This is a manual trading system using the EA Phantom_AddSix_02a
First of all thanks to MetaCoder, Frazer and others for developing this worderful basket system, i hope MC doesnt mind using his EA here (credit to MC the original author)
Before you read any futher, please visit the original thread at http://www.forexfactory.com/showthread.php?t=252521
pl read the thread from start to end. atleast 2-3 times. understand the method, understand the risk involved, understand the EA settings for optimum results, read and analyze the wonderful results posted by Frazer, MC, vienna and others. If you dont understand any of these aspects, then quit this thread, otherwise you will lose money
What is Phantom_AddSix_02a ?
We have 2 groups, buy group of 7 symbols and sell group of 7 other symbols. these 14 together form hedge. Out of these 14,
we have seperated best performing group of 6. buy group of 3 (GBPUSD, UDSCHF, EURJPY) and sell group of 3 (EURCHF, CHFJPY, GBPCHF).
these 6 together again forms hedge. at start hour, the EA calculates how much each pair (in 14) moved ahead. so at the top of each hour, it calculates 'phantom gain' for each pair since start hour. if the biggest winning pair is in our phantom 6, then EA trades that pair in its direction. again after 1 hr, it does same thing. but always the start hour is same. however the start hour is reset every 8 hours so that it coincides with market timings like AS, EU, US. The EA closes all trades if combined profit exceeds the Profit Percentage. then EA starts new cycle with same start hour until start hour is reset
Lot size
this is the most important aspect of this method, it can make or break the system. this method has tendency to run into huge drawdowns
and eats lot of margin. so we need to arrive at optimum lot size. this is done by Max Margine To Use (MMTU) and the leverage. MMTU is
the max margin committed for EACH trade. so if its too large, it results in big lot size and you may run into margin calls. if its too
small then lot size may be too small and may take more time to reach PP. Leverage plays a major role. pl visit the original thread to
understand how this is arrived based on your account settings. For 3000 USD account, 50:1 leverage , you can use MMTU 0.4 and PP 0.25.
you can try and tweak these numbers on your demo to know which one is best for your account. Until you understand how it works, error on lower side, means trade with small units
How this manual system works ?
You need a demo account with similar account size, leverage , min lot size as your LIVE account. this is mandatory. start EA on demo 1 hr before EU opens, ie 05:55 AM GMT. This EA must be running 24x7. For some reason you stopped it, again start at 05:55 AM GMT.
At 07:05 AM GMT, take a look at whats happening in the demo account, how many open trades, whats the current PL etc. there are 2 types
of scenarios.
one where the current basket is loaded with several trades (more than 5) and all of them are same pair. that means you find 7 trades and all 7 belongs to same pair. doesnt matter wich pair its. in that scenario, dont trade on LIVE account until the demo account compltes this cycle. it may take few hours and some times few days to come out of this mess. stay on side lines.
another scenario where you have a basket with atleast 2 pairs and the total basket is in loss. then trade this basket on LIVE account. you place same orders at market price. If the demo basket is in profit side, wait for it to come to losing side or PP is hit
Its very important to trade in same lotsize in LIVE as in demo.
If you trade the basket, then after every hour check the EA and any new order in demo, place same order in LIVE. When the total PP reaches your PP level, close all trades in LIVE and wait for next cycle.
Dont place any new orders after US session is closed. however you can close them if PP is hit
Be prepared for huge drawdown sometimes, in that case dont get panicked, be desciplined, it will comeback to PP.
This system doesnt have stoploss concept, however for my safety i put 200 pips as stoploss for each pair, just in case
Dont trade this on major news day. let the news die before you enter
Please practice this manual system on a demo system for 1 month atleast. open 2 demo accounts and treat 1 demo as LIVE
[u]does this substitute the EA or does it perform better than EA ?[u]
The aim of this manual system is not to compete with EA. In fact it piggy backs on EA, so its as good as EA. this manual system is for those who dont have MT4 on your broker or those that are afraid of using EA on LIVE accounts.
dont ask questions on how uch profit i can expect in 1 week, 1 month etc. this is not a get-rich-quick system. but if you follow it with descipline can give you decent profits. do this on demo account for 1 month to see yourself.
