This is a really big help, thanks. I've had a lot of problems running EA's on my laptop while I was trying to do other work.
I recieved an e-mail from Don this weekend.
He does not recomend using a VPS service, he says they've had too many problems.
It also seems quite easy to contain the drawdowns. Theres no need to hold them till the end of the month. He claims you can set a risk allowance as one way to limit drawdown, you can also close open trades at any time using a stop or target, or on a color change. I've read several people on the FPA site who recomend closing trades weekly. Personaly it seems that running a fixed stop loss for safety purposes, and an automatic sell if a higher level trend changes would make most sense.
You can also open new charts on the same currencies without closing the old ones using the magic number sequence, so you can trade multiple time frames at once, in this way you can also install new chart windows to keep the robot trading during open holding periods. As well you should be able to use the robot to build a large position in a trending currency by taking partial profits at a target and holding the rest on a trend line.
He implies that you can do this on one platform under the robots control, but I'm still not sure its posible to add to an existing position under the robots control. It seems more likely that you would need to accumulate the position as seperate trades, or remove the robot and control the position manualy.
I'm still very interested in this robot in spite of the negative comments. It seems likely they are expecting the robot to run itself, and they arent ready to self manage the drawdowns. These drawdowns are probably the bigest liability this robot has going, and I see no logical reason for them. |