Hello,
I purchased already megadorid EA, it doesnt open a trade since yesterday, what are the parameters i need to set?
MagaDroid makes no trades in my account since December, 23.
Wellā¦ [B]Master Scalper[/B] had a break for the holydays but came back scalping heavily.
The only problem is that instead of scalping the pairs that it should, it is scalping my account.
In less than 3 days of activity it inverted a gain of of 7.87% with 147 trades (119 winners - 28 losers) to a [B]LOSS of 3.77% with 176 trades (133 winners and 43 losers)[/B].
You seeā¦ in the last 4 days half the orders had losses. Each gain was small or moderate but almost all the losses were big.
This is very, very frustratingā¦
You canĀ“t trust nobody. Not even the &%%&/$/* robots.
[B]MillionDollarPips [/B]was jealous of MasterScalper and for that reason made (a few minutes ago) [B]6 ordersā¦ all of them with a nice loss[/B] (between 30 and 40 pips each). Not one single micro profit to count for.
The year is beginning perfectly.
I can already predict a nice report of the robots performance for the weekendā¦
Well, at least [B]MegaDroid [/B]showed up yesterday and [B]made a small profit[/B]. Not bad, due to the circumstancesā¦
Canāt you adjust the stoploss size so that this big losses donāt eat away all the small gains?
How many parameters are changeable with these EAās?
Hi, Mendonca;
This and others bots donĀ“t know to work with heavy eventos like Non Farm Payrollers and others like this one and when the market comes down they buy because they arenĀ“t programmed to deal with this events. For me, thatĀ“s the weakness this bots, they earn a lot off money and now and then lost it. Personally, IĀ“am studying the matter and my eyes are on your experiment that will be very ventageous for me. I sugest disconett these bots when there importants events.
Courage, Mendonca, the forum thank you.
I donāt get why any robot would not properly manage itās hidden SL. Why are they loosing all that ? If a robot takt a bet in the wrong direction, why isnāt it just closing the position like any normal manual trader would do ? Iām actually programming an EA and this is not an easy part, but implementing MM inside the EA seems to be complex but not that difficult (itās my first EAā¦).
Just added the last of the robots that was in my plan for this test.
[B]IrisFx [/B]is now installed (just a few minutes before i wrote this) and working in my account making this test something like a [B]six robots feeding frenzy[/B] (where the free margin is the only food availableā¦).
Are they going to eat the account and turn it into a big zero?
Are they going to cooperate and generate more free margin for the next one to enter the market?
Am I going to become rich with all that accumulated EA wisdom?
Weāll see and Iāll report that to you.
awesome ! keep us posted
Is it possible to adjust the stop-loss size on any of these bots?
Do any of them use Trailing Stops?
Most of them use dynamic stops and in a few it is possible to change their s/l but I donĀ“t want to do that.
I trust that the developers of the strategy have some clue of what they are doing and for that reason itās not the best idea to modify something about what we are not fully aware.
In that kind of robots the trailing stop does not apply because they follow the evolution of the profit and they try to analyse itās evolution to determine the best time to close a position (maybe Iām being too trusty over here, but, better be or run out of here asap).
Also, if in a certain strategy we make s/l shorter we risk to close the position to early and lose more often.
Again, I have to thrust in those guys that are supposed to know what they are doing.
The moment I lose total confidence in a robot Iāll simply put it away. Simple as that.
Ok thanks that helps me to know what you are thinking here.
What I canāt understand, is how a program can be smart enough to know when to enter, push the trade button, etc etc its all automated yet sometimes it puts a stop-loss so big it can erase 8 winning trades worth of profit.
Something doesnāt add up, either it changed the risk to reward ratio when it shouldnāt have or it is allowing a bigger stop-loss than it was before, or worse both, either way, its smells fishy.
Friday, 13, was going very well but [B]WallStreetForex [/B]decided to make a statement.
And what a statement!
It opened a short order for USDCHF and in less than 4 hours it blew away 120 pips !!! I mean one hundred and twenty pips !!
The overall of this robot is now again in the (very) red with a global loss of almost 8%.
As Iāve said earlier: when WSF loses, it loses in style.
Is style. My money. Thatās what it is.
thanks for that report i know now that i dont buy that one. what do you think of oddbot? the rumor is thet is like wallstreet but alot better and with a news filter.
Hi arbolive,
Sorry but you missed the pointā¦ This things happen in every robotā¦ even with MegaDroid.
WSF is not a bad robot. What Iāve just done was to reduce a lot the risk in that particular pair.
WSF works in 7 pairs and, for instance, I simply donāt use two of them: NZDUSD and USDJPY where it has the worst results.
