Working out bugs, gave back 3% profit on first day. Went chicken out on three positions and freeze after take profit on the other two. I think Ultra is not sizing initial lots correctly, or I am supposed to set them manually and don't know it. On 3,300, system is taking .02 initial lots and I am getting warnings that the initial lot size is too big for my account. I will clear this up and restart.
I will be giving Ultra a go early January after I have a holiday.
Thanks for sharing. This is good to watch.
Yes, it has been. You know how that one aw shit wipes out all the atta boys though!
I am running 6 live accounts and 5 demo accounts, but this one is always up on my 4th monitor during the day. I really want to hawk this one as best I can so I can learn how it breathes. I was going to not trade through the holidays, but I think I am going to. There will be periods of stressed margin, and Id rather learn to manage that through a slow motion train wreck of holiday volume than the full volume onslaughts later. I do have other accounts with Traders Way (one of the few 500:1 margin brokers that takes US clients) and transfers are almost instantly executed. If I stress this thing, I can drop another grand in (approx 30% of the account value pretty quickly to stave off a margin call. Assuming the account recovers, I'll drop that back out afterwards.
I hope you will share yours when you start. My sense is, that starting at different times will yield different results and that the systems may even stress at different times, since the grids develop the moment you start the system up.
Getting stressed pretty hard today, just a little more than a week into the system. This is definitely not for big money or scared money. 4 of the 5 pair were pretty much break even or small losses. EURJPY is strongly in the hole. I wound up doing a chicken out on the 4 break even pair to free up some margin. and I dropped another grand into the account (30%) just to make sure I don't get called. I am fully developed on the EURJPY so now its the only pair open and I must wait for the retrace. Hopefully this will close before the weekend.
Well, she blew out last night. It is amazing how had the EURJPY has run. Right through major resistance without a pause. I'm not sure adding the funds as a buffer is a wise thing to do. I am talking to Envy about this. They seem excited to add the buffer feature. Unlike others, I am not going to get rid of this myfxbook chart. I am going to run each new instance on the same one so I can sort of track this thing long term, or as long as I am willing to put me head in the vise. We'll start it up again after the first of the year.
With so many blown accounts since inception, I don't think it's worthwhile to put more money into this ea (not to include the stress when the EA is in big DD). I have learned my lesson the hardway and will not do it again.
If Forex envy gets accounts blown, why do people still use/buy/rent it? and why don't they look for a solution that is more safe, why isn't there a way to activate a cut losses before DD gets bigger feature? or something to manage the DD Is this a cent accoount? anyway, good luck going forward with forex envy
Financialarts posted: If Forex envy gets accounts blown, why do people still use/buy/rent it? and why don't they look for a solution that is more safe, why isn't there a way to activate a cut losses before DD gets bigger feature? or something to manage the DD Is this a cent accoount? anyway, good luck going forward with forex envy
No Financialarts, this was not a cent account. It was a dollar account.
There is no one solution. I am trading 6 different systems across three different brokers. In totality, I am doing quite well. My primary Envy system has been running since June with no problems. Profits are transferred out weekly and I am coming close to having my initial seed money back out of it.
Most people don't understand what Ultra is. It is not meant to be safe. It is unsafe, and wildly profitable. Envy has twice blown out an Ultra account. the first one made them 2,000% in two months before it blew, the second one made 150% before it blew. It just so happened I made 30% before it blew. That's the risk you take. Why do people buy lottery tickets? Why do people gamble? Ultra is trader gambling, nothing more. For the sake of discussion, lets say you were willing to gamble with 3,000 dollars. If I said to you, that once a day, you can put 3,000 in a machine that has a 60:1 win ratio over the long term. If you win, you get 300 dollars every day. When the one loss comes up you lose your 3 grand. Keep in mind the 60:1 is the long term ratio. You could have 3 losers the first month and then a string of winners for 6 months. Would you play? if the answer is no, then you shouldn't trade with Ultra. Simple as that. It is a high risk high reward system. Everyone knows the rules of the game going in, yet deep down, they hope they can beat the grim reaper of the game. Then when it happens, everyone is sad, angry, and accusatory of the developers. This system is literally for play money. While you shouldn't trade anything you cant afford to lose in Forex, that really applies here because you will lose it and quite often in the grand scheme of things.
hope you succeed, Just wanted to say, if you know that when DD gets > x, system crashes. you could easely built a solution to not lose all of the money, and recover some of it. meaning, you take out money as usually, but when it blows, at least some of your seed money is spared. Just letting you know that that might be a possible extra profit there, for you need to add less cash to restart.
But hey, I blow accounts as well, so. gl, hf, trade well
There's always a million what if's. You can lower the base lot size and lower the risk, the account may never blow out, and you wind up with the same product type as all the others (that actually perform) doing 7% a month. You don't change a system to match your trading style. You find a system that matches your trading style.
I am going to start this up again January 7th, again with 3,300 dollars and full risk. I will not add funds ever again. If it blows out before I recoup my seed money, I will try it one more time at the .5 risk setting. If that blows out, then I too will be done with it.
Good luck to you Financialarts. Merry Christmas as well.
I’m about 70 bucks shy of my original investment in just two days.
Having said that, now let’s curb the excitement a little. It’s going to take some time to validate this overall. If you recall, my first attempt netted 800 bucks in profit and a subsequent 4,500 loss. I started with 3 grand and dropped another 1,500 in to keep it from blowing and it blew out anyway. I know Envy made like 2,000% on their first pass and 150% on their second before they each blew out. I would like to make the other 3,700 back before this one blows, but we shall see.
I wanted to turn off the custom date and let it publish results back to December when the first attempt blew out, but it doesn’t seem to report correctly for some reason. Running the full time period, the closed profit line just stays pegged down at -99% even though it should have upturned nicely over the last couple days. I wanted to be completely honest about the long term gains and losses, but I don’t know if I will be able to.
Envy quit making their Ultra accounts public. I think this makes good sense from a political standpoint. Every time an account blows, you get these “young skulls full of mush” traders who do nothing more than point to the hard right edge of the chart and proclaim…SEE, SEE, IT BLEW OUT AGAIN!!!...Never mind that they would have made great returns by taking their profits out daily.
This system is definitely big dog territory. You either run fearlessly with the big dogs or you stay on the porch. This has to be money that you are comfortable in losing because you may lose several times before you hit that streak that makes it all back.
Well, I've captured 3,589 bucks and it aint even bed time yet. :-) Myfxbook isnt updating the last withdrawal for some reason. Not playing on the houses money yet but at this rate I will be by Thurdsay.
The account essentially blew out today on a USDJPY run. As of this writing, there's a couple hundred left in the 3,000 account. I plan on communicating with Envy and see if they blew out as well, and how long their run was. I think they may have started theirs 1/2, but I'm not sure. I did capture 6,200 dollars over the 4 days but this is almost too volatile for me as timing appears to be so crucial. I'm going to start it up again Sunday with a risk level of .5 and see how that works.
I am wondering if simply leaving out the jpy pairs might work in the current markets. Return will be much less, but it might actually survive it ... But current joy trends are simply deadly for martingales.
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