Williama's Trading System

[Naufrage]

Nuafrage,

Would you be so kind as to add a start time variable to your EA?

Sure, here you go: View attachment Williama_EA.mq4

It's an entry hour. To use it set "UseEntryTime=true" and EntryTime= the hour (from 0 to 24) you want the EA to begin a session at.

If you want a more precise entry time feature, let me know

bye

 

[Aliassmith]

Thanks for your update, I will give it a test run

 

[Aliassmith]

The Ea doesn't seem to start regardless if the time option is true or false?

Well it did start when I opened it later, but the time part was not on this time.

 

[Onyebuchim C. Obike]

Hi Naufrage.

Nice EA. I have been testing it and its ok just that EA's can never be perfect. But i think an EA like this is good for all kinds of trading conditions that defers technical and fundamental factors. But the issue is taming it to fit in

MY SUGGESTIONS
1. Placing TP MUCH closer to Orders (SELL OR BUY) would be the best way to maximize profits in case of retracements by brokers or market factors. This would lower losses that can be caused from orders that are triggered on opposite sides or level and delays to TP due to the gap between TP and orders.

2. In other words TP could be place just above or below each immediate order (SELL or BUY) and not above or below ALL the orders (SELL or BUY) bcos price might not get to the TP after trigerring lots of orders and might retrace back and forth.

3. A possible Trend Monitoring scheme that would place orders preferably according to the trend.

I'm not so technical in programming EA's and i dont know how possible this could be programmed. But if it can be programmed in the EA then i'm sure we can maximize and tame the market from TECHNICAL & FUNDMENTAL powers.

Thanks and good luck

 

[Naufrage]

The Ea doesn't seem to start regardless if the time option is true or false?

Well it did start when I opened it later, but the time part was not on this time.

That's strange it works fine for me. I forgot to say that the hour is from the server time (like displayed in the "market watch" of metatrader), and not your computer time. Maybe it is the problem you had?

Hi Naufrage.

Nice EA. I have been testing it and its ok just that EA's can never be perfect. But i think an EA like this is good for all kinds of trading conditions that defers technical and fundamental factors. But the issue is taming it to fit in

MY SUGGESTIONS
1. Placing TP MUCH closer to Orders (SELL OR BUY) would be the best way to maximize profits in case of retracements by brokers or market factors. This would lower losses that can be caused from orders that are triggered on opposite sides or level and delays to TP due to the gap between TP and orders.

2. In other words TP could be place just above or below each immediate order (SELL or BUY) and not above or below ALL the orders (SELL or BUY) bcos price might not get to the TP after trigerring lots of orders and might retrace back and forth.

There is a problem with that: since the take profit will be closer, the size of the new pending orders to add will have to be bigger.

3. A possible Trend Monitoring scheme that would place orders preferably according to the trend.

yes, detect when the market is and will keep on trending would be a good way to avoid bad situations. But first we have to find the good indicators for that. I don't know if a simple moving average would do the trick.

I'm not so technical in programming EA's and i dont know how possible this could be programmed. But if it can be programmed in the EA then i'm sure we can maximize and tame the market from TECHNICAL & FUNDMENTAL powers.

Thanks and good luck

Like I (and others) said, I think the system is flawed from the start, that it is a dead end and that's why I won't put lot of work in it anymore. But I'll give it a try tomorrow to see what I can do. And if others can help, they're welcomed.

 

[Onyebuchim C. Obike]

Taming the Williama's Strategy

Hi Naufrage,

You're damn right about the system being flawed from the start. But i see something great about its initial plan: . . . . DEFER ALL LAWS/FACTORS THAT HINDERS PROFIT. lol. anyway i know its not that realistic.
Quite funny right!

I just finished testing the EA. It runs well in a backtested scene, but on a live situation on my demo account. . . . hmmmmm!! it can fry out an account if market retraces and fluctuate vehemently without hitting TP. Thats why i support your claim that the system is or might be flawed or probably there's something we're yet to discover to tame it.

from my test, i would want to suggest that:

1. very few pending orders be programmed in the EA. probably 2 buys and 2 sell and until TP is reached or if its neccessary to delete orders then another can be placed but not until an order or orders has achieved TP.

