Rsmereka Trading Journal

[pipdetector]

Did you get a message with a signal? I mean a dialog window saying "Do it"? I am asking because I do not know exactly how LMT works...

[rsmereka]

Originally Posted by pipdetector

Did you get a message with a signal? I mean a dialog window saying "Do it"? I am asking because I do not know exactly how LMT works...

The LMT EA issues an MT4 alert box.

Rick

[rsmereka]

It was a quiet week with Ambush. Only one trade which did better than expected. I added back MegaDroid to my live account on Thursday just in time for my first loss with that EA (37 pips). To open that sell trade in the middle of a big bull move was silly anyway.

Week: $198.56, 4%, $39.71/day

The one LMT trade in my demo account (EURUSD) is doing well (pushing 400 pips).

My test using the VForce Like EA V2 is also doing well but its only a week into the test.

Rick

[pipdetector]

Agree about the MD trade (I also lost on it). I wonder why it keeps not trading when the market is quite quiet (which seems good for scalping) and then throws a trade when there is a tidal wave of a new trend . Is this what they call "artificial intelligence"

Thanks on the tip regarding the LMT signal dialog.

I researched a bit more on it and put it on my live account and it seems that the stoplosses are much tighter than I expected. With the brokers that use 4 digit precision numbers the daily SLs are 100-200 pips. The super large stop losses are shown on the brokers that use 5 digit precision numbers. So 2000 pips with the latter is "normal" 200 pips.

[rsmereka]

Originally Posted by pipdetector

Agree about the MD trade (I also lost on it). I wonder why it keeps not trading when the market is quite quiet (which seems good for scalping) and then throws a trade when there is a tidal wave of a new trend . Is this what they call "artificial intelligence"

Thanks on the tip regarding the LMT signal dialog.

I researched a bit more on it and put it on my live account and it seems that the stoplosses are much tighter than I expected. With the brokers that use 4 digit precision numbers the daily SLs are 100-200 pips. The super large stop losses are shown on the brokers that use 5 digit precision numbers. So 2000 pips with the latter is "normal" 200 pips.

Opps,

I forgot about the 5 decimal thing with Alpari. Thanks for the reminder. That changes everything. First thing when the market opens tomorrow, I'll have to move my SL to break even.

A word of warning about their EA and a possible VPS/memory consumption. The author suggests 10 pairs. The LMT EA multiplied by 10 will consume lots of PC memory. I have been having problems with my VPS (it's the basic one at 512MB RAM) ever since I added some (I only added 4 out of the 10) of the LMT charts. I cannot have all LMT charts open at the same time. The EA is just used for entry anyway. Once the order is placed, it can be closed as long as you watch the daily bars as they form and keep an eye on a possible exit.

Rick

[pipdetector]

Regarding the VPS/memory consumption:

I agree that this EA is for trade entries so I prefer to use it on my desktop computer which is opened when I am available for trading (the trade has to be done manually anyway). VPS makes more sense for EAs like GT-Shadow that trade all day long.

As to memory consumption on a desktop, I went along the advice of the authors and changed time frame to 1 min so that I could check the signal notification--in a moment the computer became very slow to react. When I checked the memory usage the MT4 terminal showed ca 0,5 GB in Task Manager :-)

[jerrycollie]

On Thursday my Megadroid lost 36 pips in a hard stop. I manually closed Megadroid's second trade at a loss of 26 pips after the trade ran for about 6 hours..

[rsmereka]

Originally Posted by pipdetector

Regarding the VPS/memory consumption:

I agree that this EA is for trade entries so I prefer to use it on my desktop computer which is opened when I am available for trading (the trade has to be done manually anyway). VPS makes more sense for EAs like GT-Shadow that trade all day long.

I agree. I was thinking of doing the same thing. Once the lot size and stop are calculated, the trade can be placed.

Originally Posted by pipdetector

As to memory consumption on a desktop, I went along the advice of the authors and changed time frame to 1 min so that I could check the signal notification--in a moment the computer became very slow to react. When I checked the memory usage the MT4 terminal showed ca 0,5 GB in Task Manager :-)

Anytime you have a memory intensive EA, shorter time frames will make it worse.

Originally Posted by jerrycollie

On Thursday my Megadroid lost 36 pips in a hard stop. I manually closed Megadroid's second trade at a loss of 26 pips after the trade ran for about 6 hours..

I hope you have the risk setting low because you never know when it will happen or how many losses you will suffer.

Rick

[rsmereka]

I just dropped FAP Turbo (again). I was only trading it in my demo account anyway. I also dropped MegaDroid on my demo account but I am trading this EA in my live account.

I am trying to free up enough memory in my VPS to open all 11 LMT daily charts on in my demo account. I have managed to do this and so far, so good.

The author of the LMT system sent me an email with another mechanical trading system called Power Band. It trades also on H4 or D1 charts. It looks interesting. I will be testing this system in a demo account. Check this system out in this pdf.

Rick

[pipdetector]

I followed the suit. I dropped FAP after I got another batch of sizable losses and a small series of hits. I still use MD on live account.

So far the only EA that is deliverying is GT-Shadow with EURCHF and AUDNZD. At this point the drawdown is getting smaller and the balance is 20% higher than initially (in 2 months).