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Leo Trader Pro (By Raymond )

The user has deleted this system.

Leo Trader Pro Discussion

pc8multifx (pc8multifx)
Dec 20 2010 at 22:05
879 posts

moritzm posted:
    It's a trade replicator.If you look inside the .ex4 you can find:

'LeoTraderPro was unable to contact the replication server - this may be due to various reasons. ...
LeoTraderPro is a trade replicator and *CANNOT* be used in the Strategy Tester'


This is the main problem.....you are in the hands of others, imagine, one day a drunken employee or a playing kid on the other side hits the wrong button and all customer accounts are gone LOL

sparkz
Dec 21 2010 at 01:34
10 posts
Because it's a trade copier there's not even any proof it does use neural networks. They could just say that to make it sound more interesting. It wouldn't be the first time.

Love to see where this is all going. Will non FinFx clients have problems in getting sigals and be told to use FinFx as it's proven to work. I wouldn't be surprised.

Leonardo (leozdnbr)
Dec 21 2010 at 01:52
27 posts
after they released investor's password to the public, it barely traded. reduced significantly the lot size, it was way too risky before, and it stopped trading.

George (pipsquick1957)
Dec 21 2010 at 02:10
172 posts
Guys, keep in mind that all of the trades are mini lots. In other words the biggest trade was 2.1 mini lots, so the risk is still kept very low.
 
 For example one trade was 25 pips in profit and was trading .9 (micro lots) and the profit was $22.50. I have bought it but they are having many technical problems, my Fin FX demo keeps crashing, still waiting for a fix.

 But I will tell you that if I dont get the exact same trades as there live Fin FX account, and I have the exact same demo on the exact same broker, then I will give the demo a few days and return for a refund. But if its legit then we will actually have in our hands the very best EA I have ever seen. So time will tell to see if the proof is in the pudding!!

pipmeister7
Dec 21 2010 at 03:05
8 posts
So if you purchase the Leo Trader Pro EA, do you have to open a FinFx account or will it work with all MT4 brokers. I'm using Alpari US. I wonder if it would work with that considering the leverage with Alpari US is 50:1 compared to the 100:1 LTP is using. Anyone know?

George (pipsquick1957)
Dec 21 2010 at 04:44
172 posts
It is suppose to work with any broker, but they are pushing Fin FX because they are an IB for them so its more money in there pockets.

 But the Fin FX demo is pretty slow for opening/closing a trade, and the commissions are not that cheap at $7.00 per round turn in comparison to Dukascopy or MB Trading, so I cannot say if it will be as slow on a real live account.

Raymond (rayong1)
Dec 21 2010 at 05:01
126 posts
Now that its out there. Can those of you who have it let us know:

1. What sort of problems you're having with it.
2. What sort of results you're having demo/live with other brokerages.
3. What do you think of the trade entry decision criteria, eg. after it opens a trade it goes the wrong way 90% of the time before it reverses for a profit.
4. What do you think of the trade exit criteria.

I'll probably pick it up next week after zulutrade transfers my affiliate pay to my paypal a/c.

ssaqeel
Dec 21 2010 at 05:52
20 posts
I bought this EA, manual says that the server will push the trigger/sends s signal to the EA on clients to open the trade, no trades so far , will keep you update.Though i bought it,i am confused and getting the feeling of one more EA to thrash bin.... Anywayyyyyyyyyyyyyyyyyyyyys will keep you all posted .

SolarFX (forexma)
Dec 21 2010 at 05:55
1332 posts
Wake up guys, stop dreaming!
The 330 SL is real and it's there to take your money away from you.
The average win is ~15 pips so the RR is ~22:1.

If you don't believe take a look at this particular trade which was held for 9 days and went nearly 300 pips south before it went in profit.

10.18.10 22:40 10.28.10 17:10 GBPUSD Buy 1.20 1.56049 1.59499 1.59327 1.59499 17.2 20.64 9d 3.96%

22:1 RR is terrible and it's a matter of time a disaster to happen.

All poor RR systems look good in the short term and always fail in the long term.

THESE GUYS ARE NOT PROFESSIONAL TRADERS, THEY'RE ONLY VERY GOOD PROFESSIONAL MARKETERS.

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Siitari
Dec 21 2010 at 06:01
111 posts
SOLAR, I really wouldn't talk trash with such account to show yourself. You are a true troll. Sadly you seem somewhat successful at it(trolling around).

Less effort, better results.
SolarFX (forexma)
Dec 21 2010 at 06:12
1332 posts
Siitari posted:
    SOLAR, I really wouldn't talk trash with such account to show yourself. You are a true troll. Sadly you seem somewhat successful at it(trolling around).


Thanx for your note.
I took a look at your profile, it says: experience - less than an year.
For less than an year it's actually hard to learn the basics of successful trading.
The RR is one of the most important things in forex and this system has very poor RR.

There are many systems here at mfxb which look tempting at first glance but when you look deeper you understand it's a nice looking apple which is rotten inside. This system is no exception, you just gotta know where and what to look for.

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Siitari
Dec 21 2010 at 06:15
111 posts
Like I said, YOU are a troll.

