Discuss ForexRobotTrader.com

[Nkpe John Ifeanyi]

Hello I purchased the Odin robot today but was unable to use it. Even the HAS that was given to me free is not working. Please can someone help me

 

[JulianRob]

What I can say now about Ganon robot is, it seems people on this forum are too impatient. Yes, the Ganon is definitely profitable. I have run it on a live account on default settings for 1 month, 16 August to 16 September, and it's continuing to run. The account experienced a lift of 10% by month's end. It has taken me 2 years to get this light bulb moment. Here is what I can say:

1. Run it on a demo account for at least 2-3 months.
2. Run it ONLY on the default settings and don't fiddle with them.
3. Run it on NO MORE than 10 pairs at once.
4. Run it on a VPS server or reliable computer with constant power and internet

Also, go to Strategy Quant and download their free Quant analyzer. With this program you can upload the trading statement of the Ganon, and it will tell you all sorts of cool information. In particular, you can drill down to the performance of each pair you trade. When you do this, you will find patterns in the market where each individual pair will typically have a lot more losing trades during a certain time window each day that it opens them.

Mark the bad time windows for each pair on a notepad. You can do the 'What if' analysis and if you filter out the bad trading windows, you will see a huge improvement in Ganon's performance. The win rate will improve by about 10-20%, the stability and consistency of the robot will go right up, and the average winners will increase. In fact, with my statement if I simply filtered out a 7 hour trading window across all pairs each day (Which the ganon settings allow you to do) it would produce a profit of more than double what it did for the past month with those new settings, plus the robot will be trading a LOT more consistently profitably. Create a unique settings file for each pair with the optimized time window for trading.

Run demo account again for a month. If you're happy then start live trading with exactly the same settings. Once I have a lot more data, I will post them here. I am trying to get backtesting working for the ganon but having a little difficulty. This will def. speed up the data analysis.

 

[JulianRob]

Just figured out how to backtest the ganon.

You have to open the account with the EA that its registered to. Open the backtester and set up the ganon. Select the 1HR chart, select visual mode, add the ganon indicator to that visual chart and switch autotrading on. Make sure you don't have any EA's running on that account which might interfere with the backtesting.

Also you need to have a good amount of history for the pair you're testing. Make sure you're running it on every tick mode. It would take probably a couple of hours to backtest a year on any pair. Then you can upload the backtest report to the strategy quant analyzer and review that pair's performance for open trades on each hour, etc.

 

[JulianRob]

OK,

Backtesting ganon, doesn't need visual mode enabled, just autotrading switched on.

Another thing, I'm seeing some common patterns with different pairs. Some pairs perform very badly, like GBPJPY, GBPCHF and EURUSD so I've canned them from my trading account.
After my analysis there are really only around 5 pairs worth trading that are consistent, and these can be optimized by filtering out the trading time of the day in the ganon settings. I'll share my research once I've completed it.

 

[hartleyfx]

Thanks for the feedback! I recently turned all FRT bots off on my end as they were not performing well. :/

 

[hartleyfx]

Yes, please share your Ganon notes! Mine did terrible with the def. settings and then also with a custom set from FRT.

 

[hartleyfx]

OK,

Backtesting ganon, doesn't need visual mode enabled, just autotrading switched on.

Another thing, I'm seeing some common patterns with different pairs. Some pairs perform very badly, like GBPJPY, GBPCHF and EURUSD so I've canned them from my trading account.
After my analysis there are really only around 5 pairs worth trading that are consistent, and these can be optimized by filtering out the trading time of the day in the ganon settings. I'll share my research once I've completed it.

What pairs?

 

[JulianRob]

It's hard to say what pairs now because my research is based on the ganon not performing well. I hope to answer that question in around two weeks time as I've now set up fresh demo accounts for testing the way I really believe the ganon will shine.

One thing I can say is where they recommend not trading more than 1 microlot per pair per $100 account balance - When running on default settings you really need to allow a lot more account balance for trading. My research shows if you allow $200 balance for every microlot and pair you'll see a huge lift in performance. So for a $10k account trade no more than 10 pairs at 0.5% risk (It will open 0.05 lots per trade) or 25 pairs at 0.2% risk.

I'm testing 25 pairs on a 10k account now and it's opening 0.01 lot trades. I think it will go very well. I'll keep you posted.

 

[andicok]

On Aug 8, 2008 Highly recommended

I think what is important here is that it helps to have an understanding of not only how the forex market works, but also how EA's function. I am fortunate that I know just enough to get myself into trouble

This is a good EA out-of-the-box, but with a few minor tweaks, it can be a great EA. Try this to help on the drawdown (settings are in the EA):

1. Close Trades on Friday
2. Raise Risk according to your goals
3. Don't trade on Sunday (wait a few hours into the Asian session before starting the EA

These are basic tips that will help any EA perform better. Drawdown is manageable, as is swap.

By far this is the best performing EA that I have every owned. It's averaging 100 pips a day, consistently! Definitely worth the $199 that Don is selling it for (plus some).

I understand that this EA was not as profitable earlier in it's career. I've seen the performance data, Don has posted this on his site. A lot of other retailers have not been as up-front and open as he is!

If you spend $200 on an EA and expect the world, don't be surprised if you are disappointed; I have MANY times before. There is risk involved in any trade. I am fortunate to have found one that actually works, and that is this one!

Good luck.

P.S. If you want me to post my performance data I can. I have created detailed reports on this one, primarily for forecasting.

hi may i check with which broker do you use for odin ea and so far make profit?

 

[JulianRob]

The new software tool working well