TulipFx' Kangaroo EA

This is a discussion on TulipFx' Kangaroo EA within the Forex Net Trap forums, part of the Specialists' Corner category; Originally Posted by surferking SLM Spreadbetting. I have the risk setting to 10% on my £2k SLM account which is ...

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Old Apr 17, 2011, 6:21pm   #17
Joined Jun 2010
Re: TulipFx' Kangaroo EA

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Originally Posted by surferking View Post
SLM Spreadbetting. I have the risk setting to 10% on my £2k SLM account which is about 2% of my overall available pot because of the large stops used. (The actual effective stops are much smaller but it's just the way it trades its stops in a stealthy way).

I recommend the default 5% overall risk would be fine but if you don't keep all your money in one account then don't go higher than 10% as it will stop the EA being able to place all the trades it needs to manage positions so wouldn't have the expected effect.

It kind of trades like the Turtle Trader strategy of adding positions on retracement to a strong trend, fascinating to watch and definitely something you couldn't do manually without 24/7 screentime so the EA is the only way to trade it.
Just to clarify the risk settings on this ea, the default setting of 5.0 does not mean that this would reduce your account by 5% if the stop is hit. It would actually be 20%, as "each risk level equals approximately 4% maximum drawdown on your account". I'm sure you realise this but might be confusing to someone who thinks their published results are based on only 5% risk.
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Old Apr 17, 2011, 6:25pm   #18
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Re: TulipFx' Kangaroo EA

Hi - just wanted to say a quick thanks for this ... and all of your other efforts in setting up NNT forum etc - your efforts in helping us all become a bit better traders, along with others on this forum, is much appreciated...
I'm just trying to get a VPN set up to autotrade INT...so will hopefully get round to looking at this once that is up and running but before the discount window..) but looks interesting
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Old Apr 17, 2011, 6:50pm   #19
Joined Dec 2009
Re: TulipFx' Kangaroo EA

theres a 'mature', since december that is,thread here .....

http://www.donnaforex.com/forum/index.php?topic=2840.0
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Old Apr 17, 2011, 7:20pm   #20
 
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Re: TulipFx' Kangaroo EA

surferking started this thread
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Originally Posted by Wagtail View Post
Just to clarify the risk settings on this ea, the default setting of 5.0 does not mean that this would reduce your account by 5% if the stop is hit. It would actually be 20%, as "each risk level equals approximately 4% maximum drawdown on your account". I'm sure you realise this but might be confusing to someone who thinks their published results are based on only 5% risk.
Valid point and actually, there's a setting for the maximum number of orders per trade which is 6 by default so actually if all the order stops were hit it would be -30%.

However, those are the order stops, the real stops the EA uses are dynamic and not set in the order, it just opens and closes up to 6 orders in an overall trade and I guess that if the trade went 5% against from all 6 orders it would have already closed them all out as an invalid trade based on the entry criteria. In actual fact it seems to be able to adjust a trade and reverse if the signal switches from bull to bear and visa-versa.

But yes, be cautious, this is one you don't want to go down during a trade since the trade management and exits are done by the EA and not in the initial order. However, the stops are wide enough that they should in theory take a long time to hit if you had a power outage or something by which time you should have been able to manually intervene. Probably best to speak to them direct on these matters if they concern you as I'm just a casual observer and not privy to the inner workings on this one.
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Old Apr 17, 2011, 9:19pm   #21
 
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Re: TulipFx' Kangaroo EA

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Originally Posted by surferking View Post
It trades from 6am Monday to 11pm Thursday night around the clock. See their results history here:

http://www.myfxbook.com/members/Tuli...ooea-cfx/56195

You can't trade it manually. You set it up and forget about it. For me personally it just helps grow the pot quicker to increase amount available to compound and there's no correlation to Net Trap so should help smooth out your overall equity curve.
Good, so the results you have given... are they compounded? If not.... that means in a year one of them has just made £800 with a 1000 start...
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Old Apr 17, 2011, 9:37pm   #22
 
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Re: TulipFx' Kangaroo EA

surferking started this thread
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Good, so the results you have given... are they compounded? If not.... that means in a year one of them has just made £800 with a 1000 start...
Yes, compounded.

