I use GSSE. But find out to late that it is a grid with martingale. Greg don´t told it as he offer his system. I think the trades will made by a bot. No intelligent people set his trades to sell in a verry verry strong upward trend. In this case my account will blow away when GBPUSD move few points upwards. This would be happen last friday when I don´t closed any positions per hand.
Thank you Marsie for the link. All information has value.
I will agree that Greg could have been a little more forthcoming with his money management strategy. However, after requesting more information from him, he was very specific in what account balance and leverage should be.
I am using a higher leverage broker so I have a bit more room to maneuver than a smaller leverage account would have. Should the current drawdown recover, all will be well.
If not, it is no different than other strategies that have been tried and failed over time since forex began.
There is a user setting within the EA that dictates what lotsize you will be trading at. It is called DivideRate and yes there is a graduated lotsize increase involved.
Here are Greg's recommendations.
for account below $2000, DivideRate should be 0.5 for account below $2000-4000 DivideRate should be 1.0 for account below $4000-$6000 DivideRate should be 2.0 for account below $6000-$10000 DivideRate should be 3.0
Hope this helps. With the mass draw-down that I am currently in, I am still only at 41% DD, High...yes. But acceptable in a grid strategy.
That´s right. But he didn´t tell this before we started to trade. In the video tutorial he said 'DivideRate 1.0 as default setting' and that we don´t change this. With the knowlegde that he uses a martingale grid, most traders with experience would handle this system more carefully. Everybody who knows Forexhacked and quickly wiped out accounts, knows the danger of martingale systems.
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