Terminator v2.0 - page 18
You are missing trading opportunities:
- Free trading apps
- Over 8,000 signals for copying
- Economic news for exploring financial markets
Registration
Log in
You agree to website policy and terms of use
If you do not have an account, please register
My First weeks results...
Nice job so far. A bit slow, but being very conservative. Demo account on IBFX.
H1, 4 pairs following trades with positive swap only.
EURUSD
USDCAD
USDJPY
AUDUSD
These were chosen for their low-to-mid correlation at the time.
Many thanks to you Tom....
Cheers,
CS
A little blurb
I have an email subscription from elliotwave.com. Today I read a blurb from Bob Prechter which I feel is relevant and adds perspective to what we're doing here:
"And the truth is, we're not perfect. As Bob says, "the biggest obstacle to successful investing is the failure merely even to recognize and accept the simple fact that losses are part of the game...the perfect trading system does not exist. Expecting, or even hoping for, perfection is a guarantee of failure." Our analysis may not always be right - but it's never "conventional," and is always independent."
This is not a plug for Elliott Wave Int'l.
What we aspire to here is that our gains significantly exceed our losses over time. We keep working at this to consistently achieve this goal. It will be an ongoing process.
May the pips be with you,
tom
Tom is right, not any trader is out of risk, but there are many ways to reduce risk, and overleverage is one fast way to get broke fast.
"Businessmen opening a shop or a store would not expect to make over 25% on their investment the first year. But to people who enter the speculative field 25% is nothing. They are looking for 100% or more.
Ant their calculations are FAULTY, they fail to make speculation a business and run it on business principles."
The Contrarian Trader:
"So let me see; you've lost 95% of the time; and since forex is a negative sum game; you assume then, if I do the OPPOSITE of what I was going to do, or what everybody else is doing; I will make money since 95% of them LOSE money!! That's the thinking of the contrarian. I'm here to tell you, the contrarian is a HORRIBLE way of thinking.When you are a contrarian, you are a MARTINGALE trader. I'm here to tell you, you will die a HORRIBLE death being a martingale trader. It might sound great; but there are a bazillion books out there on why being a martingale trader is a BAD idea."
Anyway I think martingale strategies can work as soon you don't overleverage it AND you withdrawal your profits frequently AND is not your primarian way of trade.
If your will make this strategy your only way of trade you are totally wrong.
Forget about compound your profits, with a martingale strategy that rule don't apply.
Remember this and make it the most important rule:
"The only money that is ever taken out of the market by speculators is the money they draw out of their brokerage accounts to a bank.
Money in a brokerage account is unhealthy money, rolling in rapidly, and stopping for but a short visit."
My live accounts are still in healthy status, although the drawdown was huge, it also was the profits, but anyway I will withdrawal my profits next Monday to a safe bank account.
Best Regards
Below is a guideline only for testing setup:
1. $100k works at 1:400 leverage as on the demo account I've been posting trading 0.1 lots.(mini lots) This would equal 2 below.
2. $200k at 1:200 leverage trading 0.1 lots. (mini lots) Equals 3 below.
3. $20k at 1:200 leverage trading 0.01 (micro lots)
4. $2k at 1:200 leverage trading 0.001 (nano lots)
Nano lots?
I know the size of them, but, i am not aware of any broker that offers them.
Can you please advise which broker(s) offers them?
Thx
hades291
Here is my statement till begin october... It´s an IBFX standard account with 10k funding, beginning lotsize is 0.01 and OpenOrdersBasedOn=0 (means MACD only) all other are default...
The secret of this EA is moneymanagement, 0.01 lot is very small, but if max trades are 10 than you stop at 2.56 lot and thats very much ! The market is trending strong last weeks, first down, than up (EUR) ... This was a hell trip for the EA, at this market conditions the EA show you if your settings are right or not...
Well, however, 12% in near a month (since 3rd oct) is not too much but with this settings he is very stable and also tradeable with 10k accounts....
Better use IBFX mini account with these settings, then you should be absolutly protected from massive drawdowns...
I also run a test with a modified version with other settings, the most important change is OpenOrdersBasedOn=3, but not the original 3 (i_trend with RSI), i changed it to only i_trend, so the trend definition is very near at the market and the EA will average open 3 Orders before close them.
I will post the statement, stettings pairs etc. end of today when Forein Exchange is closed.
Hope it helps,
mr.tradertmaneval Quote:
Originally Posted by ze0202
Terminator with project* settings almost terminated my account this week! I wonder what happened to those with tm*val default settings? Anyone with different results?
