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FXCharger (By fxcharger)

Gain : +1912.72%
Drawdown 57.29%
Pips: 1088.9
Trades 564
Won:
Lost:
Type: Real
Leverage: -
Trading: Automated

FXCharger Discussion

fmlbfx2010
May 10 2018 at 00:35
78 posts
If risk equal 100, you will loose all your fund
If the risk is 50 , you will loose half of your fund
If the risk is 10, you will loose tenth of your fund
If the risk is 1, you will loose 1% of your fund
And the risk is always greater than the reward so this ea is bad
So take care

WayneO (WayneO)
May 10 2018 at 07:17
53 posts
Profits are too slow with this EA, I have removed it from my live test account and will therefore not be following this thread any longer.
Good luck folks.

It's amazing what you can accomplish if you don't care who gets the credit.
ramsey (ramsey)
May 10 2018 at 08:08
22 posts
Sorry if you’re u think I should find out through experimentation,
but can anyone tell me?
I think now that EA on Automatic lot size setting, will always start initial trade
on 0.01; 0.1; or 1.0, depending on balance, is that correct?
Or is the Manual lot setting only way to change the starting lot?
Or is the Manual lot place to select 0.01;0.1 (microlot, minilot or lot) etc for start?

Not looking for amateur answers! And btw does anyone now if this is on fxblue??
cheerio

bx199014
May 10 2018 at 08:16
1 posts
lak1415 posted:
Hi there,

This ea is very interesting. may i check if i bought this ea, will you be able to provide the settings of the two accounts that shared in myfxbook here?

Thanks,
k

LongVision
May 10 2018 at 08:16
254 posts
MicF posted:
I don't want to defend the ea, as I'm also just a user.

The lotsizes in the myfxbook didn't change.
And my account is healthy.

The max risk controls the stop loss, not the lot size
i.e. lower risk setting equals higher chance to loose.
So 100% risk means lower risk to have loosing trade, but if you have it will be final.


What are you saying 'The max risk controls the stop loss, not the lot size' this is completely wrong statement risk is dependent both on lot size and stop loss not only on stop loss. let me the calculate current risk for the open trades of FXCharger for you

For trade-1
Risk Pips=(Open - S/L)*10000=(1.19611-1.05667)*10000=1394.4Pips
Risk Amount=Risk Pips*Pip Value*Lotsize=1394.4*10*0.35=$4880.4

So current risk for Trade-1=(Risk Amount/Equity Balance)*100=4880.4/24,478.44*100=19.93%

For trade-2
Risk Pips=(Open - S/L)*10000=(1.18681-1.05667)*10000=1301.4Pips
Risk Amount=Risk Pips*Pip Value*Lotsize=1301.4*10*1.4=$18219.6

So current risk for Trade-2=(Risk Amount/Equity Balance)*100=18219.6/24,478.44*100=74.4%


So current risk for Trade-1&Trade-2=94.33%

Now he also opens third trade may be lot size of 5.6. The risk is now more than 100% but you can not lose more than 100% so trade going to close before hitting stop loss due to margin requirement.

This is a classic example of how people lose money by trading without risk control.

The market will trade through it’s path of least resistance .
MicF
May 10 2018 at 10:59
95 posts
fmlbfx2010 posted:
If risk equal 100, you will loose all your fund
If the risk is 50 , you will loose half of your fund
If the risk is 10, you will loose tenth of your fund
If the risk is 1, you will loose 1% of your fund


You are absolutely right.

And the risk is always greater than the reward so this ea is bad
So take care


It is, what Wayne said, it's too slow.
That's why I probably stop and take my profits.

I have other EAs that are more risky, FXCharger is a calculatable risk.



MicF
May 10 2018 at 11:02
95 posts
LongVision posted:
What are you saying 'The max risk controls the stop loss, not the lot size' this is completely wrong statement risk is dependent both on lot size and stop loss not only on stop loss. let me the calculate current risk for the open trades of FXCharger for you


Sorry, if I didn't make myself clear.
I talked about the 'risk setting' of the EA not the 'risk of the trade'.

Your calculations seem to be absolutely right ;-)
Don't know, what the risk settings of the EA are in your case.

Stop loss stays the same on all 4 trades and the and the risk of all trades sum up to the risk setting of the EA.
I checked this with my current risk setting of 35%.

MicF
May 24 2018 at 08:15
95 posts
I see it happened!
Didn't notice it.

As said it crashed down the max. Risk setting which seem to was 20%.

Didn't crash my account, I've set it to 35%.
Thats what I said:
Decreasing this setting will increase the likelyhood to hit the stopp loss.

And as you can see the profits afterwards...
.. I'd bet the setting is now 100% again, to catch up the losses.

fxcharger
May 31 2018 at 06:00
73 posts
RoboFX123 posted:

Yes it is same account as is in signalstart. Now the vendor changed the risk. Start firts lot is from 0.10 to 0.35 lots. He wants to quickly catch up with the loss and hence stopped tracking on myfxbook. He is desperate.


Hello!
We always said, that there are no systems that never get loss. I told that it will happen someday with our robot but it's not so scary. Sooner or later the loss will be anyway 😄. That is why we recommend to use drawdown control in our EA.
Yes, you are right, we changed risks, to be able to recover deposit fast. And this idea is damn good because of two factors:
1. As you can see FXCharger has no losess from 2013 year at backtests. And this also proves by live trading from very begining of 2016 year. So we can co we can conclude that losess is a very rare thing for our system. And what is the chance that it will have second loss in near period? It's very and very small chance of that. This couple of months is the best moment to have larger risks and greater profitability.
2. Nobody like drawdowns and then recover the deposit for long time. But with our system risk of second loss is so very low, that we can recover our profits for very quick period of time.

'He is desperate' - It is not so 😁 Everything is fine. We have low drawdown.

fxcharger
May 31 2018 at 06:00
73 posts
WayneO posted:
Profits are too slow with this EA, I have removed it from my live test account and will therefore not be following this thread any longer.
Good luck folks.


Hello and goodbye. We will miss you 😭

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