BBW Scalper

[stic]

Re: BBW Scalper

 

Merlin could you post the version you are using ?

thx :p

[MerlinBrasil]

Re: BBW Scalper

 

I'm using the same version 4.4 Pro that you can download from his website, Stic

[stic]

Re: BBW Scalper

 

well forward statements is better of course, but 3 months of forward tests does not meens anything to me because you must have a longer period of time to know if ea is stable. This is why to me backtests can give very good information about ea longevity, even if they are not as reliable as forward test.

Just look at this : http://img130.imageshack.us/img130/1197/bbwscalpergbpchf.gif

it crashes account on GBPCHF, EURUSD, and many others (I didn't try them all) ... with default settings.

It keeps trades until they close in profit, so if the trade never comes to profit you go to bankrupt.

[vincent829]

Re: BBW Scalper

 

Hi Stic,

 

Check out my forward testing on the top four accounts @

http://www.myfxbook.com/members/mbbbwM1

 

My backtesting guy is working hard to find optimized settings for each pair. Takes a while, and backtesting is never, imo, as effective as forward testing.

 

Best results from a good broker..... 5-digit, ECN, STP with the Demo data the same as Live Data.

 

Shifting to Live, one has to deal with market fills, which may affect results either way but not by much. I've made good profits with this on Live, as well.

 

One important tweak...... Open up the Indicators and Change the first number to 11, and the Type to Exponential.

 

There's no point to trading with stop losses with this EA although you CAN if you wish. It stops taking trades when your ML% drops to 1000% (or less, as you can change that setting). At that point, you just use patience and wait for the original trades to come to profit, freeing up ML% once again. Your Account Balance is protected at all times this way and shows the advantage of using a 'basket' of currencies.

 

I go seriously live with this in January.

 

Regards, and happy pipping!

Merlin

May I know which broker are you using?

I plan on non-ECN account. What broker do you suggest?

[MerlinBrasil]

Re: BBW Scalper

 

Stic,

 

It trades a BASKET of currencies simultaneously. If you're going to test it, at least read the docs. You CANNOT EVER backtest a Basket. MT4 doesn't allow.

 

Literally impossible to "bankrupt an account". Safe and steady profits. Of course trades will go into DD. With most all but EURUSD, they come out of DD and close in profit. It's all about Money Management.

[MerlinBrasil]

Re: BBW Scalper

 

May I know which broker are you using?

I plan on non-ECN account. What broker do you suggest?

 

Hi Vincent,

 

I'd never use or recommend a non-ECN account. Deck is stacked against you if there's a Dealing Desk.

 

An ECN with STP (Straight Through Processing) is about the most 'level playing field' you're going to get.

 

Best regards,

Merlin

[stic]

Re: BBW Scalper

 

Of course I've read the doc and it says :

Remember, you only need 6 of the currency pair charts. If your available pairs is not listed here, you may need to run some back testing to prove which currency pairs you do have will work best with our products.

 

I think that believing a pair will protect other pair from DD is very dangerous, account can crash easily with such ea (as shown in backtest), that my own opinion.

Regards

[MerlinBrasil]

Re: BBW Scalper

 

Sorry, Stic, your logic makes no sense to me. Try forward testing for a few months..... or a few years. By that time we'll have worked out all the best settings. A 3-week test (just on the final 4.4 release version... I've been beta-testing this for many months) shows that EQUITY is virtually ALWAYS GREATER than Account Balance. So you can close all trades at the end of every week, if you like, and STILL be in profit, ready to start the new week.

 

How you equate that to bankruptcy eludes me. Make the change I recommended in the Stochastics Osscilator, run the tests on a decent broker feed for a month, and see for yourself. ML% rarely dips below 1000. You will not get rich overnight. You will make profits steadily and dependably.

 

Alternatively, you can ignore the thread and this EA and find another which makes you happy :)

[Stormin_Norman]

Re: BBW Scalper

 

can you post up your demo account to a reporting site (myfxbook/mtstats) merlin?

 

im gathering that the basket profit taking is what keeps it from getting into trouble?

[MerlinBrasil]

Re: BBW Scalper

 

can you post up your demo account to a reporting site (myfxbook/mtstats) merlin?

 

im gathering that the basket profit taking is what keeps it from getting into trouble?

 

Hi Norman,

 

As posted twice on this thread:

 

http://www.myfxbook.com/members/mbbbwM1

 

Correct. The author of the EA has been fanatical from the initial conception about Money Management specifically designed to protect the account.

[MetaCrazy]

Re: BBW Scalper

 

i've been demoing on two demos, jadefx and fxdd. i've set the stop loss to 100 pips. i don't care what the basket is, there will be a situation when currencies do not come back for years.

