The open floating systems are all doomed to failure. It's impossible for them to work. And unfortunately if you look at all the "top" systems on myfxbook that's what's hanging around there. Just spam essentially, to the point where it makes the system evaluation almost impossible. I'll show you 10 000% a year simply but not closing the losses.

Your systems are retired when they're up and then shown as a good result. Some have run only 3 days, others have big draw downs for mediocre growth. Others have large unrealized positions...

That just pisses me off. Basically you're misrepresenting what's happening in your systems. To what end I'm not sure, but the first day a 30 % draw down arrives you're going to have pissed off clients on your six.

Lets have quick look:

BBW Scalper (DBuch 80702) retired 30 days - profit 8000, open losses 10 000, but retired so that's ok, was up when it retired? 20% down...
BBW Scalper (KBuch 80706) retired 30 days - profit 1105, open losses -500, no losing trades, 30% profit. Of course when we deduct the losses the picture changes a bit, like say 10% with 30% drawdown, but that's ok, because that one is also retired, doesn't count any more.

Here's nice one

BBW Scalper 3.9.8 Pro(Vondale 3k 95846) - profit 594, open losses -917, up 20% only 20% losing trades, this thing is -30%

All those are posted on your website with a nice growing graph?

It doesn't look so good from where I'm sitting. Looks to me like they're mostly failing in fact. I'm not going to go through the rest cause they all look like that.

Why don't you just delete all 40 and run the one you think works for a few months and then potential investors can get a coherent realistic picture of what's really going on.

Here's a basic question, what growth do you expect and what's the draw down going to be when you finally start closing those danglers...? Don't know hey, cause its all dynamic....

Heard that before.

Currently, i showcase our products work by sending folks from my web site to:
http://www.MyFxBook.com/search/BBW

As you can see from this link, it has both my Scalper product and my BarBQu product. It also contains a mix of live and demo accounts. I have created portfolios that nicely seperate them for my own viewing, but if I want to share those portfolios to my customers I cannot.

As you can see from the above link, you will see there are also reports that belong to our clients who choose to share their reports to help us show the success of our efforts. It would be nice to include them in our report portfolios and sort them accordingly also so we can have them available for showcasing.

Elkart posted:
The open floating systems are all doomed to failure. It's impossible for them to work. And unfortunately if you look at all the "top" systems on myfxbook that's what's hanging around there. Just spam essentially, to the point where it makes the system evaluation almost impossible. I'll show you 10 000% a year simply but not closing the losses.

Your systems are retired when they're up and then shown as a good result. Some have run only 3 days, others have big draw downs for mediocre growth. Others have large unrealized positions...

That just pisses me off. Basically you're misrepresenting what's happening in your systems. To what end I'm not sure, but the first day a 30 % draw down arrives you're going to have pissed off clients on your six.

Lets have quick look:

BBW Scalper (DBuch 80702) retired 30 days - profit 8000, open losses 10 000, but retired so that's ok, was up when it retired? 20% down...
BBW Scalper (KBuch 80706) retired 30 days - profit 1105, open losses -500, no losing trades, 30% profit. Of course when we deduct the losses the picture changes a bit, like say 10% with 30% drawdown, but that's ok, because that one is also retired, doesn't count any more.

Here's nice one

BBW Scalper 3.9.8 Pro(Vondale 3k 95846) - profit 594, open losses -917, up 20% only 20% losing trades, this thing is -30%

All those are posted on your website with a nice growing graph?

It doesn't look so good from where I'm sitting. Looks to me like they're mostly failing in fact. I'm not going to go through the rest cause they all look like that.

Why don't you just delete all 40 and run the one you think works for a few months and then potential investors can get a coherent realistic picture of what's really going on.

Here's a basic question, what growth do you expect and what's the draw down going to be when you finally start closing those danglers...? Don't know hey, cause its all dynamic....

Heard that before.


