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FOREX SCALPINO ROBOT (LIVE 1) (By FXScalpinoRobot )

The user has deleted this system.

FOREX SCALPINO ROBOT (LIVE 1) Discussion

ForexPro
May 31 2013 at 17:10
382 posts
Looks like pre Asian session scalper..
Ozzie Matt (aeronthomas)
Jun 09 2013 at 16:31
1557 posts
What brokers do you recommend for this EA? thanks.
Ozzie Matt (aeronthomas)
Jun 09 2013 at 16:35
1557 posts
I notice most trades have hard TP of 8-10 pips and stop loss of 30-33 pips. Why then is the actual profit per trade around 4 pips, is the rest slippage? just wondering why the trade closes before the TP is hit. thanks
FxMasterGuru (FxMasterGuru)
Jun 09 2013 at 20:28
1608 posts
aeronthomas posted:
I notice most trades have hard TP of 8-10 pips and stop loss of 30-33 pips. Why then is the actual profit per trade around 4 pips, is the rest slippage? just wondering why the trade closes before the TP is hit. thanks

I guess it has a trailing stop moving to 3-4 pips profit at certain profit level, and apparently (as of now) the price could never reach full TP level before testing back to the trailing stop level (best trade ever +5 pips).

Also the full SL has not been hit by any trade as of now (worst ever trade -17 pips), which means that the SL is probably dynamic with a hard SL around 31-33 pips (in case the bottom fell out).

By the way, it is interesting that the EA trades only in SELL direction.
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Ozzie Matt (aeronthomas)
Jun 11 2013 at 06:17
1557 posts
FxMasterGuru, it does looks very interesting, can't see many reviews for it on the net or anyone trying it on donna forex, I don't want to be the first to jump in. will give it a bit more time I think. With a tight broker maybe Ic markets or Axi trader with good spreads thinking it could do well.
Ozzie Matt (aeronthomas)
Jun 11 2013 at 06:17
1557 posts
BTW thanks for your response about trailing stop and dynamic SL, I think both are good features for an EA
FXScalpinoRobot
Jun 26 2013 at 09:38
50 posts
aeronthomas posted:
BTW thanks for your response about trailing stop and dynamic SL, I think both are good features for an EA

ForexScalpinoRobot uses a dynamic exit strategy too.
Jarora
Jul 11 2013 at 05:42
371 posts
FXScalpinoRobot posted:
aeronthomas posted:
BTW thanks for your response about trailing stop and dynamic SL, I think both are good features for an EA

ForexScalpinoRobot uses a dynamic exit strategy too.

LOSS 25%!!!

https://www.mellyforex.com/expert-advisors/forex-scalpino
FXScalpinoRobot
Jul 11 2013 at 07:29
50 posts
Jarora, yes Melly made loss because last night they used EA over news whit Highest Impact on Market.
EA is news sensitive.

FOMC Meeting Minutes

Fed Chairman Bernanke Speaks

10-y Bond Auction

Jarora
Jul 11 2013 at 07:36
371 posts
FXScalpinoRobot posted:
Jarora, yes Melly made loss because last night they used EA over news whit Highest Impact on Market.
EA is news sensitive.

FOMC Meeting Minutes

Fed Chairman Bernanke Speaks

10-y Bond Auction


You stop test EA and Melly no?
Jarora
Jul 11 2013 at 20:57
371 posts
FXScalpinoRobot posted:
Jarora, we don't test EA, we using on Live (REAL) accounts.

Live 1: $303
https://www.myfxbook.com/members/FXScalpinoRobot/forex-scalpino-robot-live/564819

Live 2: $1260
https://www.myfxbook.com/members/FXScalpinoRobot/forex-scalpino-robot-live-2/604151

It avoids the question. I do not care your deposits. You stop test (real) EA and Melly no?

https://www.mellyforex.com/expert-advisors/forex-scalpino
FXScalpinoRobot
Jul 12 2013 at 10:16
50 posts
Jarora, don't be rude.
You can watch mellyforex every day, and to decide are we stop or not.

Kind Regards.
FxMasterGuru (FxMasterGuru)
Jul 12 2013 at 10:16
1608 posts
It is strange that Scalpino was not running on the night of July 10th on the accounts connected to MyFxBook. I have purchased this EA and it has practically wiped out my account on July 10th during those 4 hours when EURUSD was climbing few hundreds pips within a few hours. Same as seen on MellyForex: https://www.mellyforex.com/expert-advisors/forex-scalpino

Scalpino has shorted the fast uptrend without hesitation losing 31 pips with each pop while targeting 4. Which it rarely got.

I wonder how the 'masters' were so wise not to run the EA on July 10th... This date is clearly missing from the history.
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FxMasterGuru (FxMasterGuru)
Jul 12 2013 at 10:17
1608 posts
A simple NewsFilter feature could have prevented the Doomsday caused by this EA for clients like me. Most people still have a daytime job and cannot 'babysit' an EA turning it on and off. Apparently the developers were more concerned about their own profits than their clients. (Doomsday: https://www.mellyforex.com/expert-advisors/forex-scalpino, if not deleted)

Even if they did not get the obvious idea of including a NewsFilter or a 'DayFilter' (similar to Friday's 'no trade') option, as a professional courtesy they could have dropped a group e-mail to their paying clients that they should turn off the EA on July 10th.

