Forex Real Profit EA-7 Discussion

may I know which version are you trading in your account ? I download the version 6.03 and demo on FxPrimus I have few loser when you have winners.

Dear hagenuk,


Maybe because you are using FRPEA version 6.03.

We fixed a bug in FRPEA v6.03 regarding News Filter and we announced it on our Forum about the update (version 6.04) on Friday (April 13, 2012) also.

You will find it on our Forum on Download section.

We run FRPEA version 6.04 for the last week and a half on this account.

To prevent any error use the following installation steps:
- remove version 6.03 from all (11) charts
- close the MetaTrader 4 platform
- delete the old frp6.dll version from the C:\Program Files\ Your Broker MetaTrader 4\experts\libraries
- unzip the ForexRealProfitEAv6.04 archive
- copy the ForexRealProfitEAv6.04.ex4 file in the C:\Program Files\Your Broker MetaTrader4\experts
- copy the frp6.dll in the C:\Program Files\ Your Broker MetaTrader 4\experts\libraries
- start the MetaTrader4 platform
- drag the ForexRealProfitEAv6.04 on the charts

Please make sure you have no open trades when installing.

Kind Regards,
ForexRealProfitEA Team

Hi,

1.I see that this version trades 11 pairs.Is it possible that ea will have 11 trades total open at the same time ?

2.How many pips is the worst possible stop loss ?

3.Can ea have more than 1 trade open in the same currency pair ?

4.What are the GMT hours that this ea opens trades ?

   Star posted:
   Hi,

1.I see that this version trades 11 pairs.Is it possible that ea will have 11 trades total open at the same time ?

2.How many pips is the worst possible stop loss ?

3.Can ea have more than 1 trade open in the same currency pair ?

4.What are the GMT hours that this ea opens trades ?

Dear Star,

1. I see that this version trades 11 pairs. Is it possible that ea will have 11 trades total open at the same time?

Theoretical yes, but practically is almost impossible.
There are 4 different strategies and 11 currencies with average time of closing for 3 hours. Usually different pairs offset each other.
It never happened in our backtests and I don't think it's possible in real trading.

2. How many pips is the worst possible stop loss?

The Stop Loss is set to 100 pips plus the spread of the currency used.

Stop Loss and Take Profit defines the maximum value in pips when the robot will close a loosing or winning position
ForexRealProfitEA uses a dynamic Stop Loss and Take Profit algorithm.
Not all losing position will be closed on Stop Loss and not all winning positions will be closed on Take Profit.

Here are some details from our tickdata backtests (using Dukascopy history database) for the last 5 years, using real spread and 0.8 pips (broker) commission:
Testing results:
Total pips lost = 69.957 pips
Total pips won = 112.551 pips
Net gain = 42.594 pips
Winner % = 75 %
Loser % = 25 %
Profit Factor = 1.57
Average win = 13.79 pips
Average loss = 25.79 pips
Max DD = 1179 pips
Average time/trade = 3.23 hours


3. Can ea have more than 1 trade open in the same currency pair?

In very rare occasions there are max 3 trades for the same currency in the same time.
Not all currencies use all strategies, so there are only few than can open 3 simultaneous trades.

4. What are the GMT hours that this ea opens trades?

The new version (FRPEA v6.04) uses 4 different strategies, 2 for scalping on Asian session and 2 for scalping on trend all day.


Kind regards,
Adrian.
ForexRealProfitEA Team

Thanks Adrian for you detailed reply.

1.The results of the backtest you mentioned in your reply is this a result of the merged backtest for all pairs and all strategies ?

2.With what risk setting was this backtest run ?

3.What was the worst relative drawdown ?

Dear Star,


1. The results of the backtest you mentioned in your reply is this a result of the merged backtest for all pairs and all strategies?

Yes.

2. With what risk setting was this backtest run?

Default risk for all currencies: 2%.

3. What was the worst relative drawdown?

At a 2% Risk Percent for each pair, annual average profit is 170% and maximum draw down is 34%. The calculated average is for the last 5 years.
We calculated the risk so that if we lose two times more than the historical maximum draw down, using money management, total loss does not exceed 50% of the account.

4.
We are making available a free demo version of our expert advisor that you can use for tests on demo accounts only, with any broker you might choose.
This demo version can be accessed freely in the Forum, in the Downloads section, after you register with a valid e-mail address.

You will find all the info, including all the backtest details there.


Kind regards,
Adrian.
ForexRealProfitEA Team

Thanks Adrian again.

With what risk setting are you running this account on Myfxbook ?

Dear Star,

We use FRPEA v6.04 and the default risk of 2% for this account.

Kind regards,
Adrian.
ForexRealProfitEA Team

Hi Adrian,

I'm very interested by your Robot and I just started testing it on a Demo account. I have a couple of questions:

1. Do you recommend a particular broker?
2. Does the base currency of the account matter?
3. I have the Robot running on the EURUSD pair only. Should it run on multiple pairs for better performance? If yes does it need the 11 currency pairs?

Thanks for your help!

Wip

This account is not updating.Can you please fix it ?

Thanks

Dear Wip,

1. Do you recommend a particular broker?

We recommend only ECN brokers.

Our first choice would be Pepperstone (Razor account).

Other options would be:
FinFX (ECN account), FXOpen (ECN), HotForex (Currenex), SynergyFX.

A good broker (with low spreads) and a cash back system (recover a part from the money paid to the broker as a Spread or commission) can increase the profit by 30%.

