New EA - "Predator" - page 7
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i am now a bit confused about the stoploss in this EA. is the dynamic stoploss included such as it is in the 10point3? and what exactly does "initial stop" mean. it would be great if someone could explain it to me.
thanks for every help
I just don't get it
I've been forward testing predator on a live mini account with $1300. I've used essentially the same settings others are using and haven't manually closed any trades or anything like that, but in one week, I'm totally wiped out. I was trading Eur/Usd Gbp/Usd and Gbp/Jpy. Other people are using these same currency pairs and I'm using about the same settings, maybe I've made it a little bit more conservative, but every trade I opened when testing this went in the wrong direction at the exact moment the trend changed and flew like a rocket to my S/L which was 80. I can't figure it out. I understand loosing money is apart of the game. What I can't figure out is how I'm using about the same settings others are reporting profits off. At no time have I been out of the red. I just don't get what I'm doing wrong.
drew
What you are doing wrong?
Trading Predator with 1300USD is just not sufficent equity in the account, even for 0.01 starting lotsize on a mini account.
The secret to all Martingale EA`s is simple:
underleverage-underleverage-underleverage
most of the times your account will be way underleveraged.
But in strong trending markets like the last week, this is the key to exclude an account wipe out.
Janus
I've been forward testing predator on a live mini account with $1300. I've used essentially the same settings others are using and haven't manually closed any trades or anything like that, but in one week, I'm totally wiped out. I was trading Eur/Usd Gbp/Usd and Gbp/Jpy. Other people are using these same currency pairs and I'm using about the same settings, maybe I've made it a little bit more conservative, but every trade I opened when testing this went in the wrong direction at the exact moment the trend changed and flew like a rocket to my S/L which was 80. I can't figure it out. I understand loosing money is apart of the game. What I can't figure out is how I'm using about the same settings others are reporting profits off. At no time have I been out of the red. I just don't get what I'm doing wrong. drew
What Janus said is exactly right. That was hopefully a demo account you were wiped out on. Seriously, anyone even contemplating using this EA should have an absolute minimum of $10K to start and only be using micro lots; might be also wise to run very tight takeprofit/pip intervals and limit maxtrades to something like 4 or 5. Give Goblin a try. It has what I believe is the first automated attempt to keep any of the 10Point3 based clones trading in the right long-range direction which is where this thing normally gets clobbered.
i am now a bit confused about the stoploss in this EA. is the dynamic stoploss included such as it is in the 10point3? and what exactly does "initial stop" mean. it would be great if someone could explain it to me. thanks for every help
Take a look at pg.'s 18-19 of the 10Point3 thread in the regular forum EA section for some good discussions on the dynamic stop mechanism.
guts to go live
And to add to that, I think there are the majority (75%) that will not go live out of fear even set aside the fact that they actually may have 10k to trade micros, it still takes guts to go live and may end up waiting weeks to see how the EA trades in demo. JMO, Kevin
Take a look at pg.'s 18-19 of the 10Point3 thread in the regular forum EA section for some good discussions on the dynamic stop mechanism.
ah yes i've found it.
thanks for help
Hi Bluto, I think part of my concern is valid but I didn't elucidate that additional point in my post. Where I was wrong in the below post is thinking that alot of users of the EA could affect it's performance and that seems to be incorrect. However the problem that I now see is that as the EA(Goblin)gets downloaded to several thousand traders(let's say over a period of many months)then will the MT4 broker who is the most popular and legitimate for MICRO accounts(Interbankfx) dissallow traders from using Goblin because there will be too many of us and perhaps they are not making the money that they need to make?? Essentially the point being that a great EA is irrelevant if it can't be traded at a broker. Are there any other legitimate mt4 brokers that offer micro accounts? I would be very interested in a devil's advocate opinion on this. Cheers
With the size & liquidity of the overall market, I really don't think retail traders are going to affect things too much with an EA like this. Everyone tinkers with settings, uses different pairs, etc. and that can drastically affect trade timing, etc. If the truth be known, I think the majority of the traders lifting EA's of of these forums are guys (& gals) with small accounts looking to make a few extra bucks. The pros that do the really big programmed trading probably have an IT staff and their own proprietary systems running direct into the market via ECN's. Just my opinion.
Hi Bluto, I think part of my concern is valid but I didn't elucidate that additional point in my post. Where I was wrong in the below post is thinking that alot of users of the EA could affect it's performance and that seems to be incorrect. However the problem that I now see is that as the EA(Goblin)gets downloaded to several thousand traders(let's say over a period of many months)then will the MT4 broker who is the most popular and legitimate for MICRO accounts(Interbankfx) dissallow traders from using Goblin because there will be too many of us and perhaps they are not making the money that they need to make?? Essentially the point being that a great EA is irrelevant if it can't be traded at a broker. Are there any other legitimate mt4 brokers that offer micro accounts? I would be very interested in a devil's advocate opinion on this. Cheers
I don't know how a broker could possibly know what EA a subscribing trader is using unless there's some unknown backdoor in MT4 where they can spy on your setup (god forbid). They can tell when you're using something like a scalper EA due to the orderflow signature because they're on the lookout for those and will suspend your account in most cases but they wouldn't specifically know you're using Cyberia ver. x. I just think that there's too much liquidity in the market to be affected by any one EA, even if say 4,000 people eventually download Goblin and used it....remember too that EA traders are fiddlers and tweakers and everyone is going to have their own favorite settings which alters the overall EA trade pattern. I'd also expect that some of the MT4 programmers will make their own mods to Goblin to even further alter it's behavior. Therefore...I don't think there's anything to be concerned about.
Thanks
Thanks Bluto for that grounded, clear minded explanation. And if I haven't said it before thank you for your hard work with both Goblin and Predator.