Pitbul: Brian's strategy automated

[bobasker]

So far pitbull is cruising along nicely, with a small drawdown, I was wondering if there was an indicator that can plot current profit/drawdown in a linear fasion? would be good to have a visualisation of profit/drawdown during the periods away from the computer.

[james666]

From my oown experience, the best way to handle drawdown is by manual intervention. For example, this EA has been trading for about a week now. I have £500 profit and -£240 in DD. DD was a lot more earlier but the market had a slight bounce after the labvour figures. I have closed everything out now as I am in profit for the week and will leave it. I will probably start again next week now.

If I leave it, DD could be a lot less. At the same time, it could be in DD for weeks! In trading, we manage our emotions, our DD and our greed too. Its never too soon to take profit at a defined level. Thats just my take. If this kind of intervention could be built into the strategy, that would be awesome.. but it cant.

Other ideas I have had for DD control have been described in this thread and work equally well. The whole losing basket can be hedged to slow down any more potential loss.

[garyfritz]

Bob, you could set up an account in myfxbook.com and point it at your account. It's very easy to set up and you get some nice balance/equity charts in addition to a ton of other analysis.

[jb68]

If someone think that I generate a stupid ideas here then it is not so ... I really try give some effort here. I just worry little about that we cant control DD .... or it is hard. I dont believe to manage DD manually. So my next "stupid" idea is follow: what you think if EA makes after relative two orders with strongest and weakest pair with size what is starting lot + starting lot. If this dont help and after next relative time I have there still some negative amount of money then EA makes again two orders (strongest and weakest) but now it is three lot size.

I did something similar manually and worked somehow.. somehow I mean after 2 days I still was in DD but when I closed everything today I end up with about 30% in profit.

Aside from that, after looking at brian's videos about DD I closed manually everything in profit but not listed on top and open new ones. At the beginning I increased lot size every time but it went crazy so I decided to not take this way and keep lots no more than 3 * starting lot. I did this again and again for about 100 trades. I tried to do it as automated as possible without looking at MAs or any other indicators. However in the end I cheated a bit and looked at MAs 50 on 15 minutes when I closed.

[jb68]

I have been in this forum for a while however do not post much, reason being did not have resources to test systems. I have placed pitbull ea on a $5000 demo account (FXDD) (2.12.2012), OOTB settings ... basket TP $5.00 , lots 0.01 . as of this post current balance $5046.33, 0 open trades. Now drawdown is relative, haven't seen any considerable drawdown at this point. even if I am down 1000 pip thats approx. $100. Bottom line, don't over leverage your account.

If we risk $100 to make $5 we need at least 97% win ratio.

I'm suggesting some features to add, may be Steve might look into.

1) Adding a Basket Stop loss to close everything if is going in DD more then a fixed amount. (ex $20)
2) Open new trades when situation on top trades indicator change and close only the ones having Profit.
2 a) Monitor Account equity and if equity > Account balance at when we open first trades then close everything.

1) This will be super useful to determine a win ratio in testing and lot sizing.
2) This is what did based on what I steal by looking at Brian's videos about DD, any suggestion here greatly appreciated..

[junglist00]

Point I am trying to make is don't over leverage, according to the Pitbull teaching that $100 drawdown is part of running a business ... as long as we keep making money $5 , we should be able to afford a $100 drawdown every now and then if we take $100 loss then your percentage for wins would be correct , however we are not taking a loss.

[james666]

anyone else getting multiple trades on the same pairs at the same price? Almost all of my open positions are duplicates.

[Gamma_gallus]

anyone else getting multiple trades on the same pairs at the same price? Almost all of my open positions are duplicates.

Not with PB but actually just recently faced the same situation with Gaeme and TIB, sometimes not only in double but much more, really weird. It happened for sure on GBPAUD, and perhaps on another pair too, but I'm not too sure about this ..

[viracoccha]

I have been in this forum for a while however do not post much, reason being did not have resources to test systems. I have placed pitbull ea on a $5000 demo account (FXDD) (2.12.2012), OOTB settings ... basket TP $5.00 , lots 0.01 . as of this post current balance $5046.33, 0 open trades. Now drawdown is relative, haven't seen any considerable drawdown at this point. even if I am down 1000 pip thats approx. $100. Bottom line, don't over leverage your account.

If we risk $100 to make $5 we need at least 97% win ratio.

I'm suggesting some features to add, may be Steve might look into.

1) Adding a Basket Stop loss to close everything if is going in DD more then a fixed amount. (ex $20)
2) Open new trades when situation on top trades indicator change and close only the ones having Profit.
2 a) Monitor Account equity and if equity > Account balance at when we open first trades then close everything.

1) This will be super useful to determine a win ratio in testing and lot sizing.
2) This is what did based on what I steal by looking at Brian's videos about DD, any suggestion here greatly appreciated..

It seems that I must eat myt words .... at the moment EA works fine ... I started Wednesday with 50 demo dollars and at this moment I have 97 demo dollars. Not bad.
So what is my thoughts about jb68 ideas:
1) First of all, I think that EA must be easy. That makes his fast. If I want use BasketStop then I use some multy purpose trade manager.
2) I almost agree with second idea. New trades may be bigger lots and I would not close trades what are in profit. Because this help me to cet my CashTakeProfit. But I think that profitable trades should set in this moment ZeroStopLoss lines.

[james666]

I have just restarted the EA again, on demo, its not working now!

I closed all positions manually yesterday... and then reloaded the EA. Anyone else faced this issue before?