Awesome - original version

[sugardaddy]

Well this is the result for 2day. Somehow in my settings there was 1 dollop 10000
where at other positions there was 1000 so I changed that. This looks very promising!

20170802results.png

thanks,

Pete

[1Direction]

This is a total dynamic discussion on its own, and I dont think worthy of detracting from the thread. One thing I have to say is that If I had a 500 dollar investment for example I would make my dollop .01 for every 500 dollars and look at only max trades at 3 or 5 and thats becoming risky. Obviously take profit would become adjustable at say 1 dollars or so. We have to be realistic. Well 100 000 dollars is totally unrealistic and I want to slap you for that

Thanks for the info greatly appreciated.

The basket profit default to 5$ and is not a pip value therefore is in direct relation to the 0.1 lot traded by Steve on his setup if we use his set file but trade 0.01 lot then I believe like you that the basket value should be reduced to 1 to keep the correct relation.

I've a 100k demo account because I find this easier to handle than 10x 10k account to test all the goodies from SHF. I stay realistic and also use the recommended 0.01 to 0.1 lot size.

Who knows with awesome we might soon all be trading 100k accounts (dream)

[TraderJoeForex]

Can someone please confirm this:

Steve's Awesome M1 Basket.set use
Trade1AsBasket=true
Trade1BasketCashTarget=5

I'm assuming this is based on a 10'000 account as per
Trade1Lot=0.01
Trade1LotsPerDollopOfCash=0.01
Trade1SizeOfDollop=10000.0

Now it will obviously be easier to reach Trade1BasketCashTarget=5 when trading bigger lot size.

If this is the case then Trade1BasketCashTarget=5 should be scaled up or down based on the equity account size?

Thanks in advance

The Awesome M1 Basket set file was actually my creation as Steve says in Post 1. So hopefully I can help clarify.

I increased the Trade1Size of Dollop from 1000 to 10,000 because this is what I would feel comfortable trading this on a live account.

With this set file I allow a maximum of 10 positions per pair including recovery to average in. Think about that for a minute. That's 10 x 0.01 = 0.1lot max per pair which is about right for a 10k account.

Already you have seen the profits that this bot can deliver. In two weeks including my first few days testing with Steve where there were things that needed to be put right I have averaged £100 per week trading 0.01. That's a pretty positive baseline and if you are desperately seeking greater profit than this on a 10k account then you will probably lose that account sooner rather than later.

Keeping a small trade size should allow an account to compound and grow safety come rain or shine or even black swans.. personally If I had 10,000 available for trading I would only put 20% of it in a trading account at one time. I would trade the same position size 0.01 and if there was good reason I could always add more funds to provide margin in a sticky situation, or if a black swan comes along and I lose the account before I have withdrawn my initial profits well I still have 80% left to start again.

So think about this for a minute before looking to max out the leverage.

I chose a £5 basket size as from a bit of forward testing this seemed reasonable with the 0.01 lots but this is absolutely something that is worth playing around with. Would a £1 basket size close 5x as many and end up more profitable.. who knows.. this is something that would be great for someone to test and this is the kind of thing that would be really helpful for people to contribute with. Let's try all the possibilities but increased leverage shouldn't be one of them just yet in my humble opinion regardless of your demo account size.

[TraderJoeForex]

Just to add you should have noticed that the recovery trade spacing is much tighter (20/2 = 10pips) with the M1 basket set and with no emergency SL. So this is the reason for a much smaller position size because you will have more trades open per pair at any one time.

[1Direction]

The Awesome M1 Basket set file was actually my creation as Steve says in Post 1. So hopefully I can help clarify.

I increased the Trade1Size of Dollop from 1000 to 10,000 because this is what I would feel comfortable trading this on a live account.

With this set file I allow a maximum of 10 positions per pair to average in. Think about that for a minute. That's 10 x 0.01 = 0.1lot max per pair which is about right for a 10k account.

Already you have seen the profits that this bot can deliver. In two weeks including my first few days testing with Steve where there were things that needed to be put right I have averaged £100 per week trading 0.01. That's a pretty positive baseline and if you are desperately seeking greater profit than this on a 10k account then you will probably lose that account sooner rather than later.

Keeping a small trade size should allow an account to compound and grow safety come rain or shine or even black swans.. personally If I had 10,000 available for trading I would only put 20% of it in a trading account at one time. I would trade the same position size 0.01 and if there was good reason I could always add more funds to provide margin in a sticky situation, or if a black swan comes along and I lose the account before I have withdrawn my initial profits well I still have 80% left to start again.

So think about this for a minute before looking to max out the leverage.

I chose a £5 basket size as from a bit of forward testing this seemed reasonable with the 0.01 lots but this is absolutely something that is worth playing around with. Would a £1 basket size close 5x as many and end up more profitable.. who knows.. this is something that would be great for someone to test and this is the kind of thing that would be really helpful for people to contribute with. Let's try all the possibilities but increased leverage shouldn't be one of them just yet in my humble opinion regardless of your demo account size.

TJF thank you so much for the clarification extremely helpful.

I'll test different values for the basket and report back with my findings. Regarding risk exposure I'm 100% with you and after the last video posted by Steve we know smaller accounts are safer!

[TraderJoeForex]

Hi,
And what about Red (major) News ? What do you do ?
And also what do you do Friday evening ?

With the M1 basket set running 0.01 on all pairs I would suggest that keeping it running is fine. If there is a big gap down on one pair there may well be a gap up on another so it should average out in the end.

If you are running a different set file with larger lot size I would say usual precautions apply i.e. if you have profit on the table before big news or before the weekend then bank it while it's there. The EA will always re-enter again later...

On this note Steve it may be helpful to have a "make this last basket" in the settings for global basket close so that the EA stops trading once a global basket has closed if this is selected?

[SteveHopwood]

On this note Steve it may be helpful to have a "make this last basket" in the settings for global basket close so that the EA stops trading once a global basket has closed if this is selected?

Yes. I am thinking of adding both a daily profit target and a weekly profit target so the bot will knock off for the day/week whenever these targets are reached. Any suggestions how to calculate these figures gratefully received.

In the meantime, I have coded a maximum spread function a la my single pair EA's. I shall post this tomorrow.

[manuoz]

Hi,
And what about Red (major) News ? What do you do ?
And also what do you do Friday evening ?

With the M1 basket set running 0.01 on all pairs I would suggest that keeping it running is fine. If there is a big gap down on one pair there may well be a gap up on another so it should average out in the end.

If you are running a different set file with larger lot size I would say usual precautions apply i.e. if you have profit on the table before big news or before the weekend then bank it while it's there. The EA will always re-enter again later...

On this note Steve it may be helpful to have a "make this last basket" in the settings for global basket close so that the EA stops trading once a global basket has closed if this is selected?

So according to your method with a initial trading capital of 1000 USD , the minimum open trades per pair would be 2? no more i think?

whatever we try i would like to thank both u and steve for this great work. congrats !

[OmarSM]

Steve, TJF et all,
Thanks!!! This is really Awesome!!

Using the M1 Basket set file, 2 days running and so far sitting on 1.6% profit and 0.8% DD.
The demo account is a $3000 equity with 0.01 lot sizes running with all pairs.

Will keep reporting.

[TraderJoeForex]

So according to your method with a initial trading capital of 1000 USD , the minimum open trades per pair would be 2? no more i think?

If you mean the maxtradespertimeframe in the fill the gap settings then I am not sure 2 would be sufficient with this strategy. With a 1k account you would be better off limiting the pairstotrade to just the major pairs and reducing the basket profit instead. Try both and see what happens