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

Member Since Aug 23, 2011  12 posts canadianpsycho Nov 17 2011 at 08:08
How large is your account?

canadianpsycho

Member Since Aug 23, 2011  12 posts canadianpsycho Nov 17 2011 at 08:08
Oop, sorry. Didn't read previous posts.

fughe

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 17 2011 at 22:52
Alright......To give the new traders to the market some perspective on the insanity of martingale drawdowns..... Today the market was bound in a fairly tight range and closed almost exactly where it opened. I had 4 positions closed today, all on the USDCAD pair for a total of about +$500. During the market craziness my drawdown fluctuated tremendously. At the lowest point of the day, I had a DD of approx -$8,000 , and the DD is currently at about -$18,000. So....the drawdown fluctuated about $10,000 throughout the course of the day. This is minimum risk.....4 pairs (eurusd, gbpusd, usdcad, & eurgbp). The account started at $40,000 a month ago, and is now just short of $50,000. At no point in time has the DD ever been low enough that I could close out all positions and be above my initial deposit amount.

Please, understand that this system WILL tax your account to the maximum limit until it blows your account. All it needs is one solid trend on a single pair. Trends are not very common at the moment, but eventually, the market will start trending again. At that point in time, Whatever pair hits the big trend will be the one to wipe your account clean. It only takes one pair to do it. By the time you realize you are in a solid trend that isn't going to pull back enough to close out without a huge loss, it will be too late. The reason why i am saying this is to prepare you for the inevitable. How fast can it happen?? In realtime.....with my account....I have seen a 50% DD and it only took 3 days for it to develop. It started Nov 14th, 2011 and took until Nov 16th, 2011 to get there. This was technically a 2 day trend as day 3 went sideways. My point is, if I had 50% DD in 3 days, what would have happened if the market had continued trending for 4 days, or even an entire week? The answer is, Margin Call. I have 500:1 leverage on this account and it is running minimum risk.

The real question now is.....How do you deal with it. In the EURUSD only, the positions started with 0.4 lots.....it now has 3 of those.....and in one more of 1.3 lots....add in one more for 2.5 lots.....and add in one more for 3.8 lots... So, in the EURUSD, it has a total of 8.8 lots open at an effective avg price of 1.3561. Current price is 1.3464....so I have the equivalent of an 8.8 lot position open that is currently sitting at -97 pips. Figure $88/pip and you get -$8,536. That is ONE pair. The DD on ONE pair is nearly 25% of my account.....and the market may go down further. 3 days. That is how fast this happened.

I am not telling you this to keep you from using this EA, but I believe it is only fair to have full disclosure. I am tired of being taken advantage of and seeing others being taken advantage of. The only way we are ever going to stop the nonsense is with to fight to get the truth out. Sorry, that this is ruining people's dreams, but look at it this way, would you rather be prepared with knowledge, or let it catch you off guard?

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

Member Since Sep 14, 2011  140 posts lobotomy8 Nov 17 2011 at 23:09
Fughe - excellent and true comment I fully agree with.

As I mailed before I've got 2 demo accounts:
Account 1 - I started with 100,000 $ initial deposit, running 4 pairs, medium risk 2%, as the developer recommended. After 13 days test period, my balance is only 66,000, equity is 34,000 (68% loss !!!!) and DD - 32,000$, I'm very close to Margin Call now, there is only 6% left...
Account 2 - 10,000 initial deposit, low risk. Balance is 15,000, equity 5,000 (50% loss !!) and DD -10,000 $. This happend after 9 days of testing period. Only 16% above the MArgin Call.
There is no way for this EA to recover as the equity dropped dramatically and there are no money to generate bunch of orders that eventually would help gaining some profits to shorten DD.

In my opinion, this EA is useless and very dangerous

craneliu

Member Since Nov 06, 2011  164 posts craneliu Nov 18 2011 at 09:21
hi All,

why all of our results are different from the one shown in myfxbook?
in this website, TOMsEA drowdown is only4.4%?


4XManager

Member Since Sep 23, 2010  4 posts 4X Manager (4XManager) Nov 18 2011 at 09:44
in my opinion, the ea here is not the same that is/was available for the public for a trial.
there is no other explantation for this difference in the results. ask yourself: how can that be, that this ea has only 4.4% drawdown but the ea's from all the other members have a lot more? and i mean a dd about 50%.
i have a live account with tom's ea with 8000 dollars real money, last night it opened one position with 0.9 lots!!! and with risk setting: 1 and only 3 pairs!

there is no way to get a good sleep with this ea.

fughe

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 18 2011 at 12:15
I agree with 4X_MANAGER at least partially. There are 2 other possibilities. #1-it could be that price feed differences are causing it to take different trades (highly unlikely as it is not a high speed scalper). #2-However is running the account is manually intervening and just not telling everyone the entire truth. The second is HIGHLY likely due to the small losses you see taken every now and then throughout the test history. I say this because, with what we have seen of this system, a real full stoploss would loose a catastrophic amount of the account equity, but a manual intervention could easily cause a reasonable loosing day every once in a while.

