Inca EA (By Equador)
| Gain : | -95.09% |
| Drawdown | 99.50% |
| Pips: | -274.0 |
| Trades | 462 |
| Won: |
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| Lost: |
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| Type: | Demo |
| Leverage: | 1:200 |
| Trading: | Automated |
Inca EA Discussion
May 08, 2010 at 06:03
(edited May 08, 2010 at 06:04)
>Description:
>I bought this EA from Dominic on superfxrobot.com. I hope I can win the contests thanks to it and get my money back.
>LOL
too bad I think even if you win you'll be disqualified since this is lag trading EA which is forbidden by bucketshops like fxdd ...
good luck though ...
but why can't you get your money back with the EA trading a LIVE account ?
>I bought this EA from Dominic on superfxrobot.com. I hope I can win the contests thanks to it and get my money back.
>LOL
too bad I think even if you win you'll be disqualified since this is lag trading EA which is forbidden by bucketshops like fxdd ...
good luck though ...
but why can't you get your money back with the EA trading a LIVE account ?
Member Since Sep 04, 2009
879 posts
May 08, 2010 at 14:12
for the same reason.. this EA gets banned ofcourse on live accounts as well...
Member Since Sep 04, 2009
879 posts
May 08, 2010 at 14:17
IMHO the EA vendor is in alliance with some very questionable broker to attract naive EA buyers, nothing else
May 08, 2010 at 15:06
(edited May 08, 2010 at 15:06)
now I did the homework and found this system ...
https://www.myfxbook.com/members/birt/1k-over-1-billion-less/10962
which made $1.2 billion from $1k in 24 hrs ... that's an extreme example of what this EA does and unless you hide
your 1-2 pip trades I would consider EVERY BROKER to cut you off sooner or later...
Also that's called cheating I believe ... or could be called insider trading since the EA knows the price in advance from a faster broker and that (insider's trading) in some countries is jail time :) ... has anyone thought about that ???
https://www.myfxbook.com/members/birt/1k-over-1-billion-less/10962
which made $1.2 billion from $1k in 24 hrs ... that's an extreme example of what this EA does and unless you hide
your 1-2 pip trades I would consider EVERY BROKER to cut you off sooner or later...
Also that's called cheating I believe ... or could be called insider trading since the EA knows the price in advance from a faster broker and that (insider's trading) in some countries is jail time :) ... has anyone thought about that ???
Member Since Sep 04, 2009
879 posts
May 08, 2010 at 15:15
I dont think the acc owner is aware of the issue, otherwise he wouldnt have bough this EA... wasted money.
These is all discusssed already....😀
These is all discusssed already....😀
Member Since Apr 20, 2010
814 posts
May 10, 2010 at 17:38
Wow.. the prophet of divine winner. At lease it can win in demo. I wish i got research this EA earlier in demo.
Information is Gold when come to organised.
May 10, 2010 at 18:42
You can still win if you want😁. More then 3 weeks to go, everybody has a chance. I want to win too, but am happy I am at the first place now. Never happened to me before in forex to win, even on demo. If I win, I will definitely have the money back an maybe make more on Real account too I hope.😲
forex_trader_2795
Member Since Nov 08, 2009
36 posts
May 10, 2010 at 19:24
if you win you have to make 200 trades before being able to withdraw the money i think
May 10, 2010 at 20:30
Equador posted:
You can still win if you want😁. More then 3 weeks to go, everybody has a chance. I want to win too, but am happy I am at the first place now. Never happened to me before in forex to win, even on demo. If I win, I will definitely have the money back an maybe make more on Real account too I hope.😲
Sorry dude, but winning with a prohibited forex strategy is quite like cheating in games... FXDD should have banned this practice.
You are preventing another good forex trader to achieve one of the price places just by playing with a cheat system. That's not right if you ask me.
Its just my humble opinion.
Good luck.
JC
Mental note: do not abuse.
