Fraz and mark welcome to babypips.com Fraz look forward to seeing your results/
@mark I am using trustvps with great results. I know your asking Robert just figured I’d throw my opinion out there 
Thanks johnnykanoo,
My results are on myfxbook under fraz, sorry I dont have enough posts to add links
Hi Traders:
Following Fraz’s inquiry about some differences in broker’s performance, I answered him with this rather long-winded explanation.
I thought that Forum traders would like to read it:
"I checked your page and saw the couple of large losses on EurChf and EurAud. These 2 pairs are notorious with brokers that push up spreads during the scalping hours to get rid of scalpers.
Different spreads will lead to different fills and different results.
Different fills can even affect performance between 2 accounts with the same broker!
This is normal since they are actually buying and selling us currency contracts, it’s not just a number, like it is in a Demo account (hence the difference in performance between Demos and Live accounts)
Once two accounts are off sync, the results may vary for the rest of the day.
This happens in all kinds of trading: If, for example, we both put a buy order for a stock, at the same time and with the same broker, we are also going to get slightly different fills. That’s trading, buying and selling at a price that changes constantly.
In the case of Forex, and particularly of scalping, which is rather high frequency trading, that may happen relatively often.
You may get into a trade that I did not get into, because the market reversed at just that point.
From that moment on, our two accounts are out of sync.
[U]If we are with the same broker[/U] this may happen because I did not get filled and the EA’s signal went away on the reversal, sort of missed the chance for the trade. This often happens with variable spreads, like in ECN brokers. The funny thing is that occasionally you could actually benefit (even with worse spreads) because you are not hooked with that order. If the trading session ends, you will not enter more trades that day. So even though I got my order filled, I may be stuck with a losing position and you got spared: I may be facing a Stop Loss, which may account for the different results you are seeing.
[B]This is a rare case, since usually worse spreads mean worse performance overall.[/B]
[U]If you have a different broker[/U] who never had that price available, then you don’t get to place the order at all. This is how it works:
Let’s say that the price is 1.00000 and my broker has a 2 pips spread. My broker will sell at 1.00020 and my EA will be able to enter a “buy” order at that price. Your broker, who may have a 4 pips spread, will not even offer the chance to buy at my price: they will offer you a 1.00040 price, because of the higher 4 pips spread. Your EA won’t send that “buy” order because it does not want that price, since it is not a good “buy” according to the strategy. The EA would like to buy at 1.00020, but not 1.00040.
If the price reverses at that point, I am now in a trade and you are not. And so it begins.
If I am busy with my trade when you are not, you could enter a trade the next time a signal comes along, which may in opposite directions than mine.
If the price action remains normal and the price keeps bouncing up and down, both you and I will make money in time, even though we are out of sync. However, if the price takes off in one direction, your position may clear at a win and mine at a loss, or vice-versa. Luck of the draw, it could benefit you or me, but it will not be the same.
That’s Forex!
Regarding the inquiry on VPS recommendation, I would ask your broker: Most VPS are competent outfits running a decent show. The main difference between them is the proximity to your broker’s server. This determines the latency, or time lag which may affect whether an order gets filled or the opportunity missed. This is particularly true in news-trading, with large spikes, where time is of the essence. We do not do that sort of trading…
So in our case it is not critical.
Some brokers offer to pay your VPS fee just to get your business. Check around, you may find a free ride.
Thanks Robert for the detailed explanation, I’m currently with FXCM mt4, can anyone recommend a broker being used with smartfx that is doing particularly well?
Day 2:- currently back to square one as profits have been wiped.
Thanks
Fraz
Folks can anyone recommend a ECN?
thanks
Fraz
We use MB Trading and FinFx, but there are other good brokers.
Thanks Robert,
Have you got a real account active with the master scalper and breakout hunter showing on myfxbook.com ?
Fraz
I just started it today and uploaded it to myfxbook, but it is still pending so I don’t have a link yet.
