bearsnbull
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ok.... Sandy
Hi Sandy,
Very interesting posts thoughtout - cheers.
I have bought FAP Turbo although I can't seem to get it working. It has been registered ok but it does not seem to be making an trades - I am using a demo account with odl via Metatrader 4. It does say under "journal" of metatrader "investor mode [trades are not allowed]". Pesumably it should trade on my demo account to at least me see the system working before I start using any real money?
Any ideas?
Thanks
You should find an EA like FAPTurbo will trade on any demo account that has a small spread, including ODL. However, if you think these brokers are going to sit there and let tens of thousands of owners of this particular type of scalper empty their brokerage on a live account without taking action you are deluding yourself. They, or their plugin, will have you out of there before you can say 'This time next year we'll all be billionaires.........'
tripleogstar
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bunch of plonkers ( i.e sandyw and phil), the brokers will love it, the more you trade the more commission they make. They do not give a rats ass how much profit you make. How can you guys be traders? blimey
What are you talking about ?? A broker by it's very nature is a broker. They couldn't care less if they paid you out a million, because it isn't their million they're paying you. Simple concepts you obviously don't understand. Hence you lay out ££££ to concept fx. Too funny for words....Good luck trading or system following or whatever the hell it is that you guys do on this thread
I am new at this forex EA stuff myself as you will realise. I cannot imagine what would cause the problem you have. All I can say is, I have never tried it on a demo account as I went straight in live, and have never looked back. The only duff trade, ie significant loss, I had was on a pair which was trading outside the recommended spread, me having ignored advice! Otherwise the equity curve is SMOOTH and STEEP!
There are people on this thread who are knockers. Some say FapTurbo is so good that the brokers will eventually not allow traders to use it. Others say it is such rubbish that the brokers will love it! I did ask earlier for a genuinely expert opinion on this matter, but so far have had no reasoned reply, only the usual "sarky clever dick stuff". If this EA is good and profitable, I would like to know exactly what the brokers would have against it. If it is simply that, like bookies, they "trade/bet against" their clients (which they do, that is normal) I can understand. But I asked one well known forex brokerage what their view was and was advised that as far as they are concerned profitable traders, with or without EAS are welcome, adding providing they were "fair and ethical". So if an EA makes money for the trader, what the heck makes it unfair or unethical? It is only an EA, and it is only working with the prices the broker quotes!!!
My experience, admittedly hitherto only in spreadbetting, is that brokers skew prices and muck about with spreads, but that seems to be "ethical and fair". Seems to me that brokers simply have the whip hand, and use any trick they can to make their money, including specious notions of what is ethical. But I would still like to know exactly why they don't like some EAs, but accept others. To some this may seem a naive question, but to some of us it is simply a question, to which we would like an answer. Wouldn't it be brilliant to have a full and well explained answer, including the maths?
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bearsnbull
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I didn't realise that Sandy was talking about a "normal" brokers, as opposed to a spread- betting company. Something he clarified in an e-mail to me.
What fascinates me about the very nature of internet forums is the way in which people express themselves in ways and contexts they wouldn't, presumably, dream of in the real world.
Phil
pseudo straddle
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fractals again
Anyone using fractals and alligators may find this post of interest.
click here for comment about fractals
:idea:
Anyone using fractals and alligators may find this post of interest.
click here for comment about fractals
:idea:
I have just read that post. Thank you for the link. I am not sure what the guy is trying to say, whether he is slagging it off or not.
It doesn't matter to me really. I increased the size of my account by 62% in one month (of which I was on holiday a week) using fractals. Contrary to what you might think that does include some losses. I don't use the whole Bill Williams system though I modified it to combine other strategies that work well together.
I use the daily fractal break above the alligator, then manage the trade on a 4h chart. I have targets based on minor/major resistance/support levels. If it is a minor resistance level I simply move the stop closer, and if it breaks through I add to the trade and give it more room to breath. I also add to the trade everytime a new fractal forms on the 4h.
When the price moves close to a major resistance/support level I hedge the trade, assuming it will bounce. This locks in profit, but keeps me in the trade just in case it breaks through the major resistance then I can reap those profits too.
It's a simple system, but the difference would be what you define as a major or minor resistance level.
Is there a good resource explaining how to hedge a trade , I am interested in the concept but unsure how to inplement.