I don't know what all your settings were but I DO know $500 is insufficient capital for this EA.
The past couple of weeks have also been tough. That's good. We'll see how this EA and settings perform.
Below is a guideline only for testing setup:
1. $100k works at 1:400 leverage as on the demo account I've been posting trading 0.1 lots.(mini lots) This would equal 2 below.
2. $200k at 1:200 leverage trading 0.1 lots. (mini lots) Equals 3 below.
3. $20k at 1:200 leverage trading 0.01 (micro lots)
4. $2k at 1:200 leverage trading 0.001 (nano lots)
The above of course is not the only way to go about it and is not guaranteed. It is a starting guideline for initial testing. Any method employed should be tested and demoed thoroughly.
Please demo it with at least 1:200 leverage or use more capital.
Take your time with your own testing under an exact scenario that you might use to trade with - including the broker, settings, and currency pairs used. This way you will gain your own level of certainty and confidence and gain knowledge of the EA's behavior and margin usage. The basic concept here is 'Know BEFORE you go'. You can only KNOW with YOUR OWN testing and experience.
Real Estate has a keyword, 'Location, Location, Location'. If I were to assign a keyword to using this EA it would be 'Underleverage, Underleverage, Underleverage'. Underleverage applies to the amount of margin used to stay in the game. Deep pockets and high leverage - as stated in the readme file - is needed to stay in the game during trending markets. Even then, there are no guarantees, but NOT doing so increases the risk. This is part of the account setup or playing field you will be engaged in.
Please don't ask if such and such amount of money is sufficient to do such and such on a live account. I don't give that advice. That decision is entirely yours and hopefully you reach that after sufficient (months) forward testing on a demo account.
Hope this helps.
tom
I thank you both for your detailed answers.
Actually I'm still trying to understand which strategy is best for me. And for that purpouse I took the liberty to compare the four main different combination of settings and pairs, posted until now since the beginning of this thread...
Of course it will need constant update ... and more time to test and come to a conclusion
Maybe there are a lot more profitable strategies around with this EA that someone would like to add...
Nano lots?
I know the size of them, but, i am not aware of any broker that offers them.
Can you please advise which broker(s) offers them?
Thx
hades291Hi folks,
does somebody here know a broker whitch offers microlot with a 1:200 (or higher) leverage for accounts with 100k or higher ??
thanks for your help !
mr.trader
Nano lots?
I know the size of them, but, i am not aware of any broker that offers them.
Can you please advise which broker(s) offers them?
Thx
hades291interbankfx offers such lot sizes.
they have 2 types of account
EUR/USD - normal account
EUR/USDm - micro account with this m,
and with this account :
1.0 Lot is 1 one normal minilot and therefore 0.10 is microlot and 0.01 is "nanolot"(the needed margin for this is 0.50$
attached is my statement of 2 days forward test since wednesday evening
Ready for forward testing!!!
I have spent the last two weeks backtesting this wonderful EA with every possible combination of settings that I could think of. I think I have found the settings I want to use and am ready to start forward testing it. My backtest results turned $10,000 into $43,000 in 20 months with only a 2.27% drawdown.
I am going to be running this on an IBFX Mini account with a starting balance of $10,000 trading 0.10 lots per trade. I am planning on only trading EUR/USD with this EA for now. I will post weekly results to my webpage and post the links here.
I am also going to experiment with a money management scheme for this EA as the forward testing progresses. What I am going to try is for every $1000 earned I am going to up the lot size by 0.01 lots. In back testing this greatly increased the profits but also increased the drawdown slightly, but the highest it ever got was around 5%.
My money management scheme will look something like this;
If you would like to see my backtesting results or setting click the link below.
Backtesting Results
interbankfx offers such lot sizes.
they have 2 types of account
EUR/USD - normal account
EUR/USDm - micro account with this m,
and with this account :
1.0 Lot is 1 one normal minilot and therefore 0.10 is microlot and 0.01 is "nanolot"(the needed margin for this is 0.50$
attached is my statement of 2 days forward test since wednesday eveningHi Arthur,
Thx for your reply
hades291
Nice job so far. A bit slow, but being very conservative. Demo account on IBFX.
H1, 4 pairs following trades with positive swap only.
EURUSD
USDCAD
USDJPY
AUDUSD
These were chosen for their low-to-mid correlation at the time.
Many thanks to you Tom....
Cheers,
CSHi cubesteak,
Are your settings default? If not could you post them please?
Thanks