Wavegarrick » Wed Feb 10, 2016 7:49 am wrote:Hi Guys
The pullbacks would be something I need to tinker around with, I would be lying if I say it is going well at the moment..It is all fine when we catch momentum and have a nice run, as we did with 21/60 a few days ago...but currently I am giving back my gains. Maybe look at increasing the time between trades. but let me expand a bit down below in answer to Haggadah's question
Haggadah, I was running the single line method for a bit just to see how one trade was generated. with this method we would have to look at when a pullback happens, lets say in a downtrend price would cross back up over the 240 Ma on the 5 min t/frame. It could even cross back up over the 240 Ma on the 15 min time frame. Now we have be careful here because we have specified required signals in time frame 1 to 4 or 5 ( currency strength test) and 4 in t/frame 2 ( required signals) at least that is how I have set mine up. So if the ea sees that these conditions have been met it would open a buy trade against the trend which is down. Not what I want. I want it to cross back down below the 240 Ma on the 15 min t/frame and 5 min t/frame for me to get back into the trend. So we would have to look at including all the time frames up to one hour in the required signals ( currency strength test). Signals would also become a lot less but I am sure worth the wait. I could be wrong and if maybe Rene or George could help me out..then again was this system designed to catch quick scalps or longer term signals ? I could be losing the plot and maybe taking it away from its intended purpose.
The same conditions as above would apply for the Ma cross we have only been doing well because we have caught the run,, so the currency strength test on time frame 1 and 2 would have been ample to get back into the trend but what if the 30 and 1 hour 21/60 starts crossing over means are method is going astray
Anyway this Dashboard system and ea is a masterpiece and is only doing what we tell it to do...we just need to crack the code
Today's result is a stark reality that the EA will require manual monitoring and intervention. It is trading strength against weakness and this intermittently change per session and on daily basis. Therefore this kind of day can be expected and as soon as we see this kind of result, turn the EA off and close the trades. Remember I always say, we don't have to trade every day.
Rene is already testing an exhaustion option as exit strategy and we can wait for the result to see how the EA performs, and we can make our judgment calls after that.
Extending the currency strength test to HTFs will reduce signals leading to fewer trades but may not stop this kind of result.
Just my 2 cents
Cheers :hi:
