Autosafety on GK - On or Off?

Applepine

Climbing the Trader's ladder
With regards to:

AUTOSAFETY SETTINGS:
  • AutoSafety Options: Here you can set HOW the EA will act when historical max DD is reached. There are 4 options:
  • A) do not use autosafety;
  • B) Close the grid when Max Loss is hit.
  • C) Use Trailing TP Closing Algorithm. (See Trailing TP Closing Settings)
  • D) Hedge grid when max loss is hit and stop trading the pair. (See Hedge Breakdown settings)
  • E) don't close or hedge, but show a warning to the user
  • AutoSafety Value, per 0.01 lots (0=use optimized value): This will overide my default optimized Max Loss values when using the Autosafety. You can set the value here that you want to use.
  • Allow autosafety extra room (in% 0-100) before triggering closing of grid: this will give the autosafety grid closing some extra room. So if the autosafety would normally close the grid at 1000$ equity DD, and you put in this parameter "20", it will close the grid at 1200 instead of 1000$.
  • Run Strategy 1 when using autosettings: enable strategy 1 when running autosettings
  • Run Strategy 2 when using autosettings: enable strategy 2 when running autosettings
  • Portion of Balance to use (0-1: percentage; >1:fixed $/€ amount): Here you can limit the portion of balance to be used by the EA. A value between 0 and 1 (for example 0.5) will use a percentage of the balance (this case 50%). A value bigger than 1 will be used as absolute value (so a value of "10000" would mean the EA will use 10000$/€ from your account for the EA)
I am very happy Wim has included this in his EA...but for this guy, it's a NO GO for Autosafety settings (n)
The reason being that I would MUCH rather disconnect Grid King, and then trade manually until I can close it.
This could also include a hedge, but then it's MY hedging strategy...one I know and control.

How about you @whisquer ?
 

Splash

Climbing the Trader's ladder
I've tried the hedge a few times and don't want to go through that one again....

I know this is not the usual course of action as you always feel the NEED to do SOMETHING...but in both cases I've had this with Grid King, I just disconnected it...and let it roll. When it was back in the zone, I turned GK back on...and it closed it eventually. This whole cycle lasted about 4 months...it was grueling 🥺...but, no losses 🤩👍
 

whisquer

Forex Eminence
I've tried the hedge a few times and don't want to go through that one again....

I know this is not the usual course of action as you always feel the NEED to do SOMETHING...but in both cases I've had this with Grid King, I just disconnected it...and let it roll. When it was back in the zone, I turned GK back on...and it closed it eventually. This whole cycle lasted about 4 months...it was grueling 🥺...but, no losses 🤩👍
It is so heartening to hear 'war stories' from battle-hardened soldiers like you. I've also gone into GK auto-hedge for a few pairs during the March-April Covid timeframe and it wasn't pretty. Basically the auto-hedge is the equivalent of a stop loss paid out over 25 days' installments with the hedge mechanically part-closing at 22h (default) whether it makes sense or not.

I feel like if there is inherent value in the underlying currencies (and there almost always is in peacetime that is), and if I stay chiefly within the major or minors (but not exotics), then it may be better to let the grid run (within leverage + margin requirements). I watch leverage and margin very carefully during difficult times on GK through use of certain indicators - which I will now write about for my next 'blog' piece.

Thank you for your thoughts and contributions!
whisquer
 
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whisquer

Forex Eminence
With regards to:

