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FGT-Real01 (by forexgoldtrader)

The user has deleted this system.
forexmac
Aug 25 2011 at 10:49
2 posts
izzyt posted:
    I see that FGT-Real05 has crashed and blown out the account. Is there any chance you can tell us which accounts are using which settings? I'm assuming that account 5 was using very high risk settings. If possible, it would be nice to know what accounts 1, 2, 3, 4, and the rest are using.

Thanks,
Potential Customer


I can't stand watching this soap opera anymore. Why did you Faiz(is this your real name indeed) remove your FGT-Real05 account, blown, right?
Why are you not updating your system since the gold drop began on august 23-rd?

BTW you know who I am, forexmac comes from forexma + c for clone since you blocked me long time ago cause truth is so unpleasant for you. Yes, I registered new identity cause people like you don't have dignity to accept criticism and prefer to block people who make them feel uncomfortable with the sales of their doomed systems.

Forex Gold Trader Team (forexgoldtrader)
Aug 26 2011 at 03:34
80 posts
Hi Forexma or Forexmac,

Welcome back 😁

I removed it since account owner did not follow EA rule.
When account balance $10000, he using manual trade with huge LOT 😲
So better to remove it 😎

By the way i will waiting your new forexma, may be forexmacc 😇

Faiz Irfan is my real name 😝

Trading Gold & Silver for living!
Forex Gold Trader Team (forexgoldtrader)
Aug 26 2011 at 03:35
80 posts

izzyt posted:
    I see that FGT-Real05 has crashed and blown out the account. Is there any chance you can tell us which accounts are using which settings? I'm assuming that account 5 was using very high risk settings. If possible, it would be nice to know what accounts 1, 2, 3, 4, and the rest are using.

Thanks,
Potential Customer


Hi izzyt,

I removed it since account owner did not follow EA rule.
When account balance $10000, he using manual trade with huge LOT 😲
So better to remove it 😎

Trading Gold & Silver for living!
Forex Gold Trader Team (forexgoldtrader)
Aug 26 2011 at 03:36
80 posts

Merrygoround posted:
    I bought this EA some days ago. Gold peaked two days ago at 1900+, and the EA loved that. It made some very profitable trades. But what I suspected has come true: this EA has no money management whatsoever. When the gold started to tank, I noticed that the EA held on to some buy-positions made at the highest levels. My account is really not that big, so the equity dropped by almost 35%. I manually closed all trades and disabled the EA. A good thing too, it appears. Gold keeps going down. @ Faiz, do you realize how many accounts have been blown today because of your EA? Just look at your drawdown today! IMO any account less than 3k has no chance of surviving this, even with the smallest lotsize. I hope that a new version will come out that does know how to handle negative trends. Your current EA has a very serious flaw. Please fix it!


Please check member area.
Normal mode wont survive with extreme downtrend.
Safe mode can survive with extreme downtrend.


Trading Gold & Silver for living!
Forex Gold Trader Team (forexgoldtrader)
Aug 26 2011 at 03:38
80 posts

wealthsecrets posted:
    Hello Forex Gold Trader Team,

Are you trading gold with leverage? How much does it cost you to open a .01 trade?

And how many trades are usually open at any one time?

And what is the maximum amount of trades you have seen open at any one time?

Thanks,

Mike


Hi Mike,

1. We use 1:200, 0.01 lot costs me $17.63
2. Normal trend : 1-3 positions, Extreme Trend : more than 10 positions
3. Yesterday we have 15 buy positions and 10 buy stop positions

Thank you

Trading Gold & Silver for living!
izzyt
Aug 26 2011 at 07:24
13 posts

forexgoldtrader posted:
Hi izzyt,

I removed it since account owner did not follow EA rule.
When account balance $10000, he using manual trade with huge LOT 😲
So better to remove it 😎



Ah, I see. Thanks. So is this manual trading the reason his account was blown?

From this link here, we can see that the account did suffer a 100% drawdown:
https://eareview.net/live-forward-test/forex-gold-trader

criticize01
Aug 26 2011 at 08:39
1 posts
Hi,

This is my personal opinion after verified how this EA works (these can be right or wrong):
1. Generate Buy position only, after version 2 has been introduced Sell position. You can check FGT-Real09 to see how buy and sell position are taken.
2. Buy position only taken based on profit/loss calculation, example put another buy when equity is going down as amount of target profit example 400 point. If open position is more than 2 position the profit target is adjusted become 2 or 3 times first profit target , example become 800 or 1200 point.
3. All EA setting FGT-Real01 to FGT-Real10 have different Risk Management, this indicated by open lot size and target profit.
4. High risk setting whenever higher lot size and small target profit. EA probably will open 5 buy position if the price going down 2000 point and target profit 400. Then you can have open position generate lower equity compare to highest balance. You will stay in the market as long as your equity can support your position otherwise call margin will be happened.
5. Trading lot size can be set static (fix lot size) or dynamic (new lot size will depend on last equity/balance). I think dynamic lot size has higher risk compare to static lot size.
6. The new buy will be opened (always) if the price going down, new position are allocated using buy stop.
7. I do not think this EA is using any indicators, because always generate buy position at any market condition.
7. Risk management probably is not calculated automatically, that is why some account using high risk setting will blown away soon. I wish developer implement proper risk management hence nobody will surprise that his account meltdown when price going down after surprising profit due to his EA on high risk setting (big lot and small profit target).
8. Using this EA will benefit if the price increasing always higher that the profit target. But your account on risk if the price is decreasing a lot and your equity could not support it.

