It is a Martingale money management system. You have to use very strict control over the lot size. No more than one micro (0.01) per 5K. To be extra safe, even more than that (one micro per 6-10K). When I did some sample backtests, I also got blow ups anytime I exceeded 5K per micro. Indeed, depending on which month you started the backtest, sometimes the account would blow at 5K per micro.
This is why a lot of people stay away from Martingale based systems. I still think this strategy has merit because it uses Martingale in combination with hedging but I am no where near where I would put it on a live account.
You need to update the data from the 'History Center' so you have all of the data on file. Goto the menu item Tools->History Center or just press F2. On the left side of the history center double-click on GBPUSD and then single-click on H1 and click on the 'Download' button. It may take a while to download all of the missing data. The other thing you need to do is to check 'Use date' in the strategy tester and select what start date and what end date you want. With Forex Hacked running on the H1 chart, you should easily be able to run a 10+ year backtest. That is what I did.
So for the last couple of months, I've been using recommended settings by FH developer: Pipstart: 31, TP 45, Booster 1.68, Max Sell/Buy 9. I've been trading only G/U. This last 2 days of decline (Nov.14-16) have taken me in on all 9 buy trades. Last night, I deposited more funds into my acct (Pepperstone Razor 400:1) as I knew the $3k I had in there would not be enough to handle another 100 pip drawdown. Sure enough it's dropped more today and had I not added another $2k, I would have lost. Now, I sit with 9 buy trades and a huge DD. I can only hope for a nice retrace back up to get me out. Otherwise, I will need to add more funds or take a hedged position.
The point I make is for those who read this, $3k is not enough for trading FH. I got lucky starting with $2k and made it to $3k. But now here I sit with a huge DD and my TP is about 150 pips away. For G/U, it's not a prob for it to move that much, but, market sentiment sure is bearish.
The other point I want to make is I see the settings you're using: Pipstart 21, TP 35, Booster 1.7, Max 9 I see your demo accts have survived this fall with G/U these past 2 days. With a 35 TP as opposed to a 45 TP, it looks like the retraces are easier to get. I think I will make the change as well once I finagle my way out of this situation I'm in now.
I will also make the change to FXPrimus to get 500:1 leverage and go through Cashback Forex to sign up to get the commission rebates.
to Ryan aka. acsinc: Maybe you have overtraded your account. With 0.01 lot i barely can imagine that you have to reach MC with 9 trades when you got 3k on ur acc. anyway CashBackForex is available 2 Pepperstone too...
Hi Hubertus88... No overtrading here. Using .01 lot only. No other trades using up margin. Just FH only. I do have 400:1 instead of 500:1, so that does make some difference, but I can assure that $3k is not enough unless trading on micro acct.
I do get rebates thru Cashback with Pepperstone. That's why Plimus is next in line for me to use b/c of the rebates and they offer 500:1