Blessing 2 - page 90
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thank you guys for this first answers, my sad experience should help other traders to better chose their broker before going live. Any advise on other friendly brokers ?
I'll PM you tonight. I have another good broker for you.
Who is making money?
Another slimeball bucket shop. They don't even know what scalping
is. The real reason for the letter is that you are making money and
they don't like that.
I'd check the min lot's, too. It's possible that .1 lots could be $1/pip.
Doesn't matter much, anyway, since you will need another broker.
RobSorry to be naive ... but with Blessing, in order to make a slow steady return, you must block quite an amount with the broker , which cumulated with all clients is quite a float for the broker. Blessing returns relatively small gains which cumulated are certainly a "blessing" but in the meantime the broker makes a GREAT amount of money out of the spreads, which is their bread and butter.
The benefit or loss coming out of a trade is not out of their pocket.
Do I understand it well...????
Sorry to be naive ... but with Blessing, in order to make a slow steady return, you must block quite an amount with the broker , which cumulated with all clients is quite a float for the broker. Blessing returns relatively small gains which cumulated are certainly a "blessing" but in the meantime the broker makes a GREAT amount of money out of the spreads, which is their bread and butter.
The benefit or loss coming out of a trade is not out of their pocket.
Do I understand it well...????I used to think the brokers were happy, because they
made it on the spread. The fact to the matter is that,
unless you're routing via ECN, there is always someone
on the other side trading against you. Same goes for the
stock market with market makers and specialists.
I have several friends who have received letters exactly
like the above. They were successful traders and were
not considered "profitable" clients for their brokers,
despite "making it on the spread."
Consider what Alpari has done with their Micro and
Classic accounts. The micro limits max lots to 2, and
the Classic has a min starting lot size of .1. This was
done entirely to squeeze out traders using martingale
EAs.
Rob
I used to think the brokers were happy, because they
made it on the spread. The fact to the matter is that,
unless you're routing via ECN, there is always someone
on the other side trading against you. Same goes for the
stock market with market makers and specialists.
I have several friends who have received letters exactly
like the above. They were successful traders and were
not considered "profitable" clients for their brokers,
despite "making it on the spread."
Consider what Alpari has done with their Micro and
Classic accounts. The micro limits max lots to 2, and
the Classic has a min starting lot size of .1. This was
done entirely to squeeze out traders using martingale
EAs.
RobWith as much money as there is flowing though the markets, enough is never enough. Isn't this the same mentality with Vegas casinos? Anyone able to consistently beat the house, is quickly shown the door or taken out back and shown the true meaning of beating
Hi Iron:
First of all, many thank for developing this EA for fellow FX traders. Really appreciate your effort.
Next, I would like to suggest adding the following feature into the next updates:
1. Manual Shutdown:
There are times that we need to close this EA, with all its open and pending orders corresponding to that particular pair (particular magic number/comment), before hitting the profit target, for some reason. If we have this manual shutdown mode activated manually, EA will close these open and pending orders immediate while leaving orders from other pair (magic number/comment) in tact.
After manaul shutdown, a display of "Manual Shutdown" message would be nice. EA should not open new sessions until this "Manual shotdown" option is set back to false mode.
2. Shutdown After Current Session (SACS):
There are time when I just wish Blessing to close the current session as usual and don't start any more session after closing current session. A SACS option once set to true mode, will see that current (magic number) session is closed don't start any more session after closing. A message displaying "SACS Mode On" should be nice too.
Thanks for consideration.
HERE is another answer from Activtrades when i asked them why they consider my eas as scalping. I remember you guys that i only trade blessing on this account and been making profit for almost 3 months...
"I understand your frustration, our definition of scalping is:
"Scalping can be any one or combination of several factors. High frequency trading, multiple opening or closing of positions at the same time, short term trade duration, trades with small profit targets or trades predominantly made in illiquid time-zones. ActivTrades Risk Department constantly monitors these conditions for the sake of continual correct pricing to clients and the effective hedging of our own positions."
Your trades have been analysed by our Risk Dept and the decision is final. As previously written we want you to trade with us. i would strongly encourage you to take a look at a Scalping demo account and you will see there are spread benefits. One account is neither worse than the other, they are simply different. We have many cases of this kind where clients having traded for some time are then asked to switch to Scalping conditions, in most cases clients are satisfied."
obviously this guy considers that trading 0.1 lot is not worth than trading 0.01 lot...strange they dont know the difference
HERE is another answer from Activtrades when i asked them why they consider my eas as scalping. I remember you guys that i only trade blessing on this account and been making profit for almost 3 months...
"I understand your frustration, our definition of scalping is:
"Scalping can be any one or combination of several factors. High frequency trading, multiple opening or closing of positions at the same time, short term trade duration, trades with small profit targets or trades predominantly made in illiquid time-zones. ActivTrades Risk Department constantly monitors these conditions for the sake of continual correct pricing to clients and the effective hedging of our own positions."
Your trades have been analysed by our Risk Dept and the decision is final. As previously written we want you to trade with us. i would strongly encourage you to take a look at a Scalping demo account and you will see there are spread benefits. One account is neither worse than the other, they are simply different. We have many cases of this kind where clients having traded for some time are then asked to switch to Scalping conditions, in most cases clients are satisfied."
obviously this guy considers that trading 0.1 lot is not worth than trading 0.01 lot...strange they dont know the differenceThey don't like your EA, Alex. If they were that concerned about your
scalping, they would have shut you down two or three months ago. Any
account that is limited strictly to market orders is worthless. I trade a
manual system with IBFX and I always use limit orders. That way you can
set up your trades in advance. With market orders, you have to sit in front
of your monitor for the duration.
Rob
New Blessing Version
All,
I hit an EP stop live on the USDCAD this week. However, Blessing did not close out the trades nicely. In fact, it left some dangling. Turns out there was a flaw in the EP closing logic that did not allow for a fast moving market, nor did it delete pending trades.
It was that second issue that bit me. I had my Blessing portion on the USDCAD at 5 which gave me a portion balance of $380 on my live IBFX, penny a pip micro account. When EP hit, it should have only lost $190. When I added up the losses, it was $270! Because the EP logic did not close the pending order, the market ran, caught the pending order, and continued to lose and by the time I saw it, it lost $80 more.
Damn! First of all, it's my bad for using an old set file with the USDCAD. Blessing is so easy to backtest for better set files that I should have taken the time to do so. Second, this EP logic issue was just pointed out to me by another forum member at the same time this event happened. It cost me a some money to find and fix this error but it's been fixed.
Blessing 2 v5.1 is attached to this post for now until FifthElement can post it to post one. In the mean time, download it NOW. The EP logic is more robust and will delete pending orders should it hit an EP stop. Now, we don't ever want to hit EP stops but EP is designed to protect our account to trade another day. I've made $50 back on my other Blessing pairs already since this incident so no big deal!
Happy Trading
v/r
Ecn
All,
Blessing works on an ECN. It's up to you to understand how your ECN provider works. Most ECNs will only allow you to start at .1 lots and then go up from there (.1, .11, .12, etc..). But you do the math.
That means, to safely trade Blessing on an ECN, you would need $25,000/pair to trade. That's the facts of life.
v/r
All,
Blessing works on an ECN. It's up to you to understand how your ECN provider works. Most ECNs will only allow you to start at .1 lots and then go up from there (.1, .11, .12, etc..). But you do the math.
That means, to safely trade Blessing on an ECN, you would need $25,000/pair to trade. That's the facts of life.
v/rTHANKS Iron
i hope you'll recover quickly this little loss
What ECN did you test with blessing ea ? do you recommend any ?