Forex Hacked

[rsmereka]

Originally Posted by bayon

hello Rick

I've been running FH on a live account since monday and no trades at all..2 pairs gbusd-usdjpy...FH is set correctly.
any idea.?
many thanks

Hi bayon,

Forex Hacked is just about always in the market so I would say that it is not set up correctly. Post your set file here and tell me what broker you are using and what type of account (standard, mini, mico etc) and I will try and figure it out. Also attach the experts log for the most recent day (you cannot upload a '.log' file here, just copy the file to a temporary directory and change the extension to '.txt' then upload).

Some guidelines:

-Forex Hacked does not work with NFA brokers because it uses hedging
-You need a broker where you can open a 0.01 (1K, micro) lot unless you have at least 50K for one pair
-Balance guidelines:
--5K minimum with one pair (lots set at 0.01)
--10K minimum with two pairs (lots for each pair set at 0.01)

The above balance guidelines are fairly aggressive. Ideally, the balance should be doubled for the same lot size (10K 1 pair at 0.01 lot, 20K 2 pairs, 0.01 lot).

Lot size should only be increased when you reach the next threshold (eg: at 10K with one pair, you can go to 0.02).

Rick

[bayon]

I use hot forex broker with a 12.5k live standard account.
FH is attached to 2 pairs gbpusd and usdjpy with FBI settings 0.01 lot size.
I do not have 6 to 10 trades a day like your demo account..!

regards

[rsmereka]

Originally Posted by bayon

I use hot forex broker with a 12.5k live standard account.
FH is attached to 2 pairs gbpusd and usdjpy with FBI settings 0.01 lot size.
I do not have 6 to 10 trades a day like your demo account..!

regards

What about the information I asked for?

What set file did you load in Forex Hacked?

You realize that you need an account on the Forex Hacked website. In effect, you have to register your account number. Note that this applies only to live/real money accounts.

Rick

[bayon]

hi Rick
check clapan EA on FPA it looks very profitable I suspect they have the same strategy as GI but trading with many pairs.
any opinion..?

cheers

[rsmereka]

Originally Posted by bayon

hi Rick
check clapan EA on FPA it looks very profitable I suspect they have the same strategy as GI but trading with many pairs.
any opinion..?

cheers

Hi,

I have been watching Clapan EA on FPA for a while now. Not enough history IMHO to proceed. Also, very expensive $399. I am going to wait until at least 12 weeks of history before considering anything.

What does this have to do with Forex Hacked?

Rick

[Merrygoround]

Originally Posted by rsmereka

-Balance guidelines:
--5K minimum with one pair (lots set at 0.01)
--10K minimum with two pairs (lots for each pair set at 0.01)

The above balance guidelines are fairly aggressive. Ideally, the balance should be doubled for the same lot size (10K 1 pair at 0.01 lot, 20K 2 pairs, 0.01 lot).

Lot size should only be increased when you reach the next threshold (eg: at 10K with one pair, you can go to 0.02).

Rick

"Fairly" aggressive. That made me laugh. I asked FH admin a question about this EA. They sent me a default answer with recommended lot size settings. If you call yours aggressive, what do you call these?

Recommended lotsizes:
Micro accounts

Where 0.01 = 1 cent

$100 - 0.01
$200 - 0.02
$300 - 0.03
$400 - 0.04
$500 - 0.05
$600 - 0.06
$700 - 0.07
$800 - 0.08
$900 - 0.09
$1000 - 0.1

Mini Accounts

Where 0.01 = 10 cents

$1000 - 0.01
$2000 - 0.02
$3000 - 0.03
$4000 - 0.04
$5000 - 0.05
$6000 - 0.06
$7000 - 0.07
$8000 - 0.08
$9000 - 0.09
$10000 - 0.10

Looking at the results on your myfxbook page, I can only agree with your viewpoint.
Any account smaller than 2k is in danger of being blown up sooner or later with even 0.01 lotsize, even on currencypairs considered "stable". I already blew up two accounts with FH, but now I understand why. It was party because of my greediness, but also because of huge drawdowns by this EA, if volatility is extreme (which can happen any time). Still I keep believing in this EA. It is like a beast that needs to be tamed, as someone in other forum stated.

[rsmereka]

Originally Posted by Merrygoround

"Fairly" aggressive. That made me laugh. I asked FH admin a question about this EA. They sent me a default answer with recommended lot size settings. If you call yours aggressive, what do you call these?

