Wallstreet Forex Robot

[Johnnykanoo]

Okay guys/gals I decided to start a thread for Wallstreet Forex Robot, which I will refer to as WSFR from now on. The reason I chose to start with this one is because despite the very uninspiring name, this ea has been a consistent winner for me and doing very well even in the summer months.

Here is a link. Wallstreet Forex Robot

I want to be honest and tell you this is an affiliate link. I do not hide this fact. I would also like for you to know that I am not about making money from marketing. In fact the only reason I ever signed up as an affiliate was to have the ability to buy robots and get a discount if I decided to stay with them. The reason I am using my links is because I feel like if any one decides on there own to buy this ea than they will have to buy it from someone. By buying from me it supports me and also allows me to buy more ea's to test.

Okay glad thats out of the way.

In a nutshell WSFR is a scalper that trades anytime the conditions are good. It is not only a scalper but its risk to reward is a little out of wack. Its average win is almost 10 pips while its average loss is probably around 12. Its win rate is around 80%

I keep saying around because I have WSFR on 2 live accounts and a total of 3 accounts at one point. This ea like most ea's, is broker sensitive.

It trades the four majors Eur/USD, GBP/USD, USD/JPY, and USD/CHF

Personally I love this robot and it is my favorite in my portfolio, I'm going to show you guys my results in the next post so you can see for yourselves how WSFR has performed live for me.

[Johnnykanoo]

Okay I tried to edit my first post and add some stuff but I guess there is a 3 minute limit to edits. Anyway All I really was trying to add that I am going to touch on some things that affect profitability it this or any ea for that matter. I have been running WSFR live on hotforex currenex as of the last week or so and before that it was on a regular hotforex account. I am also running it live on fxopen.

I will compile some stats and put them up for all to see.

In the meantime some things that affect profitablity.

First and foremost, spread. If you are paying a high spread it will chew into your profits. This may not matter to ea's with a larger tp but for a scalper it is a very important consideration.

Another consideration is price feed and trade execution. Some brokers are better than others and all price feeds are different. I have run ea's on demo accounts and live, and I can say the only true way of knowing how an ea will perform is with a live account. Demo account will not suffer slippage, or requotes and therefore will not give you a true picture of an ea's performance

Another consideration is latency. That means how fast do things happen once the ea executes an order. To keep it simple I will just say faster is better. I have a VPS set up in the UK even though I am in the USA. By being physically closer I am getting better latency and therefore better execution.

Are you curious on how you can measure latency? Its actually quite simple (for windows anyway)

First click on start menu and in the search box type CMD
a blackbox will appear on your screen. This is for dos commands.

For hotforex you would type the following
ping hotforex.com

For fxopen you would type ping fxopen.com

Then windows will ping the server and return a report. I know there are more advanced ways to do this but this will give you a good idea of how fast orders are getting executed.

Whoever you are using for a broker can be tested just add your broker's website after the word ping.

just to let you guys know I pinged hotforex.com from my USA desktop and from my UK server. here's the results...

USA to hotforex.com average 141 ms (milli-seconds)
UK to hotforex.com average 26 ms

okay I'll be back with some stats...

[Johnnykanoo]

FXopen
4.27 -present

EU
total trades: 44
Average win rate : 83.5%
Average winner: [COLOR="Blue"] 8.78 pips[/COLOR]
Average loser: [COLOR="Red"]-23 pips [/COLOR]
Net pips so far: [COLOR="Blue"]164 pips[/COLOR]
Worst loser: [COLOR="Red"]-46 pips[/COLOR]
Best winner : [COLOR="Blue"]26 pips[/COLOR]
Profit factor: 1.32 .



GU
total trades: 23
Average win rate : 83%
Average winner: [COLOR="Blue"]14.63 pips[/COLOR]
Average loser: [COLOR="Red"]-32 pips[/COLOR]
Net pips so far: [COLOR="Blue"] 150 pips[/COLOR]
Worst loser: [COLOR="Red"]-120 pips[/COLOR]
Best winner : [COLOR="Blue"]25 pips[/COLOR]
Profit factor: 2.34


UJ
total trades: 28
Average win rate : 63%
Average winner: [COLOR="Blue"]6.72 pips [/COLOR]
Average loser: [COLOR="Red"]-10.2 pips[/COLOR]
Net pips so far: 19 pips
Worst loser: [COLOR="Red"]-22 pips [/COLOR]
Best winner [COLOR="Blue"]27 pips [/COLOR]
Profit factor: 1.11

UC
total trades: 41
Average win rate : 70.5%
Average winner: [COLOR="Blue"]8.11 pips[/COLOR]
Average loser: [COLOR="Red"]- 17.36 pips [/COLOR]
Net pips so far: [COLOR="Red"]-24 pips[/COLOR]
Worst loser: [COLOR="Red"]-120 pips[/COLOR]
Best winner: [COLOR="Blue"]17 pips[/COLOR]
Profit factor: .58


Totals
total trades: 136
Average win rate : 75%
Average winner: [COLOR="Blue"] 9.34 pips[/COLOR]
Average loser: [COLOR="Red"]-18.11 pips[/COLOR]
Net pips so far: [COLOR="Blue"]309 pips [/COLOR]
Worst loser: [COLOR="Red"]-120 pips [/COLOR]
Best winner: 27
Profit factor 1.22


Hot Forex Live
6.13.11 - 6.30.11

EU
total trades: 17
Average win rate : 87.5%
Average winner: [COLOR="Blue"] 6.96 pips [/COLOR]
Average loser: [COLOR="Red"]-16 pips[/COLOR]
Net pips so far: [COLOR="Blue"]72.4 pips[/COLOR]
Worst loser: [COLOR="Red"]-12.9 pips[/COLOR]
Best winner : [COLOR="Blue"]16.4 pips [/COLOR]
Profit factor: 3.62 .


