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Wallstreet Forex Robot (By birt)

Gain : +1.82%
Drawdown 40.19%
Pips: 571.7
Trades 1793
Won:
Lost:
Type: Real
Leverage: 1:500
Trading: Automated

Wallstreet Forex Robot Discussion

birt (birt)
Aug 06 2011 at 10:00
166 posts
It's really up to everyone's preference whether they stop it when there are news or not. You have to think whether you have the time, patience & energy to babysit it through major news or not. The authors recommend ignoring all news.

Myk2elS2ilver
Aug 06 2011 at 10:03
150 posts
Yes, in the worst case it will be three times the stop loss of 120 pips if the bot opens 3 pairs simultaneously. And than maybe another hit of 3 pairs simultaneously. So that is a loss of 3x120 3x120 = 720 pips. That is not so bad... I leave it on

birt (birt)
Aug 06 2011 at 10:05
166 posts
Well, if you're worried switch it off. Seriously, if you have the time & patience to babysit your EAs and stop them when you consider it prudent, you will generally have better results than the mass majority. However, it's not an easy task determining which events to consider and which events to ignore and keeping up with the news all the time.

Myk2elS2ilver
Aug 10 2011 at 16:09
150 posts
Be prepared the CHF being intervened soon

So I expect the coming months some heavy loses of this currency pair

source: https://traderdannorcini.blogspot.com/2011/08/central-banks-losing-in-wars-of.html

But it is all temporary of course

trader757
Aug 13 2011 at 10:03
51 posts
I wonder why this bot it is performing so bad since the begining of August. Market conditions have changed significantly in august. High volatility, wild moves in a single day, etc, but it would be interesting to know why it performed so poorly during this period. Maybe just the developer can aswer that.

For those considering this bot, maybe this is the right time to start after this dd. Just my 2 cents.

Myk2elS2ilver
Aug 13 2011 at 11:20
150 posts

trader757 posted:
    I wonder why this bot it is performing so bad since the begining of August. Market conditions have changed significantly in august. High volatility, wild moves in a single day, etc, but it would be interesting to know why it performed so poorly during this period. Maybe just the developer can aswer that.

For those considering this bot, maybe this is the right time to start after this dd. Just my 2 cents.


The answer is given above: Intervention

My two cents

Myk2elS2ilver
Aug 15 2011 at 15:53
150 posts
Looks like another 120 pips loss of the USDCHF is coming. This aint funny anymore. 😭

dalecam (dalecam)
Aug 15 2011 at 16:17
70 posts
My2kelsilver - you should be expecting this heavy drawdown because you set your position sizing to 5%. This is VERY aggressive.
So you should expect 30 to 40% drawdown - more if you set the aggressive 'trade more lots' when losing feature.
So you either tone down your postion sizing to a reasonable percent if you cant handle drawdown, or if your greed wont let you tone it down, learn to cope with big drawdowns.
If you are new to trading - take this as a lesson, so next time trade with a much smaller % risk. Birt and I both trade on 2% risk. We rarely see over 20% drawdown, and we are adequately rewarded.
You will end up making more money than us in the long run if you leave it at 5%- but your ride there will be MUCH scarier.
 

Myk2elS2ilver
Aug 15 2011 at 16:20
150 posts
No, have set not set my position size to 5%. I have set it to 2,5% long time ago. But even with 2.5% you have no funds anymore after 10 times the 120 pips loss. I am certainly not new to trading. But I am new to trading with bots. Good luck and thanks for your advice. All the best.

EDIT: the 120 pips loss has occurred now more than 6x the past two months. 4 times to go
EDIT2: It seems that miracles still exist. No loss this trade....

Myk2elS2ilver
Aug 24 2011 at 08:17
150 posts
I have noticed no updates anymore for this bot?
Updated: Aug 22 at 23:36

Is it shut down? I hope not.

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