Description of Midnight EA

[Eroll ZachSpectator]

@traderfx13 wrote:

I started running a BT on EURCHF M15 with the preset that was posted with the latest 2.4 version but I stopped it since I noticed large losses versus small wins. Running with fixed 0.01 lots the Largest loss is -4.86 and the average win is 0.36 making for a R/R ratio of 13.5:1! To me that is unacceptable. It is worse than the original 10:1 in V 1.0. Any ideas?

Maybe try a backtest on 30M since the EA won’t work on any other timeframe?!

Also, no backtest will be able to consider the news. Will be impossible to know which trades EA wold take in real world, and many of them, wins or losses, will be filtered by news.

@mayamak wrote:

Some brokers like LMAX prepeared it’s system for night traders. They are charging swaps when most of Night EAs are starting it’s work.

So you are saying LMAX will charge swaps before new day starts? I don’t think i saw any other broker doing that.

[calixtoSpectator]

@mariusz wrote:

@mayamak wrote:

Some brokers like LMAX prepeared it’s system for night traders. They are charging swaps when most of Night EAs are starting it’s work.

So you are saying LMAX will charge swaps before new day starts? I don’t think i saw any other broker doing that.

I asked support about this 5 minute freeze. Below is their answer:
@LMAX support wrote:

“We close for 5 minutes each day to perform system maintenance, so that we can provide a better services.”

[Eroll ZachSpectator]

@mayamak wrote:

I asked support about this 5 minute freeze. Below is their answer:
@LMAX support wrote:

“We close for 5 minutes each day to perform system maintenance, so that we can provide a better services.”

That should not be related with swaps though. Midnight EA opens trades around 10-11 PM at night. You will experience swaps if a trade is opened and not closed before midnight. If LMAX close everything for 5 minutes, i guess EA won’t trade anyway.

[calixtoSpectator]

@mariusz wrote:

@mayamak wrote:

I asked support about this 5 minute freeze. Below is their answer:
@LMAX support wrote:

“We close for 5 minutes each day to perform system maintenance, so that we can provide a better services.”

That should not be related with swaps though. Midnight EA opens trades around 10-11 PM at night. You will experience swaps if a trade is opened and not closed before midnight. If LMAX close everything for 5 minutes, i guess EA won’t trade anyway.

Yes, but if you look closer to opening hour of 2 trades on my screenshot you will see that Midnight opened trades 6 sec. before 21, after those 6 sec. LMAX freezed quotation and added swaps on opening

[Eroll ZachSpectator]

Well… i assume Dominik could add some trading hours options, but not sure how much would help on long term. You can save a few cents on swaps and lose a few dollars on a trade. I get swaps on all trades carried form one day to another. I am not worried about swaps but more about getting less and smaller loses.

[calixtoSpectator]

@mariusz wrote:

Well… i assume Dominik could add some trading hours options, but not sure how much would help on long term. You can save a few cents on swaps and lose a few dollars on a trade. I get swaps on all trades carried form one day to another. I am not worried about swaps but more about getting less and smaller loses.

Yes, you are right, this is very small thing, and it’s not very important, those swaps are small but can be annoying on longterm when your trade is opening with commision and swap at the same time. It’s nothing important to add, but we are here, as kind of beta-testers on this forum, to report everything what is wrong or can be improved.

[MaksgaufSpectator]

Hi Dominik – back tests with 2.4 look great with the custom .set files.

I did notice that on June 23 2016, the EA placed 16 trades in a matter of seconds – most were 0 seconds to 1 minute.

As a safety mechanism, would it be possible to code a ‘Max number of daily trades’ parameter so we could limit the EA placing multiple trades if the market started doing erratic swings?

It didn’t make a loss of the day, but I’d feel a lot better if I knew what my max trades per day were going to be, and my potential max stop loss.

Many thanks – this EA is looking amazing, and working just as well in the live accounts I have trading EURCHF and USDCHF with the set files. The news filter is brilliant (not as brilliant as your EA though 😆

[MaksgaufSpectator]

Dominik – one more question…

With the pairs outside of EURCHF and USDCHF that have no .set file for version 2.4, do you recommend not trading these, or try trading using default settings? I know you put a lot of work into optimising the settings for the 2 set files provided, so is it worthwhile not trading the other pairs until optimisation has been completed?

Can I help with optimisation at all – PM me if you want

[AlexToDJSpectator]

Backtesting results with new version on EURCHF look very promising. But USDCHF not so much – still a large average loss size.

[norrbaggenSpectator]

I believe this EA is a Beast when properly optimized. There are so many variables right now it is mind blowing and takes a long time on real tick data. I´m sure it will be worth the invested time and resources

[DominikAdministrator]

@traderfx13 wrote:

I started running a BT on EURCHF M15 with the preset that was posted with the latest 2.4 version but I stopped it since I noticed large losses versus small wins. Running with fixed 0.01 lots the Largest loss is -4.86 and the average win is 0.36 making for a R/R ratio of 13.5:1! To me that is unacceptable. It is worse than the original 10:1 in V 1.0. Any ideas?

Simple. Midnight doesn’t work on M15.

Guys, thanks for all posts. I’m still optimizing another (and also those ready) pairs. I consider all your comments and ideas, I test them and if it improves anything I implement to EA.

What about hours of opening orders – it doesn’t make sense to change them, because Midnight won’t work.

mayamak, hidden stops are removed from parameters and they are placed now only by algorithms of Midnight. I used visible/hard stops in new version that are placed automatically by EA after opening order. You can always override them, but I don’t recommend to do it. P.S. In current version you can disable info panel to synchronize Midnight with MQL VPS. Also you can disable time verification ad saving logs.

4xlee, I’ll check it. For now, to avoid opening more trades in one day per pair you can set “Limiting Method” to “Allow only one order per day”.

New parameters and filters that I added are based on price action and similar techniques. There is also volatility filter based on proportion between range reached and sizes of candles.

In attachment you can find set file for AUDCAD.

[AreshSpectator]

Hello, I have bought the Midnigtht in MQL is running in real with 0.01 lots and is gaining something.
I have the Midn. 2.3b in a demo account and is giving better results with news filter.
I have to install 2.4 and new .set later I will comment my impressions.
Thanks to Dominic for continuing to work and improving the EA, and good luck to everyone

[muczikaSpectator]

Hi Dominik,

Keep up with the good work! I have been following since day one and I just halted trading temporarily because I’m a waiting I for a a stable update. I would recommend you use currency strength meter also in filtering out bad trades. High probability of winning if a strong currency is pair to a weak currency. You don’t want to be trading against a strong currency when it’s universally strong across board.

[norrbaggenSpectator]

I want to share my one of my optimizations here. I only used pairs with good profit potential in this one. I do have another set that does only very safe trades but doesnt trade very often.

There are two set files for EURCHF and USDCHF, one with lower risk and one with higher.
The higher one can go into drawdown but should be easily outweighted by the profits.
Personally i use both of them so i have an overall of 14 charts.

For ECN Broker i would recommend a max spread 25 – 30.

Yesterdays trades:

[MaksgaufSpectator]

Thanks Steven – these are great. nice work

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