Cast Iron Man Discussion

Hi Steve,
Why do you hide your results? Everyone can see them on the Auto trade (Tredency or elsewhere?)

Good question!
Er, no idea.
Should be able to see them now.

I mean your history and open trades.

I guessed that, should be there now, all open and honest and what not!

Now, I can see them. Thanks a lot. And I opened a demo account at Tredency. But as far as I know there is a lot problem Auto trade. They don't let less than 10 lot. I can't manage my lot size. And It should be very risky for me. For this reason I can't open a live account. Isn't it possible to use Cast Iron man seperately. And I know what you think about Zulu trade but Zulu Trade let people open even a micro lot which is very useful for followers.

I don't trust ZuluTrade, sorry. They cost my friend 16% of his capital in one trade. Where your money is concerned you need 100% cast iron reliability ( see what I did there !).

The least that you can trade Cast Iron Man with on a decent level of risk is about £2000. This would involve 0.1 or for some cases higher lot sizes. You can trade this at Tradency, 10 lot in their case means 0.1 of a standard lot.

I may release Cast Iron Man to the markets eventually but it would not be until I have at least 12 months of live trading to support it's sale.

Thank you. After I see the results of my demo account I will decide. Take care.

Dear Steve,
I have been following your EA since yesterday. I want to tell you which systems I am following nowadays.
1- Pipsminer: It is past performance was very good. And Since I have started trade with it results are very good.
2-I have just enrolled Paydayforex. They send signals. The signals affect directly your MT4 platform. Their results seems good. Their signals come from profecional traders.
3-There is another signal provider called signal-forex.com. Their results are perfect. But very diffucult to follow them. They are trying to develop an auto system nowadays.
4-I have been also waiting a news from proforexsignals They are from London.
5-And finally a zulu signal provider. System FX Live who use an EA. His results are excellent. This EA comes from https://www.onix-trade.net/?act=monitoring_stat&xid=8809
If one can solve the behind of secrets of these systems can be success very much. All of these systems are profitable. Why I told you all of this. May be you know some of them but may be you want to know some systems. As I undestand you are a developer of EAs. In the future I also want create an EA. But not now.
I have an another experience about a signal provider called firepips. He used to give his signals free until last week. He has got lots of followers. And his signals are quite well. What he did. He started to sell his signal. It is a good way to encourge people to buy the signals. You say that you are going to release Cast Iron Man. I think if you release it with this way it shoul be very popular in the world. Than you can sell it easily.
Another topic is people put their results on Myfxbook but they hide them like a very big secret and don't share their experience (but you share thank you). I don't understand why they put their trade results here.
Take care

Thanks for sharing these various suggestions. I will look into them and see if there is anything I can use. I like to keep a diversified portfolio of strategies as I think that is the best way to make money.

I do indeed develop EA's, if you have any interest in this then please feel free to get in touch and I can pass on some tips.
I was following firepips, in fact a friend and I were very close to an EA that took his trades from twitter and raised them in an EA just at the point where he took it private and then I missed joining!

Thanks for your compliments with regards to Cast Iron Man. One day I may well release it, let's see if it's still performing after 12 months of live trading.

Hello Steve,
As I said you before I follow you from auto trader with a demo account. Today there was a GBPJPY trade closed -74 pips but I can't see this trade your Myfxbook history.

I'll look into it, sometimes there are differences though as the account that feeds Tradency is a demo FXPro account. Sometimes that account raises trades that don't get raised in the live account and vice versa.

Okay I've checked and it was as I suspected the live platform did not raise the order when the demo one raised it. FxPro have been messing about with the live account, I've been getting misquotes and disconnections. I think they know how the robot works and are doing their best to stop it raising the orders they think have a high probability of success. Since GBP/JPY has been on a good run for the robot recently they're probably targeting that pair!

I am in the process of opening an MB Trading account. Once I have done this I will transfer my live trading over to there.

Your system sounds interesting, I read you section on tradency. Is this a system that might work better on a more honest broker?

Thanks Brandon, it certainly would.
I've just opened an account with MB trading which I will be funding this week.
From May onwards I will be putting both CIM version 3 and CIM version 4 on it and they're going to have a little competition to see which is the better!

Do I need to sign up at MB trading to follow the progress or will it be posted here? I'm really interested but am still new to forex, I would like to stay with my current broker Gain Capital, as they have built a little trust from me. I notice MB has a lot smaller spreads on their website, is this essential to make your system work?

Hi Brandon,
All progress is going to be posted here. I'm actually having to rethink MB Trading as I've just realised that there is a chance if I ran both robots on the same account that I could end up with two opposite trades on the same currency, which would be construed as hedging. As US brokers don't allow hedging it looks like I'm back to square one with looking for an ECN broker I can run this on.

From an investment perspective, broker is completely independent. You would just need to use one of the brokers that Tradency has a relationship with. However, the better the spread, the better the performance.
Steve

I've decided to stick with FxPro on this account for several reasons.

1) It's only an account testing/demonstrating the ability of Cast Iron Man. As such using it with a middle of the road broker will demonstrate that it can be profitable even without using the best brokers. Not everyone has the finances to open an account with some of the better brokers.

2) I've built up six months of live trade history which I am loathe to let go of. If I do at some stage decide to market this robot it will be with live trading history to back it up along with the backtest results.

3) I did open an account with MB Trading but from next month I will be pitting Cast Iron Man version 3 against the new version 4 of the robot on the same account. There was a small chance that the two robots could end up in what could be considered a hedged position due to the nature of the orders raised. So I can't go ahead with that. So, I've upped the funding on the account and from next month I will split out by Magic Number to show the two versions. So far this month version 4 is slightly ahead but it's going to be a photo finish I think.

Steve

I don't see on the fxpro website where they have managed type accounts like tradency (maybe i'm over looking it) If that a situation where you would do a manged account using this system?

Hi Brandon,
FXPro don't deal with Tradency and to be honest, if I was starting this from scratch I would not use FxPro. As I already had an account open with FXPro when I started the live test I used that to make life easier :)

The performance of the robot is indicative of the kind of performance you would expect from your typical middle of the road bucket shop broker.

I have had people ask about managed accounts previously on my blog and I have considered the idea but I would need to generate a certain level of interest before I set that up.
Steve