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forex_trader_53345
Členom od Nov 13, 2011
53 príspevkov
Dec 12, 2011 at 11:01
Hi CanAm
CanAm posted:
paulrozza posted:
My observations re: DD is that this EA recovers well from it (I know I and others actually look forward to periods of DD because the recovery brings in great profits).
Hi Paul
Just wondering what you mean by this?
My experience is that heavy DD, ie; keep doubling in in the hope it'll come good doesn't net huge returns as when it does eventually decide to close out half the trades are closed at a loss and the other half at profit?
Whilst there is the odd reasonable profit it is usually eaten up by the opposing losses?
Essentially, a winning trade (under normal circumstances) with a risk setting of 1% is profit of 0.03%, ie; $3 in every $100 (theoretically) risked.
You are entirely correct, but the recent DD on EUR/JPY and USD/CAD on my TEA account brought in significant profits when a pullback occurred. I can only assume from my short time live trading this EA and the observations that I've made is that significant trades are sometimes made in the opposite direction of a trend (EUR/JPY showed this to me as increasingly larger sell trades were made as the pair devalued) Essentially, this had the effect that as the pullback occurred, the very last largest trade went to significant profit quickly subsidising the loosing trades to a profitable position across the entire basket. As fughe and others have correctly pointed out, this could cause havoc on a massive trend going against your trades, but I am yet to see this and I am only trading the 5 most liquid pairs.
Členom od Jan 31, 2011
724 príspevkov
Dec 12, 2011 at 11:03
CanAm posted:
Good explanation Fughe
I think the only thing that isn't covered though when we talk about risk is that no matter what you set 'risk' at it is largely ignored isn't it?
ie; if the s/l is a mandatory 600 pips and lets assume that with a trade size of 0.01 you achieve this 1% the whole process goes out the window when it starts taking other trade sizes, as in, 0.02 is 2% and 0.1 is 10% and in the case of one of my largest trades of 0.27 that is 27%.
Now, the trade size has got that big because its in a losing siutation and just keeps adding to it, and adding, and adding......, so with multiple entries in that currency its not hard to have a total exposure of 0.9, or 90% in my case. I'm not sure if it will just keep opening positions infinitum or if it eventually gives up??
I haven't actually figured out, or seen explained yet what the 'risk setting' is actually there for other than to set the maximum trade size for the very first entry only?
So in reality, whilst unlikely, it is probable to have the 'overnight wipeout' that people are asking about don't you think?
It will open 19 positions before stopping. The first 3 are equal in size (which everyone already knows). The 19th will be 140 times the size of the first. So....if you start with 0.01 lot, the 19th would be 1.4 lots. At this point, I would like to add....the chance of you getting there is near zero. The market would need to move an estimated -900 pips without a significant pullback. Also...keep in mind....the pullback to TP is a ways above breakeven. So if a person were terrified and felt they had to get out of this set of trades...they will likely have many opportunities to close at breakeven or slightly better. Once it goes into martingale, it seems to do a factor of 3 everytime (3x, 6x, 9x, etc).
You are correct about the risk setting. It is only for setting the size of the initial trade, not an actual amount of possible risk. The reason is, if they were to explain the amount of possible risk, nobody would ever consider buying it. Anyway.....just reminding everyone again....keep your risk low at all times and you will be fine with TEA. So pull up a chair and have some TEA! 😁
Make losses, but always come out a winner at the end.
forex_trader_53345
Členom od Nov 13, 2011
53 príspevkov
Dec 12, 2011 at 11:15
Hi Peggy
peggy posted:
BTW are you trading this EA with your own broker or with the mirror? At this stage I prefer to use my own platform. It seems a bit complex to put money into the mirror setup, not a simple credit card transaction like with most brokers. The demo I had running alongside my live account (same pairs and capital) didn't do anything better that I managed, so I don't feel like I'm missing much by not rushing to a mirror account.
I for one am trading the mirror account with WPFX. It's convenient to run the mirror for me as I have no fear of MT4 crash, server reboot etc (I'd run the MT4 EA on a VPS if I was not using Tradency but VPS's need to be restarted/upgraded/patched sometimes too). I don't think you'd see very much variance assuming the same pairs, risk level, capital etc (I didn't on demo), but Dustin has stated previously that they may cease development of the MT4 EA and concentrate solely on the Tradency Mirror Platform (please feel free to correct me on this if I have misunderstood and made the wrong assumption!), as I believe it's a lot easier for absolute newbies to make errors on the MT4 EA versus Tradency, and of course no-one wants a user to loose faith if they have made an error setting it up in the first place.
