ForexWarrior.net GBP/USD_set2 (By Forex_Warrior)
The user has deleted this system.
ForexWarrior.net GBP/USD_set2 Discussion
Mar 23, 2013 at 14:48
517 Views
5 Replies
May 14, 2013 at 21:15
62% and counting..... What a bad luck... every grid will eventually blow up, but i must choose the worst date to use this EA since it seems to be working fine since Jul 2012.... Guess is just a matter of hours until I say goodbye to my real account....
May 14, 2013 at 22:29
I hear your pain bro. You might be about to lose your account plus the $240 you paid for this EA.
I contend that this EA is not so much a grid as a martingale (lot sizing on current open GU positions is 0.67, 1.12, 1.86, 3.10), which is far more dangerous than a grid. The best of the GU grids out there, like GridMeUp, are being beaten up real bad by having long trades when the GU currently seems to be trending south, but the martingales are facing near complete destruction. The other day I saw a Blessing martingale (free EA) on GU blow up, and it had started off at the best date, a couple months back, and the luck of a good start was such that it had turned 1K into 40K (2500% return). So if there is a lesson to be learned, there is more than just starting out on the best date; you have to be able to end on the best date. Even if you start out at the best date, you have to be lucky enough to somehow foresee the upcoming market trendiness and deactivate the EA before that trend blows your account.
I contend that this EA is not so much a grid as a martingale (lot sizing on current open GU positions is 0.67, 1.12, 1.86, 3.10), which is far more dangerous than a grid. The best of the GU grids out there, like GridMeUp, are being beaten up real bad by having long trades when the GU currently seems to be trending south, but the martingales are facing near complete destruction. The other day I saw a Blessing martingale (free EA) on GU blow up, and it had started off at the best date, a couple months back, and the luck of a good start was such that it had turned 1K into 40K (2500% return). So if there is a lesson to be learned, there is more than just starting out on the best date; you have to be able to end on the best date. Even if you start out at the best date, you have to be lucky enough to somehow foresee the upcoming market trendiness and deactivate the EA before that trend blows your account.
“Ah, but a man's reach should exceed his grasp, or what's a heaven for?” Robert Browning
May 16, 2013 at 07:40
Hey, if you get your refund, at least you'll get some money back. Hopefully you didn't put too much money in the real account for this martingale. Martingales can be fun, but don't pay money for them (there are plenty good ones out there that are free), and test them for a long time on demo accounts to the point you are comfortable with them. Then when you are, only trade them on small real accounts, such as nano accounts, so you are not losing much when they blow up.
“Ah, but a man's reach should exceed his grasp, or what's a heaven for?” Robert Browning
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