FxMasterGuru's Posts - Page 22

TWICE IN AS MANY WEEKS SMALL TRADERS ARE MOCKED BY THE BANKS in General Oct 29, 2016 at 00:48

Interesting approach, resembling to an experiment published in Forbes Magazine, which kind of validates the above:http://www.forbes.com/sites/rickferri/2012/12/20/any-monkey-can-beat-the-market/#4fc6ed7d6e8b

RoboSniper 2x (High) Risk ICM ECN in Trading Systems Oct 28, 2016 at 16:22

Any decent broker should be fine. As with any other scalper strategy, slippage can harm performance significantly. My newest broker is the FCA regulated and FSCS insured London based pure ECN/STP VARIASNE broker with practically no slippage, but with slightly larger spreads. This new Varianse account can be found under my profile as RoboSniper 0.5x risk.

I AM PLANNING TO DIE IN FOREX in New Traders Oct 28, 2016 at 11:35

Yes, it should be taken seriously, but not TOO seriously.A good friend of mine had decided to become a full time trader by giving up her daytime job (economist) trading 12+ hours every day and accumulating 10,000+ hours of screen time. Over a 6 years period she had lived up and lost all her savings and accumulated significant personal loans which she had also lost. Eventually she committed suicide.So one should never invest more funds and time in trading than he/she can afford (and willing) to lose - if necessary - on the way to success.

RoboSniper 1x Risk Standard in Trading Systems Oct 28, 2016 at 10:57

Just to clarify again for those who want to know with certainty: This is NOT Nikolay Razgula's ""ForexBank EA"" strategy, and it is based on price action, not "hedge correlation".The initial name identity was a coincidence, which is why this one it is called ""RoboSniper"" now.P.S. For those who want to see the performance and Trade History of ForexBank EA and compare with this one, I have looked up an account on MyFxBook running ForexBank EA. Here it is: http://www.myfxbook.com/members/pomauto/forexbankea/1762348

RoboSniper 1x Risk Standard in Trading Systems Oct 27, 2016 at 22:34

I am glad that you could use the entry points with even more profit. Congratulations!I keep Open Trades visible and let MyFxBook refresh Open Trades every 5 minutes (instead of every hour), so fellow traders could get some ideas for themselves. Transparency is a ""byproduct"" as I do not solicit investors; I have enough reserve funds myself to become my own investor should the strategy prove itself on the long run.

RoboSniper 1x Risk Standard in Trading Systems Oct 27, 2016 at 22:22

Yes, correct. Thank you for the clarification.

Luis Penaloza FB-Inc(ALP) in Trading Systems Oct 27, 2016 at 18:04

I am sure they are "highly regulated" on the Marshall Islands... From a beach bar... 😀For now I will stick with FCA and ASIC regulated brokers...

Luis Penaloza FB-Inc(ALP) in Trading Systems Oct 27, 2016 at 18:00

I don't think that a "Republic of the Marshall Islands" registered broker would refuse non US clients.My concern would be how a broker is regulated on the Marshall Islands... especially after being robbed by a New Zealand registered and ""regulated"" broker, whose owner has taken off with $500k+ "segregated clients funds"...How the New Zealand authorities reacted...? They simply deregistered the broker and after the broker was ""unregistered"", they have simply declined all responsibility or involvement... ""Smart"&...

Luis Penaloza FB-Inc(ALP) in Trading Systems Oct 27, 2016 at 17:45

I wish you did not use GRID and MARTINGALE elements. Using GRIDS with increasing lot sizes - while the market is moving against each trade - is a "time bomb".I would not get into my other concerns about DEMO accounts running at "no name" OFFSHORE brokers...

RoboSniper 1x Risk Standard in Trading Systems Oct 27, 2016 at 17:21

Thanks, Tomas! Your comments are appreciated.The EA makes enough profits (in %) for me and I have the necessary additional financial background from my daytime job to boost my accounts' funding in a stepwise fashion until I can join your "Club" and leave my daytime job behind.The ONLY reason I have not kept my accounts private (although I was seriously considering it) is to demonstrate that the markets still have some inefficiencies which can be harvested by a systematic and disciplined approach.

