Wallstreet Forex Robot (Por birt)
| Ganho : | +1.82% |
| Limite de prejuízo | 40.19% |
| Pips: | 571.7 |
| Negociações | 1793 |
| Ganho: |
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| Perdido: |
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| Tipo: | Real |
| Vantagem: | 1:500 |
| Negociação: | Automatizado |
Wallstreet Forex Robot Discussão
Aug 04, 2011 at 21:49
I'm sorry to hear about your drawdown. Someone on my blog recommended not trading at all until about September and it's probably a wise thing to do. However, it's a two-faced coin: if you stop trading now or reduce the lotsize, Murphy's law will most likely kick in and WSFR will start making a lot of money.
On a different note, if I'm not mistaken, WSFR comes with money management disabled and 0.1 lot size. You mentioned using default risk and obviously you didn't use a 0.1 lot size; for some reason, the drawdown figure seems to be wrong as well yet the relatively rapid growth suggests a higher risk, so I'm wondering what risk were you using? Was it 5?
On a different note, if I'm not mistaken, WSFR comes with money management disabled and 0.1 lot size. You mentioned using default risk and obviously you didn't use a 0.1 lot size; for some reason, the drawdown figure seems to be wrong as well yet the relatively rapid growth suggests a higher risk, so I'm wondering what risk were you using? Was it 5?
Membro Desde Jul 24, 2011
150 posts
Aug 04, 2011 at 21:59
Thanks for your reply.
You were right about MM disabled. I HAVE enabled MM and set it to 5%. But I had recovery mode set to default=false.
After the steep losses of today and yessterday, I have the risk reduced to 2.5% BUT I have enabled recovery mode to compensate somewhat the loss when the bot starting to generate profits at 2.5% (instead of the 5%). This is only useful when the bot still makes bad trades, the recovery mode put it slowly the risk back to 5%, so maybe then I can come back into the positive. That is now my plan.
What would you do in my place? Leave the 5% setting on? THAT is so hard, but maybe the only way to come back on track?
You were right about MM disabled. I HAVE enabled MM and set it to 5%. But I had recovery mode set to default=false.
After the steep losses of today and yessterday, I have the risk reduced to 2.5% BUT I have enabled recovery mode to compensate somewhat the loss when the bot starting to generate profits at 2.5% (instead of the 5%). This is only useful when the bot still makes bad trades, the recovery mode put it slowly the risk back to 5%, so maybe then I can come back into the positive. That is now my plan.
What would you do in my place? Leave the 5% setting on? THAT is so hard, but maybe the only way to come back on track?
Membro Desde Jul 24, 2011
150 posts
Aug 05, 2011 at 06:58
{ 'id':'22281', 'type':'1', 'error': 'false', 'file':'fight_back.png', 'path':'https://www.myfxbook.com/files/Myk2elS2ilver/fight_back.png', 'isImage':'true', 'message':'' }
I see the WS Bot fight back this morning. But the day is not over yet. But it gives hope (fight_back.png)
I see the WS Bot fight back this morning. But the day is not over yet. But it gives hope (fight_back.png)
Anexos:
Aug 05, 2011 at 08:17
Well, I really have no sound advice in this case. Thing is, if you turn the risk dial higher to something like 10 in hopes of getting out of the drawdown quick, it will most likely run into another loss and put you into an even larger drawdown. On the other hand, if you set the risk at 2.5%, it will likely have a winning streak that will make you curse yourself for not setting it to 10. Fate is just like that, typically.
Perhaps the best course of action is to simply disregard the drawdown, configure it on 2.5% which is a very sensible risk setting and let the EA move on. Anyway, just for your information, with 2.5% risk I estimate it'll take some 2-4 months to recover. As for recovery mode, personally I dislike that in all EAs - it's just setting you up for a big surprise when it increases the lot size and the market goes against it, digging deeper into the drawdown instead of digging out of it.
Perhaps the best course of action is to simply disregard the drawdown, configure it on 2.5% which is a very sensible risk setting and let the EA move on. Anyway, just for your information, with 2.5% risk I estimate it'll take some 2-4 months to recover. As for recovery mode, personally I dislike that in all EAs - it's just setting you up for a big surprise when it increases the lot size and the market goes against it, digging deeper into the drawdown instead of digging out of it.
