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MFM5 (By ex4systems )

The user has deleted this system.

MFM5 Discussion

FerchoFX (fer_LF)
Jun 27 2015 at 19:16
82 posts
Yes I know, but I think that if we put Download settings TRUE, this work to put buy or sell will be made by the vendor...I want to believe that....
Joseph (Anubis)
Jun 27 2015 at 19:17
87 posts
Currently (June 27), the following pairs are on a downtrend (sell): EUR/CHF, EUR/CAD, CAD/CHF.
"Risk means more things can happen than will happen."
Joseph (Anubis)
Jun 27 2015 at 19:24
87 posts
fer_LF posted:
Yes I know, but I think that if we put Download settings TRUE, this work to put buy or sell will be made by the vendor...I want to believe that....[/quote

That may be. However, MFM4 almost always traded long. We need clarification from the vendor.
"Risk means more things can happen than will happen."
ex4systems
Jun 27 2015 at 19:52
22 posts
fer_LF posted:
That may be. However, MFM4 almost always traded long. We need clarification from the vendor.

If Download_Settings is set to true 'Side' is downloaded. You do not need to adjust any of the settings, the EA is fully automated.

If you are going to use your own settings I would recommend against only buying in an up trend and selling in a down trend. Markets range most of the time, if the market is high, it is in danger of falling and not returning. It would be a better idea to short then (counter trend trading) The strategy has nothing to do with trend, trend is unreliable unless you have some fundamental reason to beleive that the market is going to keep trending.
FerchoFX (fer_LF)
Jun 27 2015 at 20:18
82 posts
Ok, so, Download_Settings will be 'true'

Personally I have shutdown all my EA´s until monday by this week
bundesrepublik
Jun 28 2015 at 03:18
192 posts
I left everything to default except stop loss. ( changed to 1 ). Not having stop loss is just wrong.
wuminati
Jun 28 2015 at 06:28
8 posts
which broker is good for this ea?
bracker
Jun 28 2015 at 06:44
15 posts
I have a question for you guys. In Time_Start the correct format obey UTC notation? I ask because the time zone changes, like you know
ex4systems
Jun 28 2015 at 23:20
22 posts
bracker posted:
I have a question for you guys. In Time_Start the correct format obey UTC notation? I ask because the time zone changes, like you know

Time_Start is an integer, you only type numbers. (0-2359)

You time zone is not relevant, if your Time_Offset has been set properly, a Time_Start of 0 (00:00) will always equal 5pm New York time.
FXtrader2010
Jun 29 2015 at 01:16
724 posts
MFM5 in today ! Very excited for this !
bracker
Jun 29 2015 at 06:40
15 posts
Very strange, my MFM5 didn't put any order till now.
bracker
Jun 29 2015 at 06:40
15 posts
In EA setup wy have this information: 'If Download_Settings is set to true the EA will automatically determine the proper Time_Offset and display it on the chart screen.' These means that I don't need to setup the Time_Offset no?
bundesrepublik
Jun 29 2015 at 08:48
192 posts
My MFM5 lost about 2% with 3 stop losses... Im using default settings with stop loss set to 1.. Vendor account had profit...any idea why?
Was it just me or it did happen to he rest?
jared77
Jun 29 2015 at 08:58
16 posts
No it happened to me as well. $10,000 lost on a demo account over night on the new one, and I too had used a stoploss setting thinking it would be safer (as previous month I lost 28k on a demo in ONE trade without stop loss).

If the vendor can explain if stop loss is not set correct, would be good. I have removed SL for now on demo mode. If we set no stop loss, how is this EA protecting us against 28k drops like I suffered previous?
todompoll
Jun 29 2015 at 11:27
54 posts
I started up MFM5 version over the weekend and had great trades last night with Tallinex. Several excellent TP hit for some nice pips.

I am using the auto downloaded settings....I am not changing the default settings at all. Would expect others should do the same.

bundesrepublik
Jun 29 2015 at 12:27
192 posts
Could vendor come please and explain? todompoll says he had great trades and Jared77 and myself had stop losses? how is that happen? ( the only point here is I put the stop loss to Automatic (the rest is just the same ).

Should not the system be more standard? Now we are getting quite different results than Vendor. ( during MFM4 I had more similar trades than on MFM5)

Regards
ex4systems
Jun 29 2015 at 13:09
22 posts
bundesrepublik posted:
Could vendor come please and explain? todompoll says he had great trades and Jared77 and myself had stop losses? how is that happen? ( the only point here is I put the stop loss to Automatic (the rest is just the same ).

Should not the system be more standard? Now we are getting quite different results than Vendor. ( during MFM4 I had more similar trades than on MFM5)

Regards

As I said in the setup tutorial, stop hits are rare, but if you are using a hard stop it will happen sometimes. I also stated that I do not use a hard stop and I do not recommend that you do.

Exit strategies are often more complicated than a simple stop loss. The EA is not a 'pray for return' EA, it will cut losses. If you are not comfortable with the risk, reduce your lot size, the EA will not blow the account at default lot sizes.. I only put a hard stop feature into the EA because many of you will complain about not having a hard stop. Listen to me and leave the Stop_Loss set to 0.

The EA was designed to use a hard stop, so if you choose to, you will still make money, however the results will be slightly different. Also, the EA looks at the broker's recent spreads, so trades will vary from broker to broker.

I've been busy setting up the New EA and missed the Yen news release yesterday, significant news releases are rare on Sundays. Had I seen them, I would have shut the Yen's down. That's what caused the volatility in the market yesterday. Fortunately most of you benefited, I had one trader that made 30% yesterday with ICMarkets.
bundesrepublik
Jun 29 2015 at 16:10
192 posts
Thanks ...

I will set all the stop losses to ' 0 ' and put customes lot sizes. I think at the same time we would have the same settings as yours with lower lot sizes.

Thanks again for your support ex4systems.
jared77
Jun 29 2015 at 20:18
16 posts
agreed ex4sysytems, but what do you think of 2 x 28,000 losses on my 100k demo from previous version due to no stoploss? should we have to monitor this EA or put a very large stop loss in to try and limit those risks or do you think your new EA is vastly improved?
ex4systems
Jun 29 2015 at 21:46
22 posts
jared77 posted:
agreed ex4sysytems, but what do you think of 2 x 28,000 losses on my 100k demo from previous version due to no stoploss? should we have to monitor this EA or put a very large stop loss in to try and limit those risks or do you think your new EA is vastly improved?

What was your lot size?
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