RoboSniper 1x Risk Standard in Trading Systems Oct 27, 2016 at 17:08

The EA trades only 3 hours a day, during the last 3 hours before Tokyo Open - i.e. during the PRE-ASIAN session - when ALL markets are closed.In 5+ years of backtests the EA had a pretty stable performance on all tested 9 pairs, and I would be hesitant to argue with the results by turning the EA off based on my subjective observation of each market (ranging or trending) on a daily basis. What I really like about it is the "Set and Forget" option.

RoboSniper 1x Risk Standard in Trading Systems Oct 27, 2016 at 15:40

Someone has informed me that there used to be a commercial strategy on MyFxBook called "ForexBank EA". My live accounts have no relationship to that EA, whatsoever,. I have never even heard of that EA before, and it was simply a coincidence.So, to avoid potential confusions and misunderstandings I decided to change the MyFxBook name of my live ACCOUNTS to RoboSniper.

I AM PLANNING TO DIE IN FOREX in New Traders Oct 27, 2016 at 06:33

You are not alone... When I observe an EA in action on my live account, I often feel the urge to close some trades. So it is better to walk away (or sleep) and let the EA do its job...

RoboSniper 1x Risk Standard in Trading Systems Oct 27, 2016 at 05:12

Thanks, Ozzie! Appreciated. 😄Actually the results look even better than expected. At least for now. Based on the backtests some "less favorable" periods might come sooner or later.

RoboSniper in Trading Systems Oct 26, 2016 at 15:58

PM has been sent.

I AM PLANNING TO DIE IN FOREX in New Traders Oct 26, 2016 at 15:43

It is wise that you trade with an EA, as you have already eliminated one of the greatest enemies of successful tradiing: GREED and FEAR.One more advise: Please never interfere with your EA's actions if you happen to watch your EA working live. It is a major temptation which should be avoided, Luckily my EA works at night (in my local time), so I sleep through the potential "excitments" (i.e. greed and fear) and I just wake up to analyze the results and make "cool-headed" adjustments, if needed.

Intraday Trading is gambling in New Traders Oct 26, 2016 at 15:35

Good point, Ben! And of course, good approach, Tomas (@togr)!

I AM PLANNING TO DIE IN FOREX in New Traders Oct 26, 2016 at 12:28

I trade only the last 3 hours before the Tokyo Open (i.e. the pre-Asian session) with a proprietary, price-action based scalping algorithm, which "algo" has eventually become an EA. So eventually I can sleep while my account is trading, and emotions are out of the way. Completely.During those 3 hours ALL markets are closed, so no significant price movements, incl. "black swan" market events are expected (but of course, anything can happen at any time).If conditions are "right" (concluded from the price movements of the previous 12 hours) the EA sells on highs and ...

Safe Fx Investments in Trading Systems Oct 26, 2016 at 01:25

+4% average monthly profit with -23% max. DD... It is OK, but I just wonder why it is called "Safe Fx"...I would call it "safe" only if the average Monthly Profit was higher than the max. DD, or at least the DD did not exceed the average monthly profit value. In other words the Calmar Ratio should be 12 or higher.Just my 2 cents...

I AM PLANNING TO DIE IN FOREX in New Traders Oct 26, 2016 at 01:09

I suggest algorithmic/automated trading as emotions will ALWAYS come into play - and in the wrong way - when the stakes are high.That is why there are so many books about trading psychology. Of course, they don't help much because remaining "cool" and "unemotional" (i.e. without greed and fear) in high stake trading situations requires special psychological setup which is deeply rooted in one's emotional relationship with money.A trader either has it or does not have it, and he/she will know it for sure only when his/her account size reaches the "high stake&quo...

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