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FxPapa Expert Advisor in Tirdzniecības sistēmas Jul 05, 2012 at 19:53

Just allow client to set which pairs and risk for each pair... It does only trade one pair at a time in a potential set of 3 trades, correct?

FxPapa Expert Advisor in Tirdzniecības sistēmas Jul 05, 2012 at 16:19

Comments seem worth considering about removing GBPUSD from the strategy. All 3 of the major drawdowns, Feb 7, May 16, and today, have been GBPUSD. It luckily recovered on Feb 7, and due to Canadian leverage glitch didn't take much of a hit on May 16, but today was a full size -194 pip loss. And yet FxPapa is still +315 pips on GBPUSD overall. It is just a concern that these SL's wipe out 4-6 weeks worth of profits.

EA Roland Scalper in Tirdzniecības sistēmas Jun 22, 2012 at 19:16

Hi Dave, do you use this EA live and is it private? Thanks.

TradeCopy-EURUSD Master in Tirdzniecības sistēmas Jun 13, 2012 at 20:24

7 losing trades on 6/12 for -266 pips or about -$540 on my $10K live account which is trading the same lot size as the master account. This puts the Buy/Long side of the strategy definitely in the unprofitable category so far. Wondering if there is anything you might consider to minimize losses.

FxPapa Expert Advisor in Tirdzniecības sistēmas Jun 05, 2012 at 20:00

Yeah, I thought that looked wrong. I guess the myfxbook Drawdown tab does not work the way I would like it to (which would be to show the maximum floating drawdown each day for all open trades - and per trade would be awesome - like segmented bars). As it stands, I'm not sure what they're showing. I think their equity graphs must be wrong as well.

FxPapa Expert Advisor in Tirdzniecības sistēmas Jun 05, 2012 at 03:26

Hi FxPapa,I think your results are impressive and I am considering joining. I have one question for you first: have you analyzed your floating drawdown for your 1-3 trade baskets? Before your -218 pips loss on May 16, your worst previous drawdown was -124 pips on Feb 7, which came back to profit. But the worst floating DD besides that has been -35 pips on Jan 9. Correct me if I'm wrong - I'm just going off myfxbook data here. Have you considered reducing the -220 collective SL to say -40 pips? If I'm correct, a -40 pip SL would have you at +140 pips compared to now. I think you ope...

GridMeUpFX 2013 in Tirdzniecības sistēmas May 23, 2012 at 18:22

It worked as designed - closed the basked at 30% DD - it just hit the unlucky grid basket this time. It is inevitable with this strategy (grid/martingale) - you have to be willing, and capable, to float the insane drawdown - like -2500 pips in this case. The only way not to blow up is to trade very small compared to your account size. Eventually it usually comes back up. Now I wonder if this would work if the money management was changed. He made over 700 pips for end of Feb + Mar, and 400 pips in April; He was at around 200 pips for May before this basket went bad. Before this 30% blowout, th...

FxPapa Expert Advisor in Tirdzniecības sistēmas May 16, 2012 at 02:45

I've monitored feeds and spreads for several different brokers and noticed a real difference in the number of ticks as well as the stability of the spreads. What broker is fxpapa using?

FxPapa Expert Advisor in Tirdzniecības sistēmas May 15, 2012 at 21:36

According to myfxbook Drawdown on Feb. 12 fxpapa hit -124 pips, while the current DD is at -143 (as I write). This is not to be feared if you've planned your risk setting to be XX% of your account at a maximum drawdown of up to -200 pips the way the EA manages up to 3 trades.

FxPapa Expert Advisor in Tirdzniecības sistēmas Apr 03, 2012 at 18:43

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.

Rich Owl in Tirdzniecības sistēmas Apr 02, 2012 at 17:43

I would be interested if you would explain how Rich Owl will avoid complete disaster. Is there a drawdown limit in the money management settings? -4500 pips is huge - what's to prevent -10000 pips and blown account? Thanks.

Rich Owl in Tirdzniecības sistēmas Apr 02, 2012 at 17:41

I am not an EA seller. I'm just a regular trader in Arizona, USA. How did you come up with that? I hope you are not FourX.me. Someone else on this discussion said that. Please prove you aren't.

Rich Owl in Tirdzniecības sistēmas Apr 02, 2012 at 17:09

Be very careful of trade size vs account size with grid+martingale. For example, on Feb. 23 it was floating -4500 pips. That's roughly -$4500 at 0.1 pips on a U.S. account with 50:1 leverage. As I write this, it has 24 open trades totaling 0.72 lots floating -540 pips. That would be nearly -$3900 with U.S. leverage. I bought FourX.Me and the vendor was very unsupportive. That EA looked to perform a lot like this one and eventually blew their test account. Buyer beware.

