Sonntag, 15. Dezember 2013

Setup Tips & Common Mistakes - Monkey Business EA

You can buy this EA directly from me and get a little discount or from MQL5 Marketplace.

On this page you will find setup tips and learn how to avoid common mistakes.

General tips:

  • all pip values like take profit are to be put in as you would do on a 4 digit broker
  • if you don't want to use staking plans (increasing/decreasing lot after winning or losing), don't forget to set multiplicator back to 1 and staking_method to reset after win (only necessary if you changed it before)

Money Management:

  • Risk can be a very low value. If you set it to 0.0005 and have 10000 in balance, your initial lot will be 0.05. 
  • Of course minimum lot will always be 0.01.
  • maxLot should either be the limit your broker sets or the maximum lot you want the EA to trade.
Trailing Stop:

  • Trailing stop functions similar (with some small changes) to the trailing stop explained in this video: 


Staking Plans:
  • Multiplicator can of course also be used to decrease the lot to be traded when you set it below 1

Martingale:
  • Martingale Take Profit only kicks in, when a martingale trade is opened. However it is not obligatory to use it if you want to use e.g. Trailing Stop instead - Set to 0 in this case
  • PipGap determines the risk you want to take with the dynamic martingale. 1 is the lowest value and also means the greatest risk and presumably greatest profit. I usually optimize this parameter between the values 1 to 10.
  • Even though it is not necessary, re-entry level should always be a higher value than PipGap. I usually optimize this parameter from 10 to 100 with steps of 10, or 20 to 200 with steps of 20.

Common mistakes:
  • setting up the short moving average with a higher period than the long moving average does not make sense for the trading logic, therefore I coded it to fail initialization in those cases
  • a pipGap lower than one is not allowed to set up either (when using martingale)

Sonntag, 24. November 2013

Monkey Business EA

Monkey Business Expert Advisor

No Monkey Business - Guaranteed
This Expert Advisor gives you the tools to successfully earn money in the Forex Market. You can choose between multiple indicators to enter and exit the market, filter bad market states or confirm the signals of your main indicator in a higher time frame. You can simply attach the EA with default settings to your chart or create your own system with normal entries and exits, use a staking plan or choose dynamic martingale. You will easily be able to set the EA up to reflect your own risk aversion.
Please see the detailed settings description below to comprehend the full potential of the EA.
For optimization results and setting files for different brokers and timeframes, please visit this page monkeysystems.blogspot.de/settings
Customers can also always ask me for different indicators or entry & filter rules to add to the product. I will add them for free if possible.

This is not a hocus-pocus tickdata EA that requires you to have an ultra speed VPS Server and creates billions of dollars profit in backtesting. Every calculation is solely based on closed candle OHLC values. That's why the EA only trades on closed candle and testing can be done with OHLC. You can optimize with Custom Max which will show you the maximum relative equity drawdown or your chosen parameter in the results table.

Detailed settings description:

Please see the MQL5 Market Page for detailed settings description and to download demo version for backtesting.

For Optimizing results and settings have a look on this page.
For setup tips look on this page.

Price: 225,00$ - please contact me for further details or buy from MQL5 market:
Buy Monkey Business EA v2 Expert Advisor in the store selling algo trading systems

There are also demo signal available:

Monkey Business EA - Settings & Optimization

You can buy this EA directly from me and get a little discount or from MQL5 Marketplace. Please visit the following page for setup tips and common mistakes.

On this page I will share with you optimization results and the respective setting files. I will continually add new results and setting files.

Default settings are to be traded on EURUSD, M5.

You are also free to share your findings with me to help other users, as I cannot test all different brokers. I will publish the results here.

1. Testing martingale using Breakout Window entry signal and trailing stop loss. (MetaQuotes, EURUSD from 01.01.2013, M5, 10000USD) - Download settings files and results table here.


2. Optimizing martingale, entry signals, filter signals and trailing stop. (MetaQuotes, EURUSD, 01.01.13, M15, 10000USD) - Download settings files and results table here.



3. Optimizing martingale, entry signals, filter signals and trailing stop. (MetaQuotes, EURGBP 01.01.13, M15, 10000USD) - Download settings files and results table here.


4. Optimizing martingale, entry signals and filter signals. (MetaQuotes, USDJPY 01.01.13, M5, 200USD) - Download settings files and results table here.


Monkey Divergence - Settings and results

This EA works best in higher time frames, like H1 or H4. Default settings of the EA are optimized settings for MetaQuotes Demo Server on EUR/USD H4.

I will post settings for different brokers and optimization results here:

MetaQuotes Optimization with Trailing Stop Loss - mainly positive results starting from 01.01.2013:

MetaQuotes - Optimized Settings:

EURUSD H4 - Trailing Stop

EURUSD H4 - Fixed SL&TP

Alpari - Optimized Settings:

EURUSD H4 - Fixed SLTP

EURUSD H4 - Trailing Stop

Roboforex - Optimized Settings:

EURUSD H4 - Fixed SLTP

EURUSD H4 - Trailing Stop

This is just the optimization of the SL, TP & TSL settings. There are surely a lot of good settings to find with optimizing indicators and other timeframes.

You can always share settings with me and I will put them up here. Don't hesitate to contact me.

Also, you can improve results by increasing the risk.

Please always bear in mind that past performance does not guarantee future profits.

Samstag, 23. November 2013

Monkey Divergence - Price/Stochastic Divergence EA

This EA searches for highs and lows of the symbols price and compares those to the highs and lows of the stochastic indicator. If a Divergence is detected the EA enters the market when Moving Average and ADX indicator confirm the signal.

When a trade is lost, the EA is able to increase the volume to trade with for the next trade.



Setting description:
Setting Description
 Risk
  • Only applies if Automatic Money Management is used;
  • Describes the percentage of free margin allowed for a trade;
  • Leverage and Balance affect your initial lot;
  • Please Note, settings like 0.1 are allowed too.
 Multiplicator
  • If previous trade closed in negative, lot for next trade will be multplied by the chosen value;
  • Set to 1 to disable;
  • maxLot will constrain the traded volume.
 SL/TP
  • Set to 0 for no SL/TP.

Price: 60,00$ - please contact me for further details or buy from MQL5 market:




Buy Monkey Divergence Expert Advisor in the store selling algo trading systems

About Monkey Systems

I am a MQL5 programmer putting my trading ideas into automated systems.

You can buy the EAs provided here directly from me or from the MQL5 website and also have me automate your own ideas.

If you have questions or ideas that you need to be coded please dont hesitate to contact me via email or over at my MQL5 Profile.