Another Grid Trader!!

[trader689]

sure thing here it is:

thanks charles for setting those up will watch with interest. my £2000 demo doing well 2 weeks in using the rsi7 setfile

Hi Sir,
Possible to share the myfxbook or state of yoor last 2 week.

Thx,

[CharlesKiwitrader]

Hi Rasta420,
Sorry it was me that didn't read too well (sorry as you question was regarding another trader's 'myfxbook'
Regards, Charles

[taipan]

HI All,
After learning how to use 'myfxbook', as quite easy really, I have attempted to attach my demo accounts for Sebgrid 1.5a. (new as of yesterday). As described by the widgets I have started one at $1k, and the other at $1.5k, as per my instructions to all of you.

In continuation of whether the equity stop is valid or just a profit chewer, we can view my widgets with interest over the next month. I have decided to alter some of the set files as the more aggressive currencies will more than likely hit my stops and I only want the equity stop loss hit in extreme moves not just a normal upward or downward movement against the trend. So, I have changed the RSI to 5 for USD currencies, lot multi to 1.25 for most, and step on the aggressive to 20. Sorry for the alterations and you can choose for yourself which combo works best for you, given that an equity stop loss of between $100-150 would be best for preserving capital as well as not swiping enormous amounts off!!!


Also, bear in mind (FYI for those who don't read too well or have not tested this EA) this EA trades the extremes of the RSI indicator, which means it opens its first trade when RSI level is penetrated, works on step levels after candle close there after and ONLY closes the basket of trades when the other EXTREME is hit. E.G. Sell series of trades start when RSI value is > 70 (4hr TF), and one or more trades only close when RSI value <30 (AT CANDLE CLOSE, or when new candle appears).
So if you are keen on watching this EA at work there is only a need to know when your 4 hr candles open/close. As different brokers have different times there is no point in telling you when my candle closes. Daylight savings stuffs this up, so beware. No point watching all time as market moves around etc, also, DON'T be tempted to close any trades prematurely as usually I have found that taking the money early is wrong, and only makes you nervous as to whether you have made the correct decision or not, so patience is key to this EA, as it DOES work. Lastly, if you choose manual invention beware EA won't trade again until an extreme is found, could be hours or even days etc.

I had a computer glitch (my son being a computer geek learning about networks), and I lost the trade station with the last two weeks, so before this was lost I was only down $13 and had 2 equity stop-outs ($300), so sorry I can't show you all this.

Thanks charles for sharing your great ea. I have been demoing with good result. However, there is one problem, I have tried to close the profit manually (just want to find out what happen if I manually intervened), the ea immediately take another trade. Could you program it if intervention is done, ea will not take trade immediately until the next candle or extreme condition.

[CharlesKiwitrader]

HI Taipan,
I am pleased you are having nice results from this EA. Unfortunately not being a coder I wouldn't be able to make the changes you are thinking of.

I have checked one of my trade stations with Sebgrid1.5a and I see the problem, and it is all related to the 'equity stop function' as when I asked my programmer to add the RSI coding into this I did not think I needed the function. Now needing it there seems to be a problem if one manually intervenes, as EA thinks the same as if there has been a 'STOP OUT', and enters another trade. Also, I have tried the manual intervention with the equity function turned off to find that EA does NOT enter new series IF RSI value is NOT extreme.

I will see if someone here can add the code to tell EA not to add new trade if there are no trades active AND rsi value is not extreme, because even though I don't agree with manual intervention it may be prudent to have this ability in a 'to-good-to-be-true' style of senario.

Hope this helps,
Regards, Charles.

[CharlesKiwitrader]

Hi all,
Growth so far. Although this may come under pressure as a couple of strong trends from NZDJPY and GBPNZD. Watching for stop outs etc.
Regards, Charles

[muhammadbadawi]

Hi Charles,

I generally like grid trading when combined with martingale, opening the new position on the 4H candle likely will slowdown the DD.
One thing I don't understand how is the of TP set 250 works? and is this per trade or per basket?



BR,
Mohamed

[CharlesKiwitrader]

Hi Mohammed,
Thank you for your interest, and yes you are correct that this EA method of adding new trades does reduce DD.

This 250 pip thing is rather vague I agree, and probably should be ignored as this has no relevance to the EA, as EA uses RSI levels to open and close trades, and therefore no stop loss or take profit are necessary. This is a value in pips, and if used too close to price this would cause a closure of trades (maybe profitable maybe not).

My thinking along the use of this 'Take Profit' set to 250 pips is if you have a 'too good to be true' senario the EA would close trades when price hits this TP level.

But as another trader has pointed out I need to get that issue fixed so if TP is used, or somebody wanted to manually intervene, THEN the EA won't start another series until goes extreme etc.

For now, the 250 pips as part of the set should be ignored, well until we can get the 'equity stop' function' happy enough.

Hope this explains the minor problem, as when using the equity stop function set to true, the EA will start another series of trades if the TP is hit or some manual intervention.

Regards, Charles

[muhammadbadawi]

Hi Mohammed,
Thank you for your interest, and yes you are correct that this EA method of adding new trades does reduce DD.

This 250 pip thing is rather vague I agree, and probably should be ignored as this has no relevance to the EA, as EA uses RSI levels to open and close trades, and therefore no stop loss or take profit are necessary. This is a value in pips, and if used too close to price this would cause a closure of trades (maybe profitable maybe not).

My thinking along the use of this 'Take Profit' set to 250 pips is if you have a 'too good to be true' senario the EA would close trades when price hits this TP level.

But as another trader has pointed out I need to get that issue fixed so if TP is used, or somebody wanted to manually intervene, THEN the EA won't start another series until goes extreme etc.

For now, the 250 pips as part of the set should be ignored, well until we can get the 'equity stop' function' happy enough.

Hope this explains the minor problem, as when using the equity stop function set to true, the EA will start another series of trades if the TP is hit or some manual intervention.

Regards, Charles

Thanks Charles for clearing it out

[pete14]

Hi Charles,

I'm demo trading sebgrid for about 3 weeks now and it looks very promising.
Lately I noticed that some series of trades have been closed without the rsi reaching the 30 or 70 level.
Do you know the reason? Is it part of the system or a bug?

Thanks

Peter

[CharlesKiwitrader]

HI Peter,
I have not noticed such problems. Is this with your Empty4 demos or with others on this post?

If you are referring to the people who have chosen to close trades manually, and then EA opens a new series before reaching extreme (>70 etc), then yes, this is a bug (refer to equity stop usage). I have another trader helping me for a fix, and this should be sorted in the next week or so.

If you are experiencing your own problems, then please make comment here, and me or someone else can help.

Sorry I can't be of more help,
Regards, Charles