AUTOSAFETY SETTINGS:
  • AutoSafety Options: Here you can set HOW the EA will act when historical max DD is reached. There are 4 options:
  • A) do not use autosafety;
  • B) Close the grid when Max Loss is hit.
  • C) Use Trailing TP Closing Algorithm. (See Trailing TP Closing Settings)
  • D) Hedge grid when max loss is hit and stop trading the pair. (See Hedge Breakdown settings)
  • E) don't close or hedge, but show a warning to the user
  • AutoSafety Value, per 0.01 lots (0=use optimized value): This will overide my default optimized Max Loss values when using the Autosafety. You can set the value here that you want to use.
  • Allow autosafety extra room (in% 0-100) before triggering closing of grid: this will give the autosafety grid closing some extra room. So if the autosafety would normally close the grid at 1000$ equity DD, and you put in this parameter "20", it will close the grid at 1200 instead of 1000$.
  • Run Strategy 1 when using autosettings: enable strategy 1 when running autosettings
  • Run Strategy 2 when using autosettings: enable strategy 2 when running autosettings
  • Portion of Balance to use (0-1: percentage; >1:fixed $/€ amount): Here you can limit the portion of balance to be used by the EA. A value between 0 and 1 (for example 0.5) will use a percentage of the balance (this case 50%). A value bigger than 1 will be used as absolute value (so a value of "10000" would mean the EA will use 10000$/€ from your account for the EA)
I am very happy Wim has included this in his EA...but for this guy, it's a NO GO for Autosafety settings (n)
The reason being that I would MUCH rather disconnect Grid King, and then trade manually until I can close it.
This could also include a hedge, but then it's MY hedging strategy...one I know and control.

How about you @whisquer ?
I had already turned off the "Hedge at Max Loss" and "Hedge at TrailTP" for some time; but left the other settings at default. This would mean "Use Trailing TP Closing Algorithm" would continue to be active; and I was starting to feel a little discomfort around having this on. I actually think I'll go ahead with "Autosafety Off" and then make calls on what to do closer to the event. Thank you for your contribution!
whisquer
 

Applepine

Climbing the Trader's ladder
I had already turned off the "Hedge at Max Loss" and "Hedge at TrailTP" for some time; but left the other settings at default. This would mean "Use Trailing TP Closing Algorithm" would continue to be active; and I was starting to feel a little discomfort around having this on. I actually think I'll go ahead with "Autosafety Off" and then make calls on what to do closer to the event. Thank you for your contribution!
whisquer
My pleasure @whisquer 👍
 

whisquer

Forex Eminence
I've tried the hedge a few times and don't want to go through that one again....

I know this is not the usual course of action as you always feel the NEED to do SOMETHING...but in both cases I've had this with Grid King, I just disconnected it...and let it roll. When it was back in the zone, I turned GK back on...and it closed it eventually. This whole cycle lasted about 4 months...it was grueling 🥺...but, no losses 🤩👍
Hi Splash

Is there a step-by-step guide on exactly how this will work? For instance only:

A. You see the grid building and nearing the 'Max Loss' numbers, but you have Autosafety for Trailing TP turned on and are using the default settings. But you have Hedge at Max Loss left on 'True' in the settings.
B. You decide that the grid is getting close to the Max Loss and simply 'remove' or 'inactivate' the EA for that particular pair.
C. You wait until the numbers come back into the safety zone before you turn on the EA again...?

I think that the risk with this approach might be - that if you have a 'runaway' pair, you might run out of leverage even as you hold the open positions (for say, up to 4 months). For instance, for the NZDCAD pair, or for that matter anything outside the major pairs, I would only get 1:100 rather than my usual 1:200.

If the steps are other than the above (e.g. C. does not apply, you simply manually trade that pair to try and recover it) - please shout!

I am trying to get a viable 'Hail Mary' approach to GK and would like to understand it before I get there - thanks ever so much
whisquer
 
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whisquer

Forex Eminence
I've tried the hedge a few times and don't want to go through that one again....

I know this is not the usual course of action as you always feel the NEED to do SOMETHING...but in both cases I've had this with Grid King, I just disconnected it...and let it roll. When it was back in the zone, I turned GK back on...and it closed it eventually. This whole cycle lasted about 4 months...it was grueling 🥺...but, no losses 🤩👍
Or maybe another way is to start playing with the 'Max Loss' settings by Changing the 'AutoSafety Value, per 0.01 lots' setting to something that would work to bring the Max Loss number to the desired level to give the grid more breathing space?
whisquer
 
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