Tom'sEa WPFX LIVE (by TomsEaWPFXlive) Quick Stats
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Tom'sEa WPFX LIVE Discussion
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4XManager

Member Since Sep 23, 2010  4 posts 4X Manager (4XManager) Nov 15 2011 at 13:48
i think, thats enough. its a black box system and who wants to use an ea that at any day it uses a much higher lot size and probably blow out your accout... iam done

fughe

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 15 2011 at 15:56
There are enough new and hopeful people in the market that they will sell plenty of copies. My test account is currently up by about $20k and the drawdown is about $21k. How bad of a drawdown can you get??? From my experience, martingales drawdown alll the way.

Make losses, but always come out a winner at the end.
kishorejoga

Member Since Sep 12, 2009  313 posts kishorejoga Nov 15 2011 at 16:12
AGREE with you all,owner as to allow users to choose lots

lobotomy8

Member Since Sep 14, 2011  140 posts lobotomy8 Nov 15 2011 at 21:59

   fughe posted:
   There are enough new and hopeful people in the market that they will sell plenty of copies. My test account is currently up by about $20k and the drawdown is about $21k. How bad of a drawdown can you get??? From my experience, martingales drawdown alll the way.


I think the same. So, when and how this story ends up ?

fughe

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 16 2011 at 00:34
Well, I finally decided to kill the EURJPY pair. It looks like we are in for a few hundred more pips to the downside and it started opening some big lot sizes far too closely spaced. So, I bit the bullet and killed the trades. Altogether, the loss was in the order of about $15,000 on the EURJPY pair ONLY.

Some of those trades were in excess of -600 pips.

So......one month.....all 6 pairs gained $20,000 and one pair that started trending strongly wiped out $15,000, and it would probably have been much, much more if I had let it run.

Please be exceedingly careful if you run this system. Use the absolute lowest possible risk you can if you are going to use it!!

Final note....make sure you are prepared to lose ALL of the money in the account you put it on. Martingale systems are well known for blowing accounts.

Make losses, but always come out a winner at the end.
fughe

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 16 2011 at 00:39
Also, i would like to add......DO NOT fool yourself into thinking that you will let it run and watch for it to keep it from getting into a big drawdown. Martingale systems are well known for getting into big drawdowns before you realize how bad it actually is. By the time you realize that the market is in a hardcore trend, the DD will already be half your account. New traders....you have been warned.

Make losses, but always come out a winner at the end.
fughe

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 16 2011 at 15:33
One other thing, minimum risk is apparently using 1:1 leverage. i say that because on a $40,000 account, it is opening 0.4 lot positions

Make losses, but always come out a winner at the end.
lobotomy8

Member Since Sep 14, 2011  140 posts lobotomy8 Nov 16 2011 at 15:41

   fughe posted:
   One other thing, minimum risk is apparently using 1:1 leverage. i say that because on a $40,000 account, it is opening 0.4 lot positions


Not exactly, it is true probably up to 100,000 account. After that it increases lots, e.g. for the account of 200,000 it starts trading with 2.4 or 2.5 lots. I'm talking about 2% risk set up. Fughe, you probably mentioned 1% risk, didn't you ?

fughe

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 16 2011 at 15:46

   lobotomy8 posted:
   
   fughe posted:
   One other thing, minimum risk is apparently using 1:1 leverage. i say that because on a $40,000 account, it is opening 0.4 lot positions


Not exactly, it is true probably up to 100,000 account. After that it increases lots, e.g. for the account of 200,000 it starts trading with 2.4 or 2.5 lots. I'm talking about 2% risk set up. Fughe, you probably mentioned 1% risk, didn't you ?


Yeah....that's where the 'minimum risk' statement enters in. grin

Make losses, but always come out a winner at the end.
fughe

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 16 2011 at 23:27
Wow....I am using minimum risk on 4 pairs now....and I have a 50% drawdown on my account.

Make losses, but always come out a winner at the end.
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Harmonised Index of Consumer Prices (YoY... (54 min)
Emerging Markets Break Out(6 min ago)
EURUSD 1.31806 GBPUSD 1.65908
USDJPY 103.704 USDCAD 1.08582
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