You can make a live forward test on few preferred brokers on demo accounts to see which one is better. The differences are visible on demo accounts also.

2. Does the base currency of the account matter?

The base currency shouldn't matter.

3. I have the Robot running on the EURUSD pair only. Should it run on multiple pairs for better performance? If yes does it need the 11 currency pairs?

You can use any pair you want.

Each pair has good periods and bad periods. All pairs are profitable in the long term and used together generate a constant gain and a moderate draw down.

We believe that diversification is the safest method of investment, so we prefer to use as many pairs as possible, of course, proved that they are profitable in the long run.


Thank you for your interest.

Kind regards,
Adrian.
ForexRealProfitEA Team

Dear Star,

We sent a message to Myfxbook support team regarding this problem.
It should be fixed soon.

Kind regards,
Adrian.
ForexRealProfitEA Team

Hi Adrian,

Thank you for your prompt answer! I have setup two tests accounts on 6 currency pairs using your EA.
One with an ECN broker the other with a normal broker with the invisible mode on.

Can you also confirm if in this account you have set the 'avoid news' setting to true ?

I see that ALL currency pairs are in state:

'Recent or upcoming news detected no new position will be opened'

It has been like that for the last couple of hours. Can yo confirm this is correct?

What also confuses me is that some Pairs (ex USDCAS & EURGBP) have the 'Trade session' as closed whereas others (ex EURCHF & GBPCHF) have the 'Trade Session' as open. To what is that linked? I guess not to the news ?

I'm really new to all this so I'm sorry for my 'basic' questions. Hopefully this will help other newbies 😄

Thanks,

Wip

Dear Wip,

1. Can you confirm if in this account you have set the 'avoid news' setting to true ?

Yes, we use the default settings an AvoidNews set to 'true' on this account.

2. I see that ALL currency pairs are in state:
'Recent or upcoming news detected no new position will be opened'
It has been like that for the last couple of hours. Can you confirm this is correct?

Yes.

About AvoidNews:
When set to 'true', AvoidNews stops the trading if high impact news are detected one hour before or one hour after a trading signal occurs. In other words, if high impact news is detected between 21:00 and 22:00 GMT no trades will be opened that day.
For example, if at a given day high impact news occurs at 20:15 GMT and ForexRealProfitEA has a trading signal at 21:14 GMT that trade will not be opened. On the contrary, if it has a trading signal at 21:16 GMT the trade will be opened because it has been one hour and one minute since the high impact news.

3. What also confuses me is that some Pairs (ex USDCAS & EURGBP) have the 'Trade session' as closed whereas others (ex EURCHF & GBPCHF) have the 'Trade Session' as open. To what is that linked? I guess not to the news ?

FRPEA v6.04 uses 4 different strategies, 2 for scalping on Asian session and 2 for scalping on trend all day.
Not all 11 currencies use all strategies, that's why there are differences between currencies regarding their trading time.

Each pair has good periods and bad periods. All pairs are profitable in the long term and used together generate a constant gain and a moderate draw down.
We believe that diversification is the safest method of investment, so we prefer to use as many pairs as possible, of course, proved that they are profitable in the long run.

You will find more details of how each currency performs on long term on our Backtest_Details PDF file.

4. I'm really new to all this so I'm sorry for my 'basic' questions. Hopefully this will help other newbies.

It's better to ask first if you have little experience.
Only trading real money on long term on forex can make you an experienced trader.
We learned from our mistakes too.
You can't win with a bad strategy, but you can lose with a good strategy if it's misused and experience can help you to take better decisions...

Kind regards,
Adrian.
ForexRealProfitEA Team

.

Hi Adrian,

I'm running the EA on two different accounts and six pairs. One ECN broker (PepperStone) with the Invisible mode to 'False' and a Standard Broker with the invisible mode to 'True'. Interestingly their trading results are very different.

Would you like me to make those portfolios public ?

Best Regards,

Wip

Dear Wip,

Yes, there are big differences between brokers, especially between MBTrading and Pepperstone (in our case). That is because the differences between the price feed, the spread and the commission. The spread is included in the robot code and it is used as an indicator.

We made a backtest with our jforex version of the robot on Dukascopy and the backtest result was almost identical with Alpari UK, better then MBTrading and worse than Pepperstone, that means that Pepperstone account is doing better than the backtest results...

Regarding MBTrading, I don't know if that's a rule, but as I see on FPA brokers reviews, old and famous brokers tend to worsen their services over time.

We just started a live test on demo accounts on our preferred brokers, to see which one is the best for our robots. The brokers are: FinFX (ECN account), ATCBrokers, HotForex (Currenex account), Oanda, FXOpen (ECN account) and Alpari UK (Spread Betting account).
The differences are visible on demo accounts also.
The statements will be published on our forum by the end of this month.

Ultimately, we are here to make profit trading on forex and not to trade with a specific broker. So if there is a broker with better results than other, why not chose the better one?


Yes, you can make those statements public, there is no problem with that.
It is important though to use the default settings, or, well, without much deviation from these settings and all 11 currencies.
And it is important also to run MT4 platform on a computer always connected to the Internet or on a VPS. If the robots are stopped during the day, or if they are interrupted while the market is open, the test is irrelevant.


Kind regards,
Adrian.
ForexRealProfitEA Team

is it verion 7?

I mean updated to version 7 or is it v.6