Posts by MellyForex
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Forex Thor In Trading Systems Mar 01 2012 at 09:43
[quote] JamesLee posted: Hi, Melly, i bought thr thru ur link, may i know why my forex thor trade lesser than yours? Setting are the same. [/quote] Hi James, Without knowing more information such as your broker and the details of the differences between the two sets of trades, that's a very difficult question to answer. Could you please start a thread to raise those questions on the MellyForex forum here: It will be much easier and quicker for me to respond that way. Thanks.
Fast Forex Millions In Trading Systems Jan 27 2012 at 16:36
No, I haven't adjusted the filter depth, and I didn't receive the email from FFM support either. They possibly only sent it to users and not to affiliates. My copy has only been trading so far for a few days, so it's a bit too soon to be adjusting any of the settings in my opinion. Even so, I don't really understand the logic of changing one of the settings on the basis that it is supposedly broker dependent, because there's no effective way of optimising those settings for your broker. You would need a set of history data for the broker you want to optimise it to (MetaQuotes history dat......
Fast Forex Millions In Trading Systems Jan 27 2012 at 14:33
[quote] samwong15 posted: Hi, may i know is this the default setting? [/quote] Hi, yes they're the defaults although I've lowered the risk to 3%. There's more about it here:
Forex Gale (2) In Trading Systems Dec 21 2011 at 17:07
[quote] Kookoo posted: I think with this EA its important to see the open trades, can you please make them public. Thanks [/quote] No problem, I've edited the settings.
[quote] SeeMe123 posted: Hi Melly, Firstly I love the site, great work you are doing. Secondly what are your initial impressions of this EA? Thirdly are you using the default settings? If no what have you changed? Thanks Alex [/quote] Hi Alex, Thanks for the kind words. The problem with the EA is that it can carry a large open drawdown which can exceed the profit it's already banked. So far, the open drawdown has peaked at around 75%. When you look at an MT4 statement, all of the statistics only reflect the closed trades and look very, very impressive indeed. It's......
[quote] joegathu posted: Hi Melly. Which version of forex body are you currently testing on this demo account? [/quote] Hi Joe, It's 4.11.0.
I'm very reluctant to recommend one particular EA over another because I've no idea what sort of trading style you prefer. For instance, you get EAs which are scalpers which can either work 24/5 or they may only work for a couple of hours a day. Similarly, you get trend following EAs, swing traders, grid traders and other types too. Different EAs will offer varying win rates, varying risk/reward ratios, varying SL/TP levels. Some will only work on one or two symbols, others will work on many symbols. Some will only stay in trades for a short while, others will stay in their trades for day......
No problem. I did notice in my version that users can set a limit to the number of open trades at any one time (default = 3 for each strategy in each direction) and I would guess that this plays an important part in limiting the amount of margin being used and helping to keep the EA out of trouble. Even with a full set of open trades, my demo account isn't under any margin pressure whatsoever.
Hi, I haven't backtested the EA myself to see if or where it fails. At this stage it's only in forward test and, provided it shows some potential after the first 30 days, I'll analyse it in greater detail at that point in time and review it on MellyForex. You can read a little more about my Money Printer forward test on this link: Otherwise, I'm afraid that I can't tell you any more about the EA. If you say it fails its backtests, then I've got no reason whatsoever to disbel......
Forex Gale In Trading Systems Oct 10 2011 at 14:23
[quote] rob559 posted: YOUR RISK IS TOO HIGH ,SHOUD BE .05 FOR 5,000,THIS IS WHY YOU'RE HAVING SUCH A FLOATING [/quote] Yes, I'm well aware that the risk is too high. Unfortunately, FXCC's minimum lot size is 0.1 lot, so I can't do anything about the problem. Have you read my two articles about Forex Gale? and
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Nikkei trades marginally lower, awaits J...(10 min ago)
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