Discuss ForexHippo.com (Matt Robinson)

[Ken Long]

bad EURCHF trade today
92.9

pips

Both of my demo's lost on this trade, but luckily I was monitoring my live account due to FOMC meeting and closing any trades that didnt go my way imediately and escaped from this one, very lucky. I also sweated out that GBPUSD trade, anouther lucky escape. This is a big complaint I have with this EA, it often gets into these situations where the outcome seems more lucky than smart. Still, its lucky and profitable, I've seen plenty of smart and unprofitable.

 

[Ken Long]

Hello,
For those of us who are trading in the US, we are no longer able to hedge our trades. As I have a few EAs that are trading at the same time (MD and Hippo, for example) it is possible for one EA to be long the EURUSD and the other to be short the EURUSD. This is considered hedging and the second trade will not execute.

For those in this position, how have you gotten around it? All I can think to do is open two accounts, one long and one short. I don't like this idea as it will tie up capital, but I'm not sure what else to do. Any suggestions?

As far as I know, the only changes being made are leverage limitations, 50:1. All the hedging rules were passed last time and found to be easily avoided. Check with your broker.

 

[Ken Long]

Thanks indeed for your hints: is Profit Farm just a manual system or includes any proprietary indicator ?

How do you rate the new Forex Triad 2.0 ?
Beside the usual hype, I found interesting in their ads such a combo of indicators for any market condition..

Yet unknown is the reliability of such "pattern recogniton" to fit the correct trade to the current situation..
?

Profit Farm is a simple manual system, 8 EMA, with Stochastics, and SAR. There is a seperate thread for it on this site. Forex Triad is anouther different system and it also has its own thread on this site. As none of us own or have tested the Triad system I doubt we could tell you how well it works, but I have seen programs that can pick chart patterns.

 

[Dirk58]

hi Ken

Both of my demo's lost on this trade, but luckily I was monitoring my live account due to FOMC meeting and closing any trades that didnt go my way imediately and escaped from this one, very lucky. I also sweated out that GBPUSD trade, anouther lucky escape. This is a big complaint I have with this EA, it often gets into these situations where the outcome seems more lucky than smart. Still, its lucky and profitable, I've seen plenty of smart and unprofitable.

I wasn´t aware that there was a FOMC meeting because of the other work around me. Damn ya, BUT when I see the FPA demo account and compare to the trades The Hippo is doin with your settings, I must say we are in a much better position. So let see what Matt and you have in your developing bag further on.....

 

[Dirk58]

outtime....

ok, for all who have a look to my live Alpari UK account via myfxbook I just put in the EA which traded. So if you goto Trading Activity-History, put your mouse over the far right symbol under -change- and you get the EA delivered. This I made for because today I signed up with Bob Iaccino. And his new FUS...... Forex Ultimate System. So I get signals delivered by Bob and let see how this works. As far as I could google for him he is a real experienced trader and this is the point where I decided to test this service. Not cheap but perhaps a real good one. So because I will these signals trade too at my Alpari UK live account I marked all trades. And if this service will be a good one I can use this one for business too for even more gain. At the account and for paying customers. Would be nice.
So at my account now The MD, The Hippo and Bob´s FUS............
4 live results goto
Hi1 System | Myfxbook

always good trading

 

[Ken Long]

Donna Forex's weekend e-mail indicates that she will be droping the Hippo from her testing due to many large losses. This is the potential problem with any EA that uses such a large risk setting and an inverse risk reward ratio. If it doesnt work perfectly it will cost you dearly. I will be continuing my testing since I am doing well, but I am cautious here, this is not a good sign, and I do view this as a risky trading strategy. I think the key to survival with this is to use anything you can to eliminate risk and potential losses, even if it means missing good trades. That means only running the best pairs and using the trade filters.


Dirk,

Iaccino is a well known trader and I suspect you will do well with this service. If you start a seperate thread for this let us know. I would like to follow and see how you do. Also very interested in what he is offering, signals, education, etc.

 

[Dirk58]

hi Ken

ya, hope so too. His chat is great, and there are 2 trades open by now. I´m not in because these were earlier ones so I´m waiting now for action. Great thing he says that he won´t send a signal just to send a signal.
By the way, check your PM next minutes.

Ya, recieved the mail from Donna Forex too. I think she is using the recommended settings and as I can see at the FPA demo account the Hippo had more bad trades than we had with our settings. As you said before the Hippo is great for developing because of all the settings he has and by now I´m happy with our ones. I think using the right settings is an big advantage. If Donna had used our ones the Hippo would be still in her bag of EAs.....

AND The Hippo was hungry this morning, opened EURJPY trade and closed with 21

pips......
always good trading

 

[Dirk58]

next one..

opened an GBPUSD short trade.....

 

[Ken Long]

Hello,
For those of us who are trading in the US, we are no longer able to hedge our trades. As I have a few EAs that are trading at the same time (MD and Hippo, for example) it is possible for one EA to be long the EURUSD and the other to be short the EURUSD. This is considered hedging and the second trade will not execute.

For those in this position, how have you gotten around it? All I can think to do is open two accounts, one long and one short. I don't like this idea as it will tie up capital, but I'm not sure what else to do. Any suggestions?

Dear Ken,



Thank you for contacting us.



FXDD's backoffice does not recognize hedging. It is a position based system and all opposing orders are offset immediately. It is through this Backoffice system that all reports will be generated, and your actual account value is displayed. Once one side of an offsetting position is closed out on the dealing blotter, or the MetaTrader4 Platform, a position is again reinstated in our Backoffice. As a result, this change should not affect your trading style and should not affect your EA if you use one.



According to the FIFO rule, all open trades on a specific pair must be treated as a single position. Report Viewer, which is FXDD Backoffice follows a concept of weighted average. It displays a single value that is meant to typify a list of values that are within the same category (same currency pair).



So, your MetaTrader, which is recording tool will display two separate orders for the same currency pair, but our Backoffice will treat them as one, since they are within same currency pair and display it as one, with a weighted average price. How do you calculate a weighted average? Lot size x rate + Lot size x rate, etc. add all of these up and divide it by the total lot size.



Example: 0.1 @ 1.1450, 1.3 @ 1.5050 and 3.2 @ 1.3940.

So, (0.1 x 1.1450 + 1.3 x 1.5050 + 3.2 x 1.3940) / (0.1 + 1.3 + 3.2) = 1.419956522



Because we treat it as a weighted average, you can still close any position in any order on MetaTrader side, but it will be settled against weighted average in the Backoffice. As a result, this change should not affect your trading style and should not affect your EA if you use one.



If you have any questions, please let me know.



Best regards,

_______________


Jason Galano
Sales and Support

 

[Dirk58]

perhaps

this is an useful link for all who are backtesting....
goto MT4 Tick data | Birt's EA review

always good trading