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Simplicity is the Key

  • #3,001
  • May 4, 2008 10:50pm May 4, 2008 10:50pm
Quoting zomg
Wow, if it was with IBFX, then like i said in my last post, they might have turned things around and might be a decent broker now. I might consider them again. Btw, those results were with EAs and your manual trading as well? Very imressive.
Just the Traders DelightEA. Manually i was not making good with FX Sol.
  • #3,002
  • May 4, 2008 11:03pm May 4, 2008 11:03pm
Quoting trader101
Just the Traders DelightEA. Manually i was not making good with FX Sol.
Hi all,
I wondering for better use these five EAs now.
For trading mini live account less than 1000$,to use Ultimate 3m or Trader delight 3m? which is better,how many pairs should be added,which TF pls?Can I trade mini accounts with Tbest 3 and other EAs without m??
I am testing these EAs with my mini live account,but rather difficult for simultaneously trading five EAs.
So your guidance is helpful indeed now.
Tks
worldreview
  • #3,003
  • May 4, 2008 11:09pm May 4, 2008 11:09pm
Quoting worldreview
Hi all,
I wondering for better use these five EAs now.
For trading mini live account less than 1000$,to use Ultimate 3m or Trader delight 3m? which is better,how many pairs should be added,which TF pls?Can I trade mini accounts with Tbest 3 and other EAs without m??
I am testing these EAs with my mini live account,but rather difficult for simultaneously trading five EAs.
So your guidance is helpful indeed now.
Tks
worldreview
Just use one..I suggest the Traders Delight, my favorite. Less drawdown very selective in trades. This EA will not run on live(real) account it is only good in demo, so you can trade with a lot of capital, no problem.
  • #3,004
  • May 4, 2008 11:18pm May 4, 2008 11:18pm
Quoting trader101
Just use one..I suggest the Traders Delight, my favorite. Less drawdown very selective in trades. This EA will not run on live(real) account it is only good in demo, so you can trade with a lot of capital, no problem.
But which EA will better trade mini live account? traderdelight 3?
tks
  • #3,005
  • May 4, 2008 11:35pm May 4, 2008 11:35pm
Quoting trader101
Just use one..I suggest the Traders Delight, my favorite. Less drawdown very selective in trades. This EA will not run on live(real) account it is only good in demo, so you can trade with a lot of capital, no problem.

can we run it on Live acc?? how can I do that?

sonic
  • #3,006
  • May 4, 2008 11:44pm May 4, 2008 11:44pm
Quoting sonicdeejay
can we run it on Live acc?? how can I do that?

sonic
I think Trader101 said earlier that he is not ready to release live version and he's not sure how he will release it. Right now only demo versions are available expiring 5-17-08.
  • #3,007
  • May 5, 2008 1:10am May 5, 2008 1:10am
Quoting trader101
If the span of time between closing and its reopening is at least 10 hours its ok to just turn it off. Enough time to let the current trend finish. If less than
10 hours. It must be reattached in order to to allow EA to gather new data and to reset its variable. You dont have to removed just redrag the EA over the EA. Yes thats what we do close weekend trades. Not good to keep trades open on weekends.
There is probably an easier way to do that:
Look at the attached image (red arrow). At the bottom of MetaTrader you will find the profile of your chart-setup which is as a standard DEFAULT.
Prepare the charts with all the necessary EA, Indicators, colors, etc. and than click with the left on the Default profile and use "save as" giving it a meaningfull name, eg DELIGHT.
When we have to reattach the EA just switch first off the "Expert Advisor" button (mad smily), choose the DEFAULT profile and for reattaching the EA switch to DELIGHT profile and all the settings are back. Switch on the "friendly smily" and you are done.
Sounds more complicated than it is. Your are done in 5 sec.
Hope that helps.

Trade101 maybe you can varify this procedure.

Antomi
Attached Image (click to enlarge)
Click to Enlarge Name: default-profile.jpg Size: 59 KB
  • #3,008
  • Edited 2:21am May 5, 2008 1:46am | Edited 2:21am
Quoting antomi
There is probably an easier way to do that:
Look at the attached image (red arrow). At the bottom of MetaTrader you will find the profile of your chart-setup which is as a standard DEFAULT.
Prepare the charts with all the necessary EA, Indicators, colors, etc. and than click with the left on the Default profile and use "save as" giving it a meaningfull name, eg DELIGHT.
When we have to reattach the EA just switch first off the "Expert Advisor" button (mad smily), choose the DEFAULT profile and for reattaching the EA switch to DELIGHT profile and all the settings are back. Switch on the "friendly smily" and you are done.
Sounds more complicated than it is. Your are done in 5 sec.
Hope that helps.

