Electra EA ** Released to Elite Members ** - page 3

live

Hi project1972,

well from your above statement and also since you said that you trade electra live, if you don't mind sharing, what do you think about your own system? And also how has the trade history been like?

And one more thing, my friend was telling me about a breakout trade system, do you know any? or where i can find more info on these kind of systems?

I like Electra very much and I trust on it, but my opinion it's not relevant, you should get your own conclusions if you will risk your money, remember that I can be wrong like everyone else, I make dumb things from time to time, I am human, but I am not afraid to recognize it, In fact the only way to grow is learn from our own mistakes. That's why I let to you the responsibility of analyze the system and use it only if you like it, and please never base your decision in everyone else opinion.

Electra is a system that will lose money on ranging markets but will make very good money on big trends or swings, because that its capable of suffer a long time period of losses trying to catch a trend. but it will recover fast when it catch a trend.

After some pairs lock into profit, because their got into a trend you stop worry about losses because you are locked into profit, you only ride the trends, of course, your equity will go up and down every day, but that's the market, its normal, you have to tolerate it and sit to wait, that's all.

The most difficult period of Electra is the starting phase, this the time when most loses happen, because there is not any pair locked into profit.

Breakout system are very good, there are many, free, privates and commercials.

The problem of Breakout system is that they suffer from traders effects, because that, they are the most difficult systems to tune and maintain, most public ones already had they day at least with public settings.

I use a own made profitable private Breakout system, but this the only system I will never release and not any of his rules, I am totally sure that if it hit the street it will stop working in a short period of time.

There are many breakout systems posted here, the most popular are Hans123, TPE and SBS there are also the couter Breakout systems I think that 20pips is one but i am not sure, but forget about public setting you need to find your own one and maybe re-code some parts to add few unusual rules....do you home work, and if you find a good set of settings for breakout systems...don't disclose it. Remember that there is people with big money watching forums..if anyone find a good set of rules they will alter the market exploiting it with big money...

In the other hand, Electra is very general and common trend following or swing trader system and not prone to suffer from "trader effects".

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Trader effects:

The fact that a particular method has made a lot of money in the recent past increase the likelihood that other traders will have noticed it and will start using similar ideas, increasing the chances that the method will not work as well as it did initially.

The strategies more prone to traders effects are the breakout systems, there are many strategies created only to exploit the flaws of the most common breakout systems, the counter breakout strategies.

Trader effects exist, this not a guess, is a fact, turtle traders used some obfuscation methods to help on this matter.

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Hello project,

You have some winning positions, opened on 19th and 20th which never opened here. Since last Friday I had AUDUSD closed +1, same for USDCAD and EURUSD floating in ++ve.

Nothing any close to your trades. Platform dependent? FXDD live here!

Thanks mate!

dxtrade, yes, Electra trade well different from one broker to another, I still don't have a definitive conclusion but I see a very different results at NF for example and FXLQ also are different trades, IBFX live is also different at demo results, although in the end the larger TP and small SL should come to play and bring the edge at our favor.

It appear that the system trade with much more frequency on brokers with a filtered data-feed, like IBFX, FXLQ, Velocity, etc but its too early to draw a conclusion

I am using default settings.

Till now is working fine and profitable at IBFX demo and live, but the starting time is a factor, if you started the EA few days ago, probably still is under the water. Remember that the EA close the loses and ride the winners.

I just started testing FXLQ few days ago and it is still in negative territory

I only want to show how the equity and balance of Electra change every day, as market does, but after a time when you have winning orders for some hundred of pips you are in the safe side.

I want to point that this demo account at IBFX started with 50K it dropped to almost 35K at the start-up but at the same time his Account Equity turned green after a week, and today is at 79K

Unfortunately the guys at IBFX started to delete the all the history over 200 trades, and few week ago they also deleted the history of all demo accounts with more than 100 trades, that's why yo can't see the complete history of this demo account.

Same thing happened with IBFX live accounts, the account balance started to drop but the equity went up until the account turned green, first with the equity and after with the balance.

FXLQ continue dropping his account Balance, but in the other hand the account equity is almost at the point to get in the green level.

looking for a break out system

hey project 1972!

thanks for your answer. i will continue my forward testing for at least 6 months from now before even considering going live. i have a question: do you know a good break out systems which didects a sudden change in the market? i still think that my concept running 2 acounts of martingale based system alongside ea's of your kind is a good idea.

thanks ahead for your help.

As I tell before, breakout systems need a constant tune-up with the market condition, do not expect to find one that will work for long term with the same settings.

You have 2 ways:

1 - Or you take one of the free available, and do the work yourself to keep it working with constant change of the settings though optimizations.

2 - Buy a commercial one where the author do the work and provide you with the new set file.

There are good commercial breakout systems, and they work, but I will not name any or endorse any.

The most important thing to evaluate a commercial breakout is the post-sale author support. If they don't provide support though new version or set files to handle the changes in the market, basically is a worthless system.

To handle this post-sale support most developer charge a lease fee or a subscription fee, this will make those systems expensive and not affordable for the owner of a small mini account.

Unfortunately, the better systems can also be the most expensive ones.

The best Breakout systems are the ones designed to fool the counter breakout strategies, and they use market orders drive with perfectly tuned indicators.

If you will go this way, look carefully, check if it work with your broker and ask for at least one year performance results.

And don't expect to turn millionaire overnight, few thousand pips each year with a reasonable low risk MM is ok and fine.

Elite Account Analyzer

Hi Project 1972

I am interested in the "Elite account anaylyzer", I've looked everywhere for a download of this and can't find it, would you be so kind as to point me in the right direction.

Thanks

As explained here EliteAccoutAnalizer is a private tool and I am not the original Author of this tool, because that I am not allowed to distribute.

But I will try to code something similar for TSD based on Bal_eq_ind indicator.

I have been running this EA for 2 daysnow without a trade - am I doing something wrong - I am using the default settings