Inca EA Discussion

yea but Obama got the Nobel, but some hedge funds and mutual still use these practice, and that is the point, you will not stop them doing it, if you want to be very clear its your choice but some will make still some markets tricks, the big boys do not play in a clear way, they use tricks we will never get to know about that. And please do not send me to go back the trading basis I am not here on the market from yesterday heh:), if you want to trade using basics trading its your choice, I do not have anything against it but your returns will be always average maybe with some exceptions. I am for innovative way of trading ;), I am for innovative trading strategies, unless they work fine and make money I like them 😇

As for market basics i meant: Buy cheap sell high...
I use market basics in all my trading strategies and they are innovative also since i try to predict massive movements with different strategies to get the basic 'buy cheap sell high'... Market is what people want to, a lot of people interacting each other is what chaos theory would explain just perfect. These strategies don't make market, just fooling people.
I don't have to speculate on getting rid of other foolishness to be successful... If i finish doing that in my life i would feel really bad myself at old age... that's for sure.
It's ok about your way of thinking, but that's not mine.
As i stated before, it's just my opinion.
Good luck with those kind of strategies.

JC

cacus posted:
    As for market basics i meant: Buy cheap sell high...


JC

I see now, and that's the point I can agree, because most of the strategies I trade are based on that, and on trend following, and trend scalping. However as I said I am open minded for any inovations.

Take care

Equador posted:
    I can trade, I know theory and have some practice, about 18 months, but the thing is I always lose on manual trading, like most traders I guess, so that's why I bought the robot hoping I can make finally money with it.

EA type trading don't work because history never repeats itself. Only manual trading works.
Note that historical events never repeats itself.(Napoleon,
Second world war) Each generation has unique circumstances that takes
mankind on a different trajectory, such as technology breakthroughs.
Greece and Dubai were historical events the final outcome of which is
being reflected right now in the markets.

Technical analysis (which I use) is based on the assumption of
patterns repeating itself. Note that I differentiate between
historical events and repeating patterns. The sun rising in the east
everyday is a pattern. Historical events usually induces a consistent
trend either up or down such as Greece. A trader attempts to
identified repeating patterns , taking into account what historical
event just took place.

I say this because rising tides lifts all boats. If all you had done
was to short the Euro as the Greece crises unfolded , you would have
made money, no matter what your draw-down, but in a counter trend
that trading style won't work. As the market shifting events get
resolved, the market settles at a certain trading range.

60% of the time we have a counter trend, 30% a trend and
10% a break-out, with break-out usually initiated by historical
events.

Equador posted:
    Juan,

If you are right, that I will not be able to use this robot on real account, then just before the end of the contest I will withdraw to give place to another 'rightful' system. For now let me enjoy the 1st place. It makes me really happy. My trading skills are very bad, so now I feel like a forex champion. Probably the first and last time?!😇

This would be much appreciated. Problem though is that there could be somebody else doing the same (maybe even an employee of FXDD) who keeps his trades secret till the very last moment and then uploads them with some ridiculous 2000% profit. For example there are well known brokers who have microlot trading contests every month where some random employee makes 2000% every month, the winner doesn't exist because that person would have opened an myfxbook account and uploaded his results. Afterwords GS will contact him for a $1mil a year trading job. The so called 'interviews' with them is all a scam, it just generates trading buzz for the firm. AFter months and months of watching these traders 'win' I noticed that none of them ever posted on the major forex forums - they don't exist! The firms name begins with an F and ends with an M - guess who they are.....

The facts are that 95% of all traders forex, futures stocks after 5 years have vanished - they just didn't make it. Forex firms knows this and must sell you an illusion, a hope or dream by creating some phantom mirage of some trader out there who made 800% in one month.

'EA type trading dont work bc.....' Nonsense, it does!😎

pc8multifx posted:
    'EA type trading dont work bc.....' Nonsense, it does!😎

You would need at least to show an account making positive equity returns for 6 months in a row then it would indicate your EA is on to something. One or two month results of 5mil % gain don't count. Out of the thousands of deceived individuals out there wasting their money and time on EA programming, there will always be the one or two making money like there will always be one or two winning the lottery. We are trying to engineer forex profits not gamble.

[link removed] documents a forex robot trading contest over two months. Two months isn't long enough because in the next two months the robot at the bottom of the ranking could become the winner. What you need is equity growth month on month every month for at least 6 months and preferably a year. The fallacy is known as 'survivalist bias'.

For those of you earnestly applying your Elliot waves, MACD, fib lines and other trading nonsense read the following on how 95% of you will ultimately not make money day trading. It can be done though, those few rare individuals do exist, but they won't tell you how to do it and why should they?

