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FxPapa Expert Advisor (By FxPapa)
The user has deleted this system.
FxPapa Expert Advisor Discussion
May 16, 2012 at 07:00
divebubble posted:
You told us that the maximum dd is at 200 pips.
Why is the dd of your basket 226?
I'm pretty sure he was giving an "approximate" total pip loss. No two accounts will exit the trades at the exact same point with an "equity" stop loss feature. My account closed at -202 pips. I'm sure a few other accounts closed with a few more or less pips than that. But the total loss was still about -200 pips...
Member Since Sep 05, 2011
52 posts
May 16, 2012 at 07:01
FxPapa posted:
CBuilder posted:
nevermind, the only thing i care about is that maxmimum floating loss will never exceed 200 pips, i.e. worst case scenario will have realized -200 pips of loss, is that correct?
Yes.
The DD is not the problem. It is and will always be a part of trading.
I just like to know before what the exact risk is.
A loss of 226 is NOT the same like "maxmimum floating loss will never exceed 200 pips"
forex_trader_12840
Member Since Jun 02, 2010
3 posts
May 16, 2012 at 08:03
Fxpapa,
Yes, interested to know the below as well, you lost only a fraction of your account when your MM changed from 0.60 to 0.12, any reasons for that? Rest of the users obviously lost more percentage of the account.
Regards.
Yes, interested to know the below as well, you lost only a fraction of your account when your MM changed from 0.60 to 0.12, any reasons for that? Rest of the users obviously lost more percentage of the account.
Regards.
Prasono posted:
The strange thing is why the last trade LOTS only 0.12 (smaller than previous trades 0.6) ?!
if this money management risk adjust lots with balance /equity, I beliive they change the risk or the last trade is not the same system like before.
Why our lot trade not the same (smaller) with your last lot entry ?!
May 16, 2012 at 08:19
(edited May 16, 2012 at 08:20)
I thought it was obvious that the EXACT loss = the risk you set.. If you set 15% risk. Then exact maxmim loss is 15% of your equity.. This has been explained multiple times.. Think vendor just mentions that if you want a pip reference it will be around 200.. I mean please seriously before buying an ea do look at what the risks are and what the max loss can be.. It really just baffles me how many ignorent people there are and expecting fxpapa to be the holy grail.
As for that it uses 5 times less risk.. Never thought that maybe the vendor thought in these risky times where technical analysis does not really work and what eas tend to be based on.. And decided to reduce the risk until the storm settles? It ever occured to you that it might have been this that has happened?
Vendor is not responsible for your risk settings.. They merely said they used 15%.. But they have the right to reduce the risks when they want to right.. if you want to trade forex without doing anything then go find a fund manager.
I am just stunned how my inbox has been spammed by so many people just whining and whining saying how fxpapa always trade against the trend.. It's not a trend trader.. Again all these posts just opened my eyes how many people just uses/buys ea wfithout knowing the risks and how it trades. And also if you don't know it there is still always demo trading UNTIL you are absolutely comfortable with the risks you have set and with the losses that are accompanied with it.
With this I am unsubscribing from this thread. The serious spam I receive with stupid dumb whining questions are just hard to endure.
As for that it uses 5 times less risk.. Never thought that maybe the vendor thought in these risky times where technical analysis does not really work and what eas tend to be based on.. And decided to reduce the risk until the storm settles? It ever occured to you that it might have been this that has happened?
Vendor is not responsible for your risk settings.. They merely said they used 15%.. But they have the right to reduce the risks when they want to right.. if you want to trade forex without doing anything then go find a fund manager.
I am just stunned how my inbox has been spammed by so many people just whining and whining saying how fxpapa always trade against the trend.. It's not a trend trader.. Again all these posts just opened my eyes how many people just uses/buys ea wfithout knowing the risks and how it trades. And also if you don't know it there is still always demo trading UNTIL you are absolutely comfortable with the risks you have set and with the losses that are accompanied with it.
With this I am unsubscribing from this thread. The serious spam I receive with stupid dumb whining questions are just hard to endure.
May 16, 2012 at 10:03
Lawrence,
The reason they reduced from 0.60 to 0.12 is obvious. They were uncertain that it was the moment to buy and had the feeling it would lose. The problem is that this feeling didn't reflect in the account we use and I think it would be better to stay out. So I view this negatively. Moreover, my EA didn't open the 3rd trade so it's not working as the seller says, which disappoints me deeply because this had to be fixed in version 3.
The reason they reduced from 0.60 to 0.12 is obvious. They were uncertain that it was the moment to buy and had the feeling it would lose. The problem is that this feeling didn't reflect in the account we use and I think it would be better to stay out. So I view this negatively. Moreover, my EA didn't open the 3rd trade so it's not working as the seller says, which disappoints me deeply because this had to be fixed in version 3.
May 16, 2012 at 10:58
Dear Traders
Thanks for all comments.
Yesterday IBFX has reduced our account leverage to 1:10. That's why the trades lots has reduced.
IBFX has done this without our permission. We asked them to explain and I will post their answer here.
The Max DD should be about 200 pips. I'm sorry that ours is 226 pips but this may happens because we don't use hard SL.
The new update will be ready this weekend. We have coded the hard SL and TP point.
Thanks again for your helps and support. We try our best to make the EA better.
Feel free to contact our support ([email protected]) anytime you may need.
