Rsmereka Trading Journal

[rsmereka]

Originally Posted by pipdetector

Dan, I guess RSI Expert seems the right antidotum for the dwindled accounts that RoboMiner users are experiencing now! At this rate , I could be back to breakeven in a couple of weeks Let me know where I can get my hands on the EA.

I guess the key is the fact that you are demoing it. Scalpers do not far so well on real accounts, but who knows...

I think the EA that Dan is talking about (RSI Expert) is from tradingsystemforex.com in which case, you have to caugh-up $100 for a year membership to the Elete forum which gives you access to all the free EA's there.

Check http://www.tradingsystemforex.com/to...t-advisors.htm for a list of top free EA's. The Channel Scalper is #1.

Rick

[rsmereka]

Originally Posted by ApacheDan

Oh man, I'm so sorry to hear that Rick. Been there, done that...never feels good. For me, my #1 demo of the week is RSI Expert v1.05 on 1M charts. Just started Sunday, 35 closed transactions, 8 open as of right now...started balance 5,000, current 5747 with equity of 5608. Drawdown of only 5.02% only. Just started on 5M charts & similar results, but less transactions. It's been less than a week and we are up 14.95%! I think I'm going to go public with MYFXBOOK...not sure how to do it..I'm new to this site.

Good luck Rick, you need to rebound ...that's Forex life Dan

Tanks for your condolences.

I am working on a rebound right now but it may take a while.

Rick

[rsmereka]

It was a terrible week with my live account. I had to pay the piper for running Robominer too hot. I realized that my account was in jeopardy and did a force close of all Robominer open trades (at least I got to test the emergency close feature of my new EA AvoidSwap). 20,000 pips later, I was left with a measly 2.5K. Results:

Account performance, all EA's
total trades: 60
won: 23
lost: 36
net profit: $-15424.39
roi: -85.71%
pips: -19884.8
Performance of EA Robominer AUDNZD
total trades: 22
won: 0
lost: 22
net profit: $-12004.5
roi: -66.71%
pips: -16114.1
Performance of EA EURCHF
total trades: 14
won: 0
lost: 14
net profit: $-3680.75
roi: -2.05%
pips: -3995.2
Performance of EA Robominer (both pairs)
total trades: 36
won: 0
lost: 36
net profit: $-15685.25
roi: -87.16%
pips: -20109.3
Performance of EA MegaDroid
total trades: 2
won: 2
lost: 0
net profit: $54.19
roi: 0.3%
pips: 20.1
Performance of EA The Channel Scalper
total trades: 0
Performance of EA EB-Turbo (turbo strategy)
total trades: 22
won: 21
lost: 0
net profit: $206.67
roi: 1.15%
pips: 204.4

At the same time, I also did a force close of all my demo Robominer open trades. The damage to the demo account was much less severe since I stopped using Robominer on my demo account months ago. Results:

Account performance, all EA's
total trades: 39
won: 24
lost: 15
net profit: $-6563.81
roi: -75.56%
pips: -7384.9
Performance of EA Robominer AUDNZD
total trades: 5
won: 0
lost: 5
net profit: $-3035.23
roi: -24.25%
pips: -4003.6
Performance of EA Robominer EURCHF
total trades: 9
won: 0
lost: 9
net profit: $-3004.53
roi: -34.55%
pips: -3265.6
Performance of EA Robominer (both pairs)
total trades: 14
won: 0
lost: 14
net profit: $-6039.76
roi: -58.8%
pips: -7269.2
Performance of EA The Channel Scalper
total trades: 4
won: 4
lost: 0
net profit: $414.66
roi: 3.47%
pips: 16.0
Performance of EA EB-Turbo (turbo stragegy)
total trades: 20
won: 20
lost: 0
net profit: $1273.84
roi: 11.44%
pips: 171.1
Performance of EA Cash Cruiser
total trades: 0

Rick

[ApacheDan]

Originally Posted by rsmereka

It was a terrible week with my live account. I had to pay the piper for running Robominer too hot. I realized that my account was in jeopardy and did a force close of all Robominer open trades (at least I got to test the emergency close feature of my new EA AvoidSwap). 20,000 pips later, I was left with a measly 2.5K.
Rick

Rick, I want to learn from others people's experiences in order to make my own system better. I read somewhere that all big losses start as a small loss. I also read that EA's are meant as tools, but you should still mantain control.

I think what I'm going to do is watch all open trades created by my EA's and manually stop all positions that are getting in the red...beyond my comfort zone. For example; I ended up the week with RSI Expert showing bal of 5866, equity of 5613. It takes gains around 30 pips a trade, but it was left with an open trade of (246). If my comfort level is around (250) I could stop this and still have a nice profit for the week and the peace of mind of pure equity....or run the risk of a large drawdown ...and plenty of those can add up to a terrible position like you just experienced. I think that mantaining a healthy balance will give a better chance for the EA to recover and do its work. I think Robominer is not bad...it just needs some pampering.Does this logic make sense?
Dan

[rsmereka]

Originally Posted by ApacheDan

Rick, I want to learn from others people's experiences in order to make my own system better. I read somewhere that all big losses start as a small loss. I also read that EA's are meant as tools, but you should still mantain control.

