Seven Summits Trader

[⭐ musketeer]

Hey musketeer, i didnt really see your request before, but I've added it now. Enjoy :)

hxxp://www.4shared.com/file/q58cVe-e/SevenSummitsEA_teknomage_v1a_E.html

 

Hi Teknomage,

Thanks for that :)

I've running it on 1 HR on several pairs, later today(or by first chance) I will attach screenshots of. But it does not trade by rules.

[gigamax]

hi teknomage,

i don't understand why, but the EA takes different entry prices from the indicators.

Today at 4 a.m. GMT(5 a.m. on my chart) the SST_SReentry gave a short entry @ 1.2981 , the EA sold @1.29929 the next bar ; I've tried to find this price level but I didn't find it in any other SST indis. Interesting to know that even if the trade setup was issued at the end of the 5 a.m. bar (including the three relative take profit levels) all the successive bars (the 1.2981 price level was hit only at the 9 a.m. bar) show the entry level (yellow cross), but don't show the relative take profit levels : this can be a problem to manage in programming the EA because being the cross (in any of the relative color) the trigger for the trade entry you should refer for the first bar where the cross appear (assuming the entry price didn't change for the next bars ) for the TP's levels.

However the first SST TP was at 1.29590 and the low for the 10 a.m. bar was done @1.29595 ; I think it's important to change the indis decimals to 5 digits in order to have a better precision.

Here is the screenshot :http://img820.imageshack.us/img820/5315/sst1134gmt.gif

[kappaforex]

Hi Teknomage,

 

I have placed your EA on my live accounts with Axis ODL and have found the EA performing not in accordance with the SST indicators. The set ups are no where near the SST long and shorts as shown on my charts. I placed it on the TF of 15 min and didnt work on eurusd, usdchf, gbpusd, eurgbp, and audusd. I think it needs to be looked at so that the entries are only opened when the SST indicators are shown. I also recommend allowing a spread on top of the indicator either for sell or buy, and include if possible this also for the major pairs:

 

BE + 1 @ 9 pis

50% TP at 10

TS @ 10 with a step of 3

 

I have been doing this manually with very good success.

 

At the moment i have removed the EA as it is not in correlation with the SST set ups at all. Sorry buddy! If you can work this out so that the set ups are in accordance with the indicators allowing for a BE, 50% TP, ST then we might be on a winner. Else i will trade this manually where i have full control of my actions. All the best now cheers

[⭐ musketeer]

http://img842.imageshack.us/img842/8892/sstusdchf1001071324.jpg

http://img842.imageshack.us/img842/8892/sstusdchf1001071324.jpg

 

http://img691.imageshack.us/img691/5688/sstnzdusd1001071324.jpg

http://img691.imageshack.us/img691/5688/sstnzdusd1001071324.jpg

 

http://img35.imageshack.us/img35/1885/sstgbpusd1001071324.jpg

http://img35.imageshack.us/img35/1885/sstgbpusd1001071324.jpg

 

http://img232.imageshack.us/img232/5571/ssteurusd1001071324.jpg

http://img232.imageshack.us/img232/5571/ssteurusd1001071324.jpg

 

http://img189.imageshack.us/img189/1020/sstusdjpy1001071324.jpg

http://img189.imageshack.us/img189/1020/sstusdjpy1001071324.jpg

 

 

here are they all in rar

http://www.mediafire.com/?3893u1jx72jiz1g

Edited January 7, 2011 by musketeer

[gigamax]

Good,

even the last trade reached the TP1 .

Here is the total report :

 

2010.12.21 20:08 balance Deposit 100 000.00

2010.12.29 20:13 buy 1.00 eurusd 1.32161 1.32240 1.32670 2010.12.30 14:47 1.32670 -8.00 0.00 -4.50 509.00

2010.12.29 20:13 buy 1.00 eurusd 1.32164 1.32240 1.33010 2010.12.30 16:52 1.33010 -8.00 0.00 -4.50 846.00

2010.12.29 20:13 buy 1.00 eurusd 1.32166 1.32240 1.33340 2010.12.31 08:21 1.33340 -8.00 0.00 -6.00 1 174.00

