Discussão Tom'sEa WPFX LIVE

Hi Dustin,

it is good for you to come to front desk.
we are really concern is about the risk. we did not so cared about what your talked above because we can compare your online results with our trading account, very similar. No problem.

because you did not want to disclose the details about your strategy as others. we have to try to assess the Risk ourselves. we could not understand the real risk with current market condition. but someday after you wake up, your account will be blown.

we believe you are a real gentleman, please care about Maxtrade post as follows. You can check the links for each account.
 
maxtrade posted:
   This EA have 600pips stop loss, and when SL is hit it takes very very long time just to cover back. I have done some backtest with dukascopy 99% tick data. You need at least 5000 to survive from DD and when it hit SL.
My backtest result (01.01.2009-01.11.2011) : EURUSD,RL : 1

Deposit : 1500. Margin Call on 19.03.2009
https://www.myfxbook.com/strategies/1500/10314


Deposit : 2500. Margin Call on 05.02.2010
https://www.myfxbook.com/strategies/2500/10315

Deposit : 5000
www.myfxbook.com/strategies/5000/10319

waiting for your feedback.

I would find this a lot easier to believe if i had not seen the code of v1.87 set to 10% and then in v1.88 changed to 1% (both at minimum risk setting of 1). I ran the EA, and I was told to expect as much as 12%/month at maximum risk. I ran on minimum risk and got over 30% the first month. I am just pointing out the evidence I have experienced firsthand. The ea HAS BEEN very profitable. I am not saying it hasn't. I am saying that something is not right though. All the facts don't line up properly. Matter of fact, now that I think about it, I remember the minimum risk being set at 10% as early as v1.83. I can't comment about anything before that as I haven't seen it.

Be careful people. Remember, they are in this to make money. And the money they want is your money. Again, I recommend to avoid trading this system until you are capable of trading profitably using a manual system. That is the only way you can give yourself some protection to the damage this ea can do. It is a tool, and tools WILL hurt you if you do not know how to use them properly. Look at the backtests that maxtrade posted. Now imagine what would happen if you tried to run multiple pairs just as a bad run of the market happens on every pair. Remember.....you MUST assume that any system you start using is going to start on a losing streak before things get good. Always expect the worst. RIsk, risk, risk. i am not trying to tell you don't ever use this EA. It is profitable. But....if you don't know how to read the markets, it will give away all of your profit when the bad streak hits. Look at the backtests. This isn't a scalping EA so those backtests are an accurate picture of what to expect.

Risk management first!

All I can say is.... so far I'm very happy with this EA. Have been running live for 26 days and my account is up almost 12% with very little drawdown. My account is available for all to see.

   flopps posted:
   All I can say is.... so far I'm very happy with this EA. Have been running live for 26 days and my account is up almost 12% with very little drawdown. My account is available for all to see.

good for today, My account is about 14%. but see for long time.......

Firstly, a thank you to Dustin,
it's good to see you participating to the discussion and good to see that you read the posts. It might be tedious for you, but my view is that the developers should have a duty to participate and to clarify doubts. After all, is not a free product, we do pay you for it :-) and you do tend to keep a veil of secrecy over certain aspects of it.

I personally would be interested in an explanation on the stop loss system and protection measures (if any) against a doomday scenario as maxtrade portrays in his tests. Even if it is only a recommendation for something we should do or keep an eye on manually.

Generally, more participation and discussion would be good and is going to improve your sales no doubt.

Fughe:
I am not sure what you are recommending? As a newbie to automated systems, I heed your expert advice. However it is not clear to me what you position is? Should this EA be binned? Should it be used as it is? Do you have any expert opinion on how to improve the performance, any practical steps?

Does anyone has an opinion on my view that the EA could perform better with increased hedging characteristics (Dustin?), providing enough capital is available for margin?

Thanks

Flopps,

that is also my position and my 2 accounts (live and demo) are also open for everyone to see if anyone is interested.

   tradingshed posted:
  
Fughe:
I am not sure what you are recommending? As a newbie to automated systems, I heed your expert advice. However it is not clear to me what you position is? Should this EA be binned? Should it be used as it is? Do you have any expert opinion on how to improve the performance, any practical steps?

Does anyone has an opinion on my view that the EA could perform better with increased hedging characteristics (Dustin?), providing enough capital is available for margin?