Membro Desde Jul 24, 2011
150 posts
Aug 05, 2011 at 14:47
(editado Aug 05, 2011 at 14:53)
Birt,
Do you understand the mail I just got from LiteForex???:
--------------------------------------
Dear clients,
From 08th of August, 2011, since 00.00.00 (GMT + 2, terminal time) the Company will make Margin Call Level is set at 100%, and the Stop Out - 50%. Please take notice that the new conditions will apply to both old and to the newly created accounts. Please, take care to maintain a sufficient level of resources to ensure collateral requirements for open positions.
---------------------
EDIT: My current Margin rate is 2557,63%. According to this mail it will be reduced to 100%! So that is a change of more then 25x!! Wow. I hope not.
Do you understand the mail I just got from LiteForex???:
--------------------------------------
Dear clients,
From 08th of August, 2011, since 00.00.00 (GMT + 2, terminal time) the Company will make Margin Call Level is set at 100%, and the Stop Out - 50%. Please take notice that the new conditions will apply to both old and to the newly created accounts. Please, take care to maintain a sufficient level of resources to ensure collateral requirements for open positions.
---------------------
EDIT: My current Margin rate is 2557,63%. According to this mail it will be reduced to 100%! So that is a change of more then 25x!! Wow. I hope not.
Aug 05, 2011 at 15:06
You got it a tad wrong. The current stop out level is 30% while (I guess) the margin call level is 50% and they will now get increased to 50% respectively 100%. Basically, the margin call level is when you get warned about your margin usage and the stop out level is when your positions are fully closed. Take a look at https://www.100forexbrokers.com/margin-call-vs-stop-out for more info.
You don't have anything to worry about if you're not overleveraging your account and you definitely aren't if you're using WSFR with 2.5%-5% risk.
You don't have anything to worry about if you're not overleveraging your account and you definitely aren't if you're using WSFR with 2.5%-5% risk.
Membro Desde Jul 24, 2011
150 posts
Aug 05, 2011 at 15:09
(editado Aug 05, 2011 at 15:10)
Unfortunately I use the LiteForex account also for some silver positions. If I understand you correct it is now changed from 50% to 100%. That is an increase of 2x. That is what a call a lot.
EDIT: Thanks for the link
EDIT: Thanks for the link
Aug 05, 2011 at 15:30
In all likelihood, you are not affected by this change at all.
To be very clear about this, when you have some positions open, your trade window will list two numbers: equity and margin. The margin call is nothing, you can simply ignore it, all it does is print a message. The stop out is when your positions are closed and right now it happens when your equity falls below 30% of the margin used. In the future, it will happen when the equity falls below 50% of the margin used. Sure, it might seem like a dramatic increase, but if you're in danger of a stop out, you're doing something very, very wrong with that account.
Either way, take a look at your current equity and used margin; chances are you're very far from a margin call or stop out.
To be very clear about this, when you have some positions open, your trade window will list two numbers: equity and margin. The margin call is nothing, you can simply ignore it, all it does is print a message. The stop out is when your positions are closed and right now it happens when your equity falls below 30% of the margin used. In the future, it will happen when the equity falls below 50% of the margin used. Sure, it might seem like a dramatic increase, but if you're in danger of a stop out, you're doing something very, very wrong with that account.
Either way, take a look at your current equity and used margin; chances are you're very far from a margin call or stop out.
Membro Desde Jul 24, 2011
150 posts
Aug 05, 2011 at 15:37
Thanks again. I see that new policy is from August 8th. I have already made a screen capture just for comparison. Also my daily trade statement shows the (current) level .
Membro Desde Jul 24, 2011
150 posts
Aug 06, 2011 at 09:41
(editado Aug 06, 2011 at 09:42)
Do you think is it wise to leave the bot Monday offline because of this? It is very fundamental news. https://www.ft.com/intl/cms/af2c4fac-bfc2-11e0-90d5-00144feabdc0.pdf
United States of America Long-Term
Rating Lowered To 'AA+' On
Political Risks And Rising Debt
Burden; Outlook Negative
United States of America Long-Term
Rating Lowered To 'AA+' On
Political Risks And Rising Debt
Burden; Outlook Negative
Membro Desde Jul 24, 2011
150 posts
Aug 06, 2011 at 10:03
Yes, in the worst case it will be three times the stop loss of 120 pips if the bot opens 3 pairs simultaneously. And than maybe another hit of 3 pairs simultaneously. So that is a loss of 3x120 3x120 = 720 pips. That is not so bad... I leave it on
Aug 06, 2011 at 10:05
Well, if you're worried switch it off. Seriously, if you have the time & patience to babysit your EAs and stop them when you consider it prudent, you will generally have better results than the mass majority. However, it's not an easy task determining which events to consider and which events to ignore and keeping up with the news all the time.
