Okay guys here we go. Another forward test. It will be a live forward test but because I am new to this ea I will be starting it on demo.
I will be trading 2 pairs EUR/USD and GBP/CAD I have reduced risk from default 2 down to 1
That’s about it. I figured we can discover together if this ea can produce a positive result or not.
reserved for future
Looking forward to this thread and how Tom’s EA plays out!
Will follow for now!
right on! I’m not to sure what to expect. According to a good friend of mine i can expext 10% a month with these two pairs on conservative settings.
One thing I do know about about grids in general there is mathematical certainty that they can succeed and there is mathematical certainty that they will fail.
The thing to realize is that grids are very risky and martingales are even riskier. Yes they can work with very conservative settings because they need a big enough account to sustain losses as they multiply until they can eventually close there basket in profit.
I will see and when I have a little time I’ll do some backtesting. For now I am comfortable with demo so I can get a handle on how Tom trades.
so far TEA is doing well. My computer updated during the night despite the fact I have it setup to update on Saturday! Anyway TEA is managing the trades just fine. A good sign to me.
It’s only been a couple of days. Much to early to tell but I have a good feeling.
hi
how can we get hold of this EA?
is it out for sale somewhere?
thanks
Here you go
So far today TEA is doing okay steady growing in terms of closed trades but floating dd. I like grid traders though and I am comfortable with the dd.
This ea would be great ti set up on a rebate program
that is too expensive.$2000 for an EA.
regards
fred
I haven’t tried this EA, and as has been said $2k is too much. However it is a martingale system which can blow your account. One of the reasonably good commentators on systems; is Birt - eareview.net/ - & he casts doubt also; but the very best of lick with it!
Jeff
Yea $2k is a lot for an ea I agree that’s why I didn’t get it the first time it was released. $97 a month is not unreasonable to lease but if you crunch numbers…
I am anticipating 10% a month so I would need a $1000 account just to break even and at least $2-3k in order to trade the two pairs that would yield the 10%.
I have some faith which is whi I bought this but $2k is only the tip of the iceburg if it blows my account that is why I’m trading demo probably all summer at this point before I go live.
Yea its a gris/marty it is a bit risky. And I do enjoy Birts reviews but I will make my own nind up and yea my pairs are not out the box so my results will different.
Of course I will share my results with the community good and bad. Have a good weekend.
Btw I’m having connectivity issues with my internet. It may skew my results. Ill let you guyd know by Monday ev evening. I’m actually posting from my phone atm.
Have a good weekend,
John
Thanks a lot johnnykanoo for starting this thread. I am very interested in this EA. The problem is that it has many negative reviews all over internet due to a major draw down they had on Last May 2012. However one of persons I know is using it for about a year and his account is going in consistent profit. They release the trial version about 20 days ago. I used that but it didn’t make a nice profit but I understand that there are good and bad months and it may generate some good profit in upcoming month.
So what is your opinion till now about this EA? Its been how many days you are using it? Please bro i would love to see this topic updated on daily basis. I have subscribed to it.
Please Reply,
Thanks.
A major thing I see in this ea is that it does not use a SL… So potentially it can just drown your account in a margin call eventually if something goes worng.
I don’t think that is true. BUT I am pretty sure the sl is something like 600 pips so…
if you were trading .01 per $1500 that would be equal to .01 x 600 or 6 ($60) per open trade for three levels or $180
so three level stop loss would be .03 x 600 or about $180 or 12% risk
if it goes into the the fourth level the risk would be 24%
and if it goes 5 deep than you would be risking 48% of your account! So yea yikes not theee safest ea’s but better to know what you are getting into.
Now just to crunch numbers (they are somewhat hypothetical because I don’t have enough data yet but I will soon enough)
but in the meantime…
This ea goes 3 deep at around -180 pips so that is roughly every 60 pips so for the above case scenario (if I am correct)
would look like
-180 @ .03 (total level 1,2, and 3)
-60 @ .03 (level 4)
-60 @ .06 (level 5)
And I think there may be an emergency equity stop loss as well. I will find out for sure.
so my preliminary thoughts on all this are…
If it were to hit a full equity stop it would erase about 5 months worth of gains
I can live with it but alot of this is guess work. I am not comfortable going live until I have at least some demo time. At this point probably until the end of August. The reason is, this ea does not rely on broker feeds because it is a grid and relies on a basket so I think in this case demo results are relevant.
