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Ilan1.6 = Queens Money Collector (stopped) (By RedRhinoLab )

The user has deleted this system.

Ilan1.6 = Queens Money Collector (stopped) Discussion

RedRhinoLab
Mar 12 2015 at 09:55
631 posts
I was about to sign up to QMC, but before doing so I had to go through the trading history and see what I can expect in the future.

Here are the things I noticed while checking his open history. I started to write down the rules of the system when and why trades were opened and closed and after checking about 10 baskets of trades I quickly remembered a very OLD and FREE EA that did this same type of trading. This EA is Called Ilan and it has been the beginning of ALL commercial EA that use Martingale + Grid including more than I know but commonly known names suck as ForexHacked, ForexEnvy, Benz, PowerFlow, ForexGridTrader and hundreds more.

Almost every month you will see a variation of ILAN on ForexpeaceArmy with a new setting whether it is the indicator, Grid distance, or the Lot multiplier but they are all the same in principle of strategy. They are Martingale ( LOT MULTIPLIER/EXPONENT ) and they are GRID ( ADD to LOSING POSITIONS)

If you read any older forum about any of these names above, you will find out sooner or later that the account blows from 1 market move. The Strategy is very simple but can be traded in so many different variations and has resulted in everyones OWN TWIST creating hundreds of Commercial Variations and Hundreds of FREE variations.

Google

Ilan1.4 , ilan1.5, ilan1.6, Queens Money Collector = Ilan1.6Dynamic , Ilan16_PipStepRSI, ilan2.0, etc

https://www.myfxbook.com/members/Tatsiana/ilan20-by-tarasov/507566

These systems can make money for several months but can blow your account the next.

If you Sell these systems, Manage Money with these systems, or sell signals from these system, you will often be labeled as a fraudulent hustler and quite dubious for marketing such a system for your own benefit knowing the risks involved for your customers, clients, and friends.

RedRhinoLab
Mar 12 2015 at 09:55
631 posts
Since Martingale + Grid has such a popular reputation with crashing accounts Myfxbook does not accept these systems in their https://www.myfxbook.com/autotrade program. If your system has characteristics of ILAN, you'll not have any chance of being a signal provider on MFB.

Unfortunately, not all Signal Provider companies have a standard for quality.

MyFxTrader
Mar 12 2015 at 11:28
170 posts
What amused me was his introduction post below. The fact that he is here belies his status.


OrtwinRich posted:

Dear Professor!

Anyhow, I would like to tell you a little more about our EA/Signal:

Her Queens Money Collector is not an EA you can buy. It sends signals directly to your MT4 which will be executed some milliseconds later.

I can assure you that Queens Money Collector is a highly developed EA, initially made for Her Majesty (We are not allowed to tell you which Highness it was initially designed for), and later modified for Banks and big Insurance Companies.

Her Queens Money Collector produces about 250 potentional signals every day and all of them will be checked by our account manager personally. Only when he agrees that a signal is logical, than the trade will be executed and some milliseconds later on your account, too.

This EA requires its own server and backtesting is not possible because of the human factor.

I hope I could clarify some misunderstandings here.

Yours sincerely

Ortwin Rich
Sales & Marketing
I-Make-You-Rich.com

RedRhinoLab
Mar 12 2015 at 13:00
631 posts
What I can tell you today to duplicate his results using Free ilan1.6Dynamic - This is old EA from 2009 and for 4 digit broker. Multiply your setting by 10.

Run on M15 TF
TP = 10 pips

If EA place Buy, it will Grid about 36 pips before next Order. with Lot Exponent 1.5
If EA place Sell, it will Grid about 36 pips before next Order. with Lot Exponent 1.5
EA only trades in 1 direction. This is why QMC use More than 1 EA, to trade in Both BUY AND SELL Direction.









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RedRhinoLab
Mar 12 2015 at 13:01
631 posts
If you look closely to the Image above you will see 2 Orders Enter on same M15 Bar, He is using several Setfiles ( Same EA with different setting on same Pair ) ,

You can see by clicking on the B or S in Trading Browser and Myfxbook will show his Magic numbers. such as 141414 151515 161616

RedRhinoLab
Mar 12 2015 at 15:35
631 posts





You can see the magic Number Difference. Since Ilan trades Only 1 direction at a time, Running more than 1 EA per Symbol allows trading in BOTH directions and allows a slight hedge but doesn't really help past Level 2+

This account is 100:1 and I already ran out of free margin on the AUDUSD basket. I'll need a new account with higher leverage to run this system

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RedRhinoLab
Mar 13 2015 at 19:50
631 posts
40% in just a few days Ilan you are amazing, but please stop using all my margin. 😇

gftcfd
Mar 14 2015 at 09:01
106 posts
Hello @RedRhinoLab

I have read many of your posts on myfxbook,
I must say you are really amazing about your EA programming and knowledge of forex trading.

thenewguy
Mar 15 2015 at 01:37
24 posts
Cool, I bought his EA, same thing, run outta margin so quick, of course his response is you haven't set it up properly lol, anyways, what ive done now is do fixed lots and see where it goes, as long as its making pips, it should be good

cyberom
Mar 15 2015 at 06:00
96 posts
thenewguy posted:
Cool, I bought his EA, same thing, run outta margin so quick, of course his response is you haven't set it up properly lol, anyways, what ive done now is do fixed lots and see where it goes, as long as its making pips, it should be good


Same thing for me for the EA, thanks for RedRhinoLab to signal us this FREE ea. At least we don't have pay 20$/month now to risk our account 😉

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