Tom'sEa WPFX LIVE (de TomsEaWPFXlive)
Lutilisateur a supprimé ce système.
Discussion Tom'sEa WPFX LIVE
Membre depuis Nov 06, 2011
posts 181
Jan 27, 2012 at 15:22
GlobalProfit posted:
For those of you that are not comfortable with draw downs you may want to just tone it way back and shoot for just 5 or 6 percent a month. Doing this would allow you to set it and forget it much easier and would keep your stress levels a little lower while still being able to see a really good return in the long term.
Fair point.....
Jan 27, 2012 at 16:37
tradingshed posted:
GlobalProfit posted:
For those of you that are not comfortable with draw downs you may want to just tone it way back and shoot for just 5 or 6 percent a month. Doing this would allow you to set it and forget it much easier and would keep your stress levels a little lower while still being able to see a really good return in the long term.
Fair point.....
Hi Globalprofit
I started with an equivalent of $3500 and this is what I have been doing so far. Everything as been fine averageing 8-10% apart from Dec at 5%. This month i'm just over 7%, however I hate to say it, but it looks like at the moment this drawdown on the eur and gbp will wipe my account out unless there is a drastic turn. Followed advice from support all the way with eur on setting 2 and gbp on one after checking with support.
On hindsight, i think you realy need $10k minimum for Toms ea in order for the DD not to bother you. Obviously I'm sticking with it but will have to see how the market pans out
Membre depuis Oct 05, 2011
posts 60
Jan 27, 2012 at 17:40
(édité Jan 27, 2012 at 17:55)
Hi Globalprofit
I started with an equivalent of $3500 and this is what I have been doing so far. Everything as been fine averageing 8-10% apart from Dec at 5%. This month i'm just over 7%, however I hate to say it, but it looks like at the moment this drawdown on the eur and gbp will wipe my account out unless there is a drastic turn. Followed advice from support all the way with eur on setting 2 and gbp on one after checking with support.
On hindsight, i think you realy need $10k minimum for Toms ea in order for the DD not to bother you. Obviously I'm sticking with it but will have to see how the market pans out
I will discuss this with support. Its possible they were simply telling you what their personal comfort level is. The only reason I say that is because in the members area we urge people to use RL 1 under 4500. I have copied and pasted the exact breakdown below.
Max Risk Levels
The table below outlines the max RL for the corresponding account sizes.
$1000 - $4499 = RL1
$4500 - $5499 = RL2
$5500 - $6499 = RL3
$6500 - $7499 = RL4
$7500 - $8499 = RL5
$8500 - $9999 = RL6
$10000 - $11499 = RL7
$11500 and up = RL8
This is a copy and paste from the best practices tab in our members area. In addition to this we also go on to say...
'They are a MAX level. Be conservative and you will decrease your overall risk of loss. If you are using a low leverage account of 50.1 or less you will want to stay on the lower side of these guidelines.'
Im not saying you have done anything wrong. I just want to make sure people understand that there is risk even within these guidelines and point out that you were above these guidelines by a factor of three if you were at a RL3 and you just need to understand that by exceeding the guidelines you take on additional risk. I have a variety of accounts that i trade and they range in risk. I have two accounts in particular that have about 8k in each of them and I trade both of them at a RL of 2 and that gets me about 5% a month and I have never experienced a draw down that concerned me. Keep in mind that since the minimum lot size is .01 that under 10k the drawdown per RL will be the same dollar amount no matter what your account size. So if you are at RL 1 and have 10k and see a 600 dollar draw down . Everyone else trading with 10k or less and using rl1 will have a similar drawdown even if they have a 3k account. Obviously a 3k account is going to be a larger percentage drawdown so it would impact that account more. I hope this explanation assists everyone in choosing a Risk Level. This information was in the old members area and has already been placed back into the new members area as well. I hope that we see the market turn soon for the sake of many and that this will serve as an illustration as to why its important to stay on the conservative side. Especially considering the long term affects that Toms EA can have even at 5 and 6% returns if left untouched. Its worth it to stay in the game for the big prize rather than trying to hit a home run.
Membre depuis Oct 05, 2011
posts 60
Jan 27, 2012 at 17:46
I meant to mention that leverage plays a big role here. For those using more leverage you obviously have more freedom but for those in the US in particular who are using 50.1 you will want to make sure to stay within the guidelines and head the warning that is posted.
Dustin
Dustin
Jan 27, 2012 at 23:26
Glad we have this live system's records on myfxbook...
so the actual proof speaks for itself, and more would survive and progress towards the path of doing what we love, step by step....
the main issue for the start is to get the systems set-up like TEA's live account.
Once that's all figured out, we pretty much need to just let TEA do the thing it does best, and check back this place often enough.
There on, we would spend less on crappy stuff that fakes others out and still able to be a decent person on mother earth :)
so the actual proof speaks for itself, and more would survive and progress towards the path of doing what we love, step by step....
the main issue for the start is to get the systems set-up like TEA's live account.
