Peaky Fifo

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cozybooks
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Post by cozybooks »

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cozybooks
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Post by cozybooks »

Peaky Fifo is experiencing a little bit of draw down with the GBP moves at the end of last week.

Empty4 demo account is at $15,731 with a drawdown of $ 494.62. This is the original demo account which started at $ 10,000. Three more months and it will be at the 2-year mark.

Oanda live account is now at $ 582.82 with just under $40 in drawdown. Interesting issue beginning to develop being a U.S. trader with Oanda's very strict margin limits, which are 33:1 on a lot of pairs. Even though I have only 25 open trades, I am using about 30% of my available margin. Long term I might have to use slightly small lot sizes or add some money to the account to avoid issues, but for now everything is well under control.

Have a great May! We've had weeks of rain and damp weather in Massachusetts. Back yard has been under water since October, when we got 24 inches in rain in one month. Hoping for nicer weather to plant my garden... :clap: :clap: :clap:
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echoman01
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Post by echoman01 »

I just might dust off my old Oanda account and try this. Thanks much !
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SteveHopwood
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Post by SteveHopwood »

echoman01 » Sun May 05, 2019 3:02 am wrote:I just might dust off my old Oanda account and try this. Thanks much !
Have you seen Jona's Empty4 to oanda bridge at viewtopic.php?f=5&t=5595&hilit=jonah

Peaky has moved on quite a lot, so it may be worth a look.

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cozybooks
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Peaky Fifo

Post by cozybooks »

Yes, I keep Peaky Fifo running because it continues to make me money and has a soft spot in my heart, but with Jonah's Ditto trade copier for Oanda, you don't really need to use the Fifo version, and some of the newer Peaky EA's are piling up pips like crazy. I'm hoping to leave Peaky Fifo's profits piling up until I reach the 10 year mark on the live account (live account is now around 17 months).

Once every week or two, The Ditto EA has still been locking up on my Peaky Account, and sometimes as much as day goes by before I realize it. Once I restart, Ditto dutifully opens and closes all of the trades. I've actually done slightly better on the Oanda live account having some of the trades only open or close a few hours or a day later, so this really isn't a problem for me.

Mostly Ditto allows you to take advantage of Oanda's one dollar lot size minimum, so if you don't have a 5k or 10k account, you can still trade a lot of pairs with a larger number of open trades using very small lot sizes. I have a very large number of pips between trades to avoid running into margin problems with my Oanda account as a U.S. trader, so I never have more than four trades running per pair. I think to run some of the newer Peaky EA's on an Oanda account, you would need to use a lot size of .01 per $1,000 per number of pairs. So if you are running 20 pairs, you would need have a lot size of .01 per $20,000. With 20 pairs on a $500 live Oanda account, you could run ditto at 2.5%, which would give you lot sizes starting at $25.

I am going to be testing this live on Peaky on Steroids, so I will keep things updated whether I run into problems at that lot size on Oanda with their margin requirements.

Happy trading!
echoman01
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Post by echoman01 »

Thanks again Steve and Cozy...I'm looking into Ditto right now ! :good:
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cozybooks
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Post by cozybooks »

Yes, Peaky Fifo still running strong. Will begin doing some analysis this summer when I reach the two year mark to see how many pairs end up with multiple trades open vs. closing at a profit with just one trade to determine if there is a more ideal lot size and distance between trades to maximize profit while minimizing drawdown.

Live Oanda account now at $ 651.79 with about $ 62.00 drawdown. A nice haul from my original $ 130 investment 18 months ago. Still using about 1/3 of my available margin.

Demo now at $ 16,036 with a $710 drawdown- now at 22 months and running.

Happy Trading! :clap: :party: :clap:
richard96816
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Post by richard96816 »

Thanks so much for a wonderful thread and all the hard work.

I have an Oanda account and your EA sounds like a great tool for that.

FIFO does suck. But in my experience, Oanda makes it worse. Others have noticed a bug that Oanda sometimes changes your Magic Number to zero. So if your EA is careful about it's trades you can still completely lose track of a trade! I've added code in my EAs before to look for that, but haven't seen it again, yet.

