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Author Topic: Nightwalker EA and NY Close Scalper  (Read 2076 times)

Offline donnaforex

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Nightwalker EA and NY Close Scalper
« on: November 03, 2018, 08:45:33 PM »
The seller of Nightwalker EA & NY Close Scalper is available on the forum to answer questions and comments.

https://www.myfxbook.com/members/corni/nightwalker-ea-ny-close-scalper/2175846
https://www.myfxbook.com/members/corni
https://www.mql5.com/en/users/corni/seller#products

If you have traded with his products before, please share your experiences.
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If you need to contact me, email admin@donnaforex.com or Skype 'donnaforex' or PM via the forum.

Offline eusergio

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Re: Nightwalker EA and NY Close Scalper
« Reply #1 on: November 03, 2018, 09:08:47 PM »
Hi what is the similarity/differences between this scalper and the NightWalker available via autotrade on myfxbook?
thanks

Offline romleng

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Re: Nightwalker EA and NY Close Scalper
« Reply #2 on: November 05, 2018, 12:43:34 PM »
Hi,
yes NightWalker EA is the same as the myfxbook autotrade account. Sadly, they don't allow the combined account (NW+NYCS) as an autotrade account because the average pip number is too small. However, on the combined signal I also use a slightly different version with a breaking news filter, which I am currently testing. It is able to react to unexpected Brexit news within a few minutes.
Some of the latest losses occured after a small crash in stock market. Therefore, I also added a "stock market crash filter" in the current version. As far as I know, my systems are the only public night scalpers offering such filters. Especially the stock filter can help to reduce the drawdowns in stock market crash phases like 2007/2008 where many night scalpers have big drawdowns in backtests.

A question I get asked often is: If the EAs are so successful why I am selling the EAs instead of just trading them myself or offering a PAMM solution? This is a valid argument again any public EA system. In my case there are two reason. First, I don't have a large account myself, so I could not live only from trading my own money and selling the EAs helps to grow the account. Also, I will limit the total number of users to a certain number, maybe 100 or 200 to ensure that they will not suffer too much from slippage. I will do that by increasing the price and eventually hiding the products from the market.
The second reason is that especially for night scalpers my theory is that they will work less efficiently on very large accounts (for example a PAMM account with 1-2 million USD) because they are very senstive to brokerage conditions (spread around swap time, execution, slippage). Many brokers offer quite good execution for retail clients, but might put you on another more aggressive feed if you trade a large PAMM account. Therefore, I think it might be more profitable for everyone if users trade it separately on their account (distributed over different MT4 servers and brokers) rather than on a combined large PAMM account.


Offline compujock

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Re: Nightwalker EA and NY Close Scalper
« Reply #3 on: November 05, 2018, 04:07:03 PM »
The second reason is that especially for night scalpers my theory is that they will work less efficiently on very large accounts (for example a PAMM account with 1-2 million USD) because they are very senstive to brokerage conditions (spread around swap time, execution, slippage). Many brokers offer quite good execution for retail clients, but might put you on another more aggressive feed if you trade a large PAMM account. Therefore, I think it might be more profitable for everyone if users trade it separately on their account (distributed over different MT4 servers and brokers) rather than on a combined large PAMM account.
I agree 100% with these statements.  I have been in several different PAMM's.  One of them was a night scalper it was good at first until too much money came in, then it went down hill from there.  Another PAMM I was in wasn't even a night scalper.  It traded all times of the day, but ended up having the same problem.  Too much money came in and trade sizes were too large. Slippage became too high and caused the PAMM to go down hill from there.  Keep in mind this was traded on EURUSD pair at all times of the day and they even worked with the broker to get special feeds and better conditions and even multiple brokers.  Nothing helped.  This is why I will never join a PAMM again.  And I have more PAMM experiences as well.  None of them turned out well in the long run.  Zero.

