Eat, Pray, Love (EA) Which do you choose?

[jlcgarcia]

SERIOUS WARNING

Most Forex traders lose all their money.
Using the robot posted here in trading Forex does not guarantee success.
Trading this robot could lead to serious financial loss.
Trading this robot without understanding its underlying trading strategies guarantees traders will lose their money.
This is not a set-and-forget ea; there is no such thing and anyone who tries to claim there is, is either stupid or lying. This ea requires frequent manual intervention.
At best, a trading robot is only 90% as good as the manual strategy it trades. At best. At worst, it can be much less effective. If the strategy is rubbish, so is the robot.
To trade this robot, you have to understand:
How to use EA's.
The risk in forex markets.

Hi,

I am developing at the moment a new EA based on the Forex Kiss v3 EA, that will reduce the DD of this EA and will add new features.

The title of this EA (Eat Pray Love (+Write)) was taken from the title of the excellent book "Eat, Pray, Love: One Woman's Search for Everything Across Italy, India and Indonesia" by Elizabeth Gilbert, that I recommend warmly. Also the film of the same name.

The new EA will search for pullbacks in the 15 min timeframe (Eat), 30 min (Write), 1hour (Pray) and 4 hours (Love), opening limit orders of the same duration. You will be able to select which of the four pulllbacks to trade (or all of them).

Also I have created my own ALR (Automatic Loss Recovery) Basket Manager included in this EA.

Regards


José Luis

[mackaozy]

Hi Jose

I can't wait for this! V3 doing so so well.

Thanks for all your efforts.


Steve

[bazze]

JL, it's very nice of you to share all that you do, and have done ...But, I wonder if you (maybe) can come up with a ea for us who don't have so much $$$ to start with?
Maybe you already have one in your vault?

[jswarb001]

Bazze I'm in the same boat in terms of low capital but try Kiss v3 and change the maximum trades to just 10. That will reduce DD but as it runs so well it will still accumulate good profit. cheers

[beorne]

Hi José,

I have been a fan of your work for some time. I love grid/progression/multi-pair strategies. I haven't found one that works yet, though... But your EAs have come close.

I usually set up your EAs on demo with default settings and let them run. The results are invariably the same: the drawdown will eventually eat up all the profits and more. This is always the case if you let the EAs run without intervention. Either you bust your account or, if you have enough funds, you end up with trades in drawdown for long periods of time hammering you with negative swap AND preventing new series of trades to be open.
But you are well aware of this. Your recent EAs with the option to trade only positive swaps is an attempt to address that issue. But, in my opinion, it only partially solves it since you will still end up with series of trades open indefinitely that prevent new (possibly profitable) trades/series to be open.

And I'm not even getting into "black swan" events! A number of things can go wrong in Forex trading, and sooner or later, something WILL, there's no escaping that.

Now, I don't know what the exact solution for this is but I'm convinced it MUST include having some sort of Stoploss. Whether it's an individual SL for each trade (such as you included in Forex Duck) or a stoploss for when a given pair/series of trades reaches an X amount of negative pips/$, or a hard stop when equity reaches a certain amount, or some other type, I don't know. But I would like the chance to test that.

I wrote all this to ask if you could include some sort of user definable stoploss mechanism in your EAs.

I like the direction you're taking now in your EAs with multiple user definable features.
The options you offer us in KISS and Duck are great, the global percentage closure, the trailing stop, the spread, swap, pair and directions filters. I only think there's a user controllable stoploss feature missing and I would love to have it to test it. (Maybe also a money management feature, with lots increasing as your account grows, but that can be left for another time).
I believe this is all we're missing in order to have a true automated trader's dream. Whether we can make it profitable, only time and testing can tell.

Please do let me know what you think about this.

Saludos from Portugal,

b.

[bazze]

Bazze I'm in the same boat in terms of low capital but try Kiss v3 and change the maximum trades to just 10. That will reduce DD but as it runs so well it will still accumulate good profit. cheers

Will try it, thanks for the tip ...

[jlcgarcia]

Hi José,

I have been a fan of your work for some time. I love grid/progression/multi-pair strategies. I haven't found one that works yet, though... But your EAs have come close.

I usually set up your EAs on demo with default settings and let them run. The results are invariably the same: the drawdown will eventually eat up all the profits and more. This is always the case if you let the EAs run without intervention. Either you bust your account or, if you have enough funds, you end up with trades in drawdown for long periods of time hammering you with negative swap AND preventing new series of trades to be open.
But you are well aware of this. Your recent EAs with the option to trade only positive swaps is an attempt to address that issue. But, in my opinion, it only partially solves it since you will still end up with series of trades open indefinitely that prevent new (possibly profitable) trades/series to be open.

And I'm not even getting into "black swan" events! A number of things can go wrong in Forex trading, and sooner or later, something WILL, there's no escaping that.

Now, I don't know what the exact solution for this is but I'm convinced it MUST include having some sort of Stoploss. Whether it's an individual SL for each trade (such as you included in Forex Duck) or a stoploss for when a given pair/series of trades reaches an X amount of negative pips/$, or a hard stop when equity reaches a certain amount, or some other type, I don't know. But I would like the chance to test that.

I wrote all this to ask if you could include some sort of user definable stoploss mechanism in your EAs.

