New EA No Sleep EA With no restrictions

I need to say, is a VERY GOOD EA for free.(if no the best)
stay using on 3 accounts with 100usd on xm, and make 5-10% week since v1.
BUT, i do A LOT OF BT(90%) and get eurusd audusd and gbpusd(1 per acc) without mt, just fixed lot, 0.03. just TODAY on the 3 acc i do more than 10usd (in 300 total, 10 is a GREATH number to EA)

 

THIS EA IS PROFITABLE

I’ve startet 8 Weeks ago with this EA live on real account.

Start Balance: 5000 cent (50 EUR )
Leverage: 1:1000

Lot Size at beginning: 0.03 then after 100% growth 0.04, now 0.05

Lot multiplicator: 1.155

Take Profit: 6 pips

Pip Step: 10 Pips

Currencies are:
EUR-USD
EUR-GBP
GBP-USD
USD-JPY
EUR-JPY

Every pair is open on 2 Charts. One for only sell the second for only buy.

For the haters, here is the proof!

https://www.mql5.com/de/signals/362979

Good Job Oshaban

 

1248CCE0-9635-4070-ACE7-A658F99603D4 by maxg85 posted 27 Dec 2017 at 23:07

 

I thing good for 2 chart only sell and only buy good

 

good job good v3 ---- keep it up

 

You are an interesting trader lol

 

On what time-frame?

 

Okay its the M5 timeframe, faster profit and higher draw down

 

Oshaban i think u know the answer.

Tell me when i can write the answer.

 

Hello,

Maxg85, which TF you use to trade as you show the pairs?

Thank you

 

Based on your logic, trading multiple pairs would require using higher time-frames like H1 and H4. From my investigation he used the 4hr chart, due to multiple pairs 5 in this case and a small starting account balance. This is my last shot lol

 

Here's my attempt to provide an answer for the correct time frame to use.

The right and short answer is:

It depends on your risk tolerance, profit expectations and the kind of broker that you use.

The time frame I will use personally is:

1 minute time frame. I will provide my reasons at the bottom of this post.

Firstly, you need to understand how your EA responds to your time frame that you set on the chart. Essentially, any EA will be triggered to perform an action at your specified time frame.

Let me give you an example.

If you set 5M as your time frame, at every 5 minutes, the EA will check if the market is trading against your position.

If it is NOT against your position, the EA does nothing.

If it is against your position (say you long the currency pair, but pair is going south), it then checks the distance between the current price against the previous order entry price. If this distance is equal or more than the Pip Step that you specify, then the EA will proceed to open a new order. The goal of doing this is to average out your orders, and therefore you will also notice that the Take Profit level is also adjusted to increase the chance of taking profit. As you know, prices don't move in a straight line. There is also an impulse and then a correction. And when prices move too quickly up, they usually correct themselves. This is also known as a pullback, retracement or reversal. The strategy of No Sleep EA is to take advantage of that.

I will use the 1 minute time frame because now I have control over the Pip Step and with the Pip Step Multiplier (PSM), I can exercise finer control over how the EA behaves. I now can increase the distances between each order at any time. Most martingale EAs do not have the features of No Sleep V3 and therefore require manual intervention. Typically, once a significant draw down occurs, I will logon to my VPS and increase the time frame of the chart. The reason for doing is again, is to increase the Pip Step which I do not have control over.

Oshaban saved the day by putting in this feature. Thank you once again

So if you are like me, who wants to have finer control over how the EA behaves, 1M is good.

If you are starting out and unsure how this work out, I would suggest a 5M or 15M with a small lot size. My advice is to open several demo accounts and running them simultaneously with the different variables. Observe them over a few months. Make certain tweaks and observe them again. That in my opinion, is the only way to learn and to grow as a trader and thinker.

In short, the perfect set file does not exist.

 

Oshaban, a small suggestion for your next version would be to indicate the level in the comment section. For instance if the EA opens 5 orders, the comment of the last order can read - No Sleep EA v3 - tier 5

Thanks!

 

I tried this EA, but it does not work well

 

Shorter the time frame, the quicker the ea responds to the market changes. That is why I selected this. BT also validated this.

You have same level of control on any time frame as the settings are there for all TFs. Pip steps, PSM etc are all there for all time frame. So, I don't agree shorter time frame gives more control.

 

What I still don't understand is what can be done if the market goes against the open positions. Say, I have an open position and market is going against it by 1000 pip and stays there. Until the market bounce back, noting can be done. If it moves against open position, it will draw down increases until account hits margin call. Pip step or PSM wont do any good in such situation. In back test, I have seen trades that were open for months.

Reducing multiplier and max number of trades reduces the risks in situations like this. But still there is no protection against this.

I have tried back testing older version by setting trade to close when drawdown hits 20%. With this the account kept on decreasing until it hits zero. So, SL is not a option for this.

How about hedging? the EA uses grid and averaging. Why not use Hedge grid? oshaban what do you think? You are the expert to give opinions based on your experience.

 

Okay I get it. The time frame is determined by your risk appetite. Scalping is typically done on the M1 charts because of its instant price action. The number of trades are more rampant, the high number of transactions on maxg85's account is a proof of this. Cheers

 

Hai oshaban,
I also run Ur ea. . My point of view he must be run in 1 minites time frame only. . Coz . . . 1 minute time frame is best

 

Hi guys, this is a follow up post on why M1 is my preferred choice.

As mentioned in my previous post, the EA will be triggered to perform an action at every time frame. If you look to the account statement at mql5.com, the opening time for orders is M1.

Imagine you load your EA at server time 11:59:45 with M1, the EA will trigger at 12:00:00. The second trigger will be at 12:01:00 and the third trigger will be at 12:02:00

If your chart is set to 5M, the EA will be first triggered at 12:05:00, the second trigger will be at 12:10:00 and the third trigger will be at 12:15:00

So the difference is that there will be 60 triggers in an hour if you set your chart at M1 and only 12 triggers on M5.

What this means is that the more times the EA is triggered, the more sensitive the EA is responding to the prices movement, which also means greater control for the trader.

Here is something that I encounter:

During news announcement, prices can surge very quickly on within 1-2 minutes. And because I was on a 5M chart, I was only able to buy at the very top, leaving a big gap in between. This will annoy me if prices begin to fall and form a range within that gap and not touching the TP.

Again, some people might prefer this behaviour because this translates to lesser draw down. However I prefer my orders to be evenly stacked as this is optimised for profits.

Cheers!

 

Perfect Kelmo, thats why i use M1!