Hi Robert,
Looks like the new version has the settings all correctly loaded once the ea is attached to the chart?
Any settings we should be aware of?
I’ve just attached it and left everything as default
Yes, Gazlim
Isn’t that sweet!!!
Nothing to adjust, all presets are pre-loaded when you attach the EA to the charts.
Just to clarify to traders who have not used the version 7 update yet: each currency pair has it OWN EA.
So there is a Master Scalper for each pair, 5 Master Scalpers in total. Each one with the name of the pairs that they are set for.
For example, there is Master_Scalper_EurChf, which is pre-loaded with EurChf variables.
This includes the trading setup, TP and SLs, trading schedule, etc, including the NoTrade Days that belong to that pair.
When either the Euro or the Swissie (in our EurChf example) are getting big announcements, interest rates announcements or GDP releases, we should not scalp that pair at all. The EA knows this: that pair, that day, will stop trading 16 hours before and 16 hours after the interest rate announcement, for example.
What happens is that on the day of Euro rates announcement, the pressure is so high that traders worldwide exit the market, closing Euro positions before the news, just in case things get too volatile or out of control. This massive exit tends to trigger trends that are too strong for scalping. So the day before (16 hours before the news) the EA will stop entering NEW positions in the affected pair. It will continue monitoring existing positions as usual. Hopefully by the time the news come in, we are out of the market completely, in those pairs affected by the news release.
It will also stay out of the market for the next 16 hours (the whole day basically) since post-big-news scalping is a no-no.
Meanwhile the UsdJpy, may be having a normal trading day, since the relationship of Usd and Jpy yen is much less affected by what the Swiss or European Central Banks do about their currencies. So the EA will not stop those pairs that are not related to those news.
The Breakout Hunter has less requirements: It will stop entering new orders 1 hours before and resume trading 15 minutes after. The idea is to bypass the spikes of the report. If a new trend holds after 15 minutes, we consider it a valid breakout, and we want to be part of it.
One more note on installation: the EA can now recognize the broker data and adapt the schedule. No tweaking needed. It’s all in the past.
Welcome (to all of us) to the 21st century.
Good luck out there.
Robert(4SmartFx Technology)
I purchased the EA last week and from Wed. evening through Friday am very impressed with what I’ve seen. But I continue to run on a demo account on my laptop at home. Looking forward I need to start considering a VPS and live broker, and realsie that my purchase covers just the single licence.
Can you advise how I would go about simply migrating the licence from my home laptop to the new VPS service as and when I complete the set up etc. (which I should stress is not something I will do rashly o/night) - just being able to select the right VPS & live broker for me is a challenge with all the various reviews available
Thanks in adance
Paul (aka Barnov)
Hi Barnov,
No problem.
When you are ready to move to the VPS send us an email
We will cancel the original Serial Number and issue a new one, free of charge.
the new version sounds awesome! I’ve been away all weekend at trade shows but this evening I will get version 7 up and running. The news and whipsaw filters sound ingenious!
I was just looking at myxbook and I noticed that for the last 61 open trades they were all winners 100% and a net total of 993.7 pips since 9.27 hows that for performance (all can be verified in myfxbook)
[B]**edit I forgot to add a pairso actually it is more like 73 trades in a row with no losers and net total pips is actually higher than +1000 [/B]
with all my earnings I’m eying a new watch
What do you guys think of this one? Its a classic Hublot
Hi all,
Nice watch and even better results lol
I started using the smartfx combo last night and I’m up 2%
I only wish that this performance keeps going.
Fraz
Superb effort !! I’m new to this thread and babypips.com in general. All looks great and it looks like this bot will work wonders. I have had a great communication experience from Smart FX and even opened an account with their recommeded broker, stuck £500 in and am letting the combo package run riot - Really excited about the coming months. Will keep everyone updated with my progress once myfxbook accepts the link.
P.s
Do you recommend a VPS then Robert, also I have been running the combo for 4 hours and not 1 single trade. Is there a trade hold due to volatility?
Fraz and mark welcome to babypips.com Fraz look forward to seeing your results/
@mark I am using trustvps with great results. I know your asking Robert just figured I’d throw my opinion out there 
Thanks johnnykanoo,
My results are on myfxbook under fraz, sorry I dont have enough posts to add links
Hi Traders:
Following Fraz’s inquiry about some differences in broker’s performance, I answered him with this rather long-winded explanation.
I thought that Forum traders would like to read it:
"I checked your page and saw the couple of large losses on EurChf and EurAud. These 2 pairs are notorious with brokers that push up spreads during the scalping hours to get rid of scalpers.
Different spreads will lead to different fills and different results.