I like the direction you're taking now in your EAs with multiple user definable features.
The options you offer us in KISS and Duck are great, the global percentage closure, the trailing stop, the spread, swap, pair and directions filters. I only think there's a user controllable stoploss feature missing and I would love to have it to test it. (Maybe also a money management feature, with lots increasing as your account grows, but that can be left for another time).
I believe this is all we're missing in order to have a true automated trader's dream. Whether we can make it profitable, only time and testing can tell.

Please do let me know what you think about this.

Saludos from Portugal,

b.

Hi,

I have read with very attention your comments and I agree with you that an stop loss is necessary. But I was in communication with some persons evaluating where to put this stop loss and we cannot agree. I do not know where to put the stop loss in my EAs. If I would know I would do it. A friend told me some time ago that the best was 150 points and later he told me that when the trades have been stopped, inmediately the market reverses and if they have not beent closed they can have reached the breakeven. Where to put the stop loss ?

I am including here an EA that uses two stop losses: stochastic and a hard stop loss of 150 points. It uses stochastics for exits in profits or in losses, and a hard stop loss. Try it and let me know, if possible, where to put the stop loss.

With my best regards for your comments

José Luis

[beorne]

Where to put the stop loss ?

Hello José,

Yes, this is the (difficult/impossible?) question to answer. The same stop won't even be adequate for all pairs.

But perhaps that can be left to the trader's discretion? Some people's tolerance for risk might be higher than others. And we don't need to get it right every time, this would mainly serve as an "insurance" against losing the entire account.
Just having the option to set up a stoploss would be great in my opinion. KISS, for example, has everything to be a winner: great entries, great functionality, great exits when in profit. Having the option to set up a cut-off point would allow us to test what could work in the long run.

I'll set up the EA you posted in a new demo, thank you.

Cheers,

b.

EDIT: Here's the link: http://www.myfxbook.com/members/beorn/zodiac-v9/1423763

[jlcgarcia]

Hi José,

I have been a fan of your work for some time. I love grid/progression/multi-pair strategies. I haven't found one that works yet, though... But your EAs have come close.

I usually set up your EAs on demo with default settings and let them run. The results are invariably the same: the drawdown will eventually eat up all the profits and more. This is always the case if you let the EAs run without intervention. Either you bust your account or, if you have enough funds, you end up with trades in drawdown for long periods of time hammering you with negative swap AND preventing new series of trades to be open.
But you are well aware of this. Your recent EAs with the option to trade only positive swaps is an attempt to address that issue. But, in my opinion, it only partially solves it since you will still end up with series of trades open indefinitely that prevent new (possibly profitable) trades/series to be open.

And I'm not even getting into "black swan" events! A number of things can go wrong in Forex trading, and sooner or later, something WILL, there's no escaping that.

Now, I don't know what the exact solution for this is but I'm convinced it MUST include having some sort of Stoploss. Whether it's an individual SL for each trade (such as you included in Forex Duck) or a stoploss for when a given pair/series of trades reaches an X amount of negative pips/$, or a hard stop when equity reaches a certain amount, or some other type, I don't know. But I would like the chance to test that.

I wrote all this to ask if you could include some sort of user definable stoploss mechanism in your EAs.

I like the direction you're taking now in your EAs with multiple user definable features.
The options you offer us in KISS and Duck are great, the global percentage closure, the trailing stop, the spread, swap, pair and directions filters. I only think there's a user controllable stoploss feature missing and I would love to have it to test it. (Maybe also a money management feature, with lots increasing as your account grows, but that can be left for another time).
I believe this is all we're missing in order to have a true automated trader's dream. Whether we can make it profitable, only time and testing can tell.

Please do let me know what you think about this.

Saludos from Portugal,

b.

Hi beorne,


I am afraid that the EA I posted before does not take any trades for now. I will take a closer look at it. I beg your pardon for that. Instead I am posting one of my favourites. I have reanalyzed the original Forex Duck, reprogrammed the entries, and added a modificable hard stop loss (default 150 points).

Please replace your demo with this one.

Regards


José Luis

[beorne]

Hi José,

Thank you for the new EA. I saw yesterday that my Zodiaco demo wasn't taking any trades. I assumed it was a problem at my end, deleted all global variables and restarted the platform. It had happened before. Nothing changed so I was going to take a closer look today.
My demo PC isn't ideal, it's a 6 year old "multimedia" PC, connected to the router with no monitor attached, I have to access it through TeamViewer. It can run 6 or 7 platforms but some EAs are more CPU intensive and it can lag a bit. But the internet connection is stable so it works for now.

Anyway, I'm trying something with the first KISS EA you posted (FOREX KISS 4H Multiple). I've been running it on a $5000 demo on the H1 chart and trying different things. Right now I'm using MPTM to place a 150 pips stoploss on all trades. Also, no filters and closure on 1% profit.
I have also just changed the lot size from 0.01 to 0.5(!!). The reason for this is to allow the EA to close trades using the percentage profit closure faster and prevent them from going into deep drawdown. I've noticed trades often go into profit very quickly after opening.
This MIGHT work a few times but won't work every time, it will eventually go into drawdown. That's the reason for the stoploss. But with these aggressive lot sizes, my concern is the stoploss being too wide. Let's see...

This might not work at all but there's no harm in trying, right?

I'll post the links to this KISS demo and the new DUCK ON CRUISE demo in a while.

Cheers,

b.

EDIT:
Here's the link to the KISS EA: https://www.myfxbook.com/members/beorn/ ... C9kJCYftbM

And link to DUCK ON CRUISE: https://www.myfxbook.com/members/beorn/ ... se/1423763