AlgoTradeSoft | Innovative EA (by AlgoTradeSoft) Quick Stats
Gain: +11736.87%
Drawdown: 2.41%
Pips: 1028.9
Trades: 1334
Won:
Lost:
Type: Real
Leverage: 1:100
Trading: Automated

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AlgoTradeSoft | Innovative EA Discussion
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knockroe

Member Since Sep 15, 2011  18 posts knockroe Jan 02 at 18:06
ATS results are difficult to see clearly as the broker FXCM takes the full commission of 4$/lot traded as a withdrawal.
So if you use the custom analysis in Myfxbook for the last 3 months you will see that the withdrawal is > 2 times the profit. I.e your account balance is dropping fast.

Unless you have a deposit of $250,000 with FXCM you cannot get a commission cost of < $8 / lot with this or other brokers. Therefore this System cannot make money for most traders. ATS has big money with this broker over many accounts and is getting the very lowest commission rate but he is loosing money for the past 3 months!

Also look at the balance from sept 2016 to July 2017 and estimatie your result with double or even $5 commission costs!
He should be using a different EA method to upload his trading results to Myfxbook but that would show a much less attractive result.

eogorman@
knockroe

Member Since Sep 15, 2011  18 posts knockroe Jan 02 at 18:08

https://www.myfxbook.com/files/knockroe/904C4C58D98B42ABA8012B9F29E7E615.jpeg
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eogorman@
JohnSwink

Member Since Mar 01, 2017  7 posts JohnSwink Jan 04 at 20:31
Are there any retail traders making money in this system?

knockroe

Member Since Sep 15, 2011  18 posts knockroe Jan 05 at 00:23
I don't know but if they are they are on = or <$4/ lot traded according to what I can see from the data analysis shown on Myfxbook

eogorman@
knockroe

Member Since Sep 15, 2011  18 posts knockroe Jan 05 at 00:25
The spread would also need to be close to 0.01 pip most of the time.

eogorman@
InvestorFX2

Member Since Oct 25, 2013  19 posts InvestorFX2 Jan 05 at 18:55
Hi, I am a retail trader. I purchased the Onnovative EA last year, had it setup by a trading expert colleague on a good VPS running small accounts on ten different brokers. All lost money. Trading costs exceeded tiny profits on most trades.

JohnSwink

Member Since Mar 01, 2017  7 posts JohnSwink Jan 05 at 23:36
What months did you trade? I noticed that this system made almost no profit in Nov-Dec 2017. My other accounts lost money. Did you use it in the months where Innovative EA showed significant profits?

Also, you said you purchased the software. I saw it for sale for $30,000. That is obviously for institutional traders. Is there a retail version of it?

InvestorFX2

Member Since Oct 25, 2013  19 posts InvestorFX2 Jan 05 at 23:52
It was trading around Jul-Aug 16 and it was tried on Atom8, Darwinex, Global Prime, LMAX, ADS, Aura, Axitrader, Finotec and others I cannot remember. And yes I paid too much for it, big mistake!

Pikasso

Member Since Jan 31, 2017  44 posts Scroooge (Pikasso) Jan 07 at 07:00
Amazing performance! Good job! But I think that broker must provide you very fast execution without slippage and low spread to let you eat the cake.

Trading system developer and strategy provider.
JohnSwink

Member Since Mar 01, 2017  7 posts JohnSwink Jan 07 at 12:32
Thank you all for the good advice. I am a US trader and cannot use FXCM. I trade with Forex.com, which has no commissions, but from what I am reading above, I would be eaten alive on the spreads, which average 2 - 3 pips. Closer spreads are only given on their institutional accounts. I have also traded with OANDA, which has slightly lower spreads. But neither broker trades in MyFXbook. I am also somewhat limited because I am trading in a Roth IRA, which requires a custodian for my accounts.


Innovative EA does not sound like a good fit for retail traders like me.

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Foreign bond investment (26 min)
NZD/USD holding steady near 0.6850 follo...(5 min ago)
EURUSD 1.15738 GBPUSD 1.31718
USDJPY 110.395 USDCAD 1.331

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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.