2011.01.03 18:34 buy 1.00 eurusd 1.33764 1.33230 1.34250 2011.01.04 12:19 1.34042 -8.00 0.00 -1.50 278.00

2011.01.03 18:34 buy 1.00 eurusd 1.33772 1.33710 1.34230 2011.01.04 15:08 1.34230 -8.00 0.00 -1.50 458.00

2011.01.03 18:34 buy 1.00 eurusd 1.33774 1.33710 1.34430 2011.01.04 16:55 1.33710 -8.00 0.00 -1.50 -64.00

2011.01.04 12:18 sell 1.00 eurusd 1.34055 0.00000 0.00000 2011.01.04 12:19 1.34047 -8.00 0.00 0.00 8.00

2011.01.04 18:04 sell 1.00 eurusd 1.33010 1.34340 1.32500 2011.01.05 10:04 1.32500 -8.00 0.00 -2.60 510.00

2011.01.04 18:04 sell 1.00 eurusd 1.33010 1.33250 1.32170 2011.01.05 13:13 1.32170 -8.00 0.00 -2.60 840.00

2011.01.04 18:04 sell 1.00 eurusd 1.33010 1.33250 1.31850 2011.01.05 15:18 1.31850 -8.00 0.00 -2.60 1 160.00

2011.01.06 10:20 sell 1.00 eurusd 1.31242 1.31702 1.30383 2011.01.06 10:24 1.31259 -8.00 0.00 0.00 -17.00

2011.01.06 12:00 sell 1.00 eurusd 1.31082 1.31600 1.30624 2011.01.06 17:14 1.30624 -8.00 0.00 0.00 458.00

2011.01.06 13:40 sell 1.00 eurusd 1.30990 1.31600 1.30440 2011.01.06 17:47 1.30440 -8.00 0.00 0.00 550.00

2011.01.06 13:40 sell 1.00 eurusd 1.30990 1.31600 1.30260 2011.01.06 17:53 1.30260 -8.00 0.00 0.00 730.00

2011.01.07 06:00 sell 1.00 eurusd 1.29929 1.30220 1.29595 2011.01.07 14:38 1.29595 -8.00 0.00 0.00 334.00

 

Closed P/L: 7 626.70

 

teknomage ....where are you ? We need your help !

I know you're busy , but it seems that a SST EA may be a good investment.

Hope you will come back

[⭐ musketeer]

Good,

even the last trade reached the TP1 .

Here is the total report :

 

 

on what TF are they running?

[gigamax]

I'm running EURUSD only ,1H TF .

[⭐ musketeer]

I'm running EURUSD only ,1H TF .

 

and you are gmt+1, correct?

[gigamax]

No , I'm GMT +2.

Sorry I was wrong in my previous post.

[gigamax]

Another wrong entry by the EA at the 14 p.m. (GMT) bar ; the previous bar had a SST_LReversal (magenta cross) @ 1.3030 (never done till now) but the EA has done a buy @ 1.29921 , the relative SL and TP1 are correct.

I can't find this price in any of the SST indis , I don't have any idea from where the EA took it (the EA is in ex4 format, I can't read the instructions ).

[kappaforex]

Hi Gigamax, i dont know how you are getting those results cause the EA does not line up at all with the SST indicators. Most of the markers are off by more than 6 pips at least. I placed it on the gbpusd on TF = 15 min and its started placing trades all over. As Musketeer has shown above they are what is being placed. The NFP announcement was on last night and running the EA during these times can blow your account quite easily. So you need to monitor the EA during volatile news releases. All the best.

[⭐ musketeer]

Another wrong entry by the EA at the 14 p.m. (GMT) bar ; the previous bar had a SST_LReversal (magenta cross) @ 1.3030 (never done till now) but the EA has done a buy @ 1.29921 , the relative SL and TP1 are correct.

I can't find this price in any of the SST indis , I don't have any idea from where the EA took it (the EA is in ex4 format, I can't read the instructions ).