Trade101 maybe you can varify this procedure.

Antomi
Hi Antomi,

You do know how to play with MT4 much better than most of us! Yes, it works and frees us from the complicated routine. It's just like the global version of template (applicable to each chart), good to memorise the whole profile of a screen. Makes life easier and surer.

Thanks for the helpful tips, as always. RS
  • #3,009
  • May 5, 2008 5:43am May 5, 2008 5:43am
T101, maybe a bit early to get excited but with 7 out of 7 trades open all positive on day one of the week I just have to say wow.

12 currencies with MIGFX. Will be keeping all trades open till friday. Will post results.

Damo.
where thought goes energy flows
  • #3,010
  • May 5, 2008 7:17am May 5, 2008 7:17am
Hello, Nice Morning we got here..
For those using the NFinance:
I have added the 2 ccy pairs which i think can bring good pips into our pool of pairs traded:
GbpAud -- spread 12
GbpCad -- spread 12
Remember the more the better. Also The EA seldom trade all the pairs at the same time. If it does that means you are winning big time..LOL. Other brokers that has these pairs you may include them in your traded pairs.
  • #3,011
  • May 5, 2008 7:55am May 5, 2008 7:55am
Does anyone know who the best capitalized MT4 broker is out there? I have not heard great things about IB. Just wondering who the best would be for putting real money into. By the way, I opened the Delight late Friday on my FXDD platform and it's up to about 200 pips right now.
Life is too short to have anything but delusional notions about yourself.
  • #3,012
  • May 5, 2008 8:04am May 5, 2008 8:04am
Quoting hoss
Does anyone know who the best capitalized MT4 broker is out there? I have not heard great things about IB. Just wondering who the best would be for putting real money into. By the way, I opened the Delight late Friday on my FXDD platform and it's up to about 200 pips right now.
You can actually close now and say thats my day...LOL..
I heard good things about Alpari though there leverage is only 100 so you need.. since we need 3,000 for broker with 400 leverage so you need 12000 to trade 0.1 lots??? Am i right. FXdd is good too leverage is only 200. NF leverage up to 500. You call actually.
  • #3,013
  • May 5, 2008 8:09am May 5, 2008 8:09am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting hoss
Does anyone know who the best capitalized MT4 broker is out there? I have not heard great things about IB. Just wondering who the best would be for putting real money into. By the way, I opened the Delight late Friday on my FXDD platform and it's up to about 200 pips right now.
there is a thread on FF about broker sizes and there cash flow, needs hunting down.
  • #3,014
  • May 5, 2008 8:12am May 5, 2008 8:12am
  •  MPP
  • Joined Jun 2007 | Status: Be yourself, everyone else is taken | 2,734 Posts
Quoting trader101
You can actually close now and say thats my day...LOL..
I heard good things about Alpari though there leverage is only 100 so you need.. since we need 3,000 for broker with 400 leverage so you need 12000 to trade 0.1 lots??? Am i right. FXdd is good too leverage is only 200. NF leverage up to 500. You call actually.
can some one please explain leverage, i trade via FXCM uses a different way of trading, but i have been demoing these for the last 3 weeks on 1:100 accounts!!!

I was under the impression that 0.1 lots was the same on any leverage, but if you have 1:200 is just a large account option and so on????????? confused ??? i am.
  • #3,015
  • May 5, 2008 8:20am May 5, 2008 8:20am
Quoting MPP
there is a thread on FF about broker sizes and there cash flow, needs hunting down.

Yes, I did read that thread a while ago, but couldn't find it. I'll keep trying.
Life is too short to have anything but delusional notions about yourself.
  • #3,016
  • May 5, 2008 8:24am May 5, 2008 8:24am
Quoting MPP
can some one please explain leverage, i trade via FXCM uses a different way of trading, but i have been demoing these for the last 3 weeks on 1:100 accounts!!!

