Charles,
Many thanks for you response and willingness to let me have your set files. They confirm that you are using the Equity stop (set to true) unlike the original set file.
I have loaded them up and will have a play around with them.
Thanks again.
Lee
Another Grid Trader!!
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manni
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- Location: Sweden
Another Grid Trader!!
Thanks for share 
1M TF with 0.1 in startlot running here: http://www.myfxbook.com/members/mmnet/s ... wM5dVH46ao
1M TF with 0.1 in startlot running here: http://www.myfxbook.com/members/mmnet/s ... wM5dVH46ao-
CharlesKiwitrader
- Trader
- Posts: 54
- Joined: Sun Jun 22, 2014 11:01 am
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Hi Manni and others,
Not sure how profitable the 1m TF for USDJPY is, but you can try EURJPY ans GBPJPY on RSI 24 with same other settings ta. Also, you can widen out the RSI tops and bottoms to 70 and 30 for the RSI 24, and see if that helps close a better profit basket.
I did have the USDJPY on the 24 RSI also, but found not profitable on demo, but the RSI 40 seems better for USDJPY and other USD based currencies.
Have fun etc,
Regards, Charles
Not sure how profitable the 1m TF for USDJPY is, but you can try EURJPY ans GBPJPY on RSI 24 with same other settings ta. Also, you can widen out the RSI tops and bottoms to 70 and 30 for the RSI 24, and see if that helps close a better profit basket.
I did have the USDJPY on the 24 RSI also, but found not profitable on demo, but the RSI 40 seems better for USDJPY and other USD based currencies.
Have fun etc,
Regards, Charles
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manni
- Posts: 2
- Joined: Tue Jun 25, 2013 6:28 pm
- Location: Sweden
Another Grid Trader!!
Yes, 25 RSI seams to low for USDJPYCharlesKiwitrader » Today, 06:39 wrote:Hi Manni and others,
Not sure how profitable the 1m TF for USDJPY is, but you can try EURJPY ans GBPJPY on RSI 24 with same other settings ta. Also, you can widen out the RSI tops and bottoms to 70 and 30 for the RSI 24, and see if that helps close a better profit basket.
I did have the USDJPY on the 24 RSI also, but found not profitable on demo, but the RSI 40 seems better for USDJPY and other USD based currencies.
Have fun etc,
Regards, Charles
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CharlesKiwitrader
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- Joined: Sun Jun 22, 2014 11:01 am
Another Grid Trader!!
Hi Manni,
Sorry for misinformation, but the 24 I referred to is the RSI value, not the levels. So, the bigger the number of the RSI value the slower it takes the price to reach extreme.
Also, because 1min TF is very fast for this system, the bigger RSI value for USD the better as it does not go extreme too often.
Also, to clarify if you wanted to try out the EURJPY or GBPJPY, you would want to setthe value of RSI to 24, and the levels to 30 and 70. This works only for currencies that are very volatile.You would understand a lot more if you try this EA with 1m TF on visual strategy tester and then change the value of the RSI. The 1m TF is not as set in concrete as the fully tested 4hr TF though, so plenty of room to come up with a possibly stronger system.
Regards, Charles
Sorry for misinformation, but the 24 I referred to is the RSI value, not the levels. So, the bigger the number of the RSI value the slower it takes the price to reach extreme.
Also, because 1min TF is very fast for this system, the bigger RSI value for USD the better as it does not go extreme too often.
Also, to clarify if you wanted to try out the EURJPY or GBPJPY, you would want to setthe value of RSI to 24, and the levels to 30 and 70. This works only for currencies that are very volatile.You would understand a lot more if you try this EA with 1m TF on visual strategy tester and then change the value of the RSI. The 1m TF is not as set in concrete as the fully tested 4hr TF though, so plenty of room to come up with a possibly stronger system.
Regards, Charles
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cherno99
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- Joined: Fri Feb 28, 2014 12:18 am
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You mentioned in a previous post that on some pairs you changed the EA settings for MultiLotsFactor and StepLots. Do you have any more details about these settings? Thanks!
