pharoh777
Recruit
- Messages
- 13
Recent Performance
Well,
What a week, it has essentially lost 11 orders in a row. Check out FPA's live account, It's the same as both of my live accounts which both run FGB. Now to respond to earlier posts about performance, this is a trend rider. If there cannot be a second push of 75 or more pips then this EA loses all its orders. It makes orders in direction of breaks (first set). It places second set at the consolidation/reversal point at end of second wave. Sooooo, this EA makes a BOATLOAD of pips when a strong trend is in place. It racks up money so fast you'll be wondering why you don't only use FGB as your only source of income.
And then ranging markets happen! Most of the time FGB stays away from ranging markets if they move gently. But if there are breakouts within the ranges FGB sees it as a breakout and takes the trades accordingly. Only to have them reverse, FGB take a SECOND set in the opposite direction after the first set lose. And since the market can't get the second push in the opposite direction, those orders lose too.
So if you installed FGB in a trending market (35% of the time historically for any pair) you were impressed.
If you installed FGB recently in the sideways market you cannot figure out why you are losing money and FGB must suck.
It doesn't suck, it will make you CRAZY pips during trends. You just have to be careful to:
1) TURN IT OFF FOR NFP
2) If the account is smaller and risk cannot be turned down enough, do not use this product during summer ranging markets.
3) Buy a volatility trader like Million Dollar Pips to go along side FGB during these times (This has helped me cut my losses in HALF this week)
Hope this helps someone
Peace and Profits
Well,
What a week, it has essentially lost 11 orders in a row. Check out FPA's live account, It's the same as both of my live accounts which both run FGB. Now to respond to earlier posts about performance, this is a trend rider. If there cannot be a second push of 75 or more pips then this EA loses all its orders. It makes orders in direction of breaks (first set). It places second set at the consolidation/reversal point at end of second wave. Sooooo, this EA makes a BOATLOAD of pips when a strong trend is in place. It racks up money so fast you'll be wondering why you don't only use FGB as your only source of income.
And then ranging markets happen! Most of the time FGB stays away from ranging markets if they move gently. But if there are breakouts within the ranges FGB sees it as a breakout and takes the trades accordingly. Only to have them reverse, FGB take a SECOND set in the opposite direction after the first set lose. And since the market can't get the second push in the opposite direction, those orders lose too.
So if you installed FGB in a trending market (35% of the time historically for any pair) you were impressed.
If you installed FGB recently in the sideways market you cannot figure out why you are losing money and FGB must suck.
It doesn't suck, it will make you CRAZY pips during trends. You just have to be careful to:
1) TURN IT OFF FOR NFP
2) If the account is smaller and risk cannot be turned down enough, do not use this product during summer ranging markets.
3) Buy a volatility trader like Million Dollar Pips to go along side FGB during these times (This has helped me cut my losses in HALF this week)
Hope this helps someone
Peace and Profits
