Rsmereka Trading Journal - Page 41 - Pip Cop

**pipdetector** · 2010-05-13, 09:43 AM

It seems that it could be a proper place for MD Pro and FAPT (it is doing quite well on GBPUSD). I wonder to what extent the "queues" are sophisticated market ploy... I went over FPA reviews for Collective FX and there were some entries that were not so good.

**rsmereka** · 2010-05-13, 02:02 PM

Quote:

Originally Posted by pipdetector

It seems that it could be a proper place for MD Pro and FAPT (it is doing quite well on GBPUSD). I wonder to what extent the "queues" are sophisticated market ploy... I went over FPA reviews for Collective FX and there were some entries that were not so good.

FPA was one of the places I did a lot of research. I also noticed some really good reviews and some bad. Four stars overall though. Not a lot of reviews, only 24. More average stars than most brokers.

I read a lot of comments over at DonnaForex about FAPT on CollectiveFX doing really well. My impression is that it's a good home for scalpers.

I also read a lot about a CollectiveFX clone called OneCorp. The FPA review is here. Slightly less stars and only 12 reviews. OneCorp attempts to do the same thing as CollectiveFX. There was a lot of comments, however, about OneCorp demo feed being entirely different than the live feed (which is the case with every broker

I have tested with except CollectiveFX [supposedly]).

Can you explain what you mean by "queues"?
Rick

**rsmereka** · 2010-05-14, 09:02 PM

Another good week trading my live account. Both MegaDroid and The Channel Scalper put in strong, profitable results. The Channel Scalper had a set (of 3) losing trades but they were very small losers. Results:

Account performance, all EA's
total trades: 12
won: 9
lost: 3
net profit: $202.54
roi: 7.6%
pips: 48.6
Performance of EA MegaDroid
total trades: 3
won: 3
lost: 0
net profit: $83.96
roi: 3.08%
pips: 27.6
Performance of EA The Channel Scalper
total trades: 9
won: 6
lost: 3
net profit: $118.58
roi: 4.52%
pips: 21.0

The mirror of my live account running on a demo CollectiveFX account did a great job this week even though it only traded three days. It has easily outperformed my live Alapri UK account. Right now, the return is up 7.68%.

It's looks like I may have my chance to get a live CollectiveFX account sooner than later. I received an email today saying that my turn on the list is coming up in the next few days. Now I have to decide whether to transfer my entire equity all at once or split it in half and run both live accounts to verify. If I decide to split, I'll have to buy another MegaDroid license.

It was a losing week trading my live account. Caliber FX Pro has gone into a losing streak especially yesterday and today. Results:

Account performance, all EA's
total trades: 37
won: 15
lost: 19
net profit: $-2000.94
roi: -11.49%
pips: 322.2
Performance of EA Heikenizer
total trades: 9
won: 5
lost: 1
net profit: $261.61
roi: 1.38%
pips: 604.3
Performance of EA Caliber FX Pro (EURUSD)
total trades: 21
won: 8
lost: 13
net profit: $-1187.01
roi: -7.14%
pips: -73.0
Performance of EA Caliber FX Pro (GBPUSD)
total trades: 4
won: 1
lost: 3
net profit: $-838.82
roi: -4.2%
pips: -117.8
Performance of EA Caliber FX Pro (USDJPY)
total trades: 2
won: 1
lost: 1
net profit: $-236.72
roi: -1.29%
pips: -31.3
Performance of EA Caliber FX Pro (all pairs)
total trades: 27
won: 10
lost: 17
net profit: $-2262.55
roi: -12.63%
pips: -222.1

Rick

**rsmereka** · 2010-05-17, 10:39 AM

I have decided not to proceed with a live CollectiveFX account. They do allow micro accounts but the leverage

is 100:1. Considering that I have two scalpers in my live account which open trades with large lot sizes, this is not a good leverage

for me.

