Tom'sEa WPFX LIVE (Por TomsEaWPFXlive)
O utilizador eliminou este sistema.
Tom'sEa WPFX LIVE Discussão
Membro Desde Jan 25, 2010
1360 posts
Dec 08, 2011 at 13:50
(editado Dec 08, 2011 at 13:53)
CanAm posted:
So at this point I am unable to rate as I can't see it being profitable yet.
GlobalProfit posted:
....What does it take to get a five star rating .......
Dustin
I quite agree. My results have been far from 5 star - more like 2 outta ten really.
Manually closing out losing trades and wiping all profits from previous TEA trades, and instantly losing 20% of my account balance in the process,is not my idea of a 'successfully profitable EA'.
I guess it is heavily dependant on many factors: account balance / margin available, broker, EA settings, etc.
I would expect any good EA to be automatically optimised for peak performance. I would also expect that marketers can back up their claims of 'profitable EA' with: Which broker they chose, their account balance / margin available, etc. How can one emulate profitable results if there are too many variables that the developer / marketer does not disclose, that reduces the chance of being profitable?
And why did my Avira antivirus software detect TEA as a threat and remove it?? I find it questionable that an EA should have an installation file ONLY, when usually there is also the option of manual installation with just the two or so required files (ex4 and dll files). My email was hacked recently - you wouldn't happen to know anything about this would you? (for the first time ever - perhaps a coincidence that TEA was installed recently also??)
Dec 08, 2011 at 14:36
tradingshed posted:
Maybe you are doing something wrong with the settings?
The only setting is set to 1, ie; 1%
The biggest losses are sell trades on AUDNZD that date back to Mid October and of course it has been in a big uptrend during this time. instead of 0.01 lots they range from 0.04 to 0.26 lots as it keeps adding bigger lots as its in a losing position.
USDCAD is doing the same but with buy orders and of course it has been trending down since late Nov.
Membro Desde Oct 05, 2011
60 posts
Dec 08, 2011 at 14:39
Blue Panther, its comments like yours that most confuse me.
That comment is probably the most confusing as it was posted on a forum discussing the very page that displays the information you say we have not disclosed ie what broker we are trading (WorldProfx). The starting balance (just under 10k) the leverage (400.1). It also shows you a graph of drawdowns so you can see what we have experienced based on open positions as well as what we are making and the pairs we are trading. In addition to the information on this page we have also made broker recommendations for both US and Non us clients in the members area. We have also discussed this account in webinars which the recording are available in the members area that explain the risk setting this account uses. All we can do is ensure that this information is provided in several places however it is the traders responsibility to go through all the information we have put together.
This comment is very interesting to me as you blame the EA for losses on your account in one breath and the previous breath you said you manually closed the trades ie you were responsible for the loss. Unless you are willing to let the EA do its job you really are not in a position to judge its results since the results are not really from the EA. The whole idea of an EA is to take human emotion out of your trading. I understand that there are risk levels that you may not be wiling to surpass but as you can see from this myfxbook account we have experienced draw downs of 20% which should tell you that that type of drawdown could be expected on occasion. I would like to make sure you realize that this account is also trading the highest RL rating we recommend which means you can tone it down if you are not comfortable with this level of risk. The instructions on how to do that is in the members area in several different places. We have not manually intervened one time on this account or the two tradency accounts we just posted to the members area which are trading RL6 and have been live for about 3 weeks I believe. They have not had any issues and are profitable. Many traders on this forum are posting that they are making money with it and not intervening as well.
This is the most outlandish comment and I almost didnt want to even repsond however I guess I will entertain this. I am not sure why your antivirus showed that and I have heard a few others that have reported the same thing. I can assure you we have no interest in your email inbox or any other part of your computer. We sell thousands of products like this a year and the reason we have been able to do this for years is because we are a reputable company that takes the time to work with clients to make sure they are profitable and ensure that they don't have any issues. Hacking your computer would not accomplish anything for us ie we have no motive to do this and even if we did we have more integrity and character in our company that that :)
All that said, take a look at your results and settings, spend some time in the members area and make sure you are all set up correctly and lets get you on track to making money. Make sure you watch the webinar recording in the members area as I cover exactly what you can expect to see in the way of drawdowns and how quickly you should expect to see your equity increase overall vs you balance. Please keep in mind that as we go into December we will be toning things down a bit and then we will be in full swing again in January.
