RIP Death of a Demo Account.

[Grimly Fiendish]

Well its been an eventful month.

Opened a demo account and started using the default settings. I now know the full lots on a $5000 account is a little over leveraged. Fortunately FAP hit 73 straight wins over the first 10 days. Rapidly running the account up to $12,600.

Over the middle ten days of the month, I was experimenting with currency pairs and multiple trades. During this time the acount was ranging between about $10000 and $13,000. I manually closed a coupke of trades where FAP had gotten on the wrong side of a big move. Buying the GBP @$1.72 :eek: for instance.

In the last 10 days I began to settle on a set up wanted to try out, Trading on the eur/usd & gbp/usd, 2 positions per pair, 0.3 lots per trade, 400 pip stoploss. I then wound it up and let it go. All went well for the first 2 days with the account peaking at $13,400. This was just before all the wheels came off with the huge volatility just at the end of the month.
Finished the month on the standard monthly FAP closures with the pricely sum of $8.74 remaining in the account. Ouch! :rolleyes:

Any one else get caught out on the wrong side? Any thoughts or sage words of wisdom always appreciated.

Now all I have to do is get my demo account reset :D

"Lets becareful out there people!"

Good luck in Nov.

G-F

[Earl]

Well its been an eventful month.

Opened a demo account and started using the default settings. I now know the full lots on a $5000 account is a little over leveraged. Fortunately FAP hit 73 straight wins over the first 10 days. Rapidly running the account up to $12,600.

Over the middle ten days of the month, I was experimenting with currency pairs and multiple trades. During this time the acount was ranging between about $10000 and $13,000. I manually closed a coupke of trades where FAP had gotten on the wrong side of a big move. Buying the GBP @$1.72 :eek: for instance.

In the last 10 days I began to settle on a set up wanted to try out, Trading on the eur/usd & gbp/usd, 2 positions per pair, 0.3 lots per trade, 400 pip stoploss. I then wound it up and let it go. All went well for the first 2 days with the account peaking at $13,400. This was just before all the wheels came off with the huge volatility just at the end of the month.
Finished the month on the standard monthly FAP closures with the pricely sum of $8.74 remaining in the account. Ouch! :rolleyes:

Any one else get caught out on the wrong side? Any thoughts or sage words of wisdom always appreciated.

Now all I have to do is get my demo account reset :D

"Lets becareful out there people!"

Good luck in Nov.

G-F
wow OMG!!!!:eek:

default setting are dangerous...LOL

[n1ghtnday]

wow OMG!!!!:eek:

default setting are dangerous...LOL

Yeah, I haven't found decent results with the default settings either. You just have to keep trying different combinations of settings ran through multiple backtests in order to find something stable.

-nnd

[Earl]

Yeah, I haven't found decent results with the default settings either. You just have to keep trying different combinations of settings ran through multiple backtests in order to find something stable.

-nnd
most things seem stable for today...but who knows about tomorrow.

I'm hope I'm on the right track...

Honestly whatever settings I put up are settings that I use...
at first I didn't want to share any of my work..but I can see we are all struggling...and I've gotten some great input which I couldn't have done with out.

Thanks gang I hope something works out for everyone!

[alan]

wow OMG!!!!:eek:

default setting are dangerous...LOL

Not really. People who can't tell if they're running on a mini or a standard account are dangerous :p The default settings are intended for a mini account. I'm not to sure if the manual makes it clear that if you run on small standard account you should change the lot size to something smaller than 1.

[Grimly Fiendish]

Yes on a standard $5000 demo 1 is way to heavy. Got some stunning results with it in those first 70 tho'.

Thanks to the guidance here a adjusted to something more sensible. At least I thought so anyways, as it turns out even a nano lot would have made some pretty big dents in the acount.

I agree Earl you can back test as much as you like, you can tweak, tinker and refine the set up to you back test works a treat with a max. 0.5% drawdown or somesuch. Then you go live and the market does the wierd stuff that the market does, and your account blows up anyway. (you only gotta look at "9 yrs and no losses" guaranteed winning program then oops whats this a first loss with in a week of release to see it it).

Right, demo account reset. Time for some more head scratching and more back testing :)

G-F

[Pavarotti]

Not really. People who can't tell if they're running on a mini or a standard account are dangerous :p The default settings are intended for a mini account. I'm not to sure if the manual makes it clear that if you run on small standard account you should change the lot size to something smaller than 1.

The only info I have is this:

If you are using a small deposit under $2,000 USD, then set Lots = 0.1. If you have a large deposit over $10K, then set Lots = 1.


The manual better used for toilet paper as far as I am concerned

[Alfonzo]

Yep agreed, if the demo account's set to $5000 the default lots should be set to suit. Not sure if its set that way so that the winnings look extremely impressive, or am I just being cynical :rolleyes:

I think FAPS shows plenty of potential but, as you say, the manual's no use whatsoever! I still can't get the backtest to work :(

[Earl]

Not really. People who can't tell if they're running on a mini or a standard account are dangerous :p The default settings are intended for a mini account. I'm not to sure if the manual makes it clear that if you run on small standard account you should change the lot size to something smaller than 1.ok once they have that figured out then what?????the default settings don't give enough return..

honestly you get 30 GREAT! trades but 2 or 3 the kill the whole account.

The wrongest thing anyone can do is stick to the default settings it's an accident waiting to run over your account.

why to you think they sell faps winners????? just stop and really thing! why do they sell faps winners???

do you still trust in anything the manual says????


wake up people...change the damn setting

[alan]

Yes on a standard $5000 demo 1 is way to heavy. Got some stunning results with it in those first 70 tho'.

Thanks to the guidance here a adjusted to something more sensible. At least I thought so anyways, as it turns out even a nano lot would have made some pretty big dents in the acount.

I agree Earl you can back test as much as you like, you can tweak, tinker and refine the set up to you back test works a treat with a max. 0.5% drawdown or somesuch. Then you go live and the market does the wierd stuff that the market does, and your account blows up anyway. (you only gotta look at "9 yrs and no losses" guaranteed winning program then oops whats this a first loss with in a week of release to see it it).

Right, demo account reset. Time for some more head scratching and more back testing :)

G-F

hahahah..yeah I know what "program" your referring to. I have it running still on a demo account.

But anyways, yes you guys gotta understand that no automated system will be able to magically predict the forex market. The best you can hope for in an automated system is that the size and/or number of winning trades outnumber the losing ones which in the end = profit.

[newman]

Since this EA performs 95% winning trades, why not just manage the losing trades using SL. I emphasize no SL = suicide especially you're not at the PC 24 x 7.

If you're newbie and have spent on this EA, sadly, this EA is not for you. Don't spend your time on these settings, none work. It will blow your account.