GU
total trades: 9
Average win rate : 65%
Average winner: [COLOR="Blue"]18.47 pips [/COLOR]
Average loser: [COLOR="Red"]-6.1 pips[/COLOR]
Net pips so far: [COLOR="Blue"]92.5 pips[/COLOR]
Worst loser: [COLOR="Red"]-14.3 pips[/COLOR]
Best winner : [COLOR="Blue"]23.4 pips[/COLOR]
Profit factor: 6.18


UJ
total trades: 4
Average win rate :
Average winner: [COLOR="Blue"]4.73 pips[/COLOR]
Average loser: [COLOR="Red"]-2.3 pips[/COLOR]
Net pips so far: [COLOR="Blue"] 11.9 pips[/COLOR]
Worst loser: [COLOR="Red"]-2.3 pips[/COLOR]
Best winner [COLOR="Blue"]4.85 pips[/COLOR]
Profit factor: 5.13



UC
total trades: 10
Average win rate : 54%
Average winner: [COLOR="Blue"]7.45 pips[/COLOR]
Average loser: [COLOR="Red"]-23.7 pips[/COLOR]
Net pips so far: [COLOR="Red"]-50.1 pips [/COLOR]
Worst loser: [COLOR="Red"]-39.8 pips[/COLOR]
Best winner: [COLOR="Blue"]12 pips[/COLOR]
Profit factor: .38



Totals
total trades: 40
Average win rate : 73.5%
Average winner: [COLOR="Blue"] 9.14 pips[/COLOR]
Average loser: [COLOR="Red"]-14.74 pips[/COLOR]
Net pips so far [COLOR="Blue"]126.7 pips[/COLOR]
Worst loser: [COLOR="Red"]-39.8 pips[/COLOR]
Best winner: [COLOR="Blue"] 23.4 pips[/COLOR]
Profit factor 2.18


Hotforex Currenex live
7.1.11 - present


EU
total trades: 4
Average win rate : 75%
Average winner: [COLOR="Blue"] 2.53 pips[/COLOR]
Average loser: [COLOR="Red"]-14.9 pips[/COLOR]
Net pips so far: [COLOR="Red"]-7.3 pips[/COLOR]
Worst loser [COLOR="Red"]-14.9 pips[/COLOR]
Best winner [COLOR="Blue"]5.6 pips[/COLOR]
Profit factor: .26



GU
total trades: 4
Average win rate : 75%
Average winner: [COLOR="Blue"]15.53 pips[/COLOR]
Average loser: [COLOR="Red"] -1.5 pips[/COLOR]
Net pips so far: [COLOR="Blue"]48.1 pips[/COLOR]
Worst loser: [COLOR="Red"]-1.5 pips[/COLOR]
Best winner : [COLOR="Blue"]19.3 pips[/COLOR]
Profit factor: 131.27


UJ
total trades: 0
Average win rate : -
Average winner -
Average loser: -
Net pips so far: -
Worst loser: -
Best winner -
Profit factor: -


UC
total trades: 5
Average win rate : 87.5%
Average winner: [COLOR="Blue"]11.08 pips[/COLOR]
Average loser: [COLOR="Red"]-8.7 pips[/COLOR]
Net pips so far: [COLOR="Blue"]35.6 pips[/COLOR]
Worst loser: [COLOR="Red"] -8.7 pips[/COLOR]
Best winner: [COLOR="Blue"] 17 pips[/COLOR]
Profit factor: 5.53


Totals
total trades: 13
Average win rate : 87.5%
Average winner: [COLOR="Blue"] 9.85 pips[/COLOR]
Average loser: [COLOR="Red"] -7.37 pips[/COLOR]
Net pips so far: [COLOR="Blue"] 76.4 pips[/COLOR]
Worst loser: [COLOR="Red"]-15.9 pips[/COLOR]
Best winner: [COLOR="Blue"] 18.3 pips[/COLOR]
Profit factor: 3.38

[Johnnykanoo]

okay one last thing before I call it a night. You may notice that the hotforex accounts are relatively new. I did demo WSFR for the same time I had it on fxopen. It did extremely well and so that is why I decided to go live with hotforex. After a couple of weeks with a micro account I decided to go with a currenex account because of the great spreads and for million dollar pips which I will start a thread about in the near future.

Anyway proof is in the pudding so I am going to include a myfxbook widget here for all to see. This is my newest account, and WSFR is doing extremely well on it. I may cut usdchf from the lineup or severely limit my risk but I am not ready to do that just yet, but it is on my mind.

I do run higher risk on eu and gu. As you can see by my stats above these 2 pairs are doing very well compared to the others.

Anyway I'll talk to you guys later,
John

[Johnnykanoo]

fxopen has been averaging around a 100 pips a month

hot forex and hotforex currenex averaged together earned 203 pips over the last 30 days.

Very solid robot. I would definitely say it is doing best on hotforex.