CanAm, the link to the members area is www.forextradersdaily.com/tomsea. Your username and password is the same that you use for the EA.
I would expect any good EA to be automatically optimised for peak performance. I would also expect that marketers can back up their claims of 'profitable EA' with: Which broker they chose, their account balance / margin available, etc. How can one emulate profitable results if there are too many variables that the developer / marketer does not disclose, that reduces the chance of being profitable?
That comment is probably the most confusing as it was posted on a forum discussing the very page that displays the information you say we have not disclosed ie what broker we are trading (WorldProfx). The starting balance (just under 10k) the leverage (400.1). It also shows you a graph of drawdowns so you can see what we have experienced based on open positions as well as what we are making and the pairs we are trading. In addition to the information on this page we have also made broker recommendations for both US and Non us clients in the members area. We have also discussed this account in webinars which the recording are available in the members area that explain the risk setting this account uses. All we can do is ensure that this information is provided in several places however it is the traders responsibility to go through all the information we have put together.
Manually closing out losing trades and wiping all profits from previous TEA trades, and instantly losing 20% of my account balance in the process,is not my idea of a 'successfully profitable EA'.
This comment is very interesting to me as you blame the EA for losses on your account in one breath and the previous breath you said you manually closed the trades ie you were responsible for the loss. Unless you are willing to let the EA do its job you really are not in a position to judge its results since the results are not really from the EA. The whole idea of an EA is to take human emotion out of your trading. I understand that there are risk levels that you may not be wiling to surpass but as you can see from this myfxbook account we have experienced draw downs of 20% which should tell you that that type of drawdown could be expected on occasion. I would like to make sure you realize that this account is also trading the highest RL rating we recommend which means you can tone it down if you are not comfortable with this level of risk. The instructions on how to do that is in the members area in several different places. We have not manually intervened one time on this account or the two tradency accounts we just posted to the members area which are trading RL6 and have been live for about 3 weeks I believe. They have not had any issues and are profitable. Many traders on this forum are posting that they are making money with it and not intervening as well.
My email was hacked recently - you wouldn't happen to know anything about this would you? (for the first time ever - perhaps a coincidence that TEA was installed recently also??)
This is the most outlandish comment and I almost didnt want to even repsond however I guess I will entertain this. I am not sure why your antivirus showed that and I have heard a few others that have reported the same thing. I can assure you we have no interest in your email inbox or any other part of your computer. We sell thousands of products like this a year and the reason we have been able to do this for years is because we are a reputable company that takes the time to work with clients to make sure they are profitable and ensure that they don't have any issues. Hacking your computer would not accomplish anything for us ie we have no motive to do this and even if we did we have more integrity and character in our company that that :)
All that said, take a look at your results and settings, spend some time in the members area and make sure you are all set up correctly and lets get you on track to making money. Make sure you watch the webinar recording in the members area as I cover exactly what you can expect to see in the way of drawdowns and how quickly you should expect to see your equity increase overall vs you balance. Please keep in mind that as we go into December we will be toning things down a bit and then we will be in full swing again in January.
CanAm
A link Dustin?
CanAm, the link to the members area is www.forextradersdaily.com/tomsea. Your username and password is the same that you use for the EA.
Membro Desde Nov 06, 2011
181 posts
Dec 08, 2011 at 15:57
CanAm posted:
The only setting is set to 1, ie; 1%
The biggest losses are sell trades on AUDNZD that date back to Mid October and of course it has been in a big uptrend during this time. instead of 0.01 lots they range from 0.04 to 0.26 lots as it keeps adding bigger lots as its in a losing position.
USDCAD is doing the same but with buy orders and of course it has been trending down since late Nov.
