Rsmereka Trading Journal

[jerrycollie]

Hi Rick,
Thanks a lot for the info on your Megadroid loss. It confirms the behavior I have seen in Megadroid. If it does not close the trade by 1 AM GMT, it goes into a death spiral for a big loss. I had already decided to manually close any MD trades which do not close promptly.

[rsmereka]

Originally Posted by jerrycollie

Hi Rick,
Thanks a lot for the info on your Megadroid loss. It confirms the behavior I have seen in Megadroid. If it does not close the trade by 1 AM GMT, it goes into a death spiral for a big loss. I had already decided to manually close any MD trades which do not close promptly.

You are welcome Jerry,

I have also seen MegaDroid have multiple losses in a row on other brokers but, thankfully, not on Alpari UK...yet. The multiple losses scenario is the reason I keep the risk so low and I am unwilling to raise it too high.

Rick

[jerrycollie]

Hi Rick,
Yes, I had two big losses with Megadroid two days in a row a couple of months ago. I have 6 Megadroid clones running. All 6 went long at the same time, live on IBFX on Monday for an average of 12 pips, aggressive mode.

[pipdetector]

Jerry,

If you have several copies that go long at the same time your risk level is not 0,05 as with one copy of MD, but its corresponding multiple. So if all your copies are set with risk level 0,05 and you are running 6 clones your effective risk level is 0,3 which is pretty high. You mentioned in the other thread that scalpers use unsustainable stop losses, however using the multiple copies you are compounding not only profits but also... risk.

[jerrycollie]

Hi Pipdetector,
Yes, you are correct.
However, I have compensated by spreading my risk level over the 6 clones. Usually they do not all trade on the same day; so I am able to run a little hotter than with just one Megadroid. As I have mentioned above, I intend to manually close any MD trades which do not close on time, like if the trade runs past 01:00 GMT; so this also compensates. If worse comes to worse and I blow up, I will just have to write my broker another check. It happened once before, when I first started trading about 3 years ago. I blew away $3,000 trading manually and got margined out. I was in shock; but like Rick says, it is only money. When my palms start to sweat, then I know I am running too hot!

[rsmereka]

Originally Posted by jerrycollie

Hi Pipdetector,
Yes, you are correct.
However, I have compensated by spreading my risk level over the 6 clones. Usually they do not all trade on the same day; so I am able to run a little hotter than with just one Megadroid. As I have mentioned above, I intend to manually close any MD trades which do not close on time, like if the trade runs past 01:00 GMT; so this also compensates. If worse comes to worse and I blow up, I will just have to write my broker another check. It happened once before, when I first started trading about 3 years ago. I blew away $3,000 trading manually and got margined out. I was in shock; but like Rick says, it is only money. When my palms start to sweat, then I know I am running too hot!

Right on Jerry,

It's only money.

If you can't afford to lose, you can't afford to win.

Don't watch the trading. Get a VPS. Check your progress twice a day. I am not quite at this point but each day, I am getting closer to no-stress forex

Rick

[rsmereka]

Another under-performing week with my live account. At least the week was profitable. I am thankful for that. I had three closed Robominer trades.

Week: $78.77, 0.90%, $15.75/day

Winalot is not doing well on my demo account after 12 trades, 6 wins and 6 losses. With losses of over $2,500. I am not sure that this EA will make it through a complete month.

Rick

[jerrycollie]

Hi Rick and Pipdetector,
The last 2 weeks of August I have been running my 3 new robots live on IBFX:
Forex Monster shorting EUR/GBP: 3 wins +135 pips, 5 losses -164 pips.
Forex Decimator long on EUR/USD: 12 wins +170, 10 losses -179.
IvyBot shorting USD/JPY: 10 wins +333, 3 losses -88.
IvyBot long on EUR/USD: 1 win +24, no losses.
IvyBot shorting USD/CHF: no trades.
IvyBot long on EUR/JPY: no trades.
So I recommend IvyBot short on USD/JPY.

[rsmereka]

Originally Posted by jerrycollie

Hi Rick and Pipdetector,
The last 2 weeks of August I have been running my 3 new robots live on IBFX:
Forex Monster shorting EUR/GBP: 3 wins +135 pips, 5 losses -164 pips.
Forex Decimator long on EUR/USD: 12 wins +170, 10 losses -179.
IvyBot shorting USD/JPY: 10 wins +333, 3 losses -88.
IvyBot long on EUR/USD: 1 win +24, no losses.
IvyBot shorting USD/CHF: no trades.
IvyBot long on EUR/JPY: no trades.
So I recommend IvyBot short on USD/JPY.

Hi Jerry,

Monster is not doing well lately (review here) and Decimator is doing worse (review here). IvyBot is an interesting case (review here) although the demo I have seen is only trading EURUSD (I think) and it has made only one trade since Aug 3rd.

I am keeping an eye on Forex Humanoid (review here), 9 trades since Jul 23rd, all winners and Forex Insider Pro (review here).

In the meantime, I have 6.8 years till I retire a millionaire using the Retirement EA ($2K start, 100% per year, 1Mil after 9 years, details here)

Forex party on dudes ,
Rick

[pipdetector]

Originally Posted by rsmereka

In the meantime, I have 6.8 years till I retire a millionaire using the Retirement EA ($2K start, 100% per year, 1Mil after 9 years, details here)

Yes, this is when I start wondering too. This cannot be that simple... When everybody starts using this pension fund builder AUD/NZD price range may start breaking. Just imagine me, you, Jerries and couple of other trading AUD/NZD pair with 1M accounts. Plus hundreds of other gold afficionados lured by more and more Goldmine advertising campaign and enthusiastic reviews...