FRED EA - Demo Discussion

Just a bit of an update on this EA and the settings. That small drawdown early in the chart was caused by me closing all open trades as I had an updated version of the EA to upload to fix a few bugs. That small spike up in mid October was caused by me manually closing one trade that the EA missed closing. Out of over approx 7000 trades to date, and only one error by the current EA isn't too bad.

I ran the gain up to just over 70% using the same position size on both primary and subsequent entries. Obviously as the account size grew, my monthly percentage return appeared to decrease in size as it was basically still producing the same trade results with a constant position size. At that time, I then doubled the primary entry position size, and if and when the account gain reaches the 100% mark, I will then double the position size for the subsequent entries.

The largest drawdown at just over 37% was a little big for my liking also, but I can live with that. If anyone would like a free copy of this EA, or the basic version, just drop me a line and I'll get it to you. Below are a couple of videos I made re the basic version of the EA. Thanks.

Okay, just cracked the 100% gain, so time for a few modifications.

I have increased the position size on subsequent cycles first up.

I have also removed (or in the process of) the USD/JPY, EUR/GBP, AUD/NZD and NZD/USD. Either they were in trades way too long or their overall drawdown was too high.

I have also noticed that the EA missed another trade on the USD/JPY, which put the whole sequence out. I am now trading this pair manually until the current cycle closes, so you may see trades taken in some odd places. There was also a couple of trades on the AUD/JPY that I just closed in good profit, where the EA appeared to miss these also.

The EA is not perfect and will miss the occasional trade for whatever reason. I do check the trades every few days as they run on a VPS, and I can easily see if there is an issue with the sequence, where I can either just close all the relevant trades and let the EA start again, or I can switch to manual mode and place the trades myself. I have a simple spreadsheet that allows me to calculate profit targets etc.

I am trading this EA live on another account, but I also have two other trend following EAs running at the same time. Just trying it out on one pair first up (EUR), and the idea is that the trending EAs will have a larger position size, so if FRED gets away from me in a big trend against me, then these other EAs will hedge that potential loss, where I can either choose to let them all run their course, or close out all trades and reset all EAs where the trend following ones profits would cover FREDs losses. Still a work in progress though.

You can check out my site at www.accurateforextrader.com and if you would like an EA, just contact me and I'll get it to you. Everything is free, so this isn't a sales pitch. Cheers. Jim

Just another update. USD/JPY finally closed. AUD/NZD is also gone, and now just waiting on EUR/GBP and NZD/USD to complete their current cycles, and they too will be removed from the portfolio.

I have also increased the initial base lot size from 0.02 to 0.03 lots. Subsequent base lot size remains at 0.02 lots. I figure that I really haven't been using much of my margin, so I might just try and crank it up a little at a time.

I also now have a 'FRED EA - Live' account running here on MyFXbook, which is running pretty well the same as this demo account except my risk is a lot lower at the moment. I opened the live account with XEmarkets (Micro) with a leverage of 1:888 (which is great for this EA). I am still trying to work out my Grid sizes for each of the pairs as XEmarkets has some restrictions on where I can place stop orders etc. There was also the case of depositing $8500 and receiving $1670 in bonuses from them which throws the equity chart a little out of whack. Cheers. Jim