CanAm, I am not sure, I am not trading those but I cannot imagine things going so wrong as you describe! Perhaps you manually closing trades at the worst point?
Dec 09, 2011 at 01:26
GlobalProfit posted:
CanAm, the link to the members area is www.forextradersdaily.com/tomsea. Your username and password is the same that you use for the EA.
Thank you Dustin.
tradingshed posted:
Perhaps you manually closing trades at the worst point?
No manual closing - to test an EA you need to let it work or the developer can say 'but you've been interfering with it - that's why its not profitable'
These are trades that are still open - hence the big push by everyone to get 'Open Trades' disclosed.
Membro Desde Oct 05, 2011
60 posts
Dec 09, 2011 at 13:10
Trades are now visible now.
Membro Desde Nov 06, 2011
181 posts
Dec 10, 2011 at 00:03
Thank you...Dustin?
Now, give credit where credit is due!
I wanted to mention here how well I feel Tom's EA has coped in the last couple of days. I have to say I am very happy with it.
I am trading above the recommended risk level and yet I end the week with several profitable trades banked both on Thursday & Friday and with an open balance DD below 3%!
Given my risk level and given the week just gone, I was bracing myself for a record DD to date.
This is the ONLY EA that I am following that has had such a performance in the last three volatile days.
- I have a demo with Tradency FXCM on which I follow some of the score leaders there. Up until Tuesday I was up over 100% in under a month. I lost more than 60% and went into negative on Thursday & Friday.
- Similar performance from my demo with Zulu Trader, disastrous U-turn from scoreboard leaders and I am left with a loss of about 20% after being up nearly 50%.
- I am running a demo where I test several EAs on MT4 and without exception they all posted small to medium losses on Thursday & Friday.
- I am running two more EAs on my live account: one did not trade at all since Tuesday, citing 'high impact news' as the reason for not trading..fair enough, I like that. The other has posted minor losses on both days, wiping a couple of % points from my P&L.
I would just like to add that my manual trading did not do particularly well for me also as I took it on the chin from AUDUSD and NZDUSD! Several of the above mentioned systems also posted substantial losses on the huge volatility on yield currencies.
However, I am trading 2 AUD pairs with Tom's EA and they were handled very well.
If I did not already give 5 stars, I would have certainly done it now!
Now, give credit where credit is due!
I wanted to mention here how well I feel Tom's EA has coped in the last couple of days. I have to say I am very happy with it.
I am trading above the recommended risk level and yet I end the week with several profitable trades banked both on Thursday & Friday and with an open balance DD below 3%!
Given my risk level and given the week just gone, I was bracing myself for a record DD to date.
This is the ONLY EA that I am following that has had such a performance in the last three volatile days.
- I have a demo with Tradency FXCM on which I follow some of the score leaders there. Up until Tuesday I was up over 100% in under a month. I lost more than 60% and went into negative on Thursday & Friday.
- Similar performance from my demo with Zulu Trader, disastrous U-turn from scoreboard leaders and I am left with a loss of about 20% after being up nearly 50%.
- I am running a demo where I test several EAs on MT4 and without exception they all posted small to medium losses on Thursday & Friday.
- I am running two more EAs on my live account: one did not trade at all since Tuesday, citing 'high impact news' as the reason for not trading..fair enough, I like that. The other has posted minor losses on both days, wiping a couple of % points from my P&L.
I would just like to add that my manual trading did not do particularly well for me also as I took it on the chin from AUDUSD and NZDUSD! Several of the above mentioned systems also posted substantial losses on the huge volatility on yield currencies.
However, I am trading 2 AUD pairs with Tom's EA and they were handled very well.
If I did not already give 5 stars, I would have certainly done it now!
Dec 10, 2011 at 03:28
5 stars from me. This is the best EA i have come across. I have two live accounts and both are doing very well.
Today my equity went higher than my balance, first time I've seen that, but shows that it is possible.
