Hi Guys,
I modified MetaCoder's Phantom 6 EA and played with it the way I feel would be more profitable long term.
How is mine different you ask?
-Made it a bit more dynamic... I didn't like some of the code it was inefficient using global vars.. I used arrays and did a bit of housecleaning.
-Logically it is pretty different. I trade 2 baskets 1 Asian and 1 London. I clear the phantom trades at the start and end of each session instead of every 8 hours.
-If trades span across multiple sessions I just try to break even instead of a % profit. The idea is to try to escape the potential and ever lingering death basket.
If you don't know what the Phantom 6 EA is about please read:
http://www.forexfactory.com/showthread.php?t=262936
For background info on the theory read the Basket 14 EA:
http://www.forexfactory.com/showthread.php?t=252521
Have a look at the code its pretty self explanatory. I tried to comment how it works aswell as variables.
It was pretty easy to modify because the code was already pretty clean thanks to MetaCoder!
Attach to a JPY pair which updates frequently I did Geppy @ 30 mins. No indicators needed!
I know MC uses 1 hour timeframe( regardless of TF you attach to it trades every hour) but I made it dynamic (you can trade every minute if you want). I'm playing with M30...you get trades every 30 mins...it is to be determined if this is a good idea or not.
This is a non losing strategy that with unlimited margin will keep bringing in the cash... couldn't we all work for the fed?
Don't use it LIVE until we test that the EA is sound and profitable long term!!!
To trade the EA with both baskets your broker must offer the following pairs(top 5 buy and bottom 5 sells):
LONDON
1. GBPUSD Real
2. EURGBP
3. GBPJPY
4. USDCHF Real
5. EURJPY Real
6. EURUSD Real
7. USDJPY Real
8. GBPCHF Real
9. CHFJPY
10. EURCHF
ASIAN
1. GBPAUD Real
2. EURGBP
3. EURJPY Real
4. AUDJPY Real
5. GBPNZD
6. EURNZD Real
7. EURAUD
8. AUDNZD
9. NZDJPY Real
10. GBPJPY Real
But of course you can come up with your own baskets that work for your broker and that follow the criteria that they must cancel each other out (buys and sells should be hedged)
VERSIONS:
V1x - Added filter to trade (only if all current trades of same pair are already in profit).
This will stop it from trading on a retrace/trend change on your phantom runner...
PRO: Less trades, only add to winning winner
CON: The pair has to move further for you to reach your profit goal. If it was only a retrace then you should have traded. If it was a change of trend then you saved yourself drawdown.
V2 - Adds upon V1x plus changed time (not modifiable)
Changing time will help us properly detect strong vs weak phantoms. You cannot pick an arbitrary time and then say lets trade the strongest phantom.. unless you want drawdown first and then go into profit later. This tries to optimize and skip the drawdown phase and go directly into profit (highest chance to go into profit right away.. not guaranteed obviously).
It will open new baskets in the first 2 hours of each session. After that it will try to reach the profit goal or BE if session ends.
London Open Prep: 8 GMT
London Trading: 10:30 GMT
London Close: 14 GMT
Asian Open Prep: 20 GMT
Asian Trading: 0 GMT
Asian Close: 6 GMT
(No trading for Asian session on Monday)
I also added a fundamental principle of "Don't let winners turn into losers". So I added a BE to trades that go more than 200 ATR (Hourly) in profit. This will help the case where you added a bunch of trades that almost gets to your goal but then reverses suddenly... atleast you don't lose much you will have minimal lurking trades in DD (only ones that didn't reach more than 200 ATR pips in profit). Since we only add to winners... this will cut down amount of bad trades significantly.
CONS: It will take a longer time to reach your profit goal.. you will have BE's and more lurking trades possibly across multiple sessions. You have to hope that market picks a direction and goes with it.
V2a - Placed on M15 chart only!
----
This version uses some suggestions given to me by Timmy.
-Trade on the M15 chart using the bar at 15 minutes and 45 minutes only.
-Volatility filter (SMA of ATR with the indicator provided - MA-ATR). This is modifiable through the EA settings.
-Changed time to trade...
- New baskets will be opened at the start of session (11:15GMT) now... and will reset the phantoms at 11 GMT... This usually is the trend for London/NY overlap
- We can open new baskets for the first 2 hours.. ie: London (11:15 GMT until 13:45 GMT) thats 6 bars to find a potential entry.
- If basket is open you can trade until 17 GMT... at which point you will look for an exit (atleast BE)
- If symbol already has trade open... add another only if minProfitBetweenTrades is met (ie: $10 dollars set it to 10)
- Use the real pairs as anchors to start a trade.. and thereafter the EA may open trades on any phantom pairs. Idea is that anchor pairs (real pairs in the EA settings) dictate the direction of the basket... so use them for optimal entry of baskets. Versions prior to this only traded the anchor pairs (real pairs) and not the phantoms.
-There was also a bug in the code that allowed it to trade on Monday Asian session.
Thanks,
Jag
I modified MetaCoder's Phantom 6 EA and played with it the way I feel would be more profitable long term.
How is mine different you ask?
-Made it a bit more dynamic... I didn't like some of the code it was inefficient using global vars.. I used arrays and did a bit of housecleaning.
