TraderJoeForex » Tue Oct 11, 2016 11:01 pm wrote:
Excellent and look forwards to your comparison cutting the losers. What you propose makes sense and using H4 for exits hopefully won't knock you out of too many of the good ones.
(I checked and didn't have that EURCHF trade .. probably due to the M5 HGi filter on mine)
I was thinking of an alternative option along these lines too.. If we had an option to increase lot size on reverse i.e. if max trades per pair is more than 1 and the EA takes trade number 2 then this would be 2 x the size of the 1st (opposite) trade. Any further trades would be the same size as this second trade. This would ensure that there is always the initial lot size riding on the pair whichever direction... i.e. 0.01, 0.02, 0.02, 0.02 etc. The lot size is still constant with the first trade.. it never increases it just means a hedge is a hedge + 1.
Mathias if you find yourself with time on your hands in the coming weeks it would be fun to try this perhaps
Thanks mate, normally we should get the chance to get in when good moves happen and hopefully end up with profits making up for the losses (isn't this what trading is all about huh?
In any case first thing to be observed:
CADCHF.png
As you can witness rapid open and closures of CADCHF in a short period of time. This probably due to the exit condition being too lax. Therefore I've changed this from -0.3 to -1 on a fresh new demo account. Btw a small tip to everyone at Global Prime; when testing EAs on demos be sure to select leverage 1:100 as this is the standard leverage granted to the regular client when he/she opens a live account (if you want higher leverage, you can request for 1:200 tops I believe). This way we'll attain more 'truthful' results.
Furthermore a question to you Mathias:
Imagine the new daily D1 candle opens after roll-over and the new trading day starts. At this point we boot up the EA with its basket functions. Imagine we also start with a starting balance of 3000 EUR. We also specify a basket TP of 1%. Thus we'd cap everything and start anew once we hit a profit of 30 EUR. Now we start taking trades with lot sizes and other characteristics based on this starting balance of 3000 EUR.
A few hours later imagine nearly all trades are cut out because their exit mechanism(s) gave the signal (e.g. the H4 diff on the opposite side was reached for all trades). The result is a loss of say -3%, which is 90 EUR at this point. I presume the EA in its current state would then take new trades based on a balance of 3000-90 = 2910 EUR. It would fire trades with slightly smaller lot sizes and set a basketTP at 87.3 (3% of 2910) and once open trades reach this profit we close out everything. Is this how it would happen? If so then another alternative working modus on a daily basis might be more desirable.
This 'daily modus' could go along the lines of:
1. At the new trading day, i.e. the moment the new daily candle opens, we register the balance at that point. This would need 1 parameter; e.g. DailyWorkingBalanceRegisterTime = 00:00 am (in local time or server time). So DailyWorkingBalance = X as registered at time 00.00 am. This is the reference balance to start and work with throughout the entire day.
2. The lot sizes, TP, SL and everything that is based on balance, will be based on this DailyWorkingBalance = X.
3. The first BasketTP profit level will always be (1+BasketTPRatio)*DailyWorkingBalance. So even if our balance shrinks, we'd still aim to capture a profit and close out above that first DailyWorkingBalance we registered at the start of the trading day (or any other time).
4. Once a basketTP is hit, we update our DailyWorkingBalance to (1+BasketTPRatio)*DailyWorkingBalance.
5. Likewise all open trades within the same day will aim to hit this new TP, even if some trades have been closed off and our balance falls under 3000 EUR again.
6. Keep repeating 4 and 5.
7. Reset this DailyWorkingBalance every day at DailyWorkingBalanceRegisterTime (or alternatively have an option to let this go indefinitely) and start afresh.
This way we ensure that our balance keeps growing. On the other hand it'll also mean that the open trades will have to work harder to get to that TP - though I'm fairly positive that this working modus would be very feasible and more of a value-adding thing to your EA Mathias than something of detrimental value.
If it's already there and I have missed it, please accept my apologies then
Cheers
Aram
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. I will try the set file thing again and only edit the times one more time. We'll see. Its a shame its not as simple as that...thanks for your help, keep you posted.
