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Launching Bunjip EA - Wish me luck!

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the Bunjip seems to use an aggressive strategy, so it will be a roller coaster ride! When there was a massive change in EURUSD in a few minutes, did the Bunjip have a chance to close the position and make a smaller drawdown?
 
it doesnt really close positions. it looks at the signals at each fib retracement point and decides if a new position should be opened.

that's what gets it in trouble, but the testing showed it should get through it.

it about doubles its money each week, so the idea is to have more 'winning' weeks the 'losing' weeks, and therefore be up overall.

it has a stop trade coded into it @ $1000 loss. not that that means much when that's all that's in the account hehe.

and so the live test goes on!
 
yep I've found similar results in testing, where increasing the position on retracement is more important than closing the position. But I've only done that while the trade is in positive territory.
 
This is great to see though I`m surprised you`re exposing the EA.Could you reveal if the drawdowns happen in an up, down or sideways trend please?

Looks the goods so far and well done.
 
Wysiwyg said:
This is great to see though I`m surprised you`re exposing the EA.Could you reveal if the drawdowns happen in an up, down or sideways trend please?

Looks the goods so far and well done.
Click to expand...

not really giving away too much. if people can take something from my comments good on them i hope they can.

drawdowns happen during big falls in a quick amount of time, when there isnt a retracement. i need a 1 fibonacci progression retrace to get itself out of a hole. of course the further it falls the biggest the fib retracements need to be to escape the hole.

it love volatile sideways markets the best.
 
pilbara said:
yep I've found similar results in testing, where increasing the position on retracement is more important than closing the position. But I've only done that while the trade is in positive territory.
Click to expand...

Works extremelly well if you have conviction of the trend.

If not, no point. Choppy markets need quick take profits IMO, no time for pyramiding, unless you average down an extended run that doesn't look to have legs.
 
MrC in this thread I guess we are discussing what we can teach our robots to do.

When a robot uses pyramiding it is using mathematical rules and kinda becomes like a Terminator or a heat seeking missile, it really gets conviction of the trend!!

Usually forex has strong long term trends overlaid with strong choppy conditions, but occasionally there are strong trends without much of a chop, and this is where pyramiding comes into its own.
 
Stormin_Norman said:
it doesnt really close positions. it looks at the signals at each fib retracement point and decides if a new position should be opened.
Click to expand...

Sorry Storm I don`t fully understand.So you don`t have a stop loss, you add to losing positions as per a Martingale system and you are trading micro lots.I.e. one pip = 10 cents.
 
While I have never traded FX, and wish the best of luck, I probably spend $1000 in groceries a month, so I hope you get similar or better returns
 
thought id give an update:



as u can see a couple of draw-downs, but theyre expected in its operation.
 

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Looks good Stormin! Not a bad effort for only a couple of weeks. Any other trade stats for us?

Cheers,


CanOz
 
Short Positions (won %): 708 (67.51%)
Long Positions (won %): 714 (73.39%)

max floating drawdown $430 (43% on a $1000 balance)
***this really should be around 10% - $4,000 rather then $1,000 should be the starting balance for the EA i think (or $400 on a nano account).

Profit Trades (% of total): 1002 (70.46%)
Loss trades (% of total): 420 (29.54%)
 
Awesome win rate Norm.

CanOz
 
i believe so.

i made a few changes to the colours. other then that its as the original was made.

here's the mt4 file.
 

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Stormin_Norman said:
max floating drawdown $430 (43% on a $1000 balance)
***this really should be around 10% - $4,000 rather then $1,000 should be the starting balance for the EA i think
Click to expand...
I think this is a good idea for a EA, to give it less capital, just in case it breaks down in some way and you'll get margin called instead of losing serious capital. Do you plan to make regular withdrawals, or let it keep the money it makes and use compounding to really extend the gains?
 
as part of my transition from IBFX to GoMarkets i opened a AUD$5k account with GoMarkets for the Bunjip.

the IBFX account i shut on thursday when it hit USD$3000 and recovered its drawdown. this is just short of the $5k i opened the GoMarkets account with.

here is the week's review on the GoMarkets account starting with $5k. quite happy when it ends the week with minimal drawdown. always a good thing.

equity + balance just short of $7k. very delighted with its first week live on gomarkets (ran it for a month testing to make sure it would operate correctly on a new broker).

 
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