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Is This My Holy Grail EA :D

  • #1,661
  • Nov 13, 2008 3:47pm Nov 13, 2008 3:47pm
had to close down everything and restart. I learned from last time that hope is a dangerous thing...at least in trading.
  • #1,662
  • Nov 14, 2008 5:48am Nov 14, 2008 5:48am
Hi all
Well, yesterday I decided to go live on the AUDNZD 50/20 after demo testing for 3 days and getting amazingly good results (GBP350 using .03 x1.33) on Alpari standard account.

Well, it turns out that Alpari's spread on live is 20 whereas only 12 on demo - next thing I find is that the fills happen easily on demo and often get missed on live.... in the end there were 3 missing trades and so a floating loss that looked like it would never fully get recovered, so I closed at a retracement for a small loss -GBP14 was looking at -75 at one point.

From yest pm to this morning I ran demo 30/10 and it never had DD over 20 and made 185 so I decided to try that on live today......
I was roughly at BE after 3 hours with banked 20 and DD -20 when my PC froze and refused to start again properly - just kept going round in a cycle of endless reboots - so I logged into my live account from another PC and had to manage the trades from there - in quick time a buy was TP so I decided to close all and call it a day...... unfortunately, the 1st level buy was closed at a much lower figure due to the erratic pricing of AudNzd (all my live TP trades had the lower levels close at much less favourable prices... sometimes so that 3 levels deep for example would only net GBP0.50!) but the biggest suprise was that the sells were closed much higher than the buys at prices that don't seem to have occured!!! see SS.
I am planning to write to Alpari for an explanation!

Looks like IBFX may be the way to go..... anyone have good experience with these ea's with any other brokers?
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He has the right to criticize who has the heart to help. Abraham Lincoln
  • #1,663
  • Nov 14, 2008 6:01am Nov 14, 2008 6:01am
When will people learn.

Brokers are there to make money out of YOU. They are fully aware of Grid Martingale EA's and will employ techniques to requote your trades or close you out higher than you request.

They employ teams of people to fully test EA's on here and elsewhere and highlight any that pose a significant risk to there profits above the money they make on the spreads.

Sooner or later these type of EA's will blow your account up, not so much because of their logic but because logic the brokers are using to conteract your trades.

Also, dont forget that if you have a power failure or your ISP goes down then you stand to lose a great deal of monies due to Grid/Martingale type EA's.

On that note, happy trading.
  • #1,664
  • Nov 14, 2008 6:44am Nov 14, 2008 6:44am
Quoting jack1943
When will people learn.

Brokers are there to make money out of YOU. They are fully aware of Grid Martingale EA's and will employ techniques to requote your trades or close you out higher than you request.

They employ teams of people to fully test EA's on here and elsewhere and highlight any that pose a significant risk to there profits above the money they make on the spreads.

Sooner or later these type of EA's will blow your account up, not so much because of their logic but because logic the brokers are using to conteract your trades.

Also,...
A great deal? Not really... all my 'grid martingale' type ea trades have a stoploss that losses me a max 5%... So if worst comes to worst I'm looking at maybe a max loss of 200$, which is fine with me since I'm running at about +10% a week with a stoploss hit every other or longer.
  • #1,665
  • Nov 14, 2008 7:25am Nov 14, 2008 7:25am
Quoting jack1943
When will people learn.

Brokers are there to make money out of YOU. They are fully aware of Grid Martingale EA's and will employ techniques to requote your trades or close you out higher than you request.

They employ teams of people to fully test EA's on here and elsewhere and highlight any that pose a significant risk to there profits above the money they make on the spreads.

Sooner or later these type of EA's will blow your account up, not so much because of their logic but because logic the brokers are using to conteract your trades.

Also,...
There is one problem with your argument, YOU DONT LEAVE YOUR MONEY IN YOUR ACCOUNT UNTIL YOU BLOW IT UP. You take your profits out every week. It is that simple guy. I made 500 bucks this week and the first thing I will do is fill out the form and send it in to IBFX. I do this most weeks and it works well. You have not made one single penny in forex no matter what system you use until you withdraw your money.

I have been doing this for 10 months now guy, I make money on a regular basis. If what you said is true no one would be trading forex because everyone is guaranteed of losing money. Companies, like IBFX and others cannot stay in business unless their clients make money. That is a simple fact. Coming up with this the broker is going to get you guarantees you will lose money. Instead of blaming your bad decision on yourself, you blame someone else so your guaranteed of making the same bad decisions all over again.

Anyway, I have moved up to 34th place in the IBFX contest this month. we will see where I am at after today since I increased my account another 10% today. I am going to take the 500 dollars I am withdrawing from my other live account and putting it on my daughters tuition for college this week. Good luck and I hope you get over the blaming the broker game.
  • #1,666
  • Nov 14, 2008 8:37am Nov 14, 2008 8:37am
To each and every poster who comes on this forum to say that any type of maritngale is suicide, you need to read way back in the discussion about the need to manage your account at a minimum of twice per day. You need to manually close positions before they get too far away from you....

