RevEnginePro Majors REAL Discussion

why this time gbpusd not add order?almost 60 pips+,last time when about 48pips add one gbpusd.

OK now add the second order.

This system is not a grid where it only looks at the distance between orders. It has trading entry logic that must match also.

And, as I write this, we just got that 2nd order.

worry about gbpusd.......😭😭😭

How high is the SL setting of GBPUSD ?

The DD is > - 200 pips actually...is this 'normal' or due to a malfunction of the EA ??

one order -270pips and auto close.
the orther gbp still opening,and -230pips.........😭

rep is not fix stoploss......and hidden the sl.............

So sad...so it´s just another 'Hope & Pray EA', which sooner or later will bring you in big DD-trouble...although there is probably a floating, hidden SL, a fixed (emergency-) SL is absolute necessary to calculate the risk ...or am I wrong ?

The SL is hidden from broker. You can see the constant stoploss values on all the backtests. https://www.myfxbook.com/strategies/revenginepro-gbpusd-2008-2015/77498 - Taking a loss is part of any good trading system. Never hope and pray with ReVEnginePro. Profits are based on long term and not from 1 signal.

Would you rather hold the GBPUSD Long for another 500 or 1000 pip drawdown waiting for reversal? Or cut the loss? Its up to you. You have full control to do as you like. I provided a profitable long term settings to cut the losses!

@ralle

RedRhino posted:
I'll be adding a money module / risk per trade parameter to the next update. Normally , I would use the Stoploss value and the account equity to determine the lotsize. For example, 10,000 equity with 200 stoploss with 1 Percent risk would be a lotsize of 0.05

10000 Equity
Risk 1 % = $100
Stoploss 200
Lotsize 0.05 ( $0.50 per pip )
200 pips at $0.50 = $100 at risk.

Is this what you want? Or are there any objections?

Of course. By using a fixed Stoploss we can calculate proper Risk Per Trade.

Hi, yesterday the GU trade has reached profit zone about 40 pips plus but the SL still haven't move down to lock the profit, instead revtraderpro has already moved the SL taking for profits. I believe this EA would have probably target for more pips.
Secondly from my monitoring the AUDUSD pairs, when the second order kicked in after a while the TP has moved to breakeven level to protect or lock the profit? Market is full of uncertainty, would this better if we cater our strategy more focus on the protection but in the mean while we might lose the trades as well.

Yes, Focus on protection and let the better signals give us yield.

If GBPUSD moved just a little more in profit, the SL would have started trailing to lock in profit. Once more than 1 order is open the EA looks for Breakeven protection to exit the basket

Frank, I haven't started trading live with this, since my demo is in pretty bad shape. Already lost 10% of the account within 3 weeks. SL of 210 pips is wiping off pretty much every small gains it makes. I see that you use different settings on real account, SL is more than 210 pips there.

I guess it might work with different settings but this 1 demo license isn't letting me do anything. Can't you relax on that restriction please? It would be beneficial if many people test on their demo and report back, right?

I mean, restricting to 1 real license is just fine, that's what pretty much all vendors do, but please remove restrictions on demo accounts. Otherwise I just might not be able to use this, which is a shame.

I can't remove the restriction on the demo because someone would eventually abuse that freedom. The license numbers can be changed when I make an official Update: https://redrhinofx.com/update-policy/ - Until then, continue demoing with the account that you are using. Your next demo should also have such as 1 Million balance and Non Expiring at your favorite broker.

Version 1.2 is almost complete.

When an update comes out I want to prove that its worth while and not just add features just because a client wants it. For example here are Version 1.0 to version 1.2 comparison - https://www.myfxbook.com/members/Revenginepro

I have added many features including a revision on the entry logic, It will no longer trade as RevTraderPro.

I have added the CloseFridayProfits and prevent new signals on Friday, however backtest results are worse and not improved.

I would rather not include such a feature because it can't be proven to help. I understand the Weekend GAP and that is the reason why other traders want the feature. Maybe this feature should be left OFF and switched on manually from time to time based on Econ News.

Version 1.2 will include
Money Management based on Stoploss value ( Risk Per Trade )
Spread Filter
CloseProfitableFriday
PreventNewSignalsFriday

I liked your idea to lock in profits during ranging markets, This will take some more time.

I do like the ideas and suggestions that come with feedback and I want more opinions but unrestrictive demo's isn't an option.

Thanks. I am wondering how someone would abuse demo accounts? Could you please clarify?

@fxdad By simply sharing the software that would run on any demo account. Once on demo account, you have all the signals and can transfer to live accounts by many methods.

The good news is that I am actively working on software and updates will come through out years ahead allowing many opportunities to switch the Account numbers for your license.

RevEnginePro 1.2 will be released shortly - https://redrhinofx.com/rev-engine-pro-version-1-2/

Contact me if you need to change your account number

@RedRhinoLab send you email that i need to change account of rep 1.2,but need one or two week to open a new mt4 account.........

Frank, I had sent you my demo & real account details. Please let me know if the 1.2 version is ready for download.

Also, do you have the forward test of 1.2 version uploaded here?