fxpromaker 1.47

[NipThePips]

Started a Demo Account with 50K

Traded EURGBP with recommended scalp settings (gotten from the manual which you can find on their website http://fxpromaker.com/FXPROMAKER_1.47_User's_Manual.pdf)

so far its been 1 week, up 30%

Biggest order placed was 12.8 lots (starting with .1 lots)

It seems that you need a lot of money in the account to survive it, but i have yet to see any bad results

I will keep running it for a while.

 

[Starry]

acu try tengok bulih liive ke dok...

can we use this on live account??

 

[Fluchtplan]

Try it on a mini account at Internetbank FX. Open a mini account with 250 $ and choose the pairs you like.

 

[NipThePips]

Try it on a mini account at Internetbank FX. Open a mini account with 250 $ and choose the pairs you like.

Mini account wouldnt be wise. The smallest I would trade this is with $5000 starting at .01 lots. Or 50K starting with .1 lots

 

[Lobey]

Mini account wouldnt be wise. The smallest I would trade this is with $5000 starting at .01 lots. Or 50K starting with .1 lots

i started with usd200(mini)and target 5% a day.
result so far okay.

 

[Starry]

i started with usd200(mini)and target 5% a day.
result so far okay.

Live account?

 

[Fluchtplan]

Mini account wouldnt be wise. The smallest I would trade this is with $5000 starting at .01 lots. Or 50K starting with .1 lots

Yes I have tested the programm - its very dangerous.

The only way I found to make money is the scalping strategie with Eur/USD and Eur/GBP - only at Asia session and only with minimal lots

 

[Starry]

Yes I have tested the programm - its very dangerous.

The only way I found to make money is the scalping strategie with Eur/USD and Eur/GBP - only at Asia session and only with minimal lots

I find it strange that you guys find this EA dangerous.

I didn't find it so.

I started this EA with only $1500 on InterbankFx mini account, with 0.02 lots (1 pip= 1 cents) on the 9th November. I use USD/JPY H1 as I want to compare it with Forex Funnel.

After two weeks, this EA had gained 13.64%, bringing $1500 to $1704.65 with a maximal drawdown of 4.91%

When you guys say it is dangerous, did you guys get the settings correct. In most martingale system, it is very important that you need to get three things correct

1) Your starting balance, how much is that?
2) Are you using micro lots (1 pip = 10cents) or nano-lots (1 pip = 1 cents)? You must use nano-lots if your starting balance less than $5000
3) What is your starting lot size and what is your maximum lots allowed by your broker? For interbankFx, the maximum lots allowed is 50 lots. So if I start with 0.1 lots, it would take less than 10 steps for me to get cut-out by the borker and would cause a huge permanent drawdown. My suggestion is to start with 0.01 or 0.02 lots size REGARDLESS whether you have 5,000 or 50,000. If you have a starting 50,000 however, you can try micro-account of 1 pip = 10 cents. If you have 5,000, then try nano-account where 1 pip= 1cents. BUT always start with 0.01 or 0.02 lots sizes. The default of 0.1 lots need to be change to 0.01 or 0.02

This would ensure you don't blow your account from either reaching the maximum lots allowed or reaching a case of MC.

 

[NipThePips]

I find it strange that you guys find this EA dangerous.

I didn't find it so.

I started this EA with only $1500 on InterbankFx mini account, with 0.02 lots (1 pip= 1 cents) on the 9th November. I use USD/JPY H1 as I want to compare it with Forex Funnel.

After two weeks, this EA had gained 13.64%, bringing $1500 to $1704.65 with a maximal drawdown of 4.91%

When you guys say it is dangerous, did you guys get the settings correct. In most martingale system, it is very important that you need to get three things correct

1) Your starting balance, how much is that?
2) Are you using micro lots (1 pip = 10cents) or nano-lots (1 pip = 1 cents)? You must use nano-lots if your starting balance less than $5000
3) What is your starting lot size and what is your maximum lots allowed by your broker? For interbankFx, the maximum lots allowed is 50 lots. So if I start with 0.1 lots, it would take less than 10 steps for me to get cut-out by the borker and would cause a huge permanent drawdown. My suggestion is to start with 0.01 or 0.02 lots size REGARDLESS whether you have 5,000 or 50,000. If you have a starting 50,000 however, you can try micro-account of 1 pip = 10 cents. If you have 5,000, then try nano-account where 1 pip= 1cents. BUT always start with 0.01 or 0.02 lots sizes. The default of 0.1 lots need to be change to 0.01 or 0.02

This would ensure you don't blow your account from either reaching the maximum lots allowed or reaching a case of MC.

I agree with your post exactly! It is not dangerous, you just need to be prepared. I personally recommend not starting with less than 5K (at .01 lots). So far for the past 2 weeks I have done .1 lots starting at 50K (with IBFX) its a demo account but it is up to 98K as of friday. My problem is, I need to find a good MT4 broker that doesnt have a cut off of 50 lots per click.

 

[Fluchtplan]

Thanks Starry I will try it with your settings.

@ NipThePips - try it with Instaforex - 1 Lot means 10.000 USD and they have no max lots per click