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FRWC HiRider Advanced Demo Discussion
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Member Since Apr 10, 2010 24 posts
Cheng King Xiang (kinggy)
Apr 16 2010 at 16:03
HiRider Advance is built with 210pips stop-lost is not recommended. This is because:
1) 10 Trades waiting to close at 210pips stop-lost might take days or even weeks. By default, trades are limited to 10 for safe trading. New opportunity trades are missed. 2) 210pips stop-lost versus 12pips take-profit is a loosing game for trading in long term. 3) this EA uses scalping for trading. 10 trades might open at different pricing, hence all trades close at different pricing. Some trades profit and some might not when not hitting the 12pips take-profit. Unfortunately, HiRider Advanced does not come with stop-lost settings. Trade with Proper Money/ Risk Management |
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Member Since Apr 10, 2010 11 posts
Shaun Kennedy (shaunieok)
Apr 17 2010 at 04:24
Yes...FRWC does need to improve this robot...i normal trading situations...not like the gap up we had on monday...this robot is pretty good...i have cut it's trades back to 5 with smaller lot sizes.
shaun |
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Member Since Apr 10, 2010 24 posts
Cheng King Xiang (kinggy)
Apr 17 2010 at 08:05
shaunieok posted: Yes...FRWC does need to improve this robot...i normal trading situations...not like the gap up we had on monday...this robot is pretty good...i have cut it's trades back to 5 with smaller lot sizes. shaun Hi Shuan, If FRWC team ain't doing anything to improve on the HiRider Advance, I think MT4 script should be able to help to control trades. I'll be Google for a solution on this. My suggestion is to close trades manually for now if HiRider Advances already hit the 10-20pips losses. it's not advisable to wait for it to close at 210pips even you have only limit to 5 trades for trading. HiRider uses scalping, my recommendation is to use a brokerage with lowest spread and a reliable platform with minimum slippage problem. I'm currently using BeamFX, so far so good. 
Trade with Proper Money/ Risk Management |
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Member Since Apr 10, 2010 11 posts
Shaun Kennedy (shaunieok)
Apr 17 2010 at 15:45
I'll look into beamfx...it's hard to find a good broker these days...they all seem to have their own different issues, from large margins to large spreads..thx
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Member Since Apr 19, 2010 14 posts
ctmac
Apr 19 2010 at 03:08
I am using Advanced Hi-rider on l$1000 live account with FXCM with good results and no loosing trades. Account up $33 after two weeks of trading. Low risk is the key with this very accurate robot.
Pips baby |
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Member Since Feb 20, 2010 50 posts
eafinder
Apr 19 2010 at 05:06
Low risk? Risk reward of 20:1 and you call it low risk? It's almost certain you won't survive trading with this robot for a long run. At best, you will just break even.
Trade price extreme in 5 minute chart using any technical indicator with the same risk reward as HiRider Advanced, and the result willl be the same. For example, when price hits the upper bollinger band in 5 minute, short with TP 12 pips and SL 210 pips. Or when RSI hits 80, short with TP 12 pips and SL 210 pips. This kind of simple technique can be coded in MQL in less than 30 minutes if you study the language a little bit. And you don't need to pay $1000. |
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Member Since Apr 10, 2010 24 posts
Cheng King Xiang (kinggy)
Apr 19 2010 at 06:03
eafinder posted: This kind of simple technique can be coded in MQL in less than 30 minutes if you study the language a little bit. And you don't need to pay $1000. Agreed, I think for an EA that costs USD1K might not worth a value for a simple EA like you have described. I cannot commend how HiRider Advanced is coded since I'm not able to access its code. FRWC did try hard to provide good support where possible, I think they need 10 times better to recover the price for we pay for. A standard price for most EAs(and maybe some good ones) cost less than USD100 each. Perhaps the price of USD1K a member paid is for the 10 different EAs and maybe more in the future. For me, quality EA counts and not quantity. All I look for FRWC to improve the version of Fusion, to make it more robust and trade more conservative for small account holder. We all know, a higher risk-reward is not recommended for long run but with proper risk adjustment should fix the issue easily. Trade with Proper Money/ Risk Management |
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Member Since Apr 19, 2010 14 posts
ctmac
Apr 21 2010 at 01:50
Hi rider is design to take low risk trades. the lot size is my choice at 0.01. Looking at the current state of Hi rider on today, it is performing very well on automatic. As for the $1000 price tag, it is worth every penny as I just download the new update and man it is scalping the hell out of the market. My $1000 will be made up in two weeks with this update.
Pips baby |
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Member Since Apr 19, 2010 14 posts
ctmac
Apr 21 2010 at 01:53
My broker is FXCM and IBFX
Pips baby |
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Member Since Feb 27, 2010 30 posts
bguguen
Apr 21 2010 at 03:16
Please do not get put off by this robot, if this IS the HiRider Advanced id recommend you do a Backtest of different settings first, apparently HiRider makes these sort of mistake at the beginning of the system running i have had this problem, but in the long run (im talkign bout a year or 2) you will be seeing quite an extreme win.
oh and dont use Fixed Lot. No variable winnings will only make you lose more Bot or Not, Profit is the Name of the Game! |
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