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Phantom6_01 and Sonic (By sebring001 )

The user has deleted this system.

Phantom6_01 and Sonic Discussion

May 12 2011 at 16:01
11 posts
This teaches the value of testing a system and as the results shows, this EA couldn't holdup. Some idiots would have put real money into this, impressed by the early success, and would have lost their shirt.

The problem with this EA is that it ran out of margin. At 50:1 in the US, it's just not feasible. However in other locations where u can get 200:1 to 500:1 this probably would have worked out. This EA opens a position every hours based on the strength of the currency. An issue is that it opens every single hour, even during light trading hours - eating away at your margin. I do firmly believe it would have recovered under better margin but since I live in the US, I won't spend any more time testing because it doesn't suite my environment.

I am testing a modified version of this EA, Phantom_AddSix_02a. It works on a similar principle but MUCH more selective about the trade,resulting in fewer open positions and, consequently, reducing the required margin. I will post it here soon but it's available on ForexFactory.

Lastly I will say this: manual trading is much rewarding. Automated is easy but so risky. Besides, yu feel better when you actually know how to trade. My manual trades don't make fast money, but it is consistent, and no one cant take away the knowledge and confidence I have gained by trading 'my way.'


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