To prove that point, I decided to let a demo ride it out to see what would happen if it was trading at the rate of 1 cent per $1,000... the account traded 5 cent lots with a $5,000 opening balance... And yes... left unattended, even that blew itself up in the current volatility. I was using the 1.5X 100, 40 EA trading 20 pairs....the balance by the end of last week was $6.... not a pretty sight!

Discretion will always be necessary in this game. What would UBS or Morgan Stanley pay for an EA that really created steady gains all on it's own?
  • #1,667
  • Nov 14, 2008 8:41am Nov 14, 2008 8:41am
Quoting Jim4x
Hi all
Well, yesterday I decided to go live on the AUDNZD 50/20 after demo testing for 3 days and getting amazingly good results (GBP350 using .03 x1.33) on Alpari standard account.

Well, it turns out that Alpari's spread on live is 20 whereas only 12 on demo - next thing I find is that the fills happen easily on demo and often get missed on live.... in the end there were 3 missing trades and so a floating loss that looked like it would never fully get recovered, so I closed at a retracement for a small loss -GBP14 was looking at -75 at one point.

From...

I would definitely switch to IBFX. They have a 14 pip spread on Aud/nzd.
  • #1,668
  • Nov 14, 2008 10:29am Nov 14, 2008 10:29am
100/40 update
Settings:Trading EUR/USD only, 100/40 .01 or .02, multiply 1.5, max. trades 15, no stop Loss, letting EA run all week. Shutdown for weekend.

Beginning balance- $3000
Balance After Week 1 - $3130 (.01 lots) Deepest trade level (9)
Week 2- $3239 (.01 ) (10)
Week 3- $3409 (.02) (10)
  • #1,669
  • Nov 14, 2008 12:25pm Nov 14, 2008 12:25pm
I honestly don't understand why people think that the brokers are 'out to get you'. I've read a lot of posts where people theorize about advanced systems that are supposed to 'know' what your EA is doing so they can 'fight' it to make you lose your money. Brokers make money when you buy or sell. They don't make any extra money if you lose and they don't lose any money if you win. They simply take a cut when you buy or sale. If you blow your account in a week, then you don't buy or sell and the broker makes $0. It's in the brokers best interest to help you succeed.

When your account is losing cash, make sure you know where the blame lies, with YOU and the market. Don't try to place the blame somewhere else, on God, slow Internet, the Broker, computer, etc...
  • #1,670
  • Nov 14, 2008 3:59pm Nov 14, 2008 3:59pm
Rough week but still increased my account. Here is my demo account results for the 100/25 errrrrrrrrrrrr 30.
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  • #1,671
  • Nov 14, 2008 4:02pm Nov 14, 2008 4:02pm
Here is my live account trading the contest for the week. I am using the AUD/NZD and trading it. Its kind of funny but I am doing better with my live account than I am with my demo account.
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  • #1,672
  • Nov 14, 2008 6:53pm Nov 14, 2008 6:53pm
Quoting nanningbob
Here is my live account trading the contest for the week. I am using the AUD/NZD and trading it. Its kind of funny but I am doing better with my live account than I am with my demo account.
27th. not bad It is rather hard to beat the top two they have 1000%+ which is just.... crazy if you could do it regularly. The problem is, they can't and they do it just for the contest.
  • #1,673
  • Nov 14, 2008 11:32pm Nov 14, 2008 11:32pm
Quoting Verto
27th. not bad It is rather hard to beat the top two they have 1000%+ which is just.... crazy if you could do it regularly. The problem is, they can't and they do it just for the contest.
Yes but a lot of those systems carry a large negative balance and they have to close the last day and they come crashing down. I have had past contests where I gave up only to find they disappear the last day and I could have placed. I am not doing that this month.
  • #1,674
  • Nov 15, 2008 12:47am Nov 15, 2008 12:47am
Quoting nanningbob
Yes but a lot of those systems carry a large negative balance and they have to close the last day and they come crashing down. I have had past contests where I gave up only to find they disappear the last day and I could have placed. I am not doing that this month.
True, I laughed last month I ended up in 73rd or whatever just placing two positive trades at the end of the month. It was rather sad how few people actualy breakeven or even gain small profit.

All the same I'm in the 130s right now, maybe I can gain some ground on you. Haha.
  • #1,675
  • Nov 15, 2008 8:07am Nov 15, 2008 8:07am
Quoting Verto
True, I laughed last month I ended up in 73rd or whatever just placing two positive trades at the end of the month. It was rather sad how few people actualy breakeven or even gain small profit.

