(REQ) Steinitz Fractal Pterodactyl Robot v1.41.

[Cornybob]

Hi Everybody,

 

My experience so far: version 1.42 still only trades short. Anybody found what is causing this?

 

Also, wait until monday 12:00 gmt before starting to trade. Lots of losers before that time, I assume because the fractal set-up algorithm may misfire because of the weekend gap.

[robotfx2]

anyone can upload the user manual please......

[witzcowitz]

robotfx2 ... read page 2 post #19 Edited May 20, 2010 by witzcowitz

[witzcowitz]

Cornybob ... experience shows that whenever the EA starts afresh there is the possibility for it to make losses, then the following trade groups 2 and 3 etc., are all profitable. Anyone have ideas on how to prevent the first losses? One rather crude way may be to close the first trade group immediately it opens making the assumption that is at least 50% likely to be a loss, better to lose the spread than (say) SL of 50 or 100 pips (x3). Another way might be to open every time with only a tiny risk or lowest size lot, then increase to 1 or 2% after the first trade has closed. Edited May 23, 2010 by witzcowitz

[GreatSamps]

Does anyone know which are the six optimized crosses?

 

Looking at the code, they are:

 

GBPUSD

EURUSD

AUDUSD

EURCHF

USDCAD

USDCHF

[robbyg]

Didnt work on live account!

 

Any idea?

 

Thanks!

[Solear]

Didnt work on live account!

 

 

Be happy about this!!!!

All Steinitz-EAs bring only money for one: steinitz.

[witzcowitz]

robbye .... enter the live acct # in place of 12345 in the .set file.

[Rio]

My opinion is that the Steinitz fractal breakout EA only really works on the H4 and D1 time frames assuming you follow the rules.

The system is too volatile on lower timeframes.

 

I had a go at making an EA from his manual system once, and the best results were only on the H4 and above, and even then they were not that great because the stoploss and take profit values were too arbitrary. Using fibs as take profits would usually end up leaving pips on the table (and was not that accurate to begin with) and the stoploss was usually too close to get stopped out. Stop loss hsould have been placed hundreds of pips away at last S/R rather than by following the SMA50 down...

Edited May 24, 2010 by Rio

[GreatSamps]

Hi Guys,

 

I can confirm that this robot will only trade SHORT. There is a mistake in the code which I believe i have corrected it, im just running some tests on it to ensure there are no further problems relating to the error, if they prove to have solved the problem i will share.

[Cornybob]

@witzcowitz

I would expect that the EA calculates all data at start-up in such a way that it does not make any difference whether the EA starts right up or has been running for quite a while. You can, however, uncheck "Allow live Trading". Judging from the code, the EA would run as usual, but only without placing trades. The following precedes the actual placing of trades in the Start() function: if (IsTradeAllowed() == FALSE) return (0);

 

@GreatSamps - optimized crosses

There may be a problem with the six optimized crosses. The function void GetOpt() may not take into account that some brokers use a suffix to their symbols. GallantFX uses, for example EURUSDgfx. To make sure this functions correctly, you could replace the following code: g_symbol_2392 == "GBPUSD" into: StringSubstr(g_symbol_2392, 0, 6) == "GBPUSD".

 

@GreatSamps - only-short problem

Did you also find that the function OpenMultipleTrades is called with a boolean (value 0 or 1) as the first parameter? While the same parameter is passed to the underlying function OpenTrade, where the latter expects a value of 1 or 2? Meaning 1=Buy and 2=Sell? I am curious as to what solution you have found.

 

Thanks for all the input!

[GreatSamps]

 

@GreatSamps - optimized crosses

 

Yes that will be an additional problem. This one is fairly easily fixed by changing the code in init() where the Symbol is added to the parameter for it to just add the first 6 characters of the Symbol()

 

@GreatSamps - only-short problem

 

Yep thats part of the problem. For now i have changed the bool back to an int, and where its asking !=False, changed to >0. There is an additional problem though. The CheckForExit() function is not returning 0 for Long orders which is required for the next line down. I have commented it out for the moment to check everything else works, then i will dig through it and work out what it should be returning.

 

Becuase this EA wont backtest, this is all having to be done with forward testing which makes it a slow process, but from what i have seen of this robot, it looks to have good potential.

