Tom'sEa WPFX LIVE (By TomsEaWPFXlive)
The user has deleted this system.
Tom'sEa WPFX LIVE Discussion
Nov 10, 2011 at 02:14
lobotomy8 posted:
I'm testing it since Monday (3 days) on demo.
Initial capital: 100,000
Today: Balance is 181,000, draw-down 95,000, so equity is 86,000 = 14% loss !!! Crap, rabbish
First of all... if you are using the EA properly it is imposable to make 85,000 in 3 days and certainly imposable to have a draw-down of 95,000 in 3 days.
RTFM!!!!
Nov 10, 2011 at 04:37
flopps posted:
lobotomy8 posted:
I'm testing it since Monday (3 days) on demo.
Initial capital: 100,000
Today: Balance is 181,000, draw-down 95,000, so equity is 86,000 = 14% loss !!! Crap, rabbish
First of all... if you are using the EA properly it is imposable to make 85,000 in 3 days and certainly imposable to have a draw-down of 95,000 in 3 days.
RTFM!!!!
I don't mean to be argumentative, but this is the kind of result i have been getting. I am using minimum risk on all 6 pairs. I have it running on an account with about $56,000 and my drawdown is $19,000. Since Nov 1st, it has made $6,000.
Make losses, but always come out a winner at the end.
Nov 10, 2011 at 05:54
First of all....how can you know what's happening on my account ?? Do you know better my figures ??
flopps posted:
lobotomy8 posted:
I'm testing it since Monday (3 days) on demo.
Initial capital: 100,000
Today: Balance is 181,000, draw-down 95,000, so equity is 86,000 = 14% loss !!! Crap, rabbish
First of all... if you are using the EA properly it is imposable to make 85,000 in 3 days and certainly imposable to have a draw-down of 95,000 in 3 days.
RTFM!!!!
Exact figures this morning: balance: 184,210; draw-down: 92,740; equity: 91.470; loss: 8,5%.
I am using it very properly - trading 4 pairs at 2% risk. Same pairs and same risk as developer's account. No manual intervention
EA starts to increase lots, it started with 2.0, turned to 2.5 now. We will see, I plan to test it 15-30 days.
Member Since Dec 31, 2010
5 posts
Nov 10, 2011 at 19:18
Please can I have a copy of the EA for a test, I will like to test too
Never fight the trend and fundermental.
Nov 14, 2011 at 13:10
TomsEaWPFXlive posted:
Interestingly enough if people follow the instructions properly they would see that the system produces results - Not fake - This account is live as are many other accounts that have set up their EA properly. The EA does need to run at all times when the market is open. Since most people are in the forex market to 'get rich quick' they don't take the time to set things up properly and lose all of their money. If you look at the history of this account you will see that it does take losses once in a while to keep it from getting into too much DD, but the overall result is that it makes more than it loses. This EA is for those that want to have long term growth in the forex market and is not the answer for those that want to 'get rich quick'. I didn't bring this to market to make a bunch of money from people buying it. As you can see this makes money for me already.
Good luck in your search to find what you're looking for.
'Tom'???? - I think that rather than just say that people can't follow instructions what is actually needed is full disclosure.
For example, you need to publish the 'Open Trades' tab as well to remove the 'mystery'.
Also, by your own admission on the Q&A page you said that you jacked up the 'lots' at one stage that caused a big spike in profit.
I guess what people are really asking is how does a 10k account make 117% in such a short period when if you followed even the 2% risk model you talk about then its not possible???
Personally I tested from the day it was released using the lowest possible risk settings, ie; 1% and after about 2.5 months it made 11% at the time you closed off access with 39 trades still open - so that would be 39% at risk which was pretty much constant throughout the trading period - I think it dropped to around 30 at one point. One of those trades has been open since 04 Oct. Just before access was shut off it closed out a couple of older trades.
The 'Open Trade' balance varied from as low as -3% to as high as -20% throughout the period. It appeared to have a fortnightly cycle where open trade balance plummets and then claws it back over the following week.
So, full disclosure will win you a lot of votes - cloak and dagger only raises suspicion.
Oh yes, my test was on a server that never lost contact.......
Cheers
:)
Member Since Sep 12, 2009
313 posts
Nov 14, 2011 at 19:34
agree with you Can
forex_trader_18838
Member Since Sep 23, 2010
4 posts
Nov 15, 2011 at 12:03
i agree too.
i have seen so much other ea's performance looking good, but all they hide their open trades.
only full visibility will get trustness. otherwise it seems there is more to hide than open trades...
i have seen so much other ea's performance looking good, but all they hide their open trades.
only full visibility will get trustness. otherwise it seems there is more to hide than open trades...
