Earl fap update! - Page 14

mystikdragon7 · #**131** 03-01-2009, 09:44 PM

Quote:

Originally Posted by spacewalkertoo

I just finished reading the settings and backtest thread. As a newbie to Forex and FAP, I thank you and the other posters for the wealth of knowledge you lay on the table.
I have a background in trading penny and bankrupt stocks. I think that Forex is well suited for my speculative nature.
Since I am used to watching charts, I have found myself screaming at the monitor not to take a double top buy or a double bottom sell. Earl, if your TP=200, TS=15 fixes that one issue it will address one of the biggest issues I have seen during 3 weeks of demo accounts.
Thanks again.

Glad to hear this forum has helped you out!! Drop me a PM when you get the chance because I would like to pick your brain at penny stocks.

jhansen · #**132** 03-24-2009, 04:23 AM

Hi Earl
There may be an obvious answer to this question - but would it not be a good idea to have a setting for StopLoss other than 0? - so If things go against you, you can still bailout - or the robot will bailout for you... Is there a problem with having both a TS and SL on the same chart with FAP?
I enjoy reading your posts btw - keep up the good work;-)
Thanks!
Jacob

rockie88 · #**133** 05-09-2009, 01:58 PM

Hi Guys, i just want your opinion on my setting coz im just a newbee also
my setting is just almost the default but i just change the lot to 0.5 and tp of 15 and i find this settings on backtesting work great.

i only have ID=200 and backtest it from May1 to May9 2009 looks promising from 200 goes up to 405 in just a week

i tried also Earl Settings it give me some profit but minimal ofcourse it a minimal risk also. form 200 to 227

i wanna ask for your best opinion coz i gonna use this in my live acc.
i test it in ID200 coz thats what im thinking for openning.

with this amount of ID can i play it in two diff. pairs of currency and what can you suggest about my lotsize?

Also i wanna ask about this go short only when trend is going down and go long when it up?

how do you deside when to close the autopilot trades if its almost -70 pips and hoping it will come back.

TIA

^eagle^ · #**134** 05-09-2009, 03:20 PM

Your lot size is too large. You wont last when the draw down happens.

What I do is use the LRR=1 and lotsize =zero. Then I allow five trades at a time to open with a stop time =thirty. This will allow you to ride drawdowns and wait for the market to come back. At the same time you can continue to make pips. Then just let it close out at the end of the month. Some months will be bad but some will be good.

This system will no longer work with certain brokers after may 15th due to the new NFA rules. I am testing this with my broker because they said it will not affect them. I will keep everyone posted about this

rockie88 · #**135** 05-10-2009, 02:41 AM

thank you very much eagle i will follow ur advice, im just a little bit worried rightnow coz im -77pips at gbpusd short at lot 0.05 i was thinking to close this coz i only have 216 balance this will resume on monday according to forex advisers if it goes up to 1.5270 it will continue to. go up.by that time i will have another -37 pips neg and i dont think my money can still fight against it. so i was kinda praying for a chance. anyway i started at 700 usd then it kicks up to 2000 usd but now im left with 215 usd. right now im fighting for my mental equity.that time i was using .10 lot kinda lucky but goes bad this time. i just dont estimate the equity now im learning from it. and im thankfull to be a part of this forum. thanks EAGLE

^eagle^ · #**136** 05-10-2009, 08:53 AM

Quote:

Originally Posted by rockie88

thank you very much eagle i will follow ur advice, im just a little bit worried rightnow coz im -77pips at gbpusd short at lot 0.05 i was thinking to close this coz i only have 216 balance this will resume on monday according to forex advisers if it goes up to 1.5270 it will continue to. go up.by that time i will have another -37 pips neg and i dont think my money can still fight against it. so i was kinda praying for a chance. anyway i started at 700 usd then it kicks up to 2000 usd but now im left with 215 usd. right now im fighting for my mental equity.that time i was using .10 lot kinda lucky but goes bad this time. i just dont estimate the equity now im learning from it. and im thankfull to be a part of this forum. thanks EAGLE

http://forexautopilotforum.com/showthread.php?t=449

This is the thread where I shared my experience with FAP..

Be forewarned that this method experiences upwards of 30% drawdown and you will have bad months. When the market trends heavily in one direction it is best to trade in that direction only. and catch reversals quickly.

rockie88 · #**137** 05-10-2009, 12:20 PM

thanks I will follow your Lead