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FxPapa Expert Advisor (Od FxPapa)

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FxPapa Expert Advisor Omówić

Nov 26, 2011 at 18:49
Przeglądane 36,708
613 Replies
Uczestnik z Jun 11, 2010   32 postów
Feb 13, 2012 at 21:52

   gwrigh posted:
   I would like to understand this as well. How did this account float the recent DD from 151.5% down to 107.5% without closing any trades? Please explain in terms of settings and whether you intervened. Thanks. Results still look very good, but we need to understand them in terms of the EA's settings to set expectations. Right now things aren't matching up. I, for one, would want to know that if I set the risk to 10, that means that it will close all trades if the floating DD reaches 10% of my account balance. It doesn't make sense to me for risk of 10 (i.e. 10%) to actually mean 20%, etc.

hey guys, as what i have noticed, risk setting is used for lot sizing and the actual DD is double that number.

for example on a $1000 account

Risk 1:
Lot size=0.01
DD = 2%

Risk 2:
Lot size=0.02
DD = 4%

Risk 3:
Lot size=0.03
DD = 6%

Risk 4:
Lot size=0.04
DD = 8%

Risk 5:
Lot size=0.05
DD = 10%

you do the math from here...

Uczestnik z Nov 26, 2011   136 postów
Feb 14, 2012 at 00:24
Hi

The new version of the EA has fixed the order close issues. In the first version the Max DD was 20 while the input risk was 10, in the new version they are the same.

As you may know the EA has 2 parts.

Server Version

This is the EA which is running on our server. The current performance is for the Server side EA.

Client Version

This is the version which our clients use. It copies the trades from our server.


Last week we noticed that there was a difference between Client and Server SL levels. Now we have fixed it in the new version.



Best Regards
Uczestnik z Nov 26, 2011   136 postów
Feb 14, 2012 at 00:28

   richdad711 posted:
   

   gwrigh posted:
   I would like to understand this as well. How did this account float the recent DD from 151.5% down to 107.5% without closing any trades? Please explain in terms of settings and whether you intervened. Thanks. Results still look very good, but we need to understand them in terms of the EA's settings to set expectations. Right now things aren't matching up. I, for one, would want to know that if I set the risk to 10, that means that it will close all trades if the floating DD reaches 10% of my account balance. It doesn't make sense to me for risk of 10 (i.e. 10%) to actually mean 20%, etc.

hey guys, as what i have noticed, risk setting is used for lot sizing and the actual DD is double that number.

for example on a $1000 account

Risk 1:
Lot size=0.01
DD = 2%

Risk 2:
Lot size=0.02
DD = 4%

Risk 3:
Lot size=0.03
DD = 6%

Risk 4:
Lot size=0.04
DD = 8%

Risk 5:
Lot size=0.05
DD = 10%

you do the math from here...



Dear Richard

Please use the new version of the EA. We have fixed it. If you haven't received it yet please send an email to our support and we will send it for you.


Best Regards


Uczestnik z Nov 21, 2011   5 postów
Feb 14, 2012 at 11:03
I can´t understand the moaning here? FXPapa is one of the best bots (signal service) on the market. Anyway, I'm very satisfied with it!!!
Uczestnik z Jun 11, 2010   32 postów
Feb 14, 2012 at 11:40
who's moaning? clients are just airing out their concerns about the risk and the maximum DD. that's it.
Uczestnik z Nov 20, 2010   87 postów
Feb 14, 2012 at 12:20

   Tovlad posted:
   I can´t understand the moaning here? FXPapa is one of the best bots (signal service) on the market. Anyway, I'm very satisfied with it!!!

My complaint is that FxPapa is advertised as an 'expert advisor' when it's really a signal service. Of course, I didn't know it was a signal service until after I bought it and couldn't figure out why I couldn't backtest it. Needless to say, I wasn't too happy. Then, instead of simply issuing me a refund since he had misrepresented the product, the vendor has refused...

Anyway, since I haven't been able to get a refund, I'm still running FxPapa on my demo account. And I noticed that the vendor's account had a GU buy trade today (2/14) that I didn't get. Did anyone else miss this trade too?
Uczestnik z Feb 04, 2011   32 postów
Feb 14, 2012 at 15:10
Has anyone noticed the sudden drop in lot sizes from 2/7 to 2/13?

FxPapa, why is that so?
Uczestnik z Jul 24, 2011   91 postów
Feb 14, 2012 at 19:22

   rgmann posted:
   I noticed that the vendor's account had a GU buy trade today (2/14) that I didn't get. Did anyone else miss this trade too?

Hi FxPapa,

I didn't get the GBP/USD trade either, on my real account. What happened?

Regards
Uczestnik z Nov 26, 2011   136 postów
Feb 15, 2012 at 01:09

   Alec posted:
   

   rgmann posted:
   I noticed that the vendor's account had a GU buy trade today (2/14) that I didn't get. Did anyone else miss this trade too?

Hi FxPapa,

I didn't get the GBP/USD trade either, on my real account. What happened?