I like your feedback. Much better than the twist of attitude. I did figure out that the drawdown was an issue in 3.9.8. I did go back to the drawing board and added tools to help releive the tension of the drawdown. The 4.4 verion does close losers in a moderate fashion. I have been trying to find good research that would show a good way to manage the drawdown. Everything from improving the the accuracy of the opening trades, to pausing trades for more time to allow trades on drawdown to close and I even tried to close trades that were the largest on every new candle. Still trying to make it happen. So far the cash collector is doing a decent job on a per chart basis. It closes negative trades when the positive trades reach a specifc pip value. This way the positive trades outweigh the negative trades.

Now if you have a suggestion on how to do it cleaner, I am all ears. I am not trying to win the GREATEST EARNINGS percentage award and I am not out to brag about how much percentage I am racking up, I am more concerned about a stable program that provides a steady flow with good protection to the investment. So if you would like to present me with some options that would work I would be happy to build it and test it to see how it works out.

BTW: I haven't finished collecting the data results from the retired automations. About 2 weeks ago, I had business events that caused me to get too busy trying to get higher priority things done than dealing with retired reports. If it makes you feel better, I can remove them from the list.

I am curious, if you like Robominer, take a look at this one and tell me what you think of it: http://www.Myfxbook.com/Search/BBW

There are actually 2 of them there. Check them both out and let me know what you think of them.

Maybe it is just the jitters of Opeing day for my business, but I just need a little assurance that my system is worthy, so I thought I would ask the experienced traders here to evaluate my reports and tell me what you think of our products. For what to expect of the product and how it behaves, you can get the info on www.InvestorsHaven.com, which goes through all the features that I have built into my system. The automation reports can be found at www.MyFxBook.com/search/bbw

With our Grand Opening being Monday the 7th, I am worried that folks won't be impressed or that we are banking on a poor product. I would just like an honest evaluation. If you are in the Seattle area, you can come and watch me make a fool out of myself. I will be at the Kona Kia cafe 124 4th Ave S Ste 180 in Kent, WA 7:00 pm. Please don't torture me too bad, I am going to be a nervous wreck that night anyway.

billiboysclub posted:
with a 42% floating DD....


BillyBoy, not knocking you, but you sure are negative. I am only using this discussion system to make notes on the trader reports. Not trying to brag or anything like that. I am running 33 of them with a team of testing investors who are trying to determine the success or failure of these automations. I note the dates when they cross specific boundaries so we can get an estimate of how long it takes for these automations to come to earnings. If you go to http://www.myfxbook.com/search/BBW you will see all 33 of them and you will find that only a few have closed drawdown.

Now if I understand his stats right, the drawdown here seems to be coming from about 3 of his trades moving away from the profit range. This trader can also be a wait and hope trader by choosing to not use the Stop Loss, so his trades are waiting to come back to earnings. The way this trader is designed it should be able to handle more than 1500 pips worth of movement in the wrong direction before the EA is in trouble.

The cool feature of it, is that it makes money but protects the user from a fatal Margin call. Now it is not 100% and I have yet to have any report hit a margin call, so I really can't prove it. I figure if no one hits a margin call with it in a years time, then maybe it really works.

If over 80% of the trades are 5 pips or less the system should be added to a separate Scalper system list. These ISEA guys are taking over the system list. When you go to the System list there should be the option of viewing Scalpers separately since most of these are just fantasy Grails or ISEA. - Make the option to view scalpers easily viewable but please make it separate.

This broker has a sever latency issue when it comes to trade execution. This is widely reported and discussed on several forum.
Scalpers beware!

going great..

i see you have a pretty short life span of your open positions..i guess you're a scalper?

It depends on the trade realy ... and your definition of scalper. What I have learned from this first attempt is that most of the time I can actually go for 25-50 pips per trade. But then it depends on what the market is doing at the time, right? :)

This account is now inactive. My new account can be found at https://www.myfxbook.com/portfolio/guru-50-50-2nd-try/166

I also use this broker and can attest to their incredible speed at depositing funds. They are also very quick to fill requests to withdrawal funds as well. Their spreads are better than my Dukascopy Suisse account but the execution is not quite as quick. Don't get me wrong, JadeFX's execution is still great, it's just not as blistering as Dukascopy. Their commission fees are more than reasonable and their spreads are razor thin. I have used Alpari (US), TadawulFX, and FXCM US & UK. None of them come close to the performance, bargain, and satisfaction that JadeFX has. I have used scalpers, grids, and manual trading all of which perform exactly as each is intended (my performance is the weakest point right now).

