its interesting, i've been following for two weeks but it hasn't traded yet. You have to get used to it. But i would rather take 25% per month with <4% draw down over something that trades when it shouldn't
I agree. Harmonic Patterns don't appear all the time. Patience is the key and then trade when the time is right. It's trading right now. 😉 Equity up by 8.5% at the moment. Waiting to see how it will turn out. 😄
Only the first one was mine and it was with HotForex, but I was forced to close that account because their policy changed. The second one was on the very first series, the old 2 series. The other 3 are old third party accounts and on the very first series, the 2 series, so I have no control over that.
It is my intention to post results of live account for as long as possible.
Hi, No, it does not. But from your comment I can see that your account probably is trading only one pattern. On this account there are currently two patterns being traded. Finding a pattern or not can be a matter of 1 point difference in price feed between brokers.
Walter, it looks like the trades are in sets of 3, what is the maximum risk per trade you have it set on? The back test is showing drawdown as high as 34% for a monthly return on average of 17% per month over last 3 years. How does this compare with the previous version of the EA? I can't see a link now for performance of a backtest of the previous version to compare.
What improvements does this version have over the other?
aeronthomas posted: Walter, it looks like the trades are in sets of 3, what is the maximum risk per trade you have it set on? The back test is showing drawdown as high as 34% for a monthly return on average of 17% per month over last 3 years. How does this compare with the previous version of the EA? I can't see a link now for performance of a backtest of the previous version to compare.
What improvements does this version have over the other?
Let me explain some of the differences and similarities between the latest version HT ULTIMATE (that's the 4 series) and the previous series HarmonicsTrader v3.4.3 (that's the 3 series).
They both open 3 trades/pattern.
The 4 series works only on EU H1. (for now) The 3 series can be used on any pair/TF and has more settings to tweak. (optimize it first if you want to use it on anything else than EU H1!)
The 4 series works on every tick and always with hard SL & TP. The 3 series works on the close of the (H1) candle, so candle has to close past SL or TP for a trade to be closed. (but it has a safety hard SL further away)
The 4 series (can/will) trade(s) several patterns at the same time. (can be buy and sell) The 3 series closes open trades if opposite pattern is going to be traded. (so doesn't hedge)
HT ULTIMATE trades 10 patterns from the C point already. The HT v3.4.3 does that only with one pattern, the cypher.
The 3 series uses the (heavy) ZUP indicator and looks for patterns with a ZZ depth between 7 and 35. In the 4 series, each pattern has it's own optimized ZZ depth.
The 3 series has default a fib deviation of 5% on each point and the 4 series only 5% deviation on points with the same min and max values.
All this makes the HT ULTIMATE a little more accurate.
In the previous (3) series one could choose between Lots, Percent or Risk. In this new version we use 'Percent', behind the scenes. It is set to 5 percent of free margin is Lot size. (Only the Shark pattern uses 3.5%) This was tested on an account with leverage of 100:1. This lot size was chosen to keep the DD to a minimum when a pattern fails and hits the SL.
The EA automatically adjusts this percentage according to account leverage, meaning that if your account leverage is 200:1, which is twice as big as on the tested account, the lot size will be 5% * 100/200 = 2.5% of free margin, which gives us always the same lot size no matter what the account leverage is.
If you find that the lot size is too big or small for your likings , you can adjust it with the setting 'Lot Size Adjust', with a scale from -99% to +100% So in short, the lot size increases as your account grows and you can control that.
But there is also a setting 'Max Permitted Lot Size' to cap the lot size. You can set it to 0.01 lots if you like and that will be the max lot size it ever uses. In the next update there will also be a setting to limit the actual Risk (%DD) per pattern traded.
I recommend that anyone who uses HT ULTIMATE, does a short test run in the Strategy Tester of the account he/she is going to let it trade on. By doing this, you can see if the lot size is OK.
For even more detailed info, you can download, install and test in the strategy tester for free and for as long as you like, all series 2,3 and latest 4 series. User Guides are placed on your desktop upon installation. There are also FAQ on the web site.
ADVERTENCIA DE ALTO RIESGO: El comercio de divisas implica un alto nivel de riesgo que puede no ser adecuado para todos los inversores.
El efecto de apalancamiento crea un riesgo adicional y una exposición a las pérdidas. Antes de decidirse a operar con divisas, considere cuidadosamente sus objetivos de inversión, su nivel de experiencia y su tolerancia al riesgo.
Podría perder una parte o la totalidad de su inversión inicial. No invierta dinero que no puede permitirse perder. Infórmese sobre los riesgos asociados al trading de divisas y pida consejo a un asesor financiero o fiscal independiente si tiene alguna duda.
Todos los datos y la información se proporcionan "tal cual" con fines informativos únicamente y no están destinados a fines comerciales o de recomendación.
Los resultados pasados no son indicativos de los resultados futuros.