Terminator v2.0 - page 13
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Terminated
Well Mr. Trader you were right. My testing had been going well until
today. I left for an hour and when I returned my $25k demo account
was shall we say terminated.
Well Mr. Trader you were right. My testing had been going well until
today. I left for an hour and when I returned my $25k demo account
was shall we say terminated.Hi jhanley,
good to hear that... Please post the statement so we can analyse the problem, my 5k 10k 25k accounts are still alive... What was the problem ?? FOMC Reort or somethinng other ??
Will be very helpful to see other statements as they from tmaneval !
Thanks for your help !
mr.trader
My demo account started a buttload of trades this morning. Made about $200 today and 200 last night. This is on FXDD Teminator 2.0 with default settings.
EUR/USD
GPD/USE
USD/JPY
USD/CAD
GBP/JPY
And I am letting it trade in both directions.
Also, the account I have with Ordersbasedon 0 is doing horribly.
Well Mr. Trader you were right. My testing had been going well until
today. I left for an hour and when I returned my $25k demo account
was shall we say terminated.Yes, but did it say......."I'll Be Back!"
Yes, but did it say......."I'll Be Back!"
You can count on it Bluto
Mr. Trader and all.
Here is my statement for this past week. It didn't actually
wipe out the account entirely just 18k of it.
Here is my statement for this past week. It didn't actually
wipe out the account entirely just 18k of it.This is a clear example of overleverage and wrong money management.
If you take a calculator you will see that with a 400 leverage to place those
orders in the USDCHF you need:
$12.8K ------> 51.2 lots
$ 6.4K ------> 25.6 lots
$ 3.2K ------> 12.8 lots
$ 1.6K ------> 6.4 lots
$ 800 ------> 3.2 lots
$ 400 ------> 1.6 lots
$ 200 ------> 0.8 lots
$ 100 ------> 0.4 lots
$ 50 ------> 0.2 lots
$ 25 ------> 0.1 lots
___________
Total $ 25575
And I don't take in count the losses of each positions and / or any other orders open in other pairs.
When this system run out of margin the losses can be extreme.
Well Project maybe you might want to enlighten us with your
money managment prowess!
Terminator money management
Great explanation Project1972 !
Regarding your settings for a standatrd account how much money do you recommend per 1 pair ?
Now let me talk about money management and practical issues with this system.
To run this system with the Tom settings on a real account with a starting lot size of 0.1 you will need 100K with an account of 400 leverage, but you will find that not any broker will give an account of 400 leverage to deposit 100k of real money, that raise the minimal money required to a 400K with an standard account of 100 leverage, but as son as you will deposit 400k of real money you will find that with that amount brokers will give only 50 leverage and that raise the minimal amount again to 800K but the main trouble now is the next, with that amount of money the minimal lot size is 1 lot and that raise the amount of money required to 8 millions. but as soon as you get 8 millions you will find that the big orders never get filled in full, because the max order is now 512 lots, at this point you will trade like a central bank and you will make your own support and resistance levels.
That convert the system in totally useless with that settings.
Now, some brokers allow trade 0.01 lot size with a standard account of 100 leverage, to trade with this lot size you will need 40K of real money
If you use a micro account with 200 leverage and trade it with 0.01 lots, the minimal amount of money is 2K
If you use a micro account with 400 leverage and trade it with 0.01 lots, the minimal amount of money is 1K
Ok, now, why not reduced the max orders to a less value ?
To do it you will need a more exact method of open orders. Why not use the trend ? and let the EA open orders in the direction of the long trend and only in the most predicable pairs.
Think about it !!!!!!!!!!
Open a one hourly chat in all pairs, check the direction of the long trend.
What direction is ? Do you saw something ? Is not the same in almost all pairs ?
Yes you saw it!!!!!!! All currencies develop a long trend in the direction of positive interest, interrupted from time to time with a correction, due a bad news over the high yield currency like a excessive negative trade balance, unemployment or any negative news who raise the fear of those people with carry trades. You can't imagine the amount of carry trades in currencies, people love currencies with high interest, it is like dividends in the stock market, what happen when a company raises the dividends ? Their stock raise like hell.
Corrections are short in time, but they can be strong, after it, the long trend resume again.
Why put an Martingale EA to trade against the long trend ?, It is not more safe run it with the Trend ?
You can run it against the short trend but it extremely unsafe run it against the long trend.
Please answer this question: How many big traders do you think will keep a long time short in the GBPJPY ? or USDCHF ? AUDJPY ? or GBPCHF ? Did you notice the cost of the swap ?
Didn't you notice that when a high differential interest pair is in a correction it make a pullback before 5 PM (est), Why ?
Don't you think that those pullback are generate with the short sellers covering their positions before be charged swap ?
Didn't you notice that those pullback are the used by our system to close stuck orders ? YES ! Our system sell our positions to those short sellers to cover.
Wonderful we learned why to trade with the trend, sooner you will discover that the system now with plenty of margin and running that way is a lot more safe and need less max orders, and if it get stuck the long trend eventually will catch it and close the orders, and in the mean time we get paidwith the swap interest !!!!
How we didn't figure it before ? maybe because we are human.