It would be nice, with so many EAs floating around this thread, if you told us which EA this was on, what currency, what timeframe, and anything else to help us understand.

Thank you.

i used Blessing martiangel_V7 in 1 hour TimeFrame. used in pair UJ, EJ, EU, or UCHF

You Guys Just Don't Understand It, Huh?

If Your Spacings Are 20, And The Market Goes 200 Pips Againts You, Which Happens Sometimes, Guarenteed Every 10 Days....you Will Be In A

- 10,000 Pips For The Day

Unless You Don't Want This To Happen, We Need To Find Out Thwn Ethe Market Is Not Going To Go Very, Very Volititle!

__________________
God Bless Everyone, and their trading logic.

What I have been doing is letting V1 and V2 run and taking profit (closing out all open positions) each time equity reaches 5%. I'm thinking this will help with any drawdown.

So far, in the past 5 days, I have closed out twice. That is 10 percent in less than a week.

I have a spreadsheet that tells me when I've reached 5% and I just put in the date when I've closed out the position, then the spreadsheet takes the average close time and forecasts where the account will be within 1 year.

Starting with $550.00 the account will be at over 200,000 in one year. Of course the length of time I close out 5% equity may lengthen, which will reduce the amount at the end of the year.

Hi mikejody can you show us an example of this strategy?
Do you backtest this strategy?
Thanks

Bolla

Hi Bolla,

Not sure how to show you an example of the strategy. I just put V1andV2Mini on both a EUR/USD and a USD/JPY chart and let it run. When my equity reaches an additional 5% of what I started with I turn off the EA, close out all positions, and then turn the EA back on and let it run.

I do not know how to backtest this strategy, but if anyone else does I'm interested in seeing it.

I got the idea from my friend who is in Freedom Rocks. Their system, as you know, is a hedging system, and he takes profit every 5%. I figured I would try the same thing, so I had the spreadsheet made to help me determine when to take profit (could have been done as easily with a simple calculator) and to also project out the future dates and profitability.

I tried to upload the spreadsheet here but it won't accept an excel type of file. I can email to anyone who would like, though.

ok but why close all orders?? which is the advantage of this strategy?

I don't know. Something to do with draw-down. That is the way the do it at Freedom Rocks, so I adopted the same practice here. I'm not saying it is the right way or even the best way, I'm just the kind of guy who likes to follow success rather than invent my own .

ok mike let me explain if I understand your strategy.

1° switch on EA (V1 and V2 or V1+V2 is the same right?)
2° the EA run: when the equity (not the balance right?) rise on 5% I close all open positions independently if they are gain or loss right?
3° in this way, the EA re-open automatically 1 buy order and 1 sell order and run again...right? and go to step 2.

ok...but if equity fall 5%??

thx

Bolla

Hi Bolla,

Yes, that is exactly how I do it. Again, maybe not the right way or the best way, but that is what I am currently trying.

If the equity falls 5% I ride it out, as it is hedged it will return, and when it returns to 5% profit I close out and start over.

Hope this helps.