If you cannot improve on a situation, do not make it worse/worst.
- #4
- Apr 18, 2008 11:23am Apr 18, 2008 11:23am
- Joined Nov 2007 | Status: Trying manual mode again | 2,210 Posts
- #5
- Apr 19, 2008 11:33pm Apr 19, 2008 11:33pm
- Joined Feb 2006 | Status: Blah blah blah | 1,410 Posts
The breaking of a wave cannot explain the whole sea.
- #6
- Jun 10, 2008 6:28am Jun 10, 2008 6:28am
Yeah, you can try that, but a max drawdown of 25.51%, and a relative drawdown of 88.34%. it's going to take nerves of steel, and a big set of brass... well you get the point.
Case in point... yesterday I was using and EA on a small mini account ~ $300 or so, then EUR$ went down hill quick, the EA did as it was programmed, bought more and doubled the lots as it went, I guess I was about -180 float, and about 5 pips away from where the EUR$ finally turned up, BUT I was stoped out at 49% margin, My broker closed one of the trades to cover margin, and the EA though it was susposed to close the others, and it did, final loss >$200. This is on a "live" demo. If I had about $10 more equity in the account it would have cleared the trend, and rode it out until it started to turn up, and I would have profited about $100, instead I lost about $200.
What I am trying to say is do your due diligence, which means, read and read until your eyes bleed, and you can see charts in your sleep. Then learn a system or a few, find somethinkg you like, then see if there is an EA that will help you trade it. I only say help because I haven't heard of one that can go on forever without human intervention, and if someone found it, they ain't sharing.
ps, that EA I was using, probably not the best
Rusty
Case in point... yesterday I was using and EA on a small mini account ~ $300 or so, then EUR$ went down hill quick, the EA did as it was programmed, bought more and doubled the lots as it went, I guess I was about -180 float, and about 5 pips away from where the EUR$ finally turned up, BUT I was stoped out at 49% margin, My broker closed one of the trades to cover margin, and the EA though it was susposed to close the others, and it did, final loss >$200. This is on a "live" demo. If I had about $10 more equity in the account it would have cleared the trend, and rode it out until it started to turn up, and I would have profited about $100, instead I lost about $200.
What I am trying to say is do your due diligence, which means, read and read until your eyes bleed, and you can see charts in your sleep. Then learn a system or a few, find somethinkg you like, then see if there is an EA that will help you trade it. I only say help because I haven't heard of one that can go on forever without human intervention, and if someone found it, they ain't sharing.
ps, that EA I was using, probably not the best
Rusty
Case in point... yesterday I was using and EA on a small mini account ~ $300 or so, then EUR$ went down hill quick, the EA did as it was programmed, bought more and doubled the lots as it went, I guess I was about -180 float, and about 5 pips away from where the EUR$ finally turned up, BUT I was stoped out at 49% margin, My broker closed one of the trades to cover margin, and the EA though it was susposed to close the others, and it did, final loss >$200. This is on a "live" demo. If I had about $10 more equity in the account it would have cleared the trend, and rode it out until it started to turn up, and I would have profited about $100, instead I lost about $200.
What I am trying to say is do your due diligence, which means, read and read until your eyes bleed, and you can see charts in your sleep. Then learn a system or a few, find somethinkg you like, then see if there is an EA that will help you trade it. I only say help because I haven't heard of one that can go on forever without human intervention, and if someone found it, they ain't sharing.
ps, that EA I was using, probably not the best
Rusty[/quote]
I dont understand the logic with risking $200 to make $100. 3 to 1 is my minimum
What I am trying to say is do your due diligence, which means, read and read until your eyes bleed, and you can see charts in your sleep. Then learn a system or a few, find somethinkg you like, then see if there is an EA that will help you trade it. I only say help because I haven't heard of one that can go on forever without human intervention, and if someone found it, they ain't sharing.
ps, that EA I was using, probably not the best
Rusty[/quote]
I dont understand the logic with risking $200 to make $100. 3 to 1 is my minimum
- #8
- Last Post: Jun 10, 2008 1:12pm Jun 10, 2008 1:12pm
Yeah, like I said probably not the best EA
I had it starting with .01 lots, and a step of 20, so everytime the trend went 20 pips away from your tp, it added a new order which is double the previous order. It is fine untill you are about 7 steps away (140 pips) at that point it already placed an order for 1.28 lots, the next would be 2.56, then 5.12. It only has to retrace enough for the last order to reach TP, then it closes all orders, in some sort of profit, or minor loss. The problem is the large amount of margin needed. Anyway that is not the point. The point is to be sure you know exactally how the EA works, and be sure you have enought to cover those runaway conditions, or be sure the EA gets out.
Rusty
I had it starting with .01 lots, and a step of 20, so everytime the trend went 20 pips away from your tp, it added a new order which is double the previous order. It is fine untill you are about 7 steps away (140 pips) at that point it already placed an order for 1.28 lots, the next would be 2.56, then 5.12. It only has to retrace enough for the last order to reach TP, then it closes all orders, in some sort of profit, or minor loss. The problem is the large amount of margin needed. Anyway that is not the point. The point is to be sure you know exactally how the EA works, and be sure you have enought to cover those runaway conditions, or be sure the EA gets out.
Rusty