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Rich Owl (By richowl)

Gain : +431.61%
Drawdown 66.54%
Pips: 15077.1
Trades 1275
Won:
Lost:
Type: Real
Leverage: 1:200
Trading: Automated

Rich Owl Discussion

san4x (san4x)
Mar 22 2012 at 07:53
86 posts
Website is no longer available, I guess they closed shop: https://fourx.me/

Gusrix Forex
gusrix
Mar 29 2012 at 11:41
22 posts

   richowl posted:
   Please let us know if you have any questions about the EA.


Hi Richowl, can you tell me about your EA Money management? $100 / 0.01 lot?
What's broker do you recommend?

richowl (richowl)
Mar 29 2012 at 18:24
7 posts

   gusrix posted:
   

   richowl posted:
   Please let us know if you have any questions about the EA.


Hi Richowl, can you tell me about your EA Money management? $100 / 0.01 lot?
What's broker do you recommend?


Hi Gusrix,

Thanks for your interest.
We started the EA with 0.02 lot on a $100.00 micro account.
Later we decided to lower the risk and as a result the lot size is currently lower than what it could have been based on the initial settings.
We are not using the Money Management capability of the EA, yet the EA does have Money Management system.

Please let me know if you have any further questions.

Thanks.

gwrigh
Apr 02 2012 at 17:09
72 posts
Be very careful of trade size vs account size with grid+martingale. For example, on Feb. 23 it was floating -4500 pips. That's roughly -$4500 at 0.1 pips on a U.S. account with 50:1 leverage. As I write this, it has 24 open trades totaling 0.72 lots floating -540 pips. That would be nearly -$3900 with U.S. leverage. I bought FourX.Me and the vendor was very unsupportive. That EA looked to perform a lot like this one and eventually blew their test account. Buyer beware.

richowl (richowl)
Apr 02 2012 at 17:37
7 posts

   gwrigh posted:
   Be very careful of trade size vs account size with grid+martingale. For example, on Feb. 23 it was floating -4500 pips. That's roughly -$4500 at 0.1 pips on a U.S. account with 50:1 leverage. As I write this, it has 24 open trades totaling 0.72 lots floating -540 pips. That would be nearly -$3900 with U.S. leverage. I bought FourX.Me and the vendor was very unsupportive. That EA looked to perform a lot like this one and eventually blew their test account. Buyer beware.


This EA has nothing to do with Fourx.me.
We are very supportive for our clients and have a great service.
Yes, the EA has experienced drawdown but so does every EA. Yet the return has been so high which explains the excessive drawdown.
Further more, your comment is biased since you are a EA seller.

Let me know if you have any questions.

gwrigh
Apr 02 2012 at 17:41
72 posts
I am not an EA seller. I'm just a regular trader in Arizona, USA. How did you come up with that? I hope you are not FourX.me. Someone else on this discussion said that. Please prove you aren't.

gwrigh
Apr 02 2012 at 17:43
72 posts
I would be interested if you would explain how Rich Owl will avoid complete disaster. Is there a drawdown limit in the money management settings? -4500 pips is huge - what's to prevent -10000 pips and blown account? Thanks.

richowl (richowl)
Apr 02 2012 at 17:44
7 posts

   gwrigh posted:
   I am not an EA seller. I'm just a regular trader in Arizona, USA. How did you come up with that? I hope you are not FourX.me. Someone else on this discussion said that. Please prove you aren't.


Sorry for mistake, I just figured you are not an EA seller. There was a confusion.

richowl (richowl)
Apr 02 2012 at 17:50
7 posts

   gwrigh posted:
   I would be interested if you would explain how Rich Owl will avoid complete disaster. Is there a drawdown limit in the money management settings? -4500 pips is huge - what's to prevent -10000 pips and blown account? Thanks.


Rich Owl has a rigid StopLoss paramter which is on default set as 20% and all people who are using the EA can confirm that.
On our live account, we have targeted higher profit to presend the capabilities of the EA so the settings are not set as default.

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