Software based Forex trading.

sAVaGEmP5

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Ah, but that's the thing - this strategy does have lots of risk exposure at any one time. If it gets into a losing trade, it starts doubling-up-to-catch-up.

It's not a classic martingale, but it does follow the martingale double-up-catch-up strategy, and it doesn't have built-in stoplosses.

I'm not opposed to automated trading or algo trading in general - it's just this strategy in particular that I have a problem with.

I dunno if it does the double down or gamblers ruin... What I meant is if its taking positions normally, eg. at most 2 positions a day and closed "intra day" (though FX being 24hrs), then it should be "ok".

That will depend on the strategy, no. of ppl following, and size it can handle.

On how to prevent a blackswan wipe out, I suggest u can at any 1 time, disable the system, eg. EA, Collective2, zulu trade etc to "manage" your acct and ability to close out. Meaning human can intervene at any 1 time.

But then again to do that, you might have to monitor it closely to intervene, because blackswans, a drop in x% for eg. yesterday the news at 3am, can happen anytime anywhere.
 
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Shiny Things

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I dunno if it does the double down or gamblers ruin...

Blobby, care to answer this one? You and I both know what the answer is.

Update: Screw it, can't be bothered waiting for him. The answer is that yes, it does the double-down/gamblers-ruin thing.
 
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alexchia01

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Anyone who is interest to know are always welcomed to find out more and have all your questions answered. I don't think it's fair to them for me or anyone who does not have a complete understanding to comment too much? Shiny Things is not wrong but things are not so straight forward??

OMG... If you didn't answer, I thought Shiny Things may has mistaken that your system is martingale style. Now you confirm it's martingale.

Martingale is a gambler's strategy, not a trader's strategy. You may win most of the time, but it only take 1 losing street to wipe you out. No professional trader will recommend martingale style.

Now I know why the develpor is selling this software, it's a short-term mini wins, but long-term sure loss system.

Please don't say it's complicated. Trading is simple, very simple to understand, just difficult to execute. If you think it's complicated it's either you don't know what is happening or you know, just trying is discourage others from asking.

If your system is truly martingale, I suggest you stop using it at once. This system always blow up sooner or later.
 

lookers

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OMG... If you didn't answer, I thought Shiny Things may has mistaken that your system is martingale style. Now you confirm it's martingale.

Martingale is a gambler's strategy, not a trader's strategy. You may win most of the time, but it only take 1 losing street to wipe you out. No professional trader will recommend martingale style.

Now I know why the develpor is selling this software, it's a short-term mini wins, but long-term sure loss system.

Please don't say it's complicated. Trading is simple, very simple to understand, just difficult to execute. If you think it's complicated it's either you don't know what is happening or you know, just trying is discourage others from asking.

If your system is truly martingale, I suggest you stop using it at once. This system always blow up sooner or later.

Yap, if it's martingale theory, then u better be prepared to lose X times and yet have enough capital to win at the X+1 times =)
 

Futureskid

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You siao ah?? hahaha...I am BEGGING people to go ask questions to go understand the system!! But don't ask me..you or anybody who do not have a complete understanding of the system. I have been saying all along that my understanding is only to a certain extend. I know how to use it, how to customize it and the basic underlying principals. However if you want to go into the nitty gritty, you are looking at the wrong place. It's strange how you know so much about something that you haven't even seen it. Yes I know. You have 20 years experience, you have seen everything. Everybody should be grateful for your valuable advise.

heh..I don't know what your agenda is, but you seem to be aggressively attacking this even to the point of twisting and turning the facts just to make an argument.

Oh well..you are free to saying whatever want. Ultimately it's up to the people reading to judge for themselves. What you have said it either rubbish or nothing new that haven't been addressed. So unless you have anymore new revelations or trading tips...I think I will just leave it as that. Good luck!!

