alpo posted: interesting EA EA is presented as automated. A significant variation order size seems to indicate the order manually, and therefore the method of mixed. Part of orders is no s/l Please explain.
its a fully automated EA which works perfectly. and its a martingale system, so its normal to see an increase in the lot size.
Can't be 1:1 as indicated as the system opened 19 trades @ 0.01 Lot size before the first close. Without leverage that would have required $19k in the bank as against the indicated $5k. $ profit from the pip gains indicates they were based on fractional sized 100k Lots.
Leverage is 1000:1 it's a penny account so every dollar is actuallly a penny. This broker only allows 1000:1 leverage up to 1K. So it will be interesting to see how they handle this account when they cross that liine. Which won't be long at this rate. Tim
I did a detailed equity cash flow balance analysis on the Envy Power account and it blows with leverage of 200 or below. At 300 and above it stays out of trouble. The data, SO FAR, suggests a leverage of 500 will work well.
I once won a lot of money at the Black Jack tables, over 3 years, doubling down after certain losses. Never blew my bank but could never shake the concern at what mother nature may deal up.
Randomly placing orders and then using a Martingdale or grid system to make up for a bad / random initial order placement is a pathway to eventual ruin. I'm doing further work to analyze the originating order win/loss ratio. If that can be shown to have an excellent win/loss ratio, then this EA may be worth further effort.
well right now its at 58% winning odds, better than blackjack! But the average loss is 10 more pips than a win, so that is still an issue. If it were 1:1 win/loss ratio, and 58% odds we'd have a money maker
socalengineer posted: well right now its at 58% winning odds, better than blackjack! But the average loss is 10 more pips than a win, so that is still an issue. If it were 1:1 win/loss ratio, and 58% odds we'd have a money maker
lol, if there's an issue, then the issue is with u. this is Martingale...n u r counting pips instead of the $$$ it makes?
Once lived there. Nice place. Engineer as well. Retired now.
When you increase the Lots size to recover losses, you can forget a straight adding up of the pips as the eventual high lot size win generates more equivalent winning pips than losing pips.
As for BJ I could pull about 2% odds advantage against the house. Not card counting but something similar. That and the way I used the double bet sizes increases kept me from blowing the bank. Very hard on the nerves though. Was finally asked not to come back as the Casino was not my private bank that I could make continual withdraws from.
My initial analysis of the opening trades (not the trades following a loss) indicates Envy wins more trades than losses. Means the loss recovery trades are not random and there is a good probability of not blowing the bank as other trade loss recovery EAs can do.
you are right, there is nothing random in this EA. when opening a trade in which direction is simple, the way the TP & SL is placed is a formula based on fibonacci. with a rebate based account, its amazing, I double the wins with the rebates. the only problem of the current version 2.1, there is no move of the TP when the swap raise. so I have few batches of trades resulting in negative profit due to this issue. (I hope it will be fixed in power edition)
Ok as for the leverage.. 200:1 would require a larger balance and a different set file. The trades aren't randomly placed but logic dictated by patern rules. When it takes losses it takes bigger wins at the same time in baskets of trades so you pretty much never get a reduction in balance. The old version had an issue with Long steady or Long Fast trends but I'm told that isssue has been fixed in this version. Tim
I have attached an Excel spreadsheet with the latest Envy Power Open and Closes placed in time sequence so it is easier to see what happens when and the effect on the available cash reserves.
Looks like the UJ trade basket closes from 04.11.2012 15:39 (line 3,222) onward really drove the profit spike. Note the cost of the last UJ buy of 13.54 Lots at line 3,152 cost around 13% of available cash. Had that not gone well, there may have been enough cash to double it again but then it would have been all over.
Now Envy would have handled that situation (needing to open another doubled UJ trade which would be close to a MC) is something only Team Envy would know.
when using forex envy, you have to take a close look at the % of free margin. in 'normal' operation, you should stay higher than 5000% when going below 300%, you start to be in trouble. and you can have issues only with the long + short cycle together.
but the EA will not double all the time, its trades. everything is correctly balanced and calculated. this EA is never out of control.
the UJ with a trade of 13 lots is the maximum opened, the EA will not double it again. (the size will change based on the initial lot size)
as of now its the best EA I ever used. risky, but the only one with constant profit (before I get a MC if more than 1 currency goes in the bad direction...) check the linear curve of the accounts, its clear...
I like what I see in this EA. It has brains. As you say it seems to never lose control. Nice trick to trade fixed lots and use max leverage to reduce cash tied up in opening the trades, which gives Envy more head room before an MC event. Smart use of leverage. Smart EA.
So it seems we need a Broker with a leverage of 500 or 1,000, max MC of 10% (I'm happy with 0%), STP, ECN, 5 digits, 0.4 pip avg spreads, 0.3 or less pips commission per standard lot per turn, StopLevel of 0 or 1 point, order modify to order modify cycle time of no more than 300 ms (3 trades per second), 1 ms latency (Ping time) to the brokers server and a nice place for a holiday.
See you there. As for Risk. No Guts No Glory. Or as we say down under, 'You gotta be in it to win it'.
the leverage is not all, you have to use micro or pico account. but again, you'll have a lot of information on the birt site, and for sure the official site.
4 or 5 digits is not an issue, fast execution, not an issue too. this EA doesn't required a lot of speed. you could get few points maybe... the new powr edition will use hidden SL/TP, so no modification to send to the broker, which reduces the traffic and potential speed issues. but I prefer a rebate based broker, like instaforex. fixed spread of 3pips, not so fast execution, but with 1.7 pips of rebates.
when I compare my results with other live account with lower spread, I don't see a difference in the profit, but I don't see additional profit coming from rebates too... So I think I have a winner setup. for a small amount... the day I'll spend 100 000$ I will be happy to switch to another broker ;) but its not for tomorrow....
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