Best Regards
Mike
Thanks for all comments.
Yesterday IBFX has reduced our account leverage to 1:10. That's why the trades lots has reduced.
IBFX has done this without our permission. We asked them to explain and I will post their answer here.
The Max DD should be about 200 pips. I'm sorry that ours is 226 pips but this may happens because we don't use hard SL.
The new update will be ready this weekend. We have coded the hard SL and TP point.
Thanks again for your helps and support. We try our best to make the EA better.
Feel free to contact our support ([email protected]) anytime you may need.
Best Regards
Mike
May 16, 2012 at 11:00
FxPapa posted:
Dear Traders
Thanks for all comments.
Yesterday IBFX has reduced our account leverage to 1:10. That's why the trades lots has reduced.
IBFX has done this without our permission. We asked them to explain and I will post their answer here.
The Max DD should be about 200 pips. I'm sorry that ours is 226 pips but this may happens because we don't use hard SL.
The new update will be ready this weekend. We have coded the hard SL and TP point.
Thanks again for your helps and support. We try our best to make the EA better.
Feel free to contact our support ([email protected]) anytime you may need.
Best Regards
Mike
please dont make this new option mandatory, give us the option to choose between hard SL and TP and old ones.
May 16, 2012 at 11:06
CBuilder posted:
FxPapa posted:
Dear Traders
Thanks for all comments.
Yesterday IBFX has reduced our account leverage to 1:10. That's why the trades lots has reduced.
IBFX has done this without our permission. We asked them to explain and I will post their answer here.
The Max DD should be about 200 pips. I'm sorry that ours is 226 pips but this may happens because we don't use hard SL.
The new update will be ready this weekend. We have coded the hard SL and TP point.
Thanks again for your helps and support. We try our best to make the EA better.
Feel free to contact our support ([email protected]) anytime you may need.
Best Regards
Mike
please dont make this new option mandatory, give us the option to choose between hard SL and TP and old ones.
Yes. It would be as you said.
May 16, 2012 at 11:50
phil posted:
gwrigh posted:
At its worst, FxPapa has only had -124 pips of drawdown, with +967 banked pips. That is awesome. I think I will be joining soon.
Don't expect results as good as you see on the myfxbook graph. The results are still ok but not that good.
This was quoted April 3 and it still holds true.
May 16, 2012 at 14:05
It is true that leverage was changed for Canada. It is something to do with IROC and Canadian regulations and Tradestation
therebox posted:
Lawrence,
The reason they reduced from 0.60 to 0.12 is obvious. They were uncertain that it was the moment to buy and had the feeling it would lose. The problem is that this feeling didn't reflect in the account we use and I think it would be better to stay out. So I view this negatively. Moreover, my EA didn't open the 3rd trade so it's not working as the seller says, which disappoints me deeply because this had to be fixed in version 3.
May 16, 2012 at 14:24
FxPapa posted:
Dear Traders
Thanks for all comments.
...
The new update will be ready this weekend. We have coded the hard SL and TP point.
Thanks again for your helps and support. We try our best to make the EA better.
Feel free to contact our support ([email protected]) anytime you may need.
Best Regards
Mike
FxPapa,
Is it possible that you could include audible and visible alerts for all trade openings and closings in the new release? I would very much appreciate this since I cannot eyeball my accounts constantly.
Thank you!
Member Since Dec 07, 2009
134 posts
May 16, 2012 at 14:55
As was already mentioned above, quite amazing that the vendor's account had a reduced position size on gbpusd going into a loss and yet the signal they sent out was normal size so whereas they lost just less than 4% running double risk, we all lost more than 7% at default. I am not impressed with this behavior and it leaves a negative impression with me.
Be afraid, very afraid?
May 16, 2012 at 15:01
robotchallenge posted:
As was already mentioned above, quite amazing that the vendor's account had a reduced position size on gbpusd going into a loss and yet the signal they sent out was normal size so whereas they lost just less than 4% running double risk, we all lost more than 7% at default. I am not impressed with this behavior and it leaves a negative impression with me.
As was also mentioned above, FxPapa's broker was forced to make changes to their account, resulting in the lower lot sizes. Keep on reading!
May 16, 2012 at 16:58
It's true what FxPapa said. I apologize for thinking FxPapa was not telling the truth. The change applies to Canadian residents only. Here is the link from IBFX:
http://corporate.ibfx.com/News/Margin-Requirement-Changes-Canadian-Resident-Customers
http://corporate.ibfx.com/News/Margin-Requirement-Changes-Canadian-Resident-Customers
May 16, 2012 at 17:02
(edited May 16, 2012 at 17:17)
that doesnt deny the fact that FXPapa was lucky on this trade, lol, he unwillingly reduced the effect of this bad trade on his history chart by almost 6 folds, ethically he should mention something about this on his website.
anyways, let's just hope we dont have similar trades in the near future, i am -1k USD so far with FXPapa, since i just started like 2 weeks ago.
anyways, let's just hope we dont have similar trades in the near future, i am -1k USD so far with FXPapa, since i just started like 2 weeks ago.
May 16, 2012 at 18:36
Alec posted:
FxPapa,
Are you still trading this week? Or was this all, the 'gift' you had for us, this week?
Regards
Dear Alec
I'm sorry about this week. We are still trading but our leverage is 1:10. This seem it's because we are in Canada.
Regards
