using such small pipsteps and aggressive martiangale and pairs you need at least 100k account to survive..... market is ranging so wait for real trends and watch DD..... had that before using wider pipstep and less pairs..... sry
The amount of MaxOrderLevels, Levarage, and BaseLotSize can be used to determine a Deposit Amount PER PAIR Scenario.
$100,000 with 0.01 Micro lots on 5 pairs will match this Demo in Monthly Return and Drawdown. $50,000 would double the monthly return and Drawdown. The Leverage Available is also very important if you start with less than $100,000. For example, This Account operates on 100:1. You can start off with $50k on 200:1 Leverage if you can stomach the higher floating Drawdown. The higher the Leverage, the safer you will be.
MUST READ --- Most Brokers have a Maximum Allowed Orders of 100, so we can only trade Forex Identity on several pairs ( depends on your MaximumOrderLevel) at a time. Even at 5 Pairs , I can reach the 100 Limit if I use more than a MaxOrderLevel greater than 10 ( I am using 15). If you have a MaxOrderLevel of 10 while trading 5 pairs, you can reach 100 Orders. However, this is very unlikely. It would require 10 Buy and 10 Sell orders opened across all 5 Pairs at once, but understanding this limitation is very important when configuing your portfolio.
Rebates - I highly encourage all participates of Forex Identity to use a Rebate Company for themselves. Learn More Here - https://www.pipinvestment.com/rebates -- The money/bonus/rebate should be yours and not mine. I'll make money trading with my robot and a small fee for the user license. Thank you though for the recommendation.
@Dirk - Thanks for joining the discussion. The GridStep is dynamic and based on current volatility whether you would like a Short or Long Cycle but overall without the Safety features all martingaleGrid systems are aggressive. The SafeMode feature will save the account on any swift market move. The sooner the SafeMode engages the faster the drawdown is minimized. Also, any user with trading knowledge can benefit with the 6 different trading logics from basics Candle > LastCandle to countertrend and longer term trend setting.
It is nice that you open all trades from your demo, I look at your history trades, I find that your EA has some strange functions, Should be good, but not 100% sure.
On today history, It had couple AUDUSD trades, It started with 0.01 lots, 0.02 lots 0.03 lots.. 0.14 lots, Suddently, It jumped to 2.4 lots then 4.2 lots, Is it supercharge = 0n?, it really boost income but not sure how much risk involve.
Also on Oct/16, Market was bad for grid martigale EA, it closed couple pair both buy basket as well as sell basket in lost but overall breakeven, Was it done by its safe fuctions?
by looking at the demo results, it is a great EA, For Grid martigale EA, Their results are quite close in Demo and real account, so I would like to try it.
However, It is little bit confuse to understand how much fund it needed as Forex Envy User.
My understand is that. If I uses Dollar, standard account/0.01 lots, I need $100,000 to get similar results as your demo. If I uses Cent account /0.01 lots, I need $100,000 Cents = $1000 Dollar to get similar results as your demo.
I am thinking to put it $1000 in Cents account to try it, Will it be enough money, My broker allows max micro lots 200, small lots 0.01.
I am looking for other EA than Forex Envy, Forex Envy is very aggressive, Its DD can suddenly go really high and might blown up, I am looking for other EA more safer even with less return so it can double their money before blown up account.
Great Questions and thank you for looking at the Trade history. I was waiting patiently/hoping someone would ask these questions.
AUDUSD - I closed these large Lots out manually:
1.) Forex Identity has the ability to have ANY trade closed and the Basket TP will reset automatically for the rest of the trades. This will allow us to close any Large/ Risky Lotsize at Profit IF we are watching our accounts. The benefit that I see in this ability is future features. ( I'll keep it a secret for now) 2.) If we close the Highest Level ( largest Lot Size) at profit manually , we now have an opportunity to have the same Lot size open again, allowing multiple High level trades being closed out before the main basket is closed on the retracement. It is just an option for anyone watching their account and yes they can benefit from this because Most profit is generated at these higher Levels.
Oct 16 - I closed all baskets, and uploaded the latest Edition of Forex Identity.
SuperCharge - Allows any of the 6 Trading logics to Enter a trade once the Grid Distance is confirmed. ( Trades more like a standard Grid)
SafeMode - Decreases Basket TP , Slows down Trading Frequency ( Central bank intervention, Huge CHF Spike JPY Spike - Your account won't BLOW like Forex Envy's Short/Long Cycle in these cases). - And SafeMode will change the Logic to desired SafeModeLogic and turn off SuperCharge Automatically. By adding this Feature, Forex Identity is profitable through the Financial Crisis in 2008.
Cent Accounts - ( 200 Max Orders - $1000 - 0.01 ) YES, perfect setup. What broker will you use?
STD Accounts - ECN Spreads $100k on 100:1 Leverage with 0.01 Micro Lots will match this account $50k on 200:1 Leverage with 0.01 Micro Lots - Double the Drawdown and Monthly Gain $25k on 500:1 Leverage with 0.01 Micro Lots - 4 Times the Drawdown ( Insane) and 4 times the Monthly Gain
Cent Accounts - 1 Pip == 0.01 Cent $1000 = 100,000 Cent on 100:1 Leverage will match this account $500 = 50,000 Cent on 200:1 Leverage - Double the Drawdown and Monthly Gain $250 = 25,000 Cent on 500:1 Leverage - 4 Times the Drawdown ( Insane) and 4 times the Monthly Gain
Cent Accounts normally offer more leverage and this can be beneficial to you. You will have more FreeMargin allowing additional Pairs if the Broker allows more than 100 Orders.
If you don't have the required Capital as mentioned above, Forex Identity has a lot of options to run at smaller balances. For Example:
1.) Decrease the MaxOrderLevel 2.) Engage SafeMode sooner 3.) Only use Long Cycles and if you decide to use Short Cycles, Only use 1/2 of the MaxOrderLevel that you would normally use with the Long Cycles. This will keep the Lots very Small. 4.) Do not use SuperCharge or Logic 0: use the Trending or CounterTrend Logic on M15 - M30 - H1 Charts 5.) Trade Less Pairs.
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