Forex Robots (live EA results)

[electronicmaster]

bad news had often meant USD strength in recent times.

no guarantee the USD will be sold off after the news.

goood

 

[white_goodman]

bad news had often meant USD strength in recent times.

no guarantee the USD will be sold off after the news.

yes especially considering how close alot of currency pairs are to major support and resistance...

im thinking USD will be sold off tonight, and positioned accordingly

 

[Stormin_Norman]

yes especially considering how close alot of currency pairs are to major support and resistance...

im thinking USD will be sold off tonight, and positioned accordingly

i guess time shall tell!

should be fun.

 

[electronicmaster]

I'm still in. Wow, you should see the down draw. The USD had droped a bit. Could this be it? The beginning of the end for the USD?

 

[Stormin_Norman]

im surprised it didnt kill u after looking at earlier graphs/figures.

helicopter ben talks this morning, that might bring the USD back.

the end of the USD will be if/when the bond bubble burts.

 

[electronicmaster]

im surprised it didnt kill u after looking at earlier graphs/figures.

helicopter ben talks this morning, that might bring the USD back.

the end of the USD will be if/when the bond bubble burts.

Yea I'm still in. looks like I might live tonight. I turned off Fap so I could ride the spike that we had, so far.

Its not over yet. And I wish I had more margin to trade with, its dropping nicely (for now).

 

[Stormin_Norman]

yeah, over leveraging is deadly.

im not comfortable running mine on $5k. im looking forward when i get the overseas funds and can run it on $50k.

 

[doctorj]

when i get the overseas funds and can run it on $50k.

Any idea what the upper limit of your account could be while still offering reasonable returns?

 

[Stormin_Norman]

Any idea what the upper limit of your account could be while still offering reasonable returns?

i guess it depends what you call reasonable returns. a 50k account would return about 150% p.a.

so a 300k account would be 20% or there abouts, and almost impossible to blow up i should think.

 

[electronicmaster]

My trades are still in draw down but slowly recovering. Fap can make a lot trades in around the same price range (if the FX market stagnates for a while).

I had been running out of free margin when the price spike hit last night.
I did turn off Fap so it won't trade so I can ride that high spike. It would of been ok if I had more capital to play with.

That's what happens when you set up Fap to to over trade like it did for me yesterday. My fault

But I still could be in the game. I only need -60 pips to start making money again.

 

[Stormin_Norman]

you survived, but i think that equity graph shows why so many FAP users get their accounts wiped out.

i cant be holier then thou about drawdowns (look at my system!). my rule of thumb is expected drawdown shouldnt be much more then 1 week's profit.

what's its average profit in a week?

 

[electronicmaster]

you survived, but i think that equity graph shows why so many FAP users get their accounts wiped out.

i cant be holier then thou about drawdowns (look at my system!). my rule of thumb is expected drawdown shouldnt be much more then 1 week's profit.

what's its average profit in a week?

148.38 + 168.10 / 2 weeks = $158.24

 

[Stormin_Norman]

so that drawdown is about twice the weekly profit?

 

[electronicmaster]

so that drawdown is about twice the weekly profit?

yes.

And I found the setting that might help prevent continuous open trade positions from happening, near the same price range.

Edit:- The weekly average sounds like a good stop loss. You think?

 

[pilbara]

the scalpers won't work very well with a spread of 10 or higher (it is too risky).

for scalping EA I'd say look for a spread of less than 2.5, otherwise the bucketshop has too much of an edge. For brokers with a variable spread, the current spread can be used as one of your weighting factors when the EA decides what lot size to use for a particular trade. You need to have smaller positions when market conditions (or the market maker) has the odds stacked against you.

 

[Trembling Hand]

electronicmaster it seems your system, IMHO, is the same as playing Russian roulette with a bigger and bigger gun. that is you starting with a water pistol then going to a potato gun, on to a 22 pistol then a 9mm sooner or later you will be playing with a single shot cannon and its inevitable you will blow your head off.

Has anyone seen a system that works this way and survive?

 

[Stormin_Norman]

electronicmaster it seems your system, IMHO, is the same as playing Russian roulette with a bigger and bigger gun. that is you starting with a water pistol then going to a potato gun, on to a 22 pistol then a 9mm sooner or later you will be playing with a single shot cannon and its inevitable you will blow your head off.

Has anyone seen a system that works this way and survive?

bunjip uses a similar methodology. it works.

but if it survives or not is another thing... time will tell.

 

[Trembling Hand]

bunjip uses a similar methodology. it works.

but if it survives or not is another thing... time will tell.

What I am talking about is no way of stopping your losing trades. Allowing them to get many many multiples of your profit targets. Is that how your system works as well?

I don't even want to talk about leveraging up every $ you make

 

[Stormin_Norman]

What I am talking about is no way of stopping your losing trades. Allowing them to get many many multiples of your profit targets. Is that how your system works as well?

yes, that would be a fair description of how it works in one sense.

the program gets it right 70-75% of the time. if it gets it wrong, it tries again, accounting for the first loss. and again and again until it either gets it correct, or runs out of money.

it has been tested on 4 years of back data, and live for almost a year. for the last 6 months its cleared 300 and 400 pip movements without the retrace required to clear it out.

 

[wabbit]

I haven't delved too deeply into how FAPTurbo works, but "martingale-esque" strategies run a fine balance between risk and return. Survivability of these systems is not dependent on anything other than how much equity is in the trading account. Each time a trade is in a losing position, more and more equity is risked to win back the amount lost. Needless to say, the risk rapidly increases to cover existing losses until such a time when the account busts.

There is a system, by way of example, is a martingale-esque strategy which makes about $100 per day on a single currency pair by trading 0.01 standard lots. If you only put in $500 to the account, this is a pretty good return, but with such small available equity the chances of the account blowing up are quite high. If you put in $100,000 into the account, you will still only make $100 per day so the percentage return is very small, but more importantly, the risk of blowing up is considerably less BUT NOT ZERO. Would you risk $500 to make $100? Maybe. Would you risk $100,000 to make $100? I wouldn't!

I believe the key to EAs such as FAP AutoPilot, FAP Turbo and many, many others (whether they use martingale or not) is to regularly withdraw from the trading account, thereby reducing the amount at risk whilst trying to find the fine balance between survivability and profitability. Sure, total profits will be reduced over time, but then again when the reaper calls and the entire account (initial deposit and all of the profits made so far) are at risk... "a bird in the hand is better than two in bush."


$0.02


wabbit