Not the best start for this EA.
This one is a long term strategy trading trends - you don’t want it trading too much otherwise the DD will be much higher.
Quality Vendor - all their products make money + have history + updates behind them … I think just give it more time and it will come good.
I am almost sure that FX Trend detector will do good in the long run. Just need to set a low risk and wait for the right market conditions, as for most of brakouts and volatility based EA
What low-risk settings would you recommend?
I am using default settings with risk mm 0.5%
Consider that many volatility based eas Are suffering in these last 2 months.
Are those the settings they’re using on their live test?
I think they are using default settings like me. But don’t know about the risk level; maybe they are using higher risk
Their lot size is 0.05 per 1K of the account balance. What’s yours?
Now, due to some recent losses, the recovery function kicked in and so the lot size is raised. This also on my account. Anyway seems that they Are using a risk about 4 time higher than mine. This for 2 main reasons: my account balance is much higher and so i try to keep my risk lower; second, i use on my account many eas, including many other volatility based eas, to smooth the equity curve, so is necessary to keep the risk low for every EA. On a smaller account like their Thinkforex ref running only FX trend detector i would use a similar risk to their
I really saw this EA and how it trades last night.
Personally when EUR went over 1.1100 I closed all the open trades and switched off the EA because the daily range was already so wide any small pullback would have really bad results … when I woke up this morning and saw the EUR had done just that and dropped all the way back - and then checked their reference account and saw a nice profit turn into a nasty loss … I was pretty irritated.
This EA almost needs the market to trend one way close on its highs and then continue the trend the next day so it can really generate large profits.
However this is not the market we are in – so I am a little unsure what to do with it — perhaps lowest lot size and manage the trades myself the best I can is the way to go – but I’m sure that will not help a lot of other people who want full auto or bust.
Hi, Can you please tell us where you got the discount?
Thanks
A friend of mine asked them if what they’re selling is an actual EA or mere signals/trade copier and got this in response:
“The trading logic of the EA is located on our server for protection
reasons. Despite this, none of our customers have complained about any
delay or unnatural behavior. The EA trades in such a way that even a
minor delay is not significant for the final results because the EA is
not a scalper.”
Thats good! I prefer such eas with external signals because of all the illegal cracks and copys after a release. This will damage any good strategy in the long run. Thanks for info!
the main problem with this EA is its down 12% since Public Release - and it doesn’t seem to handle open trades very well - where trades 30-40 points in the money - hit their 35 pt stop losses - or a 65-70 pt swing.
just have to hope a nice trend comes a long to restore profitability … for me closing the trades manually I made money with it so far - but I don’t want to have to manage every trade in the future.
what is the diferent this EA and wall street EA?
It is a completely different EA which uses a completely different strategy: while Wally open trades on retracements of trends, Fx trend detector tries to profit from strong movements (spikes). It is a volatility based EA. We can compare it to Keltner, to the Vola strategy on FE Combination, to the BO strategy of F a Real profit, monetizer, F growth BOT
Of course each one of these has is own characteristcs
I have switched OFF the Recovery function but rised the risk from 0.5 to 0.7. I think that thanks to the positive risk/reward ratio this EA could be profitable in the long run.