-Logically it is pretty different. I trade 2 baskets 1 Asian and 1 London. I clear the phantom trades at the start and end of each session instead of every 8 hours.
-If trades span across multiple sessions I just try to break even instead of a % profit. The idea is to try to escape the potential and ever lingering death basket.
If you don't know what the Phantom 6 EA is about please read:
http://www.forexfactory.com/showthread.php?t=262936
For background info on the theory read the Basket 14 EA:
http://www.forexfactory.com/showthread.php?t=252521
Have a look at the code its pretty self explanatory. I tried to comment how it works aswell as variables.
It was pretty easy to modify because the code was already pretty clean thanks to MetaCoder!
Attach to a JPY pair which updates frequently I did Geppy @ 30 mins. No indicators needed!
I know MC uses 1 hour timeframe( regardless of TF you attach to it trades every hour) but I made it dynamic (you can trade every minute if you want). I'm playing with M30...you get trades every 30 mins...it is to be determined if this is a good idea or not.
This is a non losing strategy that with unlimited margin will keep bringing in the cash... couldn't we all work for the fed?
Don't use it LIVE until we test that the EA is sound and profitable long term!!!
To trade the EA with both baskets your broker must offer the following pairs(top 5 buy and bottom 5 sells):
LONDON
1. GBPUSD Real
2. EURGBP
3. GBPJPY
4. USDCHF Real
5. EURJPY Real
6. EURUSD Real
7. USDJPY Real
8. GBPCHF Real
9. CHFJPY
10. EURCHF
ASIAN
1. GBPAUD Real
2. EURGBP
3. EURJPY Real
4. AUDJPY Real
5. GBPNZD
6. EURNZD Real
7. EURAUD
8. AUDNZD
9. NZDJPY Real
10. GBPJPY Real
But of course you can come up with your own baskets that work for your broker and that follow the criteria that they must cancel each other out (buys and sells should be hedged)
VERSIONS:
V1x - Added filter to trade (only if all current trades of same pair are already in profit).
This will stop it from trading on a retrace/trend change on your phantom runner...
PRO: Less trades, only add to winning winner
CON: The pair has to move further for you to reach your profit goal. If it was only a retrace then you should have traded. If it was a change of trend then you saved yourself drawdown.
V2 - Adds upon V1x plus changed time (not modifiable)
Changing time will help us properly detect strong vs weak phantoms. You cannot pick an arbitrary time and then say lets trade the strongest phantom.. unless you want drawdown first and then go into profit later. This tries to optimize and skip the drawdown phase and go directly into profit (highest chance to go into profit right away.. not guaranteed obviously).
It will open new baskets in the first 2 hours of each session. After that it will try to reach the profit goal or BE if session ends.
London Open Prep: 8 GMT
London Trading: 10:30 GMT
London Close: 14 GMT
Asian Open Prep: 20 GMT
Asian Trading: 0 GMT
Asian Close: 6 GMT
(No trading for Asian session on Monday)
I also added a fundamental principle of "Don't let winners turn into losers". So I added a BE to trades that go more than 200 ATR (Hourly) in profit. This will help the case where you added a bunch of trades that almost gets to your goal but then reverses suddenly... atleast you don't lose much you will have minimal lurking trades in DD (only ones that didn't reach more than 200 ATR pips in profit). Since we only add to winners... this will cut down amount of bad trades significantly.
CONS: It will take a longer time to reach your profit goal.. you will have BE's and more lurking trades possibly across multiple sessions. You have to hope that market picks a direction and goes with it.
V2a - Placed on M15 chart only!
----
This version uses some suggestions given to me by Timmy.
-Trade on the M15 chart using the bar at 15 minutes and 45 minutes only.
-Volatility filter (SMA of ATR with the indicator provided - MA-ATR). This is modifiable through the EA settings.
-Changed time to trade...
- New baskets will be opened at the start of session (11:15GMT) now... and will reset the phantoms at 11 GMT... This usually is the trend for London/NY overlap
- We can open new baskets for the first 2 hours.. ie: London (11:15 GMT until 13:45 GMT) thats 6 bars to find a potential entry.
- If basket is open you can trade until 17 GMT... at which point you will look for an exit (atleast BE)
- If symbol already has trade open... add another only if minProfitBetweenTrades is met (ie: $10 dollars set it to 10)
- Use the real pairs as anchors to start a trade.. and thereafter the EA may open trades on any phantom pairs. Idea is that anchor pairs (real pairs in the EA settings) dictate the direction of the basket... so use them for optimal entry of baskets. Versions prior to this only traded the anchor pairs (real pairs) and not the phantoms.
-There was also a bug in the code that allowed it to trade on Monday Asian session.
Thanks,
Jag
Attached File(s)
Phantom_Jag_V1_.mq4
37 KB
|
887 downloads
Phantom_Jag_V1x.mq4
38 KB
|
746 downloads
|
Uploaded Nov 14, 2010 2:47am
Phantom_Jag_V2.mq4
37 KB
|
735 downloads
|
Uploaded Nov 23, 2010 10:48pm
MA-ATR.mq4
1 KB
|
742 downloads
|
Uploaded Nov 26, 2010 7:19pm
Phantom_Jag_V2a.mq4
38 KB
|
846 downloads
|
Uploaded Nov 30, 2010 7:38pm