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Pipable :: Menkent (By pipable)

The user has deleted this system.

Pipable :: Menkent Discussion

Jan 31, 2014 at 05:29
4,152 Views
129 Replies
dhiraj
forex_trader_113355
Member Since Feb 22, 2013   116 posts
Feb 21, 2014 at 12:39
Hi,
Can you share your trading strategy? I appreciate if you can send me the EA or strategy on [email protected].
Member Since Dec 07, 2011   11 posts
Feb 21, 2014 at 17:47
sphantom born again???
Member Since Oct 25, 2013   62 posts
Feb 21, 2014 at 18:39
my_ea posted:
sphantom born again???

I understand our strategies has similarities but we are 100% different vendors with different strategies.
Member Since Oct 25, 2013   62 posts
Feb 21, 2014 at 18:40
dhiraj posted:
Hi,
Can you share your trading strategy? I appreciate if you can send me the EA or strategy on [email protected].

Hi,

here is the strategy:
Menkent is built based on a 10 pip scalping strategy. It opens a primary trade at the entry point targeting 10 pips. If the trend moves in the opposite direction, after 25 pips it opens a 2nd trade expecting a trend reversal. If as expected, the trend does reverse, then both trades will close at the same time/price and if the trend does not eventually reverse, the system will hit a hard stoploss. Maximum number of trades that can be opened at a time is 2.

Please check the full details at: https://www.pipable.com/trading/systems/5
Member Since Oct 02, 2009   53 posts
Feb 22, 2014 at 05:32
an averaging system? what are your system edge?
Member Since Dec 07, 2011   11 posts
Feb 22, 2014 at 09:23
what is your SL??
Member Since Oct 25, 2013   62 posts
Feb 22, 2014 at 09:26
doshur posted:
an averaging system? what are your system edge?

Hi Doshur,

could you please further explain your questions?

Thanks
Member Since Oct 25, 2013   62 posts
Feb 22, 2014 at 18:35
my_ea posted:
what is your SL??

Once you subscribe to the EA, you will be asked what percentage of the account you are willing to risk. We run the EA at 100% risk to show the capabilities but we release reports and backtests every week to show the performance of the EA and to give you a perspective how much risk you should be taking. Here is the information we will be releasing every week starting this week:

1: Backtests of the last week, detailed report as well as snapshot of the trading
2: Maximum drawdown of last week. (Backtests are not receiving news feed so are NOT 100% accurate) as well as the generated profit.
3: Actual trades that has been generated last week as well as the actual drawdown.

By having the information above, you would be able to decide what kinda of drawdown you should expect and what sort of risk you should take.

Please let us know if you have any questions.

Jesse and the other pipable dudes :)
Member Since Dec 07, 2011   11 posts
Feb 22, 2014 at 18:39
Pair Currency selection same as sphantom
TP Same as sphantom
Trades amount same as sphantom
SL same as sphantom

lol & you are saying that we are not sphantom
Member Since Oct 25, 2013   62 posts
Feb 24, 2014 at 08:07
We will be running weekly forward tests of menkent to present the potential risk of the EA more clearly. The test will be running with 1.0 lot size on a $10,000.00 demo account from Alpari UK. Also this test will not have any news feed mechanism so the results would be 100% technical analysis. Please keep us posted with your thoughts and we hope to deliver the best service to you. #forex #pipable #menkent

https://www.myfxbook.com/members/pipable/menkent-weekly-feb-23-mar/845213
Member Since Oct 25, 2013   62 posts
Feb 24, 2014 at 08:09
We have assessed the news release for this coming week and here is the result of expected trades generated by #menkent for Feb 23, 2014 to March 2, 2014:

Expected days with trades: Monday Feb 24th, Tuesday Feb 25th, Wednesday Feb 26th

We don't expect trades on Thursday Feb 27th and Friday Feb 28th

#forex #pipable #expectedtrades
Member Since Oct 25, 2013   62 posts
Feb 24, 2014 at 08:11
Here is the backtests of menkent without news intervention, from Feb 15, 2014 to Feb 22, 2014.This week’s loadtest achieved 107% profit. #forex #pipable #menkent #backtest #expertadvisor #eurusd

Backtest with 1.0 entry lot on 10K account:
https://www.myfxbook.com/strategies/menkent-weekly-feb-15-2014/59625

LoadTests with 8.0 entry lot on 10K account:
https://www.myfxbook.com/strategies/menkent-weekly-feb-15-2014/59628
Member Since Nov 23, 2010   101 posts
Feb 24, 2014 at 14:04
Hello Sir,
Will this be compatible with a US based broker with no hedge and US leverage?
FIFO is not an issue with my broker.
With a 3,000.00 USD balance what is the recommended start position size wit US leverage?