If you are interested in checking them out here's a link.

http://www.hotforex.com

[tazmaan]

you have kept your live account at fxopen even though you live in the u.s.? They told me they no longer accept us clients (after being sued by ctfc).
Thanks for your reporting, nice to see another honest ea disection.

[Johnnykanoo]

yea I have had my account with them for some time now, no problem at all. I would say I'm really loving hotforex though.

[Johnnykanoo]

real quick update.

WSFR so far...
win rate: 88.5%
net pips: 149.9
monthly account gain: over 44% (so far)

my account overall is almost 100% this month!

[Andrew]

Hi John,
I purchased the EA this morning and put it on demo just to make sure Alpari worked. Three winning trades this afternoon already. Will change to live next week.
Do you recommend Hotforex as the prime broker for EAs?
I also purchased MDPips yesterday and am running it on a ThinkForex live account (their recommended broker), first trade was a loser.
Just finally, I have been using Forex Gold Trader as my only EA for two months and committed the sin of closing trades when the drawdown was high (never easy to hold your nerve). Needless to say gold prices have risen again and the closed trades would now be in profit.

[Johnnykanoo]

I'm glad your first trades were winners with WSFR. I don't know how Alpari is but I have heard good things about them overall. I was running fxopen for a while and my ea's were running good but hotforex seems to be great. I think for a scalper a low low spread is a must. Otherwise its going to eat into your trades and turn winners into losers. Nothing is worse than missing a take profit by 1 pip or fraction of a pip for that matter.

I'm running WSFR as well as mdp on hotforex currenex and it has been awesome so far. I am going to start a thread about mdp and talk more about it there. I should have it started by tomorrow. I definitely want to talk about those results too.

My style trading involves having a portfolio of different ea's I feel that it reduces risk overall.

Many people say ea's aren't as good as traders who use there brains. I agree, even the best ea cannot beat a great trader. However I feel that people should consider that ea's are not human. They do not act human. They are a program and they don't think or act human. All they do 24 hours a day is look for a specific condition to be met. When that condition is met they execute a trade and than they "rinse and repeat"

When you have mulitple ea's or ea's (like wallstreet) that have very complex algorithms than they can search for different market conditions or patterns or whatever they are designed to look for.

Point is, if you 5 different ea's all looking for 5 different conditions than you have 5 times more opportunity. It would be like a trader trading 5 different systems. He will have more signals for different reasons. Some reasons might be a trending market, or a range bound market, or a volatile market, but that is basically impossible because who can keep up with that?

The 5 ea's would all be looking for there condition 24 hours a day. If the ea's have a positive expectancy in the long term than the portfolio would grow at a steady pace. Draw downs and draw down periods would be reduced. Overall you end up with a smoother equity curve.

Markets always change and many times an ea that was great is left in the dust! We see examples of this all over the internet. Just ask anyone still trading fapturbo? If you have several ea's running, when one starts to fizzle out you limit the risk and at some point maybe you decide to put it on the shelf. And always look for new ways to make money. New ea's that are producing, because believe it or not there is always something that is doing well, and some do well longer than others.

A perfect example is Forex Morning Trade. This ea was on fire for a long long time and it was doing so well I upped my risk by trading it 3 times a day all with 2% risk per trade. Some weeks it would make me 10% and some weeks it would make 40% It was great. Than something happened. It started a couple months ago. It seemed like FMT couldn't win 2 in a row so the first thing I did was reduce my risk dramatically. First I reduced to .5% per trade 3 times a day but I watched losing week after losing week for about a month and so I decided to drop down to 2 trades and one I leave at around .3% and the other one even lower. If at the end of fall I haven't seen some break even months and some winning months than I will drop it completely from the line-up.

Same with FGB right now it has had a couple of rough weeks. First thing I do is reduce risk. It's all about preserving capital.

MDP and WSFR are on fire so I have upped my risk a little.

WSFR EU risk is 10%
WSFR GU risk is 10%
while UC and UJ are only 3% risk

if EU or GU start to lose or hit full stops often than I will cut risk. You may think 10% is high but it isn't I look at average loss and based on those numbers I am comfortable with the risk. Right now WSFR's average los is about 10% of a full stop loss or about 18-20 pips So in reality I can adjust my risk. In my mind I realize I could lose 10% but based on history I think as a rule of average a loser will cost me 1% of my account. I can also do this because I have decent leverage. Anyway I hope you guys follow what I am saying about risk, and also about diversification. It is critical to a healthy portfolio.

So right now my portfolio is.....
WSFR 3.8
Million Dollar Pips 1.1.4
Forex Growth Bot 1.6
Steady Winner 5.0
Forex Morning trade (on very small risk due to poor perfermance)

Sorry for the really long post :D

[Emman95]

Originally Posted by Johnnykanoo

I'm glad your first trades were winners with WSFR. I don't know how Alpari is but I have heard good things about them overall. I was running fxopen for a while and my ea's were running good but hotforex seems to be great. I think for a scalper a low low spread is a must. Otherwise its going to eat into your trades and turn winners into losers. Nothing is worse than missing a take profit by 1 pip or fraction of a pip for that matter.

I'm running WSFR as well as mdp on hotforex currenex and it has been awesome so far. I am going to start a thread about mdp and talk more about it there. I should have it started by tomorrow. I definitely want to talk about those results too.

My style trading involves having a portfolio of different ea's I feel that it reduces risk overall.

Many people say ea's aren't as good as traders who use there brains. I agree, even the best ea cannot beat a great trader. However I feel that people should consider that ea's are not human. They do not act human. They are a program and they don't think or act human. All they do 24 hours a day is look for a specific condition to be met. When that condition is met they execute a trade and than they "rinse and repeat"

When you have mulitple ea's or ea's (like wallstreet) that have very complex algorithms than they can search for different market conditions or patterns or whatever they are designed to look for.

Point is, if you 5 different ea's all looking for 5 different conditions than you have 5 times more opportunity. It would be like a trader trading 5 different systems. He will have more signals for different reasons. Some reasons might be a trending market, or a range bound market, or a volatile market, but that is basically impossible because who can keep up with that?

The 5 ea's would all be looking for there condition 24 hours a day. If the ea's have a positive expectancy in the long term than the portfolio would grow at a steady pace. Draw downs and draw down periods would be reduced. Overall you end up with a smoother equity curve.

Markets always change and many times an ea that was great is left in the dust! We see examples of this all over the internet. Just ask anyone still trading fapturbo? If you have several ea's running, when one starts to fizzle out you limit the risk and at some point maybe you decide to put it on the shelf. And always look for new ways to make money. New ea's that are producing, because believe it or not there is always something that is doing well, and some do well longer than others.

A perfect example is Forex Morning Trade. This ea was on fire for a long long time and it was doing so well I upped my risk by trading it 3 times a day all with 2% risk per trade. Some weeks it would make me 10% and some weeks it would make 40% It was great. Than something happened. It started a couple months ago. It seemed like FMT couldn't win 2 in a row so the first thing I did was reduce my risk dramatically. First I reduced to .5% per trade 3 times a day but I watched losing week after losing week for about a month and so I decided to drop down to 2 trades and one I leave at around .3% and the other one even lower. If at the end of fall I haven't seen some break even months and some winning months than I will drop it completely from the line-up.

Same with FGB right now it has had a couple of rough weeks. First thing I do is reduce risk. It's all about preserving capital.

MDP and WSFR are on fire so I have upped my risk a little.

WSFR EU risk is 10%
WSFR GU risk is 10%
while UC and UJ are only 3% risk

if EU or GU start to lose or hit full stops often than I will cut risk. You may think 10% is high but it isn't I look at average loss and based on those numbers I am comfortable with the risk. Right now WSFR's average los is about 10% of a full stop loss or about 18-20 pips So in reality I can adjust my risk. In my mind I realize I could lose 10% but based on history I think as a rule of average a loser will cost me 1% of my account. I can also do this because I have decent leverage. Anyway I hope you guys follow what I am saying about risk, and also about diversification. It is critical to a healthy portfolio.

So right now my portfolio is.....
WSFR 3.8
Million Dollar Pips 1.1.4
Forex Growth Bot 1.6
Steady Winner 5.0
Forex Morning trade (on very small risk due to poor perfermance)

Sorry for the really long post :D

Johnny, can you possibly give us a view of the running accounts through www.mt4i.com to allow us do the analysis of the performances by ourselves? e.g see the performance of an EA I am currently testing www.mt4i.com/users/mecforex6

[Johnnykanoo]

I'll definitely consider using mt4i. I've used them before with good results.

[Stroopster]

Hello Johnny
in the MYFX you have MDP running alongside "wally" WSF. Would it not be better and easier to have them separate?
Regards
Stroopster

[Johnnykanoo]

it woud but I don't have $500 for each currenex account that I would need to test every ea separately.

[turbopro]

Are there any such EAs?

Scalping, and other short-term trading techniques, are not my cuppa tea. Any time frame less than 1 day is too short for me. I have found that taking the long term outlook brings, not just the most rewards, but for me, the only rewards.

Thanks

[Johnnykanoo]

Are there any such EAs?

Scalping, and other short-term trading techniques, are not my cuppa tea. Any time frame less than 1 day is too short for me. I have found that taking the long term outlook brings, not just the most rewards, but for me, the only rewards.

Thanks

Thats cool, different strokes for different folks.

If I trade off the daily or the 4hour I can find success, but for my personality type it is a little harder. I'm more of an "over trader" I have spent years trading off the 4 hour and 1 hour. I used to trade mostly price action. I would use 1 or 2 indicators mostly for divergence.

The beauty of automated trading is you can still trade your normal method and have a little side line. If you are trading 12 pairs on the daily, how many signals will you get a month? 12, 15? If you have an 80% win rate than you would win 10 out of 12. If you risk 2% and make at least 1:1 you would earn 16% on your account. If your method is truly awesome and you earn more than you risk your % would be higher maybe even double. But the drawback would be you have to be near a computer, you have to recognize your setup, you would have to have discipline to wait for the a+ setups and also discipline to not "jump the gun" I could go on but you get what I'm saying.

For me I like to have confidence in a robot and let it constantly monitor the markets looking for the "perfect" opportunity. By automating this process I don't have to get up at 2:00am eastern USA time. I don't have to carry my laptop around everywhere. I just keep an eye on my robot and keep my risk in check and thats it. By incorporating different ea's I am able to diversify my portfolio and smooth out my equity curve in the long run.

The beauty of it is I can still manually trade if I want to, and believe me I do. My manual system that I like is a "break-away" from the very popular synergy method. But even that I like on the 1 hour tf.