FIFO really means that you probably shouldn't use Magic Numbers in the normal way. It's messy, but Symbol and Open-time are probably the only reasonable keys, maybe size too. If you get a FIFO error or see a trade that's older than the one you need to close you need to consider whether you should close that one too.

FIFO means not being able to run multiple EAs on the same pairs. So when a bug or mistake creates uncontrolled trades any running EA should probably force a close if that trade conflicts with their closures.

Thanks again for the great EAs and the dedication!

Besides my Oanda and Forex.com accounts I also have an account on FXChoice. That's a real account that Americans can open that has full 200:1 leverage and hedging capability. All the nice features that FIFO kills. I had to fund mine through Bitcoin, but they make that fairly easy. Better support than Oanda or Forex.com for sure. Good data so far. Better than the other two. Had it for about a year, very good so far.

I guess I'll keep all three going for now ...
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cozybooks
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Post by cozybooks »

Thanks for your input! Very interesting. You made me curious, so first I checked to see that Ditto was still running and that it showed the same number of trades in my live Oanda account that the demo Empty4 platform showed. That matched, so I next logged onto my Oanda Peaky account with their desktop software just to see that in real time on Oanda's own software, that everything matched.

Everything ties out perfectly on my account, BUT, I am using 0 for a magic number on my Peaky EA. The Oanda account only runs this Peaky strategy, so I don't have a need to keep its trades separate from everything else. Oanda allows you to maintain multiple sub-accounts, so that is what I do - currently I have five different sub-accounts going with different strategies.

If you use ditto, (see link in Steve's post a few posts earlier), you can run as many different strategies in the same Oanda account as you want (as long as they are all buy or all sell within a pair on any one account). However, as time goes by, I actually much prefer having each strategy in its own sub-account. It also gives you some protection. If an EA goes crazy or price goes crazy on a particular pair, it can only affect that one sub-account. The money in your other sub-accounts is safe.

A slow month for Peaky Fifo - Oanda demo account at 23 months is at $ 16194 with a drawdown of about $809. Live Oanda account is at $ 663.59 with a drawdown of $ 74.90. Interesting how now I have nine pairs with two trades open, and one pair (GBPUSD) with four trades open. It will be interesting to see how it plays out.

One other nice benefit of ditto. You can change your lot size slowly over time as your account grows. I have just increased the Ditto % to 11% instead of 10%. My current plan for the coming months will be to increase 1% on ditto every time the Empty4 demo gains $200. Demo Empty4 is using .02 for lot size, so this will translate on Oanda to a lot size starting at $220 and going forward from there. Compare this to the Empty4 platform, where you have to jump from .01 ($1000) to .02 to .03 - $1000 increase at a time - okay if the account is large - a lot scarier when the account is small.

Lots of new toys right now to play with on Steve's forum, but even though I have other stuff going on, I am keeping Peaky Fifo going. Nearly 62% gain in less than two years with very minimal risk has left me very happy with the results. If I had used larger lot sizes, I could have doubled or tripled that performance, but I wasn't willing to assume that much risk.

Happy trading!

:clap: :clap: :clap:
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cozybooks
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Post by cozybooks »

Hi all,

August ends with Peaky Fifo building up a big drawdown - a very big test for it. Demo now at 25 months, sits at a balance of $ 16,677 but with a drawdown of $ 3,113.

Live Oanda Penny account is in worse shape because even though the lot sizes are tiny, they are a much greater percentage of the balance than the demo. Life account balance has increased to $ 702.22, but with a large drawdown of $ 309.50. I will loan it money as necessary to get it through it's tough times, but it is a good lesson to show what will happen eventually with the larger lot sizes and where you will be if you don't have extra funds ready to subsidize an account.

Very telling is that in the entire 2+ years the demo has run, there have never been so many pairs with 3 or more trades open at once. AUDCAD, AUDCHF, and AUDJPY all have three trades open. EURCHF and EURJPY both have three trades open. GBPCAD and GBPJPY both have 3 trades open. NZDJPY has four trades open. And for the first time since the demo started, I have a pair with 5 open trades - GBPUSD has five losing trades open at the moment, which is its maximum unless I let it have a little more leeway.

Interesting times!
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