-I am trading this EA on a real IBFX account since 22.06 and so far it has weathered all moves and shows a nice account profit of close to 3%.
-Impressive was the "stand still" and watch move on the latest JPY retreat.
This feature makes me believe that with a proper funded account also larger retracements like last Feb/Mar can be sustained.
-I am using strictly MM and Trademanagement of the EA without any manual interference.
-Since my target level each month is 2-5% , i am leaving the low leverage as is, since my very best advise from years of professional trading is exactly posted already by Project 1972
-I am very pleased with the current DD levels and the Trademanagement.By far one of the most professional ways seen so far.
I will keep posting my Demo tests with a 50% increased leverage as well and hope to be able to finetune and share with the group on certain pairs.
Again .........many thanks to you Project 1972 for sharing this EA.
I hope you keep us updated of any further enhencements.
It is what i wanted to say.
Current DD 1.08%, closed todays profit 0.45%
OK, great, thanks!
I was trying to perform some backtesting using this EA to get a feel for how it works. I started with July 2003, GBP/USD. Once it started trading (Sept 2003) this pair did very well until Jan 19, 2004. At that point half the account was lost. There was a message that said "closing orders because account equity protection was triggered."
From that point forward, even though there were circumstances when new long trades could/should have been triggered, no trades were initiated.
Is this the way it is supposed to work? When this situation is encountered do you have to restart in order to initiate new trades?
If the Equity Protection trigger, you have to restart the EA, this is done to prevent that the EA enter trades again in a potentialy dangerous market condition.
Thanks, I thought that might be the case.
The holy grail exist, use a longterm trend following strategies and a very, very conservative MM and you will do fine, unfortunately most people don't understand "Conservative MM" and often they wonder why they need to refund their account.
A retired trader long time ago told me "Become a longterm trend follower, go and take the higher leverage your broker will give to you, but always trade like it is 1:1 leverage, if you want to last in the markets"
After testing strategy ... good one ... bad one ... ea ...etc. etc.
the only way i found is to use a long term timeframe and play D1/H4 channel inside with a quite conservative mm. It is what's you explain and completly agree with you.
this is kind of holy grail with 40 % /60 % a year (may be more if you add futures ) and it is quite enough with compouded interst ...
thank for sharing knowledge ...
this is the kind of trading I like and was looking for for years.
Thanks 1,000,000 times. Trading MUST be boring...otherwise its gambling!
Suits me perfectly!
Just one thing: I'm using it on a FXDD Mini Account and it shows "Standart" on the chart. I tried to put 0.01 lots in the lot size to prevent the EA from openening trades but it still opens 0.1 lots! Any idea?
Take care and THANKS again for this great work!
FXDD allows as minimum lotsize in a standard account 0.1 lots.
Therefore no matter how low the equity is T.4.11 always will open this lotsize as minimum.
So beware of that much higher leverage, because 0.1 lotsize requires with default settings 100k USD equity in the account!
Note: Just talked to FXDD..............Live trading accounts(standard) can be traded on 0.01 lotsize upon clients requests!
yup...just contacted FXDD and they changed to 0.01 lot trading!
Just be aware that even at 0.01 lot FXDD use a standard lot size.
What Pipvalue the EA show on EURUSD?
If the Pipvalue is $10 you will need $10K as minimal capital requirement, even with 0.01 lot size.
On IBFX you can start with only $1K because MiniAccounts at IBFX have $1 as PipValue
FXDD also have a stop-out very high at 50% of the account (MarginCall) it can trigger before the equity stop of the EA, because that, raise the Equity protection from 50% to something like 60%