ForexGump.eu

Johan Olwage

Private, 1st Class
Messages
41
Read the correct definition of Martingale, then see how FG behaves on conservative settings. Not the same whatsoever.
 

romalomey

Recruit
Messages
7
Mr Volvo :)

Some things to think about:

1) You would have a robot that works, would sharing this to the world have positive or negative effects on your positions?
2) When you would invent a robot, make millions, would you bother selling it to ther for 50 bucks?
3) When you are a mql5 programmer, you can make your own super robot. Why bother offer programming services for $9/hour?
4) Many Robots are based on price action. But is modern market driven by emotional action or price action?
5) Latency arbitrage. The makers sell/rent the program for $50/month and make advertisements that they make 1million/month.

Get the point?



If you do strategy testing with tick data suite or simular, with real spread, you will see from 2010 to 2020 that after 2015 price action robots do not work anymore. Probably because everybody uses robots, so the market gets unlogical due to overkill.
That's why big financial institutions do the opposite: When price goes up and everybody joins in the hype, the wait a little and then bet price will go down...




Solution how to make money with forex:
You have to be a super pro, and belong to the 20% that makes money from the 80% that loses. Folowing the more long term trends who are reliable and non influecable(manupilatable)

or

Do something different, something others do not do. I'm working on 3 out of the box things. And I now make little profit with one. But... As you can imagine, will never share it.


Why forex?
Want to become a miljonair easy?!
I became it at age 37, did it by working 80h/week in my own company. Now retired and suffering a burn-out and other physical and mental problems.
Was it worth it? No. I feel sorry for the people who think money makes you happy.

Enjoy forex! It's exiting and fun, but do not put too much hope on it.
 

Viliam

Recruit
Messages
1
I had that robot on the demo account about 1 month like you (Tarry)and than change that on real account and after two weeks he lose all my money 6000 on 0.01 lots... so i am now confused and little bit blocked...
 
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romalomey

Recruit
Messages
7
I had that robot on the demo account about 1 month like you (Tarry)and than change that on real account and after two weeks he lose all my money 6000 on 0.01 lots... so i am now confused and little bit blocked...
See attachment in post 41.
Buy Data tick suite. Back test with it. Set the reality settings to real tick values. And be shocked, all robots fail.
Will best the best app you ever bought in your life :)
 

RoboFX123

Private
Messages
13
See attachment in post 41.
Buy Data tick suite. Back test with it. Set the reality settings to real tick values. And be shocked, all robots fail.
Will best the best app you ever bought in your life :)

You can use the data tick suite for free for 14 days. The problem is that it tests the past and does not guarantee results in the future. Another problem is that it can only test one pair at a time and not more pairs. Now he's pretty expensive.
 

RoboFX123

Private
Messages
13
I had that robot on the demo account about 1 month like you (Tarry)and than change that on real account and after two weeks he lose all my money 6000 on 0.01 lots... so i am now confused and little bit blocked...

Request the beta version of V3 which has more new setting options. It's best to use your testing settings.
 

Johan Olwage

Private, 1st Class
Messages
41
For those who have been trading Forex Gump for a while now, here are some general notes as to my experience with this EA since I opened 3 live accounts earlier in 2020 (January, then February and finally in April):

1) Firstly and most importantly is to note that the move of currencies against (especially the USD) was huge and much bigger than any other sustained move in the last decade! For example, the EURUSD moved from 1.09 to 1.20 in a matter of 2 months! (Covid did not even spare us here too ; )
2) Forex Gump Ea (on conservative settings) withstood these exessive moves, yet went into massive drawdown (up to 70% in one account, 60% in the other and 50% in my 3rd account). This is noteworthy as it means that (even in extreme cases) it will not blow your account.
3) To overcome the massive drawdown problem, I have changed the settings of the EA to maximum 7 open trades (both on sell and buying positions). This will limit future drawdowns.
4) One is (however) left with a large number of old open positions that are affecting the performance of the Ea and the only way to deal with that is to close those old (redundant) positions manually when profit-taking allows you to.

The nett effect of this is that I have to be content with very slow growth on the account (but still growing, at least) while I weed out the old positions. It may take me up to 10 months!
I trust that this may help those who are still contemplating using this particular EA.
 

Johan Olwage

Private, 1st Class
Messages
41
Only I have big DD on live account now ?
Yes, I also am sitting with a very big drawdown and closed one account. I am now trading out of the DD's by opening only those charts where I trade in the direction of the trade and the EA set to only max 3 open positions. With the profit generated in this way, I then slowly close old open trades where there is no chance of price moving in that way soon.
This, effectively, means that Forex Gump EA (in my 2 live accounts) will not grow much over the next 12 months.
 
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