Nov 15, 2011 at 13:22
Hi, there is my update:
Account #1, test period 2 weeks, opening balance 100,000, 4 pairs x 2% risk = 8% risk. Results: balance 202,000, DD: -112,000, equity: 90,000, equity loss: 10%. Today EA opened 1 trade sized 13.4 lots (!), probably to cover drawdown, but this attempt failed, the position was closed with huge loss
Account #2, test period 1 week, opening balance 10,000, 1 pair x 2% risk, 3 pairs x 1% = 5% risk. Results: balance: 15,000, DD: -6,000, equity: 9,000, equity loss: 10%.
This EA is a sort of dangerous toy, I can't imagine what's going on if you set up the risk to 3%.... It's very stressing when you see many trades opened that turnes to negative and stay there
Account #1, test period 2 weeks, opening balance 100,000, 4 pairs x 2% risk = 8% risk. Results: balance 202,000, DD: -112,000, equity: 90,000, equity loss: 10%. Today EA opened 1 trade sized 13.4 lots (!), probably to cover drawdown, but this attempt failed, the position was closed with huge loss
Account #2, test period 1 week, opening balance 10,000, 1 pair x 2% risk, 3 pairs x 1% = 5% risk. Results: balance: 15,000, DD: -6,000, equity: 9,000, equity loss: 10%.
This EA is a sort of dangerous toy, I can't imagine what's going on if you set up the risk to 3%.... It's very stressing when you see many trades opened that turnes to negative and stay there
forex_trader_18838
Member Since Sep 23, 2010
4 posts
Nov 15, 2011 at 13:48
i think, thats enough. its a black box system and who wants to use an ea that at any day it uses a much higher lot size and probably blow out your accout... iam done
Nov 15, 2011 at 15:56
There are enough new and hopeful people in the market that they will sell plenty of copies. My test account is currently up by about $20k and the drawdown is about $21k. How bad of a drawdown can you get??? From my experience, martingales drawdown alll the way.
Make losses, but always come out a winner at the end.
Member Since Sep 12, 2009
313 posts
Nov 15, 2011 at 16:12
AGREE with you all,owner as to allow users to choose lots
Nov 15, 2011 at 21:59
fughe posted:
There are enough new and hopeful people in the market that they will sell plenty of copies. My test account is currently up by about $20k and the drawdown is about $21k. How bad of a drawdown can you get??? From my experience, martingales drawdown alll the way.
I think the same. So, when and how this story ends up ?
Nov 16, 2011 at 00:34
Well, I finally decided to kill the EURJPY pair. It looks like we are in for a few hundred more pips to the downside and it started opening some big lot sizes far too closely spaced. So, I bit the bullet and killed the trades. Altogether, the loss was in the order of about $15,000 on the EURJPY pair ONLY.
Some of those trades were in excess of -600 pips.
So......one month.....all 6 pairs gained $20,000 and one pair that started trending strongly wiped out $15,000, and it would probably have been much, much more if I had let it run.
Please be exceedingly careful if you run this system. Use the absolute lowest possible risk you can if you are going to use it!!
Final note....make sure you are prepared to lose ALL of the money in the account you put it on. Martingale systems are well known for blowing accounts.
Some of those trades were in excess of -600 pips.
So......one month.....all 6 pairs gained $20,000 and one pair that started trending strongly wiped out $15,000, and it would probably have been much, much more if I had let it run.
Please be exceedingly careful if you run this system. Use the absolute lowest possible risk you can if you are going to use it!!
Final note....make sure you are prepared to lose ALL of the money in the account you put it on. Martingale systems are well known for blowing accounts.
Make losses, but always come out a winner at the end.
Nov 16, 2011 at 00:39
Also, i would like to add......DO NOT fool yourself into thinking that you will let it run and watch for it to keep it from getting into a big drawdown. Martingale systems are well known for getting into big drawdowns before you realize how bad it actually is. By the time you realize that the market is in a hardcore trend, the DD will already be half your account. New traders....you have been warned.
Make losses, but always come out a winner at the end.
Nov 16, 2011 at 15:41
fughe posted:
One other thing, minimum risk is apparently using 1:1 leverage. i say that because on a $40,000 account, it is opening 0.4 lot positions
Not exactly, it is true probably up to 100,000 account. After that it increases lots, e.g. for the account of 200,000 it starts trading with 2.4 or 2.5 lots. I'm talking about 2% risk set up. Fughe, you probably mentioned 1% risk, didn't you ?
Nov 16, 2011 at 15:46
lobotomy8 posted:
fughe posted:
One other thing, minimum risk is apparently using 1:1 leverage. i say that because on a $40,000 account, it is opening 0.4 lot positions
Not exactly, it is true probably up to 100,000 account. After that it increases lots, e.g. for the account of 200,000 it starts trading with 2.4 or 2.5 lots. I'm talking about 2% risk set up. Fughe, you probably mentioned 1% risk, didn't you ?
Yeah....that's where the 'minimum risk' statement enters in. 😀
Make losses, but always come out a winner at the end.