[Johnnykanoo]

Okay guys another thing I am doing right now. I have decided to test other pairs with "wally" There have been others doing this for a little while and they seem to be having good success with it. I am not convinced it is the way to go but I figured I would look into it.

So for now I have added a bunch of pairs and I will be playing with the settings a little to see what happens. Who knows maybe we are sitting on a gold mine. If we trade a lot of pairs with success we can limit our risk per pair and make money safer with diversification.

Yes there would be multiple eur pairs and multiple usd pairs ets. but I think it would ultimately still be safer.

[turbopro]

"For me I like to have confidence in a robot and let it constantly monitor the markets looking for the "perfect" opportunity. By automating this process I don't have to get up at 2:00am eastern USA time. I don't have to carry my laptop around everywhere. I just keep an eye on my robot and keep my risk in check and thats it. By incorporating different ea's I am able to diversify my portfolio and smooth out my equity curve in the long run."

That's what I am after: a robot that does the heavy-lift data/information collection and analysis; thereafter, I can elect auto/manual transmission.

So, do you know of any EAs that are designed for the more position trader types?

Perhaps any EA can be used for any time frame?


Appreciate your candour and advice.


Thanks

[Johnnykanoo]

So, do you know of any EAs that are designed for the more position trader types?

Perhaps any EA can be used for any time frame?

To be honest I can't think of any off the top of my head. Most ea's are definitely more daytrader or scalper than position trader. I will look into it and see if anything worthwhile is out there.

As for wally. I decided to dial down my risk on GU. I had it at a whopping 15% and that is high for her right now. We had 2 big losers since the 15th. It has cost me 8%. If gu continues to suck for the rest of summer it would only take weeks to wipe my account out at that risk level so I am dropping risk down to 10% or around 50% less risk than I have had. I just lost around 4% per trade. If I have another loser of a similar size it will cost 2.5-3% and if I lose another couple of gu trades over the next week I will slash the risk in half to 5% and hopefully only lose around 1%

This is how I do it. I adjust risk and tweak for the long run. If wally's gu trades bounce back and wally starts extrapolating pips from the market again than I will increase my risk back to 15% I would rather lose a little potential profit than lose my equity.

[Johnnykanoo]

Well I just wanted to give a quick update. I have added 8 "alternate" pairs for wally to trade. So far so good :D I am liking what I am seeing. I was risking 1% per trade but I have decided to risk 2%

In terms of WSFR risk is a little tricky. We are taught to risk max 2% of our account on any one trade and that is sound advice. Of course there are some who will risk 5% and some who would never risk more than 1% This is the standard accepted range between 1% and 5%

With Wally its a little different. Technically I am risking a certain percent but Wally almost never closes for a full stop. In fact the average loss is about 13 pips

right now my account is at $817.50 so if the average loss is 13 pips and you are risking 2% than the pip value would be $16.35 However there is potential for greater loss.

By risking only 2% of my account my lot size is only about .13c a pip With these numbers than my average loss would be about $1.69 or about .2% If I win it would be slightly smaller maybe .175% For me that is not meaningful enough so I look at these numbers and I make decisions based on my comfort level.

Remember ea's don't trade like humans do so there risk should be looked at differently too.

If I risk 10% with Wally I am looking at about .68c per pip and an average loss would result in around -$8.85 or around 1% This is average. Larger losses can and do happen. If I hit a full stop loss it will cost me 10% of my account!

Here is some more things to factor when deciding risk for this ea. History. For starters how much data are you basing your numbers on? To be honest my sample of numbers is still very small. Several months of numbers would be better.

What time of year are we trading in? Its the dog days of summer and the markets may be thinner than usual. Other times factor in. Holidays are slow and unpredictable.

Finally I would also warn that my "style" of money management for Wally does not provide for a black swan. If something terrible happens and the markets crash I will certainly lose money.

Here is a breakdown of my risk profile so far..

GBP/USD 10%
EUR/USD 15%
USD/JPY 5%
USD/CHF 5%
USD/CAD 2%
EUR/AUD 2%
EUR/CHF 2%
AUD/USD 2%
EUR/JPY 2%
AUD/JPY 2%
AUD/CAD 2%
EUR/CAD 2%

All the 2%er's are being tested for long term vialbility.

[turbopro]

Originally Posted by Johnnykanoo

Of course there are some who will risk 5% and some who would never risk more than 1% This is the standard accepted range between 1% and 5%.

...

Finally I would also warn that my "style" of money management for Wally does not provide for a black swan. If something terrible happens and the markets crash I will certainly lose money.

Nice to see a forex forum leader focussed on risk management. A 99% winning EA would be useless in the hands of a tyro unwise in the ways of risk management.

Thanks again John.

