Discuss ProfitableFx.com

[javier011]

Hi,

I am in EU, my brooker too (Malta).
Do they tell me how to change the settings to match the Asia Session?

So I have to switch off/on everyday?

 

[Teodor Jackson]

Hi,

I am in EU, my brooker too (Malta).
Do they tell me how to change the settings to match the Asia Session?

So I have to switch off/on everyday?

I has automatic switch on/off.
Just type starting and ending hour when you allow it to trade.
Check with your broker his time offset to GMT and add to the Asian GMT hours (as I wrote in previous post).
If you want to trade beyond, you can change both starting and ending hours to the same value.
You can use presets to switch between settings.
You can set it to Asia session only and save as preset.
Then change to 24h and save as another preset. Then you can just switch presets.
You can stop it at any time by removing it from chart. You can also switch off Expert Advisers but this will also block scripts you may need.
MT4 has scripts to close all open trades if you need to bailout. Same with pending orders.
There are many ways you can handle it.
But you need to know the MT4 to the level you won't suffer loses only because you could not do what you should do in the right time.
This is one of reasons I wrote it's rather for advanced users.

 

[javier011]

Thank you very much Teodor,
your posts are great!

I learn very quickly, it is my devise in life.

THANKS, KEEP UP THE GOOD WORK!

J

 

[Teodor Jackson]

Hehe - the first day without profit and big drawdown instead.
You won't find it in statement - this is Equity drawdown while statements calculate closed positions only.

Actually good example what to avoid.
Market was trending the whole Asia session ahead of UK CPI on Tuesday 17 Jan 2011. Everybody expected good figure. Cable did smooth 87 pips trend run till London Open. While the EA was playing it down and opened 6 short positions.
The report came outstanding good - Cable skyrocketed.
But then the Cable personality came back - it reversed short after.
Why? Because the event was already priced it. Everybody banked profits and started to play it "normal" way - buy lows, sell highs.

I should have shut it down completely, I knew it's coming. But I wanted to see what would happen. Now I know why they warned about increasing lot size.
0.1 lot looks small. But when multiplied by 6 or more it draws down very fast.

Lesson learned - control leverage.
If you want to increase lot size, think what would happen if 6 or 8 trades opened in the same time and the market may do 200 pips opposite to your position before reversal.

Good news - it doesn't happen too often. And you can easily protect yourself against scheduled news events.
You can check the calendar and shut it down.
Or even better - check FPA signals. They're about news events. If you find UK or US signal coming, shut the EA down.

Hope this helps.

 

[javier011]

Very interesting post as usual from Teodor.

Thanks!
I however dont understand why the developer of this EA can not prevent that in the algorithms ... (well probably I am asking too much, since I am not a programmer, maybe it is simply not possible.)

thanks Teodor.

J

 

[Teodor Jackson]

Very interesting post as usual from Teodor.

Thanks!
I however dont understand why the developer of this EA can not prevent that in the algorithms ... (well probably I am asking too much, since I am not a programmer, maybe it is simply not possible.)

thanks Teodor.

J

Well it's not that easy.
I mean is very easy for a human to check the calendar.
But the software has to get some feed to act upon.
There are many free calendars you can use.
Indo Run uses ForexFactory one.
But the problem is these free sources may not be accurate and can be modified/redesigned without any prior notice. In effect EA would not be able to read it. Or worse - it would read it wrong and act upon accordingly.

However leverage control can be easily coded.

I would say these guys didn't even think about it.
They say they're traders, not software vendors. They think these things are so obvious everybody is familiar with.
What can I say... typical approach: "if I can see it then obviously everybody can see it the same (my) way". Short-seeing in other words

On another hand it's true - seasoned trader knows what to do and doesn't need any automation.
This is a bit similar to the difference between manual and automatic car gear shifting.

But I agree with you - if they sell it they should make it easier to control for inexperienced users. Another score on the dark side.

Cheers.

 

[speedtouch]

Hello,
I'm a new member. Do you recommend it to buy the Cable run?
I have 500$ available for real account. Naturally if I buy him I will run in demo account for 1 month.

 

[Teodor Jackson]

Hello,
I'm a new member. Do you recommend it to buy the Cable run?
I have 500$ available for real account. Naturally if I buy him I will run in demo account for 1 month.

Start from here:

https://www.forexpeacearmy.com/fore...vices/9475-profitablefx-com-11.html#post54748

 

[supahfish]

website

not on skype anymore and their website is also gone

I'm so stupid to invest $5000 with them

 

[javier011]

Sorry, could you be more specific?
I don't want to interrogate you but could you please clarify what is the product you have a problem with?
They offered various services at some point.

I picked their EA. And I must admit I'm happy with it.
Despite some serious flaws in the EA...

I must admit these guys are really weird.
I think they tried to do something that simply overwhelmed themselves.
Nevertheless there is no excuse if a customer takes loses on a seller promises... As long as the seller is not a scam.
Well, this is something I can neither confirm, neither deny…
Neither I want to advocate… It's not my business anyway

I cannot unveil everything I have learnt but I must admit the Cable Run EA is based on some sound trading idea.
The EA cannot do it as good as an humans can but still it makes systematic progress on my account. I do appreciate it
On the contrary I hate its risk side - this is a classic EA scalping idea: take small wins while allowing 1000+ pips drawdowns…

Nevertheless it does some 1-2% daily on average…

Ah, hard to say - if it didn't do the profits on my (multiple) live accounts I'd trash it immediately…

Hello Teodor,
and what is the status of the EA (in your side) it is still working? or stopped working as they are gone?

thanks