Rio Posted January 13, 2013 Report Share Posted January 13, 2013 Yes the EA will adjust lot sizes as the account increases in equity. It will take a long time for a $1500 account to hit that point however. You will clearly get better results with $5000+ in your account, but you'll want to run it at the minimum to get a feel for how it works first. Over the years I have learned that trading is not getting easier as time goes along. So I am turning to automation, cannot sit here 18 hrs per day to scalp anymore. As for the traders in the USA, pretty sad their government controls how they can spend/invest their money. I found a way around that for my American buddies, but cannot post that here. The market is and will always be the same. When we talk of "changing market conditions", the only thing that changes is the average ranges. Aside from that, once you know how to trade, you can trade anything. If you're trying to scalp, stop. If you're doing this 18 hours a day, you're doing it wrong. You only need a good, accurate move during London or NewYork every day. If you don't know how to do that, you need education. The inability to hedge doesn't bother successful manual traders in the USA cokhisaa and taipan 2 Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted January 13, 2013 Report Share Posted January 13, 2013 hahaha, but scalping for that amount of time, while attending in between to other matters, produces a heck of a lot of money, my friend. The moment a government starts dictating me what I can and cannot do with my money I am out of there. Communism is long gone in most parts of the world. By the way: is the EA time frame sensitive? Quote Link to comment Share on other sites More sharing options...
Rio Posted January 13, 2013 Report Share Posted January 13, 2013 (edited) People asked me, so here's the link to the EA I am using live. I educated it myself and it's been tested on a live account for months, so I am confident in it. http://www.4shared.com/zip/-SODDALC/pyea52xe.html The EA is not sensitive to time, and does not care about trading sessions or GMT offsets. It will keep trades open over the weekend too (usually a manual trading no-no), and trade through NFP. It is a 24/7 EA. Like I said, it is not smart. It just hedges the market with pyramid trading and averages out losing trades so that your balance doesn't drop. It is usually always got a trade open, so you action junkies will see results fairly quickly. It uses moving averages on the M30 timeframe to guess the direction of the current trend to place it's stop trade levels. It sometimes gets it wrong (using MAs to judge "trend" is always going to be inaccurate), but it doesn't matter because guess what? It hedges.... so even if it gets it wrong, it can fall back onto it's floor stop and average all the trades out in break-even or profit (or insignificant loss if it gets slipped by the broker). nice that you can scalp. I just don't see the point when I can grab 30, 50, or more pip moves with high risk because I am accurate. I suppose if you threw $300K on with this EA, you could live nicely off of it. I'm not trading that much with it (yet!). Manual trading is by far more profitable. Edited January 14, 2013 by Rio lerxst, peterke, Sneed and 4 others 7 Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted January 14, 2013 Report Share Posted January 14, 2013 ....and I appreciate your work, Rio !!! Scalping can be done at any time of the day, I compare it to driving my car, can do that any time of the day as well. What I don't believe in anymore is trading on higher TFs, especially when the Big Boys are already to HFT, but not all of us live in NY or Chicago. I loaded the EA on my wife's laptop, hahahahaha, to proof to her that this will work.....I trust your statements. Will be interesting to see the results. Quote Link to comment Share on other sites More sharing options...
Rio Posted January 14, 2013 Report Share Posted January 14, 2013 Scalping can be done at any time of the day, I compare it to driving my car, can do that any time of the day as well. true, but it's a bit of a gamble at best. I don't gamble. For me, accuracy in trading is everything. What I don't believe in anymore is trading on higher TFs, especially when the Big Boys are already to HFT, but not all of us live in NY or Chicago. It's funny, but despite HFT the market has always moved as it always has. Trading on higher-timeframes is a poo-shoot anyway. There are weekly order cycles and daily order cycles. Maybe there are monthly and seasonal order cycles but I don't see the point in trading them if they exist at all. I mean, you could still trade them I suppose, but it's hardly time efficient when you can just load up a lot of lots on a trade that lasts 2 hours at most on a decent swing and then take your profits and get on with your life. At most, you should only hold a trade during a weekly order cycle and close it by the end of the week or earlier if the cycle ends midweek. Anything more is just silly IMHO. I loaded the EA on my wife's laptop, hahahahaha, to proof to her that this will work.....I trust your statements. Will be interesting to see the results. Yes, well,.... prove it to yourself first. Don't trust what some random jerk posts on the internet ;) Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted January 14, 2013 Report Share Posted January 14, 2013 I think that is what I said. Quote Link to comment Share on other sites More sharing options...