So using this EA like performing a soap opera if you do not know how you should set the lot size and profit target.

You can check also how much the equity is decreasing as gold price (you can verify if your self and your account can withstand with open loss position), here the account balance at the time I write this message (these can be changed as price moving/updating):

FGT-Real01 (fix 0.01 lot, fix profit target around 30 pips)
Balance: $34975.73
Equity:(82.80%) $28961.49
Highest: (Aug 24) $34975.73 , means open position still on loss about -$6,014.24

FGT-Real02 account has been closed (some people may think this account still run)

FGT-Real03 (dynamic lot size and profit target)
Balance: $143890.36
Equity:(81.99%) $117980.44
Highest: (Jul 06) $181157.13, means open position still on loss about -$63,176.69

FGT-Real04
Balance: $5346.00
Equity:(80.08%) $4281.15
Highest: (Aug 23) $5346.00, means open position still on loss about -$1,154.85

FGT-Real05 (no information available, may be account has meltdown)

FGT-Real06 (trade 0.1 lot, profit target 120 pips)
Balance: $67178.00
Equity:(73.59%) $49438.00
Highest: (Aug 25) $67178.00, means open position still on loss about -$ 17,740.00

FGT-Real07 (trade 0.01 lot, profit target 60 pips)
Balance: $2304.05
Equity:(49.22%) $1133.95
Highest: (Aug 18) $2830.10, means open position still on loss about -$1,696.15

FGT-Real08 (trade 0.4 lot, profit target 150 pips but sometime 50 pips)
Balance: $92140.00
Equity:(75.49%) $69552.00
Highest: (Aug 23) $92140.00, means open position still on loss about -$22,588.00

FGT-Real09 (dynamic lot size and profit target)
Balance: $61389.99
Equity:(94.34%) $57915.88
Highest: (Aug 23) $61389.99, means open position still on loss about -$3,474.19

FGT-Real10 (dynamic lot size and profit target)
Balance: $5655.25
Equity:(99.16%) $5607.60
Highest: (Aug 23) $5655.25, means open position still on loss about -$47.65

I hope can make clear for anyone who want to buy this EA.

cowpoop
Aug 26 2011 at 08:40
34 posts

forexgoldtrader posted:
    
izzyt posted:
    I see that FGT-Real05 has crashed and blown out the account. Is there any chance you can tell us which accounts are using which settings? I'm assuming that account 5 was using very high risk settings. If possible, it would be nice to know what accounts 1, 2, 3, 4, and the rest are using.

Thanks,
Potential Customer


Hi izzyt,

I removed it since account owner did not follow EA rule.
When account balance $10000, he using manual trade with huge LOT 😲
So better to remove it 😎



FGT-Real05 Blew TWICE. not just once.

Also account 06 and 07 were also deleted when Gold had a another drop a few months back


ALL BLOWN
https://www.myfxbook.com/members/forexgoldtrader/fgt-real06/89091
https://www.myfxbook.com/members/forexgoldtrader/fgt-real05/84148
https://www.myfxbook.com/members/forexgoldtrader/fgt-real07/107557

Then Replaced with new accounts with the same Name.


When will your accounts be UPDATED?

Forex Gold Trader Team (forexgoldtrader)
Aug 26 2011 at 08:53
80 posts
criticize01 = cowpoop = forexmacc

Welcome back guys..

We have serious DD but still survive..

We have deleted all mixed trading (EA + manual by owner).

I can guess next one will be criticize02, cowpooop, forexmaccc 😄

Trading Gold & Silver for living!
Myk2elS2ilver
Aug 26 2011 at 09:06
150 posts
I can not decline the points of criticize01. Fact is, that an extreme decline of the gold price eventually blown out even the safest settings account.

In 2008 I was the victim of such event with futures (SI and GC).
I had both silver and gold futures.
The silver price was on that moment $23,84 (March 2008)
I had calculated a margin that the lowest price could not drop below $12 (drop of nearly correct:100%!)
Still the price dropped to $7,84!

For gold: gold was $1033 on 17 March 2008
I had calculated that it could not drop below $850. That number was at that time a very important number.
Still it dropped to $689!
Result Huge losses

IF such event this time occurs again, the even with the safest settings of the bot, the account will be blown out.

That is a risk you must be willing to take.

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