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Author Topic: LEGEND  (Read 33015 times)

Offline Cutting_Edge_Forex

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Re: LEGEND
« Reply #255 on: April 17, 2019, 10:26:58 PM »
Atomico thank you for the kind words. We can start over fresh.

Humble here are the answers to your questions. Let me know if anything needs more explaination.

1) Good idea I will include them in the zip/installer for future updates and you will be happy to hear there already is such a folder in the member's area with settings and strategy tester reports for the settings. I will attach a pdf that shows the highlights of the 2.0 release and also images of the links for current settings in our members area and at the MQL5 market. In the future I will post the settings here as well or at least links to the settings.

2) The hard stop function simply uses a hard stop (at the broker) for the trailing exit and break-even functions. Honestly I do not recommend it. I added it after numerous request from a few clients with huge trading accounts. I think it is more of a security blanket. The reason I will not be using it is we already have safety measures in place including an orphaned trade check after re-initialization and a hard stop (initial broker stop loss placement) for the event of internet interruption, platform freeze, power outage, etc.. The hard stop for trailing will keep the stop closer yes, but it will be hit more often than the "virtual stop" we use by default. The reason for that is Legend trades only on "bar close" and many times the price will dip below the trailing stop but never CLOSE below the trailing stop, thus keeping the trade alive and in the long term much greater profit accumulation. So it's up to you the individual trader what you prefer to live with on a daily basis.
3) For controlling losses we use break-even, trailing stop, and partial closings. I think you'll find v2.0 does a better job taking more off the table on a daily basis and as the strategy tester shows still hangs on during strong movements. It's a balancing act. I agree that it needed some work. Perhaps we can improve upon it further, In v2.0 we are now taking profits sooner, with less spacing required between closings. Of course the percentage that is closed can be adjusted to anything we want. I will post some settings using a higher closing percentage. I will also note this is a breakout EA making profit (or at least keeping losses minimal) during a time where most breakout EAs are in draw down. I believe the markets are beginning to wake up a bit and favor this type of system again however ;)

Joseph

Offline Humble Trader's Fx

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Re: LEGEND
« Reply #256 on: April 18, 2019, 10:41:47 AM »
Atomico thank you for the kind words. We can start over fresh.

Humble here are the answers to your questions. Let me know if anything needs more explaination.

1) Good idea I will include them in the zip/installer for future updates and you will be happy to hear there already is such a folder in the member's area with settings and strategy tester reports for the settings. I will attach a pdf that shows the highlights of the 2.0 release and also images of the links for current settings in our members area and at the MQL5 market. In the future I will post the settings here as well or at least links to the settings.

2) The hard stop function simply uses a hard stop (at the broker) for the trailing exit and break-even functions. Honestly I do not recommend it. I added it after numerous request from a few clients with huge trading accounts. I think it is more of a security blanket. The reason I will not be using it is we already have safety measures in place including an orphaned trade check after re-initialization and a hard stop (initial broker stop loss placement) for the event of internet interruption, platform freeze, power outage, etc.. The hard stop for trailing will keep the stop closer yes, but it will be hit more often than the "virtual stop" we use by default. The reason for that is Legend trades only on "bar close" and many times the price will dip below the trailing stop but never CLOSE below the trailing stop, thus keeping the trade alive and in the long term much greater profit accumulation. So it's up to you the individual trader what you prefer to live with on a daily basis.
3) For controlling losses we use break-even, trailing stop, and partial closings. I think you'll find v2.0 does a better job taking more off the table on a daily basis and as the strategy tester shows still hangs on during strong movements. It's a balancing act. I agree that it needed some work. Perhaps we can improve upon it further, In v2.0 we are now taking profits sooner, with less spacing required between closings. Of course the percentage that is closed can be adjusted to anything we want. I will post some settings using a higher closing percentage. I will also note this is a breakout EA making profit (or at least keeping losses minimal) during a time where most breakout EAs are in draw down. I believe the markets are beginning to wake up a bit and favor this type of system again however ;)

Joseph

Excellent guide, Joseph; can't wait to get some stats on the new upgraded ver. 2.0. as we follow your two live accounts:

https://www.myfxbook.com/members/CEF_EAs/legend/2663809

https://www.myfxbook.com/members/CEF_EAs/legend/2677048




Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Online reinerh

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Re: LEGEND
« Reply #257 on: April 18, 2019, 06:09:38 PM »

nice eu sequence today,

even atomico should be happy today :)

Offline Humble Trader's Fx

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Re: LEGEND
« Reply #258 on: April 18, 2019, 06:12:22 PM »

nice eu sequence today,

even atomico should be happy today :)

I'll second that; grabbed on to that EU like a wild dog and never let go until the money pockets were torn and green pips spread all over the ground!  ;)


Regards,
HumbleTrader
We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

Offline atomico

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Re: LEGEND
« Reply #259 on: April 18, 2019, 10:36:56 PM »
miss few the trade today.

i have not updated the expert because i have a JPY trade still open from yesterday... yes, i got the good EURO series, but unfortunately the last 2 positive SELL are not present on my account.

i do not update the bot for fear to losing control of the JPY trade... probably the right choice was to close the trade and update the bot (yesterday)

now i have 1 BUY and 1 SELL on JPY (negative, same as Joseph account), plus 1 SELL on EURO... i hope that JPY decide UP or DOWN direction, just to close all and install new version.

last trade on GOLD show good performance, if market is good the expert can made good return... i need to be keep calm and relax...

today i ran away from everything... wife, children and me...
« Last Edit: April 18, 2019, 11:34:02 PM by atomico »

Offline atomico

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Re: LEGEND
« Reply #260 on: April 24, 2019, 02:14:16 PM »
price going down again... sell trade on EURO was bad today...


Offline atomico

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Re: LEGEND
« Reply #261 on: April 26, 2019, 06:13:36 PM »
hi guys,

some one have EURO buy trade open? i have also 1 buy stop pending...

Offline Humble Trader's Fx

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Re: LEGEND
« Reply #262 on: April 26, 2019, 09:29:10 PM »
hi guys,

some one have EURO buy trade open? i have also 1 buy stop pending...

I "did"; closed it for a small loss. I don't like to carry trades open over the weekend.


Have a good one Atomico.  :)

Regards,
HumbleTrader


We humbly approach the Forex Market and take only what is earned through our hard work and intelligence.

 

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