Had to share my experience with MFM4. I started running it on a demo account for about 3 months, staring 2015, where my trades matched the MYFXBook trades, if not better at times.
Starting the month of April I moved to a live account, and continue to get the same trades, if not better, than the MYFXBook published trades.
It really does a great job in detecting ranging/quiet states to capture profit. Also the strategy is excellent with capital preservation, getting out of trades when it needs to or capturing just a small amount of profit, if the trades are being held too long. If the trades move in the right direction early it will capture a larger profit, not requiring such capital preservation techniques. If it goes the wrong way, it will begin to close the TP to a closer range in order to get out without too much loss to survive for another day.
Within the last few days I also adding it to a broker that enforces FIFO (I am from the US), and though the spreads are not as good, it is working well with the NFA rules and capturing profit.
So two thumbs up here for MFM4. I am holding about 10-15% per month at this point and love how it does not hold trades for long times in large DD.
Don't think I could be happier with the performance.
Last night i think I had 5 trades, I leave the double down setting as true, so some were multiples, but i made around 1.5% on my account, which is a long way from the negative 19% shown on the myfxbook account.. hmmm Surely brokers cannot vary that much.
OK. did anyone else just lose $180 (I run a 3k demo on MT4), on Gbp/Nzd - but it not show up here on the myfxbook graph? yesterday myfxbook eemed to lose yet my mt4 gained a healthy balance...but now its back down again but not showing on myfxbook. What is going on here? Maybe the owner of the EA can chat
This is an EA NOT a trade copier, I repeat not a trade copier. Your trades will not be the same as vendor. This EA is your typical Night trader being hat it trades the slow late US Asia session where the market is most predictable. One of the many reason spreads get so high this time. And that is where the key to using this lies is finding a broker that give good spreads on minor pairs like aud crosses etc during asia time. This alos have a lot of settings that are adjustable so you can do your own testing and optimize the way you like it.
The night before last my broker opened a trade long gpbnzd, and it dropped over 100 pips on news. Therefore my account droped around 20% or so. Serves me right for foloowing am EA i guess. Did anyone else suffer a similar loss?
Hey I get you try and say it's just an EA but fact is myfxbook is supposed to be his sales verification site for his EA ....so if you promote a EA it should be accurate to trades being automated. He sells his program on myfx records,
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