Forex Envy Power Long Only as of 1/27/13 Discussion

All trades manually closed on 6/15 due to the expected extreme volatility associated with the new Greek elections and European crises.

Are you using FE Power Edition ?

Not yet. Power edition is in beta but has not been released.

why does the EA not handle extreme volatility? what is extreme volatility? how is it quantified? what are the data and stats that back up this ambiguous and apparently arbitrary notion? who is playing God here?!?

Michigander - why did you redeem profits when you did? What is THE rule or YOUR rule on this? thanks.

Set files for Envy are based on portfolio sizes. The set file I have is good for 20,000 to 27,000 dollars. Set files configure your lot size based on margin and cash on hand. I actually let it go a little too long. When I get to 27K again, we'll transfer 2K out into the savings account.

Hey Mich, yours is the only envy I've seen that has come out of 2012 untouched! I will have to try and get the old version of envy and try your settings out!

Wow...This week, all I can say is WOW. Sovereign interventions everywhere Yens running, Dollars running against the CAD. I chickened out of everything to keep the account from blowing. I think I am still whole when I account for all the profits I transferred out, but its still a bitch giving back all you made in 8 months.

Time to regroup...

Are you using FE Power Edition

Napoleonmiao;

I wasn't using Power on a live account. I have been demoing it since November. That demo account is being stresses, but it hasn't blown out. https://www.myfxbook.com/members/Michigander/forex-envy-power-long-cycle/449740 One of my considerations may be to go to Power without the yen trades. I've got some stewing to do this weekend.

I restarted Power Longs with 0.67 risk as per ultracats settings: https://www.myfxbook.com/community/trading-systems/fe-ultra-b4-power-long/334213,1

He doesnt run the yen pairs. I left them on. Am now considering turning them off as my private account, which I restarted earlier on, is now at a level 14 basket on the EURJPY.

Power Long 0.67 risk: https://www.myfxbook.com/members/juham/fe3-power-long-067-risk/471247

Shame about this account though, it was doing so well

I am switching this account over to Envy Power. I have been running Power as a demo on another account since November and, while it is currently being stressed due to the yen trades, it has not blown out like my (2) Versions of 2.1 did. I will leave the YEN trades off for the time being. Once the Yen stabilizes, I may bring them back on at a .5 risk setting.

I always knew that this type of event would happen and have always expected it. Its still a bitch when it does. I don't think I should trust any of these systems over another because you never know what event will strain any particular pair. I am re-balancing everything this weekend. Instead of trusting one system more than another, I am just going to equal dollar weight what I am trading across 4 systems. These are Envy Power, Hacked, Forex Identity, and Forex Grid Trader. As I have watched them, when they stress, they appear to stress at different times.

All profits will continue to be transferred into a savings account. The savings will be traded using two very low risk systems, Educated Hacked and Kangaroo. The base lot size for Hacked is going to be double Jayman's recommendation so will trade .01 per 10K instead of .01 per 5K. I have demoing .01 per 8K since mid October and it has not stressed at all and is doing 5% month. Kangaroo currently recommends trading the AUDUSD pair, it rarely trades but the most are winners.

Good luck with that. From my backtests, you should run 0.01 STD LOTS with 100k. Otherwise, sooner or later your account will be wiped out.

Regards!

Hi Ken:

I can see that you are big fan of grid martingale EAs, and you might know them well and avoid lots of margin calls, may be you can make some money but its risk level is too high.

I was user of Forex Envy, It was nightmare, They kept on erase blown up accounts and hidden them, so people beleive them winning only, because of this, I was margin call 5 times, Each time MC, it blew up all money in account, I lose big money 2-3 year my salary.

After than, I am very careful with Grid martingale EA, recently, I find some good non-martingale EA with best working condition for them and I recovered all my lose money.


 

Rick;

Thanks for the words of caution. Its not that I'm a fan of martingales, its just that I've had very little luck finding anything else that had reasonable equity curve. if you could drop a name or two of what you are comfortable with, I would greatly appreciate your opinions.