Wealth Harvestors EA

[soundfx]

Hi rick,

 

Nice trade!

 

Always waiting for the opposing signal is a good disciplined way of exiting trades.

 

Looking on the Daily, it appears that CHFJPY is right now touching previous support which could turn resistance.

 

If I was in this trade, I'd take my winnings now.

 

Unfortunately when I changed timeframes temporarily to check out the S/R levels, the EA triggered a CHFJPY Buy trade from the Daily which will upset my testing results, so I'll try to close this around b/e.

 

Regarding your previous question, that's the way parameter settings are held in the *.set file.

 

1 = True

0 = False

Edited November 5, 2010 by soundfx

[rick1713006413]

Manually: I entered a Buy on 11-4-10 on chfjpy 1 hour...price at 83:60....as of right now it is at 84.26...SL at 82:93 TP is Open (waiting for opposing signal)

 

Ok....cci 14 has just bounced off the 175 mark twice....closed out 1/2 of the trade....will now move sl to BE....

[rick1713006413]

Hi rick,

 

Nice trade!

 

Always waiting for the opposing signal is a good disciplined way of exiting trades.

 

Looking on the Daily, it appears that CHFJPY is right now touching previous support which could turn resistance.

 

If I was in this trade, I'd take my winnings now.

 

Unfortunately when I changed timeframes temporarily to check out the S/R levels, the EA triggered a CHFJPY Buy trade from the Daily which will upset my testing results, so I'll try to close this around b/e.

 

Regarding your previous question, that's the way parameter settings are held in the *.set file.

 

1 = True

0 = False

 

Thanx SoundFX....that's what I was hoping for with the start of this thread....very nice observation.....well, as you can see...I had already taken 1/2 off the table due to the cci bounce in the OB area.............however, looking at the dashboard correlator which I'm playing with right now for filter confirmation....the CHF is showing ALOT of strength and the JPY is VERY weak...wish I knew how to post pictures here and I'd be able to show you the correlator...

[rick1713006413]

Just got a signal to Buy USD/CAD...very OS.....2 lots at 1.0034...SL 1.0009

[soundfx]

Hi rick,

 

Good move taking 1/2 :)

 

To post pictures here you have to click on the image button (the one with a tree in it) and provide a link to a server where your picture is held.

 

You can upload your picture to here (no need to register or anything):

 

http://imageshack.us/

 

Yep, that USDCAD has a good chance of being a decent trade short or long term.

 

QE2 was already priced into the market up to around the $700bln mark, so we should see plenty of strength coming back to USD over the next few days/weeks.

 

I exited the CHFJPY prematurely as I'm not familiar with that pair and took a small loss of around -7 which shouldn't affect the overall test results much.

 

The EA has entered the USDCAD for me, currently running at +2.

Edited November 5, 2010 by soundfx

[rick1713006413]

ok....here is the image file...the jpy has now gotten stronger (alot of greeen)...exited trade at 84.32...entry was at 83.60

 

http://img80.imageshack.us/img80/1510/dashboard.gif

[rick1713006413]

If you look at the dashboard...you'll see alot of weakness in the USD v CAD....the stop loss in the pair is pretty tight (for 1 hour tf...IMO)...so...it's a calculated risk, as they say....the CAD is starting to change colors (from green)...so it might be losing some momentum...

[soundfx]

Hi rick,

 

When posting your image if you first press the 6th button along (top menu of the quick reply box) and put your image link into there, you'll be able to embed it into the page for easier viewing - like this:

 

 

 

http://img80.imageshack.us/img80/1510/dashboard.gif

 

Yep, it's a tricky call on USDCAD right now for a relatively short term trade with a small stop, the trade still has a good chance though. The stop is placed at the last swing low which is optimum for these sort of trades. We won't win them all, though from what I've seen of this system it places stops at ideal levels and the signals appear at the best times to capture longer trends which will more than compensate for any losers.

 

If you want to make this trade slightly safer, put the stop just below the 1.0000 level as that's a major psychological level.

 

Longer term I reckon there are loads of pips to come trading with USD strength. Predominant support is around the 0.9930 level.