For those who are complaining about losses, it looks like you are your own worst enemy. Closing out trades
manually is a big no no. These trades have to be left open to take advantage of the inevitable retracements.
If you find the drawdown too muuch to bear, then you have your risk level too high, you are trading too
many pairs, you are not trading the recommended pairs or you just don't have enough capital.
Think of the drawdown as a springboard, it has to go down before it propels you upwards. You will
start to look forward to those drawdowns.
gl/gt
Today my equity went higher than my balance, first time I've seen that, but shows that it is possible.
For those who are complaining about losses, it looks like you are your own worst enemy. Closing out trades
manually is a big no no. These trades have to be left open to take advantage of the inevitable retracements.
If you find the drawdown too muuch to bear, then you have your risk level too high, you are trading too
many pairs, you are not trading the recommended pairs or you just don't have enough capital.
Think of the drawdown as a springboard, it has to go down before it propels you upwards. You will
start to look forward to those drawdowns.
gl/gt
Dec 10, 2011 at 05:20
(editado Dec 10, 2011 at 05:22)
kneepad posted:
5 stars from me. This is the best EA i have come across. I have two live accounts and both are doing very well.
Today my equity went higher than my balance, first time I've seen that, but shows that it is possible.
For those who are complaining about losses, it looks like you are your own worst enemy. Closing out trades
manually is a big no no. These trades have to be left open to take advantage of the inevitable retracements.
If you find the drawdown too muuch to bear, then you have your risk level too high, you are trading too
many pairs, you are not trading the recommended pairs or you just don't have enough capital.
Think of the drawdown as a springboard, it has to go down before it propels you upwards. You will
start to look forward to those drawdowns.
gl/gt
Just to make sure you understand fully..... If I am not mistaken, every person who has been, or has complained about this EA had a version or if running that had a minimum risk setting of 10% that was hard-coded to risk 1. For some reason, the risk level in previous versions was hard-coded at 10x the current risk levels.
I am just telling you because you seem to think that most of the people complaining just don't understand. To understand what all those people where dealing with....take you DD at any point, and multiply it by 10, then take the margin required and multiply it by 10. Subtract those numbers from your equity and you will understand what they were dealing with.
Also, now that the EA risk is at the correct amount of 1, 2, and 3%, I would agree that the performance should be classified as exceptional.
Make losses, but always come out a winner at the end.
Membro Desde Oct 05, 2011
60 posts
Dec 10, 2011 at 05:32
I really dont think there are many people that had a version that was trading that large lot size. If they did it was months ago and would not have any bearing on any complaints made recently. Most of the complaints on this forum that I have dealt with privately have been operator error. In most cases they were trying to use it on a mini account or just flat out trading it on to many pairs or did not let it do its thing. In fact if you experienced the issue of to many lots please speak up. I cant imagine its more than a few people.
I still do not know of any time that we had an ea that calculated it at 10%. That was not the issue. We did have a bug that would cause some accounts to trade much larger but it was not a hard coded 10%. I am going to check with our programer to confirm that but if that was the case there would be thousands of people that experienced this as we had thousands who were beta testing for us.
Fughe, I really dont know why you are so persistent with your negative comments regarding the beta period. For one it was beta for a reason. At some point you either need to get on board with it or move on. Your constant criticism regarding our beta period is not constructive in the least as the issue that was experienced by few was fixed months ago. I appreciate your comments regarding our current performance as exceptional but there is no reason to continue to harp on an issue that was isolated and was fixed. Have a great weekend everyone.
Dustin
I still do not know of any time that we had an ea that calculated it at 10%. That was not the issue. We did have a bug that would cause some accounts to trade much larger but it was not a hard coded 10%. I am going to check with our programer to confirm that but if that was the case there would be thousands of people that experienced this as we had thousands who were beta testing for us.
Fughe, I really dont know why you are so persistent with your negative comments regarding the beta period. For one it was beta for a reason. At some point you either need to get on board with it or move on. Your constant criticism regarding our beta period is not constructive in the least as the issue that was experienced by few was fixed months ago. I appreciate your comments regarding our current performance as exceptional but there is no reason to continue to harp on an issue that was isolated and was fixed. Have a great weekend everyone.
