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FxPapa Expert Advisor (By FxPapa)
The user has deleted this system.
FxPapa Expert Advisor Discussion
May 16, 2012 at 18:38
ragency posted:
FxPapa posted:
Dear Traders
Thanks for all comments.
...
The new update will be ready this weekend. We have coded the hard SL and TP point.
Thanks again for your helps and support. We try our best to make the EA better.
Feel free to contact our support ([email protected]) anytime you may need.
Best Regards
Mike
FxPapa,
Is it possible that you could include audible and visible alerts for all trade openings and closings in the new release? I would very much appreciate this since I cannot eyeball my accounts constantly.
Thank you!
Hi
We try to do this in current update.
Regards
May 16, 2012 at 20:02
Hi FX Papa,
Would it be possible on the first tab for the EA to select long only or short only.
So if I only want to go short then I will only have short trades even though you opened a long trade. Then I will not ave received the long trade? Is this possile with FXPapa?
Would it be possible on the first tab for the EA to select long only or short only.
So if I only want to go short then I will only have short trades even though you opened a long trade. Then I will not ave received the long trade? Is this possile with FXPapa?
May 16, 2012 at 20:22
BigSteve posted:
Hi FX Papa,
Would it be possible on the first tab for the EA to select long only or short only.
So if I only want to go short then I will only have short trades even though you opened a long trade. Then I will not ave received the long trade? Is this possile with FXPapa?
Hi
Yes. You can do it.
Regards
May 16, 2012 at 22:41
Dear Traders
We have contacted IBFX AU. It seems there is no way to change our leverage.
Our account leverage is 1:10 now but as you can see in below link they have different leverage for each pair. For example for EURUSD & GBPUSD the leverage is 1:33 .
http://corporate.ibfx.com/News/Margin-Requirement-Changes-Canadian-Resident-Customers
We have coded the server EA to act like when leverage is 1:50. Although it's higher than 1:33 but it doesn't make any problem for our order managing.
Please notice that you don't need any change.
Best Regards
We have contacted IBFX AU. It seems there is no way to change our leverage.
Our account leverage is 1:10 now but as you can see in below link they have different leverage for each pair. For example for EURUSD & GBPUSD the leverage is 1:33 .
http://corporate.ibfx.com/News/Margin-Requirement-Changes-Canadian-Resident-Customers
We have coded the server EA to act like when leverage is 1:50. Although it's higher than 1:33 but it doesn't make any problem for our order managing.
Please notice that you don't need any change.
Best Regards
May 17, 2012 at 00:06
FxPapa posted:
Dear Traders
We have contacted IBFX AU. It seems there is no way to change our leverage.
Our account leverage is 1:10 now but as you can see in below link they have different leverage for each pair. For example for EURUSD & GBPUSD the leverage is 1:33 .
http://corporate.ibfx.com/News/Margin-Requirement-Changes-Canadian-Resident-Customers
We have coded the server EA to act like when leverage is 1:50. Although it's higher than 1:33 but it doesn't make any problem for our order managing.
Please notice that you don't need any change.
Best Regards
FxPapa,
Perhaps you should consider opening another live account with another broker that provides typically available leverages ...
I'm not saying that you should close or stop trading your current live account.
How can it hurt to have a good track record on two live accounts?
May 17, 2012 at 00:18
ragency posted:
FxPapa posted:
Dear Traders
We have contacted IBFX AU. It seems there is no way to change our leverage.
Our account leverage is 1:10 now but as you can see in below link they have different leverage for each pair. For example for EURUSD & GBPUSD the leverage is 1:33 .
http://corporate.ibfx.com/News/Margin-Requirement-Changes-Canadian-Resident-Customers
We have coded the server EA to act like when leverage is 1:50. Although it's higher than 1:33 but it doesn't make any problem for our order managing.
Please notice that you don't need any change.
Best Regards
FxPapa,
Perhaps you should consider opening another live account with another broker that provides typically available leverages ...
