Falling Knives

I still would have liked knowing your boy made it home for a pass, crappy military. Hope one day we won't need any of those.


I've had mixed testings with the old versions and couldn't determine what would be an adequate minimum equity trading them. I don't want to underfund my account but I don't have much money to fund a +10K$ account.
What minimum would you recommend, Magix? 1K$? 2K$? For a single pair?


Thanks.

This is an excellent question and well, the real truth is, it depends on your approach.

When running any of my grid traders live and especially on the M1 charts, my account minimum is $2k max is $3k, running the same 7 pairs.
EURUSD
GBPUSD
EURJPY
GBPJPY
EURAUD
GBPAUD
AUDUSD.

In using the $3k account starts, and this is the absolute highest I've worked with on any of the Falling Knives versions, this is the maximum value I am comfortable losing.

At this, Iresh2 is running 16 pairs and has done so for 2 months without exploding...in that, it has dropped some $2k off the top and lost $1k in the first week of running, but has seen as much as 100% gains while currently only holding 35% gains. HERE

Really, we don't know what market will hold for any given day and especially now with BREXIT on the table. Ya gotta know that I will be sitting that one out, but there are other weeks when I may just not feel entirely comfortable with my accounts being exposed. NFP, FMC....anything else that has the potential to move the market several hundred pips in a single direction during a single session.

NFP week has proven to be a complete shit show for the FK logic and I don't expect next week to be any different...I will be using NFP week to verify the EA has been coded correctly and to ensure that I haven't missed anything, and after that...business as usual.

Bottom line, being familiar with Market Cycles is as important as the pairs chosen and as important as the size of account that you can afford to RISK.

Will anybody make a million dollars with this EA?
Probably not...

Will some accounts get blown up?
Almost a certainty.

Will it be able to double accounts in a reasonable amount of time with a reasonable amount of risk?
ABSOLUTELY.

The benefits of working with a group are that you can see different ideas for pair selection and account size...the most applicable at current:
Magix
Spankworthy
&
GO5

Use the Custom Analysis feature of MyFxbook to cherry pick pair(s) to run on an account you can afford to risk.
Sit out NFP week and even kill pairs that have major news during the specific day...

The rest is a little bit of faith and a lot of finger crossing!

Make sense?

I've got a couple of accounts in wait, I will use to see how these make out for my newly expected Granddaughter. (September)
Never a bad time to start banking a couple of bucks for the future.

Risky to be sure, but I also have a Mandatory Fee that comes out of my checking account and goes into savings, every time I used my debit card...actually kind of a neat idea, in that you really don't miss a little each time you make a purchase, but definitely adds up along the way.

I started the account and mandatory fee before I knew I had a grandchild on the way, but now that it's there, I at least have a head start and an earmark for it.

Since the start of this year, my forced savings on purchase account has grown to $700. Not a lot, to be sure, but given that this is something that just gets added on each time I used my debit card, has really added up quickly!

After that...a smaller version of a Monster Truck would probably be more suitable as a Minivan to cart the new one around.

I've actually run out of space for more vehicles in the Driveway and Garage...something will probably have to go before I even make my next purchasing decision.

So...

There's a couple ways of getting this all loaded.
1. Plain and Simple.
2. If you want to observe the logic in accordance to the indicators used.

Steps - First step for this for next week will be to OPEN A NEW DEMO ACCOUNT!! DO NOT RUN THIS LIVE!!!!
After this...

Plain n Simple.
1. Attach EA to chart and select OK. (You should get a pop up box and see the word disabled in the bottom left hand corner of your screen)
2. Copy and Paste the Account identifier and post it into this thread.
3. When I reply with your activation key, copy and paste it into Activation Key area on the EA inputs Tab.
4. Make sure live trading is enabled and you should end up with the word Silver in the bottom left hand corner and a Happy face in the top right.

Observe.
1. Copy all files into their specific folders. (re-start terminal)
2. Open a new chart and apply the "IreshL" template.
3. Apply the "Iresh_2.5_Licensed" EA to chart.
4. Copy and Paste the Account identifier and post it into this thread.
5. When I reply with your activation key, copy and paste it into Activation Key area on the EA inputs Tab.
6. Make sure live trading is enabled and you should end up with the word Silver in the bottom left hand corner and a Happy face in the top right.


From here, Save the template of the screen you are looking at.
Open other pairs and apply this template.

This should save you from having to apply the activation key on all pairs you are trading.

New Version added to post 1.



I will be in and out throughout the day...mowing lawn, groceries, catching up on a few things...it may take me some time to reply with activation keys, but as this is really just a test of the licensing and haven't confirmed all logic yet, no real hurry.

Really...we've got a week until anybody should even think of applying this to live funds.

**Note

Current version is set:
Lot Calculation Method = Fixed Lots

Thread version is set:
Lot Calculation Method = Increment lot
Lot increment or multiplier = 0.01.

All others are Default Values, M1 charts.

YeY!

Just testing it on a rogue demo account just to see how it's behaving, I'll put a dedicated account for it later on.



Thanks!

Give this Activation Key a shot.

Let me know if it doesn't come up with Silver, bottom left hand corner.

14586B1D3905F28F1F20388C3974497E



PS. Every activation key is unique and will marry the account...if you have additional accounts, you will need 1 unique key per. (general note)

Holy Fuck!

2 Orange Garbage bags of grass off the front lawn alone!

It's going to be a long summer of cutting!

Do not give up.

I have done the same job lately

Best
D.P.

Thanks Magix, here's mine:

CC4E9C85326932FEFE4895EAB18DD6C5

Key = 7E86255B464F935849663D1D0D78E72F



Let me know if you have any issues.

That was quick. All done and SILVER appears at bottom left. Green pips to all.

Give up?

Hell NO!

But I think I might need to attend a Bootcamp of my own.


Think I may have been indulging a little excessively over the last 2 months...

https://www.myfxbook.com/members/Chi...-iresh/1648253

For those who don't have an FF account or would prefer to keep their anonymity, I have created an activation email address.
Send your unique account ID to -> Activation Email - [email protected]

activate_iresh
@
hotmail.com

Hey Magix, this is what came up:
7EEE45D7E9B9673C7D81E73960E09F04

Key = 83F5A430D1B7B4158F748512109CDC9B

Let me know if you have any issues.

D.P.