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IBFX Live (By Rolf Widmer )

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IBFX Live Discussion

Demetre
Nov 30 2009 at 09:33
2 posts
would you care to share in your EA's success?
Rolf Widmer (rolfwidmer)
Nov 30 2009 at 09:49
36 posts
I use ILAN or eurusd (free EA). as it is a martingale with some risk it has to be supervised.
Mike (mcmalach)
Nov 30 2009 at 22:04
5 posts
your using ilan what settings are you using? doing quite well with it also are you using v1.6
Rolf Widmer (rolfwidmer)
Nov 30 2009 at 22:12
36 posts
it is v1.6 with rsi filter, lotexp1.59, takeprofit=10, pipstep=30, pipstepexp=1.2, maxtrades=10
on h1 chart
emc2forex
Dec 02 2009 at 14:50
7 posts
What parameters are you using for StopLoss, TrailStart, TrailStop? Is it posible o attached your a *.set file here? Thanks in advance and good luck
Rolf Widmer (rolfwidmer)
Dec 02 2009 at 14:56
36 posts
stoploss, trailstart and trailstop don't work in ilan even if they exist. Anyway it is against the concept of ilan. so i didn't change the standard values there. As i don't know how post a file, I place here the settings
Stoploss=500.00000000
TrailStart=10.00000000
TrailStop=10.00000000
LotExp1.59000000
slip=3.00000000
Lots=0.10000000
lotdecimal=2
TakeProfit=10.00000000
Pipstep=30.00000000
PipStepExp1.30000000
RsiMinimum=30.00000000
RsiMaximum=70.00000000
MagicNumber=2222
MaxTrades=10
UseEquityStop=0
TotalEquityRisk=20.00000000
UseTrailingStop=0
UseTimeOut=0
MaxTradeOpenHours=48.00000000
emc2forex
Dec 02 2009 at 18:08
7 posts
great! Thanks, Do you know if this EA works at Alpari 5 digits quotes? Should I multiply by 10 the parameters value or the EA auto detect 5 digits broker?
For example instead of TakeProfit=10 should be 100?
Rolf Widmer (rolfwidmer)
Dec 02 2009 at 18:19
36 posts
yes, you just have to multiply takeprofit, slippage, pipstep with 10. it does not detect 5 digits automatically.
Rolf Widmer (rolfwidmer)
Dec 02 2009 at 18:22
36 posts
btw: be aware that this is a martingale. sudden large moves can blow an account. so take care.
emc2forex
Dec 05 2009 at 00:51
7 posts
thanks! Is it necessary to multiply the PipstepEXP by 10 as well from 1.3 to 13? I have attached the EA on the 1H time frame as you but my results are different...
Rolf Widmer (rolfwidmer)
Dec 05 2009 at 06:41
36 posts
no both exp remains as they are. in what sense are your results different? they can vary depending on the point in time when you enter as ILAN takes the direction of the last bar and enters into that direction, so if you enter 1h later than me (and I sometimes enforece a first trade earlier by switching the timeframe and back) than you can have different results. but the long-term performance should be the same
rigor01
Dec 07 2009 at 06:38
7 posts
Hi would you share with us how do you supervise the trade? As you can't be sitting in front of the desk all the time, what signal from the trade that trigger your intervention? Do you also consider fundamental news?
Rolf Widmer (rolfwidmer)
Dec 07 2009 at 07:49
36 posts
with ILAN you face 2 major risks:
1. sudden spikes; here I have to optimize the settings to exclude the most probable moves. The rest is residual risk which only can be accepted by periodcally withdrawing money from the account.
2. changes in trends: if a change in trend happens and a big retracement is unlikely I have to close the trades. this can be analyzed once a day or even every second day. here the analysis of fundamental data or information is important as well to identify the probability of a false reversal.
rigor01
Dec 07 2009 at 13:41
7 posts
I have read through your setting and found that non of my copy similar to yours. I have v1.6 with RSI only and v1.6 without it. May be you could tell the source of the free EA?

<a href=https://www.myfxbook.com/files/rigor01/Double(Ilan1_5&Ilan1_6).mq4 target='_blank'></a>
<a href=https://www.myfxbook.com/files/rigor01/Ilan_1.6.mq4 target='_blank'></a>
<a href=https://www.myfxbook.com/files/rigor01/Ilan1.6_PipStepExponent_1.4.mq4 target='_blank'></a>

Attachments:

Bob Loblaw (arana67)
Dec 07 2009 at 14:36
3 posts
rolfwidmer posted:
    with ILAN you face 2 major risks:
1. sudden spikes; here I have to optimize the settings to exclude the most probable moves. The rest is residual risk which only can be accepted by periodcally withdrawing money from the account.
2. changes in trends: if a change in trend happens and a big retracement is unlikely I have to close the trades. this can be analyzed once a day or even every second day. here the analysis of fundamental data or information is important as well to identify the probability of a false reversal.

1) What do you mean by 'exclude the most probable moves?

rolfwidmer posted:
    stoploss, trailstart and trailstop don't work in ilan even if they exist. Anyway it is against the concept of ilan. so i didn't change the standard values there. As i don't know how post a file, I place here the settings
Stoploss=500.00000000
TrailStart=10.00000000
TrailStop=10.00000000
LotExp1.59000000
slip=3.00000000
Lots=0.10000000
lotdecimal=2
TakeProfit=10.00000000
Pipstep=30.00000000
PipStepExp1.30000000
RsiMinimum=30.00000000
RsiMaximum=70.00000000
MagicNumber=2222
MaxTrades=10
UseEquityStop=0
TotalEquityRisk=20.00000000
UseTrailingStop=0
UseTimeOut=0
MaxTradeOpenHours=48.00000000


If Pipstep is 30 and your TP is 10, shouldn't the EA close your trade before you open more trades? Or does it mean that it'll open a new trade when you're down 30 pips?
Rolf Widmer (rolfwidmer)
Dec 07 2009 at 16:06
36 posts
probable moves are spikes which can happen all the time (300 pips as last week, even if my account is slightly thin for this size). Less probable is 500+ pips without major retracement.

The EA opens trades if the price goes to the 'wrong' direction, that is controlled by pipstep and MaxTrades. so I am long but ILAn opend trades as prices dropped.
rigor01
Dec 08 2009 at 09:02
7 posts
Do you control the spike by closing the orders manually? or you add in code and let EA control it?
rigor01
Dec 08 2009 at 09:13
7 posts
Sorry, another question: do you manually disable trade for some of the currency pairs due to certain reasons? I noticed that majority of the trades and profit contributed by eurochf.

Thanks for the sharing.
Rolf Widmer (rolfwidmer)
Dec 08 2009 at 09:30
36 posts
for spikes: sometimes I disable the EA to prevent further trades, such as yesterday. it was only the 2nd time in 4 months.
Related to pairs: on this account i only trade eurusd (as you can see in the summary), on my other accounts I mainly trade eurchf.
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