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Flex EA 3x Retrace (By ForexFBI )

The user has deleted this system.

Flex EA 3x Retrace Discussion

Michael Ogbonnaya (odomike)
Jun 23 2015 at 06:47
2 posts
I am keeping an eye on this EA. Looks promising but, I dont know what the long term profitability will look like.
Better to make little profit than to loose.
bradmanfx
Jul 16 2015 at 07:39
7 posts
right now, Michael, it is down 27%, 3 trades on 3 pairs tanking. Hope the guy has a DD cutoff.
I have this same strategy on my live account. It took the same trade as this account yesterday on eur/cad, but mine has not opened these 3 trades on 3 pairs.
I also have a 100 pip stop loss. 0.03,0.06.0.12 so I would lose about $210 per pair failing. Or $630 on a $1500 account.
MY VT=8
Case (rodneycase)
Jul 24 2015 at 08:30
4 posts
Are we able to get the Flex EA settings for this?
FXtrader2010
Jul 27 2015 at 08:31
724 posts
Wow this has had a great run so far! Really impressed with this. Watching
Michael Ogbonnaya (odomike)
Jul 27 2015 at 14:34
2 posts
bradmanfx posted:
right now, Michael, it is down 27%, 3 trades on 3 pairs tanking. Hope the guy has a DD cutoff.
I have this same strategy on my live account. It took the same trade as this account yesterday on eur/cad, but mine has not opened these 3 trades on 3 pairs.
I also have a 100 pip stop loss. 0.03,0.06.0.12 so I would lose about $210 per pair failing. Or $630 on a $1500 account.
MY VT=8

I see that the three trades are still open. I have to say that it can get quite scary to think of loosing $610 out of $1500 ... that's close to half the total equity.

Will keep watching the EA though to determine if I'll invest my money in it.
Better to make little profit than to loose.
bradmanfx
Jul 29 2015 at 06:37
7 posts
I guess the USD CAD was closed out manually at about 9% loss.
The very same second the 3 floating trades closed, it opened another USD CAD position.
So I am not sure what was happening, if something was programmed into the EA or if something manual happened.
Either way, my default took the same EURNZD that this 3X took.

If anyone is thinking of trying this strategy, I suggest you stick to default. That's my 5 cents...

😕
FXtrader2010
Jul 29 2015 at 08:12
724 posts
bradmanfx posted:
I guess the USD CAD was closed out manually at about 9% loss.
The very same second the 3 floating trades closed, it opened another USD CAD position.
So I am not sure what was happening, if something was programmed into the EA or if something manual happened.
Either way, my default took the same EURNZD that this 3X took.

If anyone is thinking of trying this strategy, I suggest you stick to default. That's my 5 cents...

😕
hmmmm interesting! He was earning good swap on it LOL
Since when does this trade EURNZD? Not on recommended pairs list.
bradmanfx
Jul 29 2015 at 10:30
7 posts
click on 'summary' and you will see that EUR NZD is the pair that has the most trades on this account.
the most longs
& second most shorts
combined: most trades...
spiked_silver
Aug 24 2015 at 13:50
8 posts
BOOM. Account Blown. Really didn't see this coming :/
Jonny (jonnyrich007)
Aug 24 2015 at 15:39
72 posts
See? Grid, martingale blows accts! How many more examples do you need? It blows accounts!
Never ever ever give up!!!
pblam
Aug 24 2015 at 17:08
33 posts
What Happened!?!?!
FxMasterGuru (FxMasterGuru)
Aug 24 2015 at 19:51
1608 posts
Another Martingale Story...

Attachments:

Please click "Vouch" if you liked my post. If not, just put me on your Blocked list. :o)
FxRainbowTrader
Aug 24 2015 at 21:06
6 posts
pblam posted:
What Happened!?!?!

What happened...?? what happened...??

TYPICAL MARTINGALE destruction.

That is what happened...!!!! It looks good until it is destroyed.
Jonny (jonnyrich007)
Aug 24 2015 at 22:01
72 posts
3xRetrace did not even last 4 full months. And they took off the link from sales page. This must be a lesson to potential buyers of GRID, MARTINGALE. Grid is bad enough but it is combined with outrageous martingale.
Never ever ever give up!!!
Irishmist
Aug 26 2015 at 21:01
136 posts
Not all grid traders are bad. I would not trade anything else

look at his https://www.myfxbook.com/members/FX_Hunter_net/fx-hunter-real/694954

It has been consistent for 3 years. The developer updates the strategies constantly. It was a close shave with the audnzd as it did make a drawdown of 69% but then he changed and revised that strategy and made it a lot more conservative with a max drawdown of 18%

Excellent Grid story and I am using it amongst other grid traders that I developed myslef
Case (rodneycase)
Sep 01 2015 at 13:38
4 posts
Not the last time a Martingale system blows an account. I've used demo accounts on this for years trying to come up with the magic formula.

The best I can come up with is make as much as you can over several weeks or a month, withdraw the profit and put it aside, make as much as you can again, withdraw, etc.

If you double the account take the profit, if the account blows then add back in what you had already taken out.

Not a very consistent approach to trading, risky as you can blow several accounts in very short succession when the market is crazy and then when you make long term profits the mind-greed takes over and you start to pushing the limits only to have it all taken away very quickly.

Still working on consistent approach to this strategy. I know there is one, just not sure of the rules ....... yet!
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