MetaGenix posted: Looks like the account it coming good - kudos for hanging in there during that draw down!
Clearly you are unable to actually read the stats. Let me clarify that for you.
This is a HIGH RISK trading account with little to no risk management.
The extremely high draw down shows that that bad trades are just being held regardless of how bad they are.
A drawdown of 58% is the same thing as saying that you've lost 58% of the investment capital. The bad trades are being held open, when they should be closed. If the bad trades were closed you wouldn't have a 58% DD.
Currently the account is at a greater than -15% loss of the investment capital.
It's bad trading without the use of Risk Management and this should NOT be praised at all.
Hey I'm not praising the EA at all and totally agree with your sentiment. I'm merely giving kudos for the account owner hanging in there thru that appalling (and ongoing) draw down.Probably badly worded on my part considering the EA is a sham.
It was produced by the same author that wrote the ShapeEA - not sure if you were aware of that one on the MQL5 market, but it got shut down and refunded to those who requested their money back. Well its the same sham author that wrote Tesseract.
I suspect this is the same or similar EA. The back tests completely fall apart after the release date, which proves the EA has hard coded back test data built in, or is almost perfectly curve fitted to the past history. Either way, it's to be avoided at all costs. As there were only two people tracking this account (one of them being me), I wan't too concerned about my comments, and didn't I think it would get such a reaction - lol
I've been trading for 15 years, so I know all about draw down and risk management, but appreciate all the screen shots - I'm sure others will find them useful. In hindsight, I should have worded my comment a little better, just in case it was taken out of context or as any sort of praise for the EA itself.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.