[Johnnykanoo]

okay guys my account is having a rough week. To be honest I think MDP may be a part of it. EUR/USD had 2 losers which hurt us a little but overall wallstreet did well. Some of the alternative pairs did real well while some not so much. Lets see what I have so far. I was going to do this analysis over the weekend but I need to "see where I'm at"

EUR/CAD hit a [COLOR="Red"]full stop loss -150[/COLOR] but several small winners totaling 33.7 total net pips -116.3

AUD/CAD had [COLOR="Red"]-2.4[/COLOR] in one trade

USD/CAD had 6 trades, all winners for a total of[COLOR="Blue"] +70.7 [/COLOR] haha! I almost called it CAD/USD guess its been a while since I traded this pair :D

So I will keep USD/CAD at 2% risk but the other two cad's are going fixed lot. .01 or something. EUR/CAD may have potential even though it hit a full s/l


EUR/CHF did real well so far with 11 trades, all winners for a net total of[COLOR="Blue"] +142[/COLOR] that one will remain 2%

USD/CHF on the other hand is keeping it's head above water. I've been running this pair since the beginning. I have dropped risk a little on this one in the past. I think I may hold steady on this one. It has had a total of 15 trades and is net positive with [COLOR="Blue"]+22.2[/COLOR]

AUD/JPY had 1 loser for a net [COLOR="Red"]-9[/COLOR]. Jury's still out but I've seen elsewhere where this pair did well so I will keep my eyes open with this one.

EUR/JPY had 6 trades all winners with a net total of [COLOR="Blue"]+72[/COLOR]. Very nice

USD/JPY I have been running all along has had 3 trades with a net total of [COLOR="Blue"]+10.8[/COLOR]

EUR/AUD had 4 trades 75% win rate and a net total of [COLOR="Blue"]+26.6[/COLOR]

AUD/USD had 4 trades 75% win rate but a net loss of [COLOR="Red"]-1.2[/COLOR]

EUR/USD has had 14 trades somewhere around 73% win rate and a net positive of [COLOR="Blue"]+20.7[/COLOR] Last week was particularly rough with her having 2 losers for a negative total of [COLOR="Red"]-16.6 for the week[/COLOR].

GBP/USD has had 9 trades a lousy 49.5% win rate but a positive net total of [COLOR="Blue"]+28.9 [/COLOR] I will be watching this pair closely risk on this pair is at 10% If it continues to do marginally I will reduce risk to 7.5% If it does poor I will reduce down to 5%

So if anyone is interested, not that it matters as much, but dun da da dun the net totals so far are...........


[COLOR="Blue"]+232 Pips
80 Trades
73% win rate
pf of 1.03

[/COLOR]

Could be better, could be worse. I will proceed with caution with all the new pairs and GU.

By the weekend I will have stats for MDP as well. It has been a rough week but I think it is still to early.
We have a lot of testing to do to see the overall picture of WSFR

Talk to you guys later,
John

[Andrew]

Hello Johnny,
Have just completed my first week's trading with WSFR (also running Steady Winners) and am down $110 on a $3,700 account (Alpari). Hope for better things next week. Emailed WSFR support, they're having losses as well. They said to be patient!

[Johnnykanoo]

yea I noticed steady winner has had 2 wins in the past weeks no losses

I notices MDP was not the culprit. In fact WSFR has had a rough week but I would say that her past performance tells me she will be fine in the long run. Also some alternative pairs look promising. I will continue to test them for us all.

Beleive me if the time comes to put a bullet in wally I'll be the first to fire but till than I think she has a lot of potential to make us some real money.

Sounds like your account is down around 2 1/2% that's not terrible, hope next week is better for all of us.

[Andrew]

Hello John,

The other pairs in your list you are testing, are they on WSFR? I just tried EURCHF out of curiosity and had an error 'Not supported'. I'm probably missing something.

As an old user of FAP Turbo (no success with it) I've received the free copy of Ichimoku, their new bells and whistles EA. Will keep everyone posted. One trade on 5 pairs in 24 hours and a loser.

[Johnnykanoo]

yes they are all on wsfr

in the settings you have to set UseCustomSettings to true than UseSettingsFrom and select what settings you want to use.

[Johnnykanoo]

Well my account has sprung back nicely! I am loving the returns so far! I want to continue to test WSFR, especially alternate pairs. Every time I look my account is climbing. It feels nice but I won't let it go to my head. Last week was humbling for my account and stresses the need for money management. Ea's can and will go into drawdown periods. Sometimes the dd lasts a day sometimes it can last weeks. We have to remain vigilant and constantly analyze our results.

Also the other noteworthy thing I do is constantly test new ea's for there viability to add to my portfolio. Its a process that keeps the account strong for the long haul. BUT I would say in all honesty I see WSFR being a part of my portfolio for months and months and hopefully years and years! This ea itself is very stable. Last week was actually the first time I experienced dd with wally. The alternate pairs may or may not hurt stability thats why I'm testing it. In reality so far the alternate pairs are performing well. I will continue to test.

[Andrew]

Yes, account has recovered nicely. Looking to increase my risk on a couple of pairs next week. Ichimoku EA is going nicely as well, 13 trades up to Wednesday with just 1 loss, really good night Wednesday night, will try on live account with very small lot size next week.

[Johnnykanoo]

talk to me about ichimoku. Is that the new FAPT ea. It is my understanding that it trades 4 pairs and is still an Asian scalper. Is it performing well?

I know this is the WSFR thread, maybe it would be nice if you started a thread and kept us updated.

[TheTrainer]

That's some nice recovery. I wonder if you are going to be able to keep the track. Keep us updated please. I've been contemplating this program for quite a while.

I'm new btw

[Johnnykanoo]

TheTrainer welcome to forexmoments


Hot Forex Results 7.31.2011 (since July 1) A.win and A.loss stands for average the number right after number of trades is the total net pips for the month.