Membro Desde Jul 24, 2011
150 posts
Aug 10, 2011 at 16:09
(editado Aug 10, 2011 at 16:09)
Be prepared the CHF being intervened soon
So I expect the coming months some heavy loses of this currency pair
source: https://traderdannorcini.blogspot.com/2011/08/central-banks-losing-in-wars-of.html
But it is all temporary of course
So I expect the coming months some heavy loses of this currency pair
source: https://traderdannorcini.blogspot.com/2011/08/central-banks-losing-in-wars-of.html
But it is all temporary of course
Aug 13, 2011 at 10:03
(editado Aug 13, 2011 at 10:03)
I wonder why this bot it is performing so bad since the begining of August. Market conditions have changed significantly in august. High volatility, wild moves in a single day, etc, but it would be interesting to know why it performed so poorly during this period. Maybe just the developer can aswer that.
For those considering this bot, maybe this is the right time to start after this dd. Just my 2 cents.
For those considering this bot, maybe this is the right time to start after this dd. Just my 2 cents.
Membro Desde Jul 24, 2011
150 posts
Aug 13, 2011 at 11:20
trader757 posted:
I wonder why this bot it is performing so bad since the begining of August. Market conditions have changed significantly in august. High volatility, wild moves in a single day, etc, but it would be interesting to know why it performed so poorly during this period. Maybe just the developer can aswer that.
For those considering this bot, maybe this is the right time to start after this dd. Just my 2 cents.
The answer is given above: Intervention
My two cents
Membro Desde Jul 24, 2011
150 posts
Aug 15, 2011 at 15:53
Looks like another 120 pips loss of the USDCHF is coming. This aint funny anymore. 😭
Aug 15, 2011 at 16:17
My2kelsilver - you should be expecting this heavy drawdown because you set your position sizing to 5%. This is VERY aggressive.
So you should expect 30 to 40% drawdown - more if you set the aggressive 'trade more lots' when losing feature.
So you either tone down your postion sizing to a reasonable percent if you cant handle drawdown, or if your greed wont let you tone it down, learn to cope with big drawdowns.
If you are new to trading - take this as a lesson, so next time trade with a much smaller % risk. Birt and I both trade on 2% risk. We rarely see over 20% drawdown, and we are adequately rewarded.
You will end up making more money than us in the long run if you leave it at 5%- but your ride there will be MUCH scarier.
So you should expect 30 to 40% drawdown - more if you set the aggressive 'trade more lots' when losing feature.
So you either tone down your postion sizing to a reasonable percent if you cant handle drawdown, or if your greed wont let you tone it down, learn to cope with big drawdowns.
If you are new to trading - take this as a lesson, so next time trade with a much smaller % risk. Birt and I both trade on 2% risk. We rarely see over 20% drawdown, and we are adequately rewarded.
You will end up making more money than us in the long run if you leave it at 5%- but your ride there will be MUCH scarier.
Membro Desde Jul 24, 2011
150 posts
Aug 15, 2011 at 16:20
(editado Aug 15, 2011 at 16:40)
No, have set not set my position size to 5%. I have set it to 2,5% long time ago. But even with 2.5% you have no funds anymore after 10 times the 120 pips loss. I am certainly not new to trading. But I am new to trading with bots. Good luck and thanks for your advice. All the best.
EDIT: the 120 pips loss has occurred now more than 6x the past two months. 4 times to go
EDIT2: It seems that miracles still exist. No loss this trade....
EDIT: the 120 pips loss has occurred now more than 6x the past two months. 4 times to go
EDIT2: It seems that miracles still exist. No loss this trade....
Membro Desde Jul 24, 2011
150 posts
Aug 24, 2011 at 08:17
I have noticed no updates anymore for this bot?
Updated: Aug 22 at 23:36
Is it shut down? I hope not.
Updated: Aug 22 at 23:36
Is it shut down? I hope not.
