Ilan1.6 = Queens Money Collector (stopped) Diskussion

I was about to sign up to QMC, but before doing so I had to go through the trading history and see what I can expect in the future.

Here are the things I noticed while checking his open history. I started to write down the rules of the system when and why trades were opened and closed and after checking about 10 baskets of trades I quickly remembered a very OLD and FREE EA that did this same type of trading. This EA is Called Ilan and it has been the beginning of ALL commercial EA that use Martingale + Grid including more than I know but commonly known names suck as ForexHacked, ForexEnvy, Benz, PowerFlow, ForexGridTrader and hundreds more.

Almost every month you will see a variation of ILAN on ForexpeaceArmy with a new setting whether it is the indicator, Grid distance, or the Lot multiplier but they are all the same in principle of strategy. They are Martingale ( LOT MULTIPLIER/EXPONENT ) and they are GRID ( ADD to LOSING POSITIONS)

If you read any older forum about any of these names above, you will find out sooner or later that the account blows from 1 market move. The Strategy is very simple but can be traded in so many different variations and has resulted in everyones OWN TWIST creating hundreds of Commercial Variations and Hundreds of FREE variations.

Google

Ilan1.4 , ilan1.5, ilan1.6, Queens Money Collector = Ilan1.6Dynamic , Ilan16_PipStepRSI, ilan2.0, etc

https://www.myfxbook.com/members/Tatsiana/ilan20-by-tarasov/507566

These systems can make money for several months but can blow your account the next.

If you Sell these systems, Manage Money with these systems, or sell signals from these system, you will often be labeled as a fraudulent hustler and quite dubious for marketing such a system for your own benefit knowing the risks involved for your customers, clients, and friends.

Since Martingale + Grid has such a popular reputation with crashing accounts Myfxbook does not accept these systems in their https://www.myfxbook.com/autotrade program. If your system has characteristics of ILAN, you'll not have any chance of being a signal provider on MFB.

Unfortunately, not all Signal Provider companies have a standard for quality.

What amused me was his introduction post below. The fact that he is here belies his status.

OrtwinRich posted:

Dear Professor!

Anyhow, I would like to tell you a little more about our EA/Signal:

Her Queens Money Collector is not an EA you can buy. It sends signals directly to your MT4 which will be executed some milliseconds later.

I can assure you that Queens Money Collector is a highly developed EA, initially made for Her Majesty (We are not allowed to tell you which Highness it was initially designed for), and later modified for Banks and big Insurance Companies.

Her Queens Money Collector produces about 250 potentional signals every day and all of them will be checked by our account manager personally. Only when he agrees that a signal is logical, than the trade will be executed and some milliseconds later on your account, too.

This EA requires its own server and backtesting is not possible because of the human factor.

I hope I could clarify some misunderstandings here.

Yours sincerely

Ortwin Rich
Sales & Marketing
I-Make-You-Rich.com

What I can tell you today to duplicate his results using Free ilan1.6Dynamic - This is old EA from 2009 and for 4 digit broker. Multiply your setting by 10.

Run on M15 TF
TP = 10 pips

If EA place Buy, it will Grid about 36 pips before next Order. with Lot Exponent 1.5
If EA place Sell, it will Grid about 36 pips before next Order. with Lot Exponent 1.5
EA only trades in 1 direction. This is why QMC use More than 1 EA, to trade in Both BUY AND SELL Direction.

If you look closely to the Image above you will see 2 Orders Enter on same M15 Bar, He is using several Setfiles ( Same EA with different setting on same Pair ) ,

You can see by clicking on the B or S in Trading Browser and Myfxbook will show his Magic numbers. such as 141414 151515 161616

You can see the magic Number Difference. Since Ilan trades Only 1 direction at a time, Running more than 1 EA per Symbol allows trading in BOTH directions and allows a slight hedge but doesn't really help past Level 2+

This account is 100:1 and I already ran out of free margin on the AUDUSD basket. I'll need a new account with higher leverage to run this system

40% in just a few days Ilan you are amazing, but please stop using all my margin. 😇

Hello @RedRhinoLab

I have read many of your posts on myfxbook,
I must say you are really amazing about your EA programming and knowledge of forex trading.

Cool, I bought his EA, same thing, run outta margin so quick, of course his response is you haven't set it up properly lol, anyways, what ive done now is do fixed lots and see where it goes, as long as its making pips, it should be good

thenewguy posted:
Cool, I bought his EA, same thing, run outta margin so quick, of course his response is you haven't set it up properly lol, anyways, what ive done now is do fixed lots and see where it goes, as long as its making pips, it should be good

Same thing for me for the EA, thanks for RedRhinoLab to signal us this FREE ea. At least we don't have pay 20$/month now to risk our account 😉

RedRhinoLab posted:
What I can tell you today to duplicate his results using Free ilan1.6Dynamic - This is old EA from 2009 and for 4 digit broker. Multiply your setting by 10.