Do they officially allow scalper robot, anyone know their real spread on EU GU, UJ, AUD/USD. USD/CHF . EUR/JPY in real live account during Asian Session ?

Hi guys,

My name is Kenny and to myfxbook, congrats on a very nicely presented site.

I hope that this is not considered as spam, but I assume that the point of this site is to match traders with potential clients.

Accordingly. I thought I would set the ball rolling for people that may be looking to invest.....

I have set up a PAMM account with Forex.com so that people may invest with complete peace of mind. For those that are not familiiar with the PAMM system, it stand for Percentage Allocation Management Module. I control and trade a master account at Forex.com and when people invest, they open an account in their own name at the broker. They also pass their funds on to the broker. The broker then connects all the sub-accounts of my clients in the master account. The benefit of this system is that, other than electronic trading access, I cannot lay my hands on your money.

Bottomline is that, although you can still lose through market activity, at least you will not lose through fraud. Another benefit is that the broker has their own reporting system ensuring complete transparency.

My system consists of several robots. There is a slow growth consistent and stable one, and this is augmented by some scalping. The scalping consists of some familiar Asian session scalpers, as well as some less known scalpers. There is also one or two propriety scalpers. The scalping tends to be fairly dynamic, with me changing pairs and robots as need be.

Anyway, I will try answer any queries as opening and honestly as possible and here wishing every one the best of luck.

Regards

Kenny

First off, I want to make clear that this is not my information. I am posting it here as it is by far some of the best words of wisdom I have ever read in my years of trading forex. Thanks to Acumen for putting together his thoughts from years of trading.

The attached pdf should be treated like gold.

Also saw a reference there to Paul Rotter - the worlds most successful scalper.....interesting one of his comments:
"Q: why don't you have any problems with closing out the position and even taking the opposite direction? shouldn't a trader stick to his opinion?
A: no, definitely not. an analyst or some kind of guru has to stick to it, but as a trader you should have no opinion. the more opinion you have, the harder gets it to get out of a losing position."


The original topic is posted on Forex Factory:
http://www.forexfactory.com/showthread.php?t=178922

1. Greater than 5% per EA or it is wasting my time. This is also a function of risk.....with a low risk EA like Robominer 5% is acceptable. A higher risk scalper(or progressive strategy for example) requires a higher return to be attractive.
2. The EA bashers would like 100 years but I am happy to go live with 1 month forward test + backtest results.
3. See above.....people look at back tests and say....oh that won't happen for real. They miss the point of a backtest. Apart from seeing if the strategy works, it also helps you understand how the EA works.
4. Flexibility to use with 4/5 digit brokers & with ECN. A well coded EA also provides feedback on what is happening. An EA creator that is prepared to answer questions also helps. Price is the least important issue.
5. Yes.....however hype does not automatically = scam. Make up your own mind.
6. Yes.....for now'/>

compuforexpamm posted:
1. Greater than 5% per EA or it is wasting my time. This is also a function of risk.....with a low risk EA like Robominer 5% is acceptable. A higher risk scalper(or progressive strategy for example) requires a higher return to be attractive.

I am not so sure about Robominer he has multiple systems open all showing 2700% or some preposterous figure. But if you look closer you will note he hasn't closed his loosing trades - just keeps them open. Some of the open trades ran at $14000 losses, in a real account you wouldn't do this. Factor in his loosing trades(open) , compare equity with opening deposit and he is actually running at a loss on his systems.

donnalife posted:
1. What % per month should it be averaging? 10-25% per month constant
2. How long should it be forward tested? 2-3 months max.
3. Do you think back tested results are important? no
4. What other factors should we look at before buying an EA?
5. Are most commercial EAs hyped?
6. Are you personally doing well using an EA?


