Originally Posted by mtaboneweb

I felt it was also important to mention that I have never gone over 4 trades on the EUR/USD although I did make the changes to SecureProfit and OrderstoProtect to insure a greater profit when they closed with more than 2 positions. What was happening is that by default OrderstoProtect is 3 and when you reached a 3rd position it would be looking to get out with 10pt SecureProfit. My changes to these settings allows me not to panic until I have hit the 4th (less frequent) position and then even when that happens try for 14pts instead of 10.

The USD/CHF just brought my account balance down in a live scenario and has been rising very nicely since the changes and running only the EUR/USD. Also, I never turn off the software. I have never manually closed trades. Anything that happens is allowed to happen regardless of reports, news, the weekend, etc. This may sound dangerous to some and I guess someday it may be but these events all cause the market to actually move rather than flat lining for hours/days. In my opinion, so far, I look forward to these times and has actually helped the market to move enough to close some trades (with a profit every time so far). So far, even if it goes slightly in the wrong direction and opens a 2nd, 3rd, 4th, position it has always backed off a bit before continuing which is where I make a bigger profit because of more trades in larger amounts unless it is 4-6 which is more modest. I don't get upset if it opens 2-3 because I know that the profit will be larger and I still have room/time to close.

Here is an update I just ran which shows 3 open positions that may go to 4 but if it sinks enough it will be a decent profit at 3 trades. The lot sizes are screwed up because I was testing the MM after the 1st position was already open and it seemed like no matter how low I went it would not start below 0.30 lots. Right now I am starting at 0.24 which is right where I want to be. I will have to experiment more.

Thank you to everyone for all the support, information, teamwork, etc. I feel far better with this EA and setup than I have with anything else I've tried in the past 12 months and it's all automatic in 1 piece of software. I have written well over 100 variations of scripts for Intellicharts using almost every indicator available and many combinations with great results thru back testing but always fell apart in a live situation. The idea of opening a double position each time you go in the opposite direction to give you another chance and secure a profit at the same time seemed crazy to me at first but it really does work. The person who originally wrote this EA is the one who greatly deserves my thanks and also to everyone else who has contributed.

Originally Posted by txsundevil

Mtaboneweb:

This is a dangerous EA, that's why I mentioned even with $5K in a live account and that terrible margin of 1:1:00 at Velocity must start with low Micro Account's like 0.02 and build up patiently from there. to start trading at 0.20 lots or so, I would not do it with less than $10K in an account. The only reason that these martingale form of gambling EA's work is the support & resistance in Forex, not like betting on Red & Black in Roulette, the buyer's and seller's are regulating the market that's why at Pivot's etc. they reverse to get the money back, on minor corrections, I was using secure profit of 15 and went back to 10 based on some close calls on CHF I saw last week when it barely hit it and reversed again. One of the problems with this EA is being on the wrong side of a report on Friday, being at maxtrade like (5) and the Forex market shuts down Friday afternoon, and not knowing what to do at that point, suck it up and wait for Sunday Night or close it out, that may be a reason not to put on new postions for the week on let's say Late Thursday Evening US EST. It seems like the major problem is what to do Late Thursday with this EA.

I personally do not like your new settings at 0.15, this is only a $700 account and orders to protect 2, I don't like either, I was a commodity trader for many years now trading forex, I hate to say this but I think you will screw yourself again 0.15 is still way to high. (my opinion)

Originally Posted by mtaboneweb

It's almost like I spoke to soon and screwed myself over. I just had to close a 5 position situation manually. Things I did wrong...