Frank EA and 10p3 EAs - page 6
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You are right. This EA will kill the deposit irrespective off how big this deposit is. When? No one knows. I call it 'day X': it may be tomorrow, or it may be next year.
By the way, please find updated statements
And don't use this EA with real money even if you are very rich man.
Newdigital - I know that you are just waiting, but other members can wonder why are you thinking that such ea will blow up account someday? ...
Not just one EA. I went to Metaquotes codebase website and downloaded this EA. Randomly. And just modified it to trade with 0.01 lot size. And opened this thread.
There are many such kind of EAs everywhere and on our publuc forum as well. And all of those EAs are very dangerous.
Please help. I am getting an error when I try to backtest this EA:
error 131 Invalid trade volume.
You are using mini account (with m at the end) so instead of 0.01 you should set 0.1 lot size. Usualy like in alpari we can set 0.1 or 0.01 or 1 lot, but some brokers split their accounts to mini (where base lot is 10 000 not 100 000) and normal. This is one of such accounts. Set 0.1 lot and it will work the same like 0.01 in alpari broker.
Error 131 is invalid trade volume.
May be you selected small deposit size ...
It should be at least 5,000.
Or EA is going to big lot size and it means that you get margin call.
'invalid trade volume' means 'big lot size for this deposit'.
error 131 Invalid trade volume. You are using mini account (with m at the end) so instead of 0.01 you should set 0.1 lot size. Usualy like in alpari we can set 0.1 or 0.01 or 1 lot, but some brokers split their accounts to mini (where base lot is 10 000 not 100 000) and normal. This is one of such accounts. Set 0.1 lot and it will work the same like 0.01 in alpari broker.
Yes, may be. I did not test with IBFX.
error 131 Invalid trade volume. You are using mini account (with m at the end) so instead of 0.01 you should set 0.1 lot size. Usualy like in alpari we can set 0.1 or 0.01 or 1 lot, but some brokers split their accounts to mini (where base lot is 10 000 not 100 000) and normal. This is one of such accounts. Set 0.1 lot and it will work the same like 0.01 in alpari broker.
This fixed the problem. Thank you.
Error 131 is invalid trade volume.
May be you selected small deposit size ...
It should be at least 5,000.
Or EA is going to big lot size and it means that you get margin call.
'invalid trade volume' means 'big lot size for this deposit'.I tried setting initial deposit size to 10,000 and still got the error. Changing the lot size from 0.01 to 0.1 fixed the error. I am using IBFX (mini acct).
Frank EA is suffering. Suffering but surviving.
Newdigital - I know that you are just waiting, but other members can wonder why are you thinking that such ea will blow up account someday? LOL
So I decided to put some larger comment on this with tests.
[...]
Even if you will not be withdrawing the funds for 9 years, there will be a situation that will blow your account (like on my last test) finaly there will be a huge trend that will clean your funds.
And rembember, dear reader, that Forex is not gambling, it is not a matter to be lucky, but to invest your funds in the way that will let you to be at the winning side.
Amen!Dear Kalenzo,
you are absolutely right with your opinion about martingale systems. But I think it is the best way to earn much money (until x-day!)
All EAs that I know dealing with martingale work the same way. You have a defined interval where the EA opens a new order (in some cases 15 pips or more). The open every time a new trade until the margin is exhausted. I don't think that this is right way because currencies behave diffrent every day.
I thought about some ways to improve such martingale systems. Here are some thoughts about it:
- The EA doesn't open a new order when reaching the new set interval. Maybe it's better to use pivot points R1, R2, R3 for sell orders and S1, S2, S3 for buy orders. By reaching a new resistance or support a counter-trend order with doubled lot size should open.
- On R4 the EA should open a buy order and on S4 a sell order to hedge the losses.
There are only two ideas how martingale becomes a little safer perhaps. I didnt test them. Maybe there is a martingale EA that works the way. I don't know. Maybe it's easy to code that EA ...
Greetings,
Chris