Slopey Peaky Bob

[SteveHopwood]

Hi all,

@coders,

I am not a coder and this is probably because I do not understand the folowing code :

Code: Select all

void ShutDownForTheWeekend()
{

   //Close/delete all trades to be flat for the weekend.
   
   int day = TimeDayOfWeek(TimeLocal() );
   int hour = TimeHour(TimeLocal() );
   bool CloseDelete = false;
   
   //Friday
   if (day == 5)
   {
      if (hour >= FridayCloseAllHour)
         if (TotalCashUpl >= MaxAllowableCashLoss)//MaxAllowableCashLoss is a negative number
            CloseDelete = true;
   }//if (day == 5)
 
   //Saturday
   if (day == 6)
   {
      if (hour >= SaturdayCloseAllHour)
         if (TotalCashUpl >= MaxAllowableCashLoss)//MaxAllowableCashLoss is a negative number
            CloseDelete = true;
   }//if (day == 6)
   
   if (CloseDelete)
   {
      CloseAllTrades(AllSymbols, AllTrades);
      if (ForceTradeClosure)
         CloseAllTrades(AllSymbols, AllTrades);
      if (ForceTradeClosure)
         CloseAllTrades(AllSymbols, AllTrades);
   }//if (CloseDelete)
      

}//End void ShutDownForTheWeekend()

Reading the code/manual, I understood that :
1. TotalCashUpl is the sum in currency of all opened trades (all pairs included),
2. MaxAllowableCaskLoss is the maximum I accepted to loss at the end of the week, if the equity is lower than this value I expected the EA to close all trades (unless that mean if loss is greater, I accept to stay in position during the WE, hoping market will reverse next week...).

Let's say we are on friday 7 PM, just before the Forex closing bell. I have opening positions and the equity is -100, so this is 5 times lower than the MaxAllowableCaskLoss set to -20. I expected the EA to close all positions and to bank a -100 drawdown, but as -100 is not >= than -20 CloseDelete will remain false and opening positions won't be closed. Did I missed something?

On the other hand, if we are on saturday, market is closed so even if CloseDelete is set to true, CloseAllTrades can not execute OrderClose can it?

Thanks for your insigth.

Regards,

Yes.

[ThaiGuy]

Almost 3000 pips since May 22.

SPB rocks

I'm getting good results also... but not as good as yours Chris since around the same start date!

Do you also use the OOTB settings? or use a different SET?

I'm using GlobalPrime as broker btw...

Cheers mate

[rapple]

Almost 3000 pips since May 22.

SPB rocks

I'm getting good results also... but not as good as yours Chris since around the same start date!

Do you also use the OOTB settings? or use a different SET?

I'm using GlobalPrime as broker btw...

Cheers mate

Hi ThaiGuy

If you start posting your results on Thomas and Rene's database you will get access to huge number of setfiles and results including those of Chrisdk2018

http://www.stevehopwoodforex.com/phpBB3 ... 105&t=5423

It is incredibly easy to use and the more subscribers the more powerful it gets :youknow:

Cheers Richard

[ThaiGuy]

Hi ThaiGuy

If you start posting your results on Thomas and Rene's database you will get access to huge number of setfiles and results including those of Chrisdk2018

http://www.stevehopwoodforex.com/phpBB3 ... 105&t=5423

It is incredibly easy to use and the more subscribers the more powerful it gets :youknow:

Cheers Richard

OMG how can I have missed this, that site is awesome, what a brilliant idea and how handy!

Ok im gonna register now and see if I can share my results and settings, and check the ones of others

Thanks Richard!

TG.

[PeterUK]

Hi team,

To prevent overtrading on a small live trading account, do you think we should add a feature from POS so that it works OOTB?

MaxPairsAllowed: this is a filter to help avoid over trading. It tells PoS how
many individual pairs are allowed to be trading at any one time.

Using "OnlyTradePositiveSwap" also helps minimise overtrading with small accounts and I have enabled this in SPB trading live

These two variables has enabled my small live trading account with GP to grow with POS EA... this info may benefit others using SPB.

Remember to trade to live another day... and be patient when you enter a period of drawdown and the positive swap helps

Regards,

Peter

[SteveHopwood]

Hi team,

To prevent overtrading on a small live trading account, do you think we should add a feature from POS so that it works OOTB?