Run on M15 TF
TP = 10 pips

If EA place Buy, it will Grid about 36 pips before next Order. with Lot Exponent 1.5
If EA place Sell, it will Grid about 36 pips before next Order. with Lot Exponent 1.5
EA only trades in 1 direction. This is why QMC use More than 1 EA, to trade in Both BUY AND SELL Direction.

Hi,

Do you suggest to place one ea with only long positions and another ea with only short position, both are different magic numbers, or do you put one ea with both positions and different magic numbers?
Thanks in advance
Your account is growing nice, congrats.
Mine too but with nzdusd drawdown is present because ea trades with buy orders actually (the trend is down)
it's why i ask you please your advice for strategy 😉

IF one EA is selling with Magic A, you can set Magic B to Buy Only. This is just partial hedge and doesn't prevent margincall.

No safe way to trade with this EA besides, turning off EA on other pairs when 1 pair starts to Grid ( you must have enough Free Margin to allow the basket to close).

Once basket close, you can turn on EA on other pairs.

Also use Same EA on same pair, with two different Magic numbers with two different Setting ( You choose ). This way two different baskets form at different prices.

Can we really make money with this longterm. Almost 100% gain in just a short few weeks.

 I will add what we need to make a successful martingaler here - https://redrhinofx.com/queens-money-collector-free/

Most importantly we need to allow enough free margin for the worst basket to continue. I would have to stop the other baskets from continuing until the largest basket is closed out. ( that is what I have done with Ilan on this account since it has 100:1 leverage).

I will need to built a margin module, then I can allocate a certain % to each basket on normal days, while allocating more when needed as other pairs are shut down and put on idle.

Today, I have built 1 EA, that trades 7 pairs from 1 chart. It can trade both buy and sell direction using same magic # but now I need to find broker with unlimited Trades ( no maximum limit ) . Do you know of such a broker?

100 Max trades is common and won't be suitable for this project.

11 Lots on $20,000 . No free margin and without a small move down on EURGBP this account will margin call. By far from fun if its your hard earned money.

I am putting a list of all the Ilan version on my website - https://redrhinofx.com/ilan-ea-mql/
Here is a good list of Cent Account types of brokers - https://redrhinofx.com/forex-cent-broker/

You should always use the highest available leverage when using these grid type martingale systems.
Trading with 0.01 lot starting and with a $10,000 balance you can survive for very long time.

If you trade 0.01 on $1000 or less you can experience 100% gains in a few weeks but can also occur 50% DD , margin call, and blown account also. You may get lucky and be able to withdrawal your original deposit and then only risk with your profits.

You can trade either aggressive ( small balance ) or conservatively ( big balance) to suit your investment needs. Today, many traders just want profits at any cost and these free ilans are a great way to do it with out trading experience

RedRhinoLab posted:
I am putting a list of all the Ilan version on my website - https://redrhinofx.com/ilan-ea-mql/
Here is a good list of Cent Account types of brokers - https://redrhinofx.com/forex-cent-broker/

You should always use the highest available leverage when using these grid type martingale systems.
Trading with 0.01 lot starting and with a $10,000 balance you can survive for very long time.

If you trade 0.01 on $1000 or less you can experience 100% gains in a few weeks but can also occur 50% DD , margin call, and blown account also. You may get lucky and be able to withdrawal your original deposit and then only risk with your profits.

You can trade either aggressive ( small balance ) or conservatively ( big balance) to suit your investment needs. Today, many traders just want profits at any cost and these free ilans are a great way to do it with out trading experience

Hi Rhino,

I have 1.8 reborn also to add to your site.. just let me know where to send

thanks Nick, send through PM or to my email : support[at]redrhinofx.com

I see your account failed - https://www.myfxbook.com/members/NikX/ilan-reborn-qmc/1195146 -
With these martingale grid type strategies , we would need full attention to intervene .

Learn anything from your demo experience?

RedRhinoLab posted:
thanks Nick, send through PM or to my email : support[at]redrhinofx.com

I see your account failed - https://www.myfxbook.com/members/NikX/ilan-reborn-qmc/1195146 -
With these martingale grid type strategies , we would need full attention to intervene .

Learn anything from your demo experience?

No problem..

Yes we are underfunded at $10K again system must be run on a cent account (unless you have a large trading budget) at $100K value

Live system with 5 pairs still running nicely https://www.myfxbook.com/members/NikX/tradefort-queen-hearts/1035732 strategy is daily withdrawls untill we have made return on initial deposit, then let it run..