Regards

Dear Alec/Roger

Please contact our support service. They will help you resolve the problem.

Please notice that in order to use the new version of the EA you still need the last version of the EA to be installed. So if you want to set the EA on a new Demo/Real account, first run the 'Setup.exe' file and follow the instruction as the Manual and after finishing the setup apply the update as the 'Update' email shows.

For more information kindly contact our support service.

Best Regards.
Uczestnik z Feb 11, 2012   14 postów
Feb 15, 2012 at 07:19

   FxPapa posted:
   

   Alec posted:
   

   rgmann posted:
   I noticed that the vendor's account had a GU buy trade today (2/14) that I didn't get. Did anyone else miss this trade too?

Hi FxPapa,

I didn't get the GBP/USD trade either, on my real account. What happened?

Regards
Hi, I have the same issue here, and what you said is after you copy and paste the new EA file into the expert file, you have the re-install the old EA file one more time in order to work properly?


Dear Alec/Roger

Please contact our support service. They will help you resolve the problem.

Please notice that in order to use the new version of the EA you still need the last version of the EA to be installed. So if you want to set the EA on a new Demo/Real account, first run the 'Setup.exe' file and follow the instruction as the Manual and after finishing the setup apply the update as the 'Update' email shows.

For more information kindly contact our support service.

Best Regards.
Uczestnik z Nov 26, 2011   136 postów
Feb 15, 2012 at 08:48

   stephen0729 posted:
   

   FxPapa posted:
   

   Alec posted:
   

   rgmann posted:
   I noticed that the vendor's account had a GU buy trade today (2/14) that I didn't get. Did anyone else miss this trade too?

Hi FxPapa,

I didn't get the GBP/USD trade either, on my real account. What happened?

Regards
Hi, I have the same issue here, and what you said is after you copy and paste the new EA file into the expert file, you have the re-install the old EA file one more time in order to work properly?


Dear Alec/Roger

Please contact our support service. They will help you resolve the problem.

Please notice that in order to use the new version of the EA you still need the last version of the EA to be installed. So if you want to set the EA on a new Demo/Real account, first run the 'Setup.exe' file and follow the instruction as the Manual and after finishing the setup apply the update as the 'Update' email shows.

For more information kindly contact our support service.

Best Regards.

Yes.
Uczestnik z Jul 30, 2011   72 postów
Feb 15, 2012 at 17:18
So, just to clarify, in the new/current version 2.1, the Risk_Percent setting is now fixed and is equivalent to the maximum % open drawdown (instead of 2x in the previous version), correct? So the EA/Signal-Client will open a maximum of 3 trades; if the combined total drawdown of all the open trades reaches Risk_Percent of the account balance, it will close all open trades?

For examples, for an account balance of $10,000:

Risk_Percent = 5
Lot size per trade = 0.25 (potentially x3 trades, so 0.75 potential max lots open at a time)
Max DD = $500 (=5% of account balance; if total DD of all open trades reaches this, all trades will be closed)

Risk_Percent = 10
Lot size per trade = 0.5 (potentially x3 trades, so 1.5 potential max lots open at a time)
Max DD = $1000 (=10% of account balance; if total DD of all open trades reaches this, all trades will be closed)

Risk_Percent = 15 (which is what vendor is running, I think)
Lot size per trade = 0.75 (potentially x3 trades, so 2.25 potential max lots open at a time)
Max DD = $1500 (=15% of account balance; if total DD of all open trades reaches this, all trades will be closed)

FxPapa, please confirm. Also, in good faith, please grant refunds to dissatisfied customers who purchased the old version which did not function as described or who did not want to purchase a signal service.

Everyone, to be fair, I think the author has eventually answered our questions and responded to our concerns with actual changes to his product. Let's not be too quick to cry scam and accuse someone of dishonesty. An EA is just mql code (compiled or not, with dll or not) that automates trading functionality. An EA based on signals is completely legitimate. However, that type of EA is distinct from a totally autonomous EA. FxPapa seems to be a bit of both since the client side EA controls the trades once signals have been received. It's not just a signal service. It's true that it won't trade without receiving signals, but at least open trades are not left stranded/uncontrolled if server communications are somehow lost.

FxPapa, I think there is one outstanding question: it appears that your (server EA) floated a drawdown of more than 30% (Risk_Percent of 15 x 2 in the old version) on February 6-7, will you please explain? Did you intervene?

Thanks.
Uczestnik z Nov 26, 2011   136 postów
Feb 15, 2012 at 19:56

   gwrigh posted:
   So, just to clarify, in the new/current version 2.1, the Risk_Percent setting is now fixed and is equivalent to the maximum % open drawdown (instead of 2x in the previous version), correct? So the EA/Signal-Client will open a maximum of 3 trades; if the combined total drawdown of all the open trades reaches Risk_Percent of the account balance, it will close all open trades?