I was under the impression that 0.1 lots was the same on any leverage, but if you have 1:200 is just a large account option and so on????????? confused ??? i am.
Leverage ratio of the amount in you balance to trade a certain pair EX. You want to trade 1 lot of EU thats is $100,000, If your leverage is 1:400 then you need 100,000 /400 = 250 in your account to be able to trade that lot. Then if your balance when you are losing.. is approaching the 250 threashold some broker will close all your trade. They call it Margin Call. Im not good in explaining this can somebody do this for our friend here. Sorry MPP if it is still not clear.
  • #3,017
  • May 5, 2008 8:55am May 5, 2008 8:55am
There is one pm to me asking me what is my favorite of all the 5 EAs. Better i respond it here. I think it depends on your style of trading. I fyou are an aggresive trader you should go for Ultimate. It is like shooting with a shotgun to a bunch of ducks. Even if you dont have a good shot still youll hit. If you are more of a game hunter and you want some precision shooting, you would go for Delight. Its like shouting PULL and then start your shot. Now if you are a sharp shooter and you want high quality precision shot like in a hostage situation like you are a member of SWAT you dont want to even scratch the hostage then you use the Traders BEst. Maybe i was able to answer that question alraeady. LOL OK my answer based on my style of trading TRaders Delight.
  • #3,018
  • May 5, 2008 12:16pm May 5, 2008 12:16pm
Can anyone graph the balance, equity and floating P/L (which is actually Balance - Equity) on a min by min basis? Within the platform (borrowing an indicator window of a chart of 13 pairs) or export to / import into Excel? Idea is to consider these figures as one price infor of T101 EA and visualize in the form of a on going graph. We can then capture where we are in regard to the basket buy/sell results. Would be a handy graph to get the most out of the basket concept. A simple line graph of B, E and F values... RS
  • #3,019
  • May 5, 2008 12:33pm May 5, 2008 12:33pm
Quoting trader101
You can actually close now and say thats my day...LOL..
I heard good things about Alpari though there leverage is only 100 so you need.. since we need 3,000 for broker with 400 leverage so you need 12000 to trade 0.1 lots??? Am i right. FXdd is good too leverage is only 200. NF leverage up to 500. You call actually.

Hi Trader101,
concerning the money-management, what is the background for the $3,000-account, 400 leverage and 0.1 lot?

Usually it is a good thumb of rule to risk not more than 2 % per trade of your Investment.
If we would stick to this rule we could only trade 0.006 lots per pair with an investment of $3000. This would be of course the worst case (13 pairs).
With Alpari (leverage=100) only 0.0015 lots (standard) could be traded.
To trade 0.1 standard-lots you must have than $20.000 in your account.

Of course the chance that all trades are going south is very small, wherefore I take another approach.
The last 2 weeks I watched the max drawdown and for EA-delight it was about 5% (trading $10.000 with 0.1 lots, leverage 1:100)
This is very low. People call it a good and robust investment strategy if the drawdown is less than 15%.

I decided for myself to risk about 10% drawdown.
Based on this, I trade 0.015 lots per 1K investment, eg I would trade a $3000-account with 0.045 (0.05) lots.
Or for a $10.000 account I trade 0.15 lots, all with an leverage of 1:100.

This calculation is only based on 2 weeks experience.
Trader101 you have allready more data. Can you check what the max. drawdown was in the worst case?
With that information this approach of risk-management would be more robust.

Antomi
  • #3,020
  • May 5, 2008 12:52pm May 5, 2008 12:52pm
Antomi, you have raised a very good questions because as you can see this EA shake the forex trading concept in so many ways. I have a simple money management you balance 3000 you can trade only 0.1 lot when you reached 6000 then you trade 0.2 lots. For my past demo and live trading, the Maximum drawdown i encounter is $500.00 trading 0.1 lots. Making a quick calculation, with my 400 leverage with IBF, i trade 12 curr they have std margin for $25/pair x 12 = $300.00 plus the 500 max drawdown i encounter = $800.00 which is about 26%. A rather high compared to the acceptable risk of 2%. Again the trading style that we have is not like we put all the trade at one time... We trade from one then two and three and so on . And if you notice the higher number of currency pairs being traded the more positive we are. So as the margin requirement grow bigger the drawdown becomes lower. Thus avoiding the dreaded margin call. I designed the EA such that to drop the nonperforming pair as quickly as it confirms non profitability in order not to strain the required margin. The 3000 initial capital that i estimate is just enough to be called a little aggresive trading. I hope i clarify a little sketicism. Thanks
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