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Tom'sEa WPFX LIVE (by TomsEaWPFXlive)

The user has deleted this system.
4X Manager (4XManager)
Nov 15 2011 at 13:48
4 posts
i think, thats enough. its a black box system and who wants to use an ea that at any day it uses a much higher lot size and probably blow out your accout... iam done

Antny (fughe)
Nov 15 2011 at 15:56
724 posts
There are enough new and hopeful people in the market that they will sell plenty of copies. My test account is currently up by about $20k and the drawdown is about $21k. How bad of a drawdown can you get??? From my experience, martingales drawdown alll the way.

Make losses, but always come out a winner at the end.
kishorejoga
Nov 15 2011 at 16:12
313 posts
AGREE with you all,owner as to allow users to choose lots

lobotomy8
Nov 15 2011 at 21:59
140 posts

   fughe posted:
   There are enough new and hopeful people in the market that they will sell plenty of copies. My test account is currently up by about $20k and the drawdown is about $21k. How bad of a drawdown can you get??? From my experience, martingales drawdown alll the way.


I think the same. So, when and how this story ends up ?

Antny (fughe)
Nov 16 2011 at 00:34
724 posts
Well, I finally decided to kill the EURJPY pair. It looks like we are in for a few hundred more pips to the downside and it started opening some big lot sizes far too closely spaced. So, I bit the bullet and killed the trades. Altogether, the loss was in the order of about $15,000 on the EURJPY pair ONLY.

Some of those trades were in excess of -600 pips.

So......one month.....all 6 pairs gained $20,000 and one pair that started trending strongly wiped out $15,000, and it would probably have been much, much more if I had let it run.

Please be exceedingly careful if you run this system. Use the absolute lowest possible risk you can if you are going to use it!!

Final note....make sure you are prepared to lose ALL of the money in the account you put it on. Martingale systems are well known for blowing accounts.

Make losses, but always come out a winner at the end.
Antny (fughe)
Nov 16 2011 at 00:39
724 posts
Also, i would like to add......DO NOT fool yourself into thinking that you will let it run and watch for it to keep it from getting into a big drawdown. Martingale systems are well known for getting into big drawdowns before you realize how bad it actually is. By the time you realize that the market is in a hardcore trend, the DD will already be half your account. New traders....you have been warned.

Make losses, but always come out a winner at the end.
Antny (fughe)
Nov 16 2011 at 15:33
724 posts
One other thing, minimum risk is apparently using 1:1 leverage. i say that because on a $40,000 account, it is opening 0.4 lot positions

Make losses, but always come out a winner at the end.
lobotomy8
Nov 16 2011 at 15:41
140 posts

   fughe posted:
   One other thing, minimum risk is apparently using 1:1 leverage. i say that because on a $40,000 account, it is opening 0.4 lot positions


Not exactly, it is true probably up to 100,000 account. After that it increases lots, e.g. for the account of 200,000 it starts trading with 2.4 or 2.5 lots. I'm talking about 2% risk set up. Fughe, you probably mentioned 1% risk, didn't you ?

Antny (fughe)
Nov 16 2011 at 15:46
724 posts

   lobotomy8 posted:
   

   fughe posted:
   One other thing, minimum risk is apparently using 1:1 leverage. i say that because on a $40,000 account, it is opening 0.4 lot positions


Not exactly, it is true probably up to 100,000 account. After that it increases lots, e.g. for the account of 200,000 it starts trading with 2.4 or 2.5 lots. I'm talking about 2% risk set up. Fughe, you probably mentioned 1% risk, didn't you ?


Yeah....that's where the 'minimum risk' statement enters in. 😀

Make losses, but always come out a winner at the end.
Antny (fughe)
Nov 16 2011 at 23:27
724 posts
Wow....I am using minimum risk on 4 pairs now....and I have a 50% drawdown on my account.

Make losses, but always come out a winner at the end.
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