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Hi, my account was killed overnight. Just 50% of it was left, so the extreme money management worked. I was using the setting suggested by Iron. I think this is a good EA, but a big problem is when a strong trend reverse suddenly and clearly. The critic point in this case is the MA, as with default settings it takes quite a long time to "know" when a trend has reversed and to change from buy-sell, and meanwhile it looses a lot of money. I started today running the 2 pairs eu and uj H4 with MA 10 and with less LAF. Maybe less gain but more prudent. Let's see. I ask Iron if the trend indicator could not be implemented, for example by using the intersection of 2 or more MA or exponential MA, or simply by reducing the actual MA values. Thank you
Hi, my account was killed overnight. Just 50% of it was left, so the extreme money management worked. I was using the setting suggested by Iron. I think this is a good EA, but a big problem is when a strong trend reverse suddenly and clearly. The critic point in this case is the MA, as with default settings it takes quite a long time to "know" when a trend has reversed and to change from buy-sell, and meanwhile it looses a lot of money. I started today running the 2 pairs eu and uj H4 with MA 10 and with less LAF. Maybe less gain but more prudent. Let's see. I ask Iron if the trend indicator could not be implemented, for example by using the intersection of 2 or more MA or exponential MA, or simply by reducing the actual MA values. Thank you
You are using too much risk if it gets killed. I am running two pairs, Euro/USD H4 and USD/JPY D1 and the DD so far is only about 10%. Multiplier at 1.4 only
Interbankfx mini with 0.01 lots and 1 pip = 1 cent.
4th week running now and it has gave me 15% by the third week.
Yes, the reversal causes some DD, but if you know forex, it's just a matter of time when it will rebound. The only question is, does your account has the longevity to wait for the rebound? Those high risk takers will not.
IMO, martingale systems is not to make you rich quick. I cringed whenever someone comes here and say that they had double their account in 2 weeks. It is just a matter of time this account will blow.
Martingale systems is just a proven way to make slow, consistent and steady profit by taking advantage of the characteristic of the forex market. And it does that really well.
Martingale systems is just a proven way to make slow, consistent and steady profit by taking advantage of the characteristic of the forex market. And it does that really well.
Dead on, kwkee. The problem with Martingales is that they make
it very easy to become greedy. This comes from over-sized lots,
under-funded accounts, too many pairs, etc. It pays to be PATIENT.
Once the balance starts to grow, lots can be scaled accordingly,
without adding additional risk.
It's a lot of fun to push the envelope with this EA, and I have done
it many times. But, only in demo. With a live account, the best way
is the conservative way.
Hi Jeff ,
I appreciate your great work in developing my EA , but you should not delete my copyright from EA please fix this issue and always send me the latest version to put it in the first post.
Regards
Done and fixed...my apologizes. Please give me a location where I can send the latest version so it can be posted quickly. I'm usually here daily working issues on Blessing so I can immediately get it on the street.
v/r
__________________
Jeff J Talon Associates Investment Management
You are using too much risk if it gets killed. I am running two pairs, Euro/USD H4 and USD/JPY D1 and the DD so far is only about 10%. Multiplier at 1.4 only
Interbankfx mini with 0.01 lots and 1 pip = 1 cent.
4th week running now and it has gave me 15% by the third week.
Yes, the reversal causes some DD, but if you know forex, it's just a matter of time when it will rebound. The only question is, does your account has the longevity to wait for the rebound? Those high risk takers will not.
IMO, martingale systems is not to make you rich quick. I cringed whenever someone comes here and say that they had double their account in 2 weeks. It is just a matter of time this account will blow.
Martingale systems is just a proven way to make slow, consistent and steady profit by taking advantage of the characteristic of the forex market. And it does that really well.
I was using the same settings on an Alpari demo account with the 2 pairs EU H4 and UJ D1, LAF 1, multiplier 1,4, InterbankFX mini, portion 2, 3000 $ (1500 per pair). MA-period was as suggested 100 for EU and 25 for UJ. In the 2 first weeks + 70% (in a big trend period), then huge drawdown in one day after the trend reversal. I'm a prudent investor and don't want a system to get rich in a short time, put to have a little but regular income with reduced drawdawns. I think Blessing is a fantastic EA, so I will restart with even less aggressive settings, reducing del LAF to 0.5 and trying to lower the MA-period. What do you think?
Thank you for your kind reply and your comments
Folks be careful...this is not a completley true statement...(if you do not believe me take a look at a daily, weekly and monthly). If this were a true statement we would have a straight horizontal line marking the trading path. Yes we get a rebound, but not always back up to the BE.
I am allergic to statements like this: Yes, the reversal causes some DD, but if you know forex, it's just a matter of time when it will rebound.
ES
Last edited by ElectricSavant; 12-21-2008 at 05:43 PM.
please fix this issue and always send me the latest version to put it in the first post.
Linear Mode
