Okay guys/gals I took the plunge. I have wallstreet forex robot running on my live account. I forward test on live accounts its the only way to go.
My live account is fxopen
I will be setting up a demo with hotforex and run it there as well.
As usual I will keep you guys updated. Time to see if this bot is worth the steep asking price. At least I had a coupon code took a little sting out but if this bot is as good as they say than it should pay for itself 10fold.
I will certainly keep you posted. I have a really good feeling about this one. It trades the 4 majors. I haven’t read through the manual but I will today. As I know more I will post more.
well you never know thats why Im demoing Hotforex which did well today btw +11 and +20 on 2 trades. This is however demo and considering the fact that this is a scalper broker feed will be significant with this one. I will keep my eyes open.
I have to take a moment and brag. I’m sorry guys and honestly I am not selling anything here. My account will close out the month with exactly +60% I can’t tell you how happy I am.
I remain watchful and observant of all of my ea’s and I constantly seek to diversify. I feel this is critical if one is to succeed in automated trading. As I add to my portfolio I am constantly cutting my risk back. I am looking for a consistant and steady 40% a month.
My plan is to smooth down drawdown by being diversified.
My portfolio has a trend trader for EU (which as many of you know is the most trendy of all pairs)
My portfolio has a break-out ea that trades the London open
My portfolio has a scalper which trades accross 4 pairs.
My portfolio contains a grid trader with very low risk
Finally my portfolio contains an ea that trades multiple strats
The reason I am saying all this is for you guys/gals benefit. If we cannot keep moving and swaying with the market we will fail. As my account grows my risk shrinks. But tonight I will definitely celebrate 60% that I feel was earned with very careful and watchful risk management.
Not bad results for just three dya of activity. I am really interested, please keep us updated. I also like the idea of diversifying your portfolio with different strategy EA and making your goal of 40-60%.
I realize I am opening myself up to not only scrutiny but possibly being “flamed” but yea this month eactly 60% last month exactly 59%
I have actually been lowering my risk and trying to be more and more diversified while simultaneously testing new things. You know summer’s coming and that could me thinnner markets and rangebound behavior if that’s the case I will lower my risk even more on my trend traders.
Point is by constantly observing and diversifying I believe I can continue to smooth out my equity curve and smooth out any drawdown periods. I can’t keep this risk model forever as the amount in my account become more and more “meaningful” I will certainly be dropping my risk. In some instances I risk as high as 5% but if my account were 250k I think max risk would be more like .5% I plan to constantly keep my risk in check. It is the most important part because if I lose a lot for whatever reason it will just set things back and I would have to do all that work over again. This time in my life I am fully committed to continuous steady growth.
Good luck and I am just doing baby steps trying to follow the same road. Would love to exchange more ideas on what you do to diversify. I am right now using 3 EAs running different strategies and do fairly well. Let me know, if you would be up for exchanging ideas and what not.
Good luck and I am just doing baby steps trying to follow the same road. Would love to exchange more ideas on what you do to diversify. I am right now using 3 EAs running different strategies and do fairly well. Let me know, if you would be up for exchanging ideas and what not.
Might be a candid question, but can you quickly define the difference between “trend” EA, “scalper” EA, “break out” EA and “grid” EA? Thanks
I actually have 2 trend traders, They are Forex Growth Bot and Steady Winner. Steady winner is brand new to me and in test stage. FGB trades at the top and bottom of ranges looking for volatilty to move price through that level and achieve a new level. So trend traders look for a way to trade a trend and make money on big moves
A scalper ea looks to earn smaller profit with larger stop loss. Ideally the poor risk reward is compensated for by a high win rate. WS looks to earn 25-50 pips with a 125 stop loss. So in theory WS should win 4-5 more than it loses I think it would have to win minimum 80% of the time to be profitable.
break out ea’s buy or sell outside of established ranges and usually they have a “volatility” based profit level or s/l level.
Grid ea’s use whatever method to buy or sell. If price moves against them a predetermined amount they will open another trade. If price continues against them at a certain point they will open a third trade and so forth. Some have limits to there depth and others don’t. All orders get closed when predetermined profit target is reached by the “basket” of trades. Mathamatically this is a great way to trade. The biggest concern is your starting point and tp levels have to be conservative enough that your account can survive up to 5 or 6 levels deep (or more depending on what you are trading)
