Smart FX Technology

Trading Systems Expert Advisors and Automated Trading
227

Quick List of my long-winded explanation…

Nov 3rd and 4th - turn off Breakout Hunter and Master Scalper
Nov. 7th - turn off Breakout Hunter and Master Scalper (except UsdJpy)
Nov 16th thru 17th - turn off Master Scalper for EURCAD
Nov 24th and 25th - turn off Brekout Hunter and Master Scalper
Nov. 29th - turn off Breakout Hunter and Master Scalper (except UsdJpy)

Dec 7th - turn off Master Scalper for EURAUD
Dec. 18th thry 19th - turn off Master Scalper for EURCAD
Dec 22nd thru January 4th - turn off all EAs

Read more: 301 Moved Permanently

Thanks Robert

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what time frame do the ea’s run on and i’m assuming that it will run on 50:1 leverage correct?

229

Hi forexproptrader,
The EAs must be attached to 1 minute charts (M1), only.
The robot is looking into the trading channels of the M1, M5 and (in some pairs) also the M15 channel, but does all its calculations based on 1 minute bars.
We all run on 50:1 in the US., but if your country allows, 100:1 is ok as well.

230

What happens if i load the ea’s on other pairs such as gbpjpy, will it still execute the same strategy or it won’t trade on those?

231

Hi forexproptrader:
It will trade, but it will not be pretty.
Each pair is calibrated for a particular pair, and it will not work well on another one. You could have a couple of good lucky days, but in the long run it will not work well.
Each pair has its own range. TP and SL values would be different, as well as trading hours, reports, the works.
We have tested every pair, and even went live with many at some point. But the drawdown was too hard and chose to let them go in the present strategies. And that was using their very own, well calibrated settings! If you just plug any setting that is meant for a different pair, it would probably be a disaster.

232

Hi Robert,
Thank you for your quick replies. I am very close to purchasing both ea’s. Is there any information regarding the logic or
strategy they are using. Also is it possible to adjust the stop loss feature? I am concerned that the scalper is looking to make 3-10 pips but taking 100 pip losses?

233

Hi Robert,
Thank you for your quick replies. I am very close to purchasing both ea’s. Is there any information regarding the logic or
strategy they are using. Also is it possible to adjust the stop loss feature? I am concerned that the scalper is looking to make 3-10 pips but taking 100 pip losses?

Read more: 301 Moved Permanently

I know I’m not Robert but I figured I would add my 2 pips worth

With regards to an ea that has a larger stop loss and a smaller take profit such as the scalpers, than they must rely on a high win rate to be successful. As of right now the scalpers have around an 85% win rate.

Also I recommend try to set yourself up as an Introducing Broker and than you can earn a commission on every single trade

234

Hi Johnny,
Thank you for starting this thread. I have examined many ea’s and this is the first one that i am close to actually purchasing. I just don’t understand if the strategy is scalping for 10 pips why it needs a 150 pip stop loss. I actually am setup as an IB and offer rebate trading to clients so they don’t have to get setup as an ib too. what is your myfxbook link for this ea?

235

one more question for now, are the sl/tp dynamic or fixed with these 2 ea’s?

236

yup … i noticed the same thing profits are small and lost is huge !! … i hope that can be adjusted !

237

Well, here are the results so far from my demo account, which started with a $5000 “deposit” on Oct 19th.

euraud 45 trades, 40 : 5, £335.59
eurcad 12 trades, 10 : 2, £75.54
eurchf 22 trades, 18 : 4, £17.88
eurgbp 19 trades, 17 : 2, £72.68
eurusd 19 trades, 12 : 7, £-76.35

usdjpy, no trades. weird.

I’d suggest that the scalper is worth buying just for the euro vs aussie dollar at the moment, that is if you have 5k lying around. As it is, I’m tempted to start with £500 of my own money next week, using the scalpers only.

238

sudacan, from reading through this thread i see you actually purchased these ea’s, lost money and shut it off. have you
restarted them at all and do you have a link to your myfxbook account?

239

The issue of small TP and Large SL is at the core of the scalping strategy:
a) You certainly have to have your SL outside of the trading channel, otherwise you choke the pair, no breathing room, and you make your own losses.
b) Scalping strategies take what we can, as many times a day as we can. To say that we only take 3 pips is not correct:
There is hardly ever a day when a pair has more than one SL in a single day, no such thing basically. And during a day, we scalp 5 or 10 times the pair, each time making 3 pips in the EurChf or EurGbp, which have the worst ratio TP/SL, but the best profit margin in the long run. So the TP for the whole session is 3 pips multiplied by the number of scalping trades, more like 30 pips TP combined!.
That is the idea of scalping.
And yes, if you get stopped out you lose a couple of days in that pair, no big deal. Hopefully the other pairs are helping along…
But this remains a time honored way of trading, because it works.
In other pairs the difference is not so large:
UsdJpy TP: 13, Sl: 12
EurCad: TP:12 Sl: 62
EurAud: TP:13 SL:40

The TP is dynamic in some of the pairs, as well as the SL, thru the Breakeven function. Most pairs also have after-hours settings which reduce TP & SL when the London session begins, just to close the day’s session before the market goes wild in the European session.
The SL has been reduced in the v7 version, since with the help of the News Filter, we expect less variations over the course of the hours that we actually trade. The drawdown is also reduced. You can see those figures in the backtesting reports posted in our website.
Themtharhills, if your UsdJpy is not trading, check the settings. If you need help let me know and we’ll check it out. It should be trading daily.

Forxproptrader: Here is the link to our new Real Account, opened with the release of version 7, which contains the News Filter and other improvements.

Broker: MB Trading (ECN), TimeZone: New York (currently GMT -4 on DST). Entries marked “withdrawals” correspond to the ecn commissions on trades charged by the broker.
Started trading on Oct.4th, 2011,

Since the Real Account just started, I am posting the older demo tests.
They run each EA independently and show several months of trading.

Breakout Hunter, started in April 2011. Updated to version 7 on Oct. 4th.

Master Scalper, started in August 2011, started with release of the previous update. Also updated to version 7 on Oct. 4th.

240

does the ea add pips to account for the extra ecn commission compared to trading at a broker that incorporates commissions
into the spread? does the ea allow us to adjust the sl tighter if we want?

241

hey forexproptrader
well i was thinking of stopping it but i didnt , but just an hour ago i stopped only the EURUSD EA because it will defiantly gives me a heart attack and send me to the ER if i didnt !!
ill wait for few days and give it a try again !!

ps.
i see u already followed me on myfxbook … so i guess i dont have to answer this question :slight_smile:

242

yes i found your link i see it is down over 200 pips today. do you have both the hunter and scalper running on this account?

243

yes my friend …i do:17:

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I don’t understand that when i compare your account to roberts account he doesn’t have the 5 losers you do and is carrying 2 open losers for 100 pips and you are flat? did you close those 5 trades out manually?

245

mmmmmm maybe coz for the past 2-3 days i was trading long only!! coz i noticed that the majority of my EURUSD bad trades was in short !!

loooool i tried everything to stop this thing from losing that many pips !!:22:
:27:dont tell Robert he will get mad

:stuck_out_tongue:

246

I really think if you are going to buy EAs you need to mess around with them as little as possible. How can you judge performance of an EA if you are effectively manipulating the results? I mean your results, if just taking longs or closing trades early, have very little to do with the EA.

I am up >30% on demo in 3 weeks (slightly higher than it should be as I accidentally had a % setting wrong for a couple of days that worked in my favour but was high risk) and despite going live at a terrible time (last week) and being down nearly 4% in one day I am now back to +1.25%.