So in summary, if you're fine with the MT4 EA, all is well.
Členom od Jul 15, 2010
18 príspevkov
Dec 12, 2011 at 15:39
All:
Thanks for the responses to my post. I look forward to further discussion.
Tom Y.
Thanks for the responses to my post. I look forward to further discussion.
Tom Y.
Členom od Jan 06, 2011
6 príspevkov
Dec 12, 2011 at 17:31
Hi Paul
Thanks for response re Mirror Trades. There was some discussion about concentrating on the Tradency platform in the future, but I took that to mean that they may not offer the product as an MT4 option to new purchasers. Will have to listen to the seminar again (or maybe Dustin will clarify if he reads this post). If they did concentrate on Mirror accounts in future, would there have to be any separate development needed for the MT4 signals, (which presumably are the same as Mirror at present)?
I am interested in using the Mirror service, but found it not exactly simple to send funds. I don't want to do the bankwire, preferring to use visa, but the other 2 options did not seem upfront about charges, neither could I find out how much I would need to deposit to convert to the US dollar amount I want to use.
Also, I was hesitant about funding the Mirror account during December as I'm not sure that its a good time to activate it.
Are there any other Mirror users out there who can talk a bit about their funding experience and hopefully how simple it is 😄
Thanks for response re Mirror Trades. There was some discussion about concentrating on the Tradency platform in the future, but I took that to mean that they may not offer the product as an MT4 option to new purchasers. Will have to listen to the seminar again (or maybe Dustin will clarify if he reads this post). If they did concentrate on Mirror accounts in future, would there have to be any separate development needed for the MT4 signals, (which presumably are the same as Mirror at present)?
I am interested in using the Mirror service, but found it not exactly simple to send funds. I don't want to do the bankwire, preferring to use visa, but the other 2 options did not seem upfront about charges, neither could I find out how much I would need to deposit to convert to the US dollar amount I want to use.
Also, I was hesitant about funding the Mirror account during December as I'm not sure that its a good time to activate it.
Are there any other Mirror users out there who can talk a bit about their funding experience and hopefully how simple it is 😄
Členom od May 14, 2010
18 príspevkov
Dec 14, 2011 at 15:01
Soooooooooooooo, why no updates for two days?
Členom od Nov 06, 2011
181 príspevkov
Dec 14, 2011 at 15:20
I think the reason is that there is now a forum up and running in the member's area and probably part of the conversation has transferred over there.
Not the same I guess as it does not include the opinion of non registered but....
Not the same I guess as it does not include the opinion of non registered but....
Členom od Apr 28, 2010
93 príspevkov
Dec 14, 2011 at 15:28
tradingshed posted:
I think the reason is that there is now a forum up and running in the member's area and probably part of the conversation has transferred over there.
Not the same I guess as it does not include the opinion of non registered but....
That would not seem to have anything to do with the fact they have stopped updating the chart...
Členom od Jan 25, 2010
48 príspevkov
Dec 14, 2011 at 15:37
I was thinking the same - thought I'd hold back to see if anyone woudl comment given the last couple of days events.
I was wondering if everyone had gone quiet due to heart attacks after the overnight drawdowns!
In my case -11% overnight to a total of -25%
Now clawing its way back to -20% at the moment.
I was wondering if everyone had gone quiet due to heart attacks after the overnight drawdowns!
In my case -11% overnight to a total of -25%
Now clawing its way back to -20% at the moment.
Členom od Nov 06, 2011
181 príspevkov
Dec 14, 2011 at 15:42
HI, mmm interesting, did not noticed the chart.
At this moment, my DD is around 8% but it has touched 10%. I can imagine some heart attacks though. EURUSD is truly plunging. At least we will get a picture of how the EA behaves in extreme circumstances.
Dustin, why is the chart off?
At this moment, my DD is around 8% but it has touched 10%. I can imagine some heart attacks though. EURUSD is truly plunging. At least we will get a picture of how the EA behaves in extreme circumstances.
Dustin, why is the chart off?
Členom od Jan 31, 2011
724 príspevkov
Dec 14, 2011 at 15:50
They are probably just holding off on updating the chart until it takes profit on some of these positions it should have open that are in massive DD. It is good marketing to make sure potential clients never see your system in a big DD in realtime. It makes the potential loss seem more real than if it is in the past and they see it has recovered from it. I could be wrong, but i'm probably not.😀
Make losses, but always come out a winner at the end.
Členom od Nov 06, 2011
181 príspevkov
Dec 14, 2011 at 15:52
Is anyone experiencing massive DD out there? would be interesting to post them.