Hey, u haven't reply me what is your company's name?
 

alexchia01

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You siao ah?? hahaha...I am BEGGING people to go ask questions to go understand the system!! But don't ask me..you or anybody who do not have a complete understanding of the system. I have been saying all along that my understanding is only to a certain extend. I know how to use it, how to customize it and the basic underlying principals. However if you want to go into the nitty gritty, you are looking at the wrong place. It's strange how you know so much about something that you haven't even seen it. Yes I know. You have 20 years experience, you have seen everything. Everybody should be grateful for your valuable advise.

heh..I don't know what your agenda is, but you seem to be aggressively attacking this even to the point of twisting and turning the facts just to make an argument.

Oh well..you are free to saying whatever want. Ultimately it's up to the people reading to judge for themselves. What you have said it either rubbish or nothing new that haven't been addressed. So unless you have anymore new revelations or trading tips...I think I will just leave it as that. Good luck!!

1. You ask people to ask questions, yet you said don't ask you because you don't know the software well enough. But there is no other way to get answer except through you. You didn't give alternative way to get answers and you don't say what software you promoting, so we can't do any proper research, except information from your postings.

2. I don't have any agenda because I don't make or loss money when someone buys or not buy your software. But, you, in the other hand, have an agenda, You are trying to sell a software that you used only for 2 months, in order to recover your cost. You don't even know the system works or not in the long-term.

3. I quote from previous posts;

"From sAVaGEmP5: I dunno if it does the double down or gamblers ruin..."

"From Shiny Things: The answer is that yes, it does the double-down/gamblers-ruin thing."

"From you: Shiny Things is not wrong but things are not so straight forward"

Didn't you just admit this is a double-down/gamblers-ruin thing? This is called martingale style, if you don't know.

It's because of this that I rebut you. If you just promoting a software, I have my doubt, but at least it's still a trading strategy. But when your strategy is a martingale strategy, it's no longer a trading strategy, but a gambling strategy. Then I've warn others about this kind of startegy.

Instead of rebutting my accusation, you goes into personal attack, saying that i talk rubbish and can't judge because we have not seem the software.

A car is a car, I don't need to see your car to know it's a car. But when you are selling a car without breaks, then i must warn others. Why I know it has no breaks because you just said so.
 

alexchia01

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BzGFkAR.jpg


Days traded: 98
Profit: $1,065.70
Capital invested: $8,000 Monthly returns: 4.07%
TOTAL RETURNS: 13.32%

Slight drop in profit due to sudden plunge around the early morning of 27 Aug. Software reacted accordingly and damage was minimal. Contrary to some of the resident experts, no account was wiped or halved. End of the day, I can only provide results and sudden fluctuations like this are just helping me prove my point, I don't just talk. Take all the data and proof available, do your own research and make your own decisions. Beware of people with hidden agenda, he will fear monger...smear..do whatever it takes to achieve his objective.

Yes, i've an agenda, I want to protect you from some salesman who just want to sell software to you to recover his cost. He don't even know if the software works or not in the long-term.

3 months data is hardly proof of anything. It has not gone through any real market fluctuations yet. Market is so tame this year. Anyone can make money this year, you don't need a software to do that. When real market volatility hits, that's where the real risk comes.

If you still want to go ahead, at least find out how it performs in last 5 years, not just 2008.

I'm done posting here. This will be my last post on this thread. Good luck.
 

CookieMonsta88

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hi, just curious, whats the trade statistics like for more than 50 trades? the win/loss ratio, the rr ratio, trade timings, also whats the average loss to average gain like? is there any principles to back this system up? i am interested in getting more information abt this ea
 
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CookieMonsta88

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You have complete control of your trades, with the usual scripts to close all open positions and things like that. I don't see why people are so worried that the EA will all of a sudden empty the account. They need to know that our lot size used is much much smaller then what some of the manual traders are using. Unless of course if the user of the EA wants higher faster profits then that's a different story.