First of all thanks to MetaCoder, Frazer and others for developing this worderful basket system, i hope MC doesnt mind using his EA here (credit to MC the original author)
Before you read any futher, please visit the original thread at http://www.forexfactory.com/showthread.php?t=252521
pl read the thread from start to end. atleast 2-3 times. understand the method, understand the risk involved, understand the EA settings for optimum results, read and analyze the wonderful results posted by Frazer, MC, vienna and others. If you dont understand any of these aspects, then quit this thread, otherwise you will lose money
What is Phantom_AddSix_02a ?
We have 2 groups, buy group of 7 symbols and sell group of 7 other symbols. these 14 together form hedge. Out of these 14,
we have seperated best performing group of 6. buy group of 3 (GBPUSD, UDSCHF, EURJPY) and sell group of 3 (EURCHF, CHFJPY, GBPCHF).
these 6 together again forms hedge. at start hour, the EA calculates how much each pair (in 14) moved ahead. so at the top of each hour, it calculates 'phantom gain' for each pair since start hour. if the biggest winning pair is in our phantom 6, then EA trades that pair in its direction. again after 1 hr, it does same thing. but always the start hour is same. however the start hour is reset every 8 hours so that it coincides with market timings like AS, EU, US. The EA closes all trades if combined profit exceeds the Profit Percentage. then EA starts new cycle with same start hour until start hour is reset
Lot size
this is the most important aspect of this method, it can make or break the system. this method has tendency to run into huge drawdowns
and eats lot of margin. so we need to arrive at optimum lot size. this is done by Max Margine To Use (MMTU) and the leverage. MMTU is
the max margin committed for EACH trade. so if its too large, it results in big lot size and you may run into margin calls. if its too
small then lot size may be too small and may take more time to reach PP. Leverage plays a major role. pl visit the original thread to
understand how this is arrived based on your account settings. For 3000 USD account, 50:1 leverage , you can use MMTU 0.4 and PP 0.25.
you can try and tweak these numbers on your demo to know which one is best for your account. Until you understand how it works, error on lower side, means trade with small units
How this manual system works ?
You need a demo account with similar account size, leverage , min lot size as your LIVE account. this is mandatory. start EA on demo 1 hr before EU opens, ie 05:55 AM GMT. This EA must be running 24x7. For some reason you stopped it, again start at 05:55 AM GMT.
At 07:05 AM GMT, take a look at whats happening in the demo account, how many open trades, whats the current PL etc. there are 2 types
of scenarios.
one where the current basket is loaded with several trades (more than 5) and all of them are same pair. that means you find 7 trades and all 7 belongs to same pair. doesnt matter wich pair its. in that scenario, dont trade on LIVE account until the demo account compltes this cycle. it may take few hours and some times few days to come out of this mess. stay on side lines.
another scenario where you have a basket with atleast 2 pairs and the total basket is in loss. then trade this basket on LIVE account. you place same orders at market price. If the demo basket is in profit side, wait for it to come to losing side or PP is hit
Its very important to trade in same lotsize in LIVE as in demo.
If you trade the basket, then after every hour check the EA and any new order in demo, place same order in LIVE. When the total PP reaches your PP level, close all trades in LIVE and wait for next cycle.
Dont place any new orders after US session is closed. however you can close them if PP is hit
Be prepared for huge drawdown sometimes, in that case dont get panicked, be desciplined, it will comeback to PP.
This system doesnt have stoploss concept, however for my safety i put 200 pips as stoploss for each pair, just in case
Dont trade this on major news day. let the news die before you enter
Please practice this manual system on a demo system for 1 month atleast. open 2 demo accounts and treat 1 demo as LIVE
[u]does this substitute the EA or does it perform better than EA ?[u]
The aim of this manual system is not to compete with EA. In fact it piggy backs on EA, so its as good as EA. this manual system is for those who dont have MT4 on your broker or those that are afraid of using EA on LIVE accounts.
dont ask questions on how uch profit i can expect in 1 week, 1 month etc. this is not a get-rich-quick system. but if you follow it with descipline can give you decent profits. do this on demo account for 1 month to see yourself.
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Phantom_AddSix_02a.mq4
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