Welcome to Forex-TSD!, one of the largest Forex forums worldwide, where you will be able to find the most complete and reliable Forex information imaginable.
From the list below, select the forum that you want to visit and register to post, as many times you want. It’s absolutely free. Click here for registering on Forex-TSD.
Exclusive Forum
The Exclusive Forum is the only paid section. Once you subscribe, you will get free access to real cutting-edge Trading Systems (automated and not), Indicators, Signals, Articles, etc., that will help and guide you, in ways that you could only imagine, with your Forex trading.
Elite Section
Get access to private discussions, specialized support, indicators and trading systems reported every week.
Advanced Elite Section
For professional traders, trading system developers and any other member who may need to use and/or convert, the most cutting-edge exclusive indicators and trading systems for MT4 and MT5.
As I expected todays news made impact on my tests.
Goblin with yeoeleven settings got bad hit, but what is interesting EA with default settings survived. Since the EAs are different I attached them and set files in the zip. Timeframe H1, GBPUSD, EURUSD, USDCHF, USDJPY.
I note that you lost on the yeoeleven settings when GBPUSD closed on 1.28 units. That is not a MaxTrades10 progression and should have increased two more times that may have saved the loss but of course it could have increased it. You may have AccountsProtect1 with OrderstoProtect2 that would reduce the MaxTrades.
As per my previous post I would never trade the NFP with these Martingale type EAs.
After reading the account reviews on todays NFP trading I am not at all surprised to see some of the accounts blown (should i add as expected or as usual).
No matter how everyone fine tunes the settings and indicators, i like to share my experience on trading 10 point3 and its hybrids like Terminator,Predator and Goblin since several month in 2 IBFX and 1 Alpari LIVE accounts with real money.
1.Do read all available posts in THIS forum and in others
2.Underleverage, underleverage and rethink your leverage ALL the time.Who ever has read my posts in the Terminator/Predator thread has already grasped "my leverage", which is far far far lower than anybody posting its statements so far.I use 1 Nanolot equivalent for EVERY 10K USD account equity, with a maximum of 1:3 on the maximum allowed trades TOTAL $$ amount.If you wish to set "max trades to 10" that means you MUST have 30k USD equity for every Nanolot !
3.Do read articles about correlation of certain pairs and get a basic knowledge about "hedge" trading either on Kokas "HedgeEA" in this forum or in the GMT forum about their approach, when to enter trades on the GBP/CHF and GBP/JPY, if you are brave enough to trade them.I personally do NOT trade GBP/USD at all and the other 2 GBP pairs only in the mentioned hedge system.
4.Try to trade "positive swap" only in the beginning
5.Never trade these EA`s at or before NFP or FOMC reports. Close all positions the day BEFORE and trade a few hours after the reports came out again
6.Use any of these type of EA`s as part of an overall strategy(like "hedge trading"), but never ever 24/6 without monitoring.
7.Once your maximum lots is reached, switch off the EA, use the Bollinger Band hedge strategy to ADD positions(positive swap only) and collect swap until you can exit.Close only single positions manually.
Be prepared, that this exit can take weeks, if not months and that your account will be in a fairly large drawdown during this time.
8.Even trading low volatility pairs is no bullet proofed guarantee to avoid an account blow up, if the leverage is too high.
9.Switch "account protection" OFF, since it will kill your trades on gaps, reenter TP, if you see gaps.
Forget setting max. trades to anything lower than 7.
I like to thank Bluto and all others for the outstanding effort to improve the original 10point3 version. Specially the new Jurik indicators are working excellent to prevent the EA from constantly opening trades.In my opinion this was a key milestone of development.
If you ever go live with Goblin, just remember .............underleverage!
Since several month i am making around 3% p.month in my accounts, which might negatively surprise many folks in here, since the expectation level is much much higher.
I can assure you from my permanent "demo" testing , that any higher target will dramatically increase the wipe out risk of the account, if not today, than maybe tomorrow.
