I release a new update for PointBreak 5 Expert Advisor.(Build Feb 8, 2008).
The new update include:
1. Fix on M1 cycle lotsize bug.
2. Additional Parameter for M-cycle:
Before download the new demo release, please read additionalinformations below:
The logic behind Pointbreak EA is:
1) Pyramiding system; where we add more positions as the market ismoving in our favor based on technical analysis.
The pyramiding technique work best on situation where the positionsbecome skew to 1 direction.
For uptrend market, the EA work best if the positions skew to LONGpositions; And for downtrend market, the EA work best if the positions skew toSHORT positions.
2) Point Break EA will profitable on a trending market and cause adrawdown on choppy market.
PROBLEM WITH ALL TECHNICAL ANALYSIS TRADING SYSTEM (EXPERT ADVISOR):
Problem with all technical analysis strategy trading strategyis all indicators will be useless against sudden fundamental newsthat moves the currency against our positions.
On January 2008:
EUR market was very choppy because of 2 times cutrate on USD and the first time was above all expectation; the news caused some drawdown in M cycle.
(if your M cycle opened lot of sell positions before the news came; or you did not manually interrupted the EA when you hear the cut rate results).
How can you manually interrupt PointBreak EA?
You can interrupt the logic behind PointBreak EA using MSP ABOVE orMSP BELOW functions.
MSP ABOVE functions: Moving the Starting Point above the current positions.
MSP BELOW functions: Moving the Starting Point below the current positions.
Now, I will explain how to solve the drawdown at M cycle usingmanually MSP (Moving Starting Position) for the current situation.
FIRST:
We need to detect where the EUR market will go (in the followingweeks).
My last prediction this week for EUR: EUR will fall below 1.4500 before continue uptrend towards above 1.4850 next week. The low if it possible should be remain above 1.4360.
IT MEANS THAT WE NEED TO SKEW THE POINTBREAK EA POSITIONS TOUPTREND DIRECTIONS, BY CLOSING SOME PROFITABLE SELL POSITIONS ANDADDING SOMEBUY POSITIONS IN ORDER TO CLOSE OUR M-CYCLE PROFITABLE.
SECOND:
We need to manually MSP (Moving the Starting Point) BELOW (the time I write this message, EUR is at 1.4490).
These are the steps to manually MSP BELOW (for SpecialEditions only).
For POINT BREAK EA FULL VERSION, we have build in special function for these steps below.
1. Close all PROFITABLE SELL position (in your M cycle).
2. Move the Start Point M1 to last highest SELL position (in your Mcycle)
3. Open the Global Variable and set variable MACDBUYSELL to 0.
4. Restart your MT4 platform.
(You need to open the Comment at your MT4 trading platform to haveinformations which positions are C-cycle and which are M-Cycle.)
For more information about MSP ABOVE and MSP BELOW (for SE Editionsand Full Editions), please read additional PointBreak EA Tutorialsat our forums:
http://www.fxhope.com/forum
If you need guidance or have some questions about MSP functions, post it at our forum.
NEW UPDATE ON POINTBREAK EXPERT ADVISOR (Build Feb 8, 2008):
1) The new release fix lot-size problem on M cycle; which sometime set back to 0.01 if you accidentally change the period or restart your MT4.
2) There are additional 3 new parameters for M cycle:
M1_Lot_Multiply = 2;
M_Buy_Pos = true;
M_Sell_Pos = true;
Note:
A) By default M Cycle will open new positions with 2x bigger then C-cycle.
If you fill M1_Lot_Multiply = 1, M-Cylce will open new positition with lotsize same as C cycle.(you change this setting if you do not like the M1 Lot-size bigger than C cyles).
B) M_Buy_Pos (default true).
If you fill M_Buy_Pos = false, the EA will not open Buy Positions on M Cycle.
C) M_Sell_Pos (default=true).
If you fill M_Sell_Pos = false, the EA will not open Sell Positions on M Cycle.
When do we need to set the Parameter M_Buy_Pos & M_Sell_Pos toFALSE ?
You can set the parameter to false if you do not want POINTBREAK add positions to 1 direction.
For example:
You sure the EUR market will be uptrend in following weeks.
If you set the M_Sell_Pos to FALSE, it means you do not want the EA to open another SELL positions which cause additional drawdown really going up.
(The EA will not open SELL positions on M cycle until you set M_Sell_Pos to TRUE again).
IMPORTANT BEFORE YOU UPGRADE TO NEW RELEASE (BUILD ON FEB 08):
1) You need to check your Global Variables, the lot-size for M Cyclemust be the same with C cycle. If your C cycle opened the positions using 0.02, your M lot-size in global variable should be 0.02 too.
Please update your M lot-size.
2) After that restart the MT4. To download new release, go to this link:
http://www.forexhope.com
This new release will show (Build Feb 8, 2008) at your chart (Itwill be expired on June 2008).
I will send the updated EA for those who bought PointBreakEA (which locked to your account) this weekend.
And I will add facility for those who bought our EA: there will be special member area which you can get daily predictions on the market and suggestion on what should you do with your Pointbreak EAon daily/weekly basis.
We will have more facility (new trading system, really good trading signals, etc on our member area).
I hope Victor, our techical support will finish building our member area next month.
Best Regards,
Lin
http://www.fxhope.com
DISCLAIMER:
Trading in the off exchange retail foreign currency market is oneof the riskiest forms of investment available in the financial markets and suitable for sophisticated individuals andinstitutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this presentation is a recommendation to buy or sell currencies, FxHope.com and SwitchCapital Management are not liable for any loss or damage, includingwithout limitation, any loss of profit which may arise directly orindirectly from the use of FxHope.com and Switch Capital Management tools or reliance on such information. Past are not indicative offuture results.
Saturday, February 9, 2008
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