Alpenkorp's Grid Scalping EA

[billv]

I have decided to use multiplier 3 after lots of backtesting and calculating. And it works pretty good. What we need now is an emergency entry and Global stop loss. Things like that happened once after 8 months ... got the point?

sure, I understand , I mentioned this because I've been playing with other grid type EAs
and exposure is what kills the accounts. So I thought there should be a function which automatically limits the lot size while the DD is high or a setting where the account holder can choose to restrict the EA during certain periods or when the account size is small.
Just a thought
cheers

[Alpenkorps]

I have decided to use multiplier 3 after lots of backtesting and calculating. And it works pretty good. What we need now is an emergency entry and Global stop loss. Things like that happened once after 8 months ... got the point?

sure, I understand , I mentioned this because I've been playing with other grid type EAs
and exposure is what kills the accounts. So I thought there should be a function which automatically limits the lot size while the DD is high or a setting where the account holder can choose to restrict the EA during certain periods or when the account size is small.
Just a thought
cheers

No mate, we don't have this feature yet, and as it happens pretty rarely, I think we can prevent this by the ways I have mentioned.

[billv]

No mate, we don't have this feature yet, and as it happens pretty rarely, I think we can prevent this by the ways I have mentioned.

Ok please let me know when you've implemented the change and I'll give it a test
cheers

[Alpenkorps]

No mate, we don't have this feature yet, and as it happens pretty rarely, I think we can prevent this by the ways I have mentioned.

Ok please let me know when you've implemented the change and I'll give it a test
cheers

I am hoping Steve would do the change if he gets some free time, its been a while so I am not sure if he has still any interest on it. I think Steve is very busy these days, so I am going to do more tests meanwhile.

We can still try to use the bot with manual intervention. Put a sound alarm when a trade is taken and monitor it, place emergency Buy/Sell Stop orders when needed. I'll start a demo from next week, will keep you guys updated.

[billv]

Hi Alpenkorp
Your EA blows the account very easily so it is VERY dangerous.
I've tried other grid EA's and this 1 scares me the most.
Is there a way to limit the lot size?
For example by putting a limitation where it has to win x number of trades before it increases lot size or to limit the max lot size to a certain % based on account size?
cheers

[Jack1]

Hi,

I test this EA on M5 from last week data eur-usd.

It may be better for Scalping few pips on M5 or M1 chart. You may need big bankroll to run M15 or H1.

I found it increase lots size very fast, which can hit target in limit time to reduce blow out.

Enjoy this toy EA.

Cheers !

[Alpenkorps]

Hi Alpenkorp
Your EA blows the account very easily so it is VERY dangerous.
I've tried other grid EA's and this 1 scares me the most.
Is there a way to limit the lot size?
For example by putting a limitation where it has to win x number of trades before it increases lot size or to limit the max lot size to a certain % based on account size?
cheers

It will not blow your account if you know what you are doing. Just keep out for extreme spikes until we find a way to fix it.

The strategy is simple, try to understand it first. Any recovery method only works when you have a very good hit rate with your entry and enough capital to support the process.

This is not a simple grid system, it can be called a dynamic grid. I was supposed to start a demo from the start of the week which I have failed to do. I'll set it up today hopefully and share the results here.

[billv]

Hi Alpenkorp

I don't doubt the strategy, I was commenting on the large lot size.
You never know when a spike will come along and we can't avoid bad trades.
What do you mean by your comment "if you know what you are doing" ?
What do we have to do?

Cheers
Bill

[Alpenkorps]

Hi Alpenkorp

I don't doubt the strategy, I was commenting on the large lot size.
You never know when a spike will come along and we can't avoid bad trades.
What do you mean by your comment "if you know what you are doing" ?
What do we have to do?

Cheers
Bill

Hello Bill,
We will start with a low calculated lot size that will stand the DD of at least 5/6 levels, we should reach TP before that. This is the basic strategy, the flaw is, we don't know how far the price will go before it makes a close on any timeframe. I have explained this on the chart I have posted earlier, please see that. From now, we need to be careful of that and we can place a emergency stop order on last high/low swing.

I'll PM Steve if he has some free time to do the modification.

I got the demo up and running, I'll observe it for a while if its running properly, then link up to myfxbook.

[billv]

Hi Alpenkorp
ok I'm now running it on demo.
Interesting EA, I put it on M1 where the most noise is and it is recovering the losing trades plus it made $5 in 4 hours on EURUSD. I left it with default settings.
cheers
Bill