Morpheus Topbot in Tirdzniecības sistēmas Mar 30, 2012 at 16:28

Is your broker for real? Mellyforex and I both show Oddbot and Topbot taking a huge loss on that last trade and yet you are still in it? I've also seen 2-3 win trades that you got this week that mine didn't even trade and I have an institutional feed.

MLPS(MFATA) THINKFOREX in Tirdzniecības sistēmas Mar 16, 2012 at 02:58

MFATA or MFA TA EA is an arbitrage EA, based on the westernpips EA, that apparently only works on brokers with a lagging feed to SANKO Bank. If you have a good broker with a very fast feed, it is not likely to work. That is one reason why it works so much better on demo feeds (which typically lag). ThinkForex and HotForex have lagging feeds. I don't think this would work on my broker. Check out these threads for more information before you spend $800:http://www.worldwide-invest.org/threads/9162-Mfata?highlight=mfatahttp://westernpips.com/index/newest_eng/0-28http://minus.com/m8VSC1oHt

FxPapa Expert Advisor in Tirdzniecības sistēmas Mar 07, 2012 at 18:15

Hi, the only trading strategies I've seen with equity curves like FxPapa are grid-trading systems. They win most of the time (85-95%) but have occasional huge floating drawdowns (like the one on Feb 6-8), and without protection eventually hit their unlucky streak which crashes the account. You obviously aren't martingale (double-down on losing positions), which is good. Without giving away proprietary specifics, can you give us some assurance that the system will truly stand the test of time? GridMeUp had a great run for about a year, with a very similar equity curve (it floated about ...

GridMeUpFX 2013 in Tirdzniecības sistēmas Feb 21, 2012 at 01:08

I noticed that you reset the test - did the previous account crash? Are you running the new 3.4 version here? Do you still believe in the strategy? What changes have you made that you think will protect it now? What settings do you recommend for a 1:50 leverage account per $10K? Thanks.

FxPapa Expert Advisor in Tirdzniecības sistēmas Feb 15, 2012 at 20:44

My examples above with $10K balance are for standard lots ($100K). I believe FxPapa's $200 account (starting balance) is a micro account (so $10K lots), so multiply my lot sizes by 10 to convert to micro-lots. I guess the EA adjusts this automatically?FxPapa's server EA is currently opening trades with sizes of around 0.4 lots with a balance of around $500, apparently using version 2.1 since the trade sizes dropped roughly by half from Feb. 8 to Feb. 13.For $500 account:Risk_Percent = 15 (which is what vendor is running, I think)Lot size per trade = 0.038 (=0.38 micro-lots, max x3 open...

FxPapa Expert Advisor in Tirdzniecības sistēmas Feb 15, 2012 at 17:18

So, just to clarify, in the new/current version 2.1, the Risk_Percent setting is now fixed and is equivalent to the maximum % open drawdown (instead of 2x in the previous version), correct? So the EA/Signal-Client will open a maximum of 3 trades; if the combined total drawdown of all the open trades reaches Risk_Percent of the account balance, it will close all open trades? For examples, for an account balance of $10,000:Risk_Percent = 5Lot size per trade = 0.25 (potentially x3 trades, so 0.75 potential max lots open at a time)Max DD = $500 (=5% of account balance; if total DD of all open trad...

FxPapa Expert Advisor in Tirdzniecības sistēmas Feb 13, 2012 at 20:05

I would like to understand this as well. How did this account float the recent DD from 151.5% down to 107.5% without closing any trades? Please explain in terms of settings and whether you intervened. Thanks. Results still look very good, but we need to understand them in terms of the EA's settings to set expectations. Right now things aren't matching up. I, for one, would want to know that if I set the risk to 10, that means that it will close all trades if the floating DD reaches 10% of my account balance. It doesn't make sense to me for risk of 10 (i.e. 10%) to actually mean 20%...

All Quotes
AUDUSD	0.6414	USDCHF	0.9102
EURJPY	164.77	EURCHF	0.9701
EURGBP	0.8605	GBPJPY	191.31
EURUSD	1.065	GBPUSD	1.2368
USDJPY	154.619	USDCAD	1.3798

EURUSD	1.065	GBPUSD	1.2368
USDJPY	154.619	USDCAD	1.3798

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