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CharlesKiwitrader
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- Joined: Sun Jun 22, 2014 11:01 am
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Hi Cherno99,
On page 2 of this topic I talked about the settings which have been modified as the equity stop has been hit, causing losses. At the bottom of that message I added an attachment with all the set files I use with the 4hr TF. These set files are well described, for example, Sebgrid1.5a.1.25.20.equitystop.10, OR something like that.
This description shows the multiplier set to 1.25, the step set to 20, and the equity stop set to 10%. Also in that post I mentioned the need to probably back off all pairs to this setting for safer trading so the equity stop doesn't get hit as often, but as some pairs are more aggressive than others it may be ok to leave the slower ones on the more aggressive setting.
Regards, Charles
**** Note for others reading this-
The code has a magic number system to automate this process, so the only reason I have different set files for the different currencies is for the 'order comment' to show up on the trade station, but that is not necessary, as you can use a generic set file. The generic set file would either have the multiplier set to 1.5, and the step set to 10 for the most aggressive, or multiplier set to 1.25 and step set to 20 for a less aggressive set.Obviously you can choose a combination anywhere between these or something completely different.
The least aggressive set will still be profitable and may be the most conservative with the equity stop function set to true, although for those with big balls just try the most aggressive set with no equity stop, as you can suffer from draw down of equity but usually no margin calls with a $2.5k start, also I have seen one of my demos go from $5k to $26.8k in just over 2 months with no equity stop, but really scary to start with until profits build up equity.
On page 2 of this topic I talked about the settings which have been modified as the equity stop has been hit, causing losses. At the bottom of that message I added an attachment with all the set files I use with the 4hr TF. These set files are well described, for example, Sebgrid1.5a.1.25.20.equitystop.10, OR something like that.
This description shows the multiplier set to 1.25, the step set to 20, and the equity stop set to 10%. Also in that post I mentioned the need to probably back off all pairs to this setting for safer trading so the equity stop doesn't get hit as often, but as some pairs are more aggressive than others it may be ok to leave the slower ones on the more aggressive setting.
Regards, Charles
**** Note for others reading this-
The code has a magic number system to automate this process, so the only reason I have different set files for the different currencies is for the 'order comment' to show up on the trade station, but that is not necessary, as you can use a generic set file. The generic set file would either have the multiplier set to 1.5, and the step set to 10 for the most aggressive, or multiplier set to 1.25 and step set to 20 for a less aggressive set.Obviously you can choose a combination anywhere between these or something completely different.
The least aggressive set will still be profitable and may be the most conservative with the equity stop function set to true, although for those with big balls just try the most aggressive set with no equity stop, as you can suffer from draw down of equity but usually no margin calls with a $2.5k start, also I have seen one of my demos go from $5k to $26.8k in just over 2 months with no equity stop, but really scary to start with until profits build up equity.
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cherno99
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Thanks CharlesKiwitrader, I have seen your post on page 2 and it is that post I was referring to in my previous post. The equity stop setting does not need any further explanation and thanks for all the individual set files per pair!
But my question was not exactly regarding to what values to use for both MultiLotsFactor and StepLots but rather what these settings mean and affect. Thanks again!
But my question was not exactly regarding to what values to use for both MultiLotsFactor and StepLots but rather what these settings mean and affect. Thanks again!
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CharlesKiwitrader
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Hi Cherno99,
Ok, I see now what info I think you need. I will see if I can explain myself etc.
Most grid trading ea's place trades every step measurement. I.E. If the trade gets 'x' distance from the previous trade (say 10 pips) the EA will place another trade, as most grid traders I have experienced place trades against the trend using a multiplier to gain a basket of trades in profit. Now, with this EA, Sebgrid, the EA only places a new trade at the end of a candle's TF, so e.g., if using a 4hr TF and the trade goes against us by 50 pips the ea will only put on 1 trade not 5 if you have set the step to 10 pips, BECAUSE the ea is only allowed to place a trade at candle close, not via some numerical method. Or in a t4rend that goes against us for say 1000 pips (Eurnzd)the ea may onloy place 10 to 50 trades, and not the 100 that other ea's must place. Obviously extreme example etc, and without equity stop etc. This also gives us the trader an edge so he account is not under as extreme pressure if this occasion occurred without a retrace. The beauty of the system is finding currencies that retrace often, and don't go on massive trending runs like EURNZD, because then your equity remains intact and there is not much need for the equity function.
