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Live Strategy Testing (By leerees )

Gain : +147.54%
Drawdown 23.59%
Pips: 1549.1
Trades 1579
Won:
Lost:
Type: Real
Leverage: 1:400
Trading: Automated

Live Strategy Testing Discussion

leerees
Aug 02 2011 at 09:16
75 posts
Hi guys, thanks for the emails so far. A few of you have emailed me stating that you already have broker accounts. Here's what to do to get your cashback setup.

1) Phone your broker and ask them to put cash back forex as your introducing broker on your account

2) Use the contact form on cash back forex: https://www.cashbackforex.com/contactus.aspx
Copy and paste the following text.

Dear Cash Back Forex, I was refered to my broker by the following Cash Back Forex user.

Please can you add me to their referals.

Once all this is done email me.

Remember it can take upto a week for your account to appear under my referals.

Sorry if some of you find this troublesome but as you can see this system is very safe and profitable, so I do deserve to receive some of your trading commisions, remember it's costing you nothing as your broker pays this, plus you also get some commisions from cash back forex yourself, it's a win win situation.

If you have any questions about the system feel free to ask.

leerees
Aug 02 2011 at 09:44
75 posts
Also a little bit more about the system.

Safety:

The EA I use has been backtested using 99% tick level data, before I found this EA and got involved with backtesting myself I was unaware that a lot of EA's are backtested with 90% data or worse. Anything less than 99% is worthless, which is why you hear a lot of people say backtesting doesn't work. They've seen an EA make millions of dollars on a back test but when they put it on a real account it makes no where near that or worse still looses.

Entry:

Unfortunately a lot of people believe that you can make millions with your 1000 dollar accounts. This is due to false marketing and what I believe to be faked demo accounts here on myfxbook.
The reality of forex trading is you should not be risking more than 0.01 lots per trade on a 1k account, especially if you plan on keeping your profits.

You might find this boring and I admit my system does look boring compared to the others but it's real, and when you're watching your own real live account collecting real cash and with low drawdown you'll be just as excited about safety as you was about profit.

Obviously we are all here to make money but SAFETY and MONEY MANAGEMENT comes before profit. Never jeapordise MM for the sake of a few extra dollars.

leerees
Aug 02 2011 at 10:05
75 posts
In case you are wondering what's happening here, yes I'm willing to share this EA but I do ask that you sign up under my cashbackforex link so I receive a little commision for sharing the secrets, this isn't my EA but it's written by a group of trusted traders in forex and backed by a community, I'll be sharing my set files for the EA with you.

leerees
Aug 08 2011 at 20:56
75 posts
Today I introduced the 1m trade both ways 'scalper'. The setup is a grid trader, the trade both ways nature means one chart is constantly adding profits should the other run into draw down, this helps keep the overall drawdown of the whole account to a minimum. When both charts are open and the market is ranging they create a powerfull hedge to reduce drawdown.

This addition will help to bring in more profits. Today the 1m brought in around £60 profit, which is very nice considering the low draw down.

Once I've made £1000 profit from lee's live I intend to setup another live account for one of the CL systems, I will share the other systems if people ask however I really only feel comfortable about sharing lee's live at present, because it has been fully backtested on 99% tick data.

leerees
Aug 10 2011 at 09:19
75 posts
Some of you have emailed me and asked what my withdrawel plans are:

Withdrawel strategy: £600 withdrawel per £1000 of profit.

Each time the account makes £1000 I will withdraw £600. This ensures that we are constantly building equity in the account aswell as making a regular income.

The initial investment is £1000 (£963 after bank fee's) so it only takes 2 withdrawels to be running on free money.

You may be asking why I don't work in percentages and the answer is simple, this account does not increase lot sizes with balance, the aim here is to minimise risk as we go along so we will be making the same profit weather we have £1000 or £10,000. Remember the primary goal is to get money out of this account and into the bank!

Please keep your questions coming, I'll be happy to answer all.


leerees
Aug 16 2011 at 09:33
75 posts
Hi Guys a few more questions that you've asked.

Q) Is this a cents account?

A) No, however this EA can be run on a cents account.

Q) What is the minimum amount of money I can start this account with?

a) £500, however this would be without the 1m traders, so you will make less, around £10 per day. Once you are up to £1000 you can enable the 1m traders. which will make you £50 + a day.

Q) How do i know this account is real?

A) I could forward you a broker statement or maybe provide an investor password so that you could log in with MT4, other ideas would be you could log into my pc using team viewer etc, basically I'm willing to provide whatever proof you need.

Please note however that I am not going to go to all this trouble for time wasters, so unless you have a real live account ready to go and signed up under me do not bother.


leerees
Aug 27 2011 at 12:54
75 posts
Dear investors / traders.

I no longer use cash back forex, instead I will be offering pamm accounts. A pamm account is a broker account that allows me to trade on your behalf.

If you are interested please send me a private message here.

ClaessonI
Aug 29 2011 at 07:19
1 posts
Dear Leerees, I'm a newbie on myfxbook, just picked up on your thread. Sorry to see that you're switching to a pamm account arrangement, which unfortunately won't fly with my backer. Would you consider cash back on a 50' account at Alpari UK? Regards, Claesson

leerees
Aug 29 2011 at 09:41
75 posts
Hi ClaessonI

Alpari UK do offer pamm accounts however they are a dishonest broker so I will not trade with them.

I'm still researching it but it's more than likely I'll be offering the pamm accounts with pepperstone, they are based in aus but accept clients all over the world, as it's a pamm account you won't have to worry about latency. Private message me your email and I'll email you once it's up and running.

Lots of the reputable brokers are cancelling their contracts with cashbackforex so we will no longer be able to receive commisions anyway.

SaltyWaters
Sep 01 2011 at 17:37
247 posts
Howdy leerees,

Are the following trades manual entries:

08.31.2011 21:00 EURUSD Buy 0.17 1.43832 - - -107.81 -102.6 1.07

09.01.2011 16:18 EURUSD Sell 1.20 1.42359 - - -341.91 -46.1 0.0


Aren't these lots to much for an account that size?


Do you have the backtest report for a pick?

How long did you forward test before going live?

It's a shame to see all the profits going down the drain after all the nice work that's been done.

Cheers.



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