The New Beast!

[380273421]

Your quality modeling is ~ 50%. This means that half of the period in which you tested, did not exist. If you want real results of the backtest, try this http://eareview.net/tick-data.

Here's the result of using ducascopy backtestu tickdata. Modeling quality 99%.

thanks.and i will try again

[Xdba]

Hi Ribelo
I'm happy with most pairs backtesting but still getting quite high drawdown. Would you mind posting your setfile again - I don't see it in post #1.
Thanks, John

[qooyend]

Hi Ribelo
I'm happy with most pairs backtesting but still getting quite high drawdown. Would you mind posting your setfile again - I don't see it in post #1.
Thanks, John

High DD is natural to this strategy - Steve put it in the original first post that you need Balls of Steel to endure the inevitable DD. The key to winning with The Beast is IMHO striking a right balance between the low initial size and acceptable returns. If you decide not to hedge (it is a minefield - the retracement will come sooner or later, the trend may end when you open hedge) then you must be prepared to manually reenter into L4, L5 and even L6 and use Steve's MPTM http://www.stevehopwoodforex.com/phpBB3 ... ?f=21&t=64 to manage the basket.

I trade The Beast live. I have set my sizes to 1 2 6 12 15 18 and initial position is 10% of account balance. It backtests fine surviving long trending retracementless periods (up to 2 months, you can spot them easily on daily charts) which are dangerous to this counter trend system. The particularly important filter is the one that allows only two positions of a currency in a direction - when a currency has a fundamental reason to trend, it is likely that it will on several pairs. With this setup I target 5 to 10% a month and with compounding it suits me. Definitely not a get rich quick scheme, but I plan to be in the game next year...

And then there are other complementary systems that can be used together with this on the same account - breakout, trend-following, very interesting examples to be found here, thank you Steve once again for such a great place!!

Regards,
qooyend

[Xdba]

Many thanks for the in-depth reply.
John

[alex_forex]

Hi all

Little update of myfxbook :



Regards
Alex

[Ribelo]

Xode needed some fixes, so update in the first post.

[tex]

hi ribelo,

thanks for your work with the beast. have layed around with it the last few days. looks good so far;

would you mind sharing your setfile for this ea, for comparing purposes ?

thanks in advance,
tex

Xode needed some fixes, so update in the first post.

[Rascacio]

Hi Ribelo, the New Beast is throwing up an alert - GBPUSD SL/TP Order modify failed with error (1) No Error.

The BE blue line +20 pips profit is set. The error has been continuous for about 4 hrs.

In the meantime how can I stop it ?

Cheers

Edit : Just as an afterthought, the GBPUSD has now closed for a profit. I also had 'Show management alerts' set to false on this pair but to no avail.

I also have a USDCAD sell open in recovery with blue line at +20 pips and no error message. Maybe just an Empty4 glitch !!! as I've not had it before.

[Sgt.Forex]

Hi Ribello, All,
there must be something wrong with the open trades check or reentry pips. started a new demo and the bot open 2 EUR/AUD sell trades within a few minutes.

cheers

[Ribelo]

At the moment I passed a week without problems. He was a small mistake in the open trades check, but I fixed it in one of updatów this week.

Now the robot has to GBPCAD L3 recovery. Today also had L2 open on EURUSD. As soon as I notice some disturbing behavior in latest version, I'll do anything to find a bug.