MaxPairsAllowed: this is a filter to help avoid over trading. It tells PoS how
many individual pairs are allowed to be trading at any one time.

Using "OnlyTradePositiveSwap" also helps minimise overtrading with small accounts and I have enabled this in SPB trading live

These two variables has enabled my small live trading account with GP to grow with POS EA... this info may benefit others using SPB.

Remember to trade to live another day... and be patient when you enter a period of drawdown and the positive swap helps

Regards,

Peter

Great idea Peter, and one which I implemented immediately in V 1m in post 1.

For those of you new to all this, PSB baskets can hang around for a while and it can be painful to watch negative swap building hugely on the high swap pairs. This filter might need refining because it only hurts on the high swap pairs when we are trading in the negative swap direction; lower swap pairs do not need our attention. I need to contemplate this.

For those of you new to all this, the relevant pairs are AUDxxx, NZDxxx and CADxxx pairs. Trade them in the wrong direction and watch the swap mount up against you with astonishing rapidity.

Having said all this, it will be interesting to see how all the OOTB users fare when the default OnlyTradePositiveSwap = true kicks in. Here at PSB, I might have acted too quickly in response to Peter's post.

Ideas, folks?

In the meantime, my accounts look to be heading towards their second OOTB basket TP this week. No guarantee they will actually make it before heading back into our usual DD doldrums. We shall see. One more round of basket TP's on my live trading accounts will have added over $1,000 to them since loading up SPB.

Fingers crossed.

[SteveHopwood]

Going back over Peter's post brings me to this bit of it:

Remember to trade to live another day

This is something that we learned from nanningbob - and if you do not know whom he is then you really have not been taking any notice of what has been going on for years and deserve to lose all your money.

Tiny lots, folks. Forget the, "I risk 10% of the account on every trade" cretins. Guess what will happen to them eventually. Just learn to trade so that if shit happens - and it will - you still have enough cash left to try again tomorrow.

An example of what I mean? Here it is.

My oft-repeated mantra is, "Only trade with cash you can afford to lose." I am trading SPB at 0.01 lots per $4,000 dollops on my main live trading account and my lot size is 0.03. You can do the arithmetic - I am not rich. My margin level only drops below my comfort level of 1500% occasionally. As the account grows, I shall gradually drop this lots per dollop. OK, so I could afford to lose the account through overtrading now, but what if the account reaches $50,000? Or $500,000?

Imagine blowing that little lot and restarting. Perhaps best not to. I have not been there yet, but I suspect that if I had a $50,000 account that I would be trading lot sizes that did not drop my margin percent below 5,000% and still be making a hell of a lot more money in a day than I make in a month these days.

Nice post Peter.

I suggest that everybody takes notice.

[Redboros]

Hello Steve and Peter:

Regarding the filter OnlyTradePositiveSwap=true, I like Steve idea to convert or add a new filter defined by value, for example OnlyTradeSwap >= -7.00 (the usual comission for a round lot as a baseline).

It also could be applied to the independet (CAD/AUD/NZD)PairsPositiveOnly.

Regards,

Redboros

[alecsa72]

Closed my SPB for the week with 6.77% equity increase for the week (this is small live account).
This week have been tough with fairly moderate DD first 3 days of the week - you can see the red line on equity chart below, but recovered nicely since yesterday. I'm not going to be greedy and closing all trades until next week

Capture.PNG

Total account equity increase: 57% - started with PoS (Gertjie setfiles) in May, then switched to SPB because PoS was not giving any trades

Capture_2.PNG

Edited to add: a lucky escape today, just to reiterate "not being greedy" helps. I forgot about ECB rate decision today. I closed my SPB on live account, but left a demo account running with different parameters - I am trying H4 SS timeframe instead of D1.

After ECB decision everything turned sharply into reverse gear and I am having a massive DD on my demo account now. Will see how the expert will handle it in the days to come ...

[SteveHopwood]

Hello Steve and Peter:

Regarding the filter OnlyTradePositiveSwap=true, I like Steve idea to convert or add a new filter defined by value, for example OnlyTradeSwap >= -7.00 (the usual comission for a round lot as a baseline).

It also could be applied to the independet (CAD/AUD/NZD)PairsPositiveOnly.

Regards,

Redboros

That is a good idea. I shall add it.