Once that's all figured out, we pretty much need to just let TEA do the thing it does best, and check back this place often enough.
There on, we would spend less on crappy stuff that fakes others out and still able to be a decent person on mother earth :)
Jan 27, 2012 at 23:49
GlobalProfit/Dustin,
Can you please get it together with your dev/support team !
I have received another support email from Ivan G, Ticket ID: TZV-796420 saying there is,' Something definately not right' when the EA opens 1 lot, 100K, risk=1, mini account. He says the, ' EA might be stuck or return some dummy value'
There is serious conflict of information with what you say and support says. Check it yourself please
You have to choose one option, and then tell your support team to communicate it properly to your customers ! :
1. EA is broken with mini accounts. Your job to fix it.
2. The EA only works correctly on micro accounts. Your job to communicate this properly from both you and support.
Can you please get it together with your dev/support team !
I have received another support email from Ivan G, Ticket ID: TZV-796420 saying there is,' Something definately not right' when the EA opens 1 lot, 100K, risk=1, mini account. He says the, ' EA might be stuck or return some dummy value'
There is serious conflict of information with what you say and support says. Check it yourself please
You have to choose one option, and then tell your support team to communicate it properly to your customers ! :
1. EA is broken with mini accounts. Your job to fix it.
2. The EA only works correctly on micro accounts. Your job to communicate this properly from both you and support.
Membre depuis Oct 05, 2011
posts 60
Jan 28, 2012 at 00:24
rv73 posted:
GlobalProfit/Dustin,
Can you please get it together with your dev/support team !
I have received another support email from Ivan G, Ticket ID: TZV-796420 saying there is,' Something definately not right' when the EA opens 1 lot, 100K, risk=1, mini account. He says the, ' EA might be stuck or return some dummy value'
There is serious conflict of information with what you say and support says. Check it yourself please
You have to choose one option, and then tell your support team to communicate it properly to your customers ! :
1. EA is broken with mini accounts. Your job to fix it.
2. The EA only works correctly on micro accounts. Your job to communicate this properly from both you and support.
Duly noted. I have already had a meeting with our customer support manager to ensure there is continuity between the way they direct customers and what is on the Members site. To clarify, the ea is designed to work on a micro account only. If you have 100k in your account you can expect to see 10k in volume for your first order which is equal to a mini lot but it still has to be traded on a micro so that once it earns 10k in can add an additional micro lot to it for a total of .11
Dustin
Jan 28, 2012 at 00:45
Thank you Dustin for your clarification and honesty.
Just a thing to note. Most mini accounts do allow micro lots after the minimum 0.1 is traded. 0.11, 1.13, etc. is not a problem.
Are you able to add a feature where i can enter my own (even safer) starting lot ?
I would like to trade $100K, but RISK=1 starting on lot 0.1 even with one pair is still too risky for me. I want to survive a 2000+ pip one-way movement. I have no problem with 25% return per year.
Could you make it so I can start with 0.05 for example ? Or better, allow me to enter in my own start lot ?
This feature would seal the deal for me. Call it the 'SUPER SAFE RV SETTING' !
Just a thing to note. Most mini accounts do allow micro lots after the minimum 0.1 is traded. 0.11, 1.13, etc. is not a problem.
Are you able to add a feature where i can enter my own (even safer) starting lot ?
I would like to trade $100K, but RISK=1 starting on lot 0.1 even with one pair is still too risky for me. I want to survive a 2000+ pip one-way movement. I have no problem with 25% return per year.
Could you make it so I can start with 0.05 for example ? Or better, allow me to enter in my own start lot ?
This feature would seal the deal for me. Call it the 'SUPER SAFE RV SETTING' !
Jan 28, 2012 at 01:14
(édité Jan 28, 2012 at 01:35)
rv73 posted:
Thank you Dustin for your clarification and honesty.
Just a thing to note. Most mini accounts do allow micro lots after the minimum 0.1 is traded. 0.11, 1.13, etc. is not a problem.
Are you able to add a feature where i can enter my own (even safer) starting lot ?
I would like to trade $100K, but RISK=1 starting on lot 0.1 even with one pair is still too risky for me. I want to survive a 2000+ pip one-way movement. I have no problem with 25% return per year.
Could you make it so I can start with 0.05 for example ? Or better, allow me to enter in my own start lot ?
This feature would seal the deal for me. Call it the 'SUPER SAFE RV SETTING' !
Could split into 2/more accounts, so you'll have a small starting lot-size, for now...
50k on RL1- should be it- to get a 0.05 start; if i understood right...
If I understood correctly, www.forexcopier.com should be able to allow us to set %R to our comfort level.
the only issue maybe how to get it right between TEA's RL, %R and 0.01 lot.
i'm not a techie, would it be a big issue to normalise them?
fx-copier is the trade copier that I mentioned in my earlier posting ... also less on hassle to find the right vps for us & still use the monthly amount saved for other stuff. This would also allow us to close all trades or a particular fx-pair by employing a script on our end of the mt4 platform...