1. Make 5% to 10% a month and you'll do over 100% per year. George Soro's and Warren B would be Jealous.
2. A month plus or until you see the EA follow the strategy rules flawlessly every time.
3. No. I dont believe in them. Backtests are crap. (I only backtest to check code. I ignore the results.)
4. Forward Demo's with known brokers. LIVE Money Forward tests. (if a scalper)
5. It Slices. It Dices. It'll Grow Hair and Fill your Pockets with CASH!!...
6. Yep. 5-15% per month with about 9% DD is fine with me.

- DragonPips Ultimate v2.01 is an overall good scalper.
Best pair to worse:
GBPUSD (VERY good) EURCHF (average) EURUSD (barely make some profit) EURGBP (don't even think about it). One of my favorite because of its performance with GBPUSD.

- Euro-Blaster v3: I use it and it doesn't lose often but when it does.... ouch!!! Caution with this one. Stop loss is huge.

- FedoraFX: Slow grower but constant. You must accept to have martingale on your account. But the Fibonacci tactic works very well. I surprisingly like it.

- Forex Accumulator II: Scalper that surprisingly works well up to date. Unfortunately i can't find Accumulator III anywhere. If you have it, let me know.

- Hi-Net Grid Strategy v3.1.9: A grid trading system using martingale. Very profitable but can be very dangerous if the market makes a huge move. Drawdown can be huge with this one.

- Hi-Net Hedge Grid Management v2.0.5: Same as the last one but use hedging and trade only GBPUSD. Can be even more dagerous than the last one.

- IvyBot v4.9: Very slow grower. Despite the bad reputation of the coding, it is constant. USDJPY is not so good but the rest is ok. I can't find newer version than v4.9 so if someone have it please let me know.

- MegaDroid v1.21: Very good scalper for EURUSD. But unfortunately it doesn't trade often at all.

- Megadroid Pro v1.01ee: Same as the last but trade also more pairs. But again: Don't trade EURGBP !

- Naminori Bill Final v9: May be my favorite ! Trade only AUD/CAD and average usually only 1 trade/week. But it is always a good trade and it never lose due to a smart and limited martingale.

- PipMaker v16: A kind of limited grid trading with limited martingale that works very well and can be adapted to almost any pair.

- Robominer II v2.18: Very smart standard Grid trading. Always constant. Another of my favorite.

- Robominer Pro v1.02: Same as the last one but can be adapted to any pair. Or do like i do: use it with the same pair in complement of the Robominer II. Very efficient but obviously requires more free margin.

- Volatility Scalp EURCHF D01: Good scalper for that pair. No more no less.

- Volatility Scalp Eurocross D05 non-FFCal: VERY good scalper for EUCHF and the only scalper i ever saw that can still make some buks with EURGBP. One of my favorite. May even work on some other pairs but i never tried it.

Yes, it is mainly those that are the best, or at least the more trust worthy.

Just some more precisions:

- I use DragonPips with EUR/USD, GBP/USD and EUR/CHF. But it is the GBP/USD that is the best by far with this EA. I DON'T trade EUR/GBP.

- I use MegaDroid Pro with EUR/USD, EUR/CHF and USD/CHF. All with the "Agressive" setting "on" except for USD/CHF on which i disabled the strategy 2 (Agressive off), this strategy was hitting the stop loss way too often for my taste. I DON'T trade EUR/GBP.

As for Naminori Bill, well... The problem is not really the EA. The problem is investors themselves. I know... Because i was like that also at first. Let me explain myself:

Every investors who start trading forex and using EA almost always start by learning at some early point 2 things that stuck to their way of seeing what an EA should be. Those 2 things are:

1- Scalpers are good. Everybody like them so every body want to sell you a scalper. The question people should ask themselves is why? Because they are the only kind of EA that you start to use with a low amount of money and as such can reach a very large part of the consumers for those who try to sell it. Period. Now the real truth: Scalpers are not so good. I don't say they are bad. I just say they are way over rated. Scalpers have large up and down. Who never experienced a time with a scalper were you wait for it to get out of the down it got you into? They also are almost always dependant on how the market perform at the time you use them, and as such, can almost never be trusted for the long term. Another problem with most scalpers is that they only trades at some hours and the rest of the day is wasted in waiting. How can you make significant money with that? It is like if people decide that, starting tomorrow, they will make enough money by working only 1 or 2 hours per day. They would not have much pay for that... The simple truth is that i never started making real money until i got some other EA on my account that DON'T scalp. I think of them as just a good complement for diversification of strategy, and everybody should take them as just that, no more no less.

