the .01 lot thingy is because the account is so low and that is the minimal lot size allowed. As for less trades I don’t know???
Dave I do adjust the mm for each pair. Fore example eur/cad hasn’t done well so I reduce risk there while eur/aud is doing great so I increase risk. You probably can’t tell on the test account because it only has like $200 in it but interestingly enough that account had almost $1400 got blown up had a $100 thrown in there and now is over double that. But there is also a lesson here too. If you do stupid things to your account and lose a big chunk of it, than it will take you so much more to overcome that loss just to break even.
For example if you lose 50% of your account you would need to double your account just to get back to break even.
alright off to breakfast now. talk to you guys later.
Hi guys,
I just wanted to let you know I talked with the developer and he is going to find time to stop by in a day or two. This is a great opportunity to meet him and ask questions. I’m sure you guys will make him feel welcome. I myself am looking forward to asking him some questions. I find him to be very knowledgeable and friendly.
I would love to get some questions answered by the developer. I am also trying to setup a remote session with support guys to have them take a look at my settings. Here are my results from myfxbook and as you can see, vastly different from Johnny. I must be doing something wrong, I just can’t figure out what…
Hi Traders,
My name is Robert. I am the developer at Smart Fx Technology, who makes the EAs of this thread.
I am very thankful for the invitation from Johnnykanoo to join your Forum.
I find open discussion very invigorating, not only from the traders side, you might pick up a tip or two, by also from my end. Many, many ideas that were implemented over the years came from postings by traders who had good insight into how to improve things, one way or another.
I make it my business to be available for questions or remote sessions, to check things out and make sure that traders have their EAs set up properly.
We love what we do and love even more when we all make money with it. We do trade the exact same EAs, with the exact same settings in our personal accounts.
We hate it when people lose money because something went misunderstood, something that we could have cleared up for everyone’s benefit.
Because I don’t want to sound like a commercial, I’ll stop now, and wait for any questions to be posted. I will be checking the forum periodically to keep up any inquiries.
Welcome to the forum and thanks for taking the time to answer questions.
I started with default settings and only changed GMT and UseLotsPercent as suggested in the manual. Initially it was not making any trades, so I reinstalled the bot and this time alongwith the settings change suggested in the manual, I also changed Acc5Digits to True as my broker (HotForex) is a 5 digit broker and increased the lot percentage to 5 for all pairs. I ran it with these settings for about 2 weeks and ended up with a loss of about $700 (shown in my previous message through myfxbook). What did I do wrong?
Starting today, I have reloaded the default settings that come with the bot and have only changed GMT (+3) and UseLotsPercent (True). I have attached my current .set files with this message. Can you check them and tell me if they look good or should I change anything?
Robert welcome to babypips! I am glad you took the time to stop by. I think people will really benefit from your insight into your robots. Whenever I talk to you I can’t help but gleam a little something useful
@gazlim I think you should definitely talk to Robert and maybe do a remote session. Did you put the proper set files for each pair? Maybe Robert can help you. Many of us are trading live with this ea and having great results.
I’m not one to put bold claims out there but I think 20% on very conservative settings is more than possible and perhaps even more.
Like I said in the past one of the great features I love about these ea’s is that they incorporate different strategys accross different pairs. It helps smooth out drawdown periods and contributes to an overall smooth equity curve as well.
Our number one goal as traders is to be consistantly profitable. I find that diversification and risk management go hand in hand and make for a successful portfolio.
You guys that know me know I like to have different ea’s doing differernt things and trading different pairs. I know I’m not the only one out there who is at least a tiny bit over leveraged with eur/usd. Most every ea seems to trade this pair. The scalpers make a nice addition to my portfolio simply because they trade different pairs that are not common amongst all ea’s but even still Robert has incorporated the trendiness of eur/usd into his overall plan. The thing is when eur/usd hits periods of ranging and choppiness than it’s trendiness can’t necessarily be counted on. In these times we rely on the scalpers to “bail us out”
A basic tenet to my trading is stay diversified and manage risk. These huge concepts can’t be ignored.
I would love to have you take a look at my settings. I was able to get hold of a support person through your website last night during the London session and he did a remote session with me and looked at the settings. He adjusted the Acc5Digits to ‘True’ as my broker is a 5 digit broker and said the rest of the settings looked good. I have been running it with these settings since then. I am thinking of observing its performance for a week with these settings and then do a remote session with you. Do you agree with this approach?
Also, In your experience, Could the performance on a demo account be very different from a real account with this robot?
Please also let me know how I can establish a remote session with you.
Hello Goalmillion,
I was there when John did the support session with you. I saw what he did, but did not want to take over because you had asked for a tech, and he was doing a perfectly good job.
But I saw everything…
Go ahead and try things out like it was set up yesterday.
Just stay with the low risk settings, and you should be fine.
With the 5-digit broker correction, now they will be trading fine.
Just go easy on the risk level, so when we get losses they do not destroy your account, which takes a long time to recover from.
See that, now can anyone tell me of even 1 developer willing to do a remote session with you and go over all your settings like that I can’t think of any. I think its great these guys do this for us. It is obvious that they care and they are not like so many who take the money and run.
You know a lot of people talk about “red flags” what can we call this a green flag hahaha!!! Definitely a good sign, quality support like this is huge!
I hope others will take advantage of this level of support. That is why this ea is great for beginnners too. Honestly it can be confusing when you add this ea to your charts and start scrolling through all the settings. It can make your head spin, but know worries either Robert or John will walk you through it and get up and running quick.
We have to make sure that this developer company is recognized for its willingness to chat directly with its customers and helping them to get profits…
Here’s my MyFXBook link for my SmartFX account, currently running at 3.1% gain over the whole month, a far cry from what has been posted here. This is running on HotForex Currenex and all the settings are default except for GMT offset and setting it to 5 digits. I’m running both Master Scalper and Breakout Hunter.
Make of this what you will.
I can’t include links yet, so copy and paste this:
Hello Stebbin,
I did look at your myfxbook. I see that the overall your performance has not been up to par, most of your drawdown happened between the last week of August and before Sept. 11th.
Since then you have gained very nicely, enough to put you in positive territory. I hope this continues.
Granted the end of August was not great. But your drawdown was bigger than what I experienced too.
I suggest you look at the myfxbook link of my entry for the contest at GoMarkets. I started the first week of September, and to date I am up 52% for the 3 weeks,quite a bit as you will be able to see in my next post, once I am allowed to post links.
Also please keep in mind that your drawdown in August was incurred trading what we describe as No Trade Days. They are posted in our website, Owner’s Manual and Quick Start Guide. Your worst losses happened on the day of Interest Rate Announcement of the Europeans (clearly a No Trade day for Euro based pairs), the day of G7 meetings and the huge Bernanke speech. It is not wise to scalp on a Friday when these events are going on. No wonder the losses.
The best of all news is that in the next few days a new update will be released and the No Trade Days will be completely automated, so when news times or speeches are about to affect the market we will be sidestepping them, automatically, without having to think about it. Very cool.
We are very excited about that, big improvement, and a first as far as I know.
Once again, here comes the link:
I suggest you look at the myfxbook link of my entry for the contest at GoMarkets. I started the first week of September, and to date I am up 52% for the 3 weeks
Better than showing Demo account results, we have opened a Real Live account that we will use to post the Live results of real money trading results, starting with the release of the new update, probably this coming week, as soon as we are set up.
There you will be able to monitor your performance against our live account. That should help comparisons…
