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Thread: LMT Forex Formula

  1. #31
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    I assume to tried the EA? the forex trend panel cannot be backtested, it shows only the actual currency trend status.

  2. #32

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    I tried to backtest it on the EURUSD on the dailies, but it just trashes the test account.

    MM would be a nice addition for it, as well as not opening another trade if the floating blanace isn't 0 or in the positive (maybe it does that already, I don't know - haven't seen the code)

  3. #33
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    MM should be integrated somewhen next week.
    But this is LMT pure - in choppy marktes, there are huge losses as the stop loss is pretty large. Try UseLMTTrend=false, UseMASupport=true, TrendConfirmationMA=3, EntryTriggertMethod=2. This results in a much better result.

    LMT probably will not fixed by MM alone, as a trend indicator should be supported by some kind of trend strength indicator.

  4. #34

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    I am a newbie, not an expert at anything. Having said this I'll make a few guesses that while LMT shows lot of potential the 4hr TF is too wide to trade effectively. Perhaps if we used LMT as a directional guide then open/close trades from the 15m TF always opening trades in the direction of LMT 4hr TF. This way we might cut down on big stop losses and whip saws. With the shorter TF manipulation it might be a good idea to close with less pips rather than risk quick reversal death to the trade. On the flip side more accuracy will encourage higher lot bids for more consistant winnings.


    Quote Originally Posted by Rolf View Post
    MM should be integrated somewhen next week.
    But this is LMT pure - in choppy marktes, there are huge losses as the stop loss is pretty large. Try UseLMTTrend=false, UseMASupport=true, TrendConfirmationMA=3, EntryTriggertMethod=2. This results in a much better result.

    LMT probably will not fixed by MM alone, as a trend indicator should be supported by some kind of trend strength indicator.

  5. #35
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    Hi Rolf

    Thanks for the LMT EA, it is great that you took the time out to write this and share for all to use, i will give it a go and let you know how it performs

    Quote Originally Posted by Rolf View Post
    Hi wannaberich
    I have now the first version in place, without money management and still without candlestick testing according to the LMT manual. I am still testing it. I hope to upload the EA by end of the week for further testing, probably including candles but still without money mgmt.

    I had a few losses this week with LMT, mainly due to choppy market conditions. This disclosed the major wekaness of LMT, i.e. the trend is not tested with regard to its strength. The trend indicator is fine, but does not give any indication about its strength. So I will try to enhance LMT with other elements, e.g. with the Fx Ed strategy by Ed Ponsi (from his book Forex Patterns & Probabilities). He checks for the 10 day MA as a support over the last 10 days, for the 10 day MA > 20 day MA, 20 day MA > 50 day MA and 50 day MA > 200 day MA (reverse for short). I found that this system also gives good signals, with strong trends. Obviously there are not too may signals per year and pair (maybe 4-5), but either I extend the system to LMT (without the 200 day MA which is maybe too restrictive) or to all 28 pairs (of the 8 major currencies). This would probably give enough signals even if we subtract the flat pairs such as AUDNZD and EURCHF. I will see next week which way will be the best.

    Rolf

  6. #36
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    I just did some backtests and it seems to work fine, BE, TS, TP.

    Anyow the EA is fantastic and really appreciate all the time you have put into making it work.

    It also seems to have a TP set however i think with the LMT system you dont set TP you just let it run until it crosses back above the MA, some of those trades in my backtest should have been a lot larger if there was not TP, how do i turn that off

    Also i can not seem to get the BE part working either, none of my trades in the backtest are getting to BE!
    Last edited by wannaberich; 06-28-2009 at 03:19.

  7. #37
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    Hi wannaberich
    TP should be set for lot 1, but not for lot 2. This is closed using the trailing stop. That should work, but I will check again. BE worked in my forward tests, but so I will check again in the backtests as well. Certainley there will be some bugs in the code

  8. #38
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    Hi

    No matter what settings i use the TP part remains, which part do i need to make 2 so the TP part does not work. If it is the part where the TS is then i have changed that but the TP still remains

    Quote Originally Posted by Rolf View Post
    Hi wannaberich
    TP should be set for lot 1, but not for lot 2. This is closed using the trailing stop. That should work, but I will check again. BE worked in my forward tests, but so I will check again in the backtests as well. Certainley there will be some bugs in the code

  9. #39
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    the TP is only used for lot 1 where we have a fix TP. as the second lot is stopped by a trailing stop only, here TP should be zero always. Obviously, this means that SL is adjusted (see my backtest on GBDUSD since May 1; trades 1 and 2). As the trailing stop (SL) gets higher and higher this will result eventually in a profit as well. I will extend the manual.
    The SL should be adjusted ongoingly, but should never be lowered from a certain level. Anything else would be a bug.
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  10. #40
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    Hi

    Thanks for the HTM it makes it so much clearer is it working perfectly now, i have backtestest the same time as you and get similar results, obviously our results will ne not exactly the same because we have different brokers, but close enough.

    I look forward to the next version. thanks for the effort

    Quote Originally Posted by Rolf View Post
    the TP is only used for lot 1 where we have a fix TP. as the second lot is stopped by a trailing stop only, here TP should be zero always. Obviously, this means that SL is adjusted (see my backtest on GBDUSD since May 1; trades 1 and 2). As the trailing stop (SL) gets higher and higher this will result eventually in a profit as well. I will extend the manual.
    The SL should be adjusted ongoingly, but should never be lowered from a certain level. Anything else would be a bug.
    Attached Images Attached Images LMT Forex Formula-lmt-gif 
    Attached Files Attached Files
    Last edited by wannaberich; 06-29-2009 at 02:50.

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