wfl014d1 diskuse

I going to raise fund in testing this EA in real money account. Anybody would be interested in becoming the sponsor of the testing?

If it can prove the same result in real money trading, it will be offered to public via managed account.

Sounds good, how much are you looking for to start? Do we split the profit? Any paperwork needed? Do you have any backtest results to show?

Hi Philppe,

I am currently looking for USD1K funding to start a live account for prove. Here is my thoiugh which I would like to share with traders:

Same as other traders, I spent a lot of money to buy commercial EAs for testing. Frankly, almost 80% of them don’t work. The remaining 20% may work on demo, only 5% of them may work in real account (for certain period of time may be...). It is because in real trading, we have to take into account other factors such as requote, liquidity, spread and efficiency of broker’s live server. That may explain why most of the EA sellers are hesitate to show people live real trading result (or even live demo result). This really ruin the forex autotrade industry.

I am working in University and believe that my research on profitable autotrade system can be conducted in a similar way that Unversity is doing. In most countries, government and enterprises are willing to sponsor the University conducting researches. Of course, there is no guarantee that the research result is fruitful. Nevertheless, they are still willing to sponsor the University for doing researches because the findings (no matter positive or negative) must have certain value. If the finding is positive, it will create value to the public and deliver economic benefit to the society.

Here is my view….I run my lab and spend time to develop and research for good EAs (either commercial or free, private or self-developed). I bear the running cost and share demo testing result with the public. On the other hand, I also look for sponsors and raise fund to test potential EAs in real money account. If I can prove that the real testing is successful, I will offer it to traders through managed account arrangement. I think this is the best way that EA seller/developer should work with traders/investors. I believe that many traders like me has spent thousands dollars to buy crap EAs and loss even larger sum from trading on them. It will be more cost effective if we work together and run the real testing.

May be you will prefer buy EA and trade with them on your ownselves. However, we must realise that our capital is limited.

Please consider if this sounds sensible to you. Any comments are welcome.

Cheers,

Wallace
Wallace Forex Laboratory

you can always find a broker that allows $10 to be treated as $1K with nano lots ... no need to look for victims here ...

If you are looking to offer the product commercial afterwards it makes no sense to trade it on 10 dollar account since you are not looking for 10$ investors, but people with sensible amount (even 1k is too low, but as a proof of concept it will do), regardless contact me by email or pm and we shall continue this discussion.

Hi Duzyfx and Philippe,

Thanks for your comments. I would like to receive more comments (no matter positive and negative) from traders regarding my thought. There are several points I would like to emphasize:

1. I am honestly look for the best way to run my forex business. I can sell this EA for a high price by just showing live demo result for certain period. This is what most EA sellers do nowaday. I think a real money testing is necessary for proof.

2. My capital is limited. Frankly, I bear my time to run the test and pay the running cost. I try to show my finding in demo to the public. I going to sell anybody by saying that this EA performs great in backtest and live demo test and sell it. Of course, I can do it. I already receive many offer. But the main concern, as I said above, is demo result is often different with live result. If an EA works that great in live result, why people would like to sell it? The best way is to offer it to public through managed account arrangement. In that way, both the traders and EA owners can earn long-term profit.

3. I really don't understand why people is willing to risk a hundred or thousand dollar to buy EA without real money testing result but is reluctant to spend small amount to sponsor people to show them proof and verified result.

4. My ultimate goal is not to collect the donation and run away. What motivate me is to earn long-term profit from managed accounts.

Dear Philippe, I will send you PM later. Thanks!

Comments from other traders are welcome!!!

Kind regards,

Wallace

Hi Wallace,

Like I said before, I will sponsor a live account for you

Hi Billiboys,

Thanks for the support. 😄

Kind regards,

Wallace

Start from this week, we will use a more prudent risk setting. The EA's performance is great so far in demo test.

We're going to test this EA in live account soon and offer managed account service through MAM platform. PM us if you're interested. 😄

Wow !! Impressive ROI for this EA, so you already buy this EA ? Look like 'High Gain No Risk' EA strategy method.

Does it need to open at certain broker to work ? So this EA is not open in market for commercial ? Where you find it ?

I think Wallace writes his own EA's

Hi ForexSeeker and Steve Boardman,

Be honest, this EA is not originally written by me. However, I made some improvement on it based the demo test performance.

I must emphasize that this EA is not a 'High Gain No Risk' EA. I don't beleive that there will be an EA without risk. Like most scalping EA, it can be risky if there is extreme market movement. Just like on 18 Feb 2010, the FED suddenly adjusted the discount rate which made EURUSD dropped drastically. You can see the big drawdown in Feb (also my setting was too aggressive at that time).

This EA is not for sales. It will only be shared via PAMM or MAM subject to the real test result. The good thing is this EA scalps EURUSD which have tight spread and high liquidity.😄

I just did a 10 years backtest on it. If you're interested, please have a look

https://www.wallaceforexlab.com/index.php?opticom_content&view=article&id=444&Itemid=245

By the way, it is just a demo test. I am now inviting sponsors to join the real test. if you're interested, feel free to PM me.

Kind regards,

Walllace

A crazy drop of EURUSD this morning. This is a good proof that this EA is not 'High Gain No Risk' 😁

But this is forex....my real test will use a much more conservative setting. Let's see how it will go.

From the pattern of balance report.

I can said that the scalping is the type of : Xbar, FXzapper, Shocker, Dragonpips, EAKAIN Scalper, Donchian MA Scalper, FxBrokerBuster.

The tactic is scalping using Risk20 , Reward Risk ratio 10:70.

But your data history show extreme scalping with 1.2 pip and 10 pips take lose, and do not have a fix pattern of scalping risk reward ratio. So is it because manually change the ratio or the EA automatic select ?

Hi ForexSeeker

You're partially correct. I haven't tried that above EAs but I can say this EA is different from them.

It use scalping plus hedging strategy. I didn't intervene the EA but would disable it when there was high impact news.

Account diabled by Alpari UK. We set up a new demo with GoMarket for continued testing. GoMarket is a STP broker which should be good for this EA.

New Demo: https://www.myfxbook.com/members/Wallace/wfl014d4/33736

finally every EA will crash, how would this work, everyone is using an EA an gaining millions? if those EA's would really work, forex wouldn exist anymore.