FxPapa Expert Advisor (By FxPapa)
The user has deleted this system.
FxPapa Expert Advisor Discussion
Member Since May 16, 2012
27 posts
Jul 05, 2012 at 14:58
PlS if it possible deleted the GBP/USD trade from the robot , bqz mostly loss is bqz of trading in this currency. not suitable for this currency
Jul 05, 2012 at 16:19
Comments seem worth considering about removing GBPUSD from the strategy. All 3 of the major drawdowns, Feb 7, May 16, and today, have been GBPUSD. It luckily recovered on Feb 7, and due to Canadian leverage glitch didn't take much of a hit on May 16, but today was a full size -194 pip loss. And yet FxPapa is still +315 pips on GBPUSD overall. It is just a concern that these SL's wipe out 4-6 weeks worth of profits.
Member Since Dec 07, 2009
134 posts
Jul 05, 2012 at 17:59
I am sure you always get the comments after a loss but here is another anyways. Good performance overall and I see some people would like to remove the gbpusd pair but consider another alternative. Why not just make them gbpusd trades ½ of eurusd size? This would allow the risk level on the account to stay the same with overall DD being reduced. In fact, users could then bump up risk and achieve the same level of DD that they currently have but with an improved performance. Thanks.
Be afraid, very afraid?
Member Since Dec 07, 2009
134 posts
Jul 05, 2012 at 18:00
Custom analysis here on myfxbook.com shows something like 28% DD for gbpusd vs only 9% for eurusd so the above suggestion seems beneficial.
Be afraid, very afraid?
Member Since Jun 30, 2012
3 posts
Jul 05, 2012 at 18:01
Hi Papa - Why did you allow this trade to happen this week with three major US and European News releases. I thought you said earlier that you dont allow the robot to trade around news time. I have two other ea(s) that dont trade around big news. The feauture is built into the bots and they dont trade around big news events. I think you should do the same. It would make the ea more profitable or just manually dont send signal to our slave ea(s) around news time. I dont think we should have to turn the ea on and off ourselves. I think you should do it for us so that the entire process can be no hassle for us. Just my 2 cents.
Jul 05, 2012 at 19:49
robotchallenge posted:
I am sure you always get the comments after a loss but here is another anyways. Good performance overall and I see some people would like to remove the gbpusd pair but consider another alternative. Why not just make them gbpusd trades ½ of eurusd size? This would allow the risk level on the account to stay the same with overall DD being reduced. In fact, users could then bump up risk and achieve the same level of DD that they currently have but with an improved performance. Thanks.
This is a very notable suggestion by robotchallenge
I agree with a separate risk profile input for each of the two pairs. I would like to see a separate user control setting for each.
Jul 05, 2012 at 19:58
Better than having the possibility of selecting risk for each pair would be having the possibility of selecting risk for GBPUSD-short, GBPUSD-long, EURUSD-short, EURUSD-long. Only GBPUSD-long is not profitable. GBPUSD-short is the most profitable of all. So why remove or reduce risk? I would add risk for each day. I bet Tuesdays are not profitable. GBPUSD is.
Jul 05, 2012 at 20:36
the sad truth is 99% of all commercial EA are rubbish and this is looking to be one of them. the last 4 months has been breakeven:
https://www.myfxbook.com/members/ragency/fxpapa-demo/256142
im just gonna stick with my private EAs.
https://www.myfxbook.com/members/ragency/fxpapa-demo/256142
im just gonna stick with my private EAs.
Get Rich or Die Trying
Jul 06, 2012 at 01:19
sugarboy7 posted:
the sad truth is 99% of all commercial EA are rubbish and this is looking to be one of them. the last 4 months has been breakeven:
https://www.myfxbook.com/members/ragency/fxpapa-demo/256142
im just gonna stick with my private EAs.
Ragency what risk are you trading with? Trading 0.29 lots on a demo account with 2,800.00 is almost 20% risk per basket of 3 trades hitting this 200 pip SL. So a loss is kind of hard hitting sockeroo in the kisser when it happens. I think you might be over trading a bit.
