successwill posted: i installed this yesterday on a real account and today i have 8 open trades with %31 DD. Risk was set to 0.1. Very bad start..Hope not to blow the account
I would recommend installing equity sentry or similar Equity protection EA to protect the account, unless you just running a cent account like the vendor in which case doesn't matter if account blows... cheers
I started out last week again with this EA, after some experimenting last year I set my risk to 1% instead of 10%, which is much more common and will protect your account to some degree. Equity protectors cannot be installed on vps servers from mql5.
If you already have got this EA for over a year now, surely you must have seen large drawdowns already and it would be no surprise to you to see that it opens a new counter trend trade every 9 pips if getting into troubles. That's why I set the max risk per trade to 1% instead of 10%. Still a lot of money when you have 7k on your account, instead of 100 dollars.
i am planning to hedge to save the account..i will wait and watch for some time.. Ideas needed about EURUSD behaviour.. do you think it will keep going up? USD losing against nearly all currencies in the world
Well, take it easy, do not go into hedging because likely you will increase the damage.
You have two options. Or you keep it running or you close. Frankly if your DD is close to 50 I would keep it. The damage is done anyway.
The point I want to make is that if one decides to play grids it must accept that this will happen. Because it always happens. I am not saying it is a bad strategy ( well it is) but once it is taken I suggest you to keep it to the end. Grids as well as martingales are based on large DD expecting that the price will come back.
I suggest you to be coherent with the system you have chosen but hey, it is your money.
BTW I am on it as well, in my case however I a running it at 20% risk, therefore I got a 10% DD. I do not like it but well I can live with it. My humble recommendation is that when using grids try to adjust the risk to the minimum.
Every time. When there is any DD panic and a damnation in my address... the adviser earned Gain: +1242.03%. It can't work without DD. Put money in bank under 5% a year. But even the bank won't give a guarantee that it to you will earn eternally. I don't hide trade history. It is on the website. Trade for 1 year on the real account. backtesting, the Analysis on history where all transactions are open. How many after that it is necessary to offend me? If you don't want to see DD, then be not engaged in Forex
successwill posted: seems safe but what about profitability? what is your monthly growth with that?
Well I never put all eggs in one basket.I prefer to have different strategies working in one account and have several accounts all running at a small risk. I do not mind if a strategy gives me 2% per month if I have others working on the same equity. At the end you diversify your risk with multiple strategies using a small portion of your equity. And believe me you avoid stupid DDs.
At the end if I get 5% per month on my total capital I believe I am very fortunate.