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Forex Envy 3.0 Power Edition (discontinued) (By forexgermany )

Gain : -97.38%
Drawdown 98.07%
Pips: -10246.1
Trades 1680
Type: Real
Leverage: 1:500
Trading: Automated

Forex Envy 3.0 Power Edition (discontinued) Discussion

Dale C (dalecam)
Aug 23 2012 at 18:35
76 posts
Hi There,
Its me again! Are you running Long and Short Power Cycles?
Just beware, if you get margin called, and the broker closes out your biggest position, Envy will open it right back up, which in turn will trigger the broker to sell it again, and this cycle continues until you stop the EA. This happened to me yesterday. You can check my account if your interested - I made it public.
Thanks in advance,
Aug 23 2012 at 19:33
146 posts
Yes, long and short with default settings. I did lose one of my demo accounts yesterday, so I'm considering to reduce the risk factor for the short cycles to 0.5.

Thanks for the warning. Is this intended behaviour of the EA or just an unexpected feature?
Dale C (dalecam)
Aug 23 2012 at 19:42
76 posts
Hi, I dont think it was intended, they probably just didnt think of the possiblilty this would happen. Ive notified support of the bug, but they simply replied 'if you want less risk, use the High Volatility setting for the short cycles'.
So not sure if they took me seriously!
Aug 23 2012 at 20:09
25 posts
This is a grid martingale EA, which means that positions are based on distance from previous trade and multiplier. How is the EA supposed to know, if it is supposed to stop unless you deactivate it? The conditions for the next level trade are met, so the position is opened (again). That is how it works ...
Dale C (dalecam)
Aug 23 2012 at 20:48
76 posts
deathlord - it could check margin. If there is no margin left, dont open a new trade - becasue if it does, the broker will automatically close it instantly. Thats what im suggesting be done.
Aug 23 2012 at 22:50
25 posts
hm ... isn't that more a broker problem that the broker shouldn't allow to open that position in the first place? If there is not enough money, I can't open additional positions with my brokers ...
Aug 24 2012 at 13:08
2 posts
I would imagine the broker would stop any trade being made when you have 0% margin... but if you have 1% or 2%, then I'm sure the broker will let you go for it - especially the moneymaking ones as they're wanting you to fail so they can win anyway.
Dale C (dalecam)
Aug 24 2012 at 17:07
76 posts
Exactly madman. Also deathlord, when the broker sells the biggest position, it frees up some margin, so therefore you CAN place the next trade as your margin would now be just above 0, and the ea does, but ENVY opens the same massive position that was just closed. Therefore - i again stress the ea should check the margin before placing the next trade, or the vicious cycle would drain the account in a few minutes.
Aug 24 2012 at 17:31
25 posts
or the vicious cycle could generate rebates like no other ... :D
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