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is it correct to say that your system will "believe" that in any pair, for every 160 pips price movement in 1 direction there will be at least once a 20 pip retracement? and once this retracement is hit (or at any point within the 160 pip movement), all of the previously opened position that was in the direction of the retracement will be closed as well? those positions that were opened "correctly" in the underlying price direction will follow the TP of 20 pips?
at least the recent 300+ pip drop last week (within 3 hours) on the GBPJPY holds true.
looking at this strategy, everybody can agree that huge sudden move could kill the account if margin/equity available cannot sustain the increase of lots until getting retracement.
But it s useless to say that in case of a 1000 or 300 straight up move account will be dead.....
better check was has been the worst situation ever seen in the last 5 year.....and then check up to which level we should have gone to be able to sustain it.
So i invite all members believing that this system is too dangerous and will finally crash to show here the worst situation that they could find in the history of any currency
USDJPY in 1998 dropped 2600 pips in 3 days........ OUCH!
You made it very well.. could u show me the biggest lot ever opened.. as in statement.
here my backtest statement in E U H1
"Control points (based on the nearest less timeframe with fractal interpolation of 12 control points)" - Is not good enough for testing. The results will be too optimistic. You should have 1 min history and use "every tick" option. Or just run the EA on 1 min time frame - on open prices.
To see the biggest lot: go to results tab and click on heading Lots and all orders will be sorted by size from smallest to biggest. So you'll be able to see all scary big lots. If you open the graph from tab settings then double click on those big lot orders will bring you to the place in history when it happened.
"Control points (based on the nearest less timeframe with fractal interpolation of 12 control points)" - Is not good enough for testing. The results will be too optimistic. You should have 1 min history and use "every tick" option. Or just run the EA on 1 min time frame - on open prices.
To see the biggest lot: go to results tab and click on heading Lots and all orders will be sorted by size from smallest to biggest. So you'll be able to see all scary big lots. If you open the graph from tab settings then double click on those big lot orders will bring you to the place in history when it happened.
Might be an idea to throw an adjustable Magic Number on this so you can copy and attach it to different currencies for testing on the same account.
Money Management? - Starting point example of 1 contract per every 20K invested (adjustable)
Has this EA made allowance to place the orders ahead of time so that nothing has to be executed @market hence missing the boat?
Good Job for your troubles Timbobo!
I think the key to running with this system and 'sleeping well' is making a bit of money and then attaching it to a suicide account, contimually skimming profits. IF it ends up being the earner promised, even in the event you wake up one morning with your suicide account wiped, you will have plenty profit stashed away to refund it.
FxNorth
"Control points (based on the nearest less timeframe with fractal interpolation of 12 control points)" - Is not good enough for testing. The results will be too optimistic. You should have 1 min history and use "every tick" option. Or just run the EA on 1 min time frame - on open prices.
To see the biggest lot: go to results tab and click on heading Lots and all orders will be sorted by size from smallest to biggest. So you'll be able to see all scary big lots. If you open the graph from tab settings then double click on those big lot orders will bring you to the place in history when it happened.
hi timbobo,
a real thank you for your effort. am forward testing it now and found out that the TP levels did not take spreads into account. was that on purpose? coz from what i foresee, if we don't take spreads in, by the time the ea close those entries on the retracement it would cover much less profits, don't you think? (my 2 pips)
Has this EA made allowance to place the orders ahead of time so that nothing has to be executed @market hence missing the boat?FxNorth
forward testing it and found out as soon as an entry hit TP eg. sell on GBPJPY, after hitting 20 pips (before spreads), another pair of buys and sells appear. the sell will start again at 0.1 lot and buy continued at 0.2 lots.
forward testing it and found out as soon as an entry hit TP eg. sell on GBPJPY, after hitting 20 pips (before spreads), another pair of buys and sells appear. the sell will start again at 0.1 lot and buy continued at 0.2 lots.
Yes, I didn't doubt that would occur, but I was asking whether Limit orders need be placed instead of @Market in case price is moving too fast and Broker rejects first attempt
Yes, I didn't doubt that would occur, but I was asking whether Limit orders need be placed instead of @Market in case price is moving too fast and Broker rejects first attempt
oh ok. my bad...
i think that would be a good addition to the system. i've just logged off from my laptop for just 10 minutes (this could be a power outage or dropped internet connection) while GBPJPY dropped 20-30 pips in 1 minute and guess what...it didn't continue adding subsequent entries, buy or sell. so in order for the system to continue, i guess the price (currently at 237.90ish) will have to get back to the price i got in at 238.56 or manually intervene it.
or manually intervene it.
Linear Mode