Regards
Andy
There are some rediculously complex hedging techniques, but mine is the simplest form. When the price reaches my resistance/support level I open a pending order under the nearest low of the closest chart in the opposite direction.
E.g.
I am trading 4h, then I place my hedge pending order on the 4h chart if I see it as appropriate. If I cannot make out the strategic position I look at the 1h chart. If this does not provide an adequate strategic position to place the hedge I simply look on the 30min and so on...
When I have figured out where I want my hedge to kick in I simply look at what my stake is. Then I place my pending order with the appropriate stake in the oposite direction of the original trade. My stop loss for the hedge is placed a bit above the second resistance/support line.
(I always draw two and the middle of the two lines I call my "Undecided" because the price can either break through the resistance at that point or bounce back into the channel)
Therefore if the price breaks through my second resistance line I get stopped out of the hedge and my trade carries on with another entry. It may be that your pending order does not get realised though and the price just breaks through.
I hope this is clear. It might sound complex but it really isn't once you get to grips with it.
A New Year Starts!
I refer you to my earlier posts. Here is the latest on my live account.
1 Dec 08 Starting Capital £100
5 Dec 08 Account stands at £207
12 Dec 08 Account stands at £1,085
19 Dec 08 Account stands at £1,548
24 Dec 08 Account stands at £1954
2 Jan 09 Account stands at £2,305
I withdrew my £100 starting capital on 19 Dec, so I am trading "risk free" as it were.
The numbers indicate “steady progress”, but do not reveal my uncertainty and quandaries about some of the robots. I am deliberately not showing comparative numbers for the robots, as my endeavour is not really a controlled experiment. But overall the only robot to show an overall loss has been Shark. It looks like the dunce. Steinitz should also be standing in the corner, because only my personal intervention (this time fear was definitely the right emotion) stopped it wiping me out totally in that third week.
FAPTurbo Scalper has given some profits this week, but has struggled in the holiday season. So far it has been hard to really fault FAPT. But the strategy is a total black box!
Shark has not delivered any trades since 19 Dec. I was thinking of changing the SL and TP settings but on second thoughts, I have realised it would be naïve to just increase the TP and reduce the SL!! The limitation with Shark is that it is optimised to only trade the EURUSD and on one timeframe. There is no way to diversify. It may be best to just ditch Shark……..
I throttled back on trade sizes for Steinitz and put in a stop loss (by default it trades without a stop!). I also added three more pairs for it to trade, but results were not satisfactory as the stop kept being hit. And anyway who am I to tinker with a strategy I don’t really understand (too lazy, me) and with which I am not really comfortable. I may ditch Steinitz……..
I switched off Roboteer for the hols as advised. I am thinking I should perhaps reduce lot sizes when I restart on 7 Jan as advised………
The best news is that I have been trading my own EA and this is starting to look as if it will outstrip all the others put together!! I am very confident about the strategy, which is safe and self adjusting, as well as profitable, with a very high win/loss ratio. In the past I used to try spreadbetting the strategy, but my psychology was rubbish, as anyone aware of my history will know. I am more persuaded than ever that for me robots are the way to go, but it’s still early days.
I am hopeful, confident even, about the coming year but as they say “you never know”! Concept showed that.
I refer you to my earlier posts. Here is the latest on my live account.
1 Dec 08 Starting Capital £100
5 Dec 08 Account stands at £207
12 Dec 08 Account stands at £1,085
19 Dec 08 Account stands at £1,548
24 Dec 08 Account stands at £1954
2 Jan 09 Account stands at £2,305
I withdrew my £100 starting capital on 19 Dec, so I am trading "risk free" as it were.
The numbers indicate “steady progress”, but do not reveal my uncertainty and quandaries about some of the robots. I am deliberately not showing comparative numbers for the robots, as my endeavour is not really a controlled experiment. But overall the only robot to show an overall loss has been Shark. It looks like the dunce. Steinitz should also be standing in the corner, because only my personal intervention (this time fear was definitely the right emotion) stopped it wiping me out totally in that third week.
FAPTurbo Scalper has given some profits this week, but has struggled in the holiday season. So far it has been hard to really fault FAPT. But the strategy is a total black box!
Shark has not delivered any trades since 19 Dec. I was thinking of changing the SL and TP settings but on second thoughts, I have realised it would be naïve to just increase the TP and reduce the SL!! The limitation with Shark is that it is optimised to only trade the EURUSD and on one timeframe. There is no way to diversify. It may be best to just ditch Shark……..
