Spider EA USDCAD real Discussion

Is this a cent account or Standard?

It is a cent account.

is the SL hidden? what is the hard sl?

   sbecike posted:
   It is a cent account.

If it is a cent account how does 0.13 lot 30 pips make $39.31?

   enjoytrade posted:
   

   sbecike posted:
   It is a cent account.

If it is a cent account how does 0.13 lot 30 pips make $39.31?

The data the Metatrader sends to MyFXBook is recognized by the MyFXBook servers as dollars. This is regular in case of cent accounts I think in case of MyFXBook, but this is what the support guys here might be able to confirm. I wish it was not a cent account though :-)

   sugarboy7 posted:
   is the SL hidden? what is the hard sl?

The EA is using hedge function instead of SL. This means that whenever the market is against the EA, instead of applying an SL, it uses hedge trades to decrease drawdown. You can read about this function in the spider ea website (https://www.spiderea.com), where you can also find backtests so you can make sure about how the EA uses hedges as a security feaature.

i understand that strategy but what happens during rapid movements against your hedge direction? this happens and thats when this sort of EAs fail. u need to add a hard sl as a safety net. see 'forex flow' for reference. that is my only certain with this EA, otherwise it looks good.

rapid movements happen all the time, unexpectedly as well.

SL is something we've just put into the EA. It'll be published during the weekend. The customers can freely decide whether they use SL or hedge. I have my personal opinion, but it really depends on the user, his / her trading style.

with the hedge setting, what happens if the trend goes against the trade. ie. if usdcad goes up 650 pips to its previous high of 1.06? I want to know how the EA handles trending markets that goes against its trade. will the EA ever cut its losses or just keeps adding to losing trades up to 20 trades? i read that maximum open trades are 20. I guess we will have to wait and see how this EA handles such situation.

Actually in the past roughly 3 years, there was 1 occasion when such thing happened, somewhere in September / October 2011 (it was not that far). I'm using this EA on my personal account also and I was in that trade. My risk level was around 33 (0.1 lot per trade if the balance is 30,000 USD ==> I use it on cent account). The EA survived it. At that time, there was no hedge function built into the EA, in fact this was the point when we decided to implement hedge into the EA. If you go to the official website of Spider EA and navigate into the Results tab, you'll see 2 backtests, 1 with an other one without hedge. Both survived that peak, but the hedge function decreased the DD significantly.
However, you can maximize the number of trades, that's something users can set up in the EA properties.
You can use hedge, but that's also optional.
You can use stop loss mode, but it's optional too.
There are plenty of security options against trending market. My personal opinion is that hedge is the most effective way against trending market, but this is only my opinion, I don't urge anybody to do so, because trading behavior, risk appetite may vary among users, everybody has to decide on his/her own risk management and security tool against trending market and the EA offers plenty of them.

SpiderFX,

Compliments to you job well done.
Keep up the winners.

Happy Trading,

cwave😎

Thank you :-)
Same to you!

Any word on the update to Spider 1.4. I thought it would be this last weekend.
Could be I missed it.


cwave

Hi,

It was sent out on Sunday, at 14:33 CET. Can you please confirm?

Regards,
Support

No I checked everywhere and couldn't find it. Could you please resend.
I wish you guys weren't giving up on this EA I think it's one of the better ones out there.

Thank You for Your Help,

cwave

Hi,

We resent it to you.

Regards,
Support

Nope nothing,
I sent you an e mail also did you receive it?


cwave

Yes, I answered it...