As for the sudden drop on early Tue morning, it was more like a non event for me. The software did not go crazy and started doubling down on all my open positions or anything like that. It did affect my long but they recovering. I have seen higher floating lost during "normal times". I'm only starting with 0.04 and with enough capital and correct settings, I don't see any problems weathering through all these ups and downs.

Took some extra time to monitor what the EA is doing yesterday. This was what I saw, similar to what I see everyday.

The screenshots were taken yesterday and this morning at various times. You can see the time on top.

TvcH3z5.jpg


QBjiQ5j.jpg


SSO3gux.jpg

erm, this doesn't look good, especially the rr ratio, compared to the wins, not to say that algorithmic trading is not possible, but it seems like the ea doesn't do proper trade management, and allowed such big and consecutive losses, does the ea use any kind of hard stoploss or something?
 

pandasr

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As others have pointed out, this ea's money management probably follows a modified martingale strategy. I would venture a guess that its a mean reversion type of trading probably using some sort of macd, RSI, cci etc type indicators for oversold overbought conditions.

So just beware when conditions change for GBP and it really starts to trend. It means time to get out. Given the wild nature of GBP, and the presence of martingale, be very careful.

Then again, after saying that, I would think that there are people out there right now that thinks that they can tell when conditions have changed and interfere with the ea and suffered losses. So even automated trading is not without its pitfall... Hell if u are knowledgeable, hell too even if u are not...

Given what I know about ea's, this is probably ran server side to prevent downtime.

From an academic point of view, I'm pretty curious about potential scenarios if this does take off and a large number of people is trading the same strategy with the same broker in an OTC market.


Be well.
 
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CookieMonsta88

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I invite you to attend the presentation. Over there you can have all your questions answered.



What you are looking at are the open positions I had at that time. Just "floating lost" or "paper lost" like in the stock market. Just set your trading parameters and the EA will trade according to your "risk appetite". Don't be overly concern by these open positions, it's perfectly normal, even for the manual traders. The EA will know how to deal with them.

erm, sry, but i will only use the EA if i know everything about the EA which is the edge, setup, the entry rules and the exit rules and money management as well as trade management, in its entirety, and also to be able to show that any logical fallacies in the trading system is not present or can be garaunteed a risk of no more than x pips

any EA is but a purely mechanical system made into an EA, so unless the system is sound, the EA will not be sound, also TS, it only need 1 loss to kill the account, if there isn't hard stop loss to help out, so im skeptical about this, since theres a very high correlation between high stop loss to tp ratio vs high win to loss ratio, so if the stop loss to tp ratio is rather high like 3stop loss to 1 take profit, it might be hiding some true scenarios in the market
 

Shiny Things

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(What does) EA stand for?

"Expert Advisor", which is gullible-FX-retail-punter talk for an auto-trading bot.

Here's the thing to remember about magic money-pooping auto-trading robot EA thingies: if they actually made any money, people wouldn't be selling them or giving them away online, they'd be keeping them secret!
 

stocklah

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"Expert Advisor", which is gullible-FX-retail-punter talk for an auto-trading bot.

Here's the thing to remember about magic money-pooping auto-trading robot EA thingies: if they actually made any money, people wouldn't be selling them or giving them away online, they'd be keeping them secret!

oic... actually, my boss in my previous co. who is a fund management house told me, that he will sell average strategies but keep the good strategies. :o

p.s: thx correcting my grammer :s13:
 

Knight_Rider

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EA use technical indicators which will fail when the market goes for stops hunting. Very often when it's too over-bought or sold price still goes the same direction. Damm even price action also kena bluff what are indicators.
 

Knight_Rider

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"Expert Advisor", which is gullible-FX-retail-punter talk for an auto-trading bot.

Here's the thing to remember about magic money-pooping auto-trading robot EA thingies: if they actually made any money, people wouldn't be selling them or giving them away online, they'd be keeping them secret!

Haha can see that you are still against EAs. :D
 
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