 

if it is correct with relative SL and TP that means that they are calculated and after ECN/STP opened order the order is modified with relative SL and TP....

my English is not enough here... sorry

[gigamax]

Hi Gigamax, i dont know how you are getting those results cause the EA does not line up at all with the SST indicators. Most of the markers are off by more than 6 pips at least. I placed it on the gbpusd on TF = 15 min and its started placing trades all over. As Musketeer has shown above they are what is being placed. The NFP announcement was on last night and running the EA during these times can blow your account quite easily. So you need to monitor the EA during volatile news releases. All the best.

 

Hi kappaforex ,my results are relative to the manual SST ; the EA is not reliable.

[gigamax]

if it is correct with relative SL and TP that means that they are calculated and after ECN/STP opened order the order is modified with relative SL and TP....

my English is not enough here... sorry

You are completely right , I check the journal and discovered that the EA places a buy/sell MARKET order (should be a buy/sell STOP order cause every SST cross is above/below the current high/low bar).

[teknomage]

Hey guys, i'll be right back with y'all. Just busy

[teknomage]

Hi Musketeer, thanks for posting the screenshots. As for the EA not following the rules, my question is : Where are the Rules?? I have always wanted to know the exact rules of entry and exit for this system. Since there seems to be no shared manual for this system, I just gathered whatever I could understand from the video that was posted on the first page of this thread and applied it to the EA.

 

@ all: Guys, please remember one thing I had stated earlier... the SST indicators DO NOT display crosses, stars or whatever on the CURRENT candle. They only show up on the candle AFTER it is completed. And this is exactly how the EA sees the values as well. There are no valid Entry or Re-Entry values for the EA to read during the current candle. It uses the values that it sees from the previous candle only and enters immediately based on what it sees...

 

 

Hi Teknomage,

Thanks for that :)

I've running it on 1 HR on several pairs, later today(or by first chance) I will attach screenshots of. But it does not trade by rules.

[teknomage]

Gigamax, i coded this EA on a whim as a Xmas gift to this forum, if anyone here remembers. The EA was not MEANT to be RELIABLE to trade yet... i CLEARLY stated that it was for backtesting purposes only, to see IF it adheres to the system... and as for the rules of the system, i'm gonna bring that up soon

 

Hi kappaforex ,my results are relative to the manual SST ; the EA is not reliable.

Edited January 9, 2011 by teknomage

[teknomage]

Thank you kappaforex. I hope to get this EA sorted out for all of us too...

 

Hi Traders and happy new year to all. Firstly i just came across this forum post. I trade the SST manually on TF 15 min charts, using pivot points, fibs and price action to determine whats happening on the markets. I also consider news releases, market reversals which occur in NY and London during their lunch time breaks. Another is to look out for is the stock market jitters which you will find a reversal around 3.00am EST and 9.30am EST before the equity markets open.

 

So knowing this information i can decide whether the trade the SST lines up will go with my plan. I also allow for spread costs when entering the trades guys. I have places the Quick trailing EA on my charts, with Break Even + 1 at around 8 pips, 50% trade taken at 10, and a trailer to let the rest ride if the markets tends that way. This is how i prefer to trade the system ensuring i get profitable trades with good MM.

 

I have run EA before blowing my accounts over and over again. The markets change far to rapidly for the EA's to adapt and change accordingly. I have seen EA been sold for $97 which has a SL = 500 pips and TP = 8 ===>>> ????? Which is total BS and all these internet affiliate marketers should be kicked off and blacklisted from the net.

 

If i had an EA making me money why on earth would you sell it to the public guys! So be careful with an EA as they will blow your account and take your undies as well.

In regards to this forum fantastic work to the programmer in the development of this EA. I have tested it live with small lots sizes on one of my accounts and have found it setting up trades wrong in comparison to the SST set ups on my charts.

 

I will try placing the latest SST indicators on my charts now to see if they are in correlation. Just to let you know im not a programmer, just a Forex Trader so please dont ask me to develop programs.

 

Hopefully we can work together to make some money and make 2011 a fruitful year.

[teknomage]

@ Kappaforex, Gigamax, Musketeer and whoever else is trading this system manually successfully (sounds familar?)

