Forex Funnel

[hotsawce]

Originally Posted by beatsme

Beucase Ive chatted with the seo of forex robots. He said they are running it this way because of broker limitations. The minimum lot size at alpari uk is 1,000 units, not 100.

He said they are not running it default and recommended settings.

The recommended is 250 at a mini account, but with nano lots.
or 2500 usd for a standard account.

and the "amount of money" makes all the difference, thats what killer talked about until now

you have to understand how the bot works, and why a well funded account is safe to trade this robot

That doesn't necessarily mean it's luck. You may think the bot performs best with your parameters but this live test seems to indicate it performs very well with these settings. It's even trading on heavy news days and it doesn't look as if it's having difficulty reading the market.

Anyway, I'd like for killerbee to give an assessment on this.

[beatsme]

he doesnt read the market.. its a math bot, he doesnt use a single signal or indicator ...

and kb will say the same things i did, he tought me

[hotsawce]

Killer-B, one more question.

Since you have FXpro and recommend it, is there anyway for us US users to use and fund it if we are not overseas? If not, would you recommend any other brokers aside from forex4you that would be good for forex funnel? I know you were disappointed with the 3 pip thing on forex4you.

I've decided to take a shot with 5k and forex funnel, but I need a non NFA broker you recommend for FF since im in the US.

[hotsawce]

Originally Posted by Killer-B

Not all brokers offer this... You are used to like FXPro locking you in at .10 = 1.11 etc -

This is the way I do it...

LOT = 1.0
Contract size: 100000 USD
Point : 11.13 USD
Margin : 200 USD
Spread : 3 p. (33.39 USD)
Swap buy: -0.163 p. (-1.814 USD)
Swap sell: -0.222 p. (-2.47 USD)

LOT = 0.10
Contract size: 10000 USD
Point : 1.113 USD
Margin : 20 USD
Spread : 3 p. (3.339 USD)
Swap buy: -0.163 p. (-0.181 USD)
Swap sell: -0.222 p. (-0.247 USD)

LOT = 0.03
Contract size: 3000 USD
Point : 0.334 USD
Margin : 6 USD
Spread : 3 p. (1.002 USD)
Swap buy: -0.163 p. (-0.054 USD)
Swap sell: -0.222 p. (-0.074 USD)

So what would you want lot size to be for a 5k account? I'm getting really confused, or I'm just confusing myself I've heard some people say .1, .01, and even .05. Which is best for FF?

Originally Posted by Killer-B

.03 - vs. - .10 .... 1/3rd the "norm" I played it VERY safe after toasting my other account the Friday before... Make sense?

Still confused..

So, exactly what lot size are you trading with now, why, and what do you recommend for a 5k starting balance and why? And would you raise it?

And, from what I understand, so far, I think you suggest 5k balance with 500:1 leverage . I'm just stuck after that; finding a broker (best i could find so far is forex4you) and settings.

[mitaji]

I always look out for Bots that fully explain how they work. If you wanted to you can even trade this system manually. On another note I believe you shouldnt be trading forex with money you cant afford to loose. Dont take this for granted. I dont get it, this is a very simple system fully explained by KB. All these doubt and questions I suspect are from people who want to use more risk or more money than they can afford to for reasons best known to themselves.

[Gr41]

Originally Posted by gross77777

KB,

I am running a demo account that I started on 11/6 with 5,000 trading 0.01 and so far it made only $ 41 , which is less than 1 %.With returns like this there is no way I will turn in it into $ 76,000 in 5 months.Am I missing something here ?

Thank you

I make about $7 a day with a 0.01 start with forex.com as my broker , Its possible that your broker is really set at 0.001 for a micro account. with 4 pair I make about $30 a day, but risk blowiing up the account, Im still stopping it on big news days, cause this time I only fund it with $750 ( demo this time)

[hotsawce]

Originally Posted by mitaji

I always look out for Bots that fully explain how they work. If you wanted to you can even trade this system manually. On another note I believe you shouldnt be trading forex with money you cant afford to loose. Dont take this for granted. I dont get it, this is a very simple system fully explained by KB. All these doubt and questions I suspect are from people who want to use more risk or more money than they can afford to for reasons best known to themselves.

No, I'm just trying to understand the bot better and KB's recommended settings since they made him a great amount of money. I have money I can afford to lose, but that doesn't mean I shouldn't be well informed. I want to avoid setting up the bot sub optimally. If you're going to flame me, and others, for asking questions, perhaps you should leave this thread.

So anyway, this is what I understand so far with this bot:

FF performs best when well funded, and it should only trade USD/JPY. It is recommended to start with 5K and 500:1 leverage .

1. Now, I'd like to know the recommended lot size for this. That's the part I was confused on. Judging by that chart Killer B did, it would be .05. However, it seems most people are trading with .01. What's best?

2. Additionally, I'm having difficulty finding a non-NFA US broker best for this bot (I'm wagering it works best when it can hedge .) Are there any recommendations that have a lower spread on the USD/JPY pair than forex4you? I've read KillerB's post that stated the 3 pip spread was somewhat problematic; I'd like to avoid this if possible.

[hotsawce]

Originally Posted by beatsme

he doesnt read the market.. its a math bot, he doesnt use a single signal or indicator ...

and kb will say the same things i did, he tought me

Beatsme-

What broker are you using, what are the spreads on USD/JPY pair, and what lot size are you trading with? I am about to take the plunge.

Also, this works with Metatrader 4, right? I was looking over it and MT4 doesn't offer 500:1 leverage on it's account. How does this work.

[beatsme]

im demoing it at ibfx, the spread is 3, sometimes 2...

im demoing with 500 usd at their miniaccount, thats supports nano lots.. so i can keep the 5000:1 money ratio that kb suggests... because they are nfa im doing only shorts, and because nfa the leverage will be 100:1 max... so im trying it that way.. but kb suggest 500:1 leverage

im sticking with ibfx because they offer nano lots.. so its possible to start with 500usd, but if you plan to start with 5000 you have more options...

im using the minimum lot 0.01 (for ibfx thats 100 units, for some other brokers its 1,000 units, if its 1,000 you need 5000usd at your account)

hope it was clear for you, and dont expect kb sson here... he is on a vacation

[hotsawce]

Originally Posted by beatsme

im demoing it at ibfx, the spread is 3, sometimes 2...

im demoing with 500 usd at their miniaccount, thats supports nano lots.. so i can keep the 5000:1 money ratio that kb suggests... because they are nfa im doing only shorts, and because nfa the leverage will be 100:1 max... so im trying it that way.. but kb suggest 500:1 leverage

im sticking with ibfx because they offer nano lots.. so its possible to start with 500usd, but if you plan to start with 5000 you have more options...

im using the minimum lot 0.01 (for ibfx thats 100 units, for some other brokers its 1,000 units, if its 1,000 you need 5000usd at your account)

hope it was clear for you, and dont expect kb sson here... he is on a vacation

It actually made a lot of sense to me. Can you use forex4you with that ratio in a miniaccount? If so, I'll start with a smaller account in forex4you since they are not NFA regulated.