Dustin
Dec 10, 2011 at 07:04
I will drop the subject. I am tempted to put the old v1.87 on a demo so everyone can see for themselves, but....as you have said, the problem has been fixed. I won't speak of it again.
Make losses, but always come out a winner at the end.
Dec 10, 2011 at 08:19
I also must admit Tom's EA is the best EA I've seen so far. And it's quite a tough ride out there, most of them have sometimes weeks of losing capital, not funny. I was looking to add a breakout EA to work together with Tom's but I just can't find a profitable one.
Now, Tom's EA is doing great but not to push it,s profit potential too hard, that means to me risk level # 1 on all pairs (I really like the trading on this one) and not having 2 pairs on USD as they both go in the same direction, no JPY and CHF pairs as they suffer intervention and can jump 200 pips in 10 min.
So, I kept only GBP/USD as may major and added AUD/NZD, AUD/CAD, GBP/CAD, EUR/GBP, not a lot of volatility there but I don't expect big DD from them either, all on risk 1. I'm happy with the 10% monthly profit and why not to recognize trading will never be the same after seeing what this EA can do. Val
Now, Tom's EA is doing great but not to push it,s profit potential too hard, that means to me risk level # 1 on all pairs (I really like the trading on this one) and not having 2 pairs on USD as they both go in the same direction, no JPY and CHF pairs as they suffer intervention and can jump 200 pips in 10 min.
So, I kept only GBP/USD as may major and added AUD/NZD, AUD/CAD, GBP/CAD, EUR/GBP, not a lot of volatility there but I don't expect big DD from them either, all on risk 1. I'm happy with the 10% monthly profit and why not to recognize trading will never be the same after seeing what this EA can do. Val
yes I can...
Dec 11, 2011 at 01:04
Here is my observation: The EA seeks to profit from a ranging market. Since the market is usually ranging, it will usually make money. But markets always hit periods of sustained directional moves, and when it does your account will be wiped out. The other thing that makes it obvious, IMHO, that these are not honest people is all the hype about limited offers that will never again be available after today....... Yeah right. I think I was offered my absolute last chance about two months ago.
forex_trader_53345
Membro Desde Nov 13, 2011
53 posts
Dec 11, 2011 at 08:08
Up until this point, I haven't chimed in but...
I've been trading Tom's EA on demo accounts for over a month (6 demo accounts, all differing pairs, all differing risk levels - but none that exceed Tom's recommendations) as well a a live account since Nov 23 (first trades placed by Tom's EA on that date). Every single one of these accounts is in profit, and my live account is up 23%!!! (My starting balance was USD$10,000 it is now USD$12,269).
As many, many others have stated, run this EA as per the rules and suggestions offered by Dustin and his team, and profits will be made. Exceed the risk levels, manually intervene or otherwise tamper with the system, and the results WILL vary substantially (and that can be positive or negative). I am sure you could double your account in some months by turning the risk way up, but for me, I'm happy with the fact my account is on track to double once every three months!!!
As to the comments about Betas and viruses - please! Betas are just that, Betas - you are NOT supposed to run Betas on live accounts - take your life into your own hands if you do! And to the gentleman that proffered that the EA was a virus - you really shone through as someone who was looking for someone else to blame for your misfortune. The EA is protected, so someone cannot steal the intellectual property contained - that is why it is an .exe. Many antivirus manufacturers build what is know as heuristics into their software - because their are over 2 million viruses in the wild at any one time - they need to be able to try and auto-identify a virus. Do you really think that your anti-virus signature updates you get contain the signature for all 2 million viruses!?!?! It is the top 10-15% and heuristics are left to find the rest. Many, many legitimate, legal and non-virus softwares are identified by anti-virus software as a virus. If you'd like to see the issues with anti-virus, take a look at www.antiantivirus.com.au and you'll see what I am talking about.
