Envelope Scalper EA - 5 min - page 7
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This envelope scalper thing is a big scam by Pipsweak
If you carefully inspect the statement he posted on post #19 and notice the opening and closing prices, then you will realize it.
Statements can be easily edited.
Also, his responses to others' questions are very suspicous- like the not using IBFX for testing the EA.
Pispsweak is trying to scam people for $5,000.
round and round we go...
The bottom line for me so far: The EA has had minimal success in my forward testing. So, unless their is a custom set-up that we need to know about..? it doesn't seem to work, so not worth any conversation...
Wasn't so bad though. I've decided to let it run on demo for few months. Until then, I'll open another sub account and transfer a few hundrad bucks to test it out then. And I strongly belive eventough it works on live account, I wont belive it works on our main account. Imagine if you place a 10lots order during non volatile time. Broker will put you on manual execution. Besides, 10lots during non volatile time will forced the broker to widen pip spread. Even if this system is good enough to hold the positions until it hit the 6pips profit to exit with profit... imagine you exit 10lots during non volatile time. Price will plunge before your full positions get away.6pips - 2pips spread - 2pips slippage(very loose assumption, 10lots during non volatile could move the market for atleast 5pips). So, your profits=2pips. Conclusion, trading this EA with low initial capital, such as below 10k on standard account shouldn't be a problem. Take a low ride fly below the radar should work.
Regards
David
Do you really find your attachements " not so bad" ??
Do you really find your attachements " not so bad" ??
Well, atleast it keeps the account alive. Are you pissing of something or what?
I'm not agreeing decompiling or whatsover illegal act on changing property name etc...etc... But the backtest did attract my attention. I knew there is a flaw on MT4 backtester, but I just wanted to see what will happen on forward test, even live test in the future.
Regards
David
Well, atleast it keeps the account alive. Are you pissing of something or what?
Regards
DavidI have no probs at all, but it just seems you posted the wrong attachement : this one is loosing 8k$ in 20 days...
I have no probs at all, but it just seems you posted the wrong attachement : this one is loosing 8k$ in 20 days...
Its a 200k account, down 8k is about 4% only. Not a very big deal. I've seen worse(my own scalping EA), so I said not so bad
. My scalper EA wipe out the account in 3 days. Then I invert the entry rules, to reverse the long and short signal. And I did improved, wipe out in 1 day 
Both Live account and Demo account produce bad results, only backtest is great. Therefor, I see 4% drawdown is not too bad.
Regards
David
Okay - I have run this in a live demo for the last few days and it is doing fine. The money management is a little out of control but you can tone it down. Since 5.21 I have had 29 trades and 21 have been profitable. The biggest gainer was 902 while the biggest lost was 611. Again the money management on lots is way to high bu the 10000 demo account went to 12450 in just a couple days.
So I am trying this on 6 pairs with money management turned off and the lots set to 1.0 for all. I just picked a bunch of pairs to see real results. Not saying these should be traded but rather tested for now.
EURUSD
GBPUSD
USDCHF
USDJPY
EURGBP
EURCHF
Hopefully this will give us a good sample. I will run this from 1300 EST until about 1700EST - leave work and plug back in around 1800-1900 EST. During my down time since the stop is already set int he system I will make the TP the 5 pips. This way if a profit or loss is reached it will get filled. When I'm back home I will let the EA run until it goes off around 0500 EST.
Okay here we go...
Minnelli
First turn of money management so our spikes are smoothed out. xMM=False and make sure xLots=1. Run for example 2007.03.01 - 2007.04.30 and lets see the results. I'm not saying your wrong, but my 1000 goes to 5282; 300 out of 380 trades were profitable. Now I know this isn't going to happen in real life, but try it and post your results if you don't mind. Maybe my data is bad, but my chart doesn't look horrible.
What I'm trying to figure out is can this be something used on a few pairs that could help limit the overall risk.
I will post results in the morning, but I'm down a little right now in forward testing on all 6 pairs I mentioned.
I really want to find a system that isn't based on a breakout but more of a trending between Bollinger bands or envelopes. I want something that can bounce off of highs and come back, not bounce over the line and take off, which I feel is rare. I'm looking for the retracement which happens more than a breakout during weak hours.
Help us all learn Shinigami...
Thanks - Minnelli
Here is the graph for March and April 2007. [1 lot only]
Okay not the best results but there must be a way we can tweak this. I love the concept of the price bouncing off a channel and coming back. I think this happens more often than a breakout. Can some of you guys start taking a look at this. I feel it has legs but just needs tweaked.
By the way, I'm not sure why the backtesting is so incredible. I generally take money management off and keep it on 1.0 lots just for a baseline.
Anyhow my results for the last week or so are attached - All 6 pairs I mentioned before. I will just be trading the EURUSD on one of my VPS accounts so it can run 24x7.
FYI - If your interested, I'm not plugging anybody but I have been trading live with a few folks. I have my results posted over on my blog. Not sure I can say who I'm trading with, but the moderator can sensor this part if they want. FX Guru and FX Auto from FXDD. My FX Auto is up to over $3000 from a starting balance of $2500 a month ago.
Minnelli
http://minnelli.com/forex