[link removed as per myfxbook policy]
As you know, I was idly perusing the Boston Technologies website the other day when I happened across their very own MetaTrader robot, which seems to have developed an unfortunate habit of losing money rather than making it hand over fist.

I happened across some other interesting stuff over there too, including instructions on how to start your own forex brokerage, with Boston Technologies able assistance of course. Apparently:

Boston Technologies is working with companies such as FXCM, Gain Capital, ODL, Alpari, MIG, Interbank FX, and FXDD to create the most competitive Retail Forex business in the world. We couple the immensely popular MetaTrader4 Platform, our extensive partner network, and our own innovative technology to start organizations off with the right foundation needed to succeed in retail forex.

Like me you might well be wondering why all these 'competitive Retail Forex businesses' would want to get into the brokerage business in the first place. Helpfully Boston Technologies also provide an answer to that very question. If you download the 'Detailed Business Plan Framework' from that page you will discover all sorts of interesting snippets of information about how forex brokers make money. Various business models are outlined. For 'straight through processing' it seems as though:

Rule of thumb calculations show that if [a customer] deposits $10,000 then the broker will make about $1000 in profit over a month if he is active. For an inactive trader he will make $100.

In the 'closed loop dealing desk' model however, the broker takes on more risk, but makes bigger profits:

Most small retail customers have no experience and 95% of them WILL lose money.

Here, most customers act like gamblers and your job is to act as the 'house'.

This is a 'non-recurring' customer model in that most customers lose their cash, and do not come back with additional investments. Ongoing customer acquisition is therefore very important.

So there you have it. You now know how the over the counter brokers make their money from forex. The obvious question to ask next is how can you make money from forex? If you still fancy your chances at those odds we humbly suggest that you fill in the little form at the top left of this page, then click the 'Sign Up' button. If you don't mind sending us your email address we will periodically send to your inbox all sorts of useful information on how to avoid being amongst the '95% that WILL lose their money'.

I'm not sure what u try to promote here, but your statement doesnt change my mind (and experience of more than a decade) : EA trading rocks the market (and the account equity), but its sometimes boring, so I take a manual trade from time to time just for the sake of trading joy... 😉

Your account shows 4 months of equity gains at https://www.myfxbook.com/members/pc8multifx/alpari-uk-live/18941 but your equity is at 63% of account balance. Thus your NAV gain isn't 149% but a figure much less we can't deduce without getting the calculator and initial deposit How long for example have the losing positions been left open? With forex we have eternity for a trade to turn positive, but we don't live that long.

If you can push your account after closing all loss making positions to six months and then 12 months positive equity month on month I will be really impressed. There are very few systems out there showing month on month gains every month for at least two years. Don't think they exist.

We have been in a consistent down trend with the Greek issue and we don't know what lot sizes you have going short as % of trading equity. There are various factors to quantify the risk/reward ratio of a trading account and for this we must have access to the individual trades. As posted rising tides lift all boats.

If an account makes just one month of negative equity , it would indicate that the trading system previous trades were random luck, not any real insight on the part of the analyst. We must differentiate between random luck trades and engineered trades, the month on month equity increases would be the strongest indication that a trader isn't is playing the lotto.

seems u didn't read the general tab of this acc.:
 'This live acc. is traded mainly by EAs with manual intervention when needed'

I test commercial and private EAs there under live conditions. Crappy commercial EAs caused the DD and I'm trading back the equity manually piece by piece.
 It has nothing to do with the self developed EAs there:

https://www.myfxbook.com/members/pc8multifx/pc-e-u-max-ocm/4439
https://www.myfxbook.com/members/pc8multifx/xpipstrendmulti/15435

These EA accounts are running untouched ...take a close look at the DD😝

pc8multifx posted:
    seems u didn't read the general tab of this acc.:
 'This live acc. is traded mainly by EAs with manual intervention when needed'

I test commercial and private EAs there under live conditions. Crappy commercial EAs caused the DD and I'm trading back the equity manually piece by piece.
 It has nothing to do with the self developed EAs there:

https://www.myfxbook.com/members/pc8multifx/pc-e-u-max-ocm/4439
https://www.myfxbook.com/members/pc8multifx/xpipstrendmulti/15435

These EA accounts are running untouched ...take a close look at the DD😝

Your history is private thus nothing can be deduced. We don't know how much you geared on individual currency pairs. A demo account is perfect for track record generation purposes but since it is demo we need to see how the account was traded.

Be assured they are obviously traded very well by EAs.

 That's exactly the point. A machine can do what we never be able to do manually: trading around the clock.

 Otherwise I wouldn't have the time to find out on what kind of crusade against successful EAs you are LOL

 The trade history of the EAs is nobody's business, since I don't sell or publish these great EAs. They are made to trade managed accounts.

