FPA Exclusive 30% Discount on ForexMostWanted EA Robot

[4xlee]

AVOID grid systems at all cost

Grid system? It is just matter of time. It will end up with blowing your account.

I totally agree - grid systems are an absolute waste of time and money.

Check out the live account - I added a screen shot in case they remove it from myfxbook....
ForexMostWanted.com Conservative Risk System | Myfxbook

 

[pt49]

If you look at the Myfxbook results then it seems that things just collapsed...

Yup... grid trading is just another version of martingale. As a position is losing, a new trade is placed at preset intervals (every 20 pips move for instance). What happens eventually is that a 300+ swing comes along, the EA keeps adding new trades against the swing and if the reversal doesn't arrive in time, it wipes you out.


I tested a brilliant Grid trader EA about 4 years ago that lasted a maximum of 6 months on a conservative setting, however was never game to try it on a live account. It stacked up 40 to 50 trades at times before closing them out in profit for a 1% gain of equity.


I ran it demo with settings ranging from scalping 1 min up to swing trading 4 hour charts (over 40 variations of pairs, timeframes etc), and every single account eventually wiped out, with the best lasting 9 months (15 minute with medium risk)... which made about 25% a month on average.


The 1 minute scalper placed over 5,000 trades in 3 weeks, increased the account 50% and then bombed out.


Regardless of settings, the minimum account size required was $10,000.


Maybe I should retest it again... I could make a motza selling it to fools who trust 2 or 3 months forward test results

 

[fxeasy75]

Acct trading on conservative is abt 3mths and already signs of dd is very bad, its NEGATIVE 2000+ pips. I would stay away until they can fix this. Usually wont trade EA, now on Tom's EA trial version. Lets see how it will survive. It seems Tom's EA has been around with traders at least abt 1-2 years and they got real live trading results as well, maybe worth it to use. My trial results placing on demo (std) accts is fine so far.

Anyone using Tom's EA for at least more than 6 mths pls let me know whats your results or comments

 

[peteronmaui]

30% drawdown for 30% discount ? No thanks

I have fooled around with grid systems, even developed my own for months, if not years, but so far for
every grid system a black swan arrives, and then it's over so fast you don't know what happened.
Every currency pair , even the most 'boring' ones, had one of those situations over the last years,
it's just a matter of time.

 

[ForexMostWanted]

30% drawdown for 30% discount ? No thanks

I have fooled around with grid systems, even developed my own for months, if not years, but so far for
every grid system a black swan arrives, and then it's over so fast you don't know what happened.
Every currency pair , even the most 'boring' ones, had one of those situations over the last years,
it's just a matter of time.

Hi,

Yes, EA had a drawdown recently. Sorry, haven't made EA yet that do not make any drawdowns

It's a Grid EA, but it doesn't blow your account. Maximum DD On Conservative risk is 30%.

You can choose whatever Risk you like. Other 2 accounts basically had maximum risk.

Kind Regards,
FMW Team.

 

[ForexMostWanted]

I totally agree - grid systems are an absolute waste of time and money.

Check out the live account - I added a screen shot in case they remove it from myfxbook....
ForexMostWanted.com Conservative Risk System | Myfxbook

View attachment 9439

Hi,

No it won't be removed till FPA campaign is running. Later on we will pay more attention to High Risk sets and will optimize the EA based on this.

Kind Regards,
FMW Team.

 

[ForexMostWanted]

Hi,

You are mostly right, but EA do not double lot size. Basically Buyer can setup this by himself, he can make it not to increase at all, as well as to setup any S/L (by equity).

Kind Regards,
FMW Team.

 

[tonney]

In answer to your question fxeasy.I would highly recommend to stay well clear of Toms EA. It is a martingale strategy that will eventually blow your account as it did mine twice ( many other people lost heavily as testified on the Toms Ea Members Forum) since i purchased it and ran it on VPS since late 2011.