Fx Pooler ver 6b Single

[Pooler]

Hi Sponn,

Did you back test or put on demo? Which EA you referring to? I just want to add that Ver6c2 you cannot create a template and drop it on each pair. You have to load the EA on each chart separately. User Name can explain why

[sponn]

I've created a template... lol

Ok. So what starting balance should be used ?

I'm trying version 6c2 (of course with your set file)

[Pooler]

Hi,

With those settings I used it on $ 50 K deposit.

[Pooler]

Thanks Mob,

Thanks Cuz--you were a great help.

[sponn]

Pooler you should put it into 1st post.

1. With set attached you need 50 000 k usd demo.
2. YOU CAN'T USE TEMPLATE. You have to attach bot to each one chart Really !

[Pooler]

Pooler you should put it into 1st post.

1. With set attached you need 50 000 k usd demo.
2. YOU CAN'T USE TEMPLATE. You have to attach bot to each one chart Really !

Duly posted Sponn--what was I thinking tsk

[mobthehop]

Pooler, just curious - I guess you need a 50k demo account as you start with one standard lot - havent yet looked under the hood of v6c2 yet, cant you start with 0.1 standard lot and thus reduce demo account equity to 5k?

Cheers

Mop

[Pooler]

Pooler, just curious - I guess you need a 50k demo account as you start with one standard lot - havent yet looked under the hood of v6c2 yet, cant you start with 0.1 standard lot and thus reduce demo account equity to 5k?

Cheers

Mop

I tried $5k with 6c2 but both myself and user name blew the account. Thats on 28 pairs. The reason I succeeded with a 5k account with 6c single is because it will wait until a new session (23h00) to open new pendings. Unless, it fills a buy limit--retraces and hits TP (at the Pivot Line) and goes through to the Sell limit on the other side because unfilled pendings stay there till start of new session. (But this is rare and happens with xxxJPY pairs occassionally). So less trading with 6c single which is why I could take a chance with a 5k account (as per MyFXbook). Ideally it should be .1 per 10k

The essential difference with 6c2 is that it doesn't place pendings. It waits till price is 50 pips away from the PL (this is the line that the levels are measured from) then opens market orders accordingly. BUT--as soon as price is filled it will start a new PL immediately and not wait for end of session. Thats why it has no trading times. It is always active--which means far greater trade frequency and profit...and of course the trade off (on 28 pairs) is draw down due to open trades and margin killing. I would reduce pairs or trade .1 per 10k.

I have found that 28 pairs tends to create its own hedging effect because not all pairs are correlated obviously.

Shoo--That was a mouthful but I hope it helps.

[Pooler]

While User Name and I work on the bugs in 6c4--here is a summary of how we arrived at 6c4. I'll try and keep it short (bear with me but to understand 6c4 you need to understand the background)

Approx. 2 years ago I started with the basic strategy. The idea is based on the fact that price will trend far less than it ranges/whipsaws. That.... and also because I'm basically a crap manual trader. Despite reading all of Nanningbob's threads with lots of Steve thrown in and trying to read price with indicators galore--I would make money and then promptly give it back to the market because I simply don't have the make up to be a successful trader. I can speak a good game but lack the correct mind set. So it was automatic trading or nothing. (Even now I fiddle with a successful EA like an Eejit ). I wanted a system that will react to price regardless of where it went because I could not with any confidence predict what would happen.

I bought an EA that had a similar strategy and then looked for coders to help refashion it into what I wanted. (Guess how I found out that coders loathe working with other coders EA's)
By trial and error (and unnecessary expense) I ended up with ver 2.1 which I posted on the Pooler San thread. The idea was to get input from the brains trust to combat the weakness of draw down because with a big enough account you will always make money with this strategy. With many mutations and changes (thanks Mantkinth) I ended up with ver 6c single which had the MS component. This was so that the EA could benefit whether price retraced as per the original strategy (Retracement Strategy--RS) or price ran (Momentum Strategy--MS).

I then withdrew from the thread to try and perfect the strategy and iron out the bugs that cropped up. In the mean time I stuck 6c single (RS only) on a demo--"Pooler RS" (started 7 March as per Myfxbook) to see how small an account size I could get away with before killing the margin. 6c then took off and today is on 373% gain. Which means that $5000 has been turned into $ 23 626 in about 2 months. Don't do this live as I suspect I was lucky when trading started. I've increased starting lots to .2 with the other lots sizes per level looking like this .3/.4/.45/.47/.5/.51/.52/.53/.54/.55. Lets see what happens.

User Name then offered to assist which meant coding everything from scratch. We ended up with 6c2. UN's understanding of how the TP was calculated resulted in a happy accident that this EA made $$$ at a brisk pace because the TP point was further away than with 6c single. The MS was still a problem so while we were working on that I spotted the Myfxbook competition starting tomorrow and thought I would try 6c2 on a demo with similar settings--hence the 50k account as per the competition rules. That is now on 75% gain since April 23. As I explained in the previous post 6c2 immediately sets the PL after closing the previous trade which means a lot more trades. The settings are OR levels (increase by 50 each level) 50,100,150,200,250,300,350,400,450,500. This is the same for each EA. TP % is 100,50,40,30,30,30,30,30,30,30 and lot sizes are 1,2,3,4,5,6,7,8,9,10. MS is switched off by entering a huge number like 5000 for the starting level.

6c2's TP is calculated the following way.
The % you use is not calculated per OR/level (like 6c single) but per total distance from the pivot line. So the TP% you enter per level is the distance price needs to travel back to the pivot (so level 1 = 50 pips, level 2 = 100 pips, level 3 =150 pips and you set the TP% for level 3 at 60%, price needs to retrace 50+100+150 *60% = 180 pips till TP (which is measured from the last level 3 back towards PL). I.E the last TP% is the one used and the previous 2 %'s are ignored.

6c single is calculated like this.
The Profit will always yield the same Pip Profit no matter how many trades have been opened. For example TP = 15 pips and starting lots is 0.1, if 1 trade is opened and TP is hit total $profit will be $15. On that same pair if 5 levels are opened and the average TP of all 5 trades are hit total $ profit will still be $15. This meant that with each level/trade opened you were getting TP to chase price to achieve the same TP target regardless. The only thing that changed this was increasing the level sizes.

Try and digest that lot so long and then next post I'll describe 6c4 in more detail. I suspect 6c4 with the current aggro settings might just blow up soon--but thats the idea...trial and error.

Regards

Pooler

[beorne]

Thanks for the explanation Pooler.

Good luck for Myfxbook contest.

b.