BlueMonkey Real Money Live Test == Started Oct 2014 diskuse

Alex please take a look in my email cheers!

filipesantos posted:
Alex please take a look in my email cheers!

will answer all emails in a few hours.

A

@bluemonkey

Here is the concept to limit the loss owed to the drawdown, it is ' the stoploss by stage '.

The general explanation is in this sentence:
' When the drawdown reaches the maximal level of loss that you settled, the EA will close the oldest position taken on the pair. '

Now here is the illustration of this idea:
In the configuration of your robot, when you attach it to a currency pair, you have to fix the threshold of release of the stoploss in percentage of your capital.
Until now, once this level reached, the robot enclosed all the positions taken on this pair.
Now I propose you ' stoploss by stage ' that would allow to enclose the oldest position taken on a given pair when the drawdown reaches the fixed threshold, and it until the trend returns in our direction.
Naturally it understands that the robot continues to open its new positions to continue its suite.

If the EA is attached to several currency pairs, it is the one which will reach the level of maximum fixed drawdown which will activate ' the stoploss by stage ' in the first one, and so on...

Advantages:
- You don't lose the total amount of the drawdown because it is splitted.
- In every older position removed, the take profit gets closer to the price.
- You can take bigger positions easily.
- The drawdown will not exceed the value fixed in percentage because it will be 'scalped' in its peak.

Inconveniences:
- To be positioned contrary to a trend of more than pips 300 at least, without retracement, what is rare but possible. But ' the stoploss by stage ' will continue its work.

For the technical details and the coding of the ' stoploss by stage ' in MT4, there are several possibilities :
You can command your robot to close ' lots ' or ' groups of lots ' such as they were opened, because, as I noticed, when there is big movements, the EA opens a group of lots after a number of pips to catch up the delay.

If you have any questions, do not hesitate to ask me.

bluemonkey posted:
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1 Free licence to be given out.

Question: We are trying to find out the best stoploss number. currently we are using 30% as our stoploss but almost never we get close to it. What would be the best number for the stoploss based our history? We need the answer to be discussed on the forum and to should make sense to all active traders of the EA. We will announce the winner in 2 weeks (December 22nd). Please think out loud, correct each other and lets come to a conclusion we all benefit from.

Reward: WE WILL GIVE OUT A FREE LICENCE TO WHOMEVER COMES UP WITH THE BEST ANSWER.

Alex

As far as I can see BlueMonkey is a kind of GridTrader. It has been quite a while that I was playing with this idea, but I found it too dangerous. On the other hand s.o. told me you can really make money but you need to withdraw the profits and restart if the account was crashed.

That leads me to the idea to calculate the risk (e.g. 30%) on a different base. Don't use the real AccountBalance to calc. the lost-size based on the 30%-risk but use a virtual acct.-balance which is e.g. 10% of the real account balance. If this is done correctly BlueMonkey could have 10 (virtual) account crashes in a row until all the money has gone.

I think this approach reflects better a) the crash danger and b) the trade danger. If you have only your 30% both kind of risks are merged together and may be that's why you're not satified?

So in the list of extern variable add a percentage of how much % the virtual account-size should be..

Mine opened a huge trade on GBP/USD which I could not close due to fifo and I lost $600 on default settings. I could not find a similarly sized trade in the official account.

bluemonkey posted:

filipesantos posted:
Alex please take a look in my email cheers!

will answer all emails in a few hours.

A

please check your email

Thanks

Just a question! Let's say I am starting an account with $3000 initial balance, then should I change the 'initial_lot_per_10000' setting to 0.06? And do this for all the three pairs?

EDIT: Or does the EA adjust itself based on the account balance automatically?

Ea will do it it's self. If you want to use at default settings, then the setting should be .2 for 10000 units. To decrease risk, then the number gets smaller from there. To increase risk, number then gets higher.

calm down guys... maybe it was just an misunderstood... we're here to help each others...

take it easy you two ;)

i just read this quote and i thought it made lots of sense:

https://www.wirgool.com/how-can-you-allow-the-trading-companies-to-locate-computers-closer-to-exchanges-and-flash

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NEW PAIR ADDED: Please add USDCAD to the pairs.

A

Hi dears.
This EA make same trades and pips on different brokers?
And Pips earned by users and their trades are the same with the results of vendeor in myfxbook?
(regardless of lot size and And slippage problems)

bluemonkey posted:

filipesantos posted:
Alex please take a look in my email cheers!

will answer all emails in a few hours.

A

PLEASE ALEX...........ANSWER EMAILS.....the demo account that I have asked is not Trading.......

bluemonkey posted:

filipesantos posted:
Alex please take a look in my email cheers!

will answer all emails in a few hours.

A

My demo Account is still not Trading...what's going on??? ( Live is trading). Alex please help

good news

@bluemonkey without any EA update? if it so we can virtually add any pair!

Hello,

@bluemonkey Can you consider my concept of stoploss for your robot on the previous page ?
I think that we could take more important positions without risking all our capital and so we'll grow up faster our capital, for those who want that.
 
Moreover, What do you think of this idea dear readers and owners of the bluemonkey robot ?

Best regards.

bluemonkey posted:
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NEW PAIR ADDED: Please add USDCAD to the pairs.

A

Hi Alex,
Have you done any back test and forward test on this new pair USDCAD? If yes please share the results with members.
Regards,
DDR

bluemonkey posted:
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NEW PAIR ADDED: Please add USDCAD to the pairs.

A

yeah! go bluemonkey!!!