Thanks again for the great replies DougRH.
A lot for me to do and think about.
Much appreciated,
Chris
This gets dismissed as āparanoidā by many, but there are very many successful experienced ForEx traders, especially those that have worked inside the industry that have verified this and know it to be true. While the brokers will tell you: "why would we thwart your trading efforts? I make money on the spread so I want people to trad a lotā. While this is true: āas far as it goesā they are their to make them money and not you and they ARE āābettingā against youā Use ECN / STP brokers whenever you can. These have no brokers intermediateādealing deskā that controls the trading environment that they are presenting to you and can and do alter it constantly dynamically in their favor. ECN / STP brokers are direct links to the ForEx InterBank liquidity providers that the large, institutional traders, including these providers themselves trade on.
One professional trader that has 5 successful 'bots that have averaged over %25 per year for the last three years and now offers his services to a small group of clients recently reported on a US brokerage that got caught with their fingers in our wallets and are being forced to repay a LOT of traders for their rip off tactics going back numerous years. Think they are the only ones doing this? VERY unlikely, they were just stupid enough to get caught and also the US has recently tightened up the operations mandate on these brokers including the fact that they are now required by law to tell you straight out that they are indeed working against you.
So why doesnāt everyone only trade with such ECN/STP brokerages? Evolution from a growing retail market and competition: Itās only been the last ten or 15 years that the āretailā ForEx market has come into existence with the growth of broadband internet available to the masses. One used to need to have $100M just to ābelly up to the bar.ā Thus the sprouting of so many brokerages now. Why? Because they can make a killing on the large masses of us small time traders to skim from. In many cases, ECN/STP accounts are still out of the reach of small retail traders. By and large the brokers arenāt promoting these because they lose control over manipulating the market in their own favor. But this IS changing due to the increase in knowledge of retail investors and competition. Their are more coming into existence with lower requirements that are becoming more accessible with lower entrance requirements. I suggest making it part of retails long term trading plans to migrate to such brokers ASAP. But be sure that you are at a point where you are still going to be profitable with many that have considerably higher proportional trading costs. But their are more and more that are coming into existence targeted towards the hoards of us small retail investors and are starting to compete for us. As with the ForEx market as a whole (hole? (< 8), knowledge that comes from experience, research and work. Searches on the internet will bring back numerous results about such ECN/STP brokers sometimes including info on the specifics of commission structures and account requirements.
I rather suspect that their are now numerous ForEx brokerages that started out as traders and were successful enough at it &/or put together a business plan as they realize that they can make a lot more money with a lot less risk by being the āhouseā rather than they can as an individual retail trader. Think about it? I have. In the current market is as they say a āno brainerā The stats quoted vary, but it is usually said that only 5% ~ 10% of (retail) ForEx traders make profits from the rest of us. I was rather surprised a couple of years ago with the tightening of the US restrictions that required the brokerages to publish these stats that one of the ones that I was using stated that about 1/3 of there clients made money.
Gambling has absolutely no attraction for me. But it is very easy to get caught up in this. Stand back and take the broad view from time to time and do a very honest analysis and then act on this: learn and adapt and trade smarter.
I purchased this EA two months ago. Looking at the EA vendorās myfxbook, I can see that this bot has been losing ever since. I hope that this is due to holiday season and that this trend will turn around soon, or I will disable this EA. Too late for a refund.
so i dont know how johnny makes money with this robot?it seems he is here to promote all Forex robots in the market.
this is my opinion.
Fred
actually that is not true. I am not a promoter. I only post reality. I have been trading this bot live for a few months now and it does well overall.
eur/usd has had only 1 stop loss since Aug 1 for me and its last trade was 9.2 for +20.8
gbp/usd has takena beating overall
usd/chf has done very well again only 1 s/l since August
usd/jpy is basically break even +22 since august
eur/chf has done poorly overall
aud/usd has been a powerhouse
eur/cad has been doing very well lately
eur/jpy has been doing awesome. there has been only 1 sl and another -57 trade. all others have been winners
usd/cad is breakeven. Its been quiet lately
aud/jpy doing pretty good. this one has been quiet lately too
aud/cad has done well but also quiet recently
eur/aud has had anice winner at the beginning of September but quiet lately.
Fredgold these are live results not demo. I donāt care if you buy it or not. I donāt promote everything blindly. as a matter of fact there are plenty of eaās that suck wallstreet is not one of them and I do trade it in my real live account. I had a mishap with an ea in my test account and it blew it. This was around the second week of August so I decided to take 2 weeks off till September to trade again.
and fred if you want to know why I make money and maybe you or others may not. for one I donāt rely on anyone at all to do my research. I do it myself. I monitor my trades and get an understanding of how eaās trade. I come up with other dynamic ways to make money like getting rebates. I try to remain patient and realize this is a marathon not a sprint. I adjust my risk at least weekly. If a pair is doing poor I cut risk if a pair is doing great I increase risk.