Jan 28, 2012 at 01:25
Unfortunately not. 50K at 0.05 is still 1% risk.
The RISK setting even on lowest at 1% forces the lot size to suit your equity.
What I want is to go lower than 1% risk, which I cannot do at the moment If I pay $100 big ones a month, I want to be able to set 0.5% risk, 0.1% even. If I want to start at 0.01 lots for $100K I believe I should be able too.
Obviously this makes sense only with large accounts.
Jan 28, 2012 at 05:18
(édité Jan 28, 2012 at 05:28)
rv73 posted:
Unfortunately not. 50K at 0.05 is still 1% risk.
The RISK setting even on lowest at 1% forces the lot size to suit your equity.
What I want is to go lower than 1% risk, which I cannot do at the moment If I pay $100 big ones a month, I want to be able to set 0.5% risk, 0.1% even. If I want to start at 0.01 lots for $100K I believe I should be able too.
Obviously this makes sense only with large accounts.
so for now, @ RL1/pair, current EA will only initiate @ 0.01 if a/c size <20k,
which means that 10x10k account will need 10 different pairs @ RL 1; *** got to mind MAX RL@8 *** so 8 diff. pairs only.
got to split that a/c before it double though...for your risk mgmt style...
yes, having that lower-setting switch to the EA would give more cushion during a dd
Maybe a setting to adjust it higher >>> instead of 10k+0.01 to 100k+0.01...
Wonder if the EA calculates 'wrongly' if one add more $ into the same account
& it assumes they're from profits made...
and set the lot-size multiplier to work... i'm thinking that could be why some sees a higher starting lot-size...
Jan 28, 2012 at 05:23
rv73 posted:
Unfortunately not. 50K at 0.05 is still 1% risk.
The RISK setting even on lowest at 1% forces the lot size to suit your equity.
What I want is to go lower than 1% risk, which I cannot do at the moment If I pay $100 big ones a month, I want to be able to set 0.5% risk, 0.1% even. If I want to start at 0.01 lots for $100K I believe I should be able too.
Obviously this makes sense only with large accounts.
Intelligence! Someone who understands proper risk management in dealing with martingale systems.
Make losses, but always come out a winner at the end.
Jan 28, 2012 at 06:02
(édité Jan 28, 2012 at 06:03)
fughe posted:
Just letting you guys know, when the risk is set to 1, and you are on a $10k account, it should open a 0.01 lot position. On a $100k account, the position should be 0.1 lot. I wasn't wrong before, and I am still not wrong. The support guys need to know about this issue so they can get it fixed before someone blows their account.
yeah it would be best to have a setting for start at 0.01 per pair at whatever account size for such system...
totally forgot abt the risk of martingale...
a million is good; getting free needs only a stable income :)
Membre depuis Nov 06, 2011
posts 181
Jan 28, 2012 at 08:45
rv73 posted:
Unfortunately not. 50K at 0.05 is still 1% risk.
The RISK setting even on lowest at 1% forces the lot size to suit your equity.
What I want is to go lower than 1% risk, which I cannot do at the moment If I pay $100 big ones a month, I want to be able to set 0.5% risk, 0.1% even. If I want to start at 0.01 lots for $100K I believe I should be able too.
Obviously this makes sense only with large accounts.
Why dont you put 10k in the trading account and keep the other 90k in the bank available for margin needs?
Tom's will trade as if you have only 10k and it will be microlots all the way!
Without performing any calculations, I am sure it will trade at very low risk settings in relation to your 100k.
The 90k will be earning you interest (well...) and you will drip feed them in the trading account as required by margin levels and market behaviour (ie times like this). As profits build you remove them and try to keep a balance of around 10k.
It sounds like you want the majority of the cash to do just that, anyway. If you are happy with 25%,($25,000) that is approx 0.5% a week ($500.00) and you can achieve that with 10k on higher risk settings on several pairs.
The 90k will be there to cover when something like this happens.
You can even invest the 90k in high yealding stocks or ETFs, as long as they are available at short notice to cover for margin.
One idea in case the custom start lot size will not be implemented anytime soon. 😄
Jan 28, 2012 at 14:03
(édité Jan 28, 2012 at 14:13)
Dumb question but here goes: I have one account that is a micro account only and therefore .01 lots = 1 cent I am running the EA on a mini account where .01 lots = 10 cents. If I trade the EA on the mico account I don't see how I can make anywhere near the 6 - 10% profit monthly. So.... are we correct in trading on mini accounts that have the ability to make minimum trades of .01 = 10 cents ?
Membre depuis Dec 15, 2010
posts 795
Jan 28, 2012 at 15:58
Id only use a micro account to test live money. Not to make real money...smiles
Click on my Name to see My Live Charts and Bio.
Membre depuis Jan 10, 2012
posts 77
Jan 28, 2012 at 18:38
Here is a very good daily analysis of EU I recommend to subscribe to. I have been following Sive Morten's analysis for a while and and the are quite accurate. Looks like he is foreseeing a likely a retracement for the coming week:
