Disliked{quote} The optimize setting is 1:200 - 1:500 leverage setting. And no margin call as the nature of the EA does not works well with margin call. You can try FxPro or Amanda Market.Ignored
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- #41
- Nov 6, 2013 8:59am Nov 6, 2013 8:59am
- | Commercial User | Joined Aug 2011 | 1,121 Posts
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- #42
- Nov 6, 2013 9:06am Nov 6, 2013 9:06am
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
- #43
- Edited 2:11pm Nov 6, 2013 1:53pm | Edited 2:11pm
{quote} Hey guys, What does it mean by "no margin call"? Every broker has margin call right? FXPro and Armada Markets also have margin call. What are they talking about??
In FxPro, account will only stop trading when reach $0 in equity, there no margin call.
Some broker will close all your trades when your margin hit 70%( AAAfx ) etc which Is very unhealthy , maybe its can secure your equity.
But to me its a kind of trick by the broker to make you hit Call Margin easily so you can't hold your position, they don't let you change the margin call % also, which I think is trick for them to easily make your money.
FxPro is different, Take note I am not FxPro staff or related personal, I just like the idea of 0% call margin.
It is always and well known that you only trade what you can afford to lose in Forex, so whats the point of margin call?
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{quote} If no margin call that means you losing your account together with your pants too??
now we see the true test is coming. what if the market break into trend and never come back? today might be a nice example to show your system LIVE or DIE.
Margin call is useful to certain people. What is the point of margin call if I can take care of my own SL and money. I know there many parameter in trading that is useful and you can call me an amateur trader. But what important at the end of the day is to trade with "Consistency and making profit".
Like I say, I am playing roughly < $20000 , I got a lot of money ready to be topup to reduce drawdown.
You can say what I use to run this investment is less than 10% of my saving. Today won't determine whether my account live or die.
I am just trading less than 10% of my asset, assume I topup $20000 , a 80% drawdown will become a 40% drawdown, what you need know to this system I am deploying is to obtain "Profit Stability"
You can say its money management or can say I build into losers, one thing the EA is doing is to continue take advantage of movement in range / trend.
The Idea of my EA is actually build on a very simple ideology which is dummy proof although many people din't know its the holy grail they are seeking. One of the key ideology is Money Management & Risk Management, many people who manually trade with SL will get involves in emotional trading, speculation trading, greed trading, revenge trading.
That's normal, we are human and we got feelings. But EA got no feeling, it follow your rules and your logic, and continue remain that way till you change its setting.
The different between Grid & Martingale and SL trading is
1) Martingale trading - if its fail, it will be TOO BIG to cover. You know the lot size can multiply till some monster amount. - But its okay if you can win 1 out of 4 - 0.1 > 0.2 > 0.4 > 0.8 ( 1 out of 4 entries, you must win 1 to substain )
2) Grid Trading - Easy manage as long you got deep pocket and proper EA coding & settings <- applicable for me since i only trading 10% of my asset
3) With SL - do you see the whipsaw on GBP / USD today, weak long, weak short get wash out, strong long / strong short can get into deep shit if wrong trend. I agree that there is on-going discussion with concern to using stop loss and other debate like margin call.
All of this issues I got take into consideration, afterall I am a programer and I know we always prepare for the worse case, if you prepare for the worse case, what could get worse for you ?
Anyway back to the story:
Should ECB decided to be more hawkish today, I might need to temporary load money to reduce drawdown and tolerate this damage.
Otherwise, I could just leave it as it is and take profit, my account will be stronger and more tolerance to future attack. as you know
4 of my accounts start roughly at
$1000
$1300
$1000
$11000
Right now after less than a month they are
$2500
$2400
$1800
$13500
As time past, the account equity will get higher and of course I can increase my size, sort of like compouding. With proper lot size and proper settings in my EA, my risk is limited. I am not like traditional grid or traditional trading method, everything weakness of the system I deploy is carefully thought of to make me able to get consistent profit.
How I manage my risk to make my drawdown so low despite the move against me and the entry, sl setting everything is the wonders of the EA
But of course there still a chance I will lose, if the price move against me in 300 pips at 1 shot, I might lose.
Like many traditional traders here and other place, they are against the idea of "NO SL" , Grid / Martingale can't work. What can't work now doesn't mean it will not work, there are a lot of success stories with Grid Trader making 200% returns in 6 months, as long you code the EA properly with proper money management which my EA provides, its a sure win case.
I believe we should try all kind of possibilities in trading and then we can prosper together. Actually making money in Forex is quite dummy proof and can be break down into simple math term, there are possiblity like a 1000 pips movement in 1 day but we can always define that as "Rare Risk" which occur at a very low %.
If everyday while walking the path of Forex, you are afraid that "Rare Risk" will happen, then you should not trade Forex and just keep your money below your pillow which still got risk thou.
Trading is something special.
- #55
- Nov 7, 2013 9:23am Nov 7, 2013 9:23am
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts
- #57
- Nov 7, 2013 10:15am Nov 7, 2013 10:15am
damn, you did sail thru this storm, lol congs! i think that the key is to crazily accumulate sufficent profit before next 'storm'. if your EA can do that, it is indeed a 'holy grail'.
I am interested on this EA. contact me for details please mehdi.pazhouhesh AT GMAIL
Trading is something special.
- #58
- Nov 7, 2013 10:37am Nov 7, 2013 10:37am
- | Commercial User | Joined Aug 2011 | 1,121 Posts
Follow me to the Promised Land
- #60
- Nov 7, 2013 3:46pm Nov 7, 2013 3:46pm
- Joined Dec 2006 | Status: Backtest is meaningless (to me) | 2,176 Posts