I'd like to personally thank Dustin, Tom and the team for what is truly an exceptional EA (the best I've personally seen) and laying another piece of the foundation for me and my family to become financially independent😎.
I've been trading Tom's EA on demo accounts for over a month (6 demo accounts, all differing pairs, all differing risk levels - but none that exceed Tom's recommendations) as well a a live account since Nov 23 (first trades placed by Tom's EA on that date). Every single one of these accounts is in profit, and my live account is up 23%!!! (My starting balance was USD$10,000 it is now USD$12,269).
As many, many others have stated, run this EA as per the rules and suggestions offered by Dustin and his team, and profits will be made. Exceed the risk levels, manually intervene or otherwise tamper with the system, and the results WILL vary substantially (and that can be positive or negative). I am sure you could double your account in some months by turning the risk way up, but for me, I'm happy with the fact my account is on track to double once every three months!!!
As to the comments about Betas and viruses - please! Betas are just that, Betas - you are NOT supposed to run Betas on live accounts - take your life into your own hands if you do! And to the gentleman that proffered that the EA was a virus - you really shone through as someone who was looking for someone else to blame for your misfortune. The EA is protected, so someone cannot steal the intellectual property contained - that is why it is an .exe. Many antivirus manufacturers build what is know as heuristics into their software - because their are over 2 million viruses in the wild at any one time - they need to be able to try and auto-identify a virus. Do you really think that your anti-virus signature updates you get contain the signature for all 2 million viruses!?!?! It is the top 10-15% and heuristics are left to find the rest. Many, many legitimate, legal and non-virus softwares are identified by anti-virus software as a virus. If you'd like to see the issues with anti-virus, take a look at www.antiantivirus.com.au and you'll see what I am talking about.
I'd like to personally thank Dustin, Tom and the team for what is truly an exceptional EA (the best I've personally seen) and laying another piece of the foundation for me and my family to become financially independent😎.
forex_trader_53345
Membro Desde Nov 13, 2011
53 posts
Dec 11, 2011 at 08:08
Oh, and 5 stars from me!
forex_trader_52540
Membro Desde Nov 06, 2011
248 posts
Dec 11, 2011 at 08:27
val777ca posted:
I also must admit Tom's EA is the best EA I've seen so far. And it's quite a tough ride out there, most of them have sometimes weeks of losing capital, not funny. I was looking to add a breakout EA to work together with Tom's but I just can't find a profitable one.
Now, Tom's EA is doing great but not to push it,s profit potential too hard, that means to me risk level # 1 on all pairs (I really like the trading on this one) and not having 2 pairs on USD as they both go in the same direction, no JPY and CHF pairs as they suffer intervention and can jump 200 pips in 10 min.
So, I kept only GBP/USD as may major and added AUD/NZD, AUD/CAD, GBP/CAD, EUR/GBP, not a lot of volatility there but I don't expect big DD from them either, all on risk 1. I'm happy with the 10% monthly profit and why not to recognize trading will never be the same after seeing what this EA can do. Val
I very agree with your concern for risk control with non-related pair. why did you kick off EUR/USD pair, not GBP/USD? for TOMs EA, EUR.USD has the best performance.
by the way, Europe zone currency will be highly volatile due to lots of uncertainty in near future. how about your opinion?
Membro Desde Nov 06, 2011
181 posts
Dec 11, 2011 at 08:38
Well said, Paul.
Nessa1, you are amongst a few people that warn users of a possible account wipeout. I am relatively new to automated trading but I cannot see how this would work. Perhaps I am missing something.
Tom's does not seem to me to be a software that will give you a wipeout overnight (not on microlots, anyway) while you are sleeping, leaving with a nasty morning surprise. Therefore, any 'wipe out' due to strong trend without retrace would have to occurr over a period of time. On microlots and with 5k or even 10k capital, that would have to be a substantial period of time. During that time, one has the ability to assess their tolerance to DD and pull the plug at any time. If we assume a max tolerance of 40% during a very strong trend against you on all the 6 pairs (gosh! I want to ride that one!), we would then hit the STOP button at 40% DD. IN the case of Paul above and many others, he already has 2.5k profits, assume he loses another 1.5k on this once in a decade-black swan-megatrend, well, so be it, he is left with 8.5k, but this is not an account wipe out.
