Is anyone trading with the Conquest EA? Is it simply a version of MakeGrid?
QuoteDislikedIs anyone trading with the Conquest EA? Is it simply a version of MakeGrid?
DislikedHI Ben,
Conquest is a simple countertrend grid EA. works only on IBFX on eur/gbp, uses .679 price and places buy and sell limit orders, that never get deleted.This EA. is good as long as eur/gbp stays in its ranging condition, if and when eur/gbp gets into a major up or down trend it is very capable of blowing a account.
toolsIgnored
QuoteDislikedThanks. You're saying it uses .6790 as the center -- always? And so simply if the price is above, it's in sell mode; and if below in buy mode?
Where does the .6790 come from -- I mean, why .6790?
DislikedIs anyone trading with the Conquest EA? Is it simply a version of MakeGrid?Ignored
DislikedThe Conquest isnīt really a scam, but rather an incomplete EA. As noticed elsewhere it works OK as long as the EURGBP keeps within itīs range. Right now the price has moved very sharply upwards, and I bet all Conquest accounts have either blown, or if the hedge position is open theyīre simply "resting", paying the swap difference between the long and short positions.
If this goes on for long the account will still blow eventually. The only thing that can save it is the EURGBP dropping down to somewhere 0.7200 or lower. Then the hedge can be closed and "normal" trading can continue. Strange thing is that no updates are emailed from Protraderforex the last weeks as the used to be. I would say itīs the way the EA is sold that should be considered a scam, not the EA itself. If hedged properly, it can very well work in the future. Or if reconfigured to trade another pair......Ignored
DislikedIs the grid center set to 0.7400 all the time nowadays? Or is it floating? Thatīs the interesting part, because sooner or later the EURGBP is almost bound to drop again. I noticed the update to "Conquest 2008" when the grid center was adjusted to 0.7000. Has it been changed again?
Also, I read about the other EA they sell, but I find it somewhat strange they totally seem to have dropped promotion of the Conquest, especially since this was sold as the "only way to trade Forex" and similar. Nevertheless, the interesting part is if the EA still works, despite all the posts Iīve seen about it.
I built a similar grid trading EA myself, but programmed it to open several hedges at some distance between them. This way the EA can hedge in a "softer" way, and modify each hedge-stoploss when the price has moved x pips in its favour. On the way back the hedge(s) can be closed without loss, or even some profit.Ignored