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Blessings V3_7-6 (By bluemele )

The user has deleted this system.

Blessings V3_7-6 Discussion

bluemele
Jul 20 2010 at 05:03
272 posts
Ok, it took me a week to recover from the GBPNZD removal (-200+ dollars). It then went on to make a huge move and I would have made a nice profit. I am happy to have removed it though and I have now removed its cousin, EURNZD. They just move too smooth and too much without proper retrace.

I have realized now with my trend following technique that the Currencies I will focus on are GBPNZD, GBPCAD, GBPAUD, EURNZD, GBPJPY, NZDJPY, etc...

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
fxgym (cun111)
Jul 20 2010 at 07:55
82 posts

Hi Gil

Have you ever tried to use CCI and BBS with any pairs? If yes, how were the results? I think you use only MA and others are set to zero. Then the whole trade rely on only MA. Is it safe? On the other hand I tried to use either CCI or BBS or both of them together but no trade happened for days. Ithink you do not use those filters for this reason. Have you ever used hedging?

Thanks,

Cuneyt

bluemele
Jul 20 2010 at 12:53
272 posts
If you use them together, you will not get trades.

Yes, I have tested BB. I had one that worked, (I don't recall which one), however, it was never as profitable and it took forever to get into trades. Plus, on some currencies it blew up quite a few times.

CCI doesn't work in my opinion.

Safe... If you are looking for a 'safe' EA, this isn't it. :)

The way I am using this EA is more about money management then entries. MA is good because you usually only get entered if it is changing direction for a bit. Yes, it will be wrong quite a bit, but that is how you make your money.

I have an 10K account. I trade 20 currencies, which gives each of them 500.00. Actually though I am letting each currency use the whole pile of cash to get 'right'.

For example, I backtested and some currencies (EURJPY and GBPJPY) had drawdowns of 10%+ on a 10K account using the entire thing each. However, during that time, many of my other currencies didn't have a drawdown. They were like 3% etc...

How everyone is using blessings is through equity protection on about 500.00 each per currency. You will get knocked out a lot like that.

I let it run 15 trades, be after 12 and the drawdown can be up to a very high number per currency. If they all share the pile of cash, they will all use the drawdown usually at different times. However, on a big move, several of them will use it all at once. So, I backtested and came up with a safe amount for all of them to use at any given time + another 40%. That was 500.00 per currency.

So, you see it is more about money management in my opinion. :)

So far so good except gbpnzd! That pair is just plain scary! haha...

gil

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
bluemele
Jul 20 2010 at 12:55
272 posts
The amazing thing is that EURNZD (runs almost identical to gbpnzd) didn't have any drawdown and made money the entire way down on the latest moves, while GBPNZD was in/in/in/in etc..

So, the benefit of doing more currencies with more cash but using penny per pip is that the chances of you getting into a bad trade that wipes you out is lessened.

Gil

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
fxgym (cun111)
Jul 20 2010 at 13:26
82 posts

Hi Gil,

Thank you for your detailed explanations.

Cuneyt

bluemele
Jul 23 2010 at 17:31
272 posts
Here is a response to a message I got from someone asking me to send them the EA's with settings. My advice is to research your own and find what fits your personality. I do not feel the interest in being responsible for your demise if that does happen by using these strategies. In addition, I use my own judgement on when to turn on/off as well, so that takes some experience.

--------------------------
Hi,

Yes, you can download them yourself with your own settings. I wouldn't feel right in supplying someone with a losing strategy if that occurred. Sorry.

forex-tsd.com search for 'blessings 3' on google

forexfactory.com search for NanningBob 60x90 EA. I use my own modified version and manually change trades so you could probably not replicate.

These EA's could blow up because they use Martingale and only experienced users should let themselves play with them.

Gil

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
bluemele
Jul 23 2010 at 17:34
272 posts
Having a bit of a drawdown on EURAUD. It was on my fringe list of whether I will use it or not along with EURCAD. I have discovered that EURCAD is a bit safer and EURAUD can move! I knew that, and I will wait to see how the latest goes with this run down, but so far, quite a move with no retrace.

Seems like all the AUD pairs are very good trending pairs (lately) with little retrace!

Gil

Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
bluemele
Jul 25 2010 at 16:52
272 posts
Something I realized finally about the EURAUD in that it is the perfect trending pair.

GBPNZD is quite good, but it will not stay within an ATR as tight as the EURAUD. When you trade euraud, it is the best of both the eur (which trends very very well) and aud which trends great as well!

However, what happens is that the EUR/USD seems to tie into the market conditions (S&P/DOW) and it will highly correlate with the Australian pairs as AUD pairs always correlate with stock/futures market. However, when they diverge, the EUR/USD works almost opposite of the market and when it does and the AUD correlates with market, then you have a fantastic divergence and an amazing trending pair.

So, if you believe that the EURUSD will correlate with market (which I do in the mid-term, if EUR is to go up anymore), and you believe the market is headed North some, then the EURAUD should range some until the EURUSD and the stock market change their minds.

So, Blessings has taught me while playing with cross pairs that EURAUD is probably the single best pair that I have discovered that would trend the best within a certain ATR (average true range). So, for blessings, that means I should stay far away from it!


Be Open, honest and ethical and all the $$$ you want will come. (hint hint)
fxgym (cun111)
Jul 26 2010 at 10:36
82 posts

Hi,

EURCHF also is good😄

cuneyt

Alwin A Ashok (ajentha)
Jul 27 2010 at 03:15
14 posts
Very useful explanation Gill

Thanks lot
Which broker is reliable for cent account

Can you give for set file for Blessing

Have a blessed day to U

bye

ajentha

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