Thank you.
Member Since Oct 25, 2013   62 posts
Feb 24, 2014 at 16:48
BigSteve posted:
Hello Sir,
Will this be compatible with a US based broker with no hedge and US leverage?
FIFO is not an issue with my broker.
With a 3,000.00 USD balance what is the recommended start position size wit US leverage?

Thank you.

Yes it is compatible with US broker as well. We would recommend 0.15 entry lot on a $3000 US based account. Please let us know if you have any questions.
Member Since Oct 25, 2013   62 posts
Feb 27, 2014 at 07:11
#menkent nicely closed two more trades on #eurusd. same trades have closed on most of the clients' account but some still open due to minor difference which we are expecting it to close shortly. We will investigate to find out what the problem was that the trades opened earlier on some clients and keep you posted. #forex #pipable https://www.myfxbook.com/members/pipable/pipable--menkent/822555
Member Since Jan 27, 2012   51 posts
Mar 03, 2014 at 08:54
Oh, look, FxPapa/sPhantom is back again. Didn't take long before the crash of sPhantom!
Member Since Oct 25, 2013   62 posts
Mar 03, 2014 at 20:24
Vitautas posted:
Oh, look, FxPapa/sPhantom is back again. Didn't take long before the crash of sPhantom!

We are an absolutely different service, with different business model and different strategy. There might be some similarities but this is simply a coincidence.

Please let me know if you have any questions.
rob559
forex_trader_29148
Member Since Feb 11, 2011   1916 posts
Mar 03, 2014 at 20:33
wow ..i guess that the same greedy people will fall into that trap again as they did for sphantom and fx papa,how patethic to watch
Member Since Oct 25, 2013   62 posts
Mar 03, 2014 at 20:41
rob559 posted:
wow ..i guess that the same greedy people will fall into that trap again as they did for sphantom and fx papa,how patethic to watch

Thanks for your comment.
Lets look at the following facts:

- We have clearly presented the risk and reward to the potential customers.
- We don't charge an upfront fee and only charge based on the amount of trade that user subscribe to.
- We charge on a weekly basis so user may drop out at any given time.
- We have a wonderful and supportive customer service.
- We offer free VPS with any subscription.

So I'd love to know how/why you'd think this is a trap?

April
Member Since Jan 29, 2014   23 posts
Mar 03, 2014 at 21:15
pipable posted:
rob559 posted:
wow ..i guess that the same greedy people will fall into that trap again as they did for sphantom and fx papa,how patethic to watch

Thanks for your comment.
Lets look at the following facts:

- We have clearly presented the risk and reward to the potential customers.
- We don't charge an upfront fee and only charge based on the amount of trade that user subscribe to.
- We charge on a weekly basis so user may drop out at any given time.
- We have a wonderful and supportive customer service.
- We offer free VPS with any subscription.

So I'd love to know how/why you'd think this is a trap?

April

Well, I can tell you how this is a trap. You are setting no StopLoss on your positions, so your Risk/Reward ratio cannot be calculated. Based on previous similar strategys like sPhantom and FxPapa I would guess that your running a 250 pips stop loss, which for a TP level of 10, customers are dealing with a RRR of 1:25; some time in the near future account will be blown.

You are using the same covering strategy than the other previous EAs; opening a second position in the same direction when initial position is around 30 pips out of the money; that's how sPhantom got blown with a 1100% losses in one day.

You can check that out at:
https://www.myfxbook.com/members/sPhantom/sphantom-auto-trader/585390

Also, it's a HUGE COINCIDENCE that a company is started with almost the same strategy than sPhantom THE EXACT SAME DAY THAT THEIR ACCOUNT LOSSES 1100% IN A DAY; 30-JANUARY-2014
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