The lot multiplier is far simplier and works off a maths formula, something like 1,2,3,5,8,13,17,31,50,1 etc using a 1.5 multi lots factor, or 1,2,4,8,16,32,64,1.28,2.56 etc for a multi lots factor of 2.
Hope this helps, and hear from you as the successful machine rolls on.
Regards, Charles
Ok, I see now what info I think you need. I will see if I can explain myself etc.
Most grid trading ea's place trades every step measurement. I.E. If the trade gets 'x' distance from the previous trade (say 10 pips) the EA will place another trade, as most grid traders I have experienced place trades against the trend using a multiplier to gain a basket of trades in profit. Now, with this EA, Sebgrid, the EA only places a new trade at the end of a candle's TF, so e.g., if using a 4hr TF and the trade goes against us by 50 pips the ea will only put on 1 trade not 5 if you have set the step to 10 pips, BECAUSE the ea is only allowed to place a trade at candle close, not via some numerical method. Or in a t4rend that goes against us for say 1000 pips (Eurnzd)the ea may onloy place 10 to 50 trades, and not the 100 that other ea's must place. Obviously extreme example etc, and without equity stop etc. This also gives us the trader an edge so he account is not under as extreme pressure if this occasion occurred without a retrace. The beauty of the system is finding currencies that retrace often, and don't go on massive trending runs like EURNZD, because then your equity remains intact and there is not much need for the equity function.
The lot multiplier is far simplier and works off a maths formula, something like 1,2,3,5,8,13,17,31,50,1 etc using a 1.5 multi lots factor, or 1,2,4,8,16,32,64,1.28,2.56 etc for a multi lots factor of 2.
Hope this helps, and hear from you as the successful machine rolls on.
Regards, Charles
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CharlesKiwitrader
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- Joined: Sun Jun 22, 2014 11:01 am
Another Grid Trader!!
HI All,
a quick response re how this is going with the equity stop function = TRUE, and set to 10%.
After last weeks stop out on the GBPJPY, I have had another stop out this week on EURGBP, which has caused me to transfer this set file to the more conservative lots multiplier of 1.25, but leaving the step to 10 as this is usually soooooo slow to get to an extreme. But the good news is that after suffering from two equity stop outs of about $150 each I am only $30 down on my start of $1500.
My next plan is to get the widget thingy working so I can give you all a closer look at my demo etc.
I have done a lot of explaining now over the last few pages so I probably won't give out anymore info as there is not much more to add, and no more that you can't find out for yourself!!!
Lastly the jury for me at least is still out on the use of the equity stop function, as it does destroy all serious profitability, but determined I am to find a safe alternative to sleepless nights of huge draw down hoping the news will go with me not against etc.
Regards, Charles
a quick response re how this is going with the equity stop function = TRUE, and set to 10%.
After last weeks stop out on the GBPJPY, I have had another stop out this week on EURGBP, which has caused me to transfer this set file to the more conservative lots multiplier of 1.25, but leaving the step to 10 as this is usually soooooo slow to get to an extreme. But the good news is that after suffering from two equity stop outs of about $150 each I am only $30 down on my start of $1500.
My next plan is to get the widget thingy working so I can give you all a closer look at my demo etc.
I have done a lot of explaining now over the last few pages so I probably won't give out anymore info as there is not much more to add, and no more that you can't find out for yourself!!!
Lastly the jury for me at least is still out on the use of the equity stop function, as it does destroy all serious profitability, but determined I am to find a safe alternative to sleepless nights of huge draw down hoping the news will go with me not against etc.
Regards, Charles