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This EA is designed to really work on a RANGING market. 90% of the time, the market is ranging so it works great, but then there is that 10%. But this EA does even well on those trending times as long as it does not trend TOO much.
I was thinking about purchasing this EA, but I knew from the start that it needed some help and it was TOO Risky with no STOPLOSS of any kind. He could have added in what I call a BASKETLOSS. What this is is when the % draw down gets to, say 30%, then close all trades. This way, you can then restart it again after the markets have "cooled" some.
Another thing it seriously needed was a Minimum PIPS between orders. I was the "clustering" of orders many times and saw that as being VERY dangerous. It needs to have something that says orders must be at least (say 40) pips from previous order. That way, the orders get spaced out much better which also prevents DrawDown.
I believe the EA has potential and I hope that this crazy market right now has given the author the ideas/solutions to make it through something like this next time.
I just believe honesty is the best to have and the author does not appear to be honest. The results on the website suddenly don't get updated and it "appears" that it works great. We know the truth here, that everyone who has tested it has recently gotten margin calls.
I just feel sorry for those that put real money into it. I have gotten burned by similar EAs in the past so I saw this one coming.
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Don't Let The Love of Money Send you to Hell™
Most vendors seem compelled to portray only the good times - another person guilty of this is the guy behind the 'FX Reports" news-trading. Initially he used to send bulletins listing the daily results, until that is, there was a spate of losses - first came the "this hasn't happened before" line, then he finally just stopped including them in the daily bulletins, even though I reckon he is probably still profitable! It tends to highlight though that many of these guys seem to generate more revenue from the subscribers than they do from trading - hence, the 'damage-limitation' by omitting the poor results...
Drawdown for me is over 100%. I put in more funds than my starting pot of $20000 on this EA hence over 100%.
I closed all positions today and took a $25000 loss
Facts are very simple. Forget any biases you may have:
> Any EA that suffers this magnitude of Drawdown should be given away free....as per what someone else said
> I should have demo'd it for 6months first....let that be a lesson
> PID....I think this stands for Permanently In Drawdown
The writer really needs to stop selling this, get it right, forward test it for at least 6months so that differing market conditions can be absorbed and then offer it for sale.
I cannot believe this was done before the EA was marketed
This is my opinion and others are welcome to differ. My stern advice...stay away from this EA
You have how much drawdown??? How did you manage that???
Can you post your set file please? I want to see what your equity protection was set at.
I was thinking about purchasing this EA, but I knew from the start that it needed some help and it was TOO Risky with no STOPLOSS of any kind. He could have added in what I call a BASKETLOSS. What this is is when the % draw down gets to, say 30%, then close all trades. This way, you can then restart it again after the markets have "cooled" some.
Now I'm really puzzled. Is everyone using an old version with no equity closure? I have PID 4.
The thing with this EA is to be able to determine when to turn it on and off. If it is running during market conditions that it favors, it really can produce great returns, as we know from having watched it from April until the end of July. When the market moves very sharply and smoothly it gets into trouble. But if you can figure out a method for spotting that so that you know when to turn it off, and then another rule to determine when it is safe to turn it back on again, I think it has the potential to be a great EA.
I think the mistake Azmel has made has been to try to optimize the algorithm to enable it to be able to trade through all market conditions, and I do not honestly think that it is possible to achieve that. This is why I think PID5 has not been a success. My opinion is that what is really needed is PID4 with an additional algorithm to determine market conditions that can "put it to sleep" when needed and then wake it up again when the storm has passed. That really would be a great EA.
I explored Proportional Integral Differential control for a long time as a potential candidate for a trading system. The problem with PID for the application of trading is that the market is "most likely" too chaotic for PID to control. The market has potential aberrations from time to time that no analog control loop can account for. Even if you identify all the quasi periodic frequencies that comprise quasi cyclical market action, and tune the PID to react to those, the PID control will still fault out. Even cascaded PID loops will not be able to control all potential market fluctuations.
There is plenty of c++ Source code out there to base your own PID code on, but you will have to feed the price data into a number cruncher such as Mathematica to determine the frequency “poles” of the data set for the design.
You can do some amazing things with PID, but ya got to do major homework. You need a control engineer specialist to construct the proper parameters for the PID, and some really torture test data set to test it out before you invest a penny.
Cool video - a sort of poor-man's 'Asimo' attempt!
I have just a lay-mans understanding of PID but in your opinion, shouldn't trading just one currency pair with it be far more likely to produce a long-term positive result - at least in theory - rather than trading baskets? It seems impossible to me that you could have any form of 'control' trading multiple currencies...
I explored Proportional Integral Differential control for a long time as a potential candidate for a trading system. The problem with PID for the application of trading is that the market is "most likely" too chaotic for PID to control. The market has potential aberrations from time to time that no analog control loop can account for. Even if you identify all the quasi periodic frequencies that comprise quasi cyclical market action, and tune the PID to react to those, the PID control will still fault out. Even cascaded PID loops will not be able to control all potential market fluctuations.
There is plenty of c++ Source code out there to base your own PID code on, but you will have to feed the price data into a number cruncher such as Mathematica to determine the frequency “poles” of the data set for the design.
You can do some amazing things with PID, but ya got to do major homework. You need a control engineer specialist to construct the proper parameters for the PID, and some really torture test data set to test it out before you invest a penny.
The expert is called the PID, but it has nothing to do with PID controllers
The idea of a PID is to control the system by adding or removing gain, which is impossible to apply in forex as we have no control over the price in forex , so idea of using a PID controller in the forex market is not vlaid unless you have multi billion dollar account and you want to play with the price.
Linear Mode