IMHO opinion compounding is the only way to trade any EA that has an edge.

The only thing I don't compound is Sunday Gaps because I just put the winnings back in the bank each week and use to justify paying for a few treats.
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Old Apr 19, 2011, 12:34pm   #23
 
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Re: TulipFx' Kangaroo EA

surferking started this thread Just got this email newsletter from them which you might find interesting. Again, only provided for information, I'm not recommending anything nor do I have any incentive to. Make up your own minds.

Quote:
Dear Marcus,

Here's an update on KangarooEA and some tips we gave some of our customers who mailed us with their questions. We encourage everyone to read this newsletter carefully as it contains information that might be very helpful for you when trading EAs in general and KangarooEA in particular.

A few tips and things to keep in mind:

We noticed a lot of people are still rather confused with the risk settings. We will issue an update in the next couple of weeks where risk will match your possible % drawdown. Until then, here's a quick rule: Multiply your risk settings by 4%, this will give you your maximum possible loss should a full StopLoss occur. So with risk set at 5 (our default), the possible DD is 20%.

Some of you mailed us and asked if they could revert to version 5.0 as it "would trade better". This is not true. There are no changes to the logic made, and version 6.0 is a great improvement over 5.0. We are currently faced with jittery market conditions: S&P sent shudders through the market as it put a negative outlook on the AAA-rating of the United States. The Euro lagged badly on the threat of default in Greece and possible debt restructuring needs. While this is no excuse, we want you to be aware of volatile moves in this market and how this can impact your trading strategies.

For example: on the last Kangaroo EURUSD trade, unannounced S&P news a caused an upward spike (around 80 pips!), while Greece doomed over the EUR to only continue its path south short thereafter. While Kangaroo initially had the perfect trade conditions (short), the spike went higher for another two bars (35 pips) which made Kangaroo reverse the trade. Usually this is a perfect play. Anyway, the trade series resulted in opening 3 long trades which hit TP about an hour ago and all trades are now closed in profit on all platforms.

We can't stress enough that news (and unannounced news) can move markets quickly in opposite directions, which is the exact reason we spend a full year on developing a good newsfilter..! However, unannounced news can not be avoided (if you have a crystal ball, please contact us).

Alot of mails come in on a regular basis asking us why some of you did get a trade (or not). As you know, we're showing complete transparency to all of you and have posted 15 accounts with different brokers on myfxbook: www.myfxbook.com/members/tulipfx. We might add more brokers later.

Also, please read our latest blogpost, which explains the exact reasons why some brokers are more profitable than others when trading EAs. This post also offers some guidelines on how to select a broker that gives you the best odds of not messing with your trades.
Last, but not least: when trading EAs it's best to let them do what they're designed to do: trade automatically for you so you don't have to watch the screen 15 hours per day. Moreover, when floating drawdowns occur, emotions and fear come into play and might cause you to close your trades prematurely in a loss.

If you can't stand the drawdown, reduce your risk! Always trade with a risk level that you feel comfortable with and learn to accept a potential loss. Remember: losses will occur and some point, so learn to embrace them. This is a marathon. Not a sprint.

Thanks again to all of you for supporting our work. We try hard. And we will try even harder to make things better for you all.

Wishing you all a great Easter holiday weekend.
Until next time, green pips everyone!

Ozzie, Dutch & The TulipFX Team
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Old Apr 19, 2011, 12:55pm   #24
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Re: TulipFx' Kangaroo EA

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Just got this email newsletter from them which you might find interesting. Again, only provided for information, I'm not recommending anything nor do I have any incentive to. Make up your own minds.
I don't know if this EA will make money or not, because I have'nt it.
But what these people say is good sense and seems really professional to me.
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