Kancing Baju actually means "Shirt Button", and I'm assuming it's author is Indonesian because I have a pretty good knowledge of the langauge.
Now, for that proper translation of the Indonesian BillR requested
(Here goes nothing):-
Abra, how about if the TP martingale gets changed to 40 or 60 points?
The thing is scary if you have a 3.2 lot open position (even though you're still in profit)
What does "add profit =3" mean?
The martingale TP, if I'm not wrong, is 20 points by default.
It was made like that because with half profits (10 points) your capital has paid off, so adding Add Profit=3 x lot finishes it.
Even so, we could also come up short because of our use of a trailing stop and dynamic TP because the moment the EA opens it's last order, all the TPs change by themselves. (If you don't want the TP to change, kill the Dynamic TP setting)
When the profit on the last lot reaches 15 points (as big as the value of the TrailingStop), then the SL gets set to the order price so that if it falls back to hit the SL, the profit on that lot is 0.
If after hitting the stoploss on the last lot it turns out that in fact the trend goes the opposite direction and then later shuts down all orders on the TP point, then the total profit on the session can enter a minus because the TP has already gone beyond what was set on the new position.
Although this can result in a minus, on the other hand with Dynamic TP switched ON this kind of incident is rare.
It's useful for avoiding cut connections should the EA be manually closed when it's already achieved a profit.
Thanks for the translation! :)
Judging by the thread this EA was found on, it seems to have done incredibly well in a competition....
I'll go through and read through the Indonesian thread it was found on, and post anything I learn about it in some intelligible English here.
UPDATE: Unfortunately the ex4 posted on this thread works on Demo only... thing is I have no idea (yet) where to get the unlocked version that runs live.
Will keep testing on demo for now, but I would really like to find that mq4... *sigh*
Last edited by Neo-Rio; 05-12-2009 at 14:36.
Neo-Rio - check your mail.......
just one question why the demo version of kancing baju that you posted not working in demo account? i checked the expert tab keep saying " cannot open file" thanks for answer funyoo.
sorry funyoo i just checked the first post you didn't post the robot but maybe you can answer my question pls.
I'm backtesting this EA with $10,000 and with the given set files.
Sure enough, the martingale tends to detonate the account at some point.
It's all gravy until doomsday though.
Will most certainly need to use 0.01 lots when under $10,000
In fact, in order to avoid having the account blow up, I'd actually recommend using 0.01 lots on $10,000 accounts. The less lots, more money - the more likely you won't get margined. Unfortunately that means that this EA doesn't make much profit over the long term however. To add injury to insult, a string of losses will wipe off most of the profits when the martingale gives up.
In any case, I read from the forum that the author, when using this EA, recommends taking profits regularly out of the account in preparation for when the martingale explodes, and rechurning his profits into other accounts and then starting the whole thing all over again over multiple accounts.
Lets say for example that we have $10,000, and we set up our account. At the end of one month we are $3000 in profit. We take that and put it into another account (and maybe use a different currency pair that works)
The initial $10,000 account would have to survive 4 months at least making a consistant $3000 profit to break even, as it would get exploded at any time - meanwhile you are running other accounts using the same EA.
In one of my backtests, it only took 2 months for $10,000 to explode, margin calling and ruining the account. This wiped 75% of the account away.
So assuming that we removed $3000 from the first month, we'd be left with $2500 from the margined account....and ... uh.... really it's hardly worth it!
Playing it this way, you'd be gambling that the martingale lasted half a year.
ultimately it's a pretty bizarre way to make money, and you'd have to expect that one of your accounts will explode at any moment.
i wouldn't run it live. It's more like gambling than trading. Martingales suck.
There seems to be a revision C of this EA out there which I haven't tried. Maybe it's different.... anyone have it?
Last edited by Neo-Rio; 05-13-2009 at 10:18.
I have agree strongly with the views above - this EA is BAD i had a nice pot of over $1100 untill yesterday morning, but due to the BoE govenor inflation report yesterday morning, it had a major imapct on the GBP/USD - the pot now stands at just $300
The Ea could not handle such dramtic price jumps, and it was eventually margined out! - and i was only trading 0.01 lots! - my advice is not to use this EA with real money or you will be very disappointed!!
Last edited by cybermega; 05-14-2009 at 09:00.