Forex EA Robot Trading Blog

Q.

What would you say are the optimum settings for v.5? What settings do you
use, if you don't mind me asking?

A.

I use the default settings, and automatic lot sizing on just GBPJPY. Sometimes i see a pair is undervalued and get into that one for a bit. Ive been tracking AUDCAD and the range is pretty small, so in a case like this you would need to change the gridmesh and trailing stop to match each other (in this case to 15 due to very tight range).
The key to safe trading for me is to find pairs that are ranging/undervalued, find the right timeframe, and limit your risk via the positions open. Then you can focus on collecting that swap.
If you had the patience it would be great to stick on a pair for a few years, and collect positions throughout the entire market range of values, sort of spinning a spider web that produces interest payments.

Q.

Have you heard any negatives about IBFX? I would definitely switch brokers
if it would be best.

A.

I have heard negatives about all brokers, but my experience with them was fine, and i have some friends that use them with no complaints. They are pretty good, in my personal opinion.

Labels: Carrygridv5, IBFX, optimum settings

I currently have a live mini account with IBFX. Is there any broker that would be better to trade the CarryGrid EA? Any recommendations?

Ive been trading with fxdd (i am not an IB this is a straight link) for the last couple of years with no major issues running the EA (although they did screw up my account once but they put it all back). I wouldnt commit major funds (>100k) to these brokers unless they are goverment backed in case of another refco type disaster. I am not aware currently of any brokers that support MT4 that are goverment backed.

Labels: broker, Carrygridv5

Q.

I have version 5 installed on 2 IBFX charts (EUR/JPY and USD/CHF) in mini account with a $3000 balance. The version 5 default settings came up as GridMesh 50, GridMaxOpen 30, minFromPrice 6, and Risk 1.In the FAQ section it states "This is how many orders will be placed. As a rough guide, gridmesh / gridmaxopen gives you a risk ratio,. So at a setting of 50, using 10 orders, the ratio is 5. This is a safe level to run the EA at. Generally it is good to make sure your risk ratio is above 3, unless you have a clear understand of the state of a given pair." The default settings give a ratio of 1.66Is this ok? or should those settings be different? Also, is it ok to trade two pairs at the same time ? If so, how do I adjust the settings?

A. Good questions. The FAQ was last updated for v4, and with version5 it is impossible to have that many open drawn down positions anymore, i have not seen more than 3 drawn down positions at a time, and usually its 2 or 1. So the maxopenpositions is not likely to be hit. The FAQ needs updating. You can set GridMaxOpen to 5 and i doubt it will make any difference in v5, except for extremely strong run-ups, where you want to take on all the positions you can.Yes its ok to trade 2 pairs at the same time, as the EA will look at available margin when determining lot size. If you have overridden the lot size manually, then be much more careful that you are not eating up too much margin.

Labels: Carrygridv5, default settings, FAQ, GridMaxOpen

Q.
I am Running now both EA on a testaccount. The CGv4 is nunning better now...But it is more risky did I understand that right? The v5 takes profit much time before the v4 right? I that the only difference? And what are the detailed settings for take profit on v5 and v4?
A.
The CGv4 is more risky, with a correspondingly higher reward, as it does not have a trailing stop feature. v5 will do better in ranging/bearish markets (smaller drawdown, profit during ranging periods), but not collect huge profits during a run up (as during retracements positions will be closed out). v5 can be made to run more like v4, by modifying the trailing stop value, or turning it off altogether. this will give your trades more room to breathe.
v4 will close out trades when the TREND changesv5 will closeout trades when either the trend changes, or we are in profit enough to have activated the trailing stop, so the trade will be stopped out (in profit)

If you look at the online statement you will see the equity curve with v5 is quite linear.
A potential change for the future is to modify this trailing stop value to reflect the current market conditions, so during ranging periods it would tighten, during trending periods up widen, and during trending periods down, possibly tighten again.

Labels: CarryGrid EA, Carrygridv5, Closing trades, v4, v5

The version of the carrygrid running on the server is going to be updated today, to be version5, with the trailing stop feature activated at 50 pips. This is a bit like adding extra wheels to a car - it will mean it cannot reach top speed, but it has better stability. This will help reduce drawdown, and provide profits in ranging markets, but upwardly trending markets will not profit as much as in previous versions, as the number of positions will be reduced.

Labels: Carrygridv5, trailing stop

A new version of the CarryGrid is now ready, version 5. the two key improvements with this version are;

1. Improved comments to indicate what the EA is 'thinking'
2. A trailing stop option to lock in profits, rather than closing out on a trend reverse. This works very well especially in ranging markets, but also will work in trending markets. It will also help reducing the number of positions open when the price goes against the trend.

This version and future upgrades is currently available to subscribers only, but will be rolled out to all existing members over the next few weeks.

Labels: Carrygridv5, EA