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Blessings 3.8 $5.00 Basket (By bluemele )

The user has deleted this system.

Blessings 3.8 $5.00 Basket Discussion

Alwin A Ashok (ajentha)
Sep 14 2010 at 16:35
14 posts
Hi Gil,

Can you give this set file setting of Blessing

bye
Alwin

bluemele
Sep 14 2010 at 16:57
272 posts
Sorry, I don't share set files with this EA...

Plus, I configure many different currencies slightly different with matrix.

:)

I just want to push others to play with it and not do it blindly and lose money. Sorry...

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
Alwin A Ashok (ajentha)
Sep 14 2010 at 17:52
14 posts
ok, gil, carry on,

Best of luck for your forex success

Have a blessed day to U

bye
Alwin

bluemele
Sep 14 2010 at 19:16
272 posts
Thanks.... :) My settings are 95% default, I just play with them constantly...

My focus is LOW DD.... :)

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
Alwin A Ashok (ajentha)
Sep 15 2010 at 03:28
14 posts
Hi,

thank you gil for your reply

bye
Alwin


Siitari
Sep 15 2010 at 04:30
111 posts
Hi Gil

I was wondering that which settings do you play around with to achieve low DD? So many settings there that can have affect on DD...

Less effort, better results.
bluemele
Sep 15 2010 at 04:33
272 posts
Mainly the matrix... :)

Also, I close out trades when/if they get to a certain point.

I use the EE or whatever it is called in that my TP goes down with time.

what else... Hmmm.... Oh, BE after 5... on most of the medium to fast currencies...

So far, the only thing working very well is my big bucket trading nano...

The market the last 2 weeks has been rough on blessings for some reason. My profits haven't been high and my DD's on some pairs have been high for the amount of $ coming in..

I would say a pretty terrible 2 weeks, but not as bad as first few weeks in July...

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
Siitari
Sep 15 2010 at 04:52
111 posts
Thanks, I'll have to focus studying those settings.

It reads in manual that you should use about $500 per open chart on micro account for B3 to trade 'safely'. So on a $2000 micro account you should trade only on 4 charts(each on 25% portion which gives us $500 per currency pair). Have you played around with this / noticed anything that confirms this?

Less effort, better results.
bluemele
Sep 15 2010 at 05:22
272 posts

Siitari posted:
    Thanks, I'll have to focus studying those settings.

It reads in manual that you should use about $500 per open chart on micro account for B3 to trade 'safely'. So on a $2000 micro account you should trade only on 4 charts(each on 25% portion which gives us $500 per currency pair). Have you played around with this / noticed anything that confirms this?


If you trade with these settings you mentioned, you will hit EP at least a couple times probably per year. The key is if your Grid profits are greater than your EP's.....

You will see I have smaller EP's set for my baskets. My hope is that I can sustain or be at least close to 0.00 for each basket. On 1,000 I can have a lot more 10.00 baskets then 200.00 baskets (which is default and what you are talking about...)

The largest drawdown I have seen on any currency through backtesting was 2,000.00 on a Nano account which went to 15 levels on EURJPY this year....

That was 20% of my 10K account.. Then GBPJPY, then AUDUSD, EURUSD, etc...

In my opinion the worst major pair by far is AUDUSD....

:) Gil

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
Siitari
Sep 15 2010 at 06:44
111 posts
Yes, I understand that one can have several more baskets if the size of basket is smaller. But doesn't that increase the risk quite dramatically? Of course profits can be higher too but risk is getting intolerable I think since the smallest lot is still 0.01(on micro).

I have not backtested B3 at all so I can't really say how these settings effect so I'll just refer to manual.

Because the way B3 trades the recommended(from manual) basket size for micro account is $500($239 is the actual value but to be safe it's rounded up and doubled) and by using LAF(multiplier, 0.5 default) the smallest lot size is calculated to be 0.01.

With this amount of money for one basket it uses 0.01 lot size. If basket size is doubled($500 -> $1000) lot size doubles too(0.01 -> 0.02). But if basket is smaller(ie. $200 or $100 or even $10) the smallest lot is still 0.01 which leads to significantly bigger risks. EP is reached a lot faster. Potential gain is outweighted by potential loss.


Like I said I have not tested these yet so I can't say how it really affects but it _seems_ a bit too risky with smaller basket size.

Of course with smaller baskets the DD is smaller too but since EP is calculated from the basket there's a lot less room for the price to move so it should hit EP more often shouldn't it?

Less effort, better results.
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