I'm pretty impressed with AlphaPro 4.5 and the team at ElevatedFX. Their EA is able to produce very consistent results even through some volatile periods that have occurred over the last two months. The beautiful thing is that I have not touched it since I eliminated two currency pairs at the start of September.
Looking at the August results, it was clear which pairs were producing the most results. So it made sense to concentrate on the main three. That was the only change I had made since starting at the beginning of August.
This month ElevatedFX upgraded their website, affiliate program and AlphaPro EA so just yesterday I moved this account onto the new VPS platform and updated EA. What's cool is that now there is a News Filter and an Auto Range setting for recovery levels that is based on the ATR of the given pair. That's sweet because now the EA will pause trading before high impact news and automatically restart it after the dust settles. With the Auto Range feature, the recovery levels will be used more intelligently because it uses the average true range to determine the range for determining when to start recovery instead of using a fixed range for all pairs.
If you are looking for an EA that produces consistent results, I highly recommend AlphaPro 4.5
The beauty of the system is that each person can configure it for their own risk tolerance.
If one desires to trade with less leverage, select that option when you setup your account with the broker. If you want to trade with smaller lots, use a higher value for the managed lot setting. Set lower daily targets to keep drawdown within your particular comfort range.
What is universal is the platform. The configurability of the system provides plenty of options for adjusting the trading to suit each person's tolerance for risk.
It's nice to see such results, of course, but on the other hand, I'm always afraid that there's no indication of what you're going to lose, because any Expert Advisor can also cause losses, and it's impossible to assess this with this format without practice.
One of the things I monitor is the Risk of Ruin and also the win rate. On this account the win rate started at 68%, now it is 69%.
Also consider this as a way to mitigate your risk.
Build your income to the point where you double your money, then withdraw your initial investment and continue trading with profits. Using this strategy you are actually trading with zero risk and your return is infinite. At a 3.36% rate of compounding, you will double your money in 21 business days. (If it was somehow possible to achieve a 3.36% daily increase in equity, that is...)
Also, it would be foolish to believe nothing could ever happen because as you know there is always the possibility of loss, the question is what is the probability of loss. Understand the protection mechanisms in your Expert Advisor. This is one reason why I love Alpha 4.5. It has multiple ways to protect you from loss - Trade management settings, News Filters that pause trading before high impact news and more.
It's going to be interesting to see how we fare as the US election period progresses. One of the features in AlphaPro is a news filter that sources high, medium and low impact news from Investing.com. As a default, I have my Expert Advisor set to pause whenever High Impact news occurs. The system will pause trading 60 minutes before the announcement and resume 60 minutes after.
As we get closer to the election, I plan to turn on filtering for Medium Impact news as well.
Let's see how it goes. As always, you have to be thoughtful about how you are managing risk. May we all continue to prosper with Forex Trading no matter what the strategy being used.
This weekend I will be turning on my equity protection settings. This feature in AlphaPro is essentially a 'circuit breaker' which will trip if the market runs wildly against you. You set it to a percent value which represents the point at which you cut your losses and get out of your open trades.
One way to think about it is as a stop loss for the account instead of an individual trade. The value one sets is relative to the account balance. For example, if you have a $1,000 account, you may be willing to accept a 30% loss overall or $300.00. On the other hand if your balance is $10,000, you may be willing to accept an $800 loss, especially if your account has gained well over $800. In this case you would set the Equity Protection Percent to 8%.
Bottom line is one must be thoughtful about how this threshold is set. It is based on your balance and an amount you would be willing to give up to get out of losing trades if the market is going through some sort of unexpected turmoil. Protect the account, flip the circuit breaker, live to trade another day.
If your Expert Advisor has been performing well, no doubt it will only be a matter of time before the gains you gave up are recovered.
Unett posted: And I would love to try it and I'm not particularly scared of leverage, it's not the most risky approach, especially if you have strong capital...
I'm not sure if you are already trading or not. Here is my Quick Start Guide which lays out the steps from scratch. However if you are already setup with a broker and you just want to try the software for a month you only need to click the link to get an account with the software provider.
Once you have the email from the software provider saying 'Your Software is Ready', I would be happy to help you get setup.
I hope you do at least do yourself the favor of giving it a try...
& copy; 2021 Myfxbook Ltd. Všechna práva vyhrazena.
UPOZORNĚNÍ NA VYSOKÉ RIZIKO: Obchodování s devizami přináší vysokou úroveň rizika, které nemusí být vhodné pro všechny investory.
Páka vytváří další rizika a ztráty. Než se rozhodnete obchodovat s devizami, důkladně zvažte své investiční cíle, úroveň zkušeností a toleranci vůči riziku.
Můžete přijít o část nebo všechny své počáteční investice. Neinvestujte peníze, které si nemůžete dovolit ztratit. 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.
Všechny údaje a informace jsou poskytovány "tak, jak jsou". pouze pro informační účely a nejsou určeny pro obchodní účely nebo rady.
Výkonnost v minulosti neznamená výkonnost v budoucnosti.