Thanks

Very specifically..... If you are new to trading, and you have accepted the fact that you can VERY EASILY loose ALL of your money trading forex.......AND are determined to use this EA...... You NEED to immediately start learning how to trade manually, and you need to get good at it really quick.

Best case scenario---- stop using the EA temporarily and work on trading manually until you can do so with real money profitably. At that time, you will be ready to deal with whatever bad situation this EA could get into.

To be honest, there is no EA made for MT4 that is completely safe as is. You really need to be able to trade manually and have success. If you are interested, I know of some very reliable sources that can help you. Some of them I have actually used myself. Send me a message if you would like further details. Also....I am not selling you anything. Some of the sources are free, and some will cost money, but I have no ties to them other than having used them and gained good trading skills from them.

Would be good if pps could also post the broker they use - different brokers and settings will affect ea performance.

I attempted toms ea on IAMFX with a $800 account - if you look at my system it seemed to work briefly, however the margin required (as this is martingale) gradually increased with the losing open trades, until eventually I had to manually close out the losing trades and take a $250 haircut. I no longer run this ea, but perhaps I chose the wrong broker/setting/too low balance???

So far after two years searching I have only managed to find one ea that seems safe - and only with one broker. GPS forex seems safe on IAMFX, but I am happy to gather feedback from other traders as to this ea's performance for them, and possible improvements (ideally more regular trades).

   BluePanther posted:
   Would be good if pps could also post the broker they use - different brokers and settings will affect ea performance.

I attempted toms ea on IAMFX with a $800 account - if you look at my system it seemed to work briefly, however the margin required (as this is martingale) gradually increased with the losing open trades, until eventually I had to manually close out the losing trades and take a $250 haircut. I no longer run this ea, but perhaps I chose the wrong broker/setting/too low balance???

So far after two years searching I have only managed to find one ea that seems safe - and only with one broker. GPS forex seems safe on IAMFX, but I am happy to gather feedback from other traders as to this ea's performance for them, and possible improvements (ideally more regular trades).

That is wild! You are the only person i have ever encountered who has used the GPS.

fughe have u used GPS? What has been your experience with this?

I only used GPS as it came with the VPS for IAMFX. I tried Megadroid and FapTurbo but with mixed results, so I have ceased using those two.

   BluePanther posted:
   fughe have u used GPS? What has been your experience with this?

I only used GPS as it came with the VPS for IAMFX. I tried Megadroid and FapTurbo but with mixed results, so I have ceased using those two.

I have had crap for results with FapT and megadroid is incredibly slow on its recovery from a loss, so.....I gave up on both of those a long while ago. So far, GPS is the only EA I have seen that holds a steady upward run. It isn't fast, and I hate it when it loses and does the recovery trade(because it is enormous), but...the GPS works.

Now, if I knew exactly how each of those systems (megadroid and Fapt) work, I might consider running them again. In that instance I could decide if it was a good day for them or not. As is.... I do not trust either of them.

   GlobalProfit posted:
............
Second, people have also said that we have hid the open positions in an attempt to hide the draw down of the accounts. Once again this is a false accusation. If you want to see the draw down simply look at the equity line below the balance line on the chart for this account and you can clearly see the draw down on a day by day basis.

The last thing I want is for people to think that we have any desire or need to mislead the public. That is not our desire.
............
Dustin

Thanks Dustin for joining myfxbook & for commenting on this thread.

I feel though a certain point has been missed.

Whilst one can 'simply look at the equity line below the balance line' this is merely a reflection of closed trades and not the topic at hand.

The fact that the 'Open Trades' are hidden (I believe) is what everyone is talking about in terms of drawdown. For example, my testing shows a consistent 34 OPEN TRADES of which a majority are losers of up to 3.8% (individually @ current value) when the risk is set to 1%.

Even if each trade could ONLY lose 1% that means I am at 34% risk on my account.

This is of course not correct as many trades are more than the 0.01 lots size - my current largest is 0.26 or 26% on one trade (assuming the fixed stop size is the same for every trade)

I have a total of 1.48 lots on the table at present or 148% risk

These trades date back as far as 10 Oct - basically, the EA holds on to losers (so again they will not be visable in the 'equity curve') - I don't know if there is even a true fixed stop value as (My assumption) is that the fixed stop is a moving target????

Regarding the consistent 8% per month returns mine has demonstrated:
Sep 3.38%
Oct 6.94%
Nov (-)2.82%
Always 1% risk - always connected via VPS

Your comments welcomed.