Rio Posted January 16, 2013 Report Share Posted January 16, 2013 When you run Pyramid 5.2XE, you just have to make sure that can hedge correctly (has buy and sell open at the same time) before you go live with it. In testing, you can end up with the following error: "Error (4107) set order: invalid price parameter for trade function," ...so you need to check for this in the Experts tab to see if errors are happening. This error is can be common, and means that EA cannot calculate lot size correctly (if EA input's lots=0, then it tries to calculate lot size from risk value). If you see that in the output, it means that you lack enough equity or maybe there is something wrong with your broker. Also you may need to change input parameters so that the EA can work. Personally, for some reason, I have trouble getting the EA to work on my broker's EURUSD with the included set file, at the same time as GBPUSD. The GBPUSD set file works great for me on my broker, so I just run it on that. Maybe when I have larger equity I can add another pair and share the risk. Also don't forget that there is a improved version of this EA, but you will have to pay for it. I think it would be worth it. indo37 1 Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted January 16, 2013 Report Share Posted January 16, 2013 So far not a really active trading EA. One per day, when using the setfile you included in the zipfile. Quote Link to comment Share on other sites More sharing options...
Rio Posted January 17, 2013 Report Share Posted January 17, 2013 First thing the EA does is to predict direction of the market with moving averages, and then lay out a set of stop orders in front of where it thinks price will go. Each stop is about 17-18 pips ahead of each other. As it goes through and collects the stops, it keeps an eye on where it is and throws in reversal floor stops to "catch" price if it starts going the wrong way. It works best when it manages to drive though stops during large volatile swing in the right direction (it did well, actually, over the new year's break on the GBPUSD for me).It collected lots of buy stop orders in the right direction and then ended up catching a reversal at the end and closing all orders in profit. Sometimes it can get jammed when price just consolidates for a long time, or it gets faked out and instead of collecting stops, it's forced to keep falling back on the first floor hedge stop all the time. Quote Link to comment Share on other sites More sharing options...
swordfish Posted January 19, 2013 Report Share Posted January 19, 2013 (edited) Rio, Thank you for sharing. Could you explain the trade logic some more? So, it is a grid and it trades in the direction of moving average in M30. If you hedge (buy and sell at the same time?), when do you undo the hedge and how can you make a profit? What is the worse case scenario? I will put it on demo. Meanwhile, please enlighten me. Who is selling the improved version? When you run Pyramid 5.2XE, you just have to make sure that can hedge correctly (has buy and sell open at the same time) before you go live with it. In testing, you can end up with the following error: "Error (4107) set order: invalid price parameter for trade function," ...so you need to check for this in the Experts tab to see if errors are happening. This error is can be common, and means that EA cannot calculate lot size correctly (if EA input's lots=0, then it tries to calculate lot size from risk value). If you see that in the output, it means that you lack enough equity or maybe there is something wrong with your broker. Also you may need to change input parameters so that the EA can work. Personally, for some reason, I have trouble getting the EA to work on my broker's EURUSD with the included set file, at the same time as GBPUSD. The GBPUSD set file works great for me on my broker, so I just run it on that. Maybe when I have larger equity I can add another pair and share the risk. Also don't forget that there is a improved version of this EA, but you will have to pay for it. I think it would be worth it. Edited January 19, 2013 by swordfish Quote Link to comment Share on other sites More sharing options...
Rio Posted January 19, 2013 Report Share Posted January 19, 2013 (edited) Rio, Thank you for sharing. Could you explain the trade logic some more? So, it is a grid and it trades in the direction of moving average in M30. If you hedge (buy and sell at the same time?), when do you undo the hedge and how can you make a profit? I will put it on demo. Meanwhile, please enlighten me. Who is selling the improved version? The EA starts up by guessing the trend. It does this using MAs. Then it picks a direction and throws trade stop orders in a grid fashion in front of price. Once a trade stop order hits take profit, it will trigger another trade stop in the same direction. The EA then calculates a price to set a floor stop in the opposite direction with a larger lot size. This has a "locking" effect on all open orders. If the current open trade misses take profit and falls back, it will trigger the floor stop and if it goes back far enough, the floor stop will be more in profit to cover the loss caused by the open trade stop. At this point the EA closes both buy and sell orders in a profit... clearing the board. Otherwise price will continue to move and collect trade stop orders and profit, and the EA will try again to set another floor stop, larger again in line with equity to achieve a lock. So it doesn't matter which way price goes, there will always be profit. The only thing that can kill the EA is if it runs out of equity making floor stops.. but this is highly unlikely. In any market, price has to retrace because the market dealer will need to offload all the funds he issues out during a trend at different price points. When that occurs in our EA, even a slight retracement will be enough to clear out all open orders. The original version is being sold by soft4forex. I like their EAs. Good luck trying to educate them though. The security is very high. I nearly wasn't able to break Pyramid 5.2 http://forexinvest.ee/soft4forex.html?lang=en Edited January 19, 2013 by Rio Sneed, taipan and cokhisaa 3 Quote Link to comment Share on other sites More sharing options...
swordfish Posted January 19, 2013 Report Share Posted January 19, 2013 http://forexinvest.ee/soft4forex.html?lang=en Thank you so much for your explanation. Soft4forex has many other EAs. They seem to like Megelan the most and plan to use it for signal service. Do you have any experience with Megelan? Quote Link to comment Share on other sites More sharing options...