May 10, 2010 at 21:40
Juan,
If you are right, that I will not be able to use this robot on real account, then just before the end of the contest I will withdraw to give place to another 'rightful' system. For now let me enjoy the 1st place. It makes me really happy. My trading skills are very bad, so now I feel like a forex champion. Probably the first and last time?!😇
If you are right, that I will not be able to use this robot on real account, then just before the end of the contest I will withdraw to give place to another 'rightful' system. For now let me enjoy the 1st place. It makes me really happy. My trading skills are very bad, so now I feel like a forex champion. Probably the first and last time?!😇
May 10, 2010 at 21:48
Equador,
Sorry if i sounded tough, but in simple words yes, this kind of trading 'strategies' are not allowed because it's not trading, it's just taking advantage of price feed lag. Every broker would refuse you to withdraw your gains and send you back home if they found you doing this kind of things on live accounts.
About the 'first place' thing... why is it that important to be in the first place when you in reality don't know how to trade?. I'll go for the 'learning the hard way' rather than playing cheats... Forex is an art if you get to this with passion.
Anyway, it's a matter of each one opinion and targets.
Good luck.
JC
Sorry if i sounded tough, but in simple words yes, this kind of trading 'strategies' are not allowed because it's not trading, it's just taking advantage of price feed lag. Every broker would refuse you to withdraw your gains and send you back home if they found you doing this kind of things on live accounts.
About the 'first place' thing... why is it that important to be in the first place when you in reality don't know how to trade?. I'll go for the 'learning the hard way' rather than playing cheats... Forex is an art if you get to this with passion.
Anyway, it's a matter of each one opinion and targets.
Good luck.
JC
Mental note: do not abuse.
May 10, 2010 at 22:00
Good start then, go on, keep the head up and try to manage the fear and greed and you'll soon be profitable.
But keep your mind clean and focus on your targets.
Playing cheats or with toys that has nothing related to real trading wouldn't make you better at it...
I hope you understand my point...
Have a nice week.
JC
But keep your mind clean and focus on your targets.
Playing cheats or with toys that has nothing related to real trading wouldn't make you better at it...
I hope you understand my point...
Have a nice week.
JC
Mental note: do not abuse.
Member Since Jan 22, 2010
35 posts
May 11, 2010 at 09:48
(edited May 11, 2010 at 09:50)
Juan,
just one think to consider, why do you think the broker will not allow to withdraw him the money? how the broker can know he uses the prices feeds? (even if he knows, if the owner was smart enough he will mix the trades with few other EAs, and vuolla broker has nothing to say, because these are the client's money)
I am also impressed this robot and in case the research I was talking to few well known brokers who allows scalping, and I was asking them that I want to use price arbitrage and use a robot that use feeds to compare prices from different brokers, and they said they do not care, I can use any trading style I want. So make me correct if I am wrong, but give me some decent examples and facts from talking to the broker not from what you are thinking, because it does not matter. The facts are matter, hope you agree?
Let someone who used it on real account speak, because now is only just chatting without any hard arguments 😄
to make it cleare I do not cover neither the owner nor anybody, jus try to figure out the facts, not speculations.
just one think to consider, why do you think the broker will not allow to withdraw him the money? how the broker can know he uses the prices feeds? (even if he knows, if the owner was smart enough he will mix the trades with few other EAs, and vuolla broker has nothing to say, because these are the client's money)
I am also impressed this robot and in case the research I was talking to few well known brokers who allows scalping, and I was asking them that I want to use price arbitrage and use a robot that use feeds to compare prices from different brokers, and they said they do not care, I can use any trading style I want. So make me correct if I am wrong, but give me some decent examples and facts from talking to the broker not from what you are thinking, because it does not matter. The facts are matter, hope you agree?
Let someone who used it on real account speak, because now is only just chatting without any hard arguments 😄
to make it cleare I do not cover neither the owner nor anybody, jus try to figure out the facts, not speculations.
May 11, 2010 at 10:18
Ok,
Here's some reading stuff:
https://www.figfx.com/forex-trading/scalping-policies
https://blogs.wsj.com/marketbeat/2009/03/09/measuring-arbitrage-in-milliseconds/
https://www.goforex.net/forum/showthread.php?t=25&page=2
https://forums.babypips.com/expert-advisors-automated-trading/28528-fx-genius-robot-ea-2.html
I'm maybe missing something... but you got some to read about these 'strategies'...