Am I wrong? How else do you foresee a possible wipeout? Thanks.
nessa1 posted:
Here is my observation: The EA seeks to profit from a ranging market. Since the market is usually ranging, it will usually make money. But markets always hit periods of sustained directional moves, and when it does your account will be wiped out.
Nessa1, you are amongst a few people that warn users of a possible account wipeout. I am relatively new to automated trading but I cannot see how this would work. Perhaps I am missing something.
Tom's does not seem to me to be a software that will give you a wipeout overnight (not on microlots, anyway) while you are sleeping, leaving with a nasty morning surprise. Therefore, any 'wipe out' due to strong trend without retrace would have to occurr over a period of time. On microlots and with 5k or even 10k capital, that would have to be a substantial period of time. During that time, one has the ability to assess their tolerance to DD and pull the plug at any time. If we assume a max tolerance of 40% during a very strong trend against you on all the 6 pairs (gosh! I want to ride that one!), we would then hit the STOP button at 40% DD. IN the case of Paul above and many others, he already has 2.5k profits, assume he loses another 1.5k on this once in a decade-black swan-megatrend, well, so be it, he is left with 8.5k, but this is not an account wipe out.
Am I wrong? How else do you foresee a possible wipeout? Thanks.
Dec 11, 2011 at 09:16
nessa1 posted:
Here is my observation: The EA seeks to profit from a ranging market. Since the market is usually ranging, it will usually make money. But markets always hit periods of sustained directional moves, and when it does your account will be wiped out. The other thing that makes it obvious, IMHO, that these are not honest people is all the hype about limited offers that will never again be available after today....... Yeah right. I think I was offered my absolute last chance about two months ago.
Just to help expand the understanding a little here, let me address the DD. For most systems that use martingale, the SL just keeps getting bigger and bigger as the trade set runs negative. Dustin explained, in a previous post, something that changes the outlook radically. What Dustin noted was the SL is not set for the group of trades, but for each trade individually. So, if the whole group runs -630 pips before making a serious reversal, ONLY the very first position would be closed at a loss. If the market continued down past the -650 area, then the second position would end up being stopped out. From what i have seen, you will get another SL for every ~50 pips the group goes negative until it it bounces enough to hit the TP for the group.
I was not aware of this until Dustin made the comment about how the SL behaved. That said, assuming you are using proper risk management of 1%, and a high enough equity (I would recommend $10,000/pair).....the only scenario you will ever get wiped out is if the market has a major crash where a pair moves in the order of 1000 pips or greater without a significant pullback. I can't say this will never happen, but the chance is so small as it is safe to safe it will never happen. Plus, the chance is even smaller that you wold not at some point be able to get out of the group at breakeven long before it wiped out your account.
I am fairly certain that you were not aware of this, and i figure there will be others who are not. Knowledge is power. Know the system and you will know what to do when an emergency occurs. Keep in mind, a SL on this system is not an emergency. The ONLY emergency with this system is a market crash.
Make losses, but always come out a winner at the end.
Dec 11, 2011 at 11:37
paulrozza posted:
Up until this point, I haven't chimed in but...
I've been trading Tom's EA on demo accounts for over a month (6 demo accounts, all differing pairs, all differing risk levels - but none that exceed Tom's recommendations) as well a a live account since Nov 23 (first trades placed by Tom's EA on that date). Every single one of these accounts is in profit, and my live account is up 23%!!! (My starting balance was USD$10,000 it is now USD$12,269). I'm happy with the fact my account is on track to double once every three months!!!
I'd like to personally thank Dustin, Tom and the team for what is truly an exceptional EA (the best I've personally seen) and laying another piece of the foundation for me and my family to become financially independent😎.
Wow! So your $10000 will be over a million in less than two years. Please keep posting your statements so we can watch this happen.
