Forex strategies revealed | FSR Forum

ForexLion wrote:Hi Azim

What is your profit target for the GJ pair pls?

+71 pips and it has been already hit. you can see at my last post. I attached a screenshot

I’ve been developing an EA for this strategy for several months. The main reason was to back test this great strategy and possibly to trade it. To date I’m having amazing results and I want to share my findings like Edward did.

First I have to say that currently this EA is like a wild horse that needs to be domesticated, it has a lot of potential, gives huge profits but also gives scary losses. The good thing is that on the long term, profits prevail. May be together we can improve it.

For example, back testing with Alpari UK data starting January 2008 with a 10K account (10K = 10.000 USD), risking to loss 2% of the account on every trade, the EA managed to turn those 10K into 87K by the end of December 2008.

What happened on 2009? It started with 87K and ended with 199K.

What about 2010? It continued with 199K and ended with 330K.

Form 10K to 330K in three years, risking only 2% on every trade? That is nice and sounds like real life.

On the other hand if you set the parameters to risk 5% on every trade, the profits go ballistic. It goes form 10K to 27 Million USD in three years!!! That is crazy and I don’t think that would be permitted on a real account, because when the EA is configured with 5% risk, it ends trading really huge lots and I think no Broker is going to permit that.

Any way, that is configurable and we can set a maximum lot size to avoid problems with the Broker if we ever go live with this EA.

The EA is based on the original rules but I have tweaked the rules in some aspects to improve the EA performance. In the near future I will comment about the changes to the rules.

In the mean while, you will find the EA source code along with my last tests on the following link: http://sites.google.com/site/fxpassion/eas/trend-lines-breakout-system

Please feel free to download and test.

Happy trading.

_______________
Haydel

Wonderful!

Thank you for the great work!

Best regards,
Edward

Hi Edward/Haydel,

Thank you for a great site!

I am new to EA's in metatrader and have a couple of questions if you could please answer?

1. I am based in Sydney australia and for my broker am using a demo account with Forex.com. My results in testing have not been as good as yours. I beleve this might be something to do with broker time settings. Do you know what value I should put in based on my location?

2. Are there any changes that should be made based on my location?

Thank you

Daniel

Hi Daniel,

The is a parameter in the EA called:
inpBrokerTimeZone = 2; which shows the Broker time zone difference from GMT.

Ask your broker (Forex.com) what time zone their MT4 servers run in, because in MT4 it's not possible to change the time zone based on your location, thus whichever time zone the Forex.com's servers operate in, that will be your platform's time zone.
Then if it's GMT+10, inpBrokerTimeZone = 10.
If it's GMT, , inpBrokerTimeZone = 0.

Best regards,
Edward

Hi Haydel & Edward,

First of all, thanks for all your devoted time to help other people. I think the EA
has huge potential

Second, I have some question relating to this EA:

* Could you give us the Manual/Guides to explain the feature of each line of INPUT section so that we
can use the EA correctly (Setup the parameters correctly). For instance, What is

"inpMinPivotOpenDist ". Why its' setting = 30

What is " inpMinSLPipsToEnter " . Why its' setting = 20


What is " inpOneDayOpenTrades " . What is Optimize number (what is the best number to setup)

What is " inpMaxTradeTime ". Why its setting = 11

What is " inpSlipagePoints ". Why its setting = 30

etc....

Because, when checking " Input " section of the EA, Some of lines parameter I do not know WHAT THEY ARE
and some of lines I guess WHAT ARE THEY

Thanks in advance

n1

Hi Daniel,

What Edward say is correct and if your Brokers MT4 servers run in, lets say GMT-4, then you should set the inpBrokerTimeZone parameter to that negative value (-4), inpBrokerTimeZone = -4.

Another possible problem that I see coming is the number of decimal points that the Broker uses. I only tested with Alpari UK data and they use 5 decimals for GBPUSD prices, so for now, the EA is working only with 5 decimal prices. I did not prepared the code to be aware of the number of decimal points yet but soon I will.

_____________
Haydel

Haydel,

I've backtested this EA and I just took bad perfomances trading EU and GU ( 01/03/2011 - 02/11/2011 ) an 10k account ended in 2-3k

I use default settings, what am I doing wrong?

Im running it on Alpari server, GMT 0, right?

help!

Hi Edward, Haydel.

Thank you for your answers.

I will check the brokers time and adjust.

GBP/USD is represnted as 1.6024, i guess that is 4 decimals and not 5.

If there is a simple way to change this in the code, i can do that.

Thanks Again. Daniel

Paludo wrote:Im running it on Alpari server, GMT 0, right?

help!

Paludo,

Alpari US uses GMT+1
Alpari UK uses GMT+2

__________________
Haydel