2. When TP has been triggered on either side, it is assumed that there's a big gap between the BUY or SELL and where price would be going next is not known. I would suggest that if a BUY or SELL order reaches TP, the pending orders above or below be reset back to its normal position to maintain a channel that would trap price movement.

3. an automatic profit scalping even if price has not reached TP be included in the EA. I have an EA that Manages Take Profits and closes fractional lots as it takes the profit according to the trader's choice. I tried to combine it with your EA but there was a conflict and it wouldn't work. I suggest the algorithm could be ported into your EA. I'll send the EA to you for review.

Lastly i think the main aim of an EA for this strategy would be an EA that would trap price movement in a very narrow channel with less pending orders and would be able to reset back to that same channel when any of the TP is reached, with close TP at each pending order or a scalping TP that would take fractional profit.

Hmmm quite a lot.:err: I wish i knew much about programming Mq4 cos this would be too much for a single person to do. I'm very good in VB programming.

Thanks Naufrage for really giving your best. I attached the EA that Manages TP to try and see if you can extracct the logic and algorithm.

 

[Naufrage]

Hello Onyebuchim,

Hi Naufrage,

You're damn right about the system being flawed from the start. But i see something great about its initial plan: . . . . DEFER ALL LAWS/FACTORS THAT HINDERS PROFIT. lol. anyway i know its not that realistic.
Quite funny right!

I just finished testing the EA. It runs well in a backtested scene, but on a live situation on my demo account. . . . hmmmmm!! it can fry out an account if market retraces and fluctuate vehemently without hitting TP. Thats why i support your claim that the system is or might be flawed or probably there's something we're yet to discover to tame it.

from my test, i would want to suggest that:

1. very few pending orders be programmed in the EA. probably 2 buys and 2 sell and until TP is reached or if its neccessary to delete orders then another can be placed but not until an order or orders has achieved TP.

Where would you place the TP for each level?
Tell me if I get this right. you suggest that we use this kind of setup:

take profit 2
buy level 2
take profit 1
buy level 1
(middle level?)
sell level 1
take profit 1
sell level 2
take profit 2

and where would you place the stop loss? Like before?

2. When TP has been triggered on either side, it is assumed that there's a big gap between the BUY or SELL and where price would be going next is not known. I would suggest that if a BUY or SELL order reaches TP, the pending orders above or below be reset back to its normal position to maintain a channel that would trap price movement.

What do you mean by back to its normal position?

3. an automatic profit scalping even if price has not reached TP be included in the EA. I have an EA that Manages Take Profits and closes fractional lots as it takes the profit according to the trader's choice. I tried to combine it with your EA but there was a conflict and it wouldn't work. I suggest the algorithm could be ported into your EA. I'll send the EA to you for review.

That could be useful. Do you mean to use the fractionnal take profit for all the orders, or for each orders? I think I see how it could be implemented for each order.

Lastly i think the main aim of an EA for this strategy would be an EA that would trap price movement in a very narrow channel with less pending orders and would be able to reset back to that same channel when any of the TP is reached, with close TP at each pending order or a scalping TP that would take fractional profit.

Hmmm quite a lot.:err: I wish i knew much about programming Mq4 cos this would be too much for a single person to do. I'm very good in VB programming.

Thanks Naufrage for really giving your best. I attached the EA that Manages TP to try and see if you can extracct the logic and algorithm.

I tried to implement just the take partial profit feature for each open order. It seems to work, and can be used with the global take profit feature. The way it works for the moment is that the partial profit are "bonus", they're not taken into account when calculating the global profit/loss. View attachment Williama_improved.mq4
Does it work like it should?

Thanks for your ideas anyway, I still need you to explain the "reset back to the same channel" thing
Have a nice day,
Naufrage

 

[ham bone]

Hi Naufrage,

You're damn right about the system being flawed from the start. But i see something great about its initial plan: . . . .




