POOLER/SAN Stunning generosity

[APQN]

Philip, I read your post again and this bit caught my eye:

Yet this EA is a pip machine (I got between 3000 and 4000 per month on demo from Nov last year) but it needs fairly deep pockets. But I would like this to work for the average trader (like me) who can't afford a huge account (yet).

First thing to do is to limit the number of pairs that can be open. Yes?

I was just curious to know how much $$ we need in our account to trade all products listed in Phillip's spreadsheet. So I did some calculation in the spreadsheet attached.

If my calculation is right, we need a $17,000 account to trade all products listed my the attachment with 0.01 starting lot size. That's if you are comfortable with a potential 50% drawdown on the account at the worst case scenario.

Hope this helps,
APQN

[ananthhh]

I have a doubt.
This is not a grid kind of trading ?

Thanks

[Brackenhaus]

Many thanks for sharing this.
-I also totally agree with Bunks and mrpipstrader

Thanks Phillip & Steve.

[SilverTrader]

Firstly many thanks for the generosity from a fellow South African.
First issue, is this thing is building huge log files?
2012.11.02 06:03:10 FXPooler EA v2.1 GBPUSD,M15: subTotalClosed running
Not sure what that means or why it needs to be printed, but there are thousands of lines saying the same thing when loaded.

Again thanks.

[Pooler]

Hi all,

I'll post some charts then hopefully that will clear some things up. First chart EurUsd the black pivot line I drew in because after 06h00 (session closing time) all pending lines disappear. You can see price jumped to life at 05h00 and filled buy limit (BL1). If the price had to retrace from there then TP would have been the first red dotted line (I also drew that in). But price continued and filled BL2 so TP moved to where it is now on the chart.

While I was typing price moved and its almost hitting TP (2nd chart) and before I could finish this sentence TP filled and as you can see in the account at the bottom of chart 3 a total of $ 1.49. On that same chart you can GU only filled BL 1 so waiting for it to retrace now.

I'll start a second post to answer some more questions--If you don't mind me prattling along.

Cheers

[Maurik]

Aaand...herein lies the problem. If a trade runs to OR level 10, even if you started at .01 lots then you have .01 + .02 + etc and you have .55 lots open in total. If you are trading 10 plus pairs and you have a small account ...ye olde draw down is gonna getcha.

Yet this EA is a pip machine (I got between 3000 and 4000 per month on demo from Nov last year) but it needs fairly deep pockets. But I would like this to work for the average trader (like me) who can't afford a huge account (yet).

I'm thinking somehow there must be recovery/method to prevent draw down while this happens. (Today I was thinking to use Bobs new scalping method with Opening price and Daily Pivot after Asian close to offset any trades in deep draw down battling to TP with PoolerSan. Just a thought. Whenever I'm confused Bob normally has the answer somewhere in his threads .

I hope we can solve this because then this will be a very productive EA.

Hi Philip, Steve,

Me and my business partner are trading a similar trading strategy 24 hrs per day instead of only the asian session. So I completely understand your fear of enormous drawdowns. You should be scared .

We took the following measures:

1) trade ranging pairs especially. The larger the volatility of a pair, the larger the grid size we use. So eg trading AUDNZD 10 pip steps before re-entry should be no problem. When trading EURUSD you might want to be a bit more careful and set the grid size a bit higher.

2) Increase the grid size (reentry point) when market starts trending against you.
Base that on
a) absolute pips moved or
b) percentage of margin used or
c) absolute drawdown or
d) percentual drawdown

3) Trading much smaller lotsizes. Imagine - We are trading this system on a 50k Euro account starting with 0.01 lots. Pips come rolling in and we make money every day. Still our largest priority is not to blow an account. (And I think so should yours be.)

I will have a bit of time to play around with this EA during the weekend and next week. I haven't had the chance to look into the code yet. In the meantime, if you have any specific questions, feel free to ask!! I hope I can help you with it.

Cheers, Maurik

[pierrejean75]

Thank's a lot. I will test your ea and report here with pleasure

[araxes]

A big Thank You to Philip for making this available to us all; from a fellow Saffer. Also to Steve and all on this forum for their sharing of insight and codes. I trust that we can make this work profitably. I am placing it om demo today to see what goes for what.
Good pips to all!

[G4s]

Hi Steve / Pooler
Been a lurker for a while but this is my first post here.
Firstly many thanks to Pooler, Steve and the many other brains on this forum.

I have been trading some commercial grid / martingale strategies live for over a year now. I use Bob's TMA to determine trend/range and only trade them when the Slope is between 0.8 to -0.8.

What immediately comes to mind is that might help limit DD with this EA?

[niepce]

Thanks for this strategy/EA. I am not going to trade this, because it goes over my psychological limits, I know I will not stand such DD. But anyway, if you can stand it, go for it. Thousands of pips a month is a great result !