RoboMiner Pro Robot Review - LIVE ACCOUNT - Page 49 - Pip Cop

vogelezang · 2009-08-25, 10:13 AM

Quote:

Originally Posted by traderx

will this ea work with oanda? www.fxtrade.oanda.com

Last time I checked Oanda does not have the option to use MetaTrader 4. This expert will only run on MT4 as a platform.

**pipdetector** · 2009-08-25, 11:06 AM

I guess if it supports micro lots and MT4 it should work.

**rsmereka** · 2009-08-25, 12:11 PM

Quote:

Originally Posted by vogelezang

Last time I checked Oanda does not have the option to use MetaTrader 4. This expert will only run on MT4 as a platform.

Correct,

Oanda has their own proprietary Java-based trading application. It is not Metatrader.

Rick

traderx · 2009-08-25, 07:45 PM

will any EAs run with oanda. I've been with them for a couple years now.

**PipCop** · 2009-08-25, 08:09 PM

No, Oanda does not support MetaTrader.

**pipdetector** · 2009-08-26, 02:11 AM

Traderx,

There are many quite reliable FX brokers that support MT4, if you need them for Robominer, check their AUDNZD spread

when on the hunt...

peteronmaui · 2009-08-26, 04:00 AM

...and check their swap

, because the negative swap

on both currencie pairs at IBFX cost me already 10% on all the positions I was still holding from 1.1650 audnzd from October last year when I decided to get out of this one 2 months ago. By now it would probably be 20%. I still would be holding 12 positions.
And by the way, if you are playing this with 10 times the recommended leverage

as some do, you are playing with fire. I lost 15 K last year with something very similar , when the gbpjpy went from 251 to 119 in a matter of months. Can't happen with the audnzd? Well, it happened with usdcad, just two nations as friendly and connected as Aussies and Kiwis, so never say never. that's why I got out.
Peter

**jerrycollie** · 2009-08-26, 09:17 PM

Hi Hyperdimension,
I appreciated your discusion about backtesting. I would like to do my own backtesting also; for this reason: I suspect the vendors' default settings are faulty. It seems they always hand me a robot set to scalp about 10 pips or less; but they have set the stop loss at 60, 100, or even more. These huge stop loss points give the robot a win ratio in the 90's (a good sales point

); but I would be happy with a win rate

of 40%, if the take profit were 3 times the stop loss. Backtesting at different T/P vs S/L points should reveal whether or not the vendors' are padding the stop loss to give their robots a higher win rate

. In manual trading, I would never place a trade with a stop loss point

10 times larger than my take profit point

.

**pipdetector** · 2009-08-27, 03:43 AM

Padding the stop loss may be the explanation for the "scalpers" success shown in backtests. They might have been overoptimized on S/L so as to show results that look stellar in the marketing campaings.The scalpers would show their real value if the the risk ratio were 1:1 not 1:10 as it is now.

Fortunately, this is not RM problem

**jerrycollie** · 2009-08-27, 09:54 PM

Hi Pipdetector,
A very good point

. Maybe I will forward test some of my scalpers at 1 to 1. If they loose at 1:1, especially on EUR/USD, then maybe they are just shooting from the hip?