If you find a broker that allows this kind of practice please don't hesitate in contacting me =)
Again, Market Makers won't let you do this since you are stealing their commission, they will requote you to death if they note that you do this stuff... result: you'll loss money just like in a casino!.
Regards.
JC
Here's some reading stuff:
https://www.figfx.com/forex-trading/scalping-policies
https://blogs.wsj.com/marketbeat/2009/03/09/measuring-arbitrage-in-milliseconds/
https://www.goforex.net/forum/showthread.php?t=25&page=2
https://forums.babypips.com/expert-advisors-automated-trading/28528-fx-genius-robot-ea-2.html
I'm maybe missing something... but you got some to read about these 'strategies'...
If you find a broker that allows this kind of practice please don't hesitate in contacting me =)
Again, Market Makers won't let you do this since you are stealing their commission, they will requote you to death if they note that you do this stuff... result: you'll loss money just like in a casino!.
Regards.
JC
Mental note: do not abuse.
Member Since Jan 22, 2010
35 posts
May 11, 2010 at 10:47
Thanks for the links ;),
the first link is about the particular broker that prohibit it, funny fact is he prohibit also forex shocker, I use it on FXCM and works fine :)
the second link:
'But for larger funds, Mr. Gates said it would be foolish not to engage in latency arbitrage.' so you see that some big firms use that strategy, GS also use latency arbitrage, they have their computers close to NYSE and use system that make over 30 000 trades daily, I bet this system use also this strategy.
so as I see it is not as clear case as is seems to be. I can only imagine that this system is not perfect as it is sold to the public, but from the article you send therefrom that some company use direct feeds to the Stock Exchange, and you will tell me it is ok? I and you do not have that ones. So can we say they cheat us as a regular traders? This game is a war, some use knives some super advanced weapon, and everyone wants to win, but winners are those who use that super weapon, because they earn million of dollars before breakfast 😇 I know some guys from mutual funds that told me about arbitrage strategies they use on stock exchange, again these are much more advanced, but maybe the owner goes in a good direction trying to build an arbitrage strategy, I do not know, we will see what will be the final outlook.
the first link is about the particular broker that prohibit it, funny fact is he prohibit also forex shocker, I use it on FXCM and works fine :)
the second link:
'But for larger funds, Mr. Gates said it would be foolish not to engage in latency arbitrage.' so you see that some big firms use that strategy, GS also use latency arbitrage, they have their computers close to NYSE and use system that make over 30 000 trades daily, I bet this system use also this strategy.
so as I see it is not as clear case as is seems to be. I can only imagine that this system is not perfect as it is sold to the public, but from the article you send therefrom that some company use direct feeds to the Stock Exchange, and you will tell me it is ok? I and you do not have that ones. So can we say they cheat us as a regular traders? This game is a war, some use knives some super advanced weapon, and everyone wants to win, but winners are those who use that super weapon, because they earn million of dollars before breakfast 😇 I know some guys from mutual funds that told me about arbitrage strategies they use on stock exchange, again these are much more advanced, but maybe the owner goes in a good direction trying to build an arbitrage strategy, I do not know, we will see what will be the final outlook.
May 11, 2010 at 11:21
Yes, but did you pay attention to the date of that article? It's from more than a year ago, and there are several intents to avoid this kind of practice, imagine if everyone would do the same? Which market would be this? Even liquidity providers (Large banks) are trying to avoid this by minimum time for an open position. Again, they will requote you to death if they don't like what they see, scalp for 1-2 pips using lag arbitrage is not real trading...
Please, get back to the trading basics and stop going for the easy way.
Speculating on speculation is just as absurd as Peace Nobel price for Obama...
Just my opinion tho...
Regards
JC
Please, get back to the trading basics and stop going for the easy way.
Speculating on speculation is just as absurd as Peace Nobel price for Obama...
Just my opinion tho...
Regards
JC
Mental note: do not abuse.
