Discussion FxPapa Expert Advisor

It was great how FxPapa held onto that last GU sell trade and closed it for +27 pips! I thought it would close for only a few pips or at the most +10 pips, but it held out for the big gain... 😀

Hi FxPapa,
My last trade on Gbpusd closed at 1.61130 instead of 1.60994 on your account. You said that the closing price may vary because of the different data of the brokers. Could you detail what could make such a difference. My broker is FXCC.

   jcarre posted:
   Hi FxPapa,
My last trade on Gbpusd closed at 1.61130 instead of 1.60994 on your account. You said that the closing price may vary because of the different data of the brokers. Could you detail what could make such a difference. My broker is FXCC.

Hi

The reason is the big and sudden move of GBPUSD. I checked some of our clients accounts. The profits are different but the good point is that all had profit.

Regards

Well, I subscribed today!!!!!!!!!!

Yeah excellent gain earlier this week, +33.4 pips

you mentioned before that the EA open maximum 3 positions at the same time, do you mean 3 positions per currency pair?

Amazing stats, sir.

   CBuilder posted:
   you mentioned before that the EA open maximum 3 positions at the same time, do you mean 3 positions per currency pair?

Hi

No, the max open orders are always 3.

Regards

Cbuilder,

FxPapa uses a grid system in 2 currencies. It opens 1 position, GBPUSD or EURUSD. If it moves about 60 pips against the trend, it opens a 2nd position, same currency always. If it continues to move against the trend, it will open a 3rd position. If it continues to move against the trend, it will close all positions in loss, losing the risk you set in your account. If you set 15, you will lose 15% of your account. The good news is that FxPapa rarely opens 3 positions, it wins in 1 or 2. If you check this real account, you will see FxPapa opened 3 positions only once in about 6 months and was able to recover, closing the whole set (3 positions) in profit. When there are more than 1 position open, same currency always, it will close as soon as their sum is in profit or is close to zero. As far as i know it will not trade on Fridays. It may happen (it happened to me once) that FxPapa closes in small profit (typically 2 positions) and I have a small loss. I have been using the EA since December and this is a very good product in my view, you call me a happy client. The gains are close to the ones FxPapa has if you don't intervene.

Regards
Fabio

thanks for the explanation therebox :)

Yeah, thanks Fabio :)

Hello FxPapa,

I was making some calculations, the other day, and got the strong impression the SL/Max. Drawdown is 200 pips. Is this correct?

Regards

   Alec posted:
   Hello FxPapa,

I was making some calculations, the other day, and got the strong impression the SL/Max. Drawdown is 200 pips. Is this correct?

Regards

Dear Alec

The distance between the orders is not always the same but it's about 60 pips most of the time so you are correct.


Regards

Hello I am really new here and installed FXPapa last Thursday.
I have the EA installed on two separate broker's MT4's and on one here and there I see 'Error 721'
Anybody have a clue what this code means?
I really like the way FXPapa works its trades and looking forward to it.

Hi BigSteve

I would not worry about that message, it comes and goes.

Do you see 'Successfully connected to the FXPapa server?'

Yes it does say connected to the server.
I appreciate that you have helped me, thank you lxboston, and have a nice week!!

Hello FxPapa,
The duration of my last trade on EU was only 23 m instead of 58 m on your account.
I though trade closures were triggered by the server and therefore trades were supposed to close at the same time for all the clients accounts. What could explain the above difference in closure time?

   jcarre posted:
   Hello FxPapa,
The duration of my last trade on EU was only 23 m instead of 58 m on your account.
I though trade closures were triggered by the server and therefore trades were supposed to close at the same time for all the clients accounts. What could explain the above difference in closure time?

Hi

FxPapa closes the trades in 2 situations. First is when the trades touch the TP level and the second is when it receives the close order from our server.

Your trade has torched the TP level (about 8 pips) before our server sends the close order. This happens because of difference between your broker's and our broker's tick data.

Regards

   FxPapa posted:
   

   jcarre posted:
   Hello FxPapa,
The duration of my last trade on EU was only 23 m instead of 58 m on your account.
I though trade closures were triggered by the server and therefore trades were supposed to close at the same time for all the clients accounts. What could explain the above difference in closure time?

Hi

FxPapa closes the trades in 2 situations. First is when the trades touch the TP level and the second is when it receives the close order from our server.

Your trade has torched the TP level (about 8 pips) before our server sends the close order. This happens because of difference between your broker's and our broker's tick data.

Regards

so this means now that the EA no longer self closes the positions based on the 10% equity loss? i.e. your server will be calculating the 10% equity loss and when it is matched, it will send close signals to the clients.

that was my suggestion in an earlier post to be able to achieve closer results to your account, did you update the EA to work in that way?

thanks for the great EA