If you want to compare average win to something you should compare it to average loss. Which is in this case 2.7 pips or something like that. Biggest winning trade has been just over 100 pips.

So 100 pip win and a 330 SL. That would make the RR ~3:1. Not so poor anymore? Like you said, you need to know what to search...

EDIT: This system isn't just the numbers you see in there...

Less effort, better results.
SolarFX (forexma)
Dec 21 2010 at 06:18
1332 posts

Siitari posted:
    Like I said, YOU are a troll.

If you want to compare average win to something you should compare it to average loss. Which is in this case 2.7 pips or something like that. Biggest winning trade has been just over 100 pips.

So 100 pip win and a 330 SL. That would make the RR ~3:1. Not so poor anymore? Like you said, you need to know what to search...


😁😁😁😁😁😁😁😁😁


"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Siitari
Dec 21 2010 at 06:19
111 posts

forexma posted:
I took a look at your profile, it says: experience - less than a year.
For less than an year it's actually hard to learn the basics of successful trading.


You can actually learn a lot in 6 months of intensive study. Maybe others can learn faster than some.

Less effort, better results.
SolarFX (forexma)
Dec 21 2010 at 06:22
1332 posts
What you're talkin about is the average win/loss ratio which has nothing to do with the RR.

What Does Risk/Reward Ratio Mean?
A ratio used by many investors to compare the expected returns of an investment to the amount of risk undertaken to capture these returns. This ratio is calculated mathematically by dividing the amount of profit the trader expects to have made when the position is closed (i.e. the reward) by the amount he or she stands to lose if price moves in the unexpected direction (i.e. the risk).

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
SolarFX (forexma)
Dec 21 2010 at 06:22
1332 posts
Siitari posted:
    
forexma posted:
I took a look at your profile, it says: experience - less than a year.
For less than an year it's actually hard to learn the basics of successful trading.


You can actually learn a lot in 6 months of intensive study. Maybe others can learn faster than some.


Which is obviously not your case.

This system may have dynamic TP which could be 100 pips in few cases but it's mostly ~15 pips. The initial SL is always ~330 pips and it's exactly the initial SL which is used to calculate the RR of a system. Due to the non fixed TP of this system we use the average win for the RR calculation. The fact that they're using a trailing stop doesn't change the RR at all cause it's activated only after the trade is allready in profit.

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Siitari
Dec 21 2010 at 06:39
111 posts
I have to admit that I confuse those together all the time since I consider other aspect more important than some but that doesn't change anything. Thanks for pointing out what these terms mean.

In this EA those numbers aren't the whole story. You seem to think that they are written in stone. This EA has had so far 1 loss and it was 2.7 pips. Not 330 pips. Besides if you have followed the trades at all there's very close trailing stop.

If you do not know how the EA works how can you say it BS?

191 trades with 190 wins.
~99.5% wins.
With that 22:1 RR you so love this would give(if we think that that loss would have been SL) profit factor of ~4.5.
Which would still(!) be good profit factor.

EDIT: Plus the money management really factors in in this kind of EA.

Less effort, better results.
SolarFX (forexma)
Dec 21 2010 at 06:46
1332 posts
If I go for 1 pip in each trade and my SL is 1000 pips I could have 100% win rate. Does that make my system good - definetely NO. Why.....???? Because 1 single loss will wipe all the 1000 wins.

But does it look sexy until the SL is hit?

Ohhhh maaaaan, you bet it does.

The converstion between you and me is over. You just have to learn the basics of forex, money and risk management.

"In trading, winning is frequently a question of luck, but losing is always a matter of skill."
Siitari
Dec 21 2010 at 06:57
111 posts
I think you need to see the results and not the numbers that you think define the results.

What comes to my learning of forex in any aspect since I don't care about manual trading at all, who gives a s***? If I make profit I'm happy.
I suppose some ppl are happy knowing all but losing money. That must be because they have learned the basics and some.

Do you really think RR is all there is? The most important thing?

You start again trolling with giving bad examples and bashing others. As always.

Less effort, better results.
Raymond (rayong1)
Dec 21 2010 at 08:35
126 posts
I went back and looked at the oct 18th trade that stayed open for 10 days. The drawdown on that was 286 pips. That's not that bad if you compare to some EAs that go past 500, especially the grid trading EAs.

The biggest drawdown as a percentage of account balance was 16.05%. That again is quite acceptable.

Looking at the opening trade SL/TP is part of the story but in no way is the whole story.
There are lots of metrics we can look at. Here's one, the profit factor is 806, I'd be hard pressed to find an EA that has a profit factor higher than 5. We can go on but you get the point. The opening TP/SL is one thing but it hasn't hit that yet so to say that this is an account killer based on that one metric is like the blind man who touched the elephants tail and said an elephant is like a string.

Personally, I think a 16% drawdown to achieve a 500% account gain in 5 months is quite acceptable.

If we look hard enough we'll definitely be able to find fault with this EA/system but the results speak for themselves.

Are the problems a show stopper? I don't think so.
Is the risk of using this EA so high that I wouldn't use it?...No.

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