I have also just added Forex Maximizer and Forex Maximizer Advanced EA's to my live account. Since there is no MM in these EA's, I am going with a fixed lot of one mini per 2K equity.

I have also increased the MegaDroid risk from 0.20 to 0.25.

Rick

**rsmereka** · 2010-05-20, 11:02 AM

Forex Maximizer did not even last a week on my live account. I just removed it after it eat almost $630 from my live account.

Rick

**rsmereka** · 2010-05-24, 11:57 AM

Last night, I started up all of my MT4 instances and then logged off from my VPS. Several hours later, I checked my statements online and my live account was not updating. I logged onto my VPS and my live account MT4 instance was not running. I started it wondering if I ever did start it earlier and logged off the VPS.

This morning, I checked my statements again and again the live account statement was not updating so I again logged onto my VPS and again my live account MT4 instance was not running.

I started it and this time sat there and watched it. Now this MT4 instance is pushing the statement to two places. One through the MT4 publisher to my ftp site and one through the MyFXBook EA. Exactly five minutes later MT4 closed. No crash, no nothing, it just closed. I figured that the MyFXBook EA was doing this so I closed the chart that contained this EA and the problem went away.

I have been running the MyFXBook EA for several weeks without any issues. I am going to have to contact MyFXBook support about this. More later. For now, the MyFXBook live account (link in my signature is not updating).

Rick

Update:
There is no support email or link on the MyFXBook site. A Google search also uncovered nothing. So I guess I am out of luck. I will be deleting my live account with MyFXBook.

**rsmereka** · 2010-05-25, 09:31 AM

I just increased the MegaDroid risk in my live account to 0.30 (30%).

I was planning to do this last Sunday but forgot. No harm anyway since MegaDroid did not trade for me last night.

Rick

willhuang · 2010-05-26, 11:11 PM

Hey Rick

Nice journal! im totally new to this EA and forex thing and lets just say im pretty.... hesitant and excited at the same time haha..

just a quick question tho, which us broker

do you recommand? thx in advance!

will

**rsmereka** · 2010-05-27, 09:02 AM

Quote:

Originally Posted by willhuang

Hey Rick

Nice journal! im totally new to this EA and forex thing and lets just say im pretty.... hesitant and excited at the same time haha..

just a quick question tho, which us broker

do you recommand? thx in advance!

will

Thanks will and Welcome,

I have been with Alpari UK for over a year and although they are not perfect, I like them and they have done a good job for me.

You being a US resident is more complex. Alpari UK will not open any accounts for US residents and Alpari US is so totally different (read terrible) than Alpari UK.

I guess it all depends on what EA (robot) you are going to run. I suggest that you pick your EA first, then pick a broker

for a demo account then test run and watch and last pick your live account broker

. Ask the US people here about brokers. Keep in mind that just about all brokers have a demo feed that is different than a live feed so your performance on a demo account just resembles what you can expect on live account.

Above all, read a lot and ask questions. The posts here are mainly indented for people to learn from (IMHO) and, secondarily, as a communication medium.

Rick

willhuang · 2010-05-27, 09:31 AM

hehe i do like the way you think!

well yesterday, after i was literally on your journal for hours, i became an elite member of trading system forex and went ahead and got channel scrapper 1.11 using your set. hehhee. my risk is set to 12 and i set up a demo account with ibfx and well... just a few questions

1. summer and winter sets. ibfx has their headquarters in salt late city, UTAH with has a GMT of -5... what exactically do i set the summer and winter setting to? im totally confused haha..

2. how often does channel scrapper trade? i've had it running for all day yesterday and nothing is happening. it does have a smily face tho im assuming that its running. when does it do its trades?

3. the spread

on ibfx for eur/gbp is 2.86. is that too high for Channel Scrapper?

4. how come only eur/gbp and not the others. can this EA run another pair too?

5. how does a us resident go about getting an uk account? what are the steps involved?

thanks in advance!