Need help for Bob's old EAs 100X40

[Nipponho]

Help with Bob’s Old EA

Hi,
These 2 are among Bob’s debut releases at Forex Factory in late 2008 before he attained stardom. This is a martingaled range trading EA that Bob has abandoned long ago. He has advised me that it may no longer be profitable. But it was very exponentially profitable in those days & I was intrigued & would like to give it a try on demo. Anyway, no harm if it is no longer profitable since it’s a only demo. If it is still profitable, then I may have strike lottery.

I put these EAs on Cowboy IBFX mini demos, 18 pairs, OOTB. It doesn’t trade at all. This EA is supposed to be very active. Could some kind souls please help check the codes & guide me through trouble shooting?

-EA loaded successfully, no error message on journal.
-Smiling face
-Expert Advisor icon is Green
-Tools/Options/Expert Advisors, left most boxes all ticked. Subset boxes not ticked.
-Expert Advisors/Properties/Common Tab, Long & Short positions, Allowed Live Trading

Or could it be recent Empty4 builds has rendered this old EAs no longer workable?

Thanks a zillion!

[nanningbob]

Help with Bob’s Old EA

Hi,
These 2 are among Bob’s debut releases at Forex Factory in late 2008 before he attained stardom. This is a martingaled range trading EA that Bob has abandoned long ago. He has advised me that it may no longer be profitable. But it was very exponentially profitable in those days & I was intrigued & would like to give it a try on demo. Anyway, no harm if it is no longer profitable since it’s a only demo. If it is still profitable, then I may have strike lottery.

I put these EAs on Cowboy IBFX mini demos, 18 pairs, OOTB. It doesn’t trade at all. This EA is supposed to be very active. Could some kind souls please help check the codes & guide me through trouble shooting?

-EA loaded successfully, no error message on journal.
-Smiling face
-Expert Advisor icon is Green
-Tools/Options/Expert Advisors, left most boxes all ticked. Subset boxes not ticked.
-Expert Advisors/Properties/Common Tab, Long & Short positions, Allowed Live Trading

Or could it be recent Empty4 builds has rendered this old EAs no longer workable?

Thanks a zillion!

It is probably because they set a TP at the time of the trade which most brokers no longer allow. Set TP and SL to 0 and they should work. You will need to use Steve's MPTM to set you SL and TP for the trades after they have been posted.

[nanningbob]

The 100x40 was my favorite EA until the 2008 Oct. move. I would think with some adjustments that EA would work great on some currency pairs today.

[Nipponho]

Hey Bob,

Thanks for your reply.

I set the extern TP=0, and I enter range=400 instead of 40 to match Cowboy IBFX’s 5 digits, it started taking trades. There is a function called “CriminalIsECN=True”. If I can find the code & know exactly where to paste it, it may solve the problem.

I am not sure if steve’s mptm is compatible with this ea. We need to disable the EA before closing the whole basket using close all script, but I don’t think mptm can switch the EA off. Immediately after order is closed, a new order will open. Due to latency, I am not sure if mptm will mistakenly close off the new orders as well.

Seems to be still profitable. I followed your instructions closely. US$3k, 19 pairs, 0.01 lot, pennies. Once basket hits $1 or more total profit for all pairs, I close all pairs (including losing ones) and restart immediately. I started yesterday, closed a few baskets & it made US$9. Lot size 0.01 is prudent. None of the pairs reached level 3 so far. I am not sure if 0.03 is too risky, will try it later. Some people in the past trading riskily 0.01 dimes on US$3k account.

Yeah I know u had a lot of success on 100X40. I am demoing 100x40 now. If I keep closing baskets frequently, the death trade might be indefinitely avoided

[nanningbob]

I did a quick check and the one currency pair this thing probably would work great on is the gbp/cad. You have convinced me to dust off the old EA and try again.

[Nipponho]

Hi Bob,
According to your instructions, US$3k on pennies account at 0.01lots, 100 pips = US$1. To make 1% per day, we need to close 30 baskets to total US$30. Based on my observation, each basket takes about 2 hours to reach US$1 profit. Closing 7-8 baskets each trading days looks possible, but to close 30 baskets looks difficult. The only way is to trade dimes account so that 100 pips =US$10, and we just have to close 3 baskets each day. I’m cracking my head what is a good combination of lot size vs capital as this involves risk return trade off.

So far, nothing goes beyond level 2. I only see second level on 2 or 3 pairs each time on each basket. The margin usage + floating loss is small. Which makes me wonder is US$3k on pennies account at 0.01lots overly prudent such that it produces very dismal returns.

[nanningbob]

I am not sure what kind of figures you are using but a 1% trade is figured by how many pips you need to make 1%. That is usually figured by the SL. If you have 3000 dollars then 1% of that is 30 dollars. A 1.00 per pip trade would then mean a 30 pip SL or a 30 pip TP would equal 1% of your account. Multi level type trades would wipe your account out doing that. If you traded 10 cents a pip then you would need 300 pips to equal to equal a 1% increase of an account. If you trade 10 pairs you would need to average 30 pips profit on each pair to get to 300. 8 pairs you would need 38 pips average on each pair to make 1%. On 3000 dollars if you would trade 3 cents you would need 1000 pips if you trade 9 cents you would need 333 pips total. You sit down and do the math on how many pairs you want to trade and what it would take to get to your 1%.

[Nipponho]

Hi Bob,

This is my 100x40 demo. Started on 28 Feb, exactly 2 weeks, 10% net.
US$3000
21 pairs
0.01 lots per pair where 1 pip = US$0.10(dimes account)
Close when profit of basket hits US$10 profit
Close every night before 2pm EST even if basket is at loss to avoid death trade
Cannot use MPTM
Drawdown was never more than $200

Yellow portion are mistakes made in settings due to wrong lot size & entering 40 pips instead of 400. Result of these mistake is US$74 loss, which means profit could have been US$400 instead of US$325.