I throttled back on trade sizes for Steinitz and put in a stop loss (by default it trades without a stop!). I also added three more pairs for it to trade, but results were not satisfactory as the stop kept being hit. And anyway who am I to tinker with a strategy I don’t really understand (too lazy, me) and with which I am not really comfortable. I may ditch Steinitz……..
I switched off Roboteer for the hols as advised. I am thinking I should perhaps reduce lot sizes when I restart on 7 Jan as advised………
The best news is that I have been trading my own EA and this is starting to look as if it will outstrip all the others put together!! I am very confident about the strategy, which is safe and self adjusting, as well as profitable, with a very high win/loss ratio. In the past I used to try spreadbetting the strategy, but my psychology was rubbish, as anyone aware of my history will know. I am more persuaded than ever that for me robots are the way to go, but it’s still early days.
I am hopeful, confident even, about the coming year but as they say “you never know”! Concept showed that.
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robots
Nice one Sandy, as usual. So to recap you have:
Recovered your starting bank,
recovered you costs for the robot's
and showing a profit!!!!!!
so what ever happens with the robots going forward is a win win situation. SUPERB.
well done.
Nice one Sandy, as usual. So to recap you have:
Recovered your starting bank,
recovered you costs for the robot's
and showing a profit!!!!!!
so what ever happens with the robots going forward is a win win situation. SUPERB.
well done.
bearsnbull
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Amazing ! Trading ur own EA? ...so u have something up ur sleeves ... pls tell us about it...
rwhittington
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Hi Sandy
I was originally drawn to this thread when considering purchasing Concept FX and have appreciated the honesty exhibited by some contributors, especially you and andy.
For myself, I visited Concept in Luton and purchased the package toward the end of August. Now some 3 wins and 12 losses later, and coupled with the low number of recommendations being offered, I have felt it could be time to move on. My initial bank is down nearly one third!
I looked at FAPTurbo and decided to purchase as it seems to have produced good results. I was considering opening an account with their recommended broker, but noticed that one or two people on this forum are using ODL. Would you be kind enough to say if there are advantages using them?
I am also very interested in the EA you have created and wish you every success with it.
rwhittington
I was originally drawn to this thread when considering purchasing Concept FX and have appreciated the honesty exhibited by some contributors, especially you and andy.
For myself, I visited Concept in Luton and purchased the package toward the end of August. Now some 3 wins and 12 losses later, and coupled with the low number of recommendations being offered, I have felt it could be time to move on. My initial bank is down nearly one third!
I looked at FAPTurbo and decided to purchase as it seems to have produced good results. I was considering opening an account with their recommended broker, but noticed that one or two people on this forum are using ODL. Would you be kind enough to say if there are advantages using them?
I am also very interested in the EA you have created and wish you every success with it.
rwhittington
avtarsaini
Junior member
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Hi all and belated seasonal greetings.
I've been away from the board for a good 4 months now having lost half my bank with 2 months of trading with concept. Infact it was enough to stop me trading all together (I know, the small print says only trade with what you can afford to lose...). Getting twitchy again and thinking of restarting.
1. Has any one heard of LS Trader? I had an email from them last week. Monthly premium service. Any one experienced it?
2. Has anyone attended the "traders University" course. If so has any made any money using what ever "system" they teach? I attended a free 2hr presentation in Birmingham last year where several people signed up to a 3 day course costing approx. £1500. I diddnt sign up and after my experience with concept I'm even more cautious before parting with cash. I know the serious traders will giggle, but those who are dabblers, like me might be considering either of the two.
Any experience anyone? Thanks.
Avtar
I've been away from the board for a good 4 months now having lost half my bank with 2 months of trading with concept. Infact it was enough to stop me trading all together (I know, the small print says only trade with what you can afford to lose...). Getting twitchy again and thinking of restarting.
1. Has any one heard of LS Trader? I had an email from them last week. Monthly premium service. Any one experienced it?
2. Has anyone attended the "traders University" course. If so has any made any money using what ever "system" they teach? I attended a free 2hr presentation in Birmingham last year where several people signed up to a 3 day course costing approx. £1500. I diddnt sign up and after my experience with concept I'm even more cautious before parting with cash. I know the serious traders will giggle, but those who are dabblers, like me might be considering either of the two.
Any experience anyone? Thanks.
Avtar
