The New Beast!

[SWG123]

Ok, I think I will have to relook at my lots.

The problem was TB made the first sell at around 1.54792 on 19th April. I've been holding on till 8th May, and GBPAUD has been rising through the roof. TP for this trade is 1.56274, and currently GBPAUD is 1.60269.

In cases like this, should I still be holding on though?

Alvin - where to begin ... you're aware that RBA cut rates by 50 points last week, yes? AUD has been in a sell-off since. GBP has risen against other majors but is now possibly looking overbought.

Whether to close or hold, it's up to you but you need to do some homework. I know what I would do but I'm not a signal service thank goodness. However, if your position size is appropriate to your account size you'll live to trade another day. If not, then ....

[alvin]

Ok, I think I will have to relook at my lots.

The problem was TB made the first sell at around 1.54792 on 19th April. I've been holding on till 8th May, and GBPAUD has been rising through the roof. TP for this trade is 1.56274, and currently GBPAUD is 1.60269.

In cases like this, should I still be holding on though?

Alvin - where to begin ... you're aware that RBA cut rates by 50 points last week, yes? AUD has been in a sell-off since. GBP has risen against other majors but is now possibly looking overbought.

Whether to close or hold, it's up to you but you need to do some homework. I know what I would do but I'm not a signal service thank goodness. However, if your position size is appropriate to your account size you'll live to trade another day. If not, then ....

Urgh...I guess that's the problem I have. TB seems okay with news, so when this RBA issue blew up, I wasn't sure what to do. I held on till the end, and then finally couldn't stand the loss anymore and closed it off. Afterall, we are talking about a move from 1.56274 to 1.60269....which is really significant, right?

My new plan when things happen is to keep up with the news everyday, and...

1) Determine if the news event will have a very strong, or weak impact
2) Have a cut loss point. I suppose this will be a manual cut loss point after my L3 recovery trade comes in (I use 1.2.6 recovery)

Any opinions on my strategy or if you have suggestions, I'm very receptive to them.

Many thanks in advance.

[Fx93]

I am using 1.2.6 recovery on the Old Beast, and EURAUD has went far past my .06 trade. In the manual it says we have to manually manage the trade after this, but also alludes to a system where we close the first trade and enter it again, essentially repeating the 1.2.6 formula.

My question is whether this second round of recovery is automated or not after X amount of pips, I can't see a setting where it is. Thanks.

[zah1231]

I am using 1.2.6 recovery on the Old Beast, and EURAUD has went far past my .06 trade. In the manual it says we have to manually manage the trade after this, but also alludes to a system where we close the first trade and enter it again, essentially repeating the 1.2.6 formula.

My question is whether this second round of recovery is automated or not after X amount of pips, I can't see a setting where it is. Thanks.

It's not automated, you need to do it manually.

[cuzgeorge]

Hi All,
here's a blast-from-the-past for you.
I've been tuning JL's set file for the New Beast by Ribelo, i think more commonly known as Simple Beast . I have an interesting trip along here with The Beast and this EA is still trading on my demos. Ive dropped some of the others although they were all successfull. Very slow traders but gentle growth, with high DD.
Only on four main pairs and rec set at 1,1,2,4. The initial set file was at 1,2,6. though.
I personally had some massive DD on Beast EA's but on closer inspection, it turns out it was my own manual trading that got me in the situation. This version has been running since Aug and completely on its own, no manual trades.
Well, now the EA has recovered from some DD and it seems to be making progress now. Not necessary to trade manually yet, but if anyone can throw me a few pointers from their experience, i would appreciate it.
added 8 more pairs including gold. Going to give this one a good push and see where we end up.
If anyone is out here still , please shout out!

Pics show all closed positions since august, not many for such a long time and second pic is of open positions. you can also see all the pairs i've added to the first 4 pairs since the start. Settings should also be visible.
regards
cuz
http://www.myfxbook.com/members/cuzgeor ... t-1/391172

[Pippopotamus]

One pearl remains...

[cuzgeorge]

Hi Pippo,
you mentioned in your post earlier that Zeljko does not work properly. I have not seen this or maybe have'nt had my eyes on the charts at the time. Looking at the code, all seems fine though, although the '.' periods make things a little different from what we're used to here.

Have you noticed if the EA is in recovery state when it takes those rogue positions or is it under normal trading?

thanks and have a great week end.
cuz

[Pippopotamus]

Hi Pippo,
you mentioned in your post earlier that Zeljko does not work properly. I have not seen this or maybe have'nt had my eyes on the charts at the time. Looking at the code, all seems fine though, although the '.' periods make things a little different from what we're used to here.

Have you noticed if the EA is in recovery state when it takes those rogue positions or is it under normal trading?

thanks and have a great week end.
cuz

Zeljko should not be allowing combinations such as, Long Eur/Usd, and Short Usd/Jpy, but it does... George, I don't think it should be taking these,"rogue positions,"under any circumstances. If you know otherwise, please point me to the documentation.

[cuzgeorge]

Pippo,
Agreed about correlation. Its too risky to sit through DD with two pairs going against the margin percentage.
will check on this. I must say, from the little i can figure out as far as i can see in the code, it should be working. Will try my best and will also look back at some of the beast EA's results to see if i was in a situation like that.
regards,
cuz

[Pippopotamus]

An important post about this... from FF. http://www.forexfactory.com/showthread. ... ost4556760