For examples, for an account balance of $10,000:

Risk_Percent = 5
Lot size per trade = 0.25 (potentially x3 trades, so 0.75 potential max lots open at a time)
Max DD = $500 (=5% of account balance; if total DD of all open trades reaches this, all trades will be closed)

Risk_Percent = 10
Lot size per trade = 0.5 (potentially x3 trades, so 1.5 potential max lots open at a time)
Max DD = $1000 (=10% of account balance; if total DD of all open trades reaches this, all trades will be closed)

Risk_Percent = 15 (which is what vendor is running, I think)
Lot size per trade = 0.75 (potentially x3 trades, so 2.25 potential max lots open at a time)
Max DD = $1500 (=15% of account balance; if total DD of all open trades reaches this, all trades will be closed)

FxPapa, please confirm. Also, in good faith, please grant refunds to dissatisfied customers who purchased the old version which did not function as described or who did not want to purchase a signal service.

Everyone, to be fair, I think the author has eventually answered our questions and responded to our concerns with actual changes to his product. Let's not be too quick to cry scam and accuse someone of dishonesty. An EA is just mql code (compiled or not, with dll or not) that automates trading functionality. An EA based on signals is completely legitimate. However, that type of EA is distinct from a totally autonomous EA. FxPapa seems to be a bit of both since the client side EA controls the trades once signals have been received. It's not just a signal service. It's true that it won't trade without receiving signals, but at least open trades are not left stranded/uncontrolled if server communications are somehow lost.

FxPapa, I think there is one outstanding question: it appears that your (server EA) floated a drawdown of more than 30% (Risk_Percent of 15 x 2 in the old version) on February 6-7, will you please explain? Did you intervene?

Thanks.

Hi

Thanks for your comments.

You are right about the money management.

About our Server side EA we have fixed the SL level so the client and server SL level are the same now but as you said there was a difference between them last week.

Regards


Uczestnik z Jul 30, 2011   72 postów
Feb 15, 2012 at 20:44
My examples above with $10K balance are for standard lots ($100K). I believe FxPapa's $200 account (starting balance) is a micro account (so $10K lots), so multiply my lot sizes by 10 to convert to micro-lots. I guess the EA adjusts this automatically?

FxPapa's server EA is currently opening trades with sizes of around 0.4 lots with a balance of around $500, apparently using version 2.1 since the trade sizes dropped roughly by half from Feb. 8 to Feb. 13.

For $500 account:
Risk_Percent = 15 (which is what vendor is running, I think)
Lot size per trade = 0.038 (=0.38 micro-lots, max x3 open at once)
Max DD = $75 (=15% of account balance; if total DD of all open trades reaches this, all trades will be closed)

Or something close to that.
Uczestnik z Nov 26, 2011   136 postów
Feb 15, 2012 at 21:41
Hi

Yes, our account is Mini (1 Lot = 10,000$). The EA adjusts it automatically.


Best Regards
Uczestnik z Jan 18, 2012   81 postów
Mar 07, 2012 at 07:12
hi, you are selling only a signal receiver ea. So pls tell me that for how long time you will send signals.

And if you will stop sending signals anytime in future, then how we will trade. What is the solution of this problem because everybody knows that anyone cant send signals for unlimited time.
Uczestnik z Nov 20, 2010   87 postów
Mar 07, 2012 at 08:00
I'm no longer getting the same signals as the FxPapa account. You currently have EU and GU buys open on your account, but I don't have any trades open on either my demo or live accounts. Do you have any idea why? Here are the links for Myfxbook accounts so you can see for yourself:

Demo -- https://www.myfxbook.com/members/rgmann/fxp/233682

Live -- https://www.myfxbook.com/members/rgmann/rgm-live/197153

Thank you...
Uczestnik z Nov 26, 2011   136 postów
Mar 07, 2012 at 10:16

   rgmann posted:
   I'm no longer getting the same signals as the FxPapa account. You currently have EU and GU buys open on your account, but I don't have any trades open on either my demo or live accounts. Do you have any idea why? Here are the links for Myfxbook accounts so you can see for yourself:

Demo -- https://www.myfxbook.com/members/rgmann/fxp/233682

Live -- https://www.myfxbook.com/members/rgmann/rgm-live/197153

Thank you...

Dear Roger

We are checking the signal provider software. This shouldn't happen again.

Thanks for your notice.

Regards
Uczestnik z Nov 26, 2011   136 postów
Mar 07, 2012 at 10:20

   brijesh posted:
   hi, you are selling only a signal receiver ea. So pls tell me that for how long time you will send signals.

And if you will stop sending signals anytime in future, then how we will trade. What is the solution of this problem because everybody knows that anyone cant send signals for unlimited time.

Dear Brijesh

We have created the signal provider to protect the strategy and currently we don't have any plan to share the original EA but be sure we won't leave our clients with only the signal receiver.

Regards
Uczestnik z Nov 20, 2010   87 postów
Mar 07, 2012 at 11:28

Dear Roger

We are checking the signal provider software. This shouldn't happen again.

Thanks for your notice.

Regards

Ok, thank you. I'll let you know if I notice it again in the future. I've been receiving the same signals as you up till today, so it definitely seemed to be a problem that just came up...
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