2- The other thing every trader learn is to avoid martingale like the pest. And to some major extend, they are completely right... And false. How many of us ever found a new EA on any website but at the first sight of seeing the word "Martingale", we run away somewhere else like if it were automatically bad? This is a complete prejudice. And it is understandable also to a good extend because pure martingale is similar to suicide on the long term for any account. But after passing over my own prejudice, i started testing a lot of EA where the famous word "Martingale" was involved and i realized that some EA use limited, controlled or modified version of the Martingale system and that they perform very well. Of course, every benefit comes with a price. In the case of systems based on any modified Martingale, it requires a more important amount of money to start with, just to be on the safe side. Drawdown can also be more than with a scalper, but the reward are also accordingly. And most trades also all day long contrary to most scalpers.

So to come back to your question about Naminori Bill: Yes, it is a modifed version of martingale but it is used in a bright way. It works only on AUD/CAD M15 (I admit i never even tested it on any other pairs) and i would not recommend trading it with less than a 10 000$ account. In fact, i think the EA won't even want to start if there is not at least that in the account. I recommend you do some backtest with the graphic option to see for yourself how it works. Don't forget to put at least 10 000 in your backtest.

Now your broker question: No i don't use ECN with FXOpen. In fact, i don't even use the standard account. I am with the micro account in cents which use 0.1 min lot. So all amount you see are in cents. It means that if you see my stats showing a balance of $42674.54, it means that my true balance is 426.75$. Why do i use that account? Because i find it GENIAL ! Why? Because with that kind of account you can put only 100$ and your account will show 10 000$ (10000 cents) which is enough to test and trade live EA like Naminori Bill that requires as much as that and some others even more. I would not be able to do that with other brokers where the amount of money you put is what you get and are only allowed to trade 0.01 lot as a compensation. Unless you REALLY put 10 000$ in it which i am not crazy enough to do just to test some EA... Way too much to lose just for testing. What is the best? To trade 0.1 lot with 10 000$ or to trade 0.01 lot with 100$? I think the answer is obvious... It is always the one who let you the more free margin to trade and in this case the difference is huge.

Hope all that can help you in any way.

Registration

PipCollector posted:
Hi Phoenix48, I see you've started the account a bit over 6 months ago but I don't see any positive results yet.

Do you have any conclusions regarding the use of EA's? Have you found a profitable combination?

I see you're using practically every commercial EA out there, and I wouldn't be surprised to find out that none of these commercial EA's work in the long term.


Yes, some get positive results in the long run, but they are very few compared to all the EA i tried. Either they simply don't resist a live test or they perform ok for a while but can't maintain performance when the market change. I even got at least two that don't lose any money BUT don't win either in the long run so what's the point of running them? None. FedoraFX that i just removed was one of those. No money made or lost in 6 months time. It's not a lost of money but it is surely a lost of time.

The few that performs well (of those i tested, of course) are in my list, except for FX Equity Builder... I keep it simply because i am stuck in some losing trades with it that i can't close right now but as soon as i will be able to remove it, i will.

Another point of mention: For most scalpers in my list, i don't trade all the pairs they can do and not all the strategies either, it would not be profitable. For example: DragonPips is supposed to trade at least 3 pairs and have 4 strategy for each pair but the only way i found it to be profitable in the long run is by using it with GBP/USD with strategy 3 only. i have similar limitations to be profitable in the long run with Faptubo49 (EUR/CHF and USD/CHF only but i am thinking of keeping USD/CHF only...) and MegaDroid Pro (EUR/USD agressive TRUE, EUR/CHF agressive FALSE and USD/CHF agressive FALSE only).

Also, please remember that i am using FxOpen so maybe someone using a different broker would get different results and need different settings.