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Thread: Forex Shocker

  1. #11

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    I guess it really depends on how the EA trades. If it scalps (as I assume it does), then it goes withotu saying, having a good broker that allows it and has low spreads to boot will be a must. It's not so bad when scalping the EURUSD as most brokers have low spreads on it... but when you start talking about the likes of the EURCHF, and USDCAD scalping, then low spreads are a must. I can't think of a good broker for scalping, but I hear that Alpari, and perhaps FXCM could be worthwhile. FXDD is not good for scalping at all, spreads are too high and are variable - you're better off trading directionally with them.
    ...and then there are all the bucket shops. From what I hear, and if you google around the net FXOpen has earned the rep of bucket shop. As soon as you're doing too well - somethign bad happens.

    For sure, an EA that is there for the long-haul is the goal. We mainly want trading bots that can handle and adjust to market conditions - which is why I'm impressed with the FXShocker's backtests. Not only does it survive on it, but it thrives on it. You can pretty much optimize any free EA to survive 10 years in the market, but it won't be very profitable over those 10 years... so to have one that can not only survive but hit millions from a small deposit is certainly closing in on holy-grail status. The only question is, did they optimize the bot to simply survive the 10 years? you never know how it will survive the next 10.....

    For sure, you're right about withdrawing your initial deposit as soon as possible. Need to trade for free in case the worst happens and the account blows up.

    In any case, if I were to get this EA, I would only deposit $1000 on a live mini account and then just let the EA run all the way with it. If it can make 13 million in ten years on one pair. 1 million from a $1000 start up should be good enough over the long haul

  2. #12

    Arrow

    Understood, and I agree with your view completely. To tell the truth I am a relative newbie but in the last 6 months working around the clock I must have covered at least 6yrs. So I might not understand the EA's mechanism, back testing and forward like you.

    But let's see how it goes. I've loaded this EA on all 6 currencies for maximum data feedback. So far I can caution you not to get your hopes up too much because it has shown some rough edges around interesting but potential progress.

    Bear in mind I am saying this after only 3 days of trading in progress. It could be bad timing, a moment of lapse where even the best of EA's will show a hiccup or two before getting up to running start building up profit. I'll post the entire week's html trading list so you can make your own interpretation.

    I want it to succeed real bad
    Peter

  3. #13

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    Hows it been going so far?

  4. #14

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    A bit rough. Has trouble holding onto profit. It wins half dozen time then gives it back in one trade....let's give it more time.

  5. #15

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    Hmm. I noticed some of that from the live accounts they have running. I suppose you are right. More time is required.
    Megadroid has the same personality really. Profitable over the long run, but it has its rough spots. As long as you manage to profit enough to be able to withdraw your initial investment as soon as is possible - who cares how much it loses after that?

    As long as it is long-term profitable!
    Last edited by Neo-Rio; 06-03-2009 at 12:35.

  6. #16
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    Quote Originally Posted by plandy View Post
    A bit rough. Has trouble holding onto profit. It wins half dozen time then gives it back in one trade....let's give it more time.

    no surprise.. look at the name of the EA

    all these EAs are suffering the same problem, there TP:SL ratio is very bad and dangerous in the long run

  7. #17

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    That's a problem with a lot of bots. Lots of small trades, all winners, until one trade comes along that wipes it out entirely!
    You really have to withdraw your money as soon as your account breaks-even. Then it's "Good Luck" and "Bon voyage" as the bots sail into the distance.
    Pray they don't end up like the Titanic!

    If you want a aptly named commercial forex bot, have a look at the reviews for the "Forex Carnage" bot. It really does enact some serious carnage on your account!

  8. #18
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    i got some serious doubts...

  9. #19

    Post Next EA to be called WipeOut?

    If we can only reverse Carnage's logic we'd have a winner

    So in any case, yes, unfortunately there's no shortage or roughs and bumps along the path to profit.

    I wrote an email to them telling them my experience so far which does not exactly measure up to their claim (and which robot does?). To give them credit their support is decent even above average so no complaints there. They gave me an activation number to test run Shocker on Tadawulfx demo. And I'll leave the Shocker running on FxOpen so I can see what if any difference in result.

    No doubt about it, if our account survives to the point we can remove our principle while leaving enough for the robot to survive minimal drawdown would be best.

    Thought to mention there's a big promotion (to end Thursday) by GOMega GBP/GPY EA going at the rate of $2k and they claimed their price was reduced from original 10k price tag. After some research I found a website which documented results week by week. The EA managed to remain in profit but the curve was rougher than a Typhoon's wave. You know..way way down then way way up and up 'n down. Then again maybe that's the way they are supposed to work even the best EA? ...who knows. I suppose the end result what matters if we can only be certain that it ends up


    I'll keep you updated.
    Peter

  10. #20

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    Hello Plandy,

    Very nice info on the gomega xray ea. Would you be kind enough to list the link to where those results you mentioned are?

    Regards,
    Jeff

    Quote Originally Posted by plandy View Post
    If we can only reverse Carnage's logic we'd have a winner

    So in any case, yes, unfortunately there's no shortage or roughs and bumps along the path to profit.

    I wrote an email to them telling them my experience so far which does not exactly measure up to their claim (and which robot does?). To give them credit their support is decent even above average so no complaints there. They gave me an activation number to test run Shocker on Tadawulfx demo. And I'll leave the Shocker running on FxOpen so I can see what if any difference in result.

    No doubt about it, if our account survives to the point we can remove our principle while leaving enough for the robot to survive minimal drawdown would be best.

    Thought to mention there's a big promotion (to end Thursday) by GOMega GBP/GPY EA going at the rate of $2k and they claimed their price was reduced from original 10k price tag. After some research I found a website which documented results week by week. The EA managed to remain in profit but the curve was rougher than a Typhoon's wave. You know..way way down then way way up and up 'n down. Then again maybe that's the way they are supposed to work even the best EA? ...who knows. I suppose the end result what matters if we can only be certain that it ends up


    I'll keep you updated.
    Peter

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