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FxPapa Expert Advisor (Od FxPapa)
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Apr 25, 2012 at 11:37
Hi FxPapa,
My last trade on Gbpusd closed at 1.61130 instead of 1.60994 on your account. You said that the closing price may vary because of the different data of the brokers. Could you detail what could make such a difference. My broker is FXCC.
My last trade on Gbpusd closed at 1.61130 instead of 1.60994 on your account. You said that the closing price may vary because of the different data of the brokers. Could you detail what could make such a difference. My broker is FXCC.
Uczestnik z Nov 26, 2011
136 postów
Apr 25, 2012 at 11:47
jcarre posted:
Hi FxPapa,
My last trade on Gbpusd closed at 1.61130 instead of 1.60994 on your account. You said that the closing price may vary because of the different data of the brokers. Could you detail what could make such a difference. My broker is FXCC.
Hi
The reason is the big and sudden move of GBPUSD. I checked some of our clients accounts. The profits are different but the good point is that all had profit.
Regards
Uczestnik z Nov 26, 2011
136 postów
Apr 27, 2012 at 19:13
CBuilder posted:
you mentioned before that the EA open maximum 3 positions at the same time, do you mean 3 positions per currency pair?
Hi
No, the max open orders are always 3.
Regards
Apr 28, 2012 at 09:28
Cbuilder,
FxPapa uses a grid system in 2 currencies. It opens 1 position, GBPUSD or EURUSD. If it moves about 60 pips against the trend, it opens a 2nd position, same currency always. If it continues to move against the trend, it will open a 3rd position. If it continues to move against the trend, it will close all positions in loss, losing the risk you set in your account. If you set 15, you will lose 15% of your account. The good news is that FxPapa rarely opens 3 positions, it wins in 1 or 2. If you check this real account, you will see FxPapa opened 3 positions only once in about 6 months and was able to recover, closing the whole set (3 positions) in profit. When there are more than 1 position open, same currency always, it will close as soon as their sum is in profit or is close to zero. As far as i know it will not trade on Fridays. It may happen (it happened to me once) that FxPapa closes in small profit (typically 2 positions) and I have a small loss. I have been using the EA since December and this is a very good product in my view, you call me a happy client. The gains are close to the ones FxPapa has if you don't intervene.
Regards
Fabio
FxPapa uses a grid system in 2 currencies. It opens 1 position, GBPUSD or EURUSD. If it moves about 60 pips against the trend, it opens a 2nd position, same currency always. If it continues to move against the trend, it will open a 3rd position. If it continues to move against the trend, it will close all positions in loss, losing the risk you set in your account. If you set 15, you will lose 15% of your account. The good news is that FxPapa rarely opens 3 positions, it wins in 1 or 2. If you check this real account, you will see FxPapa opened 3 positions only once in about 6 months and was able to recover, closing the whole set (3 positions) in profit. When there are more than 1 position open, same currency always, it will close as soon as their sum is in profit or is close to zero. As far as i know it will not trade on Fridays. It may happen (it happened to me once) that FxPapa closes in small profit (typically 2 positions) and I have a small loss. I have been using the EA since December and this is a very good product in my view, you call me a happy client. The gains are close to the ones FxPapa has if you don't intervene.
Regards
Fabio
Uczestnik z Nov 26, 2011
136 postów
Apr 29, 2012 at 22:06
Alec posted:
Hello FxPapa,
I was making some calculations, the other day, and got the strong impression the SL/Max. Drawdown is 200 pips. Is this correct?
Regards
Dear Alec
The distance between the orders is not always the same but it's about 60 pips most of the time so you are correct.
Regards
Apr 30, 2012 at 00:36
Hello I am really new here and installed FXPapa last Thursday.
I have the EA installed on two separate broker's MT4's and on one here and there I see "Error 721"
Anybody have a clue what this code means?
I really like the way FXPapa works its trades and looking forward to it.
I have the EA installed on two separate broker's MT4's and on one here and there I see "Error 721"
Anybody have a clue what this code means?
I really like the way FXPapa works its trades and looking forward to it.
Apr 30, 2012 at 10:34
Hello FxPapa,
The duration of my last trade on EU was only 23 m instead of 58 m on your account.
I though trade closures were triggered by the server and therefore trades were supposed to close at the same time for all the clients accounts. What could explain the above difference in closure time?
The duration of my last trade on EU was only 23 m instead of 58 m on your account.
I though trade closures were triggered by the server and therefore trades were supposed to close at the same time for all the clients accounts. What could explain the above difference in closure time?
Uczestnik z Nov 26, 2011
136 postów
Apr 30, 2012 at 13:31
jcarre posted:
Hello FxPapa,
The duration of my last trade on EU was only 23 m instead of 58 m on your account.
I though trade closures were triggered by the server and therefore trades were supposed to close at the same time for all the clients accounts. What could explain the above difference in closure time?
Hi
FxPapa closes the trades in 2 situations. First is when the trades touch the TP level and the second is when it receives the close order from our server.
Your trade has torched the TP level (about 8 pips) before our server sends the close order. This happens because of difference between your broker's and our broker's tick data.
Regards
Apr 30, 2012 at 13:36
FxPapa posted:
jcarre posted:
Hello FxPapa,
The duration of my last trade on EU was only 23 m instead of 58 m on your account.
I though trade closures were triggered by the server and therefore trades were supposed to close at the same time for all the clients accounts. What could explain the above difference in closure time?
Hi
FxPapa closes the trades in 2 situations. First is when the trades touch the TP level and the second is when it receives the close order from our server.
Your trade has torched the TP level (about 8 pips) before our server sends the close order. This happens because of difference between your broker's and our broker's tick data.
Regards
so this means now that the EA no longer self closes the positions based on the 10% equity loss? i.e. your server will be calculating the 10% equity loss and when it is matched, it will send close signals to the clients.
that was my suggestion in an earlier post to be able to achieve closer results to your account, did you update the EA to work in that way?
thanks for the great EA
Uczestnik z Nov 26, 2011
136 postów
Apr 30, 2012 at 13:46
CBuilder posted:
FxPapa posted:
jcarre posted:
Hello FxPapa,
The duration of my last trade on EU was only 23 m instead of 58 m on your account.
I though trade closures were triggered by the server and therefore trades were supposed to close at the same time for all the clients accounts. What could explain the above difference in closure time?
Hi
FxPapa closes the trades in 2 situations. First is when the trades touch the TP level and the second is when it receives the close order from our server.
Your trade has torched the TP level (about 8 pips) before our server sends the close order. This happens because of difference between your broker's and our broker's tick data.
Regards
so this means now that the EA no longer self closes the positions based on the 10% equity loss? i.e. your server will be calculating the 10% equity loss and when it is matched, it will send close signals to the clients.
that was my suggestion in an earlier post to be able to achieve closer results to your account, did you update the EA to work in that way?
thanks for the great EA
Hi
FxPapa closes the trades automatically when they reach to SL level(10% by default). It doesn't need our server order.
FxPapa may close the orders before they touch the TP or SL level if it gets the close order from our server.
Regards