Rio Posted January 19, 2013 Report Share Posted January 19, 2013 (edited) Thank you so much for your explanation. Soft4forex has many other EAs. They seem to like Megelan the most and plan to use it for signal service. Do you have any experience with Megelan? Nope. It looks interesting, as does Trend Raptor, but I wouldn't have a hope of educating it. Their newer EAs have dll security, and I don't have a decompiler that works on latest builds of MT4. Unfortunately, I am not smart enough to break dlls. If somebody IS smart enough to break DLLs and has latest version of mql4 decompiler, they should contact me. Then if somebody sends me the EA, perhaps we can coordinate an education! Pyramid is good in the sense that it isn't all that smart and can just hedge, so the market can't find ways to kill it like they can scalpers like Megadroid. Seems like soft4forex new bots have some "secret" sauce that they don't want to unleash which is why they keep the license count down. Of their EAs I educated Pyramid, Cash Hammer v3, and Lucky Candles v3. Some people were kind enough to ask me to educate them. Pyramid is better than than the other two. All of them are hedging EAs. You can probably find download links for Lucky Candles and Cash Hammer in II if you search hard enough.... but in my experience, Pyramid has the better strategy. They don't even offer Lucky Candles anymore. The latest version of Pyramid 8.01 seems to have been a fork of the 5.2 code to make it trade differently, which is why they still offer 5.2 I like their EAs because they are safe to use,... even if they don't make as much money as you would like every month. Edited January 19, 2013 by Rio swordfish and cokhisaa 2 Quote Link to comment Share on other sites More sharing options...
cokhisaa Posted January 20, 2013 Report Share Posted January 20, 2013 Hi Rio ! How can diferrent between your setfile and in the link of myfxbook ? I see that the same risk 0.22 ? Thankyou so much Quote Link to comment Share on other sites More sharing options...
Rio Posted January 20, 2013 Report Share Posted January 20, 2013 Which myfxbook are you referring to? I need more info to comment. Yes, the risk for a pair is 0.22 by default in Pyramid. I only run it on one pair, but I believe that it is possible to run pyramid on two pairs simultaneously if you have enough equity. You may also wish to spread the risk between the pairs (0.11 risk per pair). Equity can be a problem however, as the EA doesn't really tell you if you have enough equity or not. You may find that you end up with one pair trading, and a second pair not hedging and spitting out errors (not good!) I believe that you will need much more than $3000 to run two pairs even at half risk. You have to understand that the floor stop is calculated based on an expression of total equity (I think), so with two pairs going, the EA can end up getting confused. cokhisaa and FreddyFX 2 Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted January 21, 2013 Report Share Posted January 21, 2013 Rio. Can you please post your setfile? I am not getting very many results, so I must be doing something wrong. Quote Link to comment Share on other sites More sharing options...
Rio Posted January 21, 2013 Report Share Posted January 21, 2013 (edited) What do you mean by "not very many results"? It's a bit vague. * Are you seeing stop orders placed in grid fashion when the EA starts? * Are you seeing errors in the Experts tab, and no hedging? * Is your broker allowing hedging? * Does your broker allow microlots with 0.01 lot step? (some brokers have 0.05 lot step, so they allow 0.05 lots, but don't allow 0.01, 0.06, 0.07 lot sizes) * Do you have enough equity? * Is it just not making you enough money fast enough? ;) I have to admit that this is a problem with this particular EA. It can be REALLY fussy about the environment it runs in. That why everyone needs to demo test it and look for trade errors in the Experts tab in the terminal, if they intend to run it live. I run the EA on the GBPUSD with the set file provided. That works for me. Are you having difficulties using the EURUSD set file? I have had issues with the default EURUSD setfile for some unknown reason. I have had the EURUSD work on other demo accounts however, with no problem. It gives me trouble on my broker though, trying to calculate lots. I'm not sure why. I probably don't have enough equity to run both EU and GU Edited January 21, 2013 by Rio Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted January 21, 2013 Report Share Posted January 21, 2013 Rio. I have none of the issues you mentioned above. It just does not trade more than 1-2 trades per day and on a $10K demo, a $2-$3 is not really what I expected. I ONLY trade EU !!! Quote Link to comment Share on other sites More sharing options...