Different fills can even affect performance between 2 accounts with the same broker!
This is normal since they are actually buying and selling us currency contracts, it’s not just a number, like it is in a Demo account (hence the difference in performance between Demos and Live accounts)
Once two accounts are off sync, the results may vary for the rest of the day.
This happens in all kinds of trading: If, for example, we both put a buy order for a stock, at the same time and with the same broker, we are also going to get slightly different fills. That’s trading, buying and selling at a price that changes constantly.
In the case of Forex, and particularly of scalping, which is rather high frequency trading, that may happen relatively often.
You may get into a trade that I did not get into, because the market reversed at just that point.
From that moment on, our two accounts are out of sync.
[U]If we are with the same broker[/U] this may happen because I did not get filled and the EA’s signal went away on the reversal, sort of missed the chance for the trade. This often happens with variable spreads, like in ECN brokers. The funny thing is that occasionally you could actually benefit (even with worse spreads) because you are not hooked with that order. If the trading session ends, you will not enter more trades that day. So even though I got my order filled, I may be stuck with a losing position and you got spared: I may be facing a Stop Loss, which may account for the different results you are seeing.
[B]This is a rare case, since usually worse spreads mean worse performance overall.[/B]
[U]If you have a different broker[/U] who never had that price available, then you don’t get to place the order at all. This is how it works:
Let’s say that the price is 1.00000 and my broker has a 2 pips spread. My broker will sell at 1.00020 and my EA will be able to enter a “buy” order at that price. Your broker, who may have a 4 pips spread, will not even offer the chance to buy at my price: they will offer you a 1.00040 price, because of the higher 4 pips spread. Your EA won’t send that “buy” order because it does not want that price, since it is not a good “buy” according to the strategy. The EA would like to buy at 1.00020, but not 1.00040.
If the price reverses at that point, I am now in a trade and you are not. And so it begins.
If I am busy with my trade when you are not, you could enter a trade the next time a signal comes along, which may in opposite directions than mine.
If the price action remains normal and the price keeps bouncing up and down, both you and I will make money in time, even though we are out of sync. However, if the price takes off in one direction, your position may clear at a win and mine at a loss, or vice-versa. Luck of the draw, it could benefit you or me, but it will not be the same.
That’s Forex!
Regarding the inquiry on VPS recommendation, I would ask your broker: Most VPS are competent outfits running a decent show. The main difference between them is the proximity to your broker’s server. This determines the latency, or time lag which may affect whether an order gets filled or the opportunity missed. This is particularly true in news-trading, with large spikes, where time is of the essence. We do not do that sort of trading…
So in our case it is not critical.
Some brokers offer to pay your VPS fee just to get your business. Check around, you may find a free ride.
Thanks Robert for the detailed explanation, I’m currently with FXCM mt4, can anyone recommend a broker being used with smartfx that is doing particularly well?
Day 2:- currently back to square one as profits have been wiped.
Thanks
Fraz
Folks can anyone recommend a ECN?
thanks
Fraz
We use MB Trading and FinFx, but there are other good brokers.
Thanks Robert,
Have you got a real account active with the master scalper and breakout hunter showing on myfxbook.com ?
Fraz
I just started it today and uploaded it to myfxbook, but it is still pending so I don’t have a link yet.
Not sure why it takes that long this time, maybe real accounts take a while to verify…
Since Thursday and Friday are No-Trade Days because of Euro Interest rate and Non Farm Payroll, the scalper will be standing by. The No Trade time for Master Scalper is 16 hours before and after the event, so we do not get caught scalping when traders are exiting positions ahead of the news, which can start a trend that will lead to losses in a scalping strategy.
Breakout Hunter will enter trades, but will have a no-trade interval 2 hours before the event, and waiting about 15 minutes after it as well, to avoid getting caught in the spikes of the news release. If the rally continues after 15 minutes, we want a piece of it.
So cool that we do not have to babysit reports any more… Yeah!!!
I will post the new real account myfxbook link soon.
Hi Traders,
Here is the link to our new [B]Real Account[/B], opened with the release of version 7, which contains the News Filter and other improvements.
Broker: MB Trading (ECN), TimeZone: New York (currently GMT -4 on DST). Entries marked “withdrawals” correspond to the ecn commissions on trades charged by the broker.
Started trading on Oct.4th, 2011,
Since the Real Account just started, I am posting the older demo tests.
They run each EA independently and show several months of trading.
Breakout Hunter, started in April 2011. Updated to version 7 on Oct. 4th.
Master Scalper, started in August 2011, started with release of the previous update. Updated to version 7 on Oct. 4th.