Losing is always part of the game in this trade businessā¦
MDP also lost a lot last Tuesday and today it had very nice gains.
yes you are right , but what i meant to say is that oddbot has a better way of closing trades reducing high DD risk.
this is where i read it (although it has a bad reputation for copying WSFR but it isnt clear as they have different closing strategies)
Forex Software Tests | OddBot Live Forward Test | Birtās EA review
regards
At this time no more orders are expected and the week is done.
This is how the 6 robots are doing:
-
[B]MegaDroid [/B] appeared this week with two orders.
[B]MegaDroid has a global LOSS of 4.33%[/B] with 13 trades (12 winners - 1 losers).
MegaDroid was in LOSS of 5.23% last week with 11 trades (10 winners - 1 losers). -
[B]MillionDollarPips [/B]is doing well considering how the week went by and hold the gains.
[B]MDP has a global GAIN of 10.34%[/B] with 69 trades ( 37 winners - 32 losers).
MDP was in GAIN of 11.58% last week with 58 trades (35 winners - 23 losers). -
[B]MasterScalper [/B] had not a good weekā¦
[B]MS has a global LOSS of 2.14%[/B] with 185 trades (139 winners - 46 losers).
MS was in GAIN of 7.87% last week with 147 trades (119 winners - 28 losers). -
[B]WallStreetForex [/B] wasnāt in a good week either. As a matter of fact it was a very bad week for WSF. Based on the results of my demo account and the real account I concluded that there has a few pairs that are systematic big loosers and for that reason I simply removed them from the equation. Starting next Monday Iām trading WSF only with 3 pairs: EURUSD, GBPUSD and USDCAD.
[B]WSF has a global LOSS of 8.89%[/B] with 99 trades (73 winners - 26 losers). [B]Ouch!!![/B]
WSF was in GAIN of 5.54% last week with 87 trades (68 winners - 19 losers). -
[B]Forex Shocker 3.0[/B] had is first full week of work and I was expecting a lot from it. The week was hard and FS3 hold well where others failed. Anyhow thereās a dĆ©ja vu hereā¦ Nice profits, a lot of winners but one single loss makes all the profit go down the drainā¦ Itās hard to manage those stopsā¦ I knowā¦
[B]FS3 has a global LOSS of 0.80%[/B] with 19 trades (16 winners - 3 losers).
FS3 was in GAIN of 0.22% last week with 1 trades (1 winners - 0 losers). -
[B]Iris Fx[/B] was hired for the job in the middle of the week and it has a different method of trading.
Normally the orders from all the other robots are placed for immediate execution.
Iris Fx works only on EURUSD in H1 and H4 with 3 different strategies and places Buy Stop and Sell Stop orders waiting for the price to get there and, for that reason, giving us some clues of what heās planning to do. The pending orders are modified/canceled with the evolution of the market and, I have to say that, for now, I like what I see, but itās too early to make any kind of conclusion.
Starting in a turbulent week the results are as follow:
[B]Iris has a global GAIN of 1.00%[/B] with 5 trades (4 winners - 1 losers).
[B]Globally the 6 bots have a combined LOSS of 5.8%.[/B]
Globally the 5 bots had a combined GAIN of 20.65% last week.
Thatās the problem of this markets. From almost 21% gain last week to almost 6% loss.
Nothing is lostā¦ but next week seems to be everything but calm with all those downgrades of S&P to a few European countries.
How are all those robots going to react?
The difference between these two exemplifies exactly what I was getting at.
[B]MegaDroid has a global LOSS of 4.33%[/B] with 13 trades (12 winners - 1 losers). 1 Loser erases the gain of 12 winnners, absolutely shouldnāt happen, ridiculous. This bot has an incredible 92% win rate yes yet never made money.
OTOH
[B]MDP has a global GAIN of 10.34%[/B] with 69 trades (37 winners - 32 losers). This bot, was obviously programmed by someone who understood money management. With a nothing to write home about 53% win rate, the bot has set proper stop-losses and made money.
Now I know why this bot was voted the most popular on a different website.
Since most of the bots have good win rates but are not making money, it seems clear to me their trade strategies are working but their money management strategies are NOT. This is why I asked whether or not those settings can be modified, if you can take a bot with a 70% win rate and set it to have slighter higher profit targets and take smaller losses, youād have a real winning combination. As it is now, only one bot looks good to me, even though it might be using the weakest trading strategy.
Thanks for all these reports.
If I recall the beginning part of this thread correctlyā¦The Megadroid numbers are influenced by the fact that he incrementally increased the risk ratio as he got a series of wins, then hit his loss as the risk ratio was at its highest. If the risk level had been set at the highest amount right off the start we would be seeing a better number.
Hamno is correct but nevertheless the loss was too big.
The loss would be smaller if Iād set the risk high from the beginning (and from the lack of experience I haven Ā“t done) or if I hadnāt raised the risk by late December (which I did by excess of confidence).
Itās the coulda, woulda, shoulda as usualā¦