 

Guys, I need to know the exact rules for Entry and Re-Entry for this system. There is no point in complaining about the EA (which is just a test EA, in the first place) when NO ONE on this thread has even once stated ALL the rules clearly, the way the system is supposed to be traded. We are making assumptions about what the other understands about the system, but that is not gonna help anybody or the EA for that matter.

 

And yes, the EA currently enters using market orders. I did not hear a single mention of using a STOP order in the video, which was my main source of education for this system. I am not a professional trader, so again, my assumptions were made from whatever material was available...

 

So, I am putting this question out there once and for all: PLEASE share the exact rules for the SST system. Keep in mind that the EA cannot see any valid values during the current candle. If you use any additional Money Management rules which are not part of the original system, you are welcome to share them as suggestions for future versions. But for now, let's just stick to the original rules of the system and keep it to the point...

[Guest Jayman007]

Personally I have the SST indis on H1 EU and H1 GU. I use it more as a tool and don't take every trade it suggests. When I see a clear Long entry or short entry (usually not reentry) I place a limit order at the level it recommends with the stop it recommends and set the TP to usually the 2nd tp point (it lists 3). I then usually also add a TS of 15-20 pips so that it at least moves my stop to BE after it goes 15-20 pips. I then usually remove the TS and keep watching it. I rarely place market orders on this system.

 

I'm not 100% sure that an ea that tries to follow all the signals to the letter will be successful. Would prob need some filters like news or something to keep things more profitable. At this point I don't have set list of rules to code an EA on.

 

Thanks Teckno for trying to give us something to BT to even see if this system is worth following.

[grooter]

If you just look at the indicators it should be clear that taking every single signal will not be profitable. So some additional filtering would be useful, like a manual trader does it i.e. only trade London+NY session, filter price action by candle sizes/ATR/whatever, filter news... might still end up in losses, since manual traders feelings can not be coded :)

[teknomage]

Thank you Jayman007 & grooter. Here's the latest version of the bot which I quickly modified last night to use Limit/Stop orders as suggested. It will also display the number of Limit/Stop orders, so that you guys can track the way it opens these non-market orders. Also, the robot now follows all the Entries, Re-Entries and Reversals as shown by the indicators. I'm not sure if the non-market orders should be modified as the levels of the Entries, Re-Entries or Reversals move (you can see how often these levels keep changing) but as of now, the robot only takes the first order suggestion and closes it at T/P, S/L or if an opposite order appears. If you want the trades to be move to break-even and all that jazz, then set FollowActiveStop to TRUE, coz the ActiveStops do behave that way.

 

hxxp://www.4shared.com/file/kdqpHYDH/SevenSummitsEA_teknomage_v11.html

 

 

Frankly, I dont feel this system is worth automating because there are too many conflicting signals. It might be better as a manual system, but I certainly dont think it's newbie-friendly, nor is it as easy to be profitable as the creators make it sound... Just my 2 cents

[bnbb2004]

Good,

even the last trade reached the TP1 .

Here is the total report :

 

2010.12.21 20:08 balance Deposit 100 000.00

2010.12.29 20:13 buy 1.00 eurusd 1.32161 1.32240 1.32670 2010.12.30 14:47 1.32670 -8.00 0.00 -4.50 509.00

2010.12.29 20:13 buy 1.00 eurusd 1.32164 1.32240 1.33010 2010.12.30 16:52 1.33010 -8.00 0.00 -4.50 846.00

2010.12.29 20:13 buy 1.00 eurusd 1.32166 1.32240 1.33340 2010.12.31 08:21 1.33340 -8.00 0.00 -6.00 1 174.00

2011.01.03 18:34 buy 1.00 eurusd 1.33764 1.33230 1.34250 2011.01.04 12:19 1.34042 -8.00 0.00 -1.50 278.00

2011.01.03 18:34 buy 1.00 eurusd 1.33772 1.33710 1.34230 2011.01.04 15:08 1.34230 -8.00 0.00 -1.50 458.00

2011.01.03 18:34 buy 1.00 eurusd 1.33774 1.33710 1.34430 2011.01.04 16:55 1.33710 -8.00 0.00 -1.50 -64.00