Edited November 5, 2010 by soundfx

[rick1713006413]

By the way.....here is the dashboard and volume indicator file if you're interested:

 

http://www.multiupload.com/GXI5JPUFF3

 

More information can be found at http://www.myfxwealth.com/.....watch the youtube video for trade samples....

 

Will adjust the stop loss....great suggestion!

[soundfx]

Hi guys,

 

I left the EA running permanently and here are the results at the close of play. Still in profit which is good news.

 

There are some trades that the EA is happy to take which I wouldn't go near such as selling into the major "big number" support of 1.0000 on USDCAD - perhaps if it works well, we could add this extra check to make it even better.

 

http://img255.imageshack.us/img255/912/wh2e.jpg

[rick1713006413]

Update for EA:

 

http://www.multiupload.com/DRIIEMRD5Z

[rick1713006413]

Email Update

 

It's our culture to reserve the real EA settings and trading pattern we use to achieve our results, for our clients only. However, we have decided to shed a LITTLE light with you in order to guide your trading and make you achieve better results even on demo or live accounts.

 

Please read and FOLLOW these simple hints:

 

1. Study again the trading rules in the Manuals.

 

2. Avoid trading during holidays and flat market.

 

3. Use our preferred stop-loss

 

4. Exit with either the human hand or with an opposing signal, then enter the new direction to collect back losses in case you exited in negative.

 

5. Avoid over-trading. Select best times of trading and have realistic targets. Trading only during or before impactful news periods may be an added advantage! Close trading for the day once in good profit.

 

6. Avoid Asian session trading.

 

7. Trade only trendy pairs. The indictaor and robot is designed to catch good moves. So try to take advantage of this.

 

8. Delete all previous files, and re-install the new ones we sent lately. (This applies to those who are getting our free trial files for a second or third time)

 

9. Use 5 or 15 mins timeframe for intra-day trading.

 

 

Enough!

 

 

N:B:

 

1.if the robot fails to trade or malfunctions in your platform, then it is simply your platform problem or your broker's problem. Some broker discourage robots on their platforms and so they apply several tricks to discourage you. If this is the case and you must use same broker, then load only our indicator and trade manually!

 

2. Load our indicator on your chart even if you want to test the robot. So that if the indicator gives and alert and the robot does not trigger the trade, then you know that the robot is not functioning.

 

3. Make sure you know how to load and use a robot. Otherwise we advise you to trade only with the indicator manually. The robot is not designed to trade just like that. It is designed as a tool for your personal use as you like. So don't allow it to trade all signals of this trial copy.

 

4. The copy for sale only provides signals during the euro and us sessions and is restricted to just eur/usd pair.

 

5. Our latest version 3.0 has safe exit human hand for every signal generated.

 

You will succeed!

 

Dr. Onyeka Alimele

[rick1713006413]

Update to Indicator below (can be used with 15 min)...needs to be educated:

 

http://www.multiupload.com/F591FEJE6C

 

Latest Email:

 

Hello.

 

Please download the attached files.

 

Delete the previous files and install these ones.

 

We have rectified the refreshing issue about this version 1.0 and done

maintenance on it to suit your platform inconsistencies.

 

Focus on one time frame for intra-day trading. 15mins is ok with this

latest update.

 

Closing date remains 15th of November.

 

To your success!

 

Dr.w

[indie33]

Can someone add a timer parameter to the EA , to switch off during Asian session as the orginal developer has advised not to trade during Asian session.

 

Thanks

[soundfx]

Hi Rick,

 

Here's the educated indi:

 

http://www.multiupload.com/U3M8M42J4X

 

The zip file also includes a version of the EA which has a time range. Note that this check is fairly basic but can be used to limit the EA to only trigger orders in a particular GMT time range - I'm still testing this at the moment, so please use in demo if you're going to try it.

 

I noticed that there were only two differences in the new EA, one is that the default target was set to 30 pips and the other was a bug fix (not sure what for).

 

I'm running this time range EA at the moment from 8GMT to 16GMT starting this week. However, recently I've noticed that using my original parameters for the trailing stop, I'm getting some errors - lots on the recent CHFJPY Short trade for example, however I've just noticed now that trade was eventually placed.

