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Thread: EA: Target equal to Stoploss (TP = SL)

  1. #1

    Default EA: Target equal to Stoploss (TP = SL)

    To find EA's with a real "Edge" in it's entry logic, we must find out if an EA is really capable of placing entries at the right timing, meaning that it mostly hits the target before it hit the stoploss. (With TP = SL)

    Ok, a lot EA's seem to hit the target before it hit the stoploss BUT if we look better into this, then most of the time this is because the stoploss is put further away than the target, or more dangerous, there is no stoploss at all. Although these kind of EA's can show a very nice growing balance curve, in the meantime the open loss can grow and grow and once it hits the stoploss it eats the profit away resulting that it is not profitable in longer run or even worse, it blow up the account. If we would take a coinflip EA (which enters purely random) and we would make the stoploss value much bigger than the target value it can show the same (dangerous) nice growing balance curve and doesn't even have any timing logic for the entry. (No "Edge")

    So in my opinion, what we really need to find is a profitable EA with the Target set at the same value as the Stoploss, this way the chance that the target gets hit is the same as hitting the Stoploss, the only factor that makes it profitable and thus hitting the target more often is a good timed entry logic. (Ofcourse in practice there is a negative influence of the spread, slippage and eventually tradecost, to reduce this influence we could for instance trade on a higher timeframe so we have a relatively bigger TP/SL, or eventually offset these costs in the TP/SL)

    When such "TP=SL" EA is profitable and also in the longer run, then we know that the entry logics are timed very good and we can say that we found a real "Edge" for our entries.

    Funyoo, perhaps it is an idea to create a topic in your Elite area intended only for EA's like this, that include an extern parameter with one value for both SL and TP, so where SL=TP so that we are able to optimize this parameter to find the best TP=SL for a certain EA and TF, and maybe we can find one that is profitable in the longer run. For longer run it would be preferrable if the "TP=SL" can be dynamic (Adaptive to volatility).

    It sounds so simple, but i think it is very difficult to find a profitable "TP=SL" EA.

  2. #2

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    Its a great sentiment, but as you said its so difficult to find one like this that is profitable.
    I have an old dodgy looking commercial EA like this that actually has a TP nearly twice as large as the SL, Forex Enforcer. It uses the awesome indicator and actually kind of works, but it needs to be optimised every 3 months or so.
    I stopped trading it when it hit the SL 4 times in a row at one point, but if I dug it up and ran it through the optimiser it might be viable again. It was one of the only ones I didn't refund, simply because it was the only one I ever got that at least tried to be SL< TP.

  3. #3

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    What was the name? Maybe you can explain the Ea logic to Funyoo and he can recreate a similar one?
    Just an idea.
    I am also tired of those Eas that CycleTrader explained in his post, I think it's time to think a type of EA.

  4. #4

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    Quote Originally Posted by carlscott1982 View Post
    Its a great sentiment, but as you said its so difficult to find one like this that is profitable.
    I have an old dodgy looking commercial EA like this that actually has a TP nearly twice as large as the SL, Forex Enforcer. It uses the awesome indicator and actually kind of works, but it needs to be optimised every 3 months or so.
    I stopped trading it when it hit the SL 4 times in a row at one point, but if I dug it up and ran it through the optimiser it might be viable again. It was one of the only ones I didn't refund, simply because it was the only one I ever got that at least tried to be SL< TP.
    A TP nearly twice as large as the SL sounds interesting to test, if "Forex Enforcer" would be profitable (after a new optimization for a reasonal period) then in theory this might suggest that it's edge could be better than when TP=SL . If you are able to dig it up and dust it off, i am curious if we can find some decent settings.
    Last edited by CycleTrader; 10-11-2010 at 19:10.

  5. #5

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    TP=SL EA (1200% in 2 months!) TP = SL System | Myfxbook

    Is this the one you are looking for? Would be nice if there is the EA to test.
    Attached Files Attached Files
    Last edited by scalpmaster; 10-12-2010 at 21:39.

  6. #6

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    That ea (posted on myfxbook) sounds a scam to me.

  7. #7

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    Hi Civfan, the EA on myFXbook doesn't seem like a scam. The guy isn't selling or promoting anything, and its just a micro account. It just looks like a great example of what we could come up with if we could make a good TP>SL system.

  8. #8

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    Quote Originally Posted by CycleTrader View Post
    A TP nearly twice as large as the SL sounds interesting to test, if "Forex Enforcer" would be profitable (after a new optimization for a reasonal period) then in theory this might suggest that it's edge could be better than when TP=SL . If you are able to dig it up and dust it off, i am curious if we can find some decent settings.
    Sure, I'll start up an optimization now for the last 6 months and report back in a day or two if it looks viable. Technically its a commercial EA I paid for, but it has no .dll and its not for sale anymore because the usual dodgy guys who were selling it have disappeared, so hopefully I'll be able to post it here.

  9. #9
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    I don't know exactly when ForexEnforcer first came out on the market, but it seems they released the 2010 optimal settings in Jan 2010. However, when I tried the main website, it is no longer exist. Matter of fact, go daddy shows website is up for sale. It's weird. It seem pretty good EA and why seller vanished?

  10. #10

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    I dont think it was that good an EA. I used to run it live until it started tanking. Needs constant optimisation/ curve fitting. Plus it had the same snake-oil marketing copy and $97 price tag as all the others so it most likely got lost in the pile.
    Running an optimisation now and seeing some pretty good results though.

    Scalpmaster, maybe set up a thread based on the system you posted there. Looks interesting and maybe Funyoo can set up an EA..?

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