Discuss ForexHippo.com (Matt Robinson)

[warrie]

They didn't set up their hippo properly, 2 trades of eurjpy of 1.5 and 1.7 lot? this pair is set to a low risk setting (2 instead of 15). fpa problably messed up the stoploss with the risk setting.

 

[michaelwen]

yes, I notice it too...

 

[Ken Long]

It appears they've gone through the pairs several times recently trying to recalibrate the settings. When they began they were running default settings, 30 TP, 100 SL, with a fixed lot of 0.1. Around the 25th they changed to 0.20 and may have also changed the SL and TP settings to those recomended in the manual. It seems they went through again on the weekend and changed the GBPCHF back to 0.10 and probably tried to change the EURJPY as well. They probably turned the auto risk adjuster back on by mistake.

I'm not particularly pleased with the settings they've provided. Theres really no reason why the EURJPY should be so different from the GBPUSD or EURUSD. These pairs all run similar ranges. The USDCHF and USDJPY should be tighter as the range is generally smaller, but this should also affect the SL. And I dont understand why the EURCHF and EURGBP dont use the MA filter to open, or why the GBPCHF is the only pair to use the BB Filter.

The optimization on these pairs really leaves a lot undone. And it is an enormous task to do well.

 

[JAIME TOSCANO]

Is it bac luck or what ?

I wonder why is it that whenever I see a good performing EA posted on FPA, and decide to purchase it, it starts loosing money.

 

[michaelwen]

hehe, Hi, Jaime. that is life of 95% of forex trader^_^
Forex hippo. open a lot of trade since last week. up and down , now break even. all setting by the recommend in the manual.

 

[michaelwen]

by the way, Ken How you think about Profitfx cable run EA? any idea? thanks

 

[MattRobinson]

Hi there guys

One of my customers asked me to join in on the discussion here and explain a couple of things...

1. It seems as if the settings for EURJPY is not inline with the other pairs on the FPA demo test. All the other pairs seem to trade at a fixed lot size? and EURJPY be set on MoneyManagement. The recommended settings have the Risk of EURJPY A LOT lower than the other pairs. Infact its on 2, while the other pairs are on 15. On the FPA test quite the opposite is observed. EURJPY runs with the highest risk settings. This pair also has a much higher loosing % compared to the other pairs, and thats why its recommended Risk is so much lower. When EURJPY pair wins, the wins will be big compared to the loses, because of the higher TakeProfit. ForexHippo - Strategy Testing
Unfortunately the test results of FPA is skewed now because of this pair running with incorrect settings...

2. Forex Hippo does not make use of any Martingale strategy!

3. A lot of people believe that the previous version was a lot better than the new version 1.2. Well, the good news is that you can still get the exact same results as the previous version by using just the default settings. (And not the recommended settings.)
You can also get version 1.0 results by using the following settings on version 1.2:
MoneyManagement=false
Lots=0.1 (Adjust this according to your account size. I use between 0.05 and 0.1 lots per $1000 in my account)
StopLoss=0;
The rest of the settings on default.

4. What settings do I personally use? I still run version 1.0 settings on all my live accounts.


Hope this clarifies some issues ;-)

If you have any questions, please do feel free to ask!

Kind regards
Matt

 

[Badams]

Show us the Money

Matt,

Do you have any other posted account statements for Hippo? Especially with v.1.0/default setting 1.2. I was going to pull the trigger on this EA until this week got me thinking of other disasters.

Thanks,

 

[Ken Long]

Great to see Matt Robinson here. This really gives me confidance that this is meant to be a long term great product, with an interested and active developer.

I was just reading Matt's e-mail that came out today and I think the FPA's errors occured when installing the new v1.30. I didnt realize that the fixed lot size was a part of the previous versions.

Matt's concern about the EURJPY is probably correct, I havent done any testing yet to confirm either way. It just happens to be a personal favorite for manual trading. On the other hand with a 70 pip profit target and a 10 pip stop loss, I think you will get a high loss rate no matter which pair you use.

My question here would be: Why did you choose a TP and SL that were the opposite of all the others?

I still have a few questions and comments, but I'll save those for the survey you just released, and I still need to do a little testing and try to find my own answers.

Take the time to fill out Matt's survey and voice your questions and concerns, I know I will. He seems serious and this can only help us.

 

[Ken Long]

Just a quick follow up. Matt's survey was great and I took a lot of time to complete it and make my comments. He seems like a genuine person and not just some Forex marketer. He seems honestly concerned about improving and proving his EA and not just interested in sales. I have received no affiliate e-mail spam from him at all, especially concerning the recent Bulletproof mega spam scam.

I am going to give him and his EA at least the month of Sept to get back on track before deciding whether to keep or refund it. The last two weeks of Aug were incredibly hard on many traders, with complaints from traders on all time frames. His EA produced extremely well before that, and hopefuly will continue to.

However, I do have several concerns and questions about his settings which I voiced in his survey. Basically, why is the GBPCHF the only pair to use the BBOpenFilter, why dont the EURCHF and EURGBP use the MAOpenFilter, why dont any pairs use the MACloseFilter, and why are the EURJPY SL and TP settings the inverse of all the other pairs?
I also recomended that he install a volitility range based stop loss, similar to what Megadroid uses, which would work very nicely with his risk adjuster, which does use the stop loss amount to determine position size.

I also have doubts about the overall strategy of buying overbought conditions on all the indicators and selling oversold conditions, aligned with the trend, but we do have the option of reversing this, which may be a good move. This still needs to be tested further, as do the BBand filter and MA Close filter.