The FLOW Plus ALR EA

[Dewey McG]

Hi Dewey

I am running Flow Plus ALR EA with no time restriction on the pairs you suggested. I was wondered however if it may perform better if I restrict the times that it trades

I do not have enough data to confirm yet, but it seems that during the lower volatility times (end of US and through the Asian sessions) the ALR kicks in and runs up the Lot #s. Then you hit the European/US session and it goes to TP.

A way to check this is with Myfxbook and look at the Winners/Loser chart. As you can see most of the wins were from 10 - 23 (Global Prime account) which is around the European/US markets. Again I have only run this EA for a few days so very little data.

Maybe if others have more data they could post their Winner/Loser results. I am going to keep this DEMO going to get more data and then start a second demo with restricted trading times to see how it compares.

Cheers Richard

Interesting, but I would need to see a much larger sample size to give an opinion on this. Is there an easy way to look at this on a back test?

[Dewey McG]

I ran another 5 year back test on the GU overnight with a max trade of 17 turns and 25% max risk. As you can see it still performed well. Please adjust your initial trade size to match your comfort level for risk.

[Dewey McG]

I did notice a potential improvement but I want to see how this works with other pairs before adding this.

In some of my own live trading I use volume--I will generally pass on a signal if volume is below average. With Daily charts though volume almost always seems to be above average so it doesn't help as much. A friend recommended the Waddah Attar Explosion indicator as a substitute. I threw those on a chart and looked at the trades which initiated the 3 largest basket of turns. By that I mean where we had to make the most turns to finally end up in profit. Now 3 is a very small number but volume being below average would have kept u out of 1 trade and the Waddah would have kept us out of the other 2.

Before declaring victory and asking our overworked programmer (Thank you again Tomasso!) to add these as filters, I want to check this on other pairs to see if this holds up. Know also there will be other consequences: First there will be les trades which means less overall profit. I will gladly trade that for lower risk. The other issue is that this could be random luck and that a trade not taken on date X will lead to a different trade on date Y that could result in a much higher number of turns and greater risk making the whole exercise a waste of time. Before asking for a programmer to spend valuable time I like to have a higher degree of confidence.

[MrLong]

Hello Dewey McG,

The reading for the volume indicator is the volume of your broker, you can monitor broker volumes here:
http://www.myfxbook.com/forex-broker-volume

It may be even possible to get the complete broker volume from here:
http://www.myfxbook.com/api

Andy

[currymonster]

Hi Dewey. Thanks for your hard work on this EA and analysis. I have it set up currently on 16 pairs on GP demo and it's performing very well this past week. I just watched a basket of open trades hit 10% open equity before falling back again. I've opened a second identical demo, but with MPM set to close all trades once a basket hits $150 (7.5%) to see if this will close two or three baskets a week on average. Will see how this performs.

Results to date attached, audchf no longer traded and may ditch audcad too. I do like the way the trades that go against get closed out quickly. Early results are encourageing.

cheers

edit - assuming the EA doesn't try to open new trades immediately, otherwise the basket idea may be a non starter, will see!

[rapple]

Hi Dewey

I am wondering what the % hit to an account would be if we just closed all positions at a set number of cycles (say 10) instead of letting it go to TP or SL after the final cycle. Would this be difficult to calculate with your spreadsheet?

Cheers Richard

[milanese]

Hi Dewey. Thanks for your hard work on this EA and analysis. I have it set up currently on 16 pairs on GP demo and it's performing very well this past week. I just watched a basket of open trades hit 10% open equity before falling back again. I've opened a second identical demo, but with MPM set to close all trades once a basket hits $150 (7.5%) to see if this will close two or three baskets a week on average. Will see how this performs.

Results to date attached, audchf no longer traded and may ditch audcad too. I do like the way the trades that go against get closed out quickly. Early results are encourageing.

cheers

edit - assuming the EA doesn't try to open new trades immediately, otherwise the basket idea may be a non starter, will see!

just use the SAPBTM for this it can deactivate all EA's after basketclose ---click---> http://www.stevehopwoodforex.com/phpBB3 ... =21&t=4081

Cheers:)

Tommaso

[currymonster]

Thanks Tomasso

[Dewey McG]

Hi Dewey

I am wondering what the % hit to an account would be if we just closed all positions at a set number of cycles (say 10) instead of letting it go to TP or SL after the final cycle. Would this be difficult to calculate with your spreadsheet?

Cheers Richard

It's right there on the spreadsheet--you can see what the loss is at X number of turns.

You are on the right track. Here is my plan:

Gareth is helping me on this because my computer is a lot slower. I am compiling back tests on several pairs and will put together a table to see how often across several pairs we get a higher number of turns. If we use a larger number of turns (15+) we might almost never get a los, but it can really hurt when you do. The fact is you will get losses eventually. However, what if the losses are so rare at 10-12 turns that the losses are still relatively small and the overall profitability of the strategy remains robust. The goal is to find the sweet spot where we can keep risk to a minimum and still perform as well as we are seeing.

[bazze]

My results so far ...(Have skipped the pairs in red...)