 

My test account balance right now is +192.30 with around -20 in drawdown from two running trades GBPUSD Buy and CHFJPY Sell, so the EA is still doing ok.

[jamestan1978]

so far any good results on this?

[soundfx]

The EA I'm running is still in profit, though took a couple of losers.

 

Balance currently +90 with -13 running.

 

The signals, however still look excellent to me and if you're manually trading from these and control your exits, this is a very nice and simple manual system.

[rick1713006413]

Sound....downloaded your updates....my EA hasn't taken any trades.....I loaded the indicator update to the chart with the EA....do I have to load any other indicators that you know of? Yes...the manual trading system has been very consistent....no Repainting from my end!

[soundfx]

Rick,

 

You need to have all indicators in the experts\indicators directory so that the EA can read them.

 

I only have the Wealth_Harvester SS Version 1.0 attached to the chart so I can see the signals. This indicator takes input from the others.

 

I assume that you have a smiley face at the top rhs and EA's are turned on.

 

If you're using a 5 digit broker and don't have the EA target and stop as 10 times the pips, then all your trades may be rejected because the stop is too close - e.g. it's registering as 2 pips rather than 20.

 

Check in the Experts and Journal log to see if you're getting any error messages.

[soundfx]

Hi Guys,

 

I've given up on the EA for now (it was around b/e after a couple of weeks running) and tried some manual trading for a couple of days using the signals, which went well as you can see below. I entered whenever I heard an alarm (I missed loads from not being near the computer) and set the stop to the Cross and set the target to the same as the stop or the next obvious support/resistance point where price may turn. If I was near the computer and saw trades in profit, though with potential for price to go against them, then I closed the trade, otherwise trades were left to run to stop or target.

 

http://img214.imageshack.us/img214/4528/wh3n.jpg

Edited November 18, 2010 by soundfx
wrong image

[jamestan1978]

Hi soundfx, how come the ea is not profitable? i thought it based on he same logic as the manual system?

[soundfx]

Hi James,

 

The EA has several ways of trading and I set it up with what I thought to be the best parameters with a trailing stop. It could be that the EA is profitable long term, however that's uncertain as things stand from forward testing.

 

We're back to the same old problem with EA's and that's that because they're computer programs (and 99% of the time extremely simple ones) they're inherently dumb when it comes to trading. The performance seemed to go downhill as soon as I restricted trades to the main session, however this could be totally unconnected and just related to market conditions. My view is that in the long term it will be safest to only run the EA in the main session. You could run a backtest and optimise the parameters, however there's no guarantee that the same market conditions will prevail and this is a classic failure point for a lot of EAs (their lack of ability to adapt).

 

This EA (as like most others) doesn't know about support and resistance, candle formations, potential news impact, price patterns etc. All of this stuff is second nature to anyone manually trading and this allows manual traders to close trades with good profits which are likely never to reach their intended targets or cut trades well before the stoploss which are likely to end up blowing the stop. All these things which are easy for the human mind to check prove to be quite tricky to pin down into hard logic.

 

Also, remember that an EA has to take every signal even if they're rubbish ones. A manual trader can pick and choose and only trade the signals which appear to have the highest probability of succeeding.

 

I still run EAs like this one from time to time for fun, however if you want to earn any money in this game, manual trading is the way to go and as a "heads up" to good potential trades these signals are as good as any I've seen.

Edited November 19, 2010 by soundfx

[rick1713006413]

I have to agree with you Sound....the signals do seem to be quite good, however I am going to be using them as an added filter with another manual system that I'm toying with...also...I've been playing with 1-2-3 setups....but with Heiken Ashi candles for entry and confirmation...have been very busy at work and been nursing a terrible cold...soon as things slow down at work and my health is restored I can clock some more time to my manual trading ventures....by the way....a good source for EA reviews is

 

http://www.forexverified.com/

 

they will update you every week with signal and ea reviews.....there are only 3 ea's that they recommend at this time and they are trading live accounts with these three.

Edited November 19, 2010 by rick

[jamestan1978]

thanks soundfx