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[ham bone]

I don't think this strategy should be written off. Williama was very aggressive with the lot sizing, because I'm sure it has worked out for him previously. One could trade this system more conservatively. During these last few days, I traded this system manually and closed out 2 progressions which hit TP and a 3rd is in positive pips right now. Using .01 lots = $0.10 (FXDD demo) my account balance is +$64 (about 640 pips) and current equity +$16 with max DD $150. I'm going to keep testing.

Suggestion: to reduce pending orders, consider only adding double lots in the other direction starting 2 levels away. This should give the pair more room to breathe before adding more pending orders. A spreadsheet is vital to know where you stand at any given time.

Thanks Williama

Jack

[Johnfa]

Hi Naufrage,

Your EA works like this:

1st Buy lever hit: 2nd + 3rd Sell stop lever new pending order open.
(but some times there is no new pending order open at any lever)

1st Sell lever hit: No new pending order open.

2nd Buy lever hit: 3 lever Sell new pending order open.

3rd Buy lever hit: 3 lever Sell new pending order open + lever 0 Sell stop new pending order open.

But all new pending orders is the same lot size, not double and at the opposite side ONLY. Anyways it's closed with profits (More profits if open double lot pending at the opposite side and same lot at the same side). Could you create an EA like that ?

Thank you so much,

[Johnfa]

Hi All,

Naufrage's EA works as the file attached. Is there any new comments or idea to make it better?

Thanks Naufrage,

[mantorp]

Naufrage, thanks for all your efforts. Only using one level and tiny lots I think it will take longer until this blows up

Also I wasn't necessarily running this on more than one ccy pair, but any other open orders in the same account seemed to confuse it before.

[shiva]

I really would like to see Williama pull this off now!

[Aliassmith]

Nuafrage,

Would you be so kind as to add a start time variable to your EA?

[power]

I do not want to discourage any type of system becasue I believe everyone that has a great idea should try it out...However William claims to be a money manager and after seeing what I see in the demo I would be very concerned had it been my 100K...even if he gets out of this mess there are better ways of making money trading forex.......

[power]

Originally Posted by power

I do not want to discourage any type of system becasue I believe everyone that has a great idea should try it out...However William claims to be a money manager and after seeing what I see in the demo I would be very concerned had it been my 100K...even if he gets out of this mess there are better ways of making money trading forex.......

One last comment.......I did see the margin level at 50% which would have closed all postions......so what is the point if he continues....in a real account it would have been all over......sorry about that

[williama]

Hello everyone,

I want to make some clarifications regarding the demo account. This demo account is for educational purposes and is intended to show how my system works and the mechanics of it. Also some people here do not have some concepts clear. Many people also is assuming events before they happen.

My intention with the account is to show extreme procedures to illustrate potential situations in a live account. Many people have said that my system runs out of free margin if the market swings for long periods of time and you get the account wiped out. So, it was shown that does not happen as the market has taken a long time to get out of range. Then at the beginning of this week I decided to show what happens when you run out of free margin by closing and deleting the buy orders to show that it still takes time and is difficult to run out of money if you know when to do it.

Also, other people do not have clear the concept between running out of free margin and having a margin call. Therefore, some have claimed that the account would have been wiped out if it was a live account. You must know that running out of free margin does not mean your account is wiped out, it means you cannot open more orders.

Furthermore, people think that the parameters on each account are the same, not so. This demo accounts is just as a live account, it has the same parameters than a live account. As a consequence, everything that happens in this account is what would happen in a live account.

Another member said that the account got to 50% margin level and that the account would close all trades at once. Again, not so, this account has a stop out level of 5%.

I also want to mention that this demo account being an educational tool and that bears no financial loss and therefore is only intended to illustrate situations and the mechanics of my system. I have said in the past that you must practice with demo accounts and get the feeling as to how to operate my system or make your own variants. Also, you must practice according to your own account parameters, trading style and trading knowledge. By no means, I trade a live account with the risks shown in this educational demo account; my live accounts are all successful. Good luck with your learning and do not risk your own money by rushing, become master of the system first.

[Naufrage]

Originally Posted by Johnfa

Hi Naufrage,

Your EA works like this:

1st Buy lever hit: 2nd + 3rd Sell stop lever new pending order open.
(but some times there is no new pending order open at any lever)

1st Sell lever hit: No new pending order open.

2nd Buy lever hit: 3 lever Sell new pending order open.

3rd Buy lever hit: 3 lever Sell new pending order open + lever 0 Sell stop new pending order open.

But all new pending orders is the same lot size, not double and at the opposite side ONLY. Anyways it's closed with profits (More profits if open double lot pending at the opposite side and same lot at the same side). Could you create an EA like that ?

Thank you so much,

With a profit target, this would be useless. The profit is calculated for one initial lot. So if you want it to close with more profit, you increase the profit target and there will be more pending orders added