The Channel Scalper

[ApacheDan]

Originally Posted by rsmereka

Hi Dan,

Very sweet statement. Almost 10% in one day
Keep in mind that the almost 10% in one day is from the risk percent. I usually set demo EA's very hot just to see how much they will take before blowing. I usually run some backtests to get an idea (historically) how much risk to pile on.

Rick

Hey Rick, I will start backtesting soon...just that I prefer forward testing. Anyways, I got to do some work, I'm testing 4 EA's at the same time & need to have only one per broker , like you said results might be messy otherwise. Need at least one more demo broker . Also want to set up an online results type of account...need to make my life easier..

Anyways, I attached the time where most trading occurred. It puzzles me that all of them were shorts & no longs. I couldn't find anything in your set to favor only shorts....do you? can't be a coincidence with 11 trades??? a little price trendy at the time perhaps?

[ApacheDan]

It is trading right now!! it is 3:12pm EST Florida time. Two trades open...this thing is running on steroids!!

I better take a hard look at what you did to that set..LOL

[rsmereka]

Originally Posted by ApacheDan

It is trading right now!! it is 3:12pm EST Florida time. Two trades open...this thing is running on steroids!!

I better take a hard look at what you did to that set..LOL

About half an hour ago, I downloaded version 1.11 and loaded it up with the same set file I was using with 1.06. Yep, it's trading right now. Both demo and live accounts. I have my live account risk set to 1.0 and it is trading only .12 lots with three trades. My demo account is another story. Two trades at 2.41 lots each On top of that the other EA's on my demo account decided to wake up. EB-Turbo, Cash Cruiser and The Channel Scalper are all trading as I write this. I cannot recall a time when this last happened.

Don't worry about the short trade only. I think that is the way it is programmed. It seems to me I remember posts in the thread talking about this but I cannot remember the details.

Rick

[ApacheDan]

[QUOTE=rsmereka;6328 I have my live account risk set to 1.0 and it is trading only .12 lots with three trades. My demo account is another story. Two trades at 2.41 lots each
Rick[/QUOTE]

Hi Rick, just checking how the week ended up for you, live & demo? My demo v1.11+ your set seems too risky, lots of winning trades, then it hits those big SL & we're back to were we started. I just started running a second demo with risk level 2.0, see if that helps. I like to Demo closer to settings I might trade live.

I found out that Alpari UK does not take US Citizen's accounts Now I'm experimenting with IamFx..see if that works. Regards, Dan

[rsmereka]

Originally Posted by ApacheDan

Hi Rick, just checking how the week ended up for you, live & demo? My demo v1.11+ your set seems too risky, lots of winning trades, then it hits those big SL & we're back to were we started. I just started running a second demo with risk level 2.0, see if that helps. I like to Demo closer to settings I might trade live.

I found out that Alpari UK does not take US Citizen's accounts Now I'm experimenting with IamFx..see if that works. Regards, Dan

Hi Dan,

In regards to broker choices, please ask here. We are very familiar with the various brokers and their rules.

I am not happy with the version 1.11 using my set file from version 1.06. It trades too often and takes too many chances. The week is not over yet but here is an early summary (demo account only):

total trades

select count() from closedtrade where magic = 40 and closedatime >= '2010-02-20 00:00:00'
database result:
row(1):Array ( [count()] => 27 )

pips

select total(pips(ticket)) as p from closedtrade where magic = 40 and closedatime >= '2010-02-20 00:00:00'
database result:
row(1):Array ( [p] => 3.0 )

PL

select total(pl + rollover ) as t from closedtrade where magic = 40 and closedatime >= '2010-02-20 00:00:00'
database result:
row(1):Array ( [t] => 4.66 )

It's too early to say definitively but it looks like there is a lot of activity for a very small gain.

In contrast, here is what happened in my live account this week so far using version 1.06:

total trades

select count() from closedtrade where magic = 40 and closedatime >= '2010-02-20 00:00:00'
database result:
row(1):Array ( [count()] => 9 )

pips

select total(pips(ticket)) as p from closedtrade where magic = 40 and closedatime >= '2010-02-20 00:00:00'
database result:
row(1):Array ( [p] => 36.0 )

PL

select total(pl + rollover ) as t from closedtrade where magic = 40 and closedatime >= '2010-02-20 00:00:00'
database result:
row(1):Array ( [t] => 62.69 )

These live results are using risk 1.0. I am, so far, very happy with these results. I am going to run one more week at risk 1.0 and then, if all goes well, gradually increase it.

