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Automated Trading Championship 2008
- Thread starter Fat
- Start date
sorry, thats a correct link:
http://championship.mql4.com/2008/news/397
http://championship.mql4.com/2008/news/397
On the website of the Automated Trading Championship 2008, an Interview with Tony Manso (amelabs) has been published. It is not the first time Tony Manso participates in the Championship. Last year his Expert Advisor was not very successful. This year his program staying on leading positions and shows very good results. In his EA Tony uses Trailing Stop instead of a fixed Stop Loss level.
In my experience, setting a fixed stop-loss is a recipe for disaster. Instead, what I do is set an initial stop-loss so far out that it's not likely to ever be reached. Then I can withstand some very large drawdowns immediately after the trade is placed. Once the trade goes in my favor and I realize a specific candlestick pattern, I know it's time to start a trailing stop. As far as take-profit goes, I generally set that before stop-loss. The procession is this:
1. I place the trade at open of a new bar.
2. At the next open bar I set take-profit if I recognize a certain candlestick pattern.
3. If my trade is in profit at the 3rd bar but my take-profit isn't hit yet, then I start looking for opportunity to start a trailing stop. Again, this only happens if a specific candlestick pattern is recognized.
The interview was published on the website of Automated Trading Championship 2008 in the News section.
Sponsors of the Automated Trading Championship 2008 are FXCM (Forex Capital Markets LLC), Interbank FX LLC (IBFX), FXDD and the TRADERSâ magazine. The organizer of the Championship is MetaQuotes Software Corp.
In my experience, setting a fixed stop-loss is a recipe for disaster. Instead, what I do is set an initial stop-loss so far out that it's not likely to ever be reached. Then I can withstand some very large drawdowns immediately after the trade is placed. Once the trade goes in my favor and I realize a specific candlestick pattern, I know it's time to start a trailing stop. As far as take-profit goes, I generally set that before stop-loss. The procession is this:
1. I place the trade at open of a new bar.
2. At the next open bar I set take-profit if I recognize a certain candlestick pattern.
3. If my trade is in profit at the 3rd bar but my take-profit isn't hit yet, then I start looking for opportunity to start a trailing stop. Again, this only happens if a specific candlestick pattern is recognized.
The interview was published on the website of Automated Trading Championship 2008 in the News section.
Sponsors of the Automated Trading Championship 2008 are FXCM (Forex Capital Markets LLC), Interbank FX LLC (IBFX), FXDD and the TRADERSâ magazine. The organizer of the Championship is MetaQuotes Software Corp.
This is garbage. Huge stop-losses (even if temporary) produce a slow growth of your account until one day the price tanks and doesn't come back up, you're forced to exit at your crazy low limit (margin call if nothing else) and you lose everything in one shot. It could take a week, a month, a year or more to happen, but it always does. Eseentially it's a Martingale strategy in slightly different clothing.Quote from Fat:
In my experience, setting a fixed stop-loss is a recipe for disaster. Instead, what I do is set an initial stop-loss so far out that it's not likely to ever be reached.
The only way to be consistent and not lose everything someday is to have reasonably small stop-losses (that are hit frequently). Doesn't matter if they're fixed or variable, but they can never be huge. Otherwise eventual ruin is guaranteed.
Of course, you also need an edge to make money, but that's another issue.
On the website of the Automated Trading Championship 2008, an article Reporting the Third Week (13-19 October) has been published. The previous week was relatively calm in the Forex market as compared to the two previous ones. But the previous two weeks had a strong trend that was very favorable to many Participants, while the third one had a negative impact and many EAs met losses. This influenced the equity of the top Participants. The total equity of the Championship Participants is now $389 thousand US dollars, which is by 15% less than the previous week value (more than $460 thousands).
The article was published on the website of Automated Trading Championship 2008 in the News section.
Sponsors of the Automated Trading Championship 2008 are FXCM (Forex Capital Markets LLC), Interbank FX LLC (IBFX), FXDD and the TRADERSâ magazine. The organizer of the Championship is MetaQuotes Software Corp.
The article was published on the website of Automated Trading Championship 2008 in the News section.
Sponsors of the Automated Trading Championship 2008 are FXCM (Forex Capital Markets LLC), Interbank FX LLC (IBFX), FXDD and the TRADERSâ magazine. The organizer of the Championship is MetaQuotes Software Corp.
Quote from Fat:
In my experience, setting a fixed stop-loss is a recipe for disaster.
Maybe this guy has a dynamite system, but it would have to be right 80% of the time to ride out the hideous drawdowns and stop losses from today's volatility. Remember last week, 500 dow points in a few minutes? He must have some seriously high profit targets, and a longer-term outlook, to weather those storms. I would never consider riding out a 500-pt dow down while waiting and hoping for a rally.
Then again, hope and wait are not in my systems. Glad to be a short-term trader who does well and sleeps in cash.
On the website of the Automated Trading Championship 2008, an Interview with Maxim Minenko (maximich) has been published. Maxim Minenko, known as maximich, is not so long in trading. However, he has got his own idea that the simpler a system is, the better. Maxim participates in the Championship with the Expert Advisor Soviet Habor named after his native town Sovetskaya Gavan (Soviet Harbor). The main purpose of his EA's work is staying in the Championship possibly long and not getting the maximal profit.
...my EA is governed by an absolutely different system. It fixes a preset profit and thus increases its next lot. This gives my EA an additional chance to stay long in the Championship and have all chances to win!
For the present he succeeds in it - he rarely leaves the top-ten list.
The interview was published on the website of Automated Trading Championship 2008 in the News section.
Sponsors of the Automated Trading Championship 2008 are FXCM (Forex Capital Markets LLC), Interbank FX LLC (IBFX), FXDD and the TRADERSâ magazine. The organizer of the Championship is MetaQuotes Software Corp.
...my EA is governed by an absolutely different system. It fixes a preset profit and thus increases its next lot. This gives my EA an additional chance to stay long in the Championship and have all chances to win!
For the present he succeeds in it - he rarely leaves the top-ten list.
The interview was published on the website of Automated Trading Championship 2008 in the News section.
Sponsors of the Automated Trading Championship 2008 are FXCM (Forex Capital Markets LLC), Interbank FX LLC (IBFX), FXDD and the TRADERSâ magazine. The organizer of the Championship is MetaQuotes Software Corp.
On the website of the Automated Trading Championship 2008, an article Reporting the Fourth Week (20-26 October) has been published. The fourth week of the ATC 2008 is over. This week in the forex market was rich in events for almost all currency pairs. Of course, this had its impact on competing Expert Advisors. The top ten has changed greatly, as well as the balance and Equity of the most Participants. And the Equity of this week's leader Gorez sometimes exceeded 140,000 US dollars! This is due to three open positions. These positions are still open. So we are looking forward for this Participant's results.
The total Equity of the top ten equal to $697,157 which is almost twice larger than the previous week value of $318,715.
The article was published on the website of Automated Trading Championship 2008 in the News section.
Sponsors of the Automated Trading Championship 2008 are FXCM (Forex Capital Markets LLC), Interbank FX LLC (IBFX), FXDD and the TRADERSâ magazine. The organizer of the Championship is MetaQuotes Software Corp.
The total Equity of the top ten equal to $697,157 which is almost twice larger than the previous week value of $318,715.
The article was published on the website of Automated Trading Championship 2008 in the News section.
Sponsors of the Automated Trading Championship 2008 are FXCM (Forex Capital Markets LLC), Interbank FX LLC (IBFX), FXDD and the TRADERSâ magazine. The organizer of the Championship is MetaQuotes Software Corp.