i just wanted to make a quick update to my posting below, i have reset the has mtf bot as per Don's recommendations. fewer trades now, but much much lower DD!!!!!! right now it is running at 2% DD the highest this month (first 3 weeks is 15%) i started with the new settings on the 14th of Sept and am up 0ver 20% on a $8k 'live' account. yes a live account not interested in making fake money.
i also am using the fractal breakout, have made approx $20k in the last month since doing all the webinars with don.
i will make this as clear as possible, i now am living exclusively on the proceeds of my trading, it took a lot of trail and error to get to this point, but i am confident now of the system and i love it! i know that some people have had bad results, with both the systems i am using, but all i can say about that is they are probably tweaking the has mtf and making it perform worse. my settings are out of the box except for the exit on take profit setting which i have set to 4 instead of 5, i find that this sometimes gives bigger wins when a currency is running strongly.
if you are not getting good results with the fractal breakout, it is simply because you do not know how to use it! it is a system that requires you to make decisions, it is not mechanical! it takes practice to get good at it, so if you are not confident with this sort of system then just use the robots!
if you are willing to take the time to learn how to use it then you are going to find a way to make your living from Forex!
Don, thanks, i still have a ways to go with perfecting my use of your indicator, but i have faith in the system itself, and am so grateful to you for helping reclaim my life!
right now i am in argentina, i am holidaying for the first time in twelve months, i have made more money trading (mostly with the has mtf, but i have made a few trades using my iphone and remote desktop to my VPS, than i have spent on this trip!
i am going to head home to Oz in a week or so, sell my restaurant, take some of the proceeds to increase my has mtf account to 50k next month and some i am buying a cabana in the mountains in argentina with, i will also buy a block of land in front of my favourite wave in panama and live between these two places! the remainder i will invest in shares and i will continue to trade with the fractal indicator and invest the monthly proceeds!
i have been working on a new business that provides travel info and that is what i will be doing for 6 months of each year now, travelling and writing, the rest of the time i will spend in one or the other of my houses!
i guess what i want to say is thanks to you i am heading directly towards my ideal life because of you Don, so thanks mate, you are a gem!
i am trading it live and on a demo account, it has added 120% (about 90% when you subtract open negative trades) to my balance this month on the live account and added aprox net 30% to my demo account (i think i know the reason for the difference, i tinkered a lot with the demo account).
it works! the only thing that sux about it is the heavy draw down and sometimes it is very heavy! the first couple weeks of trading it can be quite scary.
the draw down seems to be worst at the beginning of the week and best towards the end! this also applies to the month time frame as well.
set 2 trades can get really stuck probably better to close them out manually if they are running for too long, i have had trades take 10 days to recover from a big news break, the developer has told me he had one trade stay open for 2 years, still managed to make money on the positive swap!
ok now i am not joking when i say this! no negative trades by the bot! i have closed out a couple myself only to watch them come around a day or two later!
i am also running the Directional bot in the same account now, picks up the trades the hedge bot misses, can show huge open profits then sink back to a modest gain, if it doesn't quite hit the TP, i will vary the settings next week as per recommended by Don! i plan to put his equity bot on this account too, as a back stop in case something goes wrong, it only monitors the balance not the trades. i am thinking to set it about 50% behind as this will ensure that my original investment will then be safe, yet i have the benefit of continuing to trade with it which i couldn't do if i just took it out!
i am trading each bot across 10 pairs (only 4 so far with the directional bot, just adding one more pair each 4-8 days so that i can slowly see the effect on drawn down), with no trade more than 0.5% of the Equity, this will mean no more that 10% in the market at any time, i am sure spreading out this way reduces risk, an even smaller % would make it safer again.
of course the draw down will scare the S#@T out of you if you go too hard too fast! The nature of these bots is to open on a counter trend, sometimes they can go deep before they turn! i have had a 75% draw down at times! ( when the account was still very small) Yes! and it is often around 35%, so be prepared to feel worried sometimes! But with no negative trades, they almost all come around. if they don't they just stay open!
Again, reducing the traded percentage will reduce the drawdown, and profits, just figure out what your comfortable with
to avoid real panics like i had start with min $1000 on a live account use 1-3 pairs max!!!(pref no crosses, you want have the all go the same direction then) let it trade out of the draw down and then add another, stick to his recommended risk levels or better still under them. if you are conservative you will make really good money,
i am making great money!
i am sure that my results this month are higher than what will be the norm for this bot. i am told to expect an average of 23% per month, if i do get that i will be a very very happy camper.
i am happy with this system. it goes short and long, scalp trades and trend trades, it will soon have a built in safety covering the whole deposit, i believe my own eyes, if you want to know more the PM and we can talk on skype.
i think the crap that some people in this market are peddling is disgraceful, they are simply preying on peoples greed and fears, i feel very lucky to have a system that is working for me and i am happy to help anyone else that wants some advise, i am no expert, forex is relatively new to me, but i have been around the stock market for 20 years and traded many an option very successfully, i can see the similarities!
this system doesn't keep me awake and it makes me money, sometimes crazy amounts (i have had 30% gain days)
I wrote this cause i wanted to share my experience, if you don't believe any of this fine! i really don't care! If you want to know more, then i am happy to share what i know and my set up! just contact me
safe trading, Eric
Last edited by ecka62; 10-06-2009 at 14:40. Reason: update
Rioter. Could you please Saher the EA you are using?
do you use default setting for all pairs on dragonpips?23-1?
can we have a poll to show which expert advisor is used by our memeber and also the favourite ea of all. there are loat of thread but we are not sure which one is a realiable one. at least with the poll we can guide ourself in deciding the ea to be use.
Everybody is going to have their own opinion on the best ea tilong77 plus their own agendas as to why they say they are the best.
I found my favorite ea by researching results, then buying and demoing (clickbank products only of course). If results were no good then I just requested my refund and moved on.
Just my humble opinion.