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Had to close everything down and restart. I heard from last time that trust is a dangerous thing. . .at least in trading.
Hi all
Well, yesterday I decided to go live on the AUDNZD 50/20 after demo testing for 3 days and getting incredibly good results (GBP350 using .03 x1.33) on Alpari regular account.
It ends up that Alpari's spread on live is 20 whereas only 12 on demo - next thing I find is the suits happen easily on demo and frequently get missed on reside.... In the end there were 3 missing trades and so a floating loss that looked like it'd never fully get recovered, so I closed at a retracement for a small loss -GBP14 was looking at -75 at a single point.
From yest pm to this particular morning I conducted demo 30/10 also it never had DD over 20 and created 185 therefore I decided to try out that on live now....
I was roughly at BE after 3 hours using banked 20 and DD -20 when my PC froze and refused to start again properly - just kept going round in a cycle of endless reboots - therefore I logged in to my live account from another PC and needed to handle the trades from there - at fast time a buy was TP therefore I decided to shut all and call it a day.... Sad to say , the 1st level buy was shut at far lower figure due to the erratic prices of AudNzd (all of my live TP trades had the lower rates close at much less favourable prices... sometimes in order that 3 levels deep for example would only web GBP0.50!) But the biggest suprise was that the sells were shut much greater than the buys at prices which don't seem to have occured!!! see SS.
I am planning to compose Alpari for an explanation!
Seems like IBFX Might Be the way to go.... Anybody have good experience with these ea's with almost any other brokers?
When will people learn.
Brokers are there to Earn Money from YOU. They are fully conscious of Grid Martingale EA's and will employ techniques to requote your trades or close you out higher than you request.
They employ te of individuals to completely test EA's on here and elsewhere and highlight any that pose a significant risk to there profits over the money they make on the spreads.
Sooner or after these type of EA's will blow off your account up, not so much due to their logic but because logic the brokers are using to conteract your own trades.
Also, dont forget that if you have a power failure or your ISP goes down then you stand to eliminate a lot of monies because of Grid/Martingale type EA's.
On that note, happy trading.
A Fantastic deal? Not really... all my'grid martingale' kind ea trades have a stoploss that losses me a maximum 5 percent... If worst comes to worst I am considering maybe a maximum loss of 200$, which will be fine with me since I am operating at about 10percent a week with a stoploss hit every other or longer.Originally Posted by ;
There is one problem with your argument, YOU DONT LEAVE YOUR MONEY IN YOUR ACCOUNT UNTIL YOU BLOW IT UP. You simply take your profits out every week. It's that man. I made 500 dollars this week and the very first thing I will do is complete the form and then send it into IBFX. So most months, I do and it functions well. You have not created one single penny in Foreign Exchange no matter what system you use before you withdraw your cash.
I have been doing so for 10 months today man, I make cash on a regular basis. If what you stated is true no one would be trading Foreign Exchange because everyone is ensured of losing cash. Firms, such as IBFX and many others can't remain in business unless their clients make money. That's a very simple fact. Coming up with this the broker will get you guarantees that you will eliminate money. Instead of blaming your bad decision on your own, you blame someone else so your guaranteed of making the same bad decisions all over again.
Anyhow, I have moved around 34th place at the IBFX contest this month. We will see where I'm at after now since I increased my account another 10 percent today. I am going to take the 500 dollars I'm withdrawing from my additional live account and placing it on my daughters tuition for college this week. Fantastic luck and I hope you get over the blaming the broker match.
To each and every poster who comes on this forum to say that any type of maritngale is suicide, then you have to read back in the conversation concerning the need to handle your account at a minimum of twice per day. You need to manually shut positions until they get too far away from you....
To verify that point, I decided to let a demonion ride it out to see what would happen when it had been trading at the rate of 1 cent per $1,000... the account traded 5 cent lots with a $5,000 opening balance... And yes... left unattended, even that blew itself up at the current volatility. I had been using the 1.5X 100, 40 EA trading 20 pairs....the balance at the conclusion of the week was 6.... not a pretty sight!
Discretion will always be necessary in this particular game. What would UBS or Morgan Stanley cover an EA that actually created steady gains all on it's own?
I would certainly switch to IBFX. They have a 14 pip spread on Aud/nzd.
100/40 upgrade
Preferences:Trading EUR/USD just, 100/40 .01 or .02, multiply 1.5, maximum. Transactions 15, no stop reduction, allowing EA run all week. Shutdown for weekend.
Beginning balance- $3000
Balance Following Week 1 - $3130 (.01 lots) Deepest trade level (9)
Week 2- $3239 (.01 ) (10)
Period 3- $3409 (.02) (10)
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