Steinitz HAS MTF **Theory & EA**

[nasree]

Originally Posted by watchout4me

Also i'm an international student in UK, my cashflow is not that 'straight' but i manage to buy the EA.

open a Paypal account, use your debit card to fund it and pay for the EA.

sacrifice what you do spend in one weekend, you'll be able to pay for the EA - just £27.

by the way, where are you in UK, what're you studying?

Hi, watchout

I'am study computer science at sheffield univ. Where are studying?

Anyway thanks for your guidance.


Hi..Dave.

What happen to EA and your Demo.

[Dave2]

Hi nasree,

I have no idea all I know is that my demo account is now down over $3000 in the space of 36hrs. Looks like the EA got it wrong. That's all I can conclude.

BTW nasree I attended Sheffield Hallam and then went on to Westminster for my Masters.

[sgr]

Dave,
Did you set any stoploss in your EA? I've tried to search previous thread about this system on other forum too, I found that this system prefer to use mentally stoploss, means no physicall stop loss. The backtest result was not that excellent everytime we try to set stoploss. Maybe Don himself can give us some light regarding to the stoploss strategy.

Originally Posted by Dave2

RE the EA, i have just checked my Demo account and it's down almost $3500. The EA has almost wiped my demo account out. I was hoping i could trust it. I know Don has said it has proved itself but I wonder what valid explanation can be given for this. Is there anyone else experiencing this massive drawdown, if so please comment.

[watchout4me]

Originally Posted by nasree

Hi, watchout

I'am study computer science at sheffield univ. Where are studying?

Anyway thanks for your guidance.


Hi..Dave.

What happen to EA and your Demo.

Economics & business @ Coventry Uni

[steinitz]

Originally Posted by Dave2

Hi nasree,

I have no idea all I know is that my demo account is now down over $3000 in the space of 36hrs. Looks like the EA got it wrong. That's all I can conclude.

BTW nasree I attended Sheffield Hallam and then went on to Westminster for my Masters.

Its is no surprise that most trending based manual or EA's are losing right now. Yes you are right I don't advocate using a stop loss. In all of our testing the results were inferior when using a stop.

We have had tow draw down periods like this in the last 5 weeks and they all came back nicely and profited. This will not be the first or last time we will see DD. It is part of all systems.

Nothing goes straight up or down without corrections that last a while. One member just made 500 pips in his first three days because he doesn't like the volatility with Yen based pairs.

Those pairs are the culprits right now. That being said nest time it could be USD that is the problem. The best advise is to ride the storm and make sure you are not over trading.

Standard = 50000.00 with 1 lot per pair

Mini = 5000.00 with .1 lot per pair

Micro = 500.00 with .01 lot per pair

10-12 pairs

Try to not have too many of the same currencies like USD and JPY.

Don

[gulilikong]

Hey is your EA still available? and do you accept webmoney since it's the only way I can send the payment through you.

[intuitrader.com]

"Did you set any stoploss in your EA? I've tried to search previous thread about this system on other forum too, I found that this system prefer to use mentally stoploss, means no physicall stop loss. The backtest result was not that excellent everytime we try to set stoploss. Maybe Don himself can give us some light regarding to the stoploss strategy."


Trading without stop loss is not profitable in the long run. Mental stop loss usually is not executed in real time specially in volatile markets, characterized by gapping prices. In using mental stop loss, a trader is tempted not to execute the stop los level given the hesitation to cut losess and the hope that the prices will get back to the original position. Thus usually, a trader who use mental stop loss will end up with a bigger loss. The bigger the loss the harder for him to recover such losses.

Therefore it is better to use actual stop loss. Trading success is nothing but a result of DISCIPLINE. Real stop loss fosters such discipline and eventually success.

[bossxero]

Originally Posted by Dave2

Hi nasree,

I have no idea all I know is that my demo account is now down over $3000 in the space of 36hrs. Looks like the EA got it wrong. That's all I can conclude.

BTW nasree I attended Sheffield Hallam and then went on to Westminster for my Masters.

Hi Dave,

I would like to know whats happening on your side with the EA. Is it still taking ur account in a deep plunge or has it manage to emerge somehow with some profits? Please let us know.

Regards

[steinitz]

Originally Posted by intuitrader.com

"Did you set any stoploss in your EA? I've tried to search previous thread about this system on other forum too, I found that this system prefer to use mentally stoploss, means no physicall stop loss. The backtest result was not that excellent everytime we try to set stoploss. Maybe Don himself can give us some light regarding to the stoploss strategy."


Trading without stop loss is not profitable in the long run. Mental stop loss usually is not executed in real time specially in volatile markets, characterized by gapping prices. In using mental stop loss, a trader is tempted not to execute the stop los level given the hesitation to cut losess and the hope that the prices will get back to the original position. Thus usually, a trader who use mental stop loss will end up with a bigger loss. The bigger the loss the harder for him to recover such losses.

Therefore it is better to use actual stop loss. Trading success is nothing but a result of DISCIPLINE. Real stop loss fosters such discipline and eventually success.

The EA uses all sorts of stops:

1. stop loss
2. Breakeven
3. Breakeven plus lock in
4. trailing stop loss

I don't advocate a stop since out research shows no stops equal no losses with 100% wins. That being said with a week like this it may or may not be a good idea to use one.

We will be looking into adding a hedge trade automatically at a certain condition it met. I am looking at his now.

We have a new 4.set file that will turn this EA into a 12 pip scalper. This produced a 31 trade in a row profit for WHTenn.

We are looking at this very hard to use a s stand alone or our new hedge helper.

Don

[Dave2]

Hi bossxero,

No the EA went as far as $3666 before close on Friday with no turn around. Having said that my MM was set to false so maybe that didn't help.