Electra EA ** Released to Elite Members ** - page 2

Max bars in chart?

Project1972,what is the Max bars in chart better when run all the currency pair?Does it matter?Thank you

I don't know of any indicator or EA who need more than 1000 bars to run.

This also apply to Electra.

Reducing the amount of bars to 1000 will decrease the amount of memory and CPU to very low levels. This is very important for the people who run VPS or multiples terminals in one machine.

1000 bars is more than enough, the critical part of this EA is the amount of bars in the D1 timeframe to get the dairy average but the EA only use the last 200 bars to do it.

Even with a need of only 200 bars I had to mod the counter to use only the bars available because I found tha FXLQ don't have 200 bars on some pairs !!!

running electra alonside with phoenix/fb

i am a bit of a newby, but i spent some time reading threads in this forum and the ff forum as well. from what it appears to me electra trades on trending markets but its weekness lies on non trending markets. fb &phoenix are exactly the oposite. fb tends to blow up acounts when there is a trending market. v3.2 by wackena claims to handle it, but steel its fb great weekness. it was claimed here that electra can co-exist alongside other ea on the same acount. so why, for example , shouldnt we trade them both, and when electra places an order, we turn fb off. better than that: there is another version of fb called fb reverse. if for example electra places an oreder, we know that a reverse fb probably will function better than a regular fb.

so those are just my thoughts, if someone want to comment he is more than welcome.

I haven't tested Firebird 3.2 and because that I don't have a opinion about that. Electra can run together with others EA, but as always, be very careful about your selection, do extensive backtest and forward test before think on something, Try to select robust systems with positive expectation over the long term.

Wackena is a great coder but he is human and he can make wrong things or wrong assumptions like everyone can do, including myself.

Do your own test and re-check the system for yourself, never trust in the word or the test of anyone not even in my own one. If you drop any system in your account, Its your money in play not wackena money and certainly not my money.

Don't select systems only because they had a excellent short term success and NOT Discard others because they had a short term bad luck the last months.

There is not any robust system capable of always win, robust systems can have down periods, sometimes for months or even years, but they bring positive results in the long term.

All of us have heard of the fantastic long term return of the Turtle system and how robust it is, but....

How many of you are trading using the turtle system ? Did you know that Curtis Faith had a absolute drawdown -not floating- of 70% of his account trading the Turtle system ?

As Richard Dennis said several times, the disclosing of his rules will not have any impact in the market, because, How many of us (I am included) will resist the level of absolute drawdown experienced with the Turtle traders?

There are many robust systems out there like the Turtle System, the ACD method, the volatility expansion breakout system, etc, but unfortunately, there are not many EAs coded using robust systems, most EAs use very crappy and weak systems only base on very short term results, specially the Commercial EAs.

Commercial sellers know that they need good results in the short term to impress the buyers, if not, they will not sell anything, who will buy a commercial system who had 8 months of drawdown although its solid in the long term ? Also they use a very irresponsible MM to boost their results.

Coming back to firebird 3.2 I don't know, do your homework and do a careful evaluation before drop in a live account.

I forward tested Phoenix for some time with negative results but I didn't messed with settings or any optimization. And I didn't tested it for long term.

forward testing

thanks alot project 1972 for your valuable time. starting tonight i will forward test your ea alongside with the following ea's:

3 alpari demo acounts:

1.electra+fb 065 (on four mains)- turning on the reverse fb when electra will place and order

2. electra+fb 3.2 (on four mains) - switching off fb when electra will place an order.

3. electra +predator (on eur/usd 1H) - as electra will place an order i will allow predator to place orders only on agreement with electra. i have many hopes engulfed in this one as i have a bad experience with predator: it tripled my acount in six months only to blow it up, not following the eur/usd rally in september. so maybe electra will function as its indicator (a very profitable indicator!!).

i will post my resault every month if you are interested. thanks again, really, i meen it.

mistake

dear projet 1972, sorry to misslead you, but i made a mistake:

i intend to open 4 demo acounts, which one will run 5k with electra(0.01 of course), and the other 3, 5k each, which will run fb and predator. the electra acount will dictate my actions toward the other 3. if this will work i will act in live the same way (as i have 10k hard earned money which i dont wanna lose).

thanks again and sorry to bother, good night.

That's worried me......Short answer: don't trade your hard earned money.

I see how many people are very fast to drop any EA into a live account without even get familiarized with the strategy behind it.........

This type of attitude will not lead to a good thing.

The first thing you should do is find a strategy with positive expectation over the long term.

FORGET SHORT TERM PERFOMANCE.

1 - Now ask this question for yourself, is Predator, or any martingale or cost averaging strategy like Terminator, Goblin, 10p3, etc capable of steady returns in the long term? what happen when they lose ?

2 - There is anyone using this type of strategy on live accounts from, let me say 5 years ago without problems ?

There are not many NEW trading strategies, most, good ones and bad ones exist from many years or even hundred of years ago.

Martingale or cost averaging systems exist from hundred of years ago, the answer to both questions should be easy.

Those 2 answers will eliminate most bad methods from your testing environment.

Now test on demo all the strategies who have a sounding rules behind, after many months or even years if the results are sucefully you can go live, using a mini account with very small amount of money.

If you bridge some steps you will regret it. If you want a more fast method, find a money manager, one who already have a sucefully method with good results in the past 5 years.

I will recommend a very good small book to you "The Zurich Axioms"

Recently, I recommended this book to a friend and after read it he told me:

"This a Great read. Everyone interested in becoming and staying wealthy should read this bi-annually in perpetuity."

__________________________________

Max Gunther - The Zurich Axioms

If you want to get rich, no matter how inexperienced you are in investment, this book can help you. Its message is that you must learn neither to avoid risk nor to court it foolhardily, but to manage it - and enjoy it too. The 12 Major and 16 minor Zurich Axioms contained in this book are a set of principles providing a practical philosophy for the realistic management of risk, which can be followed successfully by anyone, not merely the 'experts'. Several of the Axioms fly right in the face of the traditional wisdom of the investment advice business - yet the enterprising Swiss speculators who devised them became rich, while many investors who follow the conventional path do not. Max Gunther, whose father was one of the original speculators who devised the Axioms, made his first capital gain on the stock market at the age of 13 and has never looked back. Now the rest of us can follow in his footsteps. Startlingly straightforward, the Axioms are explained in a book that is not only extremely entertaining but will prove invaluable to any investor, whether in stocks, commodities, art, antiques or real estate, who is willing to take risk on its own terms and chance a little to gain a lot.

My test correct?

Project 1972，these days I am testing this EA through 2000$ interbankfx standard account with 0.01 lots setting.The EA opened and closed several orders with 0.04 lots. But only for "chfjpy",there is a 1.00 lots opening order with 75 pips floating right now, seems a little big. Is my test setting correct?

Thank you very much

Of course not, you have a wrong LotSize in that pair. re-check it.

My test

It is ok now after check. Project1972, Thank you