All the same I'm in the 130s right now, maybe I can gain some ground on you. Haha.
I found out if you have a winning month you can always place in the top 100 somewhere. Guys write how dealers are out to get you. They dont have too, they just need to let people play with the market. Companies like IBFX allow beginners to cut their teeth on the markets without investing tens of thousands of dollars. I am glad there is a company out there that lets me trade with 300 bucks and make a go at it.

I wish the guy who taught me this business had taught me to trade with pennies until I learned the thing. If price goes against you 100 points a 1.00 loss is sure a lot easier than a 100. I am teaching a friend this business and told him to use dimes. If he ever got good at that then he could try more. I watched his account and he started losing money and it took him about 10 days to lose 100 dollars. He then decided he wanted to make up the 100 hundred quickly and went about 400 more in the hole in 4 days. I convinced him to go back to dimes and now he is breaking even most days with his dimes. I told him if he could win back 500 dollars trading dimes he was ready for dollars. We will see how he does.
  • #1,676
  • Nov 15, 2008 7:28pm Nov 15, 2008 7:28pm
I see in the 100/40 (and probably in all of Bob's EA's) slippage is set to 5. Say we're sleeping or away from the computer and price spikes, creating slippage more than 5 pips. IBFX or whoever is your broker gives you a requote and you're not there to accept it. Wouldn't this lock up the EA for any additional trades until you noticed the problem? I guess you could allow for more slippage to cover for this but that may not be a good idea. Second question for all you live IBFX traders- are you seeing any more slippage live compaired to demo? Last question- have you ever been requoted while trading these EA's? Thanks
  • #1,677
  • Nov 16, 2008 2:39am Nov 16, 2008 2:39am
Quoting Toothman
I see in the 100/40 (and probably in all of Bob's EA's) slippage is set to 5. Say we're sleeping or away from the computer and price spikes, creating slippage more than 5 pips. IBFX or whoever is your broker gives you a requote and you're not there to accept it. Wouldn't this lock up the EA for any additional trades until you noticed the problem? I guess you could allow for more slippage to cover for this but that may not be a good idea. Second question for all you live IBFX traders- are you seeing any more slippage live compaired to demo? Last...
Good questions, dont have all the answers but this is what I understand.
1. I have never seen an EA show a requote, what it does is keep submitting the order until it is taken. So it does not lock up.
2. Adding slippage in the EA maybe a good thing however I have never tested it because I have always seen profitable trades with not that much variance. What I mean by that is when I compare profits from different trades the amount was never that significant. Maybe a buck or so. I think that is because of the multiple entries and multiple profits. On a .10 amount trade and there is slippage of 5 points that is only .50 cents. On a trade that makes 7-8 dollars that is not much but I am sure over a year that adds up.
3. Stock traders know you dont get your price until there is a buyer. The same is true in Forex but because there is so much money being traded we get our price usually within 2-10 points so its not that big of a deal. In stocks there are days price may go several dollars before a buyer is found. Be thankful you dont have to face that. That is one of the superiorities of Forex over stock trading. There are many people new to trading that just think if you enter an order at such a price that is what you should get. That simply is not true in trading, we often get the price because Forex is so liquid but that is not necessarily true when price is really moving.
4. Now that the markets are volatile we may have to change our slippage to 10. I never thought of doing that but we may have to in these crazy markets. You cant expect your broker to pick up the difference between the price you see and what he is paying. You are going to pay the difference, that is just business.
  • #1,678
  • Nov 16, 2008 6:23am Nov 16, 2008 6:23am
Quoting nanningbob
Good questions, dont...
Thanks for the reply Bob. I think I'll change my slippage to 10 for the AUD/NZD and all other pairs also. Wow, you had a nice profit this week. I'm really interested in seeing how IBFX treates your EA's if you continue to do well. I'm wondering, will they add slippage or at some point worst case senerio,shut you down and say you're trading unfairly. I did a search of IBFX on the web and found many complaints of higher slippage on real money accounts compaired to demos. I'm sure alot of the bad reports come from people who have lost money though.
  • #1,679
  • Nov 16, 2008 6:45am Nov 16, 2008 6:45am
The 100/25 errrr 30http://www.forexfactory.com/images/icons/icon7.gif doesn't let you get into the code to change the slippage.
  • #1,680
  • Nov 16, 2008 1:10pm Nov 16, 2008 1:10pm
Quoting Toothman
The 100/25 errrr 30http://www.forexfactory.com/images/icons/icon7.gif doesn't let you get into the code to change the slippage.
When you open the code to the program you can hit control F. This will give you a word search of the program. Type in slippage and it will take you to the slippage section to change the code. I also am adding the EA with the code changed to slippage of 10.
Attached File(s)
File Type: mq4 100x25 .05x1.3.mq4   24 KB | 903 downloads
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