I think what I'm going to do is watch all open trades created by my EA's and manually stop all positions that are getting in the red...beyond my comfort zone. For example; I ended up the week with RSI Expert showing bal of 5866, equity of 5613. It takes gains around 30 pips a trade, but it was left with an open trade of (246). If my comfort level is around (250) I could stop this and still have a nice profit for the week and the peace of mind of pure equity....or run the risk of a large drawdown ...and plenty of those can add up to a terrible position like you just experienced. I think that mantaining a healthy balance will give a better chance for the EA to recover and do its work. I think Robominer is not bad...it just needs some pampering.Does this logic make sense?
Dan

Dan,

The basic fact is that most people cannot manually trade. Their personal interpretation and emotions get in the way. Unless you have learned to manually trade and know you can do this, it is not a good idea to interfere with the EA's logic. Add to this that you would also need to be 100% aware and understand the EA's logic.

Us using EA's, we have a distinct advantage. We get to trade without any emotions or judgments getting in the way. Unless to know exactly what you are doing and have a plan for every possible contingency and you can trade manually without getting your personality involved, don't do it. I don't agree with the person that said that we should maintain control.

If the EA you are using is doing something that you are uncomfortable, I would say that you are using the wrong EA. The EA's that you use must exist in your comfort zone. I talk a lot about an EA's dark side which can be defined as any behavior on the part of the EA that violates your comfort zone. This is why we should be putting the EA on a demo account for months before going live, to observe it's dark side and make sure we can live with it as well as the EA being profitable.

True, EA's are not perfect and cannot account for all market conditions but how an EA's reacts in adverse conditions is part of how the EA behaves. We can, to some extent, mitigate poor EA decisions by keeping the lot size down.

I know this is not exactly what you wanted to hear and some people may disagree with me. IMHO.

Rick

[rsmereka]

I just purchased Primeval-EA and put it on my demo account. Refer to my review of the Primeval-EA for an overview of the EA, what pairs it trades and my settings.

I also removed EB-Turbo and Cash Cruiser from my demo account. I am trading EB-Turbo on my live account so I do not necessarily require it also on my demo account. I removed Cash Cruiser because it is a grid trader that hangs onto it's trades accumulating DD. After my bad experience with Robominer, I am grid trading adverse. I don't mind testing them on my demo account but I have no intention of putting any of these EA's on my live account.

Rick

[rsmereka]

It was a fairly quiet week trading my live account. EB-Turbo only had 3 trades which is the lowest that I have yet seen in a live or demo account. The Channel Scalper finally woke up just before the closing bell. Results:

Account performance, all EA's
total trades: 6
won: 4
lost: 0
net profit: $38.85
roi: 1.52%
pips: 13.0
Performance of EA MegaDroid
total trades: 2
won: 2
lost: 0
net profit: $15.74
roi: 0.62%
pips: 8.3
Performance of EA The Channel Scalper
total trades: 1
won: 1
lost: 0
net profit: $22.48
roi: 0.87%
pips: 4.0
Performance of EA EB-Turbo (turbo strategy)
total trades: 3
won: 1
lost: 0
net profit: $0.63
roi: 0.03%
pips: 0.7

It was a good but wild week trading my demo account. I manually closed 2 Cash Cruiser trades (at over a 2K loss) when I removed it. Primeval-EA did a very good job considering that it only traded 3 days (Wed-Fri). My Cash Cruiser loss was primary made up right before the closing bell by The Channel Scaler which had one set of three huge wins (over 11 lots each ). Results:

Account performance, all EA's
total trades: 47
won: 37
lost: 10
net profit: $615.57
roi: 4.52%
pips: 143.9
Performance of EA The Channel Scalper
total trades: 3
won: 3
lost: 0
net profit: $2012.21
roi: 17.52%
pips: 12.0
Performance of EA EB-Turbo (turbo strategy)
total trades: 3
won: 3
lost: 0
net profit: $197.04
roi: 1.94%
pips: 20.4
Performance of EA Cash Cruiser
total trades: 3
won: 1
lost: 2
net profit: $-2060.92
roi: -19.39%
pips: -228.2
Performance of EA Primeval-EA(EURUSD scalp)
total trades: 2
won: 2
lost: 0
net profit: $25.73
roi: 0.24%
pips: 8.2
Performance of EA Primeval-EA(GBPUSD scalp)
total trades: 2
won: 2
lost: 0
net profit: $3.1
roi: 0.03%
pips: 1.4
Performance of EA Primeval-EA(EURGBP scalp)
total trades: 5
won: 4
lost: 1
net profit: $59.65
roi: 0.59%
pips: 8.0
Performance of EA Primeval-EA(USDCHF scalp)
total trades: 3
won: 1
lost: 2
net profit: $11.29
roi: 0.11%
pips: 2.5
Performance of EA Primeval-EA(EURCHF scalp)
total trades: 3
won: 2
lost: 1
net profit: $5.98
roi: 0.05%
pips: 0.4
Performance of EA Primeval-EA(GBPCHF scalp)
total trades: 2
won: 1
lost: 1
net profit: $7.6
roi: 0.07%
pips: 3.4
Performance of EA Primeval-EA(USDCAD scalp)
total trades: 1
won: 1
lost: 0
net profit: $33.48
roi: 0.33%
pips: 5.2
Performance of EA Primeval-EA(USDJPY scalp)
total trades: 1
won: 1
lost: 0
net profit: $15.24
roi: 0.15%
pips: 2.3
Performance of EA Primeval-EA(EURCHF grid)
total trades: 0
Performance of EA Primeval-EA(GBPUSD hedge )
total trades: 19
won: 16
lost: 3
net profit: $305.17
roi: 2.88%
pips: 308.3
Performance of EA Primeval-EA(all pairs/strategies)
total trades: 38
won: 30
lost: 8
net profit: $467.24
roi: 4.45%
pips: 339.7
Performance of EA Primeval-EA(all pairs scalp only)
total trades: 19
won: 14
lost: 5
net profit: $162.07
roi: 1.57%
pips: 31.4

Rick