 

with the stop loss, fxdd is losing 26% on equity and the jadefx demo is winning 15% on equity. duration of test is 2 weeks.

 

i'm bothered that none of the forward tests that the author shows is longer than one month.

[Stormin_Norman]

Re: BBW Scalper

 

Equity:(87.95%) on your forward demo.

[MerlinBrasil]

Re: BBW Scalper

 

Equity:(87.95%) on your forward demo.

 

Correct on #1 of the 4 demos. Just means that the EA will not take further trades until one or more of the 8 open trades closes in profit, releasing the ML%. Sometimes takes a day or even a week for a trade to close. No algorithm is 100%, obviously, on all currency pairs all the time. I'm not trading EURUSD with this one, as I use that for manual trading, but one of the other testers is, and it's withstood the near-900 pip drop without collapsing the account.

 

The EA is designed to handle all market conditions while protecting the account. As I said before.... you won't get rich overnight. But consider the 26%, 36%, 18% and 17% gains of the 4 accounts over the past 3 weeks. And with the worst DD less than 2%.

 

Aside from the Stoch tweak, this is running default settings out of the box while backtesting individual pairs for likely best parameters.

 

Seriously, Norman.... you've been on the board here for ages, and have probably tested hundreds of EAs now, commercial and otherwise. If you can provide a list of EAs which perform better, I'd love to know what they are.

 

Best regards,

Merlin

[MerlinBrasil]

Re: BBW Scalper

 

Here's a backtest done on GBPUSD. Backtester is still working to tweak and verify.

 

http://img109.imageshack.us/img109/1307/bbwbestresulttodate.jpg

[Stormin_Norman]

Re: BBW Scalper

 

i guess we have different criteria. above the max DD = 20%. that's 4 times my allowable limit on an EA. live trading accounts actually dont record DD as well as backtests. in live forward accounts DD is taken as closed trades; where as i like the measure it as the maximum equity drop from its previous peak, closed trade or (more often then not) open trade.

 

say that DD on the pound is 20%, and you are running it also on the eurusd, audusd and usdchf. given all 4 pairs are quite correlated, you could be looking at an 80% combined DD and a margin call.

 

i run about 40 EA instances (types of EAs times currency pairs) however i try to be quite aware of correlation between both pairs and strategies.

 

any single EA on a pair must have a maximum DD of 5% over an extended test period. i then also have a 'catastrophic' DD limit of 20% should multiple EAs on multiple pairs all suffer DD together.

 

given the limitations of MT4 backtesting on multiple currencies in the same instance it is hard to know exactly how their open trade DDs would occur together, if the DDs would be equalised between them, or compounded

[MerlinBrasil]

Re: BBW Scalper

 

Hi Norman,

 

Essentially, I agree. As I've stated, tweaking on the individual pairs, those I'm currently trading plus the others he recommends, is ongoing. It would seem logical to trade pairs not so tightly corellated, so as to provide better overall protection.

 

With all of your testing, have you come up with one or more EAs which provide better results? If you've shared that info I haven't been able to find it.

 

Are you trading live using any automated system at this point?

 

Personallly, as I've been forward testing this for many months, I'm quite happy to close all trades Friday afternoon, bank the profits, and start fresh on Monday. I've yet to see a week where that paradigm would not be profitable and safe. Banking 4-12% per week is just fine by me. :)

 

Best regards,

Merlin

[Stormin_Norman]

Re: BBW Scalper

 

id say 80%+ of EAs i run live are on here. the other 20% elsewhere on public forums. i dont paste big signs declaring which ones i use; it takes a lot of time to go through the good, bad and ugly EAs to find ones with acceptable results; tweak some others with either optimisation or an additional variable.

 

but theyre all here (or there @ tsd, FF, tradingsystemsforex) and my comments and backtests are around on most of them.

[name000]

Re: BBW Scalper

 

@MerlinBrasil

max drawdown can be higher than gross loss (as on your attached image)?

[MerlinBrasil]

Re: BBW Scalper

 

@MerlinBrasil

max drawdown can be higher than gross loss (as on your attached image)?

 

Correct. I've said that it happens, but rarely. In the current market, limp and directionless, I'm neither surprised nor concerned.

 

I'll keep running these demo accounts, tweaking for better results, and waiting patiently for the trades currently in DD to close in profit, as I've watched happen for many many months now.

 

It's not always easy for a EURUSD scalper to be patient, I'll admit. But it's part of a trader's discipline. I may, in fact, end up closing all my trades each Friday, taking my 4-8% profit, then starting anew on Monday. That's been a winning strategy from day 1, but I'm running the demos on a longer term, while tweaking, to see how it can be more profitable and under what conditions it might fail.