Wallstreet:
GBP/USD 12 trades [COLOR="blue"]+76.4 [/COLOR] pf 1.36 win rate 66% A.win 16.49 A.loss-13.88
EUR/USD 22 trades [COLOR="blue"]+44.7 [/COLOR]pf 1.49 win rate 82.5% A.win 5.11 A.loss -11.83
USD/JPY 4 trades [COLOR="red"]-4.5[/COLOR] pf .65 win rate 50% A.win 8.65 A.loss -10.9
USD/CHF 21 trades [COLOR="blue"]+50[/COLOR] pf 1.33 win rate 67.5% A.win 10.31 A.loss -17.43

major pairs 59 trades net pips [COLOR="blue"]+166.6[/COLOR]

Testing Alternative Pairs (only a week or so of data so far)

USD/CAD 15 trades [COLOR="red"]-38.4 [/COLOR]pf.55 win rate 80% A.win 11.38 A.loss -58.30
EUR/AUD 4 trades [COLOR="red"]-94.2[/COLOR] pf .23 win rate 66.5% A.win 15.25 A.loss -62.35
EUR/CHF 20 trades [COLOR="blue"]+42.2[/COLOR] pf .78 win rate 76.5% A.win 12.98 A.loss -41.38
AUD/USD 6 trades [COLOR="blue"]+27.2[/COLOR] pf .88 win rate 50% A.win 9.02 A.loss -17.90
EUR/JPY 18 trades [COLOR="blue"]+132.6[/COLOR] pf 3.91 win rate 89% A.win 10.36 A.loss -16.55
AUD/JPY 5 trades [COLOR="blue"]+38.5[/COLOR] pf 8.81 win rate 75% A.win 11.88 A.loss-9
AUD/CAD 5 trades [COLOR="blue"]+18.4[/COLOR] pf 6.45 win rate 80% A.win 5.23 A.loss -2.5
EUR/CAD 13 trades [COLOR="red"]-161.4[/COLOR] pf .17 win rate 51% A.win 6.46 A.loss -42.62

81 total trades [COLOR="red"]net pips -35[/COLOR]

[richigor]

Thanks for keeping us up to date with your real testings.(Wery nice work)

Currently on my account I use ForexGrowth 1.1 and I am pretty happy with it.
Maybe you could say a few words here about it. It would be interesting to know your opinion. Thanks in advance.

[Andrew]

John I'm about to pull some hair out. 36 hours ago I was sitting pretty with 10% profit on my account for the week, now I'm back to where I was a fortnight ago having lost 10%. Most of its down to Wally as well. Two trades where the full SL was hit - I thought it closed trades well before for a small loss. These were -$175 and -$150 on the USDCHF and EURJPY on relatively small lot size of 0.1. That's a lot of pips lost - I take it personally like you when these things happen.

[Johnnykanoo]

Only thing I can say is I feel your pain. It is possible that the summer is going to be rough for wally. I don't know. I can tell you that all alternative pairs got reduced to max 2% risk including eur/jpy, aud/usd, and aud/jpy which are doing the best right now.

As for usd/chf I have also dropped risk low.

I dropped eur/chf completely. It has hit 3 sl's in about a week.

Wally is a good bot but it may struggle through till September. My account took a little abuse. One thing I did though was I mistakingly had my risk set way to high on forex growth bot and I lost a big chunk (about $250) by accident, but I can't blame fgb it was my mistake.

In any event I will continue to post my results and I think I will start a thread on FGB.

[Johnnykanoo]

Okay guys here are my results so far....

GBP/USD 18 trades [COLOR="Blue"]+11.5 [/COLOR] pf .62 win rate 49.5% A.win 16.17 A.loss-14.89
EUR/USD 31 trades [COLOR="Blue"]+80.7[/COLOR] pf 2.13 win rate 86% A.win 4.75 A.loss -11.83
USD/JPY 7 trades [COLOR="Blue"]+.5[/COLOR] pf .85 win rate 58% A.win 14.05 A.loss -18.57
USD/CHF 30 trades [COLOR="Red"]-26.1[/COLOR] pf .59 win rate 70% A.win 10.83 A.loss -28.17


USD/CAD 25 trades [COLOR="Blue"]+49.4[/COLOR] pf1.18 win rate 83% A.win 11.96 A.loss -50.43
EUR/AUD 12 trades [COLOR="Red"]-2.5[/COLOR] pf 1.03 win rate 68.5% A.win 14.07 A.loss -43.03
EUR/CHF DROPPED
AUD/USD 16 trades [COLOR="Blue"]+115.7[/COLOR] pf 3.53 win rate 95% A.win 8.91 A.loss -17.90
EUR/JPY 35 trades [COLOR="Blue"]+128.4[/COLOR] pf 1.03 win rate 91.5% A.win 9.73 A.loss -61.03
AUD/JPY 11 trades [COLOR="Blue"]+36.7[/COLOR] pf .93 win rate 70.5% A.win 13.29 A.loss-23.20
AUD/CAD 11 trades [COLOR="Blue"]+81.3[/COLOR] pf 31.78 win rate 91.5% A.win 8.38 A.loss -2.5
EUR/CAD 27 trades [COLOR="Red"]-61.5[/COLOR] pf .53 win rate 69.5% A.win 8.27 A.loss -39.20




**Some notes**

GBP/USD still sucks so I am keeping my risk reduced for now
EUR/USD doing great and definitely the best performer of the 4 majors
USD/JPY break even at best
USD/CHF a net loser.