I actively and consciously manage my portfolio. Thats it the secret to my success is hard work and time period.
I have also been sitting on the sidelines when it comes to this particular Wallstreet EA, 'cause Iām very concerned over its very large SL. I do think this EA need some further tinkering from its designers.
To Johnnykanoo ==> I thank you for the information regarding the management of your EAās and monitoring your trades. Your outlook is something we should all take to heart.
hi Johhny
I did not mean to hurt your feelings.we are different persons ,so think differently too.I just wondering if there is a good working EA exist in this world,then big banks could use it and worth billion $ for them.if iām wrong,let me know.
thanks
with all respect
Fred
Today this EA made another whopping loss by trading EUR/USD with maximum S/L. :34: This EA is banned from my MT4 until further notice!
Well Wallstreet is doing really well this month. Iām glad to see this ea is back on track
stats for December:
eur/usd 5 trades 4 winners net total pips +71.4
gbp/usd 5 trades 5 winners net total pips +96.3
usd/jpy 1 trade 1 winner net total +3.1
usd/chf 12 trades 11 winners net total +142.4
[B]4 major pairs total: +313.2 pips for September[/B]
Alternative pairs:
aud/usd 6 trades 5 winners net total +23.5
aud/jpy 4 trades 2 winners net total -9.8
eur/jpy 16 total trades 14 winners net total +103
usd/cad 14 trades 13 winners net total 126.1
eur/cad 10 trades 10 winners net total +80
aud/cad 2 trades 1 winner net total +8.6
eur/aud 10 trades 6 winners net total -16.1
[B]alternative pairs total: +315.3[/B]
[B]
Total overall: +628.5 pips of Septemeber[/B]
Hello Jonny,
iām tracking WSFRās performance through
WallStreet Forex Robot REAL System | Myfxbook
Here the performance for september is negative. Do you use different settings than default ?
Iām just wondering 
When WSFR starts through again, i will switch my version back on ā¦
[B]VERY nice results Johnny: [I]Congratulations[/I] (< 8)[/B]
.
Iām forward testing but not getting anything like the sorts of results that you are.
Which Broker are you using?
Care to share your settings with us?
.
,
Iām [B]confused about the two ā[U]SecureProfit[/U]ā settings:[/B]
[B][U]SecureProfit[/U]:[/B] minimum profit to be guaranteed where the positionās current profit is
equal to the value of the SecureProfitTrigger parameter.
[B][U]SecureProfitTrigger[/U]:[/B] the positionās current profit (in pips) which would guarantee
minimum profits equal to value of the SecureProfit parameter.
I would appreciate any information that anyone can give me that will help me clarify and understand the (distinction) of these two.
Iām new to this Forum, Iām looking for the link to make my own separate posting on the [B]SecureProfit[/B] settings, but canāt find out where to do it?
Thanks for any and all assistance.
[B]Regards,
[I]DougRH[/I][/B]
eur/usd settings from eur/usd
gbp/usd uses settings from eur/usd
usd/chf uses settings from eur/usd
usd/jpy uses settings from eur/usd
for the alternative pairsā¦
usd/cad settings from usd/cad
eur/aud settings from usd/chf
aud/usd settings from eur/usd
eur/jpy settings from eur/usd
aud/jpy uses settings from gbp/usd
aud/cad uses settings from eur/usd
eur/cad uses usd/cad settings
Hi johnny.
Sorry, I realized this after I posted the question.
So the ones that the others are using as reference, are they the default settings with:
āCloseOnlyOnProfit = Falseā ?
āNoHedge = Falseā ?
āNFA = Falseā?
I know that ā[B][U]SecureProfitTrigger[/U][/B]ā is in Pips, but I still canāt figure out how the ā[B][U]SecureProfit[/U][/B]ā ties into it and what it does?
Regards,
DougRH
I really donāt know for sure. Yo could always ask support to better explain how it works.
[B][I]Hi Johnny,[/I][/B]
In your trading results for the last month, the pairs that you are using the settings from other pairs, are you using the default settings for those pairs ?
[B]Regards,
[I]DougRH[/I][/B]
I guess this bot didnāt win the pot eh? Donāt really see people having much success with it anymore.
actually she is holding her own. She is up 53.7% Since September 1 so yea still going strong for me.
@dougrh I donāt know how I missed your post. Sorry bout that. To answer your question yes those are default settings (presets)
Out of the box settings are not very good. I found a post with better settings on different forum: Wall Street Forex Robot (last post on bottom)
Maybe you can try it out. It has worked for me.
Hi guys,
What settings are you using on the MDP EA? I like the EA, but Iām having trouble finding good setup.