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MFM4 (By ex4systems )

The user has deleted this system.

MFM4 Discussion

Ben Scoobert
forex_trader_[921]
Sep 15 2014 at 05:58
276 posts
I have been pointed to you by a friend to play devil's advocate to his optimism for your EA.

So please, can you tell me what happened to www.myfxbook.com/members/ex4systems/mfm4/1004470 ? Disappearing stats always make me think an account has popped and been hidden.

I see you add to losing trades, do you ever add more than 1 trade to a losing trade? Is your proposed 8% drawdown for all the open trades on that pair?
Thanks

ex4systems
Sep 16 2014 at 06:45
22 posts
This isn't a new account, 1004470 didn't update for 22 hours or so, so deleted and reposted the same account, I thought maybe it would fix the problem. I expose the trading account number so you can see that it is the same account. 1004470 is simply a number that myfxbook assigns to the link, it is not the trading account number. You can also view this account on MQL4: https://www.mql5.com/en/signals/55479 for some odd reason the numbers never quite line up between MQL4 and myfxbook...

The 3% to 8% max risk is for 1 trade at default lot sizes (0.01 lots for every $100 in the balance) The EA does not trade with a stop loss. I do this on purpose, the EA will always exit a trade at a relative high, losing or not, it does not always wait for the trade to return, this will result in large losses. The 8% estimate is gracious, individual trades will not generally pass 3% draw down. I don't want someone losing 3.5% on a trade them calling me liar... Risk is always part of the game, my EA could fail.

The new version of the EA that I released yesterday has an optional 'double down' feature. It took me a while to program it into the EA as I would do manually; if the EA is in a trade and sees a great trade, it will take both. It near doubles profit while only occasionally doubling risk. If you are concerned about the risk, you can cut the lot size in half. The EA will never take more than 2 trades, never more than 1 if 'double down' is turned off, it is not a martingale, again 'double down' is optional.

I have been using this strategy for a few years, automated mixed and manual. The 30% average in myfxbook account is actually really bad, August is the worst month for trading, I've done over 200% a month with this strategy.

steevefx
Sep 17 2014 at 12:56
18 posts
he deleted that because i noticed that he places manual trades to make good statement.
tell him to unlock magic number and ea comment.
i m sure he will not unlock both. because then you can see his manual trades with no magic number and comment.

Ben Scoobert
forex_trader_[921]
Sep 20 2014 at 12:48
276 posts
So, ex4systems, will you be unlocking so we can see the entire history with magic number?

Dhiraj
dhiraj
Sep 21 2014 at 06:56
116 posts
Hi ex4system,

I used your mfm3 for my two live accounts and in both accounts I had huge loss so I stopped using it. If you have improved your EA, I will give another trial hoping to gain!! Can you send me you back test results for last two years and forward test for at least for 6 months. Please send me your EA as had taken license for two accounts for mfm3 and need to be upgraded.

Regards,
Dhiraj

Ben Scoobert
forex_trader_[921]
Sep 29 2014 at 17:19
276 posts
So is that a manual trade on 16th of September?

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