SL moved for AU

USDCAD ended with only 1 pip profit. I have moved SL for AU short to the entry level plus 1 pip.

2nd trade for today

I went short on AUDUSD @ 1.3650 with SL 1.03900. For the 1st trade on USDCAD I moved the SL to 0.99830, which is the entry price plus 1 pip.

 I'm normally a bit hesitant to add a position when I already have an open trade, but once I moved the stop loss of the 1st position to the positive level, it doesn't matter.

Lost Big

I've done a mistake and lost most of my account fund in all accounts I have. For now, I just would like to have fun doing a manual trading with a tiny fund left on one of my accounts.

I've taken long on USD/CAD @ 0.99820 with SL 0.99650.

CNS VPS working fine.

It's been a couple of weeks since I started using CNS VPS (Commercial Network Services). I've been monitorin the server using Wembot with the frequency of 5 minutes. Except it's down a bit during the scheduled maintenance during weekend (where forex market is sleeping), it has no down time.

What makes CNS outstanding is their software called Autoboot. It prevents double-login, and it restart MT4 terminal as soon as the server is recovered from down time.

If you put the terminal.exe into Start menu, re-booting the terminal is done quite easily. But then you would highly likely to experience double-login when you duplicate the server connection, which may allow an EA to open duplicated lots, meaning it could over-trade unintentionally.

CNS's Autoboot can prevent it, and it's quite useful!

M-Trader Forex Trading System

I've downloaded a demo version of M-Trader Forex Trading System from eBay. The vendor is http://automatedforexea.com/.

The demo was supposed to run for one month, but when the floating drawdown started to be big, the demo suddenly expired, saying "This version has been expired go to automatedforexea.com."

This EA piles up winning trades very quickly, but it uses martingale, and it would blow your account some day, all of a sudden. I think that the vendor knows it and he modified the demo version intentionally so that all demo users don't see their accounts are being blown up.

The vendor suggests it should run in a range market, or in a trending market with buy only or sell only setting. But who knows when the market change its direction! You never be able to predict it!

This is the vendor's website.

I was lucky I didn't purchase this item.

Will not make 150%

If you found this EA on eBay, do not buy. It won't make 150% a month. It will take up to 3 consecutive losses, and if it's not successfully recovered by the time, the loss becomes so huge that it takes  successful trades to get recovered.

It uses semi-martingale strategy, and it multiply the initial lot by 6, and tries to recover losses 3 times. So if your initial lot was 0.01, then the second trade takes 0.06 lots, the third trade takes 0.36 lots. Each time it takes a loss you lose 30 pips while winning trade brings you 5 pips.

1st loss: 30 pips

2nd loss: 180 pips

3rd loss: 540 pips

total loss: 750 pips

You must get 150 times of 5 pips winner to get this huge 750 pips loss recovered.

Even if this EA has a very high winning ratio, you'll give away all your profits suddenly some day. This EA is NO GOOD. Actually, really bad. Do not buy.

Alpari NZ flooded with error messages

I had been using Alpari NZ for the past several months, but today it started to get "Old tick" error messages again and again, almost every second.

It caused one of my EAs place 16 orders in about 5 minutes. I've closed all the position. I'll close the account and never trade with them.

This was the second time I got MT4 error or server problem. The previous one was EXNESS.

EA claiming to make 150% a month

One of the EAs that I bought claims that it makes 150% per month. Normally, this kind of statement makes me feel very dubious. But after trading it on two of my live accounts, I changed my mind a bit.

Because it trades on 1M chart, you can't get a reliable backtest because backtesting on 1M chart is very innacurate (modeling quality is very poor). But the author says it works on a live account. So I did. I don't trust a demo account. There's no slippage or any execution problem on demo. Live trading is the only way you can find the true results.

It takes positions around the clock. In the past 14 hours, it took 30 trades and the winning rate is very high. Once it takes a loss, it tries to recover the loss by increasing the lots on the next trade. But it's not a typical martingale style of EA because such multiplying of lots is limited up to three consecutive losses. Once it finds it can't recover in three losing trades, it start over from the initial lot amount. So it's not a dead-or-alive type of EA.

It's too early to tell, but so far, it lost only one and got recovered on the next trade. On the other account, it took two consecutive losses and recovered on the next trade. The difference comes from the difference of spreads on each broker. Since this EA chases only 5 pips (stop loss is 30 pips), tighter spread is much better for this EA.

The werid thing is that the max consecutive losses is set to 2 by default, the EA multiplied the lots by 3. I don't know if it's a bug of the EA and it continues to multiply the lots forever till the account is brown up. I never know until I see more trades.

The author suggest to run this EA on $1,000 account (with 0.01 lot trading). If you test this EA on a nano account like IBFX Australia, you can start with only $100. I think the author suggests very safe setting.

Can you really make 150% per month? I don't know. I guess it's a bit exaggerated. I think making about 10 to 20% or so is realistic expectation for this EA if it worked as statad. If you start this EA with lower capital like $200 to $400, then maybe it is very possible. According to the author's blog, he started trading this one with only $70. If you start the EA with such a small amount, then yes such high percentage yeild is very possible. I personally think that you at least need $500 on a micro account or $50 to $100 on a nano account.

This is what I know by now. But I need more time to evaluate this EA. I think the way this EA trades is very interesting, but I don't know how big the drawdown would be and how risky or profitable this one is gonna be. I only know the 14 hours results.

Additional EAs

I've found two interesting EAs and added to my portfolio. Those are dubious EAs found on eBay. One of them is really funny. The way it takes position is something I've never seen, but it's very interesting. I bought one from Germany, the other one from Bulgaria.

SL on StepsOfGlory4

I've experienced the first SL with a blackbox EA named StepsOfGlory4. It was about $100 loss. But I'm quite relaxed.

Negative 700 pips

Open positions on my StepsOfGlory are currently more than 700 negative pips. The floating drawdown is huge. But the dollar amount is only negative $7.00 or so because I use nano lots on IBFX Australia.

It seems to be weird to have negative 700 pips, but this EA survives every time even after it has more than $100 drawdown.