Not sure why it takes that long this time, maybe real accounts take a while to verify…
Since Thursday and Friday are No-Trade Days because of Euro Interest rate and Non Farm Payroll, the scalper will be standing by. The No Trade time for Master Scalper is 16 hours before and after the event, so we do not get caught scalping when traders are exiting positions ahead of the news, which can start a trend that will lead to losses in a scalping strategy.
Breakout Hunter will enter trades, but will have a no-trade interval 2 hours before the event, and waiting about 15 minutes after it as well, to avoid getting caught in the spikes of the news release. If the rally continues after 15 minutes, we want a piece of it.
So cool that we do not have to babysit reports any more… Yeah!!!
I will post the new real account myfxbook link soon.
Hi Traders,
Here is the link to our new [B]Real Account[/B], 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. Updated to version 7 on Oct. 4th.
Hi Robert,
Thanks for posting your live account details, however I have noticed that the account has $500 in it. I thought each pair needed $150 so that each pair can trade?
Have you got some turned off if so which ones?
Also this account is this with MB Trading?
Thanks,
Fraz
Hello Traders,
The real account was opened with $500 because we expect significantly less drawdown thanks to the News Filter.
Of course you would be more comfortable with a larger account, but our point was to prove that a smaller account can handle the action well, since lots of traders would like to test our EAs with this level of funding. Somehow in our customer support chats we keep hearing the $500 level over and over…
A question for Robert from smartfx :
what type of account do you have at finfx? Normal or ECN account?
I am a little bit confused regarding choosing broker for this robot, does the broker have to be ECN or not?
Best regards, PA
ECN brokers are the best, in this or any other kind of Forex Trading.
We have had our accounts with ECN brokers only, for many years now.
The robots will also work with a regular account or with a regular broker.
The strategy will make a profit from trading foreign currencies. That profit will be split between you and the broker, according to the terms of your account, which will be outlined in terms of spreads and/or ecn commissions.
The better your broker and the better the kind of account, the more money YOU get to keep.
Oh now I see, I was confused, because you mentioned you have one account with 500USD of starting capital, I was not aware, you can open an ECN account with such an small amount, however, I’ve checked MBtrading website, where it says minimum deposit is 400 in base currency.
Best regards, PA
Hi Fraz, I just thought I would offer my input as a newbie to not only Forex but Babypips too. I reside in the UK and have had a pretty negative start to trading having incurred some heavy losses. When Jonny started this thread I was sceptical but I decided I had nothing to lose (other than £500) so contacted SmartFX. I received an email very quickly offering in-depth advice about using the combo robot and also which broker they recommended. That was a week ago and since then having opened an account with MB Trading and installing the combo bot have been really happy.
I have no affiliation with Robert and his team at all and due to my lack of experience cannot compare them to anyone. All I will say, is that their customer service is exceptional. Steven even did a remote PC session with me to ensure that all my settings were correct.
I have decided to dedicate my £500 account to this combo bot and see what happens. Here is a link so far to the results. No overall losses which is great!!!
https://www.myfxbook.com/portfolio/mb-trading/174390
I’ll be happy to answer any questions as long as they are not technical…lol
P.s. THis is not my only trading account, it is the opne I have solely run with the robots.
Thanks Mark,
However the link doesn’t seem to work. I think you need to open it to public. Also have you got all the currencies turned on using both ea’s? As thats my plan too but thought all currencies wouldn’t work with just £500?
Thanks
Fraz
Hi Fraz,
We are expecting it to be fine using all the pairs with $500, given the News filter’s anticipated smaller drawdown.
With 500 pounds you should be just fine.
Here is my small $500.00 live account running the combo bot. Note: Started the Bot on Sept. 26th. Cant post links yet so fill in the blanks with dots.
www myfxbook com/portfolio/smartfx/172371
Mark and JR welcome to babypips.com
Mark I’m glad to hear you are off to a good start. Fraz is right your link doesn’t seem to work. I hope you guys keep us posted with your results.
My results have been phenomenal so far! Tomorrow I will post some stats