 

Good pippage for you all in 2010 :)

[chinyunwu]

Re: BBW Scalper

 

Hi Merlin,

 

May I ask which ECN broker you would recommend.

Thanks.

[MerlinBrasil]

Re: BBW Scalper

 

Hi Merlin,

 

May I ask which ECN broker you would recommend.

Thanks.

 

The Collective FX

Go Markets (Australia)

neither is subject to NFA 'rules', so Hedging is straightforward.

identical feeds on Demo and Live Servers

[MerlinBrasil]

Re: BBW Scalper

 

Hi Guys,

 

As I've said earlier, I've been beta-testing this EA for many months, both demo and live, have had some input into its design and features and have found it to be both safe and profitable.

 

I have *no* financial interest in this company

http://www.investorshaven.com

but I do believe in the ethics and creativity of the authors and their *extreme* desire to put out safe and profitable EAs. They're in it for the long haul, not the quick buck, and the level of support is quite high (note: in my experience, scamsters don't list their home number on their web page for support).

 

I told Larry, the author, that I wanted to make it more easily available to my friends here just on this board and asked if he could set something up so that people here could purchase the EA at a deep discount by providing them with what would otherwise be my affiliate payment (which I never do and don't need). He agreed, and set up a specific webpage:

http://www.investorshaven.com/BuyNowDiscount.html

for this.

 

This is for purchase of the Regular or Pro versions only. You can still do the demo stuff for free and look through the site until you feel confident. But if you do decide to purchase, go to that special page and enter the code: Camelot2010 to get a 36% discount. (Note: it's a pretty decent affiliate program for those who want to take advantage of it yourself.)

 

Another friend and I are working on constantly improving the settings and pairs for the currency basket and the yield keeps improving while the drawdown stays small. You will not likely get wealthy overnight with this one. It's money management is designed first and foremost so that your account is protected. My first day with the new settings yielded just over 5% with DD never exceeding 7%, trading 23 currency pairs. I'll be cutting down the number of pairs to include only the most profitable ones which open and close fastest. For now, I want to see how each pair performs within the basket.

 

I hope this helps those of you who might have a problem affording this one.

 

Best regards,

Merlin

[andy93]

Re: BBW Scalper

 

Hi I just got this bbw sclper and can wait to try it but I didn't have any instruction on wath pair to use wath time frame and settings can someone share their experience just to help me.

Also is there anyone using it on real account? I plan to wuse it on an ecn so I won't have any trouble cashing the money.

Also wath are the maximum equity draw down you ever saw ....?

 

Thank you very much

 

Andy

[MerlinBrasil]

Re: BBW Scalper

 

Hi I just got this bbw sclper and can wait to try it but I didn't have any instruction on wath pair to use wath time frame and settings can someone share their experience just to help me.

Also is there anyone using it on real account? I plan to wuse it on an ecn so I won't have any trouble cashing the money.

Also wath are the maximum equity draw down you ever saw ....?

 

Thank you very much

 

Andy

 

Hi Andy,

http://www.myfxbook.com/members/mbbbwM1

has results from many past and a current account. Only the scalp/hedge entry is another bot I was testing.

 

The BBW23 is an interesting example. It's using some pairs I wouldn't trade live, but I wanted to see them perform anyway. Max DD was 40%. First few days, it closed frequently all trades, so no DD at all other than the initial trade opening 'Spread DD'. I trade this without stop losses and with a MinMargin of 500%, against the recommend of the author, who prefers the ultra-safe 1000%.

 

Still, in a way, this account represents a worst-case scenario. Note the income curve. DD just above my acceptable maximum, yet trades keep closing and new ones opening. Nearly 1000 consecutive winning trades and on track for 30%+ this first month.

 

Testing of 'best pairs' and some of the parameters (my personal favorite is MaxSpread) is on-going. I'll keep posting results at the URL above.

 

I believe M5 is the best TF, although M1 and M15 have proved profitable, sometimes more/sometimes less.

[dlewisfl]

Re: BBW Scalper

 

Merlin ... thanks for all the info on this EA. I just obtained a copy a couple days ago and have put it up on demo, changing some of the default settings with new recommendations from the developer. I'm curious if you shut down trading at all late Thursday or early Friday since your approach is to close all trades in drawdown on Friday and start fresh the next week (assuming Sunday open). Also, are you still using the changed setting of 11/exponential in the provided indicator?

 

Thanks again on sharing your findings. I'll be hammering away for awhile testing this one as well - unfortunately it backtests slowly due to the external indicators.