XXX:FATS - Live (Old) Diskusia

I just thought I'd open this up for discussion seeing as I am getting a fair few questions about using Steam and the results on my page.

I have been testing Steam for some time now with various settings and, over a period of three or four months, have come up with what I feel to be reasonably stable settings for it, and have now been running it on a live account since the beginning of July.

By way of explanation, the first three big losses you see (I say 'first three' as there may be more ahead!) were nothing to do with Steam, but rather were caused by mistakes made by me.

The first was caused by me using the wrong settings file when setting up Steam to run on the live account for the first time, and caused Steam to exit a couple of trades when it hit -40 pips.

The second was caused by me using a secondary EA called ALR (Advanced Loss Recovery) and not using the correct settings, so when Steam hit -50 pips (the stoploss I was using then in Steam was actually 60 pips but I had inadvertently used 50 pips in the ALR setttings), ALR kicked in and created a hedge trade, which then ran to just 150 pips instead of the recommended 180. So two things happened here: 1) the trade that Steam entered was ended prematurely (if it had been left to go to -60 pips, ALR would not have in fact been triggered and would have ended with a win!); 2) ALR recovered most but not all of the loss.

The third dip was caused by ALR kicking in, but having used the recommended settings, it meant that I might need to let the trades run for a few days, possibly longer, so I made the choice to end the trades and take the loss and start afresh. Ironically, had the stoploss on Steam been set to 90, ALR would not have triggered, and the trades Steam opened would have closed normaly for a win. Additionally, if I had set ALR to use 90 pips for its recovery target instead of 270, it would have closed the trades for a very small loss.

My Settings:
stoploss=90, takeprofit=6, risk=12.85, retrace_exit=false
Asian session only (00:00-06:00 GMT)
Monday to Thursday only (although Steam V9 is hard-wired not to trade on Fridays anyway)

Pairs:
AUDUSD
EURJPY (long only)
EURUSD
GBPJPY
GBPUSD
USDCAD
USDJPY

Keep an eye out for lots of speeches during the London and New York sessions: if there are lots, then it may be prudent to stop Steam for the following Asian session and let the markets calm down. Major news during the Asian session should be catered for by Steam's own news filter.

too quick to soon disaater waitng to happens

Can you tell me what you set up for each currency, please tell me ok? My email is: [email protected]

pizhenbin posted:
Can you tell me what you set up for each currency, please tell me ok? My email is: [email protected]

The settings I use, and the currency pairs I run Steam on are listed in first post above.

The EAs I'm currently using here are as follows:
ForexSteam - https://forexsteam.com/
ALR (Advanced Loss Recovery) - https://www.forextradersdaily.com/alr-video-1

Note: I have no affiliation with either of these, I am just a user willing to share my experiences.

ALR is not automated; you have to attach it to each trade manually. It also requires a monthly subscription to keep it working. Because of this, I am now investigating and testing another loss recovery EA:
LRT (Loss Recovery Trader) - https://theforxcabin.com

This works in a similar way to ALR, but is automated (i.e. it will attach itself to every trade submitted by another EA), and it also requires only a one-off purchase, which is less than one month's subscription to ALR, so I am hopeful for this one.

Any questions, just ask.

Hi Paul,

How is it that there are numerous EUR/USD trades in your account, whereas i get not more than two. Are you using any other EA other than Forex Steam? Does this LRT Ea good? You said you were testing it. One more thing. How do you rate the Forex Fury EA? Have you ever tried it?

Thanks

Hi Ajay,

I have added another little EA into the mix, which scalps EURUSD. It's called Budak Ubat 1.51.

LRT is good and is running on my live account.

Details of my latest setting can be found in my private forum (it's free to join): https://forexbotting.freeforums.net

Have a look there and I'll be happy to answer any questions you may have.

Cheers,
Paul.

Hi Paul,
I just want to ask you about Forex Fury Ea?
What is your opinion about it?
Can you suggest any good Ea
Thanks
Ajay

Hi Ajay,

I haven't tried Forex Fury myself, but I have been told that it's not really worth bothering with, as the returns aren't that great and it tends to generate a large drawdown.

Forex Steam is my number one EA for now (I have tried many over the last 6 months or so!), and I think I've finally tweaked it to the point where it is stable enough to leave completely unattended.

My latest setup, including the broker I use specifically for it, can be found in my forum at https://forexbotting.freeforums.net - joining is free and I post all of my updates and results there.

Regards,
Paul.