FX Rogue Wave 3.0 Reversal Strategy - Acct #1 Discussion

mql5 it says ' When they agree the trend is LONG, a BUY is placed at .01 Lots with a TP of 40 pips'

so when it does decides to martingale it?

Hi Rob, thank you for stopping by. On MQL5 it states more than just that:

The Martingale begins if our last trade goes against us and is used to recover and provide more profit.

Scotty: Here a web site thats seems very interesting. They are also using a unique broker that seems like the perfect choice for micro trading and or hedging. They even allow us USA clients to trade and hedge as we need to.

https://www.fxroguewave.com/

The sites owner is good about helping others with questions. He provides signals based on his EA.

Garry

Thank you Professor - I wanted everything in one place to see where this experiment goes.

No Problem Scotty: I was hopiing to get in on the christmas bounce with your signal. But Im waiting for my bank account to settle down . Most likely the first monday after Christmas I will do the afiliate link and start up a real money account with your recomended broker. It looks like a perfect way for us here in the USA to start up a small Micro trading account or two. The ability to also hedge is big news for my trading.

Thanks
Merry Christmas and Happy New Year.

P53

aka
Garry

EA Available for testing on DEMO accounts - please share your best .set files.

ibthescottyb posted:
EA Available for testing on DEMO accounts - please share your best .set files.

hello,

what time frame should the EA work?

regards

And what are the best charts to at tach to? Any kind of manual?

Once the indicators detect a trend movement, the EA begins trading. The sooner this detection takes place, the sooner trading begins. I use the 1m chart on EURUSD – GBPUSD – USDCAD – USDJPY – AUDUSD – NZDUSD – EURJPY – USDCHF.

As requested, I have attached the user guide. This is the same user guide that my customers receive that request an evaluation copy.

ibthescottyb posted:
Once the indicators detect a trend movement, the EA begins trading. The sooner this detection takes place, the sooner trading begins. I use the 1m chart on EURUSD – GBPUSD – USDCAD – USDJPY – AUDUSD – NZDUSD – EURJPY – USDCHF.

As requested, I have attached the user guide. This is the same user guide that my customers receive that request an evaluation copy.

whe don't need the wave indicator?

regards

Hi Scotty,

I will also be using an FBI account and finfx account to run this demo but what are the lot setups based on the FBI account for lets say 50000 starting and the same with a finfx but they have 1:200 leverage?

whe don't need the wave indicator?

regards
The indicators used are simply to get the trading process started. Once trading begins, new sequences are opened as each sequence closes.

askew8 posted:
Hi Scotty,

I will also be using an FBI account and finfx account to run this demo but what are the lot setups based on the FBI account for lets say 50000 starting and the same with a finfx but they have 1:200 leverage?

Here are some examples for account balance requirements using the EA as-is:
Nano Lot Account with 500-1 leverage = $200.00 minimum balance
Standard Lot Account with 200-1 leverage = $20,000.00 minimum balance
Standard Lot Account with 50-1 leverage = $100,000.00 minimum balance

The EA as-is uses the following lot sizes based on the account examples above

.01, .02, .04, .08, .16, .32, .64, 1.28, 2.56, 5.12...

So if you were using a brokers Standard Lot Account with 200-1 leverage = $20,000.00 minimum balance. You would increase the initial lot size for every 20,000 in account balance by .01. With a 50,000 balance it would be .02, .04, .08, .16, .32, .64, 1.28, 2.56, 5.12, 10.24. Until 60,000 then we up it again. .03, .06, .12, .24, .48, .96, 1.92, 3.84, 7.68, 15.36.

Be careful that your highest lot sizes do not exceed the brokers maximum lot trading limits. I do not know what finfx is, but FB has a 100 lot maximum trade.

I think 5 minutes to start the trades is fine... I back test on the 1 hr my self with with EA.

Standard Lot Account with 50-1 leverage = $100,000.00 minimum balance

To be honest, even if I had the money, I would not use a standard lot with 50-1 leverage. The amounts needed begin to enter the realm of the ridiculous. But, for back testing purposes, I use a 50-1 standard lot account (FXCM) with $200,000 which is similar mathematically to a 500-1 Nano Lot account.

I have attached a 5 year back test report for EURUSD using 1m metatrader data.

As you can see, the price broke out of the encoded channel on 3 occasions during this time. Each time the price returned to our trade sequences closing in profit. The final set of losses were caused by the open orders closing at the end of the test period and not by standard loss.

My intention is to reset the EA with a new magic number any time the highest iteration is used. By keeping the previous sequence open and allowing new sequences to being, my income stream remains somewhat constant which is my personal goal for this EA.

Professor53 posted:
I think 5 minutes to start the trades is fine... I back test on the 1 hr my self with with EA.

Absolutely. It really does not matter the time frame. It will just take longer for the indicators to line up to start the trading sequences on higher time frames.