Tom'sEa WPFX LIVE (By TomsEaWPFXlive)

The user has deleted this system.

Tom'sEa WPFX LIVE Discussion

Aug 17, 2011 at 20:57
62,519 Views
1,196 Replies
Member Since Jan 04, 2012   10 posts
Jan 31, 2012 at 07:42
Does anyone have a ray of hope on this eur/usd and Gbp/Usd trending. Hanging in there, but need a nice reversal! After this round I think its time to go back to risk level 1. Also.. should u change the risk level in the middle of trades going on?
Member Since Dec 09, 2011   42 posts
Jan 31, 2012 at 08:03

   spratrbo posted:
   Does anyone have a ray of hope on this eur/usd and Gbp/Usd trending. Hanging in there, but need a nice reversal! After this round I think its time to go back to risk level 1. Also.. should u change the risk level in the middle of trades going on?

We should have our answer in the charts today
To live the life of the Professional Bum.
Member Since Nov 06, 2011   181 posts
Jan 31, 2012 at 08:33 (edited Jan 31, 2012 at 08:53)
Hi , below are some not so good news if we believe FXCM sentiment indicators.



Ultimately, Fughe is right in suggesting a plan should be made to manage a further upthrust and Julian is right in that the charts will tell the tale.

What to do to manage; this is the real question...

Ultimately, from my point of view, not many options are available: Close positions, hedge against positions or increase equity and wait for the pullback (or a combination of the three).

GBPUSD expecially does seem unstoppable in its rally and the recent pullback was pretty lame.

EDIT:
I just wanted to add (at a cost of sounding pedantic) that HOPE is normally not a trading strategy and should not be part of whatever plan anyone implements to manage this situation.

Attachments:

paulrozza
forex_trader_53345
Member Since Nov 13, 2011   53 posts
Jan 31, 2012 at 08:38
I agree with your comments Julian, fughe and tradingshed, and looking at the way this EAworks increasing equity seems to be the best option whilst reducing risk and letting the EA do its thing.

Obviously market sentiment is stating that that could be throwing good money after bad...
Member Since Feb 22, 2011   4862 posts
Jan 31, 2012 at 08:54
Hi guys,

to be honest i downloaded st. called TOM's EA 1.88 from Internet and ran it on my own VPS.

It is working like a miracle so far - for the 1 month i a m using it. Almost all trades end up in profit, with $1,000 demo account is is opening 0.01 lot positions and the largest position was 0.06 lot. Also the largest equity DD was like 4% ($40) only.

I do not suffer from any issue and i do not have big DD so my point: isn't version 1.88 better?
Member Since Nov 06, 2011   181 posts
Jan 31, 2012 at 09:07
Togr,

good on you! :-) I do not think it is the version. I run 5 live accounts and 1 demo with TOM's EA.

The 5 Live accounts have all the same pairs and same settings. However, only 2 of them have a DD problem (28% and 36%).
The other 3 are running with a DD between 10 & 20% (at time of writing!) which is within my risk tolerance.

The Demo is running 8 pairs @ RL 24! (that is right, RL24 = 8x3) and is only standing now @ 18% DD.

So, my experience is not consistent across the board.

The only difference between these accounts is that the 2 with the DD problem have experienced the Global Profits server shut down issue and the other 3 have not.
Member Since Feb 22, 2011   4862 posts
Jan 31, 2012 at 09:23

   tradingshed posted:
   Togr,

good on you! :-) I do not think it is the version. I run 5 live accounts and 1 demo with TOM's EA.

The 5 Live accounts have all the same pairs and same settings. However, only 2 of them have a DD problem (28% and 36%).
The other 3 are running with a DD between 10 & 20% (at time of writing!) which is within my risk tolerance.

The Demo is running 8 pairs @ RL 24! (that is right, RL24 = 8x3) and is only standing now @ 18% DD.

So, my experience is not consistent across the board.

The only difference between these accounts is that the 2 with the DD problem have experienced the Global Profits server shut down issue and the other 3 have not.

Hey,

i forgot to mention i am running only 1 pair - EURUSD so my profit as well as my DD is limited.
On the other hand with $1k and martingale type of EA it would be too dangerous to run EA on more pairs...
Member Since Jan 24, 2012   60 posts
Jan 31, 2012 at 10:16 (edited Jan 31, 2012 at 10:40)
Seems to be manually closed- look at the times for each closed E/U trade, tradency should also reflect accordingly...or he assumed it should mirror but it didn't... (then again, if it mirror Tom's non-tradency a/c, it should have E/J & A/NZ, so... case closed)

seeing a fake-out for E/U. If the EA works as it should, soon should be the time to initiate closure like for Tom's account earlier...

TradingShed>>> I'm thinking even if you deactivate, if it send the pending order before that, it'll still remain in the broker's server.

Maybe next time we see a big retracement that would reduce our drawdown for the pair, it's quite a good idea to reduce position like Tom's non-tdc a/c... before it ballooned more and more.

Member Since Nov 09, 2011   59 posts
Jan 31, 2012 at 11:02
Not enjoying this one bit! Drawdown now at 75%. They need to pull back or i'm bust very soon.
Member Since Nov 06, 2011   181 posts
Jan 31, 2012 at 11:07
Good numbers out of Europe...
Member Since Jan 24, 2012   60 posts
Jan 31, 2012 at 11:17 (edited Jan 31, 2012 at 11:28)

   tradingshed posted:
   Good numbers out of Europe...
hope we got a *confirmed* x2 top...