2011.01.04 12:18 sell 1.00 eurusd 1.34055 0.00000 0.00000 2011.01.04 12:19 1.34047 -8.00 0.00 0.00 8.00

2011.01.04 18:04 sell 1.00 eurusd 1.33010 1.34340 1.32500 2011.01.05 10:04 1.32500 -8.00 0.00 -2.60 510.00

2011.01.04 18:04 sell 1.00 eurusd 1.33010 1.33250 1.32170 2011.01.05 13:13 1.32170 -8.00 0.00 -2.60 840.00

2011.01.04 18:04 sell 1.00 eurusd 1.33010 1.33250 1.31850 2011.01.05 15:18 1.31850 -8.00 0.00 -2.60 1 160.00

2011.01.06 10:20 sell 1.00 eurusd 1.31242 1.31702 1.30383 2011.01.06 10:24 1.31259 -8.00 0.00 0.00 -17.00

2011.01.06 12:00 sell 1.00 eurusd 1.31082 1.31600 1.30624 2011.01.06 17:14 1.30624 -8.00 0.00 0.00 458.00

2011.01.06 13:40 sell 1.00 eurusd 1.30990 1.31600 1.30440 2011.01.06 17:47 1.30440 -8.00 0.00 0.00 550.00

2011.01.06 13:40 sell 1.00 eurusd 1.30990 1.31600 1.30260 2011.01.06 17:53 1.30260 -8.00 0.00 0.00 730.00

2011.01.07 06:00 sell 1.00 eurusd 1.29929 1.30220 1.29595 2011.01.07 14:38 1.29595 -8.00 0.00 0.00 334.00

 

Closed P/L: 7 626.70

 

teknomage ....where are you ? We need your help !

I know you're busy , but it seems that a SST EA may be a good investment.

Hope you will come back

 

Hi Gigamax!

 

Sorry if I missed you stating this, but what EA and version are u running to get the above results or are you trading it manually? TIA! :-)

Edited January 10, 2011 by bnbb2004

[gigamax]

Gigamax, i coded this EA on a whim as a Xmas gift to this forum, if anyone here remembers. The EA was not MEANT to be RELIABLE to trade yet... i CLEARLY stated that it was for backtesting purposes only, to see IF it adheres to the system... and as for the rules of the system, i'm gonna bring that up soon

Hi technomage , welcome back home and happy 2011.

I've thanked you in many of your posts and wasn't in my intentions to criticize your EA,I was simply answering to a kappaforex question.

Regarding the rules , having not found any manual I use this method :

- I take the signal (the various SST_Entry,Reentry,Reversal crosses) valid for the subsequent bar only ; so If the placed pendind orders were not executed , I cancel all of them. Please notice that you can have recurrent crosses (if coming from the same SST_indi ) with the same entry and SL, but not showing the 3 TPs ; you need to refer to the first cross in order to see the 3 TPs . You can easily check this opening the MT4 Data Window (it shows every active chart indicator) and positioning the mouse over every bar. I think you may write a specific loop for this case.

- I never add a consecutive new signal (in the same direction of a previous one ; e.g. a Reentry) if all the previous 3 TPs (or eventually the relative SL) were not taken.

- I usually place 3 pending orders ( respecting the 3 TPs) for every signal .

Generally speaking , I think this system is good because is working ( with some success as it seems looking at the creator's blog) on many markets (futures , equity, etc.) as a good technical trading system should do ; not being overoptimized on a specific market/currency.

Eventually, the problem could be to find the "right" TF ; the one that fit better to this Trading System features ( you can note the creator uses a 5m TF for EURUSD and a 233 ticks chart for GBPUSD or a 1H TF for other pairs; not to mention all the others covered markets).

I've read about a news filter to add : it seems to be a good idea ; I have also the feeling that this system shouldn't be active during the Asian session.

Generally every trend system suffers during choppy markets , but this has a good SL management and it should be profitable over the long run.

I think we should concentrate over the various TF backtests and , maybe , on a multiTF approach (e.g. taking only the signals that go in the same upper TF's direction).

I hope we can proceed with those tests using the new release you've just wrote.

Cheers

[gigamax]

Hi bnbb2004,

as I stated before those results are relative to manual trading