I'm not saying that you should close or stop trading your current live account.
How can it hurt to have a good track record on two live accounts?
Hi
Thanks for your suggestion. We try to do this. The problem is that we are in CA and most of famous brokers have such rules about US and CA clients.
Regards
May 17, 2012 at 01:42
FxPapa posted:
ragency posted:
FxPapa,
Perhaps you should consider opening another live account with another broker that provides typically available leverages ...
I'm not saying that you should close or stop trading your current live account.
How can it hurt to have a good track record on two live accounts?
Hi
Thanks for your suggestion. We try to do this. The problem is that we are in CA and most of famous brokers have such rules about US and CA clients.
Regards
Have a look at FinFX (finfx.fi). Located in Finland, they have practically no restrictions, and provide really excellent customer service ...
May 17, 2012 at 06:18
rgmann posted:
I want to publicly thank FxPapa for finding a solution to the problem I've been experiencing on my account. He has done more than most vendors would be willing to do, and I believe that everything should work fine going forward. His support has been top notch so far! 😄
Cheers,
Roger
Hi rgmann and FxPapa,
Could you tell me what's the solution for 'Error 721' ? I often meet the error. Please tell me the solution. Thank you.
May 17, 2012 at 07:01
Hi Darren,
To the best of my knowledge, "Error 721" normally happens from time to time, but fixes itself fairly quickly. I don't believe there's anything we can do to avoid it. Just leave it alone and the EA will fix itself and remove the error usually within a relatively brief amount of time.
Cheers,
Roger
To the best of my knowledge, "Error 721" normally happens from time to time, but fixes itself fairly quickly. I don't believe there's anything we can do to avoid it. Just leave it alone and the EA will fix itself and remove the error usually within a relatively brief amount of time.
Cheers,
Roger
forex_trader_74841
Member Since Apr 25, 2012
4 posts
May 17, 2012 at 07:52
teuteux13 posted:
we need to win straight 25 trades with 8 pips to recover the lost of 3 trade (200pips).
hope the next order will follow the trend direction of the market.
Excellent point teuteux13 - this is the fundamental problem with this EA - it requires 96% win rate just to breakeven - in the long run, on current settings (8TP, 200SL) the EA will ultimately lose.
Fxpapa - have you looked at improving the TP/reducing the SL to see what can be done to improve the long term viability of the EA ?
May 17, 2012 at 08:32
fatboy11 posted:
teuteux13 posted:
we need to win straight 25 trades with 8 pips to recover the lost of 3 trade (200pips).
hope the next order will follow the trend direction of the market.
Excellent point teuteux13 - this is the fundamental problem with this EA - it requires 96% win rate just to breakeven - in the long run, on current settings (8TP, 200SL) the EA will ultimately lose.
Fxpapa - have you looked at improving the TP/reducing the SL to see what can be done to improve the long term viability of the EA ?
Hi
Yes. We are working on it.
Regards
May 17, 2012 at 13:08
Hi everyone,
Looking at FxPapa’s real account, it’s possible to notice that both times the EA had 3 trades open in these 6 months were on Tuesdays. Examining FxPapa’ strategy, I found in the period of 2 years 3 trades open 9 times: 3 of them on Mondays and 4 of them on Tuesdays. The other 2 were in initiated on Thursdays. I’m thinking about going into the market with FxPapa on Wednesdays and Thursdays only, maybe increasing the risk a bit for Weds, since FxPapa would never open 3 trades in 2 years and half (2 of strategy and half real). Those who had 2 losses on Tuesdays in these 6 months (February and May) are losing money because of Tuesdays. I think it might be an idea to consider being out on Tuesdays. What do you say?