Cheers......

'I have had crap for results with FapT and megadroid is incredibly slow on its recovery from a loss, so.....I gave up on both of those a long while ago. So far, GPS is the only EA I have seen that holds a steady upward run. It isn't fast, and I hate it when it loses and does the recovery trade(because it is enormous), but...the GPS works.

Now, if I knew exactly how each of those systems (megadroid and Fapt) work, I might consider running them again. In that instance I could decide if it was a good day for them or not. As is.... I do not trust either of them.'

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Totally agree fughe.

Same goes for Swiss-Accu Scalper, AUDNZD Retracer, Forex Overdrive, etc. Tried on other brokers with mixed results - NOT GOOD ENOUGH!!!

To any developers out there that think they got what it takes: GOING BACKWARDS IS NOT AN OPTION. A GOOD EA ONLY MAKES PROFITS.

I remember seeing a table which illustrated the gains required after losing x% of one's account: after losing x%, a trader / ea must work doubly hard to make back the losses PLUS make profits on top.

What ever happened to strategies used by 'The City' broker (London GB) that gave away his millions from trading to start from scratch again, only to be back in millions a year later?? (I read this in my local paper in Australia)

What ever happened to strategies used by the Chinese maths teacher, who stayed up late and learnt about forex, who eventually retired within a month of trading forex?? (https://forexclub.biz/ - information 'outdated' so was removed from site)

CanAm

Typical martingale system - all martingale systems are DANGEROUS (with a capital capital D)!

Based on probability alone, it can be likened to tossing a coin - good luck trying to 'get a Head' when you keep getting Tails. The market either goes up or down, the ea either buys or sells, and you either make a profit or loss. But when 50/50 for a martingale ea, you are not going anywhere.

In fact, a martingale ea is worse since it cuts profit quickly, yet leaves losses to continue mounting...

You can only lose with this one.

Better if it could cut losses quickly and leave profits to run (with a trailing stop).

   BluePanther posted:
   'I have had crap for results with FapT and .......'

What ever happened to strategies used by ..........

Fapt was one of the biggest cons around, no sorry, Fapt Evolution was......those guys are outright crooks.

I'd suspect the strategies, in fact the people, probably don't exist?? About as factual as the sort of info(mercials) we get blasted with on TodayTonight or similar :)

Sadly there doesn't seem to be any genuine traders out there sharing their ideas. I've paid many$$$$ in education over the years for the likes of Poulis / Secker / etc / etc - not one has shown promise to date.

And yet the search continues......trying to teach myself MQL4 atm to test some ideas but after Metatader/Wealthlab/Omni/etc it seems my brain is full and its taking me a long time to get a grasp on this one......I think I've reached capacity LOL

Seems my posting has created some additional comments and questions. I am typically pretty quiet on these forums because a very small few of our overall user base is on this particular forum and therefore the majority of my input shows up through new videos etc. in the members area. That said I do want to make an attempt at answering some questions and clarifying certain points.

I will start with the last post made by CanAm, I believe its just a matter of misunderstanding the myfxbook charts. The equity line on that chart has nothing to do with closed positions. The equity line is the balance of the account plus or minus open positions. This means that it takes into account any open positions. So if the equity line is below the balance line by $500 than you know that we effectively have a negative $500 position and that is our draw down at the moment. This also allows you to look back over the history of the account and see the worst draw down we have experienced. It is very transparent and that is why we chose to use myfxbook so everyone could be sure that we are not making this stuff up :). Regarding your trades that date back to October 10th. I am not sure how or why you would have trades that old unless you lost connectivity for a few hours or something and there was a gap that caused you to miss an entry. Are you trading the AUDNZD at all. Sometimes those trades can linger due to the small amount of movement seen out of that pair. I was actually really close to being flat on a couple of my account yesterday so I am a little surprised at this

To Fughe and your distrust. I dont think I will spend much time on this as you seem to have a pretty strong opinion and I dont believe that arguing on this forum is a useful use of energy for either of us so I will simply say one more time that your assumption is incorrect and ask that anyone who used the EA prior to 1.88 and did not experience this simply state that. I'm not really sure how many people are monitoring this but hopefully this can be cleared up easily enough. On to trade management...

This is a cut and dry how it works explanation without going into to much detail.

