Forex Hacked

[rsmereka]

Originally Posted by 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.

I will keep the Forex Hacked demo running until I either go with a live account or I give up on the EA completely. I won't run FH on a live account until I am convinced that it will run safely in the long-term (whenever that is).

The equity on the demo account is approaching the 10K mark, at which point , I will increase the lot starting lot size to two micros (0.02). The most dangerous time for FH is when the lot size is increased.

Rick

[bayon]

hello Rick

with over usd 10k account FH should have enough room to play with even at 0.02 lot size...
I have quite a similar account with AVAfx and FH is doing well, one pair gbpusd 0.02 lot..
and congrats again for GI success.

regards

[rsmereka]

Originally Posted by bayon

hello Rick

with over usd 10k account FH should have enough room to play with even at 0.02 lot size...
I have quite a similar account with AVAfx and FH is doing well, one pair gbpusd 0.02 lot..
and congrats again for GI success.

regards

Thanks for your kind words,

I have not as yet posted the change here but Monday evening (once the GBPUSD pair calmed down), I increased the starting lot size to 0.02. I concluded the same as you.

We shall see in the coming weeks/months how much floating DD results from this change. The account has already perked up and is back to it's 25% or so per month.

I still want to run this EA a lot longer on a demo. I am very skiddish about putting this EA on a live/real money account but I may try GoMarkets where I can get a micro (0.01) starting lot size with no weird maximum lot size (the Alpari UK mini account allows a 0.01 starting lot size but you cannot have more than 2 standard lots (2.0) in play at once and the standard Alpari UK account (classic) has a minimum starting lot size of one mini (0.10).

Rick

[bayon]

Originally Posted by rsmereka

Thanks for your kind words,

I have not as yet posted the change here but Monday evening (once the GBPUSD pair calmed down), I increased the starting lot size to 0.02. I concluded the same as you.

We shall see in the coming weeks/months how much floating DD results from this change. The account has already perked up and is back to it's 25% or so per month.

I still want to run this EA a lot longer on a demo. I am very skiddish about putting this EA on a live/real money account but I may try GoMarkets where I can get a micro (0.01) starting lot size with no weird maximum lot size (the Alpari UK mini account allows a 0.01 starting lot size but you cannot have more than 2 standard lots (2.0) in play at once and the standard Alpari UK account (classic) has a minimum starting lot size of one mini (0.10).

Rick

hi Rick

you can check with Avafx they have micro lot size and 500 leverage for micro account and 300 for standard.
they do give you a AVA fx debit card which could be very convenient..

[rsmereka]

Originally Posted by bayon

hi Rick

you can check with Avafx they have micro lot size and 500 leverage for micro account and 300 for standard.
they do give you a AVA fx debit card which could be very convenient..

Thanks,

But I have a broker that will give me a standard account with a minimum lot size of one micro (0.01) and no weird maximum lot size like Alpari UK has on their mini account.

Rick

[rsmereka]

Reference

Rick

[rafizi]

Hi Rick

It's been a while since I posted here. Quite impressive seeing Forex Hacked weather yesterday's storm. Would you personally keep the starting lot at 0.02 because for a live account as I'm pretty sure a bigger move(let's face it yesterday was a walk in the park for a monster pair like GBPUSD) would blow it up in no time.

[rsmereka]

Originally Posted by rafizi

Hi Rick

It's been a while since I posted here. Quite impressive seeing Forex Hacked weather yesterday's storm. Would you personally keep the starting lot at 0.02 because for a live account as I'm pretty sure a bigger move(let's face it yesterday was a walk in the park for a monster pair like GBPUSD) would blow it up in no time.

Yesterday's move was big,

But I have seen bigger. That is why I have been running my demo so long. To make sure that my formula of 5K per micro will work in the long term. The other reason is practical. I can't find a suitable broker that will allow a large deposit with high leverge (500:1) and a small initial lot size (in micros). Alpari micro account has a limit of 2 standard lots in play at any time so that won't work. My other live account with GoMarkets scales their leverage as your account increases. Above 25-100K the leverage is 300:1 which I don't think will be good enough (I don't want to take any unnecessary chances). Someone also recommended InstaForex which looks like they have all the requirements but upon investigation, they are Russian and FPA classify's them as a scam. So I'm back to square one.

Rick

[rafizi]

Originally Posted by rsmereka

Yesterday's move was big,

But I have seen bigger. That is why I have been running my demo so long. To make sure that my formula of 5K per micro will work in the long term. The other reason is practical. I can't find a suitable broker that will allow a large deposit with high leverge (500:1) and a small initial lot size (in micros). Alpari micro account has a limit of 2 standard lots in play at any time so that won't work. My other live account with GoMarkets scales their leverage as your account increases. Above 25-100K the leverage is 300:1 which I don't think will be good enough (I don't want to take any unnecessary chances). Someone also recommended InstaForex which looks like they have all the requirements but upon investigation, they are Russian and FPA classify's them as a scam. So I'm back to square one.

Rick

That's the thing with Alpari. They fool EA newbies with ECN/NDD style execution and high leverage on demo only to find that it's not so hot when they open a live micro account. It's no coincidence most EA vendors use Alpari demo accounts, they're the best (demo wise that is). Have u considered IBFX AU? Given their spread 's a bit higher but you can go 0.01 even on a standard acccount and 1:400 leverage . Certainly a safer bet than these offshore Russian types! Otherwise GoMarkets looks OK if u dont mind opening multiple accounts and withdraw regularly(which is important with this EA)

[rsmereka]

Originally Posted by rafizi

That's the thing with Alpari. They fool EA newbies with ECN/NDD style execution and high leverage on demo only to find that it's not so hot when they open a live micro account. It's no coincidence most EA vendors use Alpari demo accounts, they're the best (demo wise that is). Have u considered IBFX AU? Given their spread 's a bit higher but you can go 0.01 even on a standard acccount and 1:400 leverage . Certainly a safer bet than these offshore Russian types! Otherwise GoMarkets looks OK if u dont mind opening multiple accounts and withdraw regularly(which is important with this EA)

IBFX US was my second broker . The one I used with FAP Turbo in 2008-2009 and they were terrible. I went to the IBFX AUS site and there is absolutely no information there. No spread data, no leverage data, no account types, no minimum deposit info, no max deposit info, no min lot size info, no max lot size info and no ability to chat (pre-sales). There is chat for trading support or funding department support.

Terrible, no real data on accounts leverage and spread whatsoever.

Rick