leo23's Posts - Page 10

Do you use MT4 or MT5? in General Oct 21, 2022 at 14:35

Well, I have tried both MT4 and MT5 thoroughly for last 5 to 6 years and so I can give a much better explanation about advantages and disadvantages.Originally, obviously I started with MT4 only and I still continue and prefer to use MT4 over MT5 after using for 15 years or more. The primary reason for choosing MT5 over MT4 was because it has many inbuild libraries and functions which are useful for machine learning algos and it has better options for training, optimization, testing, has multiple timeframes etc. Also, MT5 is better to connect with external platforms and you can hire sever resou...

Is there really a profitable retail traders or lairs? in New Traders Oct 21, 2022 at 14:10

I will not call forex as gambling from my point of view, but it might be called as gambling based on understanding of forex market by the regular retail traders. Forex is a business and so who understands it as business may make profit sometimes, but who understands it as a job will ultimately keep expecting for ever to make some money monthly basis and continue his loosing cycle month after month and year after year.So understanding the forex market behavior is very important to make profit sometimes and not like the retail traders expecting 100% per month or 1000% per month etc for ever. Har...

AGI EA_REAL Account_Instaforex in Trading Systems Oct 21, 2022 at 13:45

Due to some reason our DEMO account is not placing any trades since last coupe of days, but the this LIVE account is placing a couple of trades once in a while. It may be due to very low volatile markets or due to some other reason. We will continue to monitor the accounts to see if we can figure out the reasons if possible.

Is there really a profitable retail traders or lairs? in New Traders Oct 21, 2022 at 07:52

The honest and clear answer is NO. You can't depend on anyone or even any system, EA or MAM/PAMM or signal service etc to make a passive monthly income as usually it is advertised by the forex brokers or service providers.All such systems or services ultimately make money for the system developer or service providers while wiping out the balance of the retail trader now or later. This is the hard truth and many traders may disagree on this point, but I am saying this after more than 15 years of trading experience with unlimited trials and errors with unlimited highly sophisticated automate...

AGI EA_REAL Account_Instaforex in Trading Systems Oct 20, 2022 at 08:37

As expected this REAL Account is performing better than our main DEMO account performance recently.Probably, due to the past losses the EA is taking only highly accurate trades in the DEMO account. Even though we are the developer of this algo, but still it is a black box for us also since it is almost impossible to know why it is doing for what it is doing for an 'Artificial Intelligence(AI) ' algo. The same is true for almost all AI and machine learning algos in any field. We will continue to monitor the results and may publish new REAL accounts if we will find them profitable and st...

Artificial General Intelligence V.7.0 in Trading Systems Oct 20, 2022 at 08:29

As expected our REAL Account is performing better than this DEMO account performance recently. We got very few trades recently in last few days in the Instaforex REAL account where as in this DEMO account we didn't get any trading opportunity at all.Probably, due to the past losses the EA is taking only highly accurate trades in this account. Even though we are the developer of this algo, but still it is a black box for us also since it is almost impossible to know why it is doing for what it is doing for an "Artificial Intelligence(AI) " algo. The same is true for almost all AI...

scalping easy ? in New Traders Oct 20, 2022 at 07:36

Scalping can be highly profitable if you have the right knowledge and tools to use in your advantage against the forex market. Also, scalping can be boring sometimes if you are trading actively and you can't trade all the time when there is no market volatility is to even recover the spread also. If you trade, then you will most likely end up in losses.Also, while using scalping you need to patient sometimes since one loss might wipe out a large chunk of profits and so you need to avoid aggressive trading to recover losses quickly. The account might hold in break even without much profits...

How much do you earn on forex investments? (Investors only) in New Traders Oct 19, 2022 at 12:17

I can say that 5% per month is okay and good if it can be achieved long term without high drawdowns. Because 5% per month means around 60% per year which usually even the top hedge funds of the world like BlackRock and Renaissance struggle to achieve all the time.So if anyone can make more than 5% per month consistently for 2 to 3 years with low drawdowns, then he can open hedge fund and compete with the top hedge funds of the world in no time:))It's very much common sense to understand and so please do some search before investing in false promises since most of the newly established for...

AGI EA_REAL Account_Instaforex in Trading Systems Oct 18, 2022 at 13:31

We didn't expect our robot's REAL account performance to be anywhere close to our DEMO account performance. But it seems like the REAL account performance in some broker accounts is more than this DEMO Account performance. This active REAL Account has been made public in our myxbook profile and we may publish multiple forex broker REAL accounts soon.The forex robot uses an inbuild AI logic in the code and so it is nearly impossible to know how it makes trading decisions in each broker independently. So we will continue to test the robot in multiple brokers REAL accounts to see if it ca...

