Steinitz HAS MTF **Theory & EA**

[VSFX]

Originally Posted by bossxero

I think you should keep posting these trading results Steinitz. Will clear some minds here.

What is this? Blown account?


steinitz | Forex Signal Providers - Journal

Zero losses? Uhmm. I am confused.

[steinitz]

Originally Posted by VSFX

What is this? Blown account?


steinitz | Forex Signal Providers - Journal

Zero losses? Uhmm. I am confused.

There is two ways to trade method:

1. If you don't want any losses you do not use a stop loss. Without a stop loss there are no losses only wins. With this comes drawdown that can last for long periods. If you calculate the possibilities of how far down any pair can possibly go this analysis is available with the program due to its reporting features.

2. If you do use some type of stop loss method you will of course have losses. This method is based on trend trading. The markets consolidate like they are now all trend-based methods fail. However, with the EA you can set it to trade on smaller time frames which can trade in any markets you just need to be more nimble and take quicker profits.

Serious traders should have two types of methods available and be able to identify when markets are trending or ranging. In the case of my EA it's obvious that markets trend when the monthly, weekly and daily are in the same direction.

Don

[steinitz]

Originally Posted by sehs4u

Don,

What do you mean by "Stop loss =s upper time frame unclosed candle" i can not find this set in the EA.

Thanks

Please look at attached image that shows you're talking about.

Don

[Dave2]

Hi Don,

In simple terms what is the drawdown going to be like with your new version of the EA?

[VSFX]

Originally Posted by Dave2

Hi Don,

In simple terms what is the drawdown going to be like with your new version of the EA?

And in regards to this same question how much testing of the new version of your EA is required for us to know this, Don?

[steinitz]

Originally Posted by VSFX

And in regards to this same question how much testing of the new version of your EA is required for us to know this, Don?

This EA is simply all versions combined into one. Version 2.5 is the finished product. As said before this program does not do very well in ranging markets. I regard this as a tool for the markets when a trend.

Having said that there are ways to trade ranging markets which will have to be experimented with. Since the EA is extremely complex it allows multiple reports to be generated to show many aspects that can be used to fine-tune the settings.

One such report shows the best profits and the worst drawdown during the time the trade was open.

There is also an instruction manual on how to optimize the EA which can be very helpful to see what settings work best in the past. Some may say this is some type of curve fitting and to some degree it is. It's only option. I am seeing some pretty decent results with short-term trading from the one hour down. The key is to find out what stop loss is the best setting for each pair. I have 44 closed profitable trades in two days but I have some large floating losses. I will continue to watch these open trades.

Don

[bossxero]

Originally Posted by steinitz

Please look at attached image that shows you're talking about.

Don

Hint.... Compress your BMP graphic to JPG/GIF/PNG next time, this will reduce file size and save bandwidth

Hope that helps

[ashraf_65]

Dear Steinitz

I worked manually on this strategy(on demo) at 5 min.chart
It worked bretty good specially when 1H (the upper TF) is cosistent with the 5 min.chart

My problem is the false signals when the 5 min.,gives you an entry point but suddenly the price movement reverses and the loss occurs specially i dont use stoploss

Do you recommend any indicator or any idea to detect the false signals,could be the RSI with different parameters...Could be avoiding entry near to Resistance and Support points...Could be a new indicator to detect ranging market...Could be entry at certain times???....
What do you think ?
Thanks
__________________

Dr.Ashraf

[steinitz]

Originally Posted by ashraf_65

Dear Steinitz

I worked manually on this strategy(on demo) at 5 min.chart
It worked bretty good specially when 1H (the upper TF) is cosistent with the 5 min.chart

My problem is the false signals when the 5 min.,gives you an entry point but suddenly the price movement reverses and the loss occurs specially i dont use stoploss

Do you recommend any indicator or any idea to detect the false signals,could be the RSI with different parameters...Could be avoiding entry near to Resistance and Support points...Could be a new indicator to detect ranging market...Could be entry at certain times???....
What do you think ?
Thanks
__________________

Dr.Ashraf

Sir;

I know there is a big temptation to add other indicators but we have not found one that helps. It is common that the immediate entry will loose for awhile before it closes at profit.

This market is consolidating and will cause stops to be hit and lack of trend strengths. I am still using this in the current market with success just not as robust.

I truly feel that when the monthly, weekly and daily are in alignment this EA or manual method will do some serious damage and bring in the pips o plenty. It did before we had this market correction.

It just makes sense from a pure logical one.

Best of luck!

Don

[magicforextrader]

Hi all,

I've download the settings for manual system and tested it manualy on historical database (it tooks a lot of time ) but I've found something which can help with false signals and can predict when the trend is changing with a lot more than 50%.

I think the order in which bars changing color is very important.
I set charts at 5m TF then I look at bars color from the bottom to the top.
E.g. every bar is blue now, the correct order in which bars should change color is: the lower bar become red, then the higher bar become red, and when the lower one become again blue it's the moment to get long.
I'll draw it:
--------------------------------
--------------------------------
--------------------------------
---------------------------------
---------------------------------
So this is the correct order of bars color: after the lower red ends, and higher is still red we enter LONG or when the red bars ends at the same time.

NOW when the trend is changing the order is different:

--------------------------------
--------------------------------
--------------------------
-----------------------------
-------------------------------
of course this is an example, it could change in different ways, but this is like a divergency when something going "wrong". So when the order is another then that one at the begining the trend is possibly changing - it could change for a short time or for long time and it depends which bar change color first and how many lower bars have another color then the higher one.

Please check it yourself, I use it only on 4 pairs but I also use some technical analysis.

I hope you get what I mean and sorry for my english

I'll try in close future post some screens.