Having said that live forward test is really the only way I will truly know for sure.
I will keep you guys posted.
Thanks,
John
edit I think my numbers are a little off. The first three level loss would also depend on how they are opened so
level one would be -60
level two would be opened at the -60 so than by the time level 2 went to -60 level 1 would be -120
level three would open, the first two levels would be -180 and than if this one went -60
the total levels 1-3 would be a combined -240 @ .01 or 2.4 lots or about $240
H Johnny,
I know you know what you are doing with these EA’s as I’ve read many of your posts over the last couple of years about various EA’s that you’ve used. However in particular with martingales and grids it is all about the sequence (of candles) that you hit. Doing a forward test over a couple of months might not give you a true test and might lull you into a false sense of security. It only takes one bad sequence to blow the account. If you don’t get that sequence in your forward test, you might think it is safe to run, however all it means is that you didn’t hit a particular sequence in that particular test period (obviously).
Perhaps it would be better to widen your test to use more pairs. You stand a better chance of then coming across a good sequence and/or a bad sequence within the limited timeframe. I know that that each currency pair can be unique in its patterns, and you might say that running it on USDJPY bears no resemblance to running it on USDCAD, but, it would give you an idea as to how well the strategy performs generally.
Also, I would suggest you back test this to death (assuming the EA does allow accurate back testing and hasn’t been written to manipulate back tests). That should then give you an idea of how many good and bad sequences you are likely to come across, over a particular period of time.
J
@ johnnykanoo
How is your experience going with this EA? I am also testing it and have attached to two pairs (EurUsd and GbpUsd) on a 5000 dollars 1:500 leverage demo account. According to the manual you can set only two pairs for the 5000 dollars account so I am testing it as per same settings. My risk level is 10 for each currency pair so total risk level is 20. Attached the EA on 10 June. So far it has made 90 dollars and drawdown is 13.07 dollars at the moment which is great.
Thanks.
@jedster
I agree with what you say and I have some experience. Two of my favorite ea’s ever were both martingales and one was a grid as well so I am familiar.
The reason I am testing these two pairs is because I don’t like any other pairs for TEA EU and GCad both have characteristics which seem to agree with TEA. lol I made a rhyme.
Anyway Grid/Marty’s like this are dangerous and I know that! At the risk level I am considering I can only afford to hit one bad sequence in a 12 month period.
Perhaps the safest thing to do would be to withdraw my original deposit if I get the opportunity.
@Kashif314 I am happy so far. TEA has been a steady winner. The dd has been expected so no shock there. Sounds like your account is doing well Awesome! Definitely keep us updated.
Thanks,
John
Thanks Jhonny for the reply. I think the EA is managing great in such volatile Market and is gaining some nice small profits. I don’t get this when people say that someday it will blow up the account. I don’t know much about strategy but what I see is that it is trading on micro lots and I think for one pair one should have 1500 to 2000 dollars liquidity and then there will be no problem. I maybe wrong! What is your opinion on this?
They had a large draw down last year on May but they have know learned from their mistake that EURGBP pair should not be traded with this EA. Also I think JPY pairs should be avoided too because of their high volatility.
You are correct this ea sucks with jpy pairs and eurgbp as well. those pairs can trend for a while and that is dangerous for this ea. the two pairs im running are doing well. I have been told to avoid gbpusd as well.
AS for $1500 per pair, I feel that is the minimum one should have so yea correct again 
So far so good banking small profits. I am keeping a watchful eye.
Thanks for the reply. Bro who told you stay away from GBPUSD pair? This is the recommended pair by Tom. According to the manual that comes with this EA. They advise to use Pairs in orders as they stated so EURUSD is the first pair and the 2nd is GBPUSD.
How much it made for you on the EURUSD and GBPCAD so far? Please let me know so I can decide to test GBPCAD instead of GBPUSD. Thanks.
my first post has myfxbook.
btw TEA is doing very nice indeed! I am extremely happy with the results so far and if it continues I will certainly throw this on a real money account.