USD/CAD performing very solid right now
EUR/AUD basically breakeven
EUR/CHF Dropped. Performance was very poor
AUD/USD Turning into a superstar! Look at her stats! I got my eye on this pair
EUR/JPY still going strong. I have high hopes for this pair
AUD/JPY doing okay
AUD/CAD doing awesome! a profit factor of 31.78 definitely go my eye on this one.
EUR/CAD a net loser overall so far

[Emman95]

Originally Posted by Johnnykanoo

Okay guys here are my results so far....

GBP/USD 18 trades [COLOR="Blue"]+11.5 [/COLOR] pf .62 win rate 49.5% A.win 16.17 A.loss-14.89
EUR/USD 31 trades [COLOR="Blue"]+80.7[/COLOR] pf 2.13 win rate 86% A.win 4.75 A.loss -11.83
USD/JPY 7 trades [COLOR="Blue"]+.5[/COLOR] pf .85 win rate 58% A.win 14.05 A.loss -18.57
USD/CHF 30 trades [COLOR="Red"]-26.1[/COLOR] pf .59 win rate 70% A.win 10.83 A.loss -28.17


USD/CAD 25 trades [COLOR="Blue"]+49.4[/COLOR] pf1.18 win rate 83% A.win 11.96 A.loss -50.43
EUR/AUD 12 trades [COLOR="Red"]-2.5[/COLOR] pf 1.03 win rate 68.5% A.win 14.07 A.loss -43.03
EUR/CHF DROPPED
AUD/USD 16 trades [COLOR="Blue"]+115.7[/COLOR] pf 3.53 win rate 95% A.win 8.91 A.loss -17.90
EUR/JPY 35 trades [COLOR="Blue"]+128.4[/COLOR] pf 1.03 win rate 91.5% A.win 9.73 A.loss -61.03
AUD/JPY 11 trades [COLOR="Blue"]+36.7[/COLOR] pf .93 win rate 70.5% A.win 13.29 A.loss-23.20
AUD/CAD 11 trades [COLOR="Blue"]+81.3[/COLOR] pf 31.78 win rate 91.5% A.win 8.38 A.loss -2.5
EUR/CAD 27 trades [COLOR="Red"]-61.5[/COLOR] pf .53 win rate 69.5% A.win 8.27 A.loss -39.20




**Some notes**

GBP/USD still sucks so I am keeping my risk reduced for now
EUR/USD doing great and definitely the best performer of the 4 majors
USD/JPY break even at best
USD/CHF a net loser.

USD/CAD performing very solid right now
EUR/AUD basically breakeven
EUR/CHF Dropped. Performance was very poor
AUD/USD Turning into a superstar! Look at her stats! I got my eye on this pair
EUR/JPY still going strong. I have high hopes for this pair
AUD/JPY doing okay
AUD/CAD doing awesome! a profit factor of 31.78 definitely go my eye on this one.
EUR/CAD a net loser overall so far

Gentlemen, It seems to me that for an EA to be said to be performing well, it should be able to run without monitoring and interventions of dropping a particular pair or replacing another.

What we are witnessing now in terms of losses seems to me an evidence that a dependable EA is yet to exist. This is not to say I am against EAs. But I am saying we need honest EA disigners who must be active forex traders collaborating with honest EA coders. This is the way a dependable EA can be brought to existence. Most of the EAs we have currently are developed by brokers' representatives. This is why "LOSS" is usually the end result. If I am wrong, please show me a live account (not marketer's account) that is traded by any EA for 2 years and end up with profit.

Having said that, we can bring about a dependable EA on this forum if designers collaborate with coders.

[Johnnykanoo]

there is where you are wrong. Good ea's need monitoring. no such thing as free lunch but for the record the 4 majors + usd/cad are all that wally suggests. I am taking it upon myself to test other pairs to see if we can squeeze more profit from this ea.

Also Im not sure how long you've been trading but basically everybody knows August sucks and summer is sluggish. Also everybody knows that December is basically worthless.

So I am playing with risk but if I wanted to be conservative I would make it 2% accross the board.

Read the results wally is net positive and has been for the duration so far so could you be specific in what proof that there are no good/profitable ea's?

**also for the dropped pair, try to remeber I am testing. Testing means monitoring and tweaking. When you create a "system" don't you fine tune it?

[Johnnykanoo]

btw wally is net positive Also keep in mind these results are for my new account which is not even 30 days old yet.

Again net positive

btw a month is not enough time to draw conclusions on eas or manual systems

[Andrew]

John, it's definitely not working on Alpari. I had another full SL hit on EURUSD this morning - $360 gone in one hit. Wally has lost me $500 in two trades in two days. Why is it not closing losses early instead of going the full distance?

[Johnnykanoo]

I don't know but eu hit stop on me too :( I was very surprised eu is her best pair. It cost me $216 on my test account and I am not happy about it either/ I'm keeping my risk set the same on eu though. all the others have reduced. If I lower risk now it will be harder to catch up, but if I hit another stop I will certainly dial my risk down. I doubt eu will hit 2 full sl's next to each other, but than again you never know.

Look at it this way if you are flipping a coin 10 times in a row and the first 7 tosses all land on heads what is the probability it would land on heads for the 8th toss?

The answer 50/50 the odds don't change. August is usually tough on scalpers and there is really no way of knowing if she will hit another sl.

I recommend keep your overall risk low and try and relax a little. I think everything is going to be okay.