Recommended lotsizes:
Micro accounts

Where 0.01 = 1 cent

$100 - 0.01
$200 - 0.02
$300 - 0.03
$400 - 0.04
$500 - 0.05
$600 - 0.06
$700 - 0.07
$800 - 0.08
$900 - 0.09
$1000 - 0.1

Mini Accounts

Where 0.01 = 10 cents

$1000 - 0.01
$2000 - 0.02
$3000 - 0.03
$4000 - 0.04
$5000 - 0.05
$6000 - 0.06
$7000 - 0.07
$8000 - 0.08
$9000 - 0.09
$10000 - 0.10

Looking at the results on your myfxbook page, I can only agree with your viewpoint.
Any account smaller than 2k is in danger of being blown up sooner or later with even 0.01 lotsize, even on currencypairs considered "stable". I already blew up two accounts with FH, but now I understand why. It was party because of my greediness, but also because of huge drawdowns by this EA, if volatility is extreme (which can happen any time). Still I keep believing in this EA. It is like a beast that needs to be tamed, as someone in other forum stated.

Hi and Welcome,

I also read Forex Hacked lot size recommendations very early on when I first bought this EA. I consider their recommendation suicidal. Sure to blow up the account. The settings I am using are from Forex FBI. I started at one micro using an opening balance of 5K which caused some tense moments and I knew that 5K per micro was not enough. I think it is fairly safe at 10K per micro but it needs more time to make sure. I think at 10K per micro, the EA will produce about 20% per month and I am ok with that.

Rick

[Merrygoround]

The obvious downside of FH is its poor (rather lack of) money management . Keeping lotsize at minimum (like you are doing) is one way of reducing risk. But aren't you missing out on possible profit that way, on a daily basis? Equity protection is o/c of paramount importance, but playing on the safe side has its cost too. An additional way is to limit the max opening amount of trades. I noticed that you are running your test with max. 9 trades. It only opens 9 trades on rare occasions, on an average day it opens about 4 buy or sell trades of the same type in a row.
I limited mine to 8. I am considering to run with 0.02 lotsize, even though my equity is not up to 10.000. First I need to see if it can survive extreme volatility with max 8 trades.
Volatility occurs mostly in the London session. At this moment I am trying 0.01 during London session hours, outside of those hours I am using 0.02. It requires a little bit more monitoring and tuning, but in the long end I hope that it will pay off.

On a sidenote, I tried the masshedge function on this EA on a demo account with 100k equity. At one moment FH opened a 87 lot size to recover from a 10$ loss .

[rsmereka]

Originally Posted by Merrygoround

The obvious downside of FH is its poor (rather lack of) money management . Keeping lotsize at minimum (like you are doing) is one way of reducing risk. But aren't you missing out on possible profit that way, on a daily basis? Equity protection is o/c of paramount importance, but playing on the safe side has its cost too. An additional way is to limit the max opening amount of trades. I noticed that you are running your test with max. 9 trades. It only opens 9 trades on rare occasions, on an average day it opens about 4 buy or sell trades of the same type in a row.
I limited mine to 8. I am considering to run with 0.02 lotsize, even though my equity is not up to 10.000. First I need to see if it can survive extreme volatility with max 8 trades.
Volatility occurs mostly in the London session. At this moment I am trying 0.01 during London session hours, outside of those hours I am using 0.02. It requires a little bit more monitoring and tuning, but in the long end I hope that it will pay off.

On a sidenote, I tried the masshedge function on this EA on a demo account with 100k equity. At one moment FH opened a 87 lot size to recover from a 10$ loss .

Yes,

Running FH at reduced lot size is missing out on lost opportunities but I feel that this is the only safe way to run it. As I mentioned, I am ok with the return I am getting on this demo account. After re-calculating the returrn, FH will not even reach an average of 20%/month at 10K per micro. To keep it producing, I will have to lower this threshold.

Rick

[Merrygoround]

I will follow your advice. After two blow-ups, I have had enough failure. As the Chinese say: It is better to take many small steps in the right direction than to make a great leap forward only to stumble backward. With the proper MM, I think that this EA can be very succesful in the long run. But I blame the vendors of this EA for not warning on their site that a very big reserve is necessary. I guess that statements like that do not attract new customers.
I hope that you will keep your FH DEMO account running for several months on myfxbook, because it is the only reliable long-term performance monitor that I have seen for this EA. I am not sure if the one on the official site can be trusted.