FRWC HiRider Advanced Demo Discussion

HiRider Advance is built with 210pips stop-lost is not recommended. This is because:

1) 10 Trades waiting to close at 210pips stop-lost might take days or even weeks. By default, trades are limited to 10 for safe trading. New opportunity trades are missed.
2) 210pips stop-lost versus 12pips take-profit is a loosing game for trading in long term.
3) this EA uses scalping for trading. 10 trades might open at different pricing, hence all trades close at different pricing. Some trades profit and some might not when not hitting the 12pips take-profit.

Unfortunately, HiRider Advanced does not come with stop-lost settings.

Yes...FRWC does need to improve this robot...i normal trading situations...not like the gap up we had on monday...this robot is pretty good...i have cut it's trades back to 5 with smaller lot sizes.
shaun

shaunieok posted:
    Yes...FRWC does need to improve this robot...i normal trading situations...not like the gap up we had on monday...this robot is pretty good...i have cut it's trades back to 5 with smaller lot sizes.
shaun

Hi Shuan,
If FRWC team ain't doing anything to improve on the HiRider Advance, I think MT4 script should be able to help to control trades.
I'll be Google for a solution on this.

My suggestion is to close trades manually for now if HiRider Advances already hit the 10-20pips losses. it's not advisable to wait for it to close at 210pips even you have only limit to 5 trades for trading.

HiRider uses scalping, my recommendation is to use a brokerage with lowest spread and a reliable platform with minimum slippage problem. I'm currently using BeamFX, so far so good. 😄

I'll look into beamfx...it's hard to find a good broker these days...they all seem to have their own different issues, from large margins to large spreads..thx

I am using Advanced Hi-rider on l$1000 live account with FXCM with good results and no loosing trades. Account up $33 after two weeks of trading. Low risk is the key with this very accurate robot.

Low risk? Risk reward of 20:1 and you call it low risk? It's almost certain you won't survive trading with this robot for a long run. At best, you will just break even.

Trade price extreme in 5 minute chart using any technical indicator with the same risk reward as HiRider Advanced, and the result willl be the same. For example, when price hits the upper bollinger band in 5 minute, short with TP 12 pips and SL 210 pips. Or when RSI hits 80, short with TP 12 pips and SL 210 pips.

This kind of simple technique can be coded in MQL in less than 30 minutes if you study the language a little bit. And you don't need to pay $1000.

eafinder posted:
This kind of simple technique can be coded in MQL in less than 30 minutes if you study the language a little bit. And you don't need to pay $1000.

Agreed, I think for an EA that costs USD1K might not worth a value for a simple EA like you have described. I cannot commend how HiRider Advanced is coded since I'm not able to access its code.
FRWC did try hard to provide good support where possible, I think they need 10 times better to recover the price for we pay for. A standard price for most EAs(and maybe some good ones) cost less than USD100 each.

Perhaps the price of USD1K a member paid is for the 10 different EAs and maybe more in the future.
For me, quality EA counts and not quantity.
All I look for FRWC to improve the version of Fusion, to make it more robust and trade more conservative for small account holder. We all know, a higher risk-reward is not recommended for long run but with proper risk adjustment should fix the issue easily.

Hi rider is design to take low risk trades. the lot size is my choice at 0.01. Looking at the current state of Hi rider on today, it is performing very well on automatic. As for the $1000 price tag, it is worth every penny as I just download the new update and man it is scalping the hell out of the market. My $1000 will be made up in two weeks with this update.

My broker is FXCM and IBFX

Please do not get put off by this robot, if this IS the HiRider Advanced id recommend you do a Backtest of different settings first, apparently HiRider makes these sort of mistake at the beginning of the system running i have had this problem, but in the long run (im talkign bout a year or 2) you will be seeing quite an extreme win.
oh and dont use Fixed Lot. No variable winnings will only make you lose more

LOL...this demo account already showing big losses, still can say profitable in long run.

Also, look at this account, Hirider slowing killing the account. Note those 5 identical open trades totaling loss of $1k.
https://www.myfxbook.com/members/fusionrobot/fusion-v-robot/18386

Well mines showing a different picture mate... but yea i can see where you're going... but Yours and the one you provided were using a rubbish FXBroker, if i were you id go with FXDD malta for hirider advanced, they have a more reliable chart than whatever you're using, another successful one is Alpari UK,
otherwise if ur willing to Invest a little more so that the base trade would be at mini lots 0.1 lots theres these id recommend MIGbank, Admiral....
Oh and test the settings because it is known Hirider on 10 for maxtrade on S1,2,3,4 with lot risk reductor at 1 its known to lose

Try all combination by backtesting... Mines all the way up friend cuz i actually spent 2 month testing different parameters and yep thats what you have to do, Not blindly applying the bot and hope that it works...

By the way Hirider in Demo making loss doesnt mean its a lost in real mate...

In Real when Hirider places a trade it does affect the market, think about this each pip is 3 billion US dollar up or down so YOUR trades in real does affect how the market goes, demo doesnt... demo is fake money, doesnt add weight to the VOLUME of trade...

Suggect you post your Hirider live account here so we can track and see if its really as profitable as you say. Maybe that could change our perspective for the better.
I wonder how many real 0.1 lots of Hirider can influence the market to move in our way......... Also the developer's manual advices to use only 0.01 lots.😀

well we'll see too early to show and too early to tell whether if its going good or not..
but i put the same Parameters i used backtesting it.

There's a new released of HiRider. FRWC named it as HiRider Modified.
I've put that modified EA for a test:
https://www.myfxbook.com/members/kinggy/frwc-hirider-modified-demo/27880

More information about the EA can refer from here:
https://frwc.wordpress.com/2010/04/23/hirider-modified/?preview=true&preview_id=156&preview_n6131f63838

by the way cheng, my Hirider Advanced ust made me another 60 Green pips in the bag 120 waiting to be taken soon...

bguguen posted:
    by the way cheng, my Hirider Advanced ust made me another 60 Green pips in the bag 120 waiting to be taken soon...

Hi Bguguen,
It appears the same from my demo trading with yours.

Manuel T, the modifier for the new HiRider Advanced. The risk-reward ratio is better of than the HiRider Advanced.
More drawdown = More Profit

The above method can only prove workable if HiRider Advanced has a good accuracy in taking profit for every opening trades before it hits the 210pips stop-lost, else the losses can be huge.
From my trading with HiRider Advanced in demo account, it did hit the 210pips stop-lost before.

HiRider Modified can open up to 20 trades simultaneously, 5 trades for each strategy. My suggestion is to trade only 0.01 lot size for every USD1000. To trade more conservative, reduce the number of trades to 10 in total.

We'll see how the test goes. 😐

if you backtested it over the years of 2008 to now you would find out consecutive loss was around 2 and total loss was 3 times... while the consecutive win was around the 100 value... and it won around 500 soo yea.... its quite a consistent little fellow, best used when Volume Traded in peak times is above 50
i found out Hirider is a losing strategy if it traded back in 2005,, 2006 and 2007 as those years EUR/USD Volume was terribly low... mostly cause EURO was a relatively NEW currency... so yea just keep your options open...

My Demo trade for HiRider Advanced is carried forward to here:
https://www.myfxbook.com/members/kinggy/frwc-hirider-advanced-demo/31003