Why are there so many blind and uninformed comments on here passed on as some forex fact of trading?
I am not a fan of Martingale but from what I have seen and tested, FH 2.3 can work very well especially
on an ECN broker. If you are time and time again blowing your account, guess what??? You are risking
too much. And what else??? You are trading too much. Best use for this is on ECN as a scalper with
total risk under 10% total based on your max order potentially opening up concurrently. Your greed is
making you risk too much and your greed is making you trade 24 hours with this. Cut both of that down
and demo to see how it works. Also, you need to manually intervene and have a clear plan on how to
get rid of floaters at the end of the month. Either take the loss and start over or click the EA off and
ride out the open trades. And you need at least $10,000 to use this well and the ability to open .01
lot sizes. And trade no more than 12 hours per dayā¦ ideally less than 6 hours per day. And trade
just one pairā¦ not GBPUSD but EURUSD.
On risk: max order of 9 coupled with multiplier amount and Martingale is the account killer. Nobody is telling you to use max order of 9 per position or to use 2.0 multiplier. Check to see what your last Martingale positionās lot size would be. Calculate all of this before hand and figure out your correct initial lot size. You put default setting on a $1000 account, and it will be blown in matter of hours. And that is not the fault of this EA. Sorry, but it is your fault.
I have been lurking for quite some time here. Just wanted to say that Forexhacked is a Scam, they will not refund your money if your not satisfied with the EA.
I wrote every day for one week to refund and they just ignore. They are a scam.
And about the EA itself, it will blow your account sooner or later. Better to switch to manual trading.
I am new here and a newbie on forex, so apologies in advance if I sound stupid.
Iāve just bought forex hacked, opened a demo account at fxopen, and started playing around. I checked and re-checked a few times that I followed all the instructions, but I keep getting this message in the Experts window:
āinvalid ticket for ordermodify functionā
And no trade ever gets executed.
Does anyone know how I can fix this? Thanks in advance.
ok good luckā¦but remember its martingaleās and you WILL lose sooner or later.
come back to me when you start to loseā¦i can probably help you.
Good luck againā¦u r going to need it.
How can you help. I have tried studying to trade for myself and I have a very difficult time understanding how to do it. I used MACD for my indicator as well made trend lines, three peaks to confirm but that also did not seem to help.
What do you mean by help? I am a firm believer in teaching a man to fish.
Newbie , you have a lot to learn.
you ask what is Martingaleās?
My friend i can post the complete strategy , but its best to google and find out for yourself.
Itās one of the worst strategies that can be used in Forex trading. No one i know has ever been successful with it.
About indicatorsā¦I would suggest you study the very basics of forex tradingā¦which is Supply and demand.
Actually I had already googled the term and found the reference however I could not put it here as that was my third post and you have to have at least 5 posts before you can include a web address.
As far as Newbie, yes I am new and trying to learn however simply saying āgo Googleā rather than good solid advice is not really what I expected of you from your reply to my initial post.
I understand the concept of supply and demand however this is shown to the trader through indicators such as macd and stochastic etc.
Maybe you could elaborate on what you mean by ālearn supply and demandā.
Better yet, how do YOU trade, what do YOU look for? You seem to have knowledge and I would like to know what a more experienced trader would do.
When I tried to use MACD, I found that the market āseemedā to be going one way according to the indicator line crossing over however it was very unreliable and I found it almost no help.
As I understand stochastic when a pair is between 0 and 20 OR 80 and 100 a reversal is expected. Again not very reliable, it can take a long time for the price to reverse meanwhile money is lost.
I have also used candle sticks patterns to try to predict movement but that also did not help very much.
So I thought ok what about a bot that could read multiple indicators and base trades on that.
That is how I came across forex hacked, by reading reviews on various sites and decided to give it a go.
Do not take my inexperience for laziness, which is not the case. I just figured a bot could remove all emotion and base trades strictly on market conditions.
If i could give solid advice , i would be a great trader and i wouldnāt be lurking on the forums giving advice to newbies. I would be making loads of money and rolling in it like Uncle Scoorge lolz.
Ok , now coming to serious part. First thing , get off the indicators, read this and get it through to your head.
INDICATORS ARE USELESS , IF YOU DO NOT KNOW HOW TO USE THEM. DONāT USE THEM FIRST HAND TO MAKE DECISION.
now enough with caps lolz. Sad part is you have to work hard in forex , there is no easy way out, but do not worry help is there.
I cannot teach you how to trade, but i can guide you in this wild forex world. Rest is up to you.
Look up
Sam seiden Supply and demand
Tom Demarkās TD Sequential Indicators
James16 Price Action
Once you master the above three. you shall live like a king.
Good luck and keep working hard.
edit : Also, get rid of all EAās , THEY ARE ALL USELESS. if they could make money. Forex trading would be the easiest thing in the world.
Is anyone still trading this ea on their live account? I am interested in hearing some updated feedback and any myfxbook to view recent results. thanks.
Forexproptrader , i suggest you give up on EAās. They are NOT going to make you money in the long run. if you really want to make moneyā¦try manual tradingā¦
I agree manual trading is very effective but 70% of all stock volume is HFT, would you suggest to Goldman Sachs and every
other major investment bank that uses trading algorithms to go back to manual trading as well?
See the H and Fā¦it stands for High frequencyā¦ you are telling me that you are going to use EA for HFT. I simply have to laugh at you, i m sorry.
like i said , donāt believe a word i say. Go and lose all your money first with all your fancy EA and what not and then after that when you have given up, come back to me. may be i can help you.
you are so smartā¦are you telling us hft strategies are done manually?
High-frequency trading uses complex algorithms to analyze multiple markets and execute orders based on market conditions. Typically, the traders with the fastest execution speeds will be more profitable than traders with slower execution speeds.