now that's being greedy :) I started off with the Aeron EA and got out just in time as I see it blew some accounts it did double my money in about 2 months then wiped out most of the gain. been trading manually since then but the time zone differences aren't great so need to look at EAs again I think and maybe do an online forex course to help learn about controlling my risk. cheers bud
Yes. This is FH Pro 4.5 - settings are provided with the license. If you decide to run this on a real account, it would be great if you could upload your results so we can compare our systems.
This would be handy if we have different settings so we can also see the results - whether more profitable, or less DD, etc.
There are many variables, but if you use ICM and have default settings like me you should experience the same results. 😀
Let me know if you come across any successful EAs - I always try to look at real money forward tests and forum reviews before I purchase EAs, but I have many free ones and some I purchased which were not very good.
I have lost all the money I have worked for in the past 10 years from three jobs: bad iinvestments, scams, purchasing investment seminar materials, etc. (probably $500k+). Recently I lost $120k in an online scam with Profitable Sunrise and ProForex Union, so I am hoping this is my ticket to get back to where I should be. I am sick of living in my dilapidated sharehouse, sick of travelling to work every day, sick of working every day, sick of eating poorly, sick of limiting my life, only to lose all my money through mistakes. I want to change my life NOW. It may sound 'greedy', but I don't want to wait another ten years of my life before I can see improvements. 😭
The current large DD is due to SpiderWeb Profit Master EA which I have just removed. I will wait for the EU to lower before I close out the positions. FH does not seem to have the same DD issue - it seems to work smartly by closing a basket of trades over different pairs, some losing, some winning, overall winning. 😀 I am only using FH now (as you can see by the trade comments).
My life has been an interesting experience: when you work three jobs you see different things a lot more (because you are out more). But lack of sleep, and the stress can impact on life alot, and now I don't feel as keen (or 'eager to live'). I'm not suicidal, but at the same time I feel less 'drive', less motivation (perhaps it's all the setbacks?). I hope I can get some of my motivation back when I take a long vacation! 😀
Yes businessguy, 'Pray, but don't stop rowing to shore'. Submit your life to God but don't 'give up' your efforts - God gave you many gifts, so use whatever you can to the best of your abilities. If you don't do this, you sin against God and yourself. 😉
You ought to read Matthew 25: the parable of the talents.
thanks for sharing BluePanther. I will probably initially set up on a demo or small live account to start with. I will definitely load up on mxfxbook to share also. At the moment I am trading with a couple of free indicators I picked up. let me know your email if you want me to send through to take a look. Although it sounds like with all your working you really can only trade with a robot. I work for myself from home so have time to have trading screen open 24/7, except when I sleep lol
After reading the reviews and comments on the Forex Hacked thread on Donna Forex and Forex Peace Army I will give this one a miss. Too many negative reviews and issues with MQL lock etc. One robot I did come across that had good reviews was H-E Spider it doesn't trade as frequently but steady returns each month so far. I think orders are now temporarily closed so vendor can offer support to existing customers but it may open up again in the future, keep your eye out.
@aeronthomas: No problem. I have read all the reviews on DF and FPA, and it is up to the individual to decide what strategy they want to employ. There is no 'one size fits all' EA, every EA has varying degrees of risk, and again this also depends on the settings used too. Forex is a risky business - period! You can work at managing the risk as much as possible, but if pps are really so risk averse then I would suggest forex is not the business to be in! I would go as far as suggesting some of those pps want the returns but don't want the associated risk that goes with it. Hey, you can lose a lot of money, but you can make a heck of a lot more if you know what you are doing... just look at George Soros! 😉
Massive DD on account of SpiderWeb Profit Master EA trades. Still a good EA, but I am taking this off because I hate DD. I just hope EU reverses and I can close out those sells without too much collateral damage. 😕
Currently running: -Forex Hacked Pro (9 pairs) -GPS Forex Robot (4 pairs) -Boss-Traxxon EA (4 pairs)
Sorry to see your drawdown. I thought would just take another look as I have massive floating losses on my manual trading. Got swept up in emotions. Hopefully EURUSD rises above 1.32500 and can close out loosing Buy trades then need it to drop to 1.28 to close out my loosing sell trades. So basically hedged position. A lot to learn still.
You can make money as quickly as you can lose it in forex.
Actually, it is harder to make money, when you consider that:
Loss of 10% requires a gain of 11.11% to recover Loss of 20% requires a gain of 25% to recover Loss of 30% requires a gain of 42.86% to recover Loss of 40% requires a gain of 66.67% to recover Loss of 50% requires a gain of 100% to recover.
Odds are stacked against everyone. Harder to gain than to lose.
I wish I had learnt about hard stop losses earlier, with the percentage of trades I am getting right over 80% if I had better MM I would be happy. Oh well all is not lost will see what happens in the markets this week. I am looking at maybe investing in Scalpino, I like the idea of EA that's scalping and trades only very short duration. Birt's site lists Wallbreaker too, which I am looking into, the Magic Champ bot they have has been profitable for many years but returns a low percentage each month. Wallbreaker seems to be much higher return.
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