Steinitz HAS MTF **Theory & EA**

[mp6140]

while in no way connected with steinmetz, I have used Heiken-Ashi for many many years now, although WITH some provisos that MAY change some results !

Please understand that HA is a "trend following" system and it is wonderful for that purpose, but it is based on AVERAGING the preceeding candles with the newest one, and not simply working on high, low and close --- this averaging takes TIME, which is why HA "LAGS" the market and can easily MISS YOUR EXIT POINT ! (simply because, once HA shows a reversal in place, the reversal actually happened WAY BACK THERE A BIT !) Using the "line chart" option on prefs for MT4 charts does provide you with a signal line that is FASTER than the bar reversals, but it doesnt tell you at WHAT price to exit !

this appears to be a newer version of his indicator/EA than im used to and is SLOWER than the original which probably cuts down on "whippiness", but DOES create larger DRAWDOWNS because it also reverses slower !

THAT SAID, HA's biggest problem as a system is the drawdowns, as each candle (especially on something like GU) can represent a TREMENDOUS up and downside range, especially in the higher timeframes such as H1 and H4)

For HA to work as a standalone, two things must be added to the method that history has shown as needed --- first you must have a VERY accurate method of exiting (and catching reversals) that HA cannot show in its present state and if you use it, you MUST MAINTAIN EXCELLENT MONEY MANAGEMENT TECHNIQUES.

Now, this raises a difficult quandry and leads to many a blown account --- to make "real" money, you need a LARGER account, so that you can trade a decent lot size without endangering your margin. If youre trading a small account, the slowness of profit building leads you into doing some rash things with your account, namely trading too large !

IMO, the HA system works, but with the two provisos I put forth to protect your account.

finding tops and bottoms and exits and entrances is pretty easy in this day and age, but keeping down your greed and trading too large is something only you and your mind can control !

Oh, one last thing and I shall get much flack for this, but I would NEVER trade with a stop loss on this method due to drawdown dangers wiping you out, which im sure has happened to many people using the system and which is one, if not the main reason, for its disfavor !

Stop losses and the LRC are two of my main posting discussions concerning forex, while the LRC is of UTMOST importance to trend trading, and using stop losses MOST dangerous to your account !

One last "proviso" i edited in --- if youre looking for a currency to trade this way, use your H4 or daily chart and look for the SMOOTHEST AND SMALLEST CANDLES you can find --- this will quarantee you the smallest amount of drawdowns, and "could" allow you to raise your stake a small bit, as opposed to something that loves jumping around, like GU !

I imagine I will hear something on this subject, but also glad to explain fully !

your humble servant

mp

Originally Posted by zupcon

Look at any of the statements out in the public domain provided by people who actually spent time testing. There isn't a single independent test that is successful. There's a whole bunch of blown accounts, now why is that ?

[steinitz]

FORWARD TRADING
December 2007 Statement
(Total closed pips = +2562 / Total open pips = +28)
November 2007 Statement
(Total closed pips = +2417 / Total open pips = -4471)
October 2007 Statement
(Total closed pips = +1478 / Total open pips = +266
September 2007 Statement
(Total closed pips = +2948 pips / Total open pips = +55)

August 2007 Statement
(Total closed pips = +1874 / Total open pips = -391)

Please go to: www.ForexRobotTrader.com

If I was simply running multiple platforms are looking for the best result I certainly would not have posted November 2007 results. I got a lot of questions regarding this particular month why it was not as good as the rest.

I have no answers for this except the market wasn't favorable for trading my robot. What I'm more concerned about is the long run and are we making money.

December was excellent with 185 winning trades with no losses. Its obvious version 2.65 which is our newest version is working based on the logic that was used to code this newest version handling a sideways market.

To the gentleman that wrote about not using a stoploss I am thrilled that there are enlightened individuals out there and not just people looking the flame successful methods and traders.

On the topic of an investor password I have tried that in the past and because of the enormous amount of people logging in somehow I cause my platform to malfunction which I showed screenshots of the error messages on the Journal of Metatrader and posted it in public forums.