Just imagine positions of your size taking a market opening spike similar to what Wall Street Forex took which hit the full 168 pip SL on an EA programmed for a hard 120 pip SL. Check out their EU trade closed on 06.11.2012 00:00 it closed -10.40% in a snap.
https://www.myfxbook.com/members/forexwallstreet/wallstreet-forex-robot-real/95290
I would reduce risk to no more than 4% which is sustainable based on a demo account of this size and let time tell if the EA is performing well. I am keeping all my live EA's turned off until the market open Sunday night
Jul 06, 2012 at 02:01
For those not happy with GBPUSD:
since the loser is GBPUSD-long and since EURUSD-long would behave similarly in a day with bad news for Europe, you may consider to deactivate LONGs in your EA. You can do it right-clicking on the EA chart, then select the tab Common, and select "Only Short". The account above, which is currently making 3% monthly, would be almost 10% monthly only trading shorts. And in case a week with bad news for the US comes and the USD is falling, act in accordance to the news and do the opposite. This might reduce losses and risk.
since the loser is GBPUSD-long and since EURUSD-long would behave similarly in a day with bad news for Europe, you may consider to deactivate LONGs in your EA. You can do it right-clicking on the EA chart, then select the tab Common, and select "Only Short". The account above, which is currently making 3% monthly, would be almost 10% monthly only trading shorts. And in case a week with bad news for the US comes and the USD is falling, act in accordance to the news and do the opposite. This might reduce losses and risk.
Jul 06, 2012 at 07:53
It looks like for both real https://www.myfxbook.com/members/FxPapa/fxpapa-expert-advisor/198366 and demo https://www.myfxbook.com/members/ragency/fxpapa-demo/256142 FxPapa accounts GBPUSD LONG trades the worst trade settings. Every other setups - EURUSD LONG and SHORT as well as GBPUSD SHORT just perfect.
Is it possible to remove GBPUSD LONG trades from EA?
Also, news filtering at signaling part of FxPapa definitely should improved.
....just my 5 cents
Is it possible to remove GBPUSD LONG trades from EA?
Also, news filtering at signaling part of FxPapa definitely should improved.
....just my 5 cents
Jul 06, 2012 at 09:25
guys i wouldnt run this ea any higher than 10% risk or 5k. i loss $800+ becos of this and i was only running it on 15% risk. big regret. I had a big DD from may too, i was just about to recover that when this 2nd DD hit. so as a result it has been in DD for 4 months now. I would gladly sell my license. I would not trust this EA with anything more than 5k!
Get Rich or Die Trying
Member Since May 16, 2012
27 posts
Jul 09, 2012 at 06:12
Dear sir
May I know when the new new version of FXpapa will b released?
Thanks
May I know when the new new version of FXpapa will b released?
Thanks
Jul 10, 2012 at 04:59
i suggest you to edge all the positions from fxpapa you will win more money, because most of time it s open order against the trend. you have around 30mn to 3hours to double your profit.
In case fxpapa open in the right trend you only lost the comission fee from your broker.
Look the history and simulate it by edging all the position you will see a huge profit instead of 0 profit +_8 pips +comm
more chance to double the profit than win "0"+comm
Good luck
today the trend of EUR USD is down fxpapa will open in which direction. Wait and see.
In case fxpapa open in the right trend you only lost the comission fee from your broker.
Look the history and simulate it by edging all the position you will see a huge profit instead of 0 profit +_8 pips +comm
more chance to double the profit than win "0"+comm
Good luck
today the trend of EUR USD is down fxpapa will open in which direction. Wait and see.
Member Since Apr 27, 2012
2 posts
Jul 10, 2012 at 12:57
Hi all, Hi FxPapa,
I was looking for the trading log and nothing was traded since July 5th. Did you halt you're EA for a while? when would you come back?
Regards
I was looking for the trading log and nothing was traded since July 5th. Did you halt you're EA for a while? when would you come back?
Regards
Member Since Jan 10, 2012
77 posts
Jul 10, 2012 at 14:27
Is it possible to run papa together with other EAs on a MT4 terminal?
