To make safest EA on planet

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yoko eagle
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If you've been trading for years then you'll realize the top priority is security when opening a new op. 

My idea: 

- Do only one profitable position in a day with 10 pips. 

- if a drawdown occurs more than 1 hour, a second op is opened by reanalyzing and adding several new methods with only one goal: breakeven as soon as possible. 

- if the second op fails and still draws down then ea will no longer open a position on the same day.  Next day new op with the same aim of breakeven. 

- if the second op is successful, ea pause for 2 hours before do a new op.

- after one profitable position no more new op 

Hope this idea can be useful.

Replies 14
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yoko eagle

yeah.. it is just an idea and some of my opinions. Good enough to start the discussion and awareness.

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Alexander Medvedyev

Once again, your idea "safest EA on planet" is very nice indeed, but too general. If you truly believe in "10 pips per day, without martingale" - make your own research.  When finished - make suggestion here as specific/detailed "ruleset" (be ready to address RR ratio).

Forex is not equities.  Lots of volatility, price can change direction sharply any time.  Trends in forex can be identified only AFTER they are finished..  it's an interesting discussion and can last forever.


For practical use - if you think you can just throw an idea and some "expert" will service it for you, or explore it for you (all the hard work) - that's unlikely and doesn't work that way.  

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yoko eagle
Quote from Alexander Medvedyev

Referring to original idea:
QUOTE

My idea:

- Do only one profitable position in a day with 10 pips.

- if a drawdown occurs more than 1 hour, a second op is opened by reanalyzing and adding several new methods with only one goal: breakeven as soon as possible.

- if the second op fails and still draws down then ea will no longer open a position on the same day. Next day new op with the same aim of breakeven.
...
UNQUOTE

Clarification Q:
Let's look this situation with more numerics, say drawdown happen 3 days in a row (quite a possibility), and total loss 300 pips, what's next?
1. How do you plan to recover the losses?
2. How long it will take?   

I believe there's some helping tools out there to identify a trend in trading manually. I myself use one that based on daily range. Not 100% accurate and trend can be change anytime, also sometimes unidentified.. So on manual trade  usually it won't happen cause I will place order on opposite direction. 

worse case is to cut loss at minimum losses we can reach.

"How long it will take?"

Expert suggestion needed here.

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yoko eagle
Quote from Sai Pratap

'"The next thing is if the OP goes negative -> to make breakeven with recalculate the trend after certain period of time. Only once daily."....If we can identify that trend and reversal point so correctly, everyone would have become billionaires here. We can never predict the market exactly right. Even if we had already been close, Andrey sir would have already implemented in the default sir and never goes into DD. Atleast we are making good profits by not limiting ourselves to 10 pips  but waiting for a proper signal for closing in default set.

Also, iam sorry, iam confused with ur statements "No martingale" and "The next thing is if the OP goes negative -> to make breakeven with recalculate the trend after certain period of time." Both the statements are contradicting. What if we go wrong again in identifying the trend "after certain period of time" and goes against our trade? Plz clarify.

For the breakeven recipe still need to be discussed to find the safest method. Need to find other way other than usual martingale. 

its great if sir andrey has implemented it. We just need to add some option to make it safer to use maybe with target only 5% monthly profit.

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Alexander Medvedyev

Thanks, Sai!

"Market always brings u a bad surprise" - 100% agree, cannot say better, you nailed it.

We are all optimists here, but realists too.. profitable strategy can be simple, but not primitive, and never risk-free. 

Having said that, "Safest EA on planet" should be a little bit more comprehensive, thought out and robust. 

Thanks once again!
Peace))

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Sai Pratap

Just not to disappoint u, even if we go optimizing for the entire past, market always brings u a bad surprise. :(

I would like to share my experience here.

I had taken a set live on my account in mid 2021 which had not failed in MT5 backtest from Jan 2018 to Apr 2021. Also came out with flying colours with very less DD of 20% with gain of making 1000$ to 45000$ duirng that backtest. As u r aware even the default set failed in 2018 but this set did not. So I have taken it live on my account(not cent account). That set had nearly blown off my account the next month but luckily i manually closed with loss when DD reached 50%. If I had not closed, it must have blown off my account. So past never indicates the profit of future and we cannot assume that we are 100% safe. 

Sry again. 

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0
Alexander Medvedyev

Referring to original idea:
QUOTE

My idea:

- Do only one profitable position in a day with 10 pips.

- if a drawdown occurs more than 1 hour, a second op is opened by reanalyzing and adding several new methods with only one goal: breakeven as soon as possible.

- if the second op fails and still draws down then ea will no longer open a position on the same day. Next day new op with the same aim of breakeven.
...
UNQUOTE

Clarification Q:
Let's look this situation with more numerics, say drawdown happen 3 days in a row (quite a possibility), and total loss 300 pips, what's next?
1. How do you plan to recover the losses?
2. How long it will take?   

Avatar
0
Sai Pratap
Quote from yoko eagle

Since this is 10 pips profit, analysis, method and technical for the new entry point I leave it to the expert of ea maker here to find the safest recipe. Initial lot size 0.01 with minimum 2000% margin level initial balance.

No martingale

If the OP success -> enough for the day.

The next thing is if the OP goes negative -> to make breakeven with recalculate the trend after certain period of time. Only once daily. 

After breakeven successful, recalculate trend -> new OP.

So there is no take profit OP before breakeven.

'"The next thing is if the OP goes negative -> to make breakeven with recalculate the trend after certain period of time. Only once daily."....If we can identify that trend and reversal point so correctly, everyone would have become billionaires here. We can never predict the market exactly right. Even if we had already been close, Andrey sir would have already implemented in the default sir and never goes into DD. Atleast we are making good profits by not limiting ourselves to 10 pips  but waiting for a proper signal for closing in default set.

Also, iam sorry, iam confused with ur statements "No martingale" and "The next thing is if the OP goes negative -> to make breakeven with recalculate the trend after certain period of time." Both the statements are contradicting. What if we go wrong again in identifying the trend "after certain period of time" and goes against our trade? Plz clarify.

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0
yoko eagle
Quote from Hannes Waser

I understand the goal to reach more safety during trading. But the approach doesn't seem legit. 

Two questions need to be answered first:

1) what is risk? (Position size,..). Try not to use statistical metrics here. Stats fail.

2) what actions do we have to reduce it while keeping the profitability? (Creativity and tricks are required here).

so even if we find an approach here, I think it would be way to complex to be implemented inside CP.  By now, I am already overwhelmed by all the combinations and effects in the "hedging" settings. :/

so maybe some alternative way is to be discussed  🤷🏻‍♂️


Since this is 10 pips profit, analysis, method and technical for the new entry point I leave it to the expert of ea maker here to find the safest recipe. Initial lot size 0.01 with minimum 2000% margin level initial balance.

No martingale

If the OP success -> enough for the day.

The next thing is if the OP goes negative -> to make breakeven with recalculate the trend after certain period of time. Only once daily. 

After breakeven successful, recalculate trend -> new OP.

So there is no take profit OP before breakeven.

Avatar
0
Hannes Waser

I understand the goal to reach more safety during trading. But the approach doesn't seem legit. 

Two questions need to be answered first:

1) what is risk? (Position size,..). Try not to use statistical metrics here. Stats fail.

2) what actions do we have to reduce it while keeping the profitability? (Creativity and tricks are required here).

so even if we find an approach here, I think it would be way to complex to be implemented inside CP.  By now, I am already overwhelmed by all the combinations and effects in the "hedging" settings. :/

so maybe some alternative way is to be discussed  🤷🏻‍♂️