I personally believe that it is probably the same EA, but they are manually intervening and not telling everyone....but....that is just my opinion from the observable information.

And it looks like we got lucky....huge spike up in the EURUSD just closed out the EURUSD positions.grin

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

Member Since Jan 31, 2011  693 posts Antny (fughe) Nov 18 2011 at 15:56
Alright.....since the developer isn't being 100% up front....I decided to dig around a bit. I am looking at the code now and the risk is calculated as.....the initial position size is in direct proportion to the account size. Risk 1 = 10%, risk 2 = 20%, risk 3=30%. The calculation is account (equity * risk%)/10,000,000. So.....in my case, I am running risk of 1 with a $40,000 balance. 40,000 * 0.1=4,000 then....4,000/10,000,000=40,000 SO....the position size is $40,000 or 0.4 lot.

Now....At one point in time I had changed the risk to 2 on the GBPUSD, and then later changed it back to 1 because the risk was WAY to high. Since then, it has stayed at 0.5 lot, so....there must be a log file somewhere that it stores the last used position size and will not allow it to drop back down to a smaller starting position size.

Next up....time to edit the risk settings, and find that log file and alter those 'last known lot sizes', so that it will start using a resonable risk amount. I believe I am going to lower it to 1% risk. That should give it a much higher survivability.twist

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

Member Since Nov 06, 2011  164 posts craneliu Nov 19 2011 at 11:11

   fughe posted:
   Alright.....since the developer isn't being 100% up front....I decided to dig around a bit. I am looking at the code now and the risk is calculated as.....the initial position size is in direct proportion to the account size. Risk 1 = 10%, risk 2 = 20%, risk 3=30%. The calculation is account (equity * risk%)/10,000,000. So.....in my case, I am running risk of 1 with a $40,000 balance. 40,000 * 0.1=4,000 then....4,000/10,000,000=40,000 SO....the position size is $40,000 or 0.4 lot.

Now....At one point in time I had changed the risk to 2 on the GBPUSD, and then later changed it back to 1 because the risk was WAY to high. Since then, it has stayed at 0.5 lot, so....there must be a log file somewhere that it stores the last used position size and will not allow it to drop back down to a smaller starting position size.

Next up....time to edit the risk settings, and find that log file and alter those 'last known lot sizes', so that it will start using a resonable risk amount. I believe I am going to lower it to 1% risk. That should give it a much higher survivability.twist


well done. but what is meaning of '4,000/10,000,000=40,000 '? in my case, I used small account of $1000 and $2000. for both accounts, initial lots size is 0.01(one micro lot).

until now, the maximum lot size is 0.09 in order to recover the loss at the EUR/USD down trend as you knew which just ended.

I asked their support may time about the Relation between Risk level and percentage, they never told. 10% risk is quite huge from risk management, not only for martingale strategy, even for other trend following strategy.

did you mined more? 10% for risk level 1 is for the initial trade? or for the maximum per trade, or maximum loss for all open trade?
for example, they talked about for everal time that the maximum stop is 600pips (personally I am it is true or not).

for the lot size, at the beginning, only one micro lot, and then increase gradually. but we did not the details. Tom should tell the details to the client, otherwise lots of refund will happen within 2 months. other way is please do the homework ourselves by open the code, especially DLL. we should not do that, but we pay very high, but could not get valuable product and support.

for drawdown, I think myfxbook and MT4 define it for closed trades only, not for open trades. for my trial account, drawdown is more than 20%, but from statement analysis of MT4, it is only 2.62% finally after all trades closed. please correct me.

canadianpsycho

Member Since Aug 23, 2011  12 posts canadianpsycho Nov 19 2011 at 11:11
I`m confused because I`m over trading an account that I use to test EAs. It is only $3,000 in size and I`m trading 4 pairs on risk level 1. The vendor recommends that to be trading at this level, an account be at least $6,500 in size.

I experienced draw down on this account of up to something like 20% in open trades. How is it that the account I'm over trading is experiencing such little draw down in comparison to fughe's tests? On risk level 2 on all four pairs, I assume I would have experienced up to 40% but I thought I was over trading the EA as it is already.

I am getting very very similar results to the vendor.

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Trade Balance (11 min)
Singapore Industrial Production Rises Un...(14 min ago)
EURUSD 1.34711 GBPUSD 1.69913
USDJPY 101.721 USDCAD 1.07407
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