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Thread: Ilan 1.6 improved/must have feature

  1. #31

    Default I'm with Bill on this one.

    I made the rookie mistake of NOT changing the SL and TP from 30/10, to 300/100 because I was using a 5 digit broker. Now the account doesn't blow out in backtests. I also get better results with a lotexponent of 3. It brings the average price down lower to the recent PA, so a higher chance of a small retrace closing the positions.

    It handles well in the sideways chop, of course if its so sideways that it never moves more than the pipstep, well, no EA makes money on a horizontal line.

    If it really takes off on a trend, I'll will do what TKBoris had said, to switch to hourly, so that it opens at the next H1 candle, thereby skipping a few pipsteps. Majority of the time, Ilan only needs 4 pipsteps to get the retrace that's needed. (using the settings that I have played with and optimized, and chosen the DD level im comfortable with, which everyone should do, and stop asking other people to tell "what settings are best")

    Also, as a hedge, I have set AUDUSD to be 'short only', and EURUSD to be "long only". Since these pretty much move in tandem, one will be averaging down, while the other will be snapping up some pips.

    But, it needs babysitting, because sometimes there won't be a TP, it will be 0, (apparently due to the requoting of the broker) OR, instead of multiplying the lot exponent, it will just repeat the same lot size. I'm still using 1.4SL because 1.6x, although seems safer, I like 1.4SL more aggressiveness, and purity to the PA.

    next week I'll go live with my tax refund stash. The parameters I've chosen to go with produced about $70 / day, with the DD I can handle, plus doubling that amount for deposit in the account.

    that's my 2 cents on it.......

    SP
    "If you took everything I've accomplished in my life, and condensed it down to one day, it'd be decent." -- George Costanza

  2. #32

    Default

    After how many steps do you switch to the 1HR Time Frame on that Multiplier?

    When do you decide to take the loss and decide that price is not going to hit your TP?

    Because on backtests the account blows.

    I'm wondering can anyone add a Time to Trade filter to this EA.

    Could have potential with a high multiplier when market is ranging.

  3. #33

    Default

    Quote Originally Posted by druss View Post
    After how many steps do you switch to the 1HR Time Frame on that Multiplier?
    For me, with my parameters, 4 steps takes care of the majority.

    Quote Originally Posted by druss View Post
    When do you decide to take the loss and decide that price is not going to hit your TP?
    Failure is not an option. With enough pipsteps stretched out, and enough funds in the account...what goes up must eventually come down, especially sometime in the 1 min timeframe.

    Quote Originally Posted by druss View Post
    Because on backtests the account blows.
    Some backtests, not all. Do your own optimization and choose one that suits you.

    Quote Originally Posted by druss View Post
    Could have potential with a high multiplier when market is ranging.
    yes it does it in my opinion too.
    "If you took everything I've accomplished in my life, and condensed it down to one day, it'd be decent." -- George Costanza

  4. #34

    Default

    Hi funyoo,

    when you have time, could you code the reverse system option in this EA thanks in advance.

    Cheers.

    Quote Originally Posted by tkaboris View Post
    Looks like ilan is improved by adding rsi on enters, thus requiring less capital to work with it.
    Currently how i use ilan.
    If i set it to 1M it is going to make lots of money but eventualy will blow up. If i put it to H1(which i currently do) it takes less trades. So what i do is when i am by the computer i switch to M1 and watch it till its going to open second or third martingale position and then i switch it back to H1. Usually if market is right M1 will not open 3 martingale position, but it its wrong i have swithced to conservative settings.

    I have managed to have pipstepexponent enabled. Two weeks ago was a 450 pip move in opposite direction. With depo 1000, lots 0.01 lot exp 1.5 and pipstep30 and pipstepexp 1.3 i had only -350$. This significantly helps live through large drawdowns. Pipstep exp is when pipstep is 30, pipstep exp 2 will open next order at 60 pips.

    SO Feature is:
    To have Ilan work on 1M with fixed pipstep until 2 or third(varialbe) martingale position is opened and they switch it to h1 with pipstepexp enabled. When all of the positions closed switch back to M1 and fixed pipstep.

  5. #35
    Administrator funyoo's Avatar
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    Default

    Quote Originally Posted by claypot View Post
    Hi funyoo,

    when you have time, could you code the reverse system option in this EA thanks in advance.

    Cheers.
    Hi claypot,

    Here it is.
    Attached Files Attached Files

  6. #36

    Default

    I'm playing with the EA in funyoo's previous post above me on a 4-digit demo account.

    Sometimes it produces "Error: 0" in the experts window, and I have no idea what that is all about.
    It still trades on demo though ... I just can't get it to backtest...
    Last edited by Neo-Rio; 05-14-2009 at 02:13.

  7. #37

    Default Pip Step not working

    I've loaded this the EA up on a 5 digit broker and changed the TP, SL and PipStep by adding a zero to each. Looking at the attached picture, you will see the first trade was at 1.35873. A second trade should have been placed at 1.36173 with the PipStet set to 300.

    The EA works correctly on 4 digit brokers, but when I tried it on FXPro a 5 digit broker it is not placing the next trades according to the pip steps. Is there a way to fix this?

    Bob
    Attached Images Attached Images Ilan 1.6 improved/must have feature-iland16-pipsteprsi_03-may-14-15-10-gif 

  8. #38

    Default

    Quote Originally Posted by funyoo View Post
    Hi claypot,

    Here it is.
    Hi funyoo,
    Can you post the Ilan's latest version with SL & TP and another version with SL,TP & Timefilter.
    I need the two each with and without Timefilters with SL &TP

  9. #39

    Default additional function needed

    Well i am still using 1.6 made 45% for last 6 weeks.

    What i am searching is to add another function to this ea. Well need to specify different lot multiplier starting at the specific order. For example for first 3 orders we can keep 1.59 but after 3 order i would want to keep it down to 1.2 for example. This will be less riskier.

    Can anybody help?

  10. #40
    Junior Member
    Join Date
    Jan 2009
    Posts
    21

    Lightbulb profit monster

    this trading ea have great potential thanks all
    but is this robot accepted by all brokers (alpari)
    and what will the ea do by reconnection ???(it missing mayby some trades)

    can we make this ea more profital without more risks by using double entry points example.....the market go up

    1 sell(0.01) and 1 buy(0.01) for the first trade take profit by the first pipstep

    then takeprofit buy 50 pips (pipstep 50 pips(example))
    open a new sell(0.02) and buy(0.01) order

    then takeprofit buy ..... pips
    open a new sell(0.03) and buy(0.02) order

    then takeprofit buy ..... pips
    open a new sell(0.04) and buy(0.02) order

    then takeprofit buy ..... pips
    open a new sell(0.05) and buy(0.03) order

    then takeprofit buy ..... pips
    open a new sell(0.06) and buy(0.03) order

    and so on with the moving pipstepsfor buy and sell entrys............but no trailing

    if the market turns we hit the take profit sell we close buy too in a little loss after a x-times variable we have opening a new buy entry in the good way of the market otherwise the order stays open with a stoploss

    you even get profit when you are losing in the old situation
    can you make it funyoo
    so we can test this money monster!!!

    thanks all

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