Don

[derrekmay]

How is your system doing on the first month of the year?
Besides that your system looks nice.

[steinitz]

Originally Posted by derrekmay

How is your system doing on the first month of the year?
Besides that your system looks nice.

It's been roughly two weeks in January 2008 and I have over 100 closed trades with no losses. My net profit including open trades in losses put me at roughly 8% return on investment so far.


We are going to be coming out with a new version that has a couple different hedge strategies that looking for two improving not only the drawdown but the return on investment substantially.

Don

[derrekmay]

Originally Posted by steinitz

It's been roughly two weeks in January 2008 and I have over 100 closed trades with no losses. My net profit including open trades in losses put me at roughly 8% return on investment so far.


We are going to be coming out with a new version that has a couple different hedge strategies that looking for two improving not only the drawdown but the return on investment substantially.

Don

Does this also mean the riskfactor is gettin bigger?

[steinitz]

FORWARD TRADING
TOTAL PIPS WON
+8603
+1439 average pips per month
January 2008 Statement
(Total closed pips = +2365 / Total open pips = -528)
December 2007 Statement
(Total closed pips = +2562 / Total open pips = +28)
November 2007 Statement
(Total closed pips = +2417 / Total open pips = -4471)
October 2007 Statement
(Total closed pips = +1478 / Total open pips = +266
September 2007 Statement
(Total closed pips = +2948 pips / Total open pips = +55)

August 2007 Statement
(Total closed pips = +1874 / Total open pips = -391)

-----------------------------------------------------------------------

Steinitz Heiken Ashi smoothed robot
version 2.65

Hello....


Please send your $99.00 by paypal to: https://www.paypal.com

My email address for payment is: steinitz@cox.net
----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


All types of credit cards are now welcome!

Visa, MasterCard, American Express and Diners Club

Please send me the following information:

1. Credit card number
2. Expiration date
3. Street number
4. Zip code
5. 3 digit code on reverese of card
-----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------


If can cannot send payment this way please consider:

Western Union at: www.westernunion.com or a money order to my physical address:

Don Steinitz
6420 W. Fisher Avenue
Las Vegas, Nevada 89130
USA


P.S. If you need to run this on more then one LIVE account you need additional licenses which are available for a 25% discount. No additional licenses are needed for multiple DEMO accounts.

Cheers!

Don

[oilfxpro]

Hi Steinitz

How are the results NOW ?

OILFXPRO

[steinitz]

FORWARD TRADING
TOTAL PIPS WON
+9666
+1380 average pips per month
February 2008 Statement
(Total closed pips = +1207 / Total open pips = -144)
January 2008 Statement
(Total closed pips = +2365 / Total open pips = -528)
December 2007 Statement
(Total closed pips = +2562 / Total open pips = +28)
November 2007 Statement
(Total closed pips = +2417 / Total open pips = -4471)
October 2007 Statement
(Total closed pips = +1478 / Total open pips = +266
September 2007 Statement
(Total closed pips = +2948 pips / Total open pips = +55)

August 2007 Statement
(Total closed pips = +1874 / Total open pips = -391)

[oilfxpro]

Steinitz

those results are awesome

OILFXPRO

[VSFX]

Hi steinitz. You sent me the new version right? Sorry I don't read all your emails because you send so many of them and I haven't got the time to read all of them so I file them away in a folder automatically. I have not tested the EA for ages now.

Do you still recommend we use no SL for profit?

And how long on average does each trade last for?

How often trades happen?

What is the DD for each pair?

Profit loss ratio?

Are these results from a specific version or all versions?

I hope you can answer my direct questions with open direct answers. Much appreciated.

I will restart testing the latest EA very soon. ASAP!

I guess most of the questions are answered but how many pairs tested on in total and what are best pairs for performance? You see I can produce any EA with 400 plus trades zero loss and then some day will come along and boom, account blows up in your face and you lose all profit if you left it in the account. Ideally 6000 plus trades per pair minimum to show some consistency IMO.