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I want to share some live trading experience with this EA and FAPTurbo. The seemingly fantastic backtesting results cannot be trusted. When you put this EA or FAPTurbo on an actual live account, it performs very differently as compared to a demo account. If you are lucky, you might get a series of good trades which net you some small profits. But once you are hit with 1 or 2 bad trades, your profits will most likely be completely wiped out. This is a common characteristic of scalping strategies. If you can live with this heartache, then that's fine but the worst thing is when you are hit with a bad loss and this loss doesn't show up in your backtest, then it's time to start worrying about whether this EA is reliable or not. Since rdb did not release the source code or provide detailed explanation for the individual settings, there is no way for us to check for bugs or to even understand why the loss was hit or why the bad trade did not exit earlier based on certain settings which were set based on some assumptions about their functions.
So my advice to those who still harbour hopes of using this EA to make money, pls monitor your trades manually and close them when you don't hit your profit target between 5-20 minutes. I think rdb would be doing everyone a favour by making the MinuteForClose parameter work as it should be. Currently, I believe this parameter is not working. I also observe that a great majority of winning trades took about 5 to 20 minutes to close. So if this bug can be fixed, then there is still a small possibility that this could turn out to be a profitable EA when the spread is <=4 ticks.
Pls feel free to correct me if you have different live trading experiences. I'm sure lots of people would be interested to know how you can set up this EA to run profitably on a live account.
Quote:
Originally Posted by cameronqueen
This is an excellent EA and even if you don't really feel it it would be courteous to put your point across in a nicer way - not very good for _rdb_ who has put a lot of time and effort into this, as have other people in testing it, to then just get slagged off because someone cant make the EA work for them!
At the moment trading is volatile so the EA tends to get caught into trends and losing trades later in the session - so DONT just expect it to change its settings, use your own brain for once and reduce your session length (i.e. 22 - 02 only) and it will work again fine.
Come on people... Lucky helps, but don't expect it to make you breakfast as well! A bit of patience and thought and this EA can achieve more than most EA's which are definitely not free!
It dont work, non of these things do, learn to trade properly and not look for an easy option, that way you deserve what you get.
Great work Big Al, that is the second, 1-line, super-constructive thing you have said in 2 pages of this thread. No one is asking you to use Lucky so if you don't believe there is any worth in EA's then kindly p*** off somewhere else and stop posting nonconstructive drivel on this thread.
Whether you believe in EA's or not, _rdb_ and most people involved i nthis discussion are working hard to try and make this happen so its pretty disrespectful to post comments like that.
If it stops people wasting money on this sort of rubbish then it is very constructive indeed, but if idiots like you are determind to screw up then great
Wasting money? Sorry but perhaps you can't read the title of this thread.. idiot. "The Best Free EA"
If you are suggesting losing money as in using Lucky on a live account then you're pretty naive to think anyone os going to throw an EA on live without testing and refining.
How does this EA work with accounts that have "fractional pips"? do I have to multiply all TP and SL levels etc. by a factor 10 or doesn't this one use the "Point" variable to calculate those levels?
Linear Mode
