Okay guys after some time and consideration I am going to purchase this ea. I will keep everybody updated.
One thing I like to do is never buy an ea that is just launched. I like it to have some time and prove itself and get feedback from other users.
Photon is looking great and there developer is very accessible. Feedback is that his support is awesome and he is not one of these shiester marketers.
I will attach links for you guys to see performance so far.
I would like to add that as usual I am not an affiliate in any way and I never post affiliate links. I am just a trader who loves the idea of automated trading and when I find something decent then I like to share
The worst stop loss hit looks to be -17 and i think it maxes out at -26
so if you factor in the win to loss ratio and the risk reward overall it is safe, maybe folks here will say omg it is 5:1 thats terrible but you must factor in the win loss ratio and try to understand that robots risk model is different than manual trading. Also keep in mind that even the “best” robots out there seem to have 75 pip stop loss all the way up to 300 pip stop loss to earn 5 pips or so.
I respect the opinions of everybody here so please feel free to comment.
Sounds interesting Johnny Although I’ll always trade manually. Being a programmer, I’m still interested in EAs also. Found a cowabunga ea not long ago that looked promising.
Any idea what the strategy behind this one is?
Forex Photon is a scalper that trades 7 pairs: EURUSD, USDCAD, USDCHF, GBPUSD, EURJPY, EURGBP, and EURCHF on M5 charts. The last two pairs are new to version 1.17
I don’t know the strat unfortunately.
The creator is named Vinod Krishnan. He has been very forthcoming and open to discussion. I have read through a thread over on donnaforex and he basically takes people ideas and suggestion to heart and has affected some amazing changes. For instance he is able to shut down trading from his server during news announcements and is committed to constantly updating the ea so that it becomes more and more profitable.
I’m not one to jump on any bandwagons and like I said earlier I like to see some history before I make a purchase. Unfortunatly many traders are jaded about eas and they say that no eas are profitable but this is simply not true. The problem is most eas that people are exposed to are the crappy ones that get toted as the holy grail and it will make you rich overnight and then people impulsivly buy it and it turns out to be crap.
I have serious criteria that I like to follow when choosing to risk my hard earned money and later this weekend Im going to go into some of that.
I want to put myself out there and share my experience here. Could it fail perhaps there is always risk or could it possibly earn 1% daily for a sustained period of time? We shall see.
Hi Johnny
I agree with you there are some crap EAs out there. Just internet marketers trying to make a buck selling to the gullible. And of course EAs can’t think and reason like a human, but they have the advantage of lightning fast calculations and zero emotions. I’m a programmer by profession and tend to think like a machine so I like to think a good EA is possible. I’ll be interested to follow this and see what develops.
Well, seeing a super master contributor buying an EA is for the first time turning my doubts on EAs.
Thanks David for the nice compliment. I will definatly be totaly transparant so when we succeed there will be no doubt and if we fail, well … lets not think like that
Talon I think there is a major conflict in the forex world.
They say you have to have rules so you don’t make emotional decisions but then they say that real traders that are successful are successful because they are price action traders who are discretionary.
Then everybody quotes why 95% of traders fail. So what is the truth? system based? Discretionary? automated?
I think that any of these methods can work. A method has to be dynamic in order to succeed. It has to work in different market conditions or be designed to only work in one condition and be able to recognize that condition.
Anyway I’m talking to much.
I can say this, I was installing photon on my vps and I ran into a problem and I emailed support. Vinod got back to me within 10 -15 minutes so I am definately happy with the support so far.
My vps is all set up. I opened an account with forexvps. I am exptremly impressed with there customer service. If anyone wants to sign up with them I found a coupon code that offers 25% it is EAFX25. Again I am not an affiliate just someone passing on some good information
Then I set up Jaadu remote desktop for my iphone so I can view/manage my vps on the go.
I have a couple of demo accounts running photon on 7 pairs. I want to run with gomarkets but I am having a little trouble getting multiple instances of mt4 on there but I will persist.
My goal is to run 2 instances of each broker that I want to follow one with aggressive true and the other aggressive false. I am also learning how to use mt4i so I can track my results in real time and post them here.
I don’t know why it opened two ej trades I suspect it is because I have it set to aggressive mode. I have not set up aggressive = false I will do this very soon because I would like to compare trades.
Looks like a nice EA. But about the risk, you said the EA stops out trades at 26 pips loss, and on the site there is also something about low drawdown. Now I haven’t seen large drawdown in the results, so I’m curious why it would use such a high SL ( 300 pips )?
Guys 300 pop stop loss??? Even the earlier version only used 70 I think. Trust me 300 pips, I wouldn’t trade it either. It risk reward model is impressive to say the least.
Also it has stealth features that hide the true values
After reviewing the live statements I am sure what you are looking at is the stealth function of photon. It dislpalys phony take profit and stop loss numbers to fool the brokers. There is definatly no 300 pip stop loss to this ea.
Is it possible that the photon EA sets an emergency – “cover your a$$” stop at 300 pips on the broker’s system, just in case your computer or server running the EA crashes. But if the EA is connected up and running properly the EA will activate the stops real time according to it’s logic-system
Just a thought?
Thanks for posting the info on to EA, it will be nice to see how well it does.
Dpip I did read something about the stealth mode stops and tp’s acting as an emergency fail safe so I thnk that what you say is true.
The normal risk model is definatly not 300 sl.
I was looking over the trades tonight and they are all closed for profit.
All brokers are showing positive pips (between 5-7)
Only 1 loss and it was for -1 pip so not bad ehh?
The real test will be long term. I am in the process of validating my go markets account so by next week I will have it funded and I will have live results, although I hear go markets demo feed is identical to its live feed I would like to see this for myself.
Word to the wise never take anybody’s word for things always do your due dillegence.