ONE MORE THING: The EA has forgotten to place a hard StopLoss and ProfitTarget for one of the bad entries, so I had to close it manually with a 250 pips loss (when I noticed it accidentally). If it had happened once, it can happen again, and without SL your account can be wiped out within 12 hours.

I guess the reason of 'no SL' is that when the spread becomes larger AFTER a position had been opened, the EA basically stops working and just blinks that the 'spread is too large'. It is a good feature to prevent further entries, however, when it blinks it does not close trades with the smaller 'hidden' 4 pips profits. It happened on multiple occasions (at least the 'hard' PT was in place).

In my case (on July 10th) probably the spread had widened immediately (within 1 second) after a new entry, so the EA stopped working and could not place a Stop Loss resulting in a naked trade at the worst possible time. Fixing it will not bring back my account, but future subscribers should be aware of this bug.
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Jarora
Jul 12 2013 at 10:53
371 posts
FXScalpinoRobot posted:
Jarora, don't be rude.
You can watch mellyforex every day, and to decide are we stop or not.

Kind Regards.

This is not EA but manualne trading. When you do not have time to monitor the market so you will lose money. This same do FX Growth Manager.
FXScalpinoRobot
Jul 12 2013 at 22:06
50 posts
FXMasterGuru, are you read our previews post about trading at 10/July night???

We said:
'yes Melly made loss because last night they used EA over news whit Highest Impact on Market. EA is news sensitive'

FOMC Meeting Minutes

Fed Chairman Bernanke Speaks

10-y Bond Auction
........................

FXMasterGuru, we don't provide basic forex knowledge or any seminars. So, every serious trader know that almost every Scalping EA or any other Ea is risky to use over NEWS WHIT HIGHEST IMPACT ON THE MARKET: FOMC and BERNANKE SPEECH.
At 10/July night both this news happen whit only 1 hour difference!!!

FXMasterGuru you said: 'spread becomes larger' . SORRY BUT WE ARE NOT BROKER! YOU NEED TO COMPLAINING TO YOUR BROKER ABOUT SPREAD!

FXMasterGuru, you need to reinstall EA. From member area on website, download EA and instal (Old delete from MT4).
Contact us on e-mail.

Kind Regards.
FxMasterGuru (FxMasterGuru)
Jul 13 2013 at 20:28
1608 posts
FXScalpinoRobot posted:
FXMasterGuru, are you read our previews post about trading at 10/July night???

We said:
'yes Melly made loss because last night they used EA over news whit Highest Impact on Market. EA is news sensitive'

FOMC Meeting Minutes

Fed Chairman Bernanke Speaks

10-y Bond Auction
........................

FXMasterGuru, we don't provide basic forex knowledge or any seminars. So, every serious trader know that almost every Scalping EA or any other Ea is risky to use over NEWS WHIT HIGHEST IMPACT ON THE MARKET: FOMC and BERNANKE SPEECH.
At 10/July night both this news happen whit only 1 hour difference!!!

FXMasterGuru you said: 'spread becomes larger' . SORRY BUT WE ARE NOT BROKER! YOU NEED TO COMPLAINING TO YOUR BROKER ABOUT SPREAD!

FXMasterGuru, you need to reinstall EA. From member area on website, download EA and instal (Old delete from MT4).
Contact us on e-mail.

Kind Regards.

Thanks for your arrogant advices and recommendations, but I guess, you have not understood my concerns:

1. Most people have a daytime job and cannot 'babysit' an EA - turning it on and off based on 'who says what' - so a SIMPLE NEWSFILTER could have been useful.

2. I have no problem with the spread widening after a trade had been opened. Or before. Why should I complain to my broker...?? My problem is that your f*** EA stops working completely when the spread becomes larger!! It does not even take the 4 pips 'hidden' profit. Which is a small issue.

What is a BIG-BIG problem is that if the spread becomes larger - than the set value - immediatlely(!) after a trade had been opened, this EA DOES NOT PLACE A STOP LOSS! Why? Because it stops doing anything.

In other words: such trades could go on 'naked' forever, if not noticed. On July 10th one short trade opened by your EA was already in -250 pips when I noticed it. Why? Because IT DID NOT GET A STOP LOSS ORDER! Got it...? Capice...?
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deysmacro
Jul 14 2013 at 01:11
275 posts
@FxMasterGuru

I think I understand the weakness of the EA. I also have such problem in the past and the reason why the EA is behaving like that is pretty simple enough.

The spread logic have been put at the upper part of the whole coding process, so, when the spread logic hits, it will set its logic top priority and then stop the rest of the whole EA logics.

To circumvent this weakness, the spread logic only needs to be placed inline with the trade opening logic. A simple TRUE or FALSE is all it takes. When the spread logic hits, it will stop opening trade but still controls any floating trade. Its that simple.

Most probably the EA author don't realize how simple it is to code the EA in such way.

I also have the knowledge of how the newsfilter works using FFCal. Code it properly and it will saves you a lot of trouble of babysitting the EA.
Past experience usually helps present self
HFT Group (jonpearce)
Jul 14 2013 at 02:28
86 posts
Vendors that market a 'set and forget' EA should build in a news filter if the EA is susceptible to losses on news announcements.
Having to monitor news announcements defeats the purpose of having an automated strategy.

Megadroid achieves this by having a remote disable feature that the vendor activates when news is pending during its trading window.
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