checkmate EA

Check this live account (view only):

InterbankFX Live Account
ID: 13823
Pass: rtw73

Its doing an EA (checkmate EA) that constantly placing a BUY and SELL for every 10 pips of movement set around a pivot price ?

Has anyone tried doing similar thing? and if so, how successfull were you with it?

I hate to ask a dumb question ... but where can you log in with those details. Can you please post the link?

I thought it was self explanatory when I stated: InterbankFX Live Account

First go to www.interbankfx.com, download their platform, then use the above credential to login.

Here Is How

Get the MT4 platform at: http://209.210.238.53/welcome.htm?group=wtafx

You will need MT4 i.e. you can not login with MT3.

The id and investor read only password to Mike's account is:
ID: 13823 Investor read only password: rtw73

When you login to the MT4 (which you get at Interbankfx.com) You need to choose
(InterbankFX - Live Account-InterbankFX, LLC) in the login window.
I.e. this is not a demo account.

Cheers Peter

I'd like to know if anyone else in here have tried, seen or know what checkmate EA actually is?

Interbankfx Live Account
ID: 13823
Pass: rtw73
This is a view-only live account!

It is constantly placing buy and sell orders for every 10 pips of movememt around a set (pivot?) price.

I currently have an hourly (alexander) pivot system that works similarly though not as aggressive as the above system. I made several live wins and some pending (losing pips but earning swaps).

Can anyone shed light on the above strategy, ie,
* logic behind the opposing buy/sell,
* success of said system,
* is it hedge strategy?

Thanks!

It looks like you've blown 30% of your account. what's up with that Burger?

The above ibfx account is not mine; its from someone who is demonstrating his EA; but overall it made money. I have to admit that on the above account, he should have closed those short positions that are filing up swap charges against him that he could never be able to win back.

On my pivot trade however, I only hold on to "buy usdjpy" positions. sure, im loosing pips on my long usdjpy, but im winning swaps and overtime, usdjpy WILL eventually go back to my target price and win swaps as well.

Whats up?
Aside from news, I am trying to diversify! LOL!

Im investigating hedge, swaps and pivot systems.

Ignore this post, I done gone fix'uhd my problem.

Now that I have logged in and taken a look, I must say that's some pretty decent results given it's on a single currency pair too. I imagine this would do well on the swissy and the euro as well. Cable may swing around just a bit too much to be manageable, but I could be wrong.

Is he trading with an EA? if so, i would highly be interested in this EA. I would like to collect some profits like this!

I have already talked at length to BK on this one...

I am a WTA member, and have intensively investigated this Checkmate strategy... this is what I have found in summary, and IS PURELY IMHO....

1. There is no clear documentation of the whole system. Members for months have been crying for a concise explanation of what this is, to no avail, on the memeber forums.

2. The concept is to continually buy & sell, hedging with FX options, taken at 11 months out.

3. The options are supposed to cover your drawdowns.

4. Options are European style (can only exercise on expiry) so they offer limited coverage prior...

5. Once the market exceeds the range of option coverage (~170pips), you have to stop trading, and weather losses until you regain your range.

6. You are assured of losing more than you make if you exceed your option coverage.

7. You WILL exceed your option coverage within the 11 months frame.

8. You will make money short term, but lose long term.

If you want, pay your $$ (going up to $300 for membership soon) and check it out yourself. But REAL information is very hard to get from WTA. Talk to your option broker. REALLY check into the hedging strategy.

IMHO, (did I say that before), this is a short term flash, that will bite you down the road big time.... but that is just me...

Mrkam, I have a question regarding WTA and what it entials. I have been recieving his newsletter via email for several months and was just curious what it was about. Since you say you are a member, I was wondering if you could share the supposedly "secret" method of trading non farm. Is it anything more than a news straddle? I see the "results" he posts in his emails and they just seem like people using insane leverage for one big move to doubel their account.

thanks

They simply straddle news. Their $300 EA has the following settings: straddle distance, profit target, and trailing stop. That's it. It's worse because sometime the trailing stop does not trail, leaving you more exposed than you thing. This was confirmed by a trading software programmer friend of mine.

Their marketing is suspect as well. You hear about these "big" wins on specific news events. Made $5,500 in 20 seconds kind of thing. When I was with them, and on their news trading calls, all of us that traded the straddle got shredded. (I don't do that anymore...) But somehow, John made thousands with his EA??? I have seen that time and time again. Claims of big wins on events that I have watched the price action, and anybody straddling would have gotten toasted.

Anyway, this is all one man's opinion, so please do not take me as any sort of authority. With any program or system or service, there will be those that are disenchanted.. but by the people on the news trading calls, and the posts on the member forums, there are a LOT of us!!!