The EA enters a trade based on some 1 minute MA's. This is a fairly arbitrary entry as the 1 minute is not often to impact-full but it starts things out. If the market goes against us a certain number of pips we will begin to look for another entry based on 1 minute MA's. This is true for the first three entries which all have the same trades size. Once we get beyond the first three and are considering going into the market with a larger trade size (three times the first trade size) we move to higher time compressions and look once again to a number of MA's to help time the entry. As the market runs further against us and our trade sizes increase we also look to larger time frames for a momentum shift once again using a number of momentum indicators.

Stops are currently set to 600 pips per position and the number of trades is only limited by the markets movement, i.e. the MA's positions and the distance the market has moved away from the last position is the primary factor in additional positions being added. As the market runs against us we continue to add positions while at the same time clear off older positions that have reached the 600 pips stop. Keep in mind that if you are trading this within the guidelines that stop on the first few levels is only going to be around .02% of your account and it should not take more than a couple days to make that back up on the outside.

Lets talk about worst case scenarios. This type of strategy can margin an account if the perfect scenario occurs i.e. the market is moving in a way that new positions are added but the market does not retrace at all. There are two items that help us combat this. One is the fact that we do not continue to add to a runaway market because the MA's will maintain continuous movement and remember that the strategy will only take a trade when the momentum shifts back to our direction. The second thing we have done is strongly pushed people to keep the risk very low on the front end which provides a lot more room for this type of move.

If you are uncomfortable with this type of strategy you can always create some mental level in which you pull the plug. I would say this should be in the 40 to 50 % area. This is up to you and I have not seen this EA go that far unless used outside the guidelines.
Hopefully that sheds some light on to how this works and the risks that are there. One other thing, if you are concerned with this another thing you can do is remove your profit once you get to 100% that way if worst case ever does happen you will still be way ahead. Although I hope we never experience the EA blowing up I have learned a long time ago that you can not put boundaries on the market. I have at this point made my initial starting balance back and intend on protecting that so from now on I will just let it do its thing.

I hope i have shed some more light on the strategy for everyone and we are looking at adding some type of forum to the members area so that all members can get involved in the conversation. Also, as we enter the holiday season we will likely be phasing out of some of our trading. The WPFX account will be dropping down to just one or two pairs at risk level one and we will likely do the same with the Tradency accounts.

Dustin

Dustin

I appreciate you've entered this area and tried to explain things.
I do appreciate your attitude towards clients and prospects, e.g. webinars, video presentation, post-buy treatment etc.

However....

In my opinion, your product hasn't been developed for sales yet. It brings bad results, and both my accounts can prove it.

Account #1 - test started Nov 3rd. Initial deposit 100,000. Same trading pairs as your real account here, same risk, so total RL = 8. Hedge function on. No manual intervention. I said to myself: '8-12% monthly is excactly what I'm looking for, I don't change anything here'
Over 3 weeks demo test and here are the results:
Balance: 22,500. Equity: 7,200. DD: -15,300.
ARE YOU SAYING THIS IS OK ??? So, I'd like to see your face if somebody's EA would wipe off 93% your money !!

Account #2 - Test started Nov 6th. Initial deposit 10,000. RL = 6 (1 pair at 2%, 4 pairs at 1%). I said: 'Ok, let's try less risky version'
Results of today: Balance 1,500. Equity: 7,600, DD: -18.900. A week ago I had Margin Call here.
ARE YOU SAYING THIS IS OK ??? Is 85% equity loss the result you are looking for ???

TOM'S EA IS NOT READY FOR SALE YET. IT STILL NEEDS MUCH WORK TO IMPROVE RESULTS.

Please, don't fool people.

PS. If you arre interested in looking at my results, please drop an email.

I would very much like to see the trade reports. That does not make much sense at all unless you are trading the wrong lot size which can occur if you do not have micro's. We warn about that in the welcome email, on the first page of the members area, in the quick start guide, and in the best practices section. I am not sure what else could have led to you losing 80 or 90 % of your account. Please send your report in to our support staff or post it here as an attachment. Obviously the account that we have on this site which is in public view never experienced a draw down close to what you are suggesting and its balance is very similar to the 22500 test account you have used and until this week was at a total RL of 8. We recently decreased this by 2 in preparation for the holidays. It seem in all likelihood that you are not implementing the EA properly however I will hold my final analysis until after I see the report.

Dustin

I do assure you I did everything you have recommended during the first video presentation.
There are other people here who face against same problems - big DDs, equity losses, margin calls.

I've mailed you all trade reports on both accounts.