I have the same experience.
MD has a little intelligence and donât react on price action. It move internal TP level only after some minus pips.
About my 3. statement - simply not enough trades.
Consider MD would have at least 3-4 trades per session in 4 days, the average pips per week would be ~10 instead of 2 and it would be really profitable activity - 100% per year against 20% current
BTW, with 10 pips per week risky will be only 2 last months profit not 6-8 as now.
This problem tried to solve ADT, but without success as I watch (I bought ADT, too, but never use on live). I run backtests with different time zone settings to push them work on different times, but there is only one flat area between +/- 2 hours GMT=0.
Of course, you can run some MD simultaneously with different GMToffset settings, but it will increase drawdowns dramatically.
"âŚ2. Exactly. Iâm not complaining about the 30-40 pips SL, itâs the 150 pips SL Iâm worried about. 150 pips SL for a scalping strategy that goes for 10 pips TP is just not rightâŚ"
150 SL in the second trade is out of common sense. Anyway MD position now is better then previous one. Even after last sharp move. At least the same SL must be or even higher. Please donât forget about MD sales strategy where important rule plays 95% accuracy and nothing about 150 SL.
I will briefly describe my SL changes during MD trade:
-
Price about +3 -> I open Modify Order window and waitâŚ
-
Price reaches +5-7 -> I reduce SL about a half 1-2 pips below closest extreme (buy position).
-
Price reaches +7-9 -> I set SL on breakeven +1 (open price + 1 pip)
-
My next actions depend on price next actions:
4.1 Price starts to bounce between 4-9 pips -> I try to close on the best position - average result +5 pips
4.2 Price slowly moves to TP -> my SL manually follows:
+7 -> SL=2-4
+8 -> SL=3-5
+9 -> SL=4-6
and so onâŚ
4.3 Price hits breakeven+1 -> it wasnât my dayâŚ
So I will reduce risk and stress in normal market conditions. It is quite difficult to say gains my manual intervention more profit or the same. I will try to calculate it:)
Since the loss of a couple of days ago this forum has been very busy and also very critical of MD. Just a couple of points to note. I haev checked WendyLâs account and she has only suffered 2 losses since 20th August last year (the date the new version of MD was released). Her account is still showing a decent profit. There is an old expression âTime in the markets and not timing the marketsâ. Some of the other posters on this forum, like myself, havenât been using MD for as long and therefore last weeks loss may have hurt more (imagine if you only started using it last monday.
I feel we are all reacting to a bad week. I for one am prepared to run with this for a lot longer. I appreciate the comments about babysitting but the whole idea of a bot is to leave it to do the work. Okay it may not deliver the same returns as there website suggested but who believed that anyway.
Another thing. I set my risk rating to 0.2. This means that I am prepared to lose 20% in one trade which hasnât happened. If I have set MD up with the knowledge that this is my risk setting then it is understandable that I may see an SL of 150. I know that the 150 SL is getting some stick but as previously mentioned it was probably set out of common sense but also assuming that there would be a degree more volatility given to sharp drop.
I have also been checking out other eaâs. Has anyone any thoughts on midasrobot.co.uk or primeval?
Hereâs to a better week and hopefully another long run of winning trades.
Paul:D
In the Forex market wins and looses are not ordered in the some order. Therefore the next trade would be loss, too. SorryâŚ
Plug-and-pray MD or try to protect ourselves - up to you⌠
Obviously MD Money Management rules are not enough advanced. We can see this without any magnifying glass. If one loss eats a half of 6 months profit, the next one may occur only after 3 months⌠Who knows?
CloveriX has much better trading approach and money management, but unfortunately EA has a lot of logical bugs:
- it doesnât work by 5-digit brokers.
- if you set some SL, only loses are coming out.
- some bugs with TP
I found decompiled ex4 file and will try to fix bugs myself.
Cloverix support isnât able to take a deal with this
I like:
- EURCHF is more flat then any other pair at this time.
- Backtested works fine with 20 pips SL and 5 pips profit (80% wins)
- At least dynamic TP (may be SL, too)
- Performs 2-5 trades per session.
I will continue with CloveriX in other thread.
I understand that losses are not always in the same order. I havenât been using MD for six months to know what how much profit gets wiped out. However looking at WendyLâs account she is still up over 60% and didnât loose anything like half of her six month profit. It isnât going to make us rich overnight but a 60% return in six months after the loss the other night still isnât bad.
I am only pointing out that we know the risks going into this by setting our own risk setting.
378.72 loss/ (634.97 remains + 378.72 loss) ~ 37% of course not 50
We canât use this account for profit calculations because it has additional deposits/withdrawals.
Sorry WendyL, your account has been used for education purposes only
Too bad I made a deposit before the big loss 
Knew the loss was coming but couldnât wait 
Edit:
Btw I havenât made any withdawals. The -100 is the bonus beeing removed because I didnât meet the requirements.
Hey all,
on the subject of other peoples charts, here is one I found which after asking its owner on the discussion board, mainly uses MD and a couple of other EAs in support. All the EURUSD trades are MD I believe.
He says he uses ADT overlap method with high risk (not sure what the risk level is), hence the big drop but still the returns are amazing, even with this huge loss.
I just wish he would share his tactics.
Seem to be quite a few trades without SLâs which is odd and there are loads of small trades that appear to be traded at virtually the same time. High frequency, could this be multiple time frame charts open?
Any thoughts anyone?
What the! So many trades!
Wow 50% per month even with that big loss. But also 100% DD. Like andris said you never know when a loosing trade will happen. If that huge loss would happen as your first trade, wouldnât you get a margin call?
Lol, I actually setup an ATC live account for a friend of my thursday. So the first trade he made was a loss. But he understands the risk and knows he will be in profit in a couple of trades ( recovery mode on ).
Any have a loss on Thursday like I did?
Gary
Nope ⌠am I the only one thatâs going strong on this one ?
Best Regards,
Matt Jones 
.
Hope everyone took my advice on this threadâŚ
Sorry, WendyLâŚ
Your account is a live one I trust. This is why I mentioned it. But it isnât useful to calculate pure profit gains. Mine too
For profit calculations please take a look into:
forexpeacearmy.com/metatrader_expert_advisor/forex_mega_droid/demo
They simply use set-and-forget approach.
Unfortunately this is demo AlpariUK (not Micro).
They didnât take the last profit from MD Strategy2 - success strongly depends on broker quotes
I put into Excel MD optimization tests with one hour step.
As you can see - we can set a lot of charts with MD, but how about profit?..
I see reasonable to exploit somehow only +/-2 hours GMT time with reduced risk.
Thanks for comiling the figures, they look very interesting. Is this from the Metaquotes data? I am asking because the Metaquotes server is GMT+2.
Does that mean GMT+2/-2 with that data is really GMT and GMT+4?
Well, my broker server time is GMT +1
Therefore flat seems from GMT-1 to GMT+3
Please retest by yourselves
There are at least 4 serious problems with backtests:
- Quotes are your broker and Metaqoutes mix. May be Metaquotes only - not your broker!
- Test quotes generator use some linear formula e.g Bid = open+ slope*(tick number in 1 min candle). That means - price lineary increases or decreases instead of real bouncing during 1-min chandle time.
- Trade Module often refuses EA Order Open/Modify/Close requests requests because artifactal Bid/Ask sometimes has more then Digits e.g 1.2345600 instead of 1.2345 for 4-digit broker
- Spread is taken actual at the start of the test because source 1-min archive doesnât contain any spread information. Your test result with 4 pips spread dramatically differs from previous one with 3-pips spread