 Just use the analyze tool to see the individual CCYs of the acc. and BTW u on demo too...🙄

Have a nice day. Time for the beach walk😎

Can someone please tell me what the underlying strategy of this EA is? Is it a scalping EA? Or Arbitrage?? If you have an arbitrage friendly brokerage would this work there?

Mavy posted:
    Can someone please tell me what the underlying strategy of this EA is? Is it a scalping EA? Or Arbitrage?? If you have an arbitrage friendly brokerage would this work there?

You should read the whole thread from the start, it is explained pretty well. Basically the strategy is using two price feeds thus knowing in advance what FXDD will quote and then making 1pip gains on every trade. This will never be allowed on a real account which is why all systems on myfxbook that shows their trades as Private in either demo or real should be ignored.

Especially the broker must be shown, some of these bucket shop broker firms are themselves trading a fake real account using their own employees to which the 'leak' the prices. They could setup hundreds of imaginary real accounts run on virtual cloud computing PC's with EA's implementing strategies aligned with the phases of the moon on one and the other 453 EA's doing Fib, MACD, support resistance , with themselves, the few that then actually make money are posted. You must know the name of the trader,he must state his name, age and country of residence. You should be able to get him on the phone. A trading firm would be suspect because only individuals can trade, not firms. A scammer could setup hundreds of firms or websites , but when you hear the voice , there can be only one such voice.

Such a fake employee would then gather in all the suckers setting up a PAMM account and have the bucket shop keep all the funds since the EURO trades weren't hedging with futures contracts in any case, it was just all imaginary PC entries on an excel sheet. Then another phantom employee sets up another fake real account with the same bucket shop posting nonsense of 2000% or 500% or 600% gain or whatever.

A demo or real trading statement from Fxpro(oil , dow) , fxcm and forex.com would be acceptable as they are reputable brokers. In addition such a trader must have a stocktwits.com account with real-time trades telling us before the event when to buy oil, not be clever afterwords with imaginary support and resistance lines, fib, MACD or Elliot tripe.

The system designer might say he doesn't want to have his trades reverse engineered but this is not true. There is for example a trader ranked at nr.1 on Zulutrade , I have looked at his trades and tried to reverse engineer it but no luck.

There is a thread on forexfactory.com called ' Technical analysis fallacy ', those of you trading the euro with MACD should read it to see if you are perhaps not deceiving yourself. The market moves in waves, how do you know the market rallied for some other reason then fib, macd, rsi or stochastic?

myfxbook is a tool and technical innovation but like any thing to do with computers it can be gamed. Virtually all the accounts posting 300% gains in real and demo is probably a broker setting up their own fake real accounts. IN the real world 95% of forex traders loose money, the few that make 300% aren't posting to myfxbook.com they are working for Goldman.

cacus posted:
    

Sorry dude, but winning with a prohibited forex strategy is quite like cheating in games... FXDD should have banned this practice.
You are preventing another good forex trader to achieve one of the price places just by playing with a cheat system. That's not right if you ask me.
Its just my humble opinion.
Good luck.

JC

Cacus, shut up dude, your systems are also a complete waste.

Regards.

bicho1 posted:
    
Cacus, shut up dude, your systems are also a complete waste.

Regards.

Ok, thanks for the constructive criticism :) I appreciate your kindness.

For what its worth I developed an automatic system that takes advantage of small 1-2 pip gains and have been using it with Gain Capital with no problems. It doesn't prey off the lag like this system does but to the broker it would look the same. I have withdrawn winnings from my account no problem. Actually showed up in my bank faster than promised. Now if you use a less reputable broker I can see where you would be in trouble but I see no problem here, let the guy enjoy his winnings. It would be interesting to see the real account with the prize money deposited in it with this EA running to see how FXDD wants to position themselves.

bicho1 posted:
    

cacus posted:
    

Sorry dude, but winning with a prohibited forex strategy is quite like cheating in games... FXDD should have banned this practice.
You are preventing another good forex trader to achieve one of the price places just by playing with a cheat system. That's not right if you ask me.
Its just my humble opinion.
Good luck.

JC

Cacus, shut up dude, your systems are also a complete waste.

Regards.

Why are you so rude man? Do u know his systems well? They seem to perform quite good as far as I can see on myfxbook

pc8multifx posted:
    
Why are you so rude man? Do u know his systems well? They seem to perform quite good as far as I can see on myfxbook

It's ok man, thanks. I really don't know this guy but seems like he always just 'speak well' on their posts... Take a look at their profile...
Anyway, i adore critics, as long as they explain you the problem. Here i see nothing more that unkindness so, don't need any kind of attention...
My EAs are not perfect, i understand that, but they are mine and i know how they work and i'm happy whit them.
This reminds me one more time why i stopped sharing some time ago.... :(
Regards.

JC