Hi Arbolive. Looks to me like the problem is your lot sizes are too large for your account size (mini 0.1 not micro 0.01).
yes you are right, it says lot size of 0.9 .i guess im closing that test account by now as it isnt really what im looking for. ( im planning to start with 1000 or 1500 and micro lots.
Hello Arbolive,
The reason why your drawdown is larger than normal is that your account allows mini lots (0.1) as their minimum lot size. An account with less than 10k is inadequate for such large minimum lot sizes. You should be trading on a micro account, where minimum lot sizes are 0.01. This will allow the Money Manager to trades smaller lots, more in line with your account balance and more in balance among the trading pairs.
Many traders believe that the better spreads offered by brokers for mini accounts with larger minimum lot sizes are advantageous, but it is not true. If your account is not large enough, you wind up over-trading and getting in trouble in times of normal drawdown.
I suggest that you restructure your account with your broker, using one with micro lots, or change brokers to the many good brokers that offer micro accounts.
I’m looking at this as an option and just wanted to know what period of time does this chart represent? (ie 869 trades over how many weeks/months?)
Hi Jayjonbeach,
That forward test at Forex Verified started on Nov. 1st.
You can go to the statement and see all the trades…
hi robert,
when you change the EA with the settings for MBT, this issue is solved?
Hi Robert
I was just wondering, would tweaking / strengthening the volatility filter to avoid trading on days like Tuesday result in improved performance ? Or would we miss out on more winning trades than losing ones ? Seems to me from looking at your chart that there have been 4 big losing days. The data on these days should provide a way to make a very good product even more successful.
Hgus,
I just wanted everyone to know that my account is down a little too. January has been rough so far but having said that I am just fine with it. EA’s experience drawdown sometimes.
Anyway nice to see so much participation!!!
I also see we have hit 1000 posts Awesome!!! I’m glad a lot of people are here and sharing there ideas.
I’m sure the markets will “normalize” and we will get back into our groove. I knew January was going to be tough.
Mrql,
The issue is the account you have with a broker that has true mini-lots (0.1 standard lots)
MB Trading has what they call “mini”, which in reality is a micro-lot. Using MB Trading is fine, since all their accounts will trade the small lot size (even though they call it 0.1). So yes, if you have MB you are fine.
Same for Hotforex, Pepperstone, and a hundred others. But not for true “mini” accounts, such as FinFx and others.
Themtharhills,
That is indeed the question!, if you never trade, then you make nothing, so it is difficult to choose the correct NoTrade days. For example, the Christmas - New Year break was a lovely time to trade, where in other years it was a mess. This year the rally started later than usual: we waited till Jan. 6th, according to past years statistics, and the rally started on Monday! Next year we’ll probably wait till the Wednesday after the first Non Farm Payrolls report, very much like you suggest… let’s see what it does.
Hi Robert, and a happy new year sir !
That’s kind of what I meant, but also not quite what I meant, probably my lack of forex vocab preventing me from expressing my thoughts correctly, I apologise. 
Anyway, the main factor in the losing days appears to be market volatility, large movements in price. Assuming that the EAs keep an eye on the price, would there be a way of them not trading if, for example, the price had moved by more than say 0.0500 (enter a sensible number here for sake of argument) over a 10 (enter another sensible number here for sake of argument) minute period ? Assuming that you already have something like this in place in your “volatility filter”, is it just a case of adjusting the filter to below the levels that occur on the 4 days that the EAs have lost, or is it less straightforward than that, e.g. would making the volatility filter more stringent mean losing out on bigger wins than the losses that have occured ?
Hi themtharhills,
Believe me, we have tested the volatility filters with utmost diligence and patience, gosh… thousands of backtests (literally) and years of trading manually and automated, trying to get the best parameters, which I believe we do have.
The volatility filters in the EAs are looking at short and long term price channels, but they cannot see the future. While this may sound funny, it is quite painful, since it would make us all rich.
The issue is that when we start scalping after the European close, everything looks normal. Then the session may be quiet, as expected, we make our share of pips, but still have a few positions open. The problem is that when Japan or Europe come back, they may trigger a strong rally that may cause the losses that we had the last few days.
If you can think of a way of predicting that, great, I am all ears.
To stop trading today because of what happened yesterday simply does not work. And what happens tomorrow is unknown. The best we can do is to close positions early when London opens, even with a small loss, just to avoid the possible volatility.
We can avoid rallies when they are produced by scheduled events, reports, etc., but otherwise, we will have many good days and a few bad ones, like all trading strategies.
That is not a problem, if we can keep the drawdown small and our risk controlled.
thanks for your reply robert, i changed broker today and im triying pepperstone razor demo account.
actually im testing with 4 brokers
hotforex
alpari
pepperstone
fxcm
just want to use some of those accounts to play with settings and compare.
Hi Arbolive
It would be interesting to see which broker performs best.
ive been reading some posts and you guys say you have problems because of lot size, im about to purchase this robot and use it on a HF account of 200 usd, should i leave everything default or would you recommend changing anything?
i didnt go through all the posts, theyre too many!
thank you
Nabil
Read more: 301 Moved Permanently
Hi Nabil,
Robert had recommended that $250 would be the minimum for Master Scalper and another $250 if you will be running Breakout Hunter also. Of course, the more you can afford, the better.
When you install it, just load each EA onto their appropriate chart and leave the settings to default. This was how I started and it was good for me.
Hope this was helpful.
Happy Trading!
Thank-you for your excellent reply Robert. Sadly I have no crystal ball either. daft question time, but are there other markets that might impact on volatility prior to Europe or Asian openings ? Kind of like the us dollar getting stronger when risk markets fail ? Again, excuse a newbie for thinking out loud :). I should stress that Li am very happy with your product and the excellent support and comments you give here.
Nabil,
$200 is far too little in my opinion, you do not give the EA a chance to breathe! You will get a margin call as soon as there is a bad day. My advice would be to buy the EAs, use them on a demo account until you have at least $1000, build confidence and go live.
Be careful of the leverage too. I’m not sure how far you’ll be able to go with 300-1 leverage with that amount. Even less breathing space if I understand things right.
Tim
downed laverage to 50:1, (this robot has an amazingly patient live support! i wouldnt have handled me as well as they did)
its on live, i did demo just to make sure i do everything right then i went to live, i dont think demoing really affects anything, also wn i started trading i went live, burned 30% of the 100usd but managed to gain them back and learned why risk management is probably the real way to go in trading or youre dead!
thing is, its been on for some hours and no trade opened, im dyiiinngg to see this baby in action!!! did anyone get a trade? do we all open same trades? or is it different for each one of us?
I never got to notice but, on mt4 platform, when internet drops(my internet, router problems) and then comes back on, does the platform log in to my account automatically or i have to relog? i never noticed this i dont remember if i reloged or did alone
thanks for everything 