In order to prevent massive draw downs the following system might be adopted which is similar to the system told by don_forex The EA should allow the user determine a an equity target.
If the equity target is reached the EA should close all the open orders at once and the restart again.

Suppose if the initial balance is $500 and the target equity set is +$25. ( not the profit ..it is equity). Once the equity achieves the target +$25 ( Balance $525)in equity, it closes all the open orders. The EA restarts again.

Again when the equity reaches the target profit of another $25 ( Balance $550)it again closes all the orders.

Currently I am struggling to do this manually. Better if it is incorporated in EA. I use version 2 .I find that more profitable with above system

This is an intriguing ea with tremendous potential! It is a powerful ea that currently needs some control and it could be an incredible $$ maker. I have tested it on a demo and realized it will do very well if you turn it on during a strong breakout or trend. Then turn it off and clear the float when the party is over. I have used it twice on my 1k live account on usd/jpy for a few hours for a tremendous profit in a very short time. I just used it on the usd/jpy for about two hours and picked up over $200. I left it on overnight about a week ago and picked up $250. However, if you leave it running during an undefined market it will leave a large negative float to deal with. I really hope development continues…. This is a great ea. Thanks for sharing it!

Well, I modified the latest EA from Neo, in which I added a trending indicator that I've always liked... the BBRSI&MA, and removed the checking of closing orders above/below the midline. I didn't quite understand that, but, now the EA closes any orders meeting the profit target no matter where price is. So, long orders are only opened on a 4hr trend with the indicator, same for short orders. This seems to limit outliers and helps the EA cover them with the profitable orders.

Again, I'm using the worst case scenario... starting at an intermediate low in Nov 2005 for the EURUSD. This is in 6 weeks. Equity drawdowns are smaller. Nice curve... Still testing...

Carl

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Dear All,

I just run the testing strategy. here are the result. Please advice what's happened here. the curve not prety good the last. Is't the my setting not right?? .. Many Thanks.- FARIDIN

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Tester-usdjpy1m.htm (89.4 KB, 70 views)

I let this trade on a small live and demo account at the same time to see how the results would compare. After letting it run for the past four days what I have noticed is that the while the demo account turned a nice profit (~14%), the live account opened orders but would not close them, forcing me to close them out manually at a loss at the end of the week.

I have checked all the obvious things and settings are pretty much identical on both accounts. Has anyone else had this problem, or am I overlooking something simple?

__________________
魑魅魍魎

Which broker you are using?
Call them and give them the Sh...
They put you on manual execution!

Yeah but if I was on manual execution wouldn't the requests to close be rejected by the server? There is no request by the EA to close the orders in the journal. Also, the EA is able to execute orders manually but it cannot close them.

__________________
魑魅魍魎

Few Questions:
WHY???
extern int MAPeriod = 1200; ????????

// Internal settings
int Step = 1; ?????????????????
int Error = 0;
int Order = 0;
int Slippage = 0; ?????????????????????
int Reference = 0;
string TradeComment = "PipMaker v5a Neo";
datetime BarTime = 0;
static bool TradeAllowed = true;
double TickPrice = 0;

int MaxBuys = 0;
int MaxSells = 0;
Why MaxBuys/MaxSells....0; ?????
Thanks
B.

This is the crux of the whole EA. Determining the trend and taking the best advantage of the trend. If you can determine the best identification of a trend and load up on the orders in that direction, you can reduce the drawdown. Still working on the EA to determine trend and best optimizations...

Don

There are the answers to your questions...

Don