SharePosts by gwrigh
| Previous 1 2 3 4 5 .. 8 Next |
|
I would be interested if you would explain how Rich Owl will avoid complete disaster. Is there a drawdown limit in the money management settings? -4500 pips is huge - what's to prevent -10000 pips and blown account? Thanks.
|
|
I am not an EA seller. I'm just a regular trader in Arizona, USA. How did you come up with that? I hope you are not FourX.me. Someone else on this discussion said that. Please prove you aren't.
|
|
Be very careful of trade size vs account size with grid+martingale. For example, on Feb. 23 it was floating -4500 pips. That's roughly -$4500 at 0.1 pips on a U.S. account with 50:1 leverage. As I write this, it has 24 open trades totaling 0.72 lots floating -540 pips. That would be nearly -$3900 with U.S. leverage. I bought FourX.Me and the vendor was very unsupportive. That EA looked to perform a lot like this one and eventually blew their test account. Buyer beware.
|
|
Is your broker for real? Mellyforex and I both show Oddbot and Topbot taking a huge loss on that last trade and yet you are still in it? I've also seen 2-3 win trades that you got this week that mine didn't even trade and I have an institutional feed.
|
|
MFATA or MFA TA EA is an arbitrage EA, based on the westernpips EA, that apparently only works on brokers with a lagging feed to SANKO Bank. If you have a good broker with a very fast feed, it is not likely to work. That is one reason why it works so much better on demo feeds (which typically lag). ThinkForex and HotForex have lagging feeds. I don't think this would work on my broker. Check out these threads for more information before you spend $800:
http://www.worldwide-invest.org/threads/9162-Mfata?highlight=mfata
http://westernpips.com/index/newest_eng/0-28
http://minus.com/m8VSC1oHt
|
|
Hi, the only trading strategies I've seen with equity curves like FxPapa are grid-trading systems. They win most of the time (85-95%) but have occasional huge floating drawdowns (like the one on Feb 6-8), and without protection eventually hit their unlucky streak which crashes the account. You obviously aren't martingale (double-down on losing positions), which is good. Without giving away proprietary specifics, can you give us some assurance that the system will truly stand the test of time? GridMeUp had a great run for about a year, with a very similar equity curve (it floated about -5000 pi......
|
|
I noticed that you reset the test - did the previous account crash? Are you running the new 3.4 version here? Do you still believe in the strategy? What changes have you made that you think will protect it now? What settings do you recommend for a 1:50 leverage account per $10K? Thanks.
|
|
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 a......
|
|
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 ope......
|
|
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.
|
