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.

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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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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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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

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