FxPapa Expert Advisor (by FxPapa) Vienkārša statistika
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FxPapa Expert Advisor Diskusija
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Biedrs kopš Nov 26, 2011  136 ieraksti FxPapa (FxPapa) Feb 07 2012 at 08:00

   gwrigh posted:
   Hi FxPapa, is it a grid trading strategy? Does the strategy wait some time after sustaining the 3 losing trades equal to the DD/risk setting or can it potentially keep opening another set of 3 trades and losing again? Thanks.


FxPapa may open up to 3 positions and not more. It will close the positions on the specified DD (Risk Parameter).



Biedrs kopš Jul 24, 2011  91 ieraksti Alec Feb 07 2012 at 12:53
Aaaand I jumped on the Bandwagon.


Biedrs kopš Jun 15, 2011  67 ieraksti Dale C (dalecam) Feb 07 2012 at 16:18
Hi guys,
FXPapa hasnt beent telling the truth.
As of right now (18:14 on 7 Feb 2012) his current Open Loss is $101. That is an open loss of 20% of his account.
He has been stating that Maximum closed trade loss will be 15% on this account even with 3 open orders.

Well he has 2 open positions as of now, and its already over 20% loss if closed now.

FX PAPA - PLEASE TELL THE TRUTH. What is the REAL risk on this account?!?. And yes I expect an answer please.

(I was so close to buying it too...)


Biedrs kopš Jun 15, 2011  67 ieraksti Dale C (dalecam) Feb 07 2012 at 16:22
At 18:20 - $113.00 open loss (22.5% of curent balance of $510)


Biedrs kopš Nov 06, 2009  44 ieraksti reinerh Feb 07 2012 at 16:24

   FxPapa posted:
ok, let me get this straight :)

you are not selling an ea, you are selling the signals. meaning the customer runs the ea receiving the signals.

so you send the signals which are generated by your ea or manually or whatever.
so then on this particluar tracking account the sl would be 15% from the high or $75 since eq is $500, is that correct ??


This is an expert advisor. Most of the entering rules would be done on our server side EA. This makes us sure all clients would have the same trade. The money management part include SL or TP points would be done on client side EA.

Our server side EA is automatic however we have a analyzer group which detect the high impact fundamental events to avoid trading on those sessions.

I've explained the SL rule in the last post.


you said the sl you run here is 15%, currently its at 20% and your sl has not kicked in, why ??? i sure dont understand that..............


Biedrs kopš Jul 30, 2011  72 ieraksti gwrigh Feb 07 2012 at 16:33
It definitely looks like a grid trading system. Search myfxbook for GridMeUp if you want to see a very similar balance and equity graph. Definitely a problem if it is not exiting trades at the DD/risk limit (15% as stated by vendor). My guess is that they saw the trades approaching the 15% and kicked it up to 30% or something like that, so as not to take the loss. It's a gamble, but maybe they are betting on GBP weakening in light of Greece situation. He said that FxPapa is an automated strategy that is tempered by fundamental analysis and human intervention. Please respond FxPapa and explain the situation because otherwise it just appears to us that the DD/risk limit was violated.


Biedrs kopš Nov 20, 2010  87 ieraksti RGM (rgmann) Feb 07 2012 at 17:27
The default risk setting is 10, which actually equals about 20% of the account. So perhaps they decided to change it to the default setting? Anyway, you can set it at whatever level you'd like (I have it at 5 right now).

I'm also using a third party trade manager EA (you can download it at https://www.donnaforex.com/forum/index.php?topic=3222.msg75356#msg75356) in order to place a fixed -150 SL, just in case I ever get disconnected from the FxPapa server. I would advise anyone else using it to do the same. You'll have to use the following three magic numbers for the trade manager EA on three separate charts for each currency pair.

6340821 (EU H1 chart, GU H1 chart)

6340822 (EU H1 chart, GU H1 chart)

6340823 (EU H1 chart, GU H1 chart)

You only place the FxPapa EA on one EU H1 chart. You then open three additional EU H1 charts and three additional GU H1 charts for each magic number. That's the only way the trade manager EA will be able to set a SL for each trade. Note: You place the trade manager EA on each additional chart, and apply one of the magic numbers to each one.

I sure hope this GU sell trade turns around! It would be just my luck, right after I start using FxPapa it hits a big loss! eek


Success is not final, failure is not fatal: it is the courage to continue that counts.

Biedrs kopš Jun 15, 2011  67 ieraksti Dale C (dalecam) Feb 07 2012 at 17:40

   FxPapa posted:


The EA may open up to 3 positions at the same time. FxPapa EA uses equity stop loss. Default value is 10 which means the EA would close the trades if the total loss of 3 positions be more than 10% of the account balance.


Hi RgMan,
Thanks for the Tips!
We are just wondering why the SL went PAST 20% today after FXPAPA stated the above, which is clearly False.
He stated earlier that they are using 15% risk. Perhaps it is 15% PER TRADE, and therefore a DD of 45% if all 3 hit. But clearly FXPAPA is misleading.
Ill still hear him out though, if he decides to answer us...


Biedrs kopš Jul 30, 2011  72 ieraksti gwrigh Feb 07 2012 at 17:42
Hi Roger, nice to see you here. So what are your thoughts on FxPapa? Do you think it is grid? Grids always seem to crash. Look at Tom's EA and particularly GridMeUp for a longrunning (over a year) example that just hit its huge (potentially account crushing) drawdown.

It would be so easy for the vendor to just add a fixed SL option/feature. I wish they would.


Biedrs kopš Nov 20, 2010  87 ieraksti RGM (rgmann) Feb 07 2012 at 18:15
Well, I've been pretty happy with it so far. But this current trade has me nervous! I'm not exactly sure what the definition of a 'grid' EA is, but FxPapa can open up to three trades at one time. However it appears to only open one trade most of the time. If the 'equity' loss feature actually works as advertised, then I don't see it being too big of a problem. Remember, you can set the amount of equity at risk at whatever level you want (0.5 = 1%, 1 = 2%, etc.). And using it with a third party trade manager EA makes it fairly safe, I suppose. I'll probably end up regretting using a risk setting of 5 though... wink

Success is not final, failure is not fatal: it is the courage to continue that counts.
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