FX Rogue Wave 2.5 Automated Breakout - Time Based Discussion

So now that my account is at $11k i should be at .22 lots. Correct? Move up .01 every $500?

.22
.44
.88
1.76

That is correct 😄

looking good!

Looking good tonight!!!!

I dont know why, but I get sooo sad when the math logic is doing its thing and is in a DD. I know that within so many trades it will swing back into the profits. Do you experience the sadness also?

Of course. There is a psychological tendency against loss of any kind. I have yet to see an EA that wins 100% of the time. At least with FX Rogue Wave, there are 4 chances to recover. In back tests on the EURJPY pair, 4 losses in a row occurred 15 times in 5 years. So the odds are pretty good that most trade sequences will win in 1 of the 4 trades. Kind of like counting cards in Las Vegas, I wanted to put the odds in the player's favor against the house.

So, i was wondering if you expermented much with larger and smaller tp and sl? like 10/10 or 20 and 20 or 200 and 200? Is there a sweet spot on the 15 minute chart for predicting the right direction and profiting before it changes directions? IM enjoying testing it live on demo. Thanks for the option of demo testing for free.

To date, I have tested different TP, SL and a few indicators to predict direction. So far, using the 1:1 risk/reward of the channel has shown the best results so far.

1:1 is good. I was attempting to use smaller lots and multiple pairs. reveiwing now the smaller pip spread pairs. Id like to set up a 10 or 20 pair setup with the Rogue on demo. The curve may be flatter for sure.

Im looking at this page for spreads on pairs.

https://www.myfxbook.com/forex-broker-quotes/traders-way/1043

I am currently back testing different pairs and will be posting the results to my website and here as I complete them. That may be of help.

ibthescottyb posted:
To date, I have tested different TP, SL and a few indicators to predict direction. So far, using the 1:1 risk/reward of the channel has shown the best results so far.

I have been reading about setting up a EA in a upside down Pyrimid SL and TP structure. WHat you think? it would be like 2/1 risk reward. But I think your trailing sl fills that profit gap correctly.

My EA current has bot a buy and sell order open. The buy is on the second level of lot sizes and the sell is on the first. Does this usually happen or is it something that doesn't?

The EA should only have 1 open order per pair. Although if the EA was reloaded/rebooted during a trading sequence with Model 0 being used, it can reset it's history and open more than 1 trade if the conditions exist.

From the user guide:
If you are concerned about your trading platform losing power or rebooting during a critical time (like during a trading session), you should load the EA with model 0 to clear the memory, then go back into the settings and change Model to 1. This will lock the EA and it will keep track of itself. In the event of a reboot, it should reload with the previous settings. Metatrader programming language is limited in this area, so I cannot guarantee that the setting will return in all cases, but it is better protection than nothing at all if you have a trading platform prone to resets.

To my knowledge, my system was never shut off. It was running on my pc and if it had been shut down by someone, no one would know how to turn it back on... so for the record, my ea should be set to model 1 to save all the current settings?

Hi Shawn, the ea is designed to draw entry points and begin the order sequence when loaded on a chart. If loaded with model 0, it will redraw and reset each time it is loaded on the same chart. If you plan to let the EA run all the time, load the EA on a fresh chart with model 0 to ensure all previous settings have been erased, then with the ea on the chart, go back into the settings and change the the model to 1. This setting will remember the entry points and order sequence so in the event of a reboot, reload, it will pickup where it left off.

If model 0 is set and the EA is reloaded on a chart, or mt4 reboots, the EA will redraw entry points and trade based on the conditions when it was most recently loaded. In model 0, it will not take previous orders into consideration and only trade based on the current entry points.

Hope that helps 😄

Scott

Clarification: I load the EA with model 0. Once 12:00 hits and new entry points are drawn, I change to model 1.

Current trade is in the profit!