Offline romleng

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Re: Nightwalker EA and NY Close Scalper
« Reply #4 on: November 06, 2018, 07:38:12 AM »
Quote
I agree 100% with these statements.  I have been in several different PAMM's.  One of them was a night scalper it was good at first until too much money came in, then it went down hill from there.  Another PAMM I was in wasn't even a night scalper.  It traded all times of the day, but ended up having the same problem.  Too much money came in and trade sizes were too large. Slippage became too high and caused the PAMM to go down hill from there.  Keep in mind this was traded on EURUSD pair at all times of the day and they even worked with the broker to get special feeds and better conditions and even multiple brokers.  Nothing helped.  This is why I will never join a PAMM again.  And I have more PAMM experiences as well.  None of them turned out well in the long run.  Zero.
Thanks for your opinion. It seems to confirms what I was thinking.

Another reason why many people distrust automatic strategies is that most educational forex sites basically call all EAs scam. But then you also have to keep in mind that those sites usually want to sell something too: the education to become a successful trader. But in most cases they just sell the dream and don't prove their profitability with a public account.
However, it is also true that there are many scams and even if a seller is honest and well-intentioned it does not mean that the EAs will be profitable.
« Last Edit: November 06, 2018, 07:39:51 AM by romleng »

Offline yshin

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Re: Nightwalker EA and NY Close Scalper
« Reply #5 on: November 06, 2018, 10:35:11 AM »
Hello,

What is the difference between Nightwalker and NY Close Scalper ?

Thanks.

Offline romleng

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Re: Nightwalker EA and NY Close Scalper
« Reply #6 on: November 06, 2018, 10:45:08 AM »
NightWalker is a more general mean reversion system. It works on more pairs (15 pairs right now) and it has a wider time window in the range of 3 to 6 hours depending on the pair. Also the average profit trade is a bit larger, around 8-10 pips.

NY Close Scalper is as the name suggests a scalper that only trades around the NY close time, so the time window to open trades is only two hours (one hour before NY close to one hour after NY close). The average profit trade is only about 3 pips, but also the stop loss is smaller. Therefore, I usually use it with twice the lot size compared to NW. This type of strategies does not work on all pairs, so it is currently limited to EURUSD, GBPUSD, EURCHF and USDCHF. I might add EURCAD and EURGBP in the future, but for now the current selection was very profitable. Sometimes it is better to focus on those pairs that work best.

Additionally, the complete trading logic, the entry condition as well as the conditions for closing positions is a bit different on both. NW also only checks for entries every minute, while NY Close Scalper works on every tick.
« Last Edit: November 06, 2018, 10:47:07 AM by romleng »

Offline yshin

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Re: Nightwalker EA and NY Close Scalper
« Reply #7 on: November 06, 2018, 12:51:36 PM »
NightWalker is a more general mean reversion system. It works on more pairs (15 pairs right now) and it has a wider time window in the range of 3 to 6 hours depending on the pair. Also the average profit trade is a bit larger, around 8-10 pips.

NY Close Scalper is as the name suggests a scalper that only trades around the NY close time, so the time window to open trades is only two hours (one hour before NY close to one hour after NY close). The average profit trade is only about 3 pips, but also the stop loss is smaller. Therefore, I usually use it with twice the lot size compared to NW. This type of strategies does not work on all pairs, so it is currently limited to EURUSD, GBPUSD, EURCHF and USDCHF. I might add EURCAD and EURGBP in the future, but for now the current selection was very profitable. Sometimes it is better to focus on those pairs that work best.

Additionally, the complete trading logic, the entry condition as well as the conditions for closing positions is a bit different on both. NW also only checks for entries every minute, while NY Close Scalper works on every tick.

Thanks a lot for the explanation.

Offline romleng

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Re: Nightwalker EA and NY Close Scalper
« Reply #8 on: November 07, 2018, 01:16:47 AM »
To clear a few point that came up with someone interested in the strategies:

- The EA do not use martingale. They always have one position per symbol at a time. Also, they use clearly defined SL and TP for each position. For symbols that are traded on both EAs there can be of course a total of two positions at a time.

- The minimum balance for the combination of both EAs is about $500 with medium risk or maybe $300 with high risk.

- The default settings are coded inside the EA file, so there is no need for set files. Just attach the EA and only change lot size.

 

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