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Backtesting on Pipmaker is not valid, due to it's complexity and levelling up/down strategies.
Attached is a graphic of forward testing this week, using Target Profit = 30 and Lotsize = 0.1 instead of 0.01. I am aware this poses a risk of margincall, though it was not the case.
Basically it is doing very well until entering against a big fundamental move.
This EA is very complex and neatly written, huge potential. However, we must be aware that sometimes it wil enter against the market and those positions must be killed as soon as possible, thus minimizing the losses.
The game is: if we make it too safe, it doesn't open trades often. If we make it too risky, it goes fine until one time when the account is extinguished.
I agree this EA has huge potential and I think that I saw within another thread that don_forex was working on a new version. So any improvement may make this a long term winner.
Make sure you can trade this live on your broker before you dump a bunch of effort into it. It backtested/demoed fine for me but when I took it live with IBFX it couldn't close orders on its own.
Also, from what I understand don_forex worked with another guy on this EA for about two years trying to solve the floating loss and close order problems, you might want to PM him or something to see if he has already tried what you are be planning to do, it might save you some time.
Make sure you can trade this live on your broker before you dump a bunch of effort into it. It backtested/demoed fine for me but when I took it live with IBFX it couldn't close orders on its own.
Also, from what I understand don_forex worked with another guy on this EA for about two years trying to solve the floating loss and close order problems, you might want to PM him or something to see if he has already tried what you are be planning to do, it might save you some time.
i am,testing with a live account at liteforex its close orders immedetly,fast than manually.the disatvantage of this EA,leting a floating orders with huge loss waiting for reserval.i am trying to find solution about it
Cool! Good luck with your efforts. This EA really makes pips when its "in the zone" so to speak but as you have noted, the huge floating loss can be a killer.
Profit from his EA is awesome..but floating is high, but this EA have a BIG potential...and need some modification to make this a profitable EA.
need some modification from who expert in coding this. this EA can be a great EA in 2007..belive me if this major problem for this EA can be solve.
i use PipMaker v4 for my LiteForex live account with staring $ 10,000 ( cents ) and now my acocunt have $ 12,750 just in 3 days and floating - $ 958.25
Ok, its been a while since I posted here. But, I've been really busy with other things.
The dilemma with this EA has been the orphan'ing of losing outliers. So, I modified Neo's latest version to only close winning trades if it would close an outlier. Most of the time, in a nice non-trending market, this thing rakes in money like there is no tomorrow.
But, I want this to be stable in a trending market also. So, in a nutshell, what I've done is added the Bollinger Band RSI indicator, which I love in manual trading in the 4hr timeframe. The EA will only open trades with the 4hr indicator trend. It will only close trades if an opposite outlier can be closed. You will see most of the time it will eliminate all of the outliers on a descent trend. However, if there are to many outliers, your account will blow up.
When testing, I picked the worst time to start, which is an intermediate low of Nov 2005. It blows up every time. I have not to date found good settings. I always start with $10,000. I guess if you start with $100,000 it would work, but only using .01 of microlots.
Oh yea, if there are no outliers, it will close the winning trades.
I have some more ideas I want to try as soon as time permits. For those who have PM'd me... I apologize for my delayed response. I will reply as I have time. Thanks.
My modified EA is attached with the Bollinger RSI indicator.
Linear Mode