Janus
Last edited by JanusTrading; 12-09-2006 at 01:07 AM.
Thank you for the info.
When you say Junk Indicators are you referring to the Turbo_J* indicators?
also when are the NFP or FOMC reports done? so I can turn of my EA's?
1.Several FX brokers even sent their clients an Email days before these major events, demanding caution on trading
2.IBFX sent out one early yesterday, with a very good series of examples of the past, what has happened
3.Lots of economic calendars out their for free
After reading the account reviews on todays NFP trading I am not at all surprised to see some of the accounts blown (should i add as expected or as usual).
No matter how everyone fine tunes the settings and indicators, i like to share my experience on trading 10 point3 and its hybrids like Terminator,Predator and Goblin since several month in 2 IBFX and 1 Alpari LIVE accounts with real money.
1.Do read all available posts in THIS forum and in others
2.Underleverage, underleverage and rethink your leverage ALL the time.Who ever has read my posts in the Terminator/Predator thread has already grasped "my leverage", which is far far far lower than anybody posting its statements so far.I use 1 Nanolot equivalent for EVERY 10K USD account equity, with a maximum of 1:3 on the maximum allowed trades TOTAL $$ amount.If you wish to set "max trades to 10" that means you MUST have 30k USD equity for every Nanolot !
3.Do read articles about correlation of certain pairs and get a basic knowledge about "hedge" trading either on Kokas "HedgeEA" in this forum or in the GMT forum about their approach, when to enter trades on the GBP/CHF and GBP/JPY, if you are brave enough to trade them.I personally do NOT trade GBP/USD at all and the other 2 GBP pairs only in the mentioned hedge system.
4.Try to trade "positive swap" only in the beginning
5.Never trade these EA`s at or before NFP or FOMC reports. Close all positions the day BEFORE and trade a few hours after the reports came out again
6.Use any of these type of EA`s as part of an overall strategy(like "hedge trading"), but never ever 24/6 without monitoring.
7.Once your maximum lots is reached, switch off the EA, use the Bollinger Band hedge strategy to ADD positions(positive swap only) and collect swap until you can exit.Close only single positions manually.
Be prepared, that this exit can take weeks, if not months and that your account will be in a fairly large drawdown during this time.
8.Even trading low volatility pairs is no bullet proofed guarantee to avoid an account blow up, if the leverage is too high.
9.Switch "account protection" OFF, since it will kill your trades on gaps, reenter TP, if you see gaps.
Forget setting max. trades to anything lower than 7.
I like to thank Bluto and all others for the outstanding effort to improve the original 10point3 version. Specially the new Jurik indicators are working excellent to prevent the EA from constantly opening trades.In my opinion this was a key milestone of development.
If you ever go live with Goblin, just remember .............underleverage!
Since several month i am making around 3% p.month in my accounts, which might negatively surprise many folks in here, since the expectation level is much much higher.
I can assure you from my permanent "demo" testing , that any higher target will dramatically increase the wipe out risk of the account, if not today, than maybe tomorrow.
I note that you lost on the yeoeleven settings when GBPUSD closed on 1.28 units. That is not a MaxTrades10 progression and should have increased two more times that may have saved the loss but of course it could have increased it. You may have AccountsProtect1 with OrderstoProtect2 that would reduce the MaxTrades.
As per my previous post I would never trade the NFP with these Martingale type EAs.
1.Several FX brokers even sent their clients an Email days before these major events, demanding caution on trading
2.IBFX sent out one early yesterday, with a very good series of examples of the past, what has happened
3.Lots of economic calendars out their for free
Jurik indicators means ALL available.
Janus
You mentioned Junk Indicators when you were talking about Goblin and I think Goblin only references the Turbo_J* indicators correct? I don't need to have them actually loaded onto the chart, do I?
yeoeleven settings
Linear Mode