Rio Posted January 21, 2013 Report Share Posted January 21, 2013 (edited) Rio. I have none of the issues you mentioned above. It just does not trade more than 1-2 trades per day and on a $10K demo, a $2-$3 is not really what I expected. I ONLY trade EU !!! If the pair is very volatile, you can end up with about 10 or so closed trades. ..but really, you have to judge EAs on monthly percentage gains. This EA on one pair with conservative risk will not make much more than 10%. Perhaps with two pairs or increased risk, you can get this up to 20% per month. This is still MUCH better than the interest from the bank. Which bank is going to give you $100 per month on a deposit of $1500? I think most people expect that EA trading will make them rich in a matter of months. This is totally unrealistic (unless they have some really brilliant EA capable of trading like a skilled manual trader - which would be incredibly hard to code, and will never be sold). You just have to see all the decompiled EAs that kill accounts here on II that have been educated... and in the end, they are not worth a damn. Just ask Stormin' Norman. You're lucky if you find one that doesn't destroy your account! Rule number one of forex trading is to protect your equity. This EA provides a reasonable, reliable income without destroying accounts. In my opinion with EAs, this is as good as you are likely to get. If you want to get into Forex to make your millions, you are better off learning how to trade manually.... because that is how it is done... but prepare to spend a lot of time and money learning the craft. Edited January 21, 2013 by Rio FreddyFX 1 Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted January 21, 2013 Report Share Posted January 21, 2013 I know, brother. I scalp manually and can easily produce 2% per day. Not my first day in forex, BUT............ I would like to get away a bit more from the charts and enjoy this Mexico that I live in. So looking at a few EA's that are able to make me a 1% or so, ......and they are around, one just needs to search very well and stay away from the marketing hypes that get posted all the time...........and true, test a lot on demo first. The first thing I watch for is if they provide the .mq4 file, IF NOT.....they can go find another sucker. Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted January 21, 2013 Report Share Posted January 21, 2013 Rio. Guess you did not get my PM where I asked you to meet me on Skype FreddyFX2 Maybe on Monday. Quote Link to comment Share on other sites More sharing options...
Rio Posted January 21, 2013 Report Share Posted January 21, 2013 Just PM me if you want to chat. Pyramid collected up a lot of trade stops yesterday as the GBPUSD just kept dropping. Already it has about five floor stops available to it at 0.02, 0.03, 0.05, 0.09, and 0.15 lot sizes. 10% drawdown on the account. This is about as tough as it gets for Pyramid to handle. You don't often see it give much more than 10% drwdown. Given my tech analysis though, I think a GBPUSD reversal is imminent. Meanwhile all the floor stops are collecting swap. Even a slight retracement in the market is going to flip the drawdown back to zero. cokhisaa 1 Quote Link to comment Share on other sites More sharing options...
Rio Posted February 4, 2013 Report Share Posted February 4, 2013 (edited) The worst I have seen this EA perform is on extended trend drops with no immediate pullback. From the 14th of Jan to the end of the month, the EA was placed under stress of a rather punishing trend on the GBPUSD. It used up next to all it's floor stops and the account was in 38% drawdown. However, price eventually DID come back into profit because it was the end of the month, and eventually the drawdown vanished on a slight pull back, and the account was back to profit at 0% drawdown. So there you go. That's as bad as it can get. On the tiniest $1500 account, this would have almost killed it, but it still would have survived. On an account with more cash, it may have given you cause to panic, but even still, price came back, and you still made a sizable profit at the end. In fact, the EA trades much like how the real market makers trade. It gives out money at every price point until equity is thin on the ground, and then does a pullback to put the equity back into profit. That's how the big banks trade, and they never really lose. I estimate that to safely run two pairs on the lowest lot step (0.01) you will need a lot of equity. A LOT more than $1500. Probably $6000 would be a good starting point. Edited February 4, 2013 by Rio Quote Link to comment Share on other sites More sharing options...
FreddyFX Posted February 4, 2013 Report Share Posted February 4, 2013 Most people nowadays think you can achieve anything with merely a $500 or so and then go for the highest leverage obtainable. Quote Link to comment Share on other sites More sharing options...
Rio Posted February 4, 2013 Report Share Posted February 4, 2013 Most people nowadays think you can achieve anything with merely a $500 or so and then go for the highest leverage obtainable. I don't doubt that it's possible, but you could only do it if you're the #1 world champion FX trader. You certainly can't get $500 to a million in a few weeks. A year of some seriously accurate trading would do it though. Most people will never pull it off, or believe that it can be done.... so... Quote Link to comment Share on other sites More sharing options...
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