If the EA didn't basket close the E/U, maybe it's a good idea to do it manually.

### DO work it like Tom's example tho' ### The more i think about it, i see no bad side to this

i see a big channel forming...if it works right...

Member Since Nov 06, 2011   181 posts
Jan 31, 2012 at 11:30
We have broken through previous resistance in GBPUSD albeit intraday.

If this thing does not seriously come down now, there is no much in terms of resistance until 1.6000 - 1.6200-ish.

That would be a ride!
Member Since Jan 24, 2012   60 posts
Jan 31, 2012 at 11:31

   chrissav posted:
   Not enjoying this one bit! Drawdown now at 75%. They need to pull back or i'm bust very soon.

Best stay safely within the gudelines, if it works in our favour. No hurry- this should be our mantra...
Member Since Nov 06, 2011   181 posts
Jan 31, 2012 at 11:31

   ravenlok posted:
     

### DO work it like Tom's example tho' ### The more i think about it, i see no bad side to this


What do you mean?
Member Since Jan 24, 2012   60 posts
Jan 31, 2012 at 11:40

   tradingshed posted:
   We have broken through previous resistance in GBPUSD albeit intraday.

If this thing does not seriously come down now, there is no much in terms of resistance until 1.6000 - 1.6200-ish.

That would be a ride!

this account didn't close G/U...just as big... man... too correlated...

need to retrace for this too
Member Since Jan 24, 2012   60 posts
Jan 31, 2012 at 11:49 (edited Jan 31, 2012 at 11:52)

   tradingshed posted:
   

   ravenlok posted:
     

### DO work it like Tom's example tho' ### The more i think about it, i see no bad side to this


What do you mean?


the way it seems like it's manually closed for E/U pair.

taken from Tom's closed history for E/U whooper, below- look at the times.

This EA should work as it should below... but most of you didn't get it closed like this for your E/U positions. The EA must have missed it, unlike Tom - manage to spot it & closed it, i think...not confirmed tho'- didn't ask.
                                                   v
01.13.2012 17:16 01.30.2012 18:43 EURUSD Sell 0.05 - 1.26180 1.26493 1.30814 -432.1 -221.62 17d -0.81%
01.19.2012 20:18 01.30.2012 18:43 EURUSD Sell 0.05 - 1.27585 1.29304 1.30814 -151.0 -78.84 10d -0.29%
01.23.2012 13:13 01.30.2012 18:42 EURUSD Sell 0.05 - 1.28122 1.29822 1.30814 -99.2 -52.20 7d -0.19%
01.25.2012 10:16 01.30.2012 18:42 EURUSD Sell 0.16 - 1.29270 1.30347 1.30814 -46.7 -80.68 5d -0.29%
01.26.2012 09:30 01.30.2012 18:42 EURUSD Sell 0.31 - 1.30117 1.31065 1.30814 25.1 73.17 4d 0.27%
01.30.2012 04:01 01.30.2012 18:38 EURUSD Sell 0.47 - 1.30814 1.31801 1.30814 98.7 463.89 14h 37m 1.72%
Member Since Jan 31, 2011   724 posts
Jan 31, 2012 at 12:01
hey guys, something you should consider. Everyone trading Tom's EA has a huge DD at this point and is begging for a serious turn in the market (at least this is what it looks like from my perspective). Retail traders have virtually no effect on moving the market unless you are talking about early Sydney session. You really should start thinking about what these big players have in mind for these currency pairs. If the majority of them decide that the EUR is preparing to recover.....They will ram the price right up through the 1.3250 barrier like it isn't even there. You really seriously need to start thinking about exit strategies and coming to terms with the possible losses you may very well be forced to realize in the very near future. You may very well get lucky and the market has the bottom fall out.....but I am saying....start bracing yourself for the absolute worst case scenario and decide EXACTLY how you are going to handle it right now. Don't get hopeful and cause that to make you delay making these plans.
Make losses, but always come out a winner at the end.
Member Since Jan 24, 2012   60 posts
Jan 31, 2012 at 12:07
Chrissav,
What's your portfolio & RL like?
paulrozza
forex_trader_53345
Member Since Nov 13, 2011   53 posts
Jan 31, 2012 at 12:09
Thanks fughe, appreciate your input as always...very sane comments in a (slightly) insane market (at least at present anyways).

I'm going to ride the DD out on my Tradency account, DD is about 38% there, so room to recover. As for my other two MT4 accounts, DD is far more serious and if the early session dictates, I'm going to add more capital to both accounts and ride this out for as long as it takes. Hell of a way to have to tie up more capital, but I am going to let the EA try and recover over time. Risk has been reduced to 1 on both MT4's so will let them ride until an inevitable retrace occurs (although this may take some time and I'm certainly thinking some of the early to mid trades will blow through their 600pip stop loss barriers).

I'm also hedging long in other accounts on both EUR & GBP to try and recover possible losses if this ride continues. Capital preservation is key here, gotta survive the battle to stay in the war.
Member Since Nov 06, 2011   181 posts
Jan 31, 2012 at 12:15

   paulrozza posted:.....I'm also hedging long in other accounts on both EUR & GBP to try and recover possible losses if this ride continues. Capital preservation is key here, gotta survive the battle to stay in the war.

Ditto. Although I got burned with my hedges a couple of days ago, I still feel that it is the 'saner' way to go, (short of closing positions) expecially if by hedging your broker frees up margin.

I might get burned again but I feel a bit better knowing that it can go higher if he wants to.
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