Fabio
Looking at FxPapa’s real account, it’s possible to notice that both times the EA had 3 trades open in these 6 months were on Tuesdays. Examining FxPapa’ strategy, I found in the period of 2 years 3 trades open 9 times: 3 of them on Mondays and 4 of them on Tuesdays. The other 2 were in initiated on Thursdays. I’m thinking about going into the market with FxPapa on Wednesdays and Thursdays only, maybe increasing the risk a bit for Weds, since FxPapa would never open 3 trades in 2 years and half (2 of strategy and half real). Those who had 2 losses on Tuesdays in these 6 months (February and May) are losing money because of Tuesdays. I think it might be an idea to consider being out on Tuesdays. What do you say?
Fabio
May 17, 2012 at 14:02
therebox posted:
Hi everyone,
Looking at FxPapa’s real account, it’s possible to notice that both times the EA had 3 trades open in these 6 months were on Tuesdays. Examining FxPapa’ strategy, I found in the period of 2 years 3 trades open 9 times: 3 of them on Mondays and 4 of them on Tuesdays. The other 2 were in initiated on Thursdays. I’m thinking about going into the market with FxPapa on Wednesdays and Thursdays only, maybe increasing the risk a bit for Weds, since FxPapa would never open 3 trades in 2 years and half (2 of strategy and half real). Those who had 2 losses on Tuesdays in these 6 months (February and May) are losing money because of Tuesdays. I think it might be an idea to consider being out on Tuesdays. What do you say?
Fabio
What about Mondays?
May 17, 2012 at 14:14
FxPapa,
For the first time since I attached your EA to my live account, it has completely missed a trade: Today's GBPUSD sell.
In addition, on my demo account, the above trade appears, but it was only open for 11 minutes, closing with a loss of 1.3 pips. This compares to your account where the trade was open for 20 minutes and closed with a 7.7 pip profit.
I sincerely hope that this is not a sign of things to come ...
For the first time since I attached your EA to my live account, it has completely missed a trade: Today's GBPUSD sell.
In addition, on my demo account, the above trade appears, but it was only open for 11 minutes, closing with a loss of 1.3 pips. This compares to your account where the trade was open for 20 minutes and closed with a 7.7 pip profit.
I sincerely hope that this is not a sign of things to come ...
Member Since May 04, 2012
4 posts
May 17, 2012 at 17:01
On May 16 and 17th right after the 3 losing GBPUSD trades, it shows you open 3 EURUSD but my EA did not execute anything..... weird. It still shows "connected to the server though".
Any explanation for that?
Any explanation for that?
fortunatisolutions@
May 17, 2012 at 19:49
therebox posted:
Hi everyone,
Looking at FxPapa’s real account, it’s possible to notice that both times the EA had 3 trades open in these 6 months were on Tuesdays. Examining FxPapa’ strategy, I found in the period of 2 years 3 trades open 9 times
What I can take from that statistic is that, in the last 2 years and 4 and a half months (2010, 2011, and January to middle May, 2012) there would have been 11 "3 trades situations".
This gives us an average of one '3 trades situation' every 2.59 months (from the beginning of 2010 to the present).
May 17, 2012 at 19:49
Well noted Fabio and a good observation. I think it is better to just look at the trend of the pairs and set the inputs to "long only" or to "short only" in the common tab of the EA. For instance this would have kept you out of the three losers. Sure it means you will lose a trade or two, but think about it, so what? There might be some potential to small gains counter trend but for me I look at the trend and change the common settings. I set it by what I see on the 1 hour until bed time then the 4 hour
therebox posted:
Hi everyone,
Looking at FxPapa’s real account, it’s possible to notice that both times the EA had 3 trades open in these 6 months were on Tuesdays. Examining FxPapa’ strategy, I found in the period of 2 years 3 trades open 9 times: 3 of them on Mondays and 4 of them on Tuesdays. The other 2 were in initiated on Thursdays. I’m thinking about going into the market with FxPapa on Wednesdays and Thursdays only, maybe increasing the risk a bit for Weds, since FxPapa would never open 3 trades in 2 years and half (2 of strategy and half real). Those who had 2 losses on Tuesdays in these 6 months (February and May) are losing money because of Tuesdays. I think it might be an idea to consider being out on Tuesdays. What do you say?
Fabio
