Discuss ForexHippo.com (Matt Robinson)

[Ken Long]

Just some info about the GBPUSD loss on the 24th. Anouther trader had writen in complaining about the FPA test and I did some work and found some interesting facts, and my opinions as usual. I dont feel like posting it all now, but you can link over and read it if you like, Forex Hippo - Live Testing - Forex-FX Forum

 

[MattRobinson]

All the recommended settings are based purely on back tests for 2010. It is not 100% optimized settings, but should give fairly good results, without having a too large risk/reward ratio. Although some pairs have much higher SLs than TPs.

I am running version 1.0 settings on my own accounts. Here is one such account: MT Intelligence - Statement for forexhippo
Although there are some large open trades, the account is still in the positive over all.
I don't want to close these bad trades manually, and will keep them open until Forex Hippo closes them. Else the results will be skewed. If those were manual trades I would most probably have closed them long time ago.

Thanks for all the survey submissions so far! It really helps me and gives me ideas for improvement. I'll share some of the results with you once I have a bit more people that took part. But so far it really seems like people are fed up with bad support in the Forex market. And that they are tired of being spammed with 100's of affiliate emails promoting new EA's.

 

[Ken Long]

Amazing day for the Hippo yesterday. My FXDD demo did almost 50% gain from just the EURUSD and EURJPY pairs, no losses, the other pairs didnt have any trades. EURUSD is running the recomended setting, and EURJPY is running the default setting (30,100) with the MA Open filter on, both with a 15% risk setting, wow. My FXCM demo account did a bit less, 25% gain, and it took a big loss on the USDCAD, to end with a 10% gain for the day. Great day for the Hippo.

I have been adding some different pairs to my accounts. Testing for results and looking for losses to analyze. Its kind of hard to get a proper understanding of a trading program without enough losses.

I've also been doing some short term backtesting, just to analyze the indicator signals, and trading strategy, and things are looking good. The basic strategy, on full default, and with the MA Open filter On, both work well, and I dont see a lot of difference yet. Theoreticaly, I prefer the MA filter on, but practicaly it works well both ways.

The idea of using the overbought, oversold extremes is interesting, but its more than that. Its also selling on an uptick in the short term Stochastics, and visa versa for buying. This flucuation, along with a strong trend, was just enough to allow the program to open and close several trades on each pair, resulting in a great profit.
I take back a previous comment that a quicker RSI might produce a better result. Not in this senario. I'm far too familiar with trying to catch reversals. In this situation, the slower RSI is a great confirmation of a stronger trend, for the quicker Stoch to offer signals in.

Still have a lot more testing to do. Particulatly the BBands in conjunction with a reverse signal. We'll see, but after these results the extra testing becomes easier. Theres a pot of gold at the end of this rainbow, if we can just hold onto it, and keep it flowing....

 

[warrie]

Looks as if they're still running the eurjpy pair with the wrong settings. They say themselves its running as recommended. Wich is impossible, not a single other hippo test, including myself is showing similar results as on fpa.

Yesterday the wrong settings turned in a much greater profit then intended, tommorow it could blow the account..

 

[MattRobinson]

Looks as if they're still running the eurjpy pair with the wrong settings. They say themselves its running as recommended. Wich is impossible, not a single other hippo test, including myself is showing similar results as on fpa.

Yesterday the wrong settings turned in a much greater profit then intended, tommorow it could blow the account..

Yes indeed. I see there was a loss on that pair today... With the recommended settings the loosing % of EURJPY is a lot higher than with the other pairs. So its definitely a good idea to reduce the Risk setting on it. Hence the recommended Risk of 2. Compared to 15 for the other pairs. It looks like the Risk for EURJPY is set to 15 on the FPA account.. Not 2.

 

[MattRobinson]

Amazing day for the Hippo yesterday. My FXDD demo did almost 50% gain from just the EURUSD and EURJPY pairs, no losses, the other pairs didnt have any trades. EURUSD is running the recomended setting, and EURJPY is running the default setting (30,100) with the MA Open filter on, both with a 15% risk setting, wow. My FXCM demo account did a bit less, 25% gain, and it took a big loss on the USDCAD, to end with a 10% gain for the day. Great day for the Hippo.

I have been adding some different pairs to my accounts. Testing for results and looking for losses to analyze. Its kind of hard to get a proper understanding of a trading program without enough losses.

I've also been doing some short term backtesting, just to analyze the indicator signals, and trading strategy, and things are looking good. The basic strategy, on full default, and with the MA Open filter On, both work well, and I dont see a lot of difference yet. Theoreticaly, I prefer the MA filter on, but practicaly it works well both ways.

The idea of using the overbought, oversold extremes is interesting, but its more than that. Its also selling on an uptick in the short term Stochastics, and visa versa for buying. This flucuation, along with a strong trend, was just enough to allow the program to open and close several trades on each pair, resulting in a great profit.
I take back a previous comment that a quicker RSI might produce a better result. Not in this senario. I'm far too familiar with trying to catch reversals. In this situation, the slower RSI is a great confirmation of a stronger trend, for the quicker Stoch to offer signals in.

Still have a lot more testing to do. Particulatly the BBands in conjunction with a reverse signal. We'll see, but after these results the extra testing becomes easier. Theres a pot of gold at the end of this rainbow, if we can just hold onto it, and keep it flowing....

Thanks for you extensive testing Ken. I am sure there are more pairs that will be profitable. Not just the 8 recommended ones.

 

[Ken Long]

Thanks for you extensive testing Ken. I am sure there are more pairs that will be profitable. Not just the 8 recommended ones.

I'm sure other pairs can trade just as well. My initial concern is cost basis, range/spread, Luckily we're going for reasonable targets, but some pairs, EURGBP, are still not worth the effort, and some brokers make good pairs unreasonable. My real interest so far has been analyzing the basic strategy, and getting my profit and loss targets set. For this I find that using a longer term ATR and setting my TP to the mid to lower end of a 1 hour ATR, and my SL to the mid to higher end of a 4 hour ATR works well.

Does the basic strategy use the 20SMA for directional confirmation when opening trades, it seems to?

I've also noticed that when a trade closes quickly, less than 30 minutes, it will open anouther trade as soon as the time elapse is up, if the indicators are still at the extended levels, without waiting for Stoch to cross. This produced some nice profits the other day. It managed to capture 6 trades off the EURJPY, all to 30 pips profit.

 

[Dirk58]

hi guys

because of the impressive results of Hippo I will get him perhaps next week. But before I have a question. Because of a small account size of app. $500 for this one what pairs can be traded within my small account???

and anybody here who´s trading Hippo live?

and yes, Ken is always a great help for all this

 

[Ken Long]

Yes, I've just started Hippo on my live account at the 0.01 level, 3 pair to start. This doesnt need more than a few $$ to run multiple pairs. I will be comparing results with the demo and testing for the best pairs and settings to increase. There are some very interesting optional settings, but I have a feeling the standard settings will be most profitable.

 

[Dirk58]

can´t

await to have my ThinkForex account ready to have a go with Hippo. As you mentioned before they have expensive rollovers I think it´s an account for this EA. And they changed spread too.
As there are:
• EUR/USD as low as 0.7

• USD/JPY as low as 0.8

• GBP/USD as low as 1.5

Because I have no cost for vps ( normally for $18 and up) a bit more expensive rollover is affordable this way.

The other thing what makes my decision Hippo pro was an email to Mr. Robinson and yes, quick and positive answer recieved. So with your statements Ken this EA looks so damn good it could be the one for me and business. And because of Mr. Robinsons active posting over here, this should be the next shooting star. Great to be here too and guys

always good trading