Holy Graily Bob's Candle Power

[firewight]

10,000+ pips in under a week is definately some sort of record. Interestingly tonight's news brought EU back to life as it was starting to look like GJ was the only worthwhile option.

GBPJPY had been stuck in a very tight range this week, so perhaps that is the cause, see screenshot

Wonder what will happen when it startes trending heavily

BOJ Interest Rate Decision shortly, it may shake up the GBPJPY a little...

[alecsa72]

Started from scratch today, 2 pairs as per SL set file, 0.01 lot

Results so far after almost whole day of action

Capture.PNG

[Wavegarrick]

Just a little swot analysis,

Gbpjpy, clearly going into bull territory with 21 sell trades and no buy trades currently 2000 pips drawdown. Candle power clearly good for ranging. Well, breakout not so sure. Stops are about to be hit, based on Tjf's setfile.

Sorry Guys,

Cheers
Leon

[1Direction]

Nothing I can do about those. The bot tries to send a new stop loss and it is rejected by the borker. Change brokers or widen your jumping stop or ignore them.

Ok, I just checked the stop level on this demo account is not zero while on live it is 0, lol. Anyway this is the source of the problem, thank you for pointing me in the right direction.

[rapple]

Just a little swot analysis,

Gbpjpy, clearly going into bull territory with 21 sell trades and no buy trades currently 2000 pips drawdown. Candle power clearly good for ranging. Well, breakout not so sure. Stops are about to be hit, based on Tjf's setfile.

Sorry Guys,

Cheers
Leon

Hi Leon,

Trading EU and GJ with TJF setfile, mine is showing similar results (GBPJPY @ 34Sells:1Buy and -3000pips).

However the rate at which the balance increased prior was very impressive when market conditions were appropriate

The equity has now dropped around 50% so I am going to Nuke all trades (Nuclear Option Script) and see what happens when we start afresh (bit of rinse of repeat)

Cheers Richard

[Wavegarrick]

Hi Richard,

Trading EU and GJ with TJF setfile, mine is showing similar results (GBPJPY @ 34Sells:1Buy and -3000pips).

However the rate at which the balance increased prior was very impressive when market conditions were appropriate

The equity has now dropped around 50% so I am going to Nuke all trades (Nuclear Option Script) and see what happens when we start afresh (bit of rinse of repeat)

Yes I agree. The results are very impressive when the conditions are ideal. However just imagine 21 trades all hitting 200 pip stoploss, will take a sizeable chunk out of the profits. At one stage I was 3000 pips in drawdown after my post and no stops were taken out at that point. In forex we do need luck and this morning there was a nice retrace so closed all for a small profit There will however be a day with no retrace, and we will of course have to take the knock.

Let us know how it goes with the Nuclear option.

There is something I am trying right now. I have turned jumpstops and s/losses off. I have set a hedge basket profit at 1$ with .10 lot size. I am letting MPTM take a basket profit of 1$. So, what I am seeing now is quick in and out profits. I will play with this and possibly look at a 5$ profit. For now I leave it at 1 dollar.
Not sure yet if I must also allow MPTM to close the pending buy or sell stop in the opposite direction.
Of course the hedge profit will only kick in if I have a buy and a sell trade and I will want this as small as possible, so therefore 1$ hedge profit to get out as quick as possible.

Will post my results here in due course.

Cheers
Leon

[SteveHopwood]

I found that trades are still bunching so I had another look at the code. It was ridiculously complicate - no idea what I was thinking.

Copy this simplified version of the top of the existing function:

Code: Select all

bool EnoughDistance(int type, double price)
{
   //Returns false if the is < MinDistanceBetweenTradesPips
   //between the price and the nearest order open prices.
   
   int as = 0, cc = 0;
   double pips = 0;
   
   if (type == OP_BUY)
   {
      //No market order yet
      if (!BuyOpen)
         return(true);
      
      as = ArraySize(BuyPrices);
      for (cc = 0; cc < as - 1; cc++)
      {
         pips = MathAbs(price - BuyPrices[cc]) * factor;
         if (pips < MinDistanceBetweenTrades)
            return(false);
      }//for (cc = 0; cc < as - 2; cc++)
      
      //Got here, so price was OK
      return(true);
   }//if (type == OP_BUY)

/* For diagnostics
Alert(DoubleToStr(BuyPrices[cc], Digits), "  ", DoubleToStr(price, Digits), "  ", DoubleToStr(BuyPrices[cc + 1], Digits), "  ", (int)pips);
RemoveExpert = true;
ExpertRemove();     
return(false);
*/          
   
   if (type == OP_SELL)
   {
      //No market order yet
      if (!SellOpen)
         return(true);
      
      as = ArraySize(SellPrices);
      
      
      for (cc = 0; cc < as - 1; cc++)
      {
         pips = MathAbs(price - SellPrices[cc]) * factor;
         if (pips < MinDistanceBetweenTrades)
            return(false);
      }//for (cc = 0; cc < as - 2; cc++)
      
      //Got here, so price was OK
      return(true);
   }//if (type == OP_SELL)
   
   
   //Got here somehow, so there is enough distance in between the price and the nearest
   //order open prices.
   return(true);
   
}//End bool EnoughDistance(int type, double price)

I will post an updated version in time for Monday.

I went to my VPS to add the fixes and found a lot of rejected break even stop loss errors. Break even doew happen eventually, but it can take a while. I will look at the code.

Now I am going for a bath to contemplate what to do when a market runs a distance and leaves a lot of losing trades behind it.

[TraderJoeForex]

Now I am going for a bath to contemplate what to do when a market runs a distance and leaves a lot of losing trades behind it.

I am wondering how the usual offsetting might run with this instead of SL, BE + JS...

[edit.. have just set up HGBnDnSSnFB alongside HGBCP just to do offsettting. Will report back if it delivers pips]

[TraderJoeForex]

Original still steady as she goes though despite a few SL hits..

[SteveHopwood]

Out of the bath, so here are my thoughts about groups of trades being left behind by a leaky toilet:

• we do not need to care if our account is sufficiently well capitalised. I am thinking trading 1 pair at 0.01 lots per $10,000. It sounds feeble put like that but TJF's set file is netting c. $50 a day. The account will double every 10 months.
• not many here will be in the above category and so a badly unbalanced position is something to worry about. Besides, my ambition is to create an EA that friends and relatives can open a $500 account, load up the EA and watch the account grow. Here are a few thoughts just before I move on to dealing with imbalances:
  • we are (mostly) trading this on the M5 by accident. I never intended this; it has happened because I had the bot running on GJ M5 to generate trades and discovered it was profitable. Is anybody testing any higher time frames?
  • given that we are still trading the M5 thanks to TJF's genius, should we be trading such a volatile pair. Might we be better off picking a pair so sleepy that it takes dynamite to move it, and just enjoy the ranging?
• given that we have defined a point at which our position becomes unbalanced, what to do about it? Let's say for the sake of this discussion, that a position becomes unbalanced when there is a difference of 10 between open buys and open sells and that we have 13 sells and 3 buys:
  • the nuclear option:
    • the instant variety: close the position immediately.
    • the margin level option: close the position when the margin level drops below a certain level.
    • the phased option a la the Friday night closure: close the position when the DD has shrunk to an acceptable level.
  • offsetting:
    • temporarily suspend the usual trade management and offset groups of winners against losers on the opposite side.
    • resume normal management when the position becomes 'balanced' again.
  • hedging:
    • hedge the losing group if the latest higher time frame HGI signal is in the wrong direction. In our example, we would add the equivalent of 10 buy trades.
    • lift the appropriate side of the hedge following a change of HGI signal.

Give it some thought.