I believe the key difference in the two versions with the same set file is that version 1.11 trades well outside of the 20:00-22:00 window which, according to the research in the forum thread is the ideal time for channel scalping on the EURGBP pair.

I am either going to modify my settings on the 1.11 version on my demo account to change the trading hours or I am going to go back to version 1.06 which has proven itself in just shy of three months demo trading.

Rick

[ApacheDan]

Originally Posted by rsmereka

I am either going to modify my settings on the 1.11 version on my demo account to change the trading hours or I am going to go back to version 1.06 which has proven itself in just shy of three months demo trading.

Rick

Just modified 1.11 set with Alpari to Risk 6, hours 20-22, SL 25. I will switch the other demo to v1.06 & see what happens with this forward testing.

question:
Alpari UK is supposed to be GMT +1, so are these settings correct?
summergmtshift=2
wintergmtshift=1

Dan

[rsmereka]

Originally Posted by ApacheDan

Just modified 1.11 set with Alpari to Risk 6, hours 20-22, SL 25. I will switch the other demo to v1.06 & see what happens with this forward testing.

question:
Alpari UK is supposed to be GMT +1, so are these settings correct?
summergmtshift=2
wintergmtshift=1

Dan

Dan,

I would not change the SL value if I were you. It has a major impact on performance IMHO. I think I will see if I can change the version 1.11 trading time. The trading time settings went through a major change between the two versions.

Yes, Alpari UK is (currently) GMT + 1. At 2:00am local time on March 28, it will be +2. Those settings are correct. Most of the backtests on the forum where done by the EA author using Alpari UK as the broker .

Finding a good non-NFA broker for US citizens is a challenge from what I have read. IMHO, it is important that the broker be non-NFA because of the silly rules imposed a while ago. Also note the proposed CFTC rules. Best type of broker IMHO is in Europe that is independently registered/certified.

Please keep us up to date on the performance of this EA.

Forex party on dude

Rick

[ApacheDan]

Thanks for the info Rick...we shall continue next week

for brokers I start my search with 100forexbrokersdotcom ....hope I didn't break a policy here IamFX is a new US broker , but according to them, fastest growing broker now and allows hedging/scalping. Plenty of goodies, good spreads, free VPS, etc. Just looking so far...so good.

by the way, did you check funyoo's myfxbook? Amongst his top 18, he's go this one that caught my attention: Six MA Trader v1.05, I started running it 2 days with Alpari UK, I got 319 pips with only 0.08% drawdown . I'm thrilled!! It is also amongst Funyoo's top 3 performers since 12/09.

[rsmereka]

Originally Posted by ApacheDan

Thanks for the info Rick...we shall continue next week

for brokers I start my search with 100forexbrokersdotcom ....hope I didn't break a policy here IamFX is a new US broker , but according to them, fastest growing broker now and allows hedging/scalping. Plenty of goodies, good spreads, free VPS, etc. Just looking so far...so good.

by the way, did you check funyoo's myfxbook? Amongst his top 18, he's go this one that caught my attention: Six MA Trader v1.05, I started running it 2 days with Alpari UK, I got 319 pips with only 0.08% drawdown . I'm thrilled!! It is also amongst Funyoo's top 3 performers since 12/09.

Dan,

No policy broken. It's just that newbie's are not allowed to post URL's until a certain number of posts but I don't remember what that is.

I have not checked funyoo's myfxbook. According to the top free EA's list, Six MA Trader is way down the list. I am making my way down from the top. At the current rate , it will take years for me to go through the list

After learning the hard way, I usually focus my attention on EA's that are long-term performers. Short -term winning streaks usually indicate some type of curve-fitting in their logic.

Rick

[ApacheDan]

Hi Rick;

How's it going for you this week? I switched to v1.06, your set and only change I made was set to risk=1. So far no trades all week and I'm testing it with FXCM UK and IamFX.

I dropped Alpari, because as a US guy, they won't allow me to open an account. I will also drop FXCM because of their spreads. IamFX have comparable spreads to Alpari if not better. Still looking for a good broker with nice spreads & MT4 platform.

Anyways, did you changed anything else? trading time? Thanks for any info.
Dan