When we test any EA, we try to run on different brokers and during testing some times some get expired and in some we apply different settings, in some cases applying different Stop Loss and some cases without stop loss or a higher stop loss.
The accounts which are displayed are consistent with the EA which we sell.
In regards to drawdown, you are saying 30% drawdown, I think it was well explained earlier, it is simply related to the setting which you use. Like vis High Risk Account had drawdown of 37% once, it is on our web site, there is no reason to hide, We can display another 5 accounts but whats the benefit ? We do not consider as they wont add any value.
HeroT posted: This is the same vendor of Gold and Silver robot, who had blown up his demo account earlier. Look at FPA. Purchased both bots and found out both use the same logic. Only the currencies dealt are different. You should either stay away from this product or use it with very low risk with SL. Otherwise, it will someday blow up all your account.
We are not the same vendor for sure but we have some association with Gold Silver Team, like wise we also has association with some other vendors, brokers etc. ( we have been in forex trading from the last 8-9 years) as well as we understand people fail in Gold and Silver when they use less leverage
use select broker for Silver who offer 50 cents per pip as opposed to 10 cents per pip.
Again in same manner, we have displayed settings for
High Medium Low risk
We suggest either Low or Medium settings to be used.
In Financial market where banks offer only 3-4 per interest per annum, but here forex traders try to achieve 1000% per annum, of course in order to achieve that % you need to accept risk and most of them fail when they try to achieve hundreds % return per annum.
Low Risk settings ( potential of earnings 100% +) Medium Risk settings ( potential of earnings 200% +) High Risk settings ( potential of earnings 400% +)
In Yen Drive, our Real money account is running at Medium Risk. Certainly High Risk is not in our recommendations, but it is here just you can see for reference.
We have provided enough information on our web site as well as here for rationale decision, we are extremely busy in product developments etc. , we understand there are serious people on this forums but on the other side there are people who do not read full message and waste their own and others time. I suggest if anybody has any doubt for anything or cannot take the risk as defined for each settings should wait.
So we will leave you in your discussion and if anybody has any question that is not clear or not discussed earlier can send us email via contact us page and we would be happy to reply.
And these are the kind of 'answers' you get when contacting support:
I asked support about risk levels and backtests. Here is a copy of our emails:
Q: What is the risk of the Yen drive? There are no SL on the open trades. How does the worst case scenario look like? How should one know at what risk level to trade the EA?
A: Hello, The SL is fixed $$$, which you can decide based on the risk level. You can see the performance from the last 5 months.
Risk level, is low, medium and high risk settings, say very low risk 0.01 lot for every $2k, low/medium is 0.01 lot for every 1k and high/aggresive is 0.01 lot for $500 balance. This depends upon you to decide what level of return and reward you are seeking eg.
See dd is less then 12% and monthly average return is 8% ( approx 100 percent per annum)
Q: My question was what is the worst case scenario? How much % DD will that incur? Have you any backtests on 99% data ? (Dukascopy or similar)
A: Hello, You cannot do backtest as more than 1 pair running together,back test is only possible for 1 pair. Ok on 0.10 lot for 10k account it gained 50% in 5month and highest drawdown was 24%.
Kind regards Support
Q: Yes I can see myself on the myfxbook chart those numbers. Still you don't answer my question. Worst case - how much ?
A: Ok we have been using this system from the last 1 yr alongwith other system. 5 months is the time when we tested seperately so I cannot say what is the worst case scenario. I would say more safer is 0.01 lot for every 2k and I dont think it can go more than 20%.
Hmmm no very convincing responses from the vendor ..
lets translate those sentences...
'we dont know how long it will take until your account is blown up'
hey guys the recommended settings of 0.01 lot per 2k is still too risky from my testing. i advise you guys use 0.01 lot per 4k or even 5k! I have a DD of almost 1k with a balance of 17k using 0.06 lot. which is pretty high for such low risk.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.