progression open at the start of the time restricted zone will be continued until successfully completed but the EA will not open another progression until the time zone has passed and the indicators permit.
This is my first time posting on this thread. I am using Version 3 which is working well for me, however, I have tried to change the s/l (initital stop) to 55.0 (0 for trailing stop) which doesn't seem to be working. When the trade is placed, the s/l is 85. Is there some other parameter I need to adjust in order to change the s/l?
Regards,
Sam
__________________ "With God, Nothing is Impossible"
This is my first time posting on this thread. I am using Version 3 which is working well for me, however, I have tried to change the s/l (initital stop) to 55.0 (0 for trailing stop) which doesn't seem to be working. When the trade is placed, the s/l is 85. Is there some other parameter I need to adjust in order to change the s/l?
Regards,
Sam
Please find this is useful.
Quote:
Originally Posted by tururo
No problem. The way this EA works is to open a new trade when the loss gets to the value of the "Pips" setting (15). It does this until you have maxtrades open and will open no more. Once you get to maxtrades, if the price continues to go against you, your losses are unlimited. The modification sets the stop point at the place where the last trade would reach the 15 pip loss point + the value of initial stop. So, for each of the orders the stops would be as follows if Pips = 15 and InitialStop = 2, MaxTrades = 5:
Let's say your first trade sells at 1.2600
1st trade stop at 1.2600 + 75 + 2 = 1.2677
2nd trade opens at 1.2615
2nd trade stops at 1.2615 + 60 + 2 = 1.2677
3rd trade opens at 1.2630
3rd trade stop at 1.2630 + 45 + 2 = 1.2677
4th trade opens at 1.2645
4th trade stop at 1.2645 + 30 + 2 = 1.2677
5th trade opens at 1.2660
5th trade stop at 1.2660 + 15 + 2 = 1.2677
So when the price gets to 1.2677 all trades closed out at the stop loss. See yeoelevens earlier post for dollars example.
In practice the stops will vary by a few pips.
Regards
David
__________________
"All through time, people have basically acted and reacted the same way in the market as a result of: greed, fear, ignorance, and hope. That is why the numerical formations and patterns recur on a constant basis." - Jesse Lauriston Livermore
Here we go again my continued testing of this EA since 27th November when the account was $78 and now stands at $149.70.
There are a couple of items to discuss here after the last day's trading firstly the small account had insufficient funds to complete the next progression $2.43 but given time it was able to return to profitability and secondly my live account which had sufficient funds was able to close off very easily and even make another trade whilst the demo was still trying to close the progression.
I have added gifs showing the difference between the two accounts and also note that the live account actually lost money on the progression, this is due to slippage and the trade not closing all at the same price. When the unit has multiplied to that level only one pip in the closing can make the difference between profitability and loss.
All the information about the version and the set. file have been posted recently within the past several pages.
Here we go again my continued testing of this EA since 27th November when the account was $78 and now stands at $149.70.
There are a couple of items to discuss here after the last day's trading firstly the small account had insufficient funds to complete the next progression $2.43 but given time it was able to return to profitability and secondly my live account which had sufficient funds was able to close off very easily and even make another trade whilst the demo was still trying to close the progression.
I have added gifs showing the difference between the two accounts and also note that the live account actually lost money on the progression, this is due to slippage and the trade not closing all at the same price. When the unit has multiplied to that level only one pip in the closing can make the difference between profitability and loss.
All the information about the version and the set. file have been posted recently within the past several pages.
John
hi yeoeleven,
can i know how many pair u set up for this account?
Do u run this EA 24/5 or what?
I just started Forex this year and have been reading this thread ever since. I'm just at post #100 so I have a lot of catching up to do Occassionaly, I browsed through the last few post just to update myself of what's going on.
John, amazing results on your tests! I am quite amazed on how you managed to open a 2.43 lot with such a small capital. I would imagine on a EURUSD pair, you would need a Free Margin of around 3,600 to do that. What is the leverage that you are given?
I am quite nervous with your settings of Pips=5 and Multiplier=3. This is because last night, there was a pip drop of 60 pips in the EURUSD pair. I would imagine the EA would need to open 12 levels for this! But obviously, looking at your tests, this turn out otherwise. I guess a slight movement in the other direction is enough to close the whole trade group. Amazing. Dangerous, but still amazing.
I have been forward testing the original 10points_3 ver 0.02 for a couple of weeks with the following settings: MaxTrades=5, Pips=15, Lots=0.01, with a starting capital of 400. Unfortunately, when the drop goes more than 60 pips, the EA couldn't open a 5th trade at 0.16 lot because of insufficient funds [Not enough money!]. So how did your broker allow you to open a 2.43 lot with account balance of 140?
Anyway, a newbie question: When you open a live account, what is the typical leverage that the broker gives? I live in the UK and I wanted a micro account, so the obvious choice would be Alpari UK. Anyone has this account?
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