Mine is currently hovering between 8% and 10% Max ever experienced 12%
Mine is currently hovering between 8% and 10% Max ever experienced 12%
Členom od Nov 06, 2011
181 príspevkov
Dec 14, 2011 at 15:53
forgot to mention, Dustin/Tom, is that the reason the chart is off? (as fughe mentions)?
Členom od Oct 05, 2011
60 príspevkov
Dec 14, 2011 at 16:00
Hey Guys, not sure what the deal is with the updating. Am working on trying to figure that out. We are currently in a 1700.00 draw down for those who are interested. This is hardly a draw down at all for a 24k account so we are not trying to hide anything :). By the way, we would not hide it even if it was worse. We are all traders here and we know there are risks so no reason to hide anything. I will warn once again that as we get closer to the holidays you will want to decrease your RL as a precautionary measure.
Členom od Nov 06, 2011
181 príspevkov
Dec 14, 2011 at 16:13
Dustin (?)
I have posted in the forum and sent an email to support with no reply yet.
The EA does not seem to open any shorts as the euro plunges? Fair enough to go through the pain of the longs :-) but let's hedge? I do not have any shorts open, all my open trades are longs (5 of them).
Is it possible that the settings are wrong (ie non-hedging a/c)
I have posted in the forum and sent an email to support with no reply yet.
The EA does not seem to open any shorts as the euro plunges? Fair enough to go through the pain of the longs :-) but let's hedge? I do not have any shorts open, all my open trades are longs (5 of them).
Is it possible that the settings are wrong (ie non-hedging a/c)
Členom od Oct 05, 2011
60 príspevkov
Dec 14, 2011 at 16:28
tradingshed posted:
Dustin (?)
I have posted in the forum and sent an email to support with no reply yet.
The EA does not seem to open any shorts as the euro plunges? Fair enough to go through the pain of the longs :-) but let's hedge? I do not have any shorts open, all my open trades are longs (5 of them).
Is it possible that the settings are wrong (ie non-hedging a/c)
That is easily checked on your account. Open the EA properties and ensure that hedging is set to True. If it is than all is good. I currently only have 1 sell on the eur open at the moment and 5 buys however as the eur has fell it did open one other today that has already closed out with profit. So long story short I only have one buy and its only for .02 lots.
Členom od Nov 06, 2011
181 príspevkov
Dec 14, 2011 at 16:43
OK, I have the same then.
As you are here, this is another question I have posted and emailed support:
A sell trade opened yesterday on EURUSD (so 1 did :-)) without a take profit target and it remained so for a while until I have manually modified it by entering a take profit value in it. The same trade (same order number) was then modified I guess by the EA and the TP target was changed. It has since closed at a small profit.
Is it normal that a trade is entered without a take profit target?
Did Tom's EA modify it afterwards?
As you are here, this is another question I have posted and emailed support:
A sell trade opened yesterday on EURUSD (so 1 did :-)) without a take profit target and it remained so for a while until I have manually modified it by entering a take profit value in it. The same trade (same order number) was then modified I guess by the EA and the TP target was changed. It has since closed at a small profit.
Is it normal that a trade is entered without a take profit target?
Did Tom's EA modify it afterwards?
Členom od Oct 05, 2011
60 príspevkov
Dec 14, 2011 at 16:46
The trades can be entered without a TP but one should be added by the EA at some point. I have seen on occasion that occur but the EA still seems to manage it fine and close it out. I am not the programmer so not sure exactly how it should work but I can say that I have yet to have an order that was not managed by the EA.
Členom od Nov 06, 2011
181 príspevkov
Dec 14, 2011 at 16:49
OK, thanks
As I said, I did enter the TP myself but then the EA seems to have modify it itself.
As I said, I did enter the TP myself but then the EA seems to have modify it itself.
Členom od Jan 31, 2011
724 príspevkov
Dec 14, 2011 at 18:33
GlobalProfit posted:
Hey Guys, not sure what the deal is with the updating. Am working on trying to figure that out. We are currently in a 1700.00 draw down for those who are interested. This is hardly a draw down at all for a 24k account so we are not trying to hide anything :). By the way, we would not hide it even if it was worse. We are all traders here and we know there are risks so no reason to hide anything. I will warn once again that as we get closer to the holidays you will want to decrease your RL as a precautionary measure.
That says a lot for you guys. Thank you for letting us know. This is doing a great deal to prove the trustworthiness of your company.
Make losses, but always come out a winner at the end.