[GreatSamps]

Hi Guys,

 

Please see corrected version. This version trades LONG and SHORT. i have tested it for 24 hrs, and it seems to be working. Please note though i have removed a function from it that was stopping the LONG trades from going through. This appears not to have broken anything, but it is a very complex EA, so it may be for another purpose. I dont have time before i go on holiday to work out why that function is not allowing LONG trades.

 

I have also fixed it so it will work on accounts with additional letters after the pair name, such as Gallant FX accounts.

 

Enjoy!

 

http://www.ziddu.com/download/10041589/Steinitz_Fractal_Pterodactyl_v1.42.1.mq4.zip.html

[⭐ totemg2000]

Hello GreatStamps!

 

Could you please upload this Ea with other host? My trustful and powerful anti virus system doesn't allow me to download from that address because of serious danger for the computer.

Thanks a lot!

[Solear]

just disable the trustful and useful anti virus system ^^

[123456789]

how to backtest this EA ? Edited May 30, 2010 by 123456789

[insider007]

123456789 you can only backtest by forward test, live testing demo... read all the thread

 

here another link for the one who have problem with is virus scan system hxxp://[email protected]/697665

[fx4_ever]

GreatStamps, Thanks for fixing the EA.=D>

[⭐ totemg2000]

When you compile this last version, do you get the same warning as I do? "Function "CheckForExit" is not referenced and will be removed from exp-file"

[ShaKerZ]

Have you manual ? What the cross and TF ? Have you settings that give good results ?

[⭐ MerlinBrasil]

When you compile this last version, do you get the same warning as I do? "Function "CheckForExit" is not referenced and will be removed from exp-file"

 

Look for the CheckForExit function and remove the "//" from the beginning of that line, then recompile successfully

[witzcowitz]

Well, I don't know about you guys, but for me what used to be a pretty promising robot trading only short is showing its true face now that it trades both directions. Previously 65:35 profit:loss, now the other way round, 35:65 profit:loss. Previously gained 90% in a week, now lost 20% of capital in three days and no sign of getting better, deja vu for all other Steinitz robots.

 

@MerlinBrasil post #48 below ... Suspect the markets were ranging while approaching NFP, that might be the cause of the problem since immediately following the NFP there were a dozen profitable trades of good size. Maybe a need to have at least two SET files, one optimized for ranging and the other optimized for trending.

Edited June 5, 2010 by witzcowitz

[⭐ MerlinBrasil]

Similar dismal results. No way can I see that this bot is profitable with default settings. Many trades close with $0.00 profit. I'd say that equals risk with no reward ;)

I'm curious if anyone has found a way to make this one tradeable.

[GreatSamps]

Look for the CheckForExit function and remove the "//" from the beginning of that line, then recompile successfully

 

Whilst this will remove the compile warning, it will also render the EA in SHORT only mode. As i mentioned in my original post, this is where the problem with it trading LONG lies. I have not had time to investiate why that is. I can confirm that after a week of testing it with that function removed, it is working ok.

 

Last week was not as good for this EA, 2% gain on 10k account with 0.1 fixed lot size.

 

The biggest problem that this EA has is that there is no defined hard stop loss, which makes calculating lot size / risk near to impossible. I have worked out some rough stop loss limits for each pair, they are around 15 to 25 pips. This is based upon 1 weeks of testing and analysing draw downs. 1 weeks data is by far not enough, but its a start.

 

From there i have re-written the money management to calculate the risk based upon the stop loss, which means we now have control over it. i have this version on test, and will let you know how i get on

[witzcowitz]

For me at least the decision to quit Ptero has been made after viewing Steinitz's robot sale site where at least he's been honest in so far as the trade report goes --- look at the .gif associated with the trade report he's displaying to see that for a huge amount of time, say 90% or so, Ptero loses as much and more than it gains rendering it a waste of time and resources. It reached a profit plateau then stopped earning despite hundreds of trades. That is why he rattles on about cash rebates being so important, they seem to be the only, though rather poor paying, attraction of this robot. Pity after he employed "the smartest programmer in the world" who wrote >4000 lines of text. If that amount of planning and work on an EA still doesn't cut the mustard, manual trading achieves a whole new level of attraction and profitability, as it always has! Edited June 10, 2010 by witzcowitz