Artificial General Intelligence V.7.0 in Trading Systems Oct 18, 2022 at 13:30

We didn't expect our robot's REAL account performance to be anywhere close to our DEMO account performance. But it seems like the REAL account performance in some broker accounts is more than this DEMO Account performance. One active REAL Account has been made public in our myxbook profile and we may publish multiple forex broker REAL accounts soon.The forex robot uses an inbuild AI logic in the code and so it is nearly impossible to know how it makes trading decisions in each broker independently. So we will continue to test the robot in multiple brokers REAL accounts to see if it can...

Looking for reliable ECN brokers... in General Oct 18, 2022 at 13:26

Yes, choosing the correct broker is the most important thing to be successful in forex.I have seen some good brokers for last 10 to 12 years in the field of forex surviving till now. Brokers like IC Markets, Pepperstone, Axitrader, FxChoice, Hotforex, Instaforex seems to be here in forex for many years for now. But I was not active with any of these brokers recently and so I can't say their conditions for now. Each trader needs to carefully analyze each broker before making any large deposits.Also, it is always better to avoid new brokers irrespective of how lucrative their offers or bon...

Artificial General Intelligence V.7.0 in Trading Systems Oct 18, 2022 at 13:23

We didn't expect our robot's REAL account performance to be anywhere close to our DEMO account performance. But it seems like the REAL account performance in some broker accounts is more than this DEMO Account performance. One active REAL Account has been made public in our myxbook profile and we may publish more forex broker REAL accounts soon.

Artificial General Intelligence V.7.0 in Trading Systems Oct 15, 2022 at 01:38

Last week, Our algo has recovered most of the losses which our account faced in last 1 to 2 years in terms of "Gain %". We are also trying to put the private link here for a REAL Account performance, but the link is not appearing here and so anyone interested in our forex robot and wants to have a temporary access to the REAL Account can contact our support email "[email protected]"

AGI EA_REAL Account_Instaforex in Trading Systems Oct 15, 2022 at 01:31

This is a test REAL Account to test the performance of the least version of our forex robot "Artificial General Intelligence" in a REAL Account.If anyone is interested to buy a copy of the forex robot or interested to join our fund management services, then please contact our support email "[email protected]"Contact email: [email protected]

Artificial General Intelligence V.7.0 in Trading Systems Oct 15, 2022 at 01:24

Temporary private link to a REAL account performance for the latest version of our forex robot:https://www.myfxbook.com/members/leo23/agi-ea-real-account-instaforex/9784312/DwaWUwF7wvuv6R4M5AVCWe are testing with multiple real accounts of same broker as well as multiple brokers to see how much the performance is varying from account to account and we may publish more REAL accounts in near future.

Why are some traders successful? in General Oct 14, 2022 at 13:08

Those traders are successful in forex who understand the meaning of "Success" in forex trading. Successful traders have a clear understanding about forex markets and they have realistic profit targets or goals in long run along with a well tested trading strategy for last 5 to 10 years.Those traders who have unrealistic goals, they might chase behind success for their life time without success where as successful traders can't loose even if they try to loose money in forex since they are well trained to be successful based on their past trading experience. That can be the scale t...

Trading the cryptocurrencies Bitcoin,Etherium, Litecoin etc.... in Crypto Oct 14, 2022 at 07:40

I am so happy to see how far crypto has progressed so far in last 5 years. I created this thread 5 years back and probably it was the first myfxbook thread about crypto currency trading when most traders didn't believe or didn't know or didn't agree about crypto. Now, the situations have completely changed and many companies as well as countries have started accepting crypto as payment method. Dominica has made crypto as legal tender. Also, myfxbook has separate crypto tab for discussion.Of course, I did some wild price predictions like BTC to reach 200K or 1 Million USD per BTC ...

Artificial General Intelligence V.7.0 in Trading Systems Oct 13, 2022 at 15:39

We have just added one REAL Account yesterday for testing our EA and one day results are quite good. Soon we may make it public after sufficient trading history is generated. Also, we may start testing our EA in multiple broker REAL Accounts in near future.Now, the account is available only for temporary private access to interested traders. If you are interested to view REAL Account results, then you can contact our support email '[email protected]'

scalping easy ? in New Traders Oct 13, 2022 at 12:06

Actually, forex market itself doesn't care about terminology usually used by typical traders like scalping, day trading, swing trading, high frequency trading etc. Forex market doesn't follow the trader, but the trader needs to adjust his strategy based on change of forex market conditions to maintain his trading performance while sticking into some basic principles of forex trading and his tested trading strategy to continue to make profit and limit the losses while keeping the learning process on.For example, there are strategies which will place 3 to 4 trades per week or sometimes ...

scalping easy ? in New Traders Oct 12, 2022 at 14:31

To make profit using scalping 3 important things need to be put in place:1.Tight Spread: The broker Mt4 account which you are using must be having very tight spread including commissions. Otherwise, spreads will eat all profits.2.Limited trading time per day: In stead of being greedy, it is important for the trader to fix his trading time either during London session or NewYork session and irrespective of profits or losses, he needs to avoid trading for the rest of the day. Just trade for a few hours every day for scalping and exit after that time period.3.Semi-Automated trading system: Even ...

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Posts by leo23