I don't think the system is flawed... but there is a lot of trader's discretion to use it as Williama laid out in his posts. At least the way I traded it this week.

Williama uses a lot of discretion. It's unfortunate that account blew up but hey, how many accounts have we all blown up testing EAs? I think he was trying to knock our socks off and things got out of hand. Those 35 lot orders were 70 times bigger than the initial lot size. I wouldn't have the nerve to do that with real money. I wonder if he trades real money that aggressively. I'm guessing no.

I made more than 1800 pips in the last week and a half (demo). Not bragging but just pointing out the potential. Btw, I'm not a good trader yet - have not made consistent money using technical analysis.

By discretion I mean "Do I place pending orders at this level or not? How many lots? Do I have a short term bias long or short? Am I biased enough to buy when price has fallen (average down)? Do I place orders at Level 0? Do I scalp some pips? Do I close any orders before TP is reached? How much margin have I used? How much margin will I use if all the pending orders in long or short are triggered? How many pips will I make if price moves to either TP?"

I used a spreadsheet to decide how many pending orders long and short were needed so that profit was ensured if price reached TP up or down. My most common decision was "Do I place the pending order at this level or not?" I often decided no, to give the pair more room to fluctuate, but then I needed more lots pending at he next level.

... did great on Friday. ...was in a grid since Wednesday, but my "traders discretion" was hurting me (ha ha) - had a bullish bias with 6 longs and 1 short and drawdown reached 500 pips...which is $50 with .01 lots. But there were enough pending shorts that when GBPJPY tanked on Friday morning, all the shorts triggered and reached TP for a basket profit more than 500 pips. Using the spreadsheet was the key. After it looked like the steep drop was finished, another progression was started which later closed at the long TP for more than 300 pips. The system is good. That one progression...my bias was bullish, but the system reached TP to the downside...

So far 5 progressions all reached TP of 300 to 500 pips.



I hope you guys can develop a good EA. Maybe you can find some rules that don't require trader's discretion.


This system might be really good for manual trading.

Jack

 

[cawat]

Hi, i'm new here..pardon my english..

Is that really true about Broker manipulating price and we're not realy trading with the exchange market ? Aww, this makes me think twice before going live with forex.

 

[williama]

Hi everyone,

I hope everyone learned a lot on this journey. I want to say again that the purpose of this account was for educational purposes and that the margin call was intentional as to show how difficult is to get a margin call using my system if you learn how to use it properly. If you watched the development of the account in the last week and especially last couple of days you could perfectly see that there were plenty of opportunities to open buy orders and close sell orders but I intentionally left the sell orders opened.

The reason was primarily to show that the down trend last Friday was expected and how you can control the account as it develops. Then when the account reached the 210.80 area you could perfectly open buy orders and continue the process as shown during the week. I intentionally did not open buy orders to show how much room and time you have to implement my system and how each person can develop his own trading style using my system. This would also make people think how he would do according to his/her own style. Notice how the price reached the price exact to close all the negative prices and then it will go down. This is a common mechanism brokers use as they move towards stops or margin calls, they go and capture and then reverse.

I hope you took the opportunity to live first hand real situations with my system, help you understand the process and the mechanics of it. I feel a bit sad I had to give up the account in order to show and clarify some concepts and some comments people made about the system being very easy to wipe out accounts and had to push the account to extremes. At the same time, I want to inform that I made between 50% and 75% profit during these two weeks with my real accounts and of course that is more important to me than having to give up the demo account.

I want to thank all the members that have actually implemented the system in demo accounts and how they report they have made demo money and how there are variants and discretion to trade my system. That is what is important and as I said before you apply the system according to your own style, skills and trading knowledge.

Good luck in your training and adjustments and hope my system helps your trading and be able to make money with it. Remember to become a master of the system first before you use real money. This takes time and you need not to rush. It took me a long time before I could trade the way I do with my real accounts now to be able to make the profits I am making.