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Author Topic: Jimmy's Account - SFE Combo  (Read 6925 times)

coldvinc

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Re: Jimmy's Account - SFE Combo
« Reply #30 on: September 02, 2019, 02:39:10 PM »
My account finally got approved. I've been following for so long now. I really wish I could give SFE PA a new run. Keep up the good work Jmmy!
« Last Edit: September 02, 2019, 04:16:31 PM by coldvinc »
Fighting my way to Financial Independence: http://Https://www.fighttofire.com

Jimmy

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Re: Jimmy's Account - SFE Combo
« Reply #31 on: September 02, 2019, 04:54:39 PM »
My account finally got approved. I've been following for so long now. I really wish I could give SFE PA a new run. Keep up the good work Jmmy!

Welcome to the forum! :)

Itís Joel who approves new accounts and I think he has just been a bit busy lately. :P

Now you just need to make 3 posts then you wonít need moderation for new posts. I can approve new posts when they are in forums where I am a moderator. :)

Byte

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Re: Jimmy's Account - SFE Combo
« Reply #32 on: September 03, 2019, 03:45:01 AM »
about Frero system or similar systems, last months, near two years already, has been a big opportunity for this kind of systems which never closes a losing position. Yes they close single positions, but only closes all the opened positions when the balance of them is positive. These systems different variants, but in general they are grid systems in the sense that opens multiple positions when they falls in loses, a limited number obviously, trying to not fall in a margin call.

Is like a refined version of martingale systems, and while the average life of a martingale system, I think is strange that can go more far than some weeks, this grid systems can survive more until the Apocalypsy day.

Another famous systems of this kind is the ForexStay signals and EAs on mql5. Last week, the ForexStay main signal was at very few pips of the margin call, but a holly reverse at last moment did safe the account again for the moment. I remember forexstay signals wipe all his accounts one or two years ago, but now has returned with force.

The problem with these systems is that sometimes the creator of of the systems publishes the system as if can get this profit always and the risk is controlled. No doubt that in flat moments, grid systems can be a lot profitable, but the creator should inform to his users that at the first big movement in contrary direction the account is wiped. This means that when you use this systems, you have to witdhdraw the won money regularly, because soon or later all the balance will be lost.

For newbies, I will explain the trick to know if we are in front of this danger:   any account with a stats of profit factor above 3-4-5, and more this accounts with profit factors of 10 or more, are systems that only will end in a margin call, because this profit factor is the proof that the system don't accept close a losing position, so, if the trade don't change his strategy meanwhile, the account will broke at final. Don't exist any EA or any human brain with the cappacity of have a positive odds of 10:1 over the market.

Another advise for newbies. For example in mql5 signals, we can see the ratio 'algo trading'. For the signals based on EAs, this ratio should be 100%, or 99% because open a position manually in the wrong account by error can happens. But I see often signals of this kind of EAs that the algo trading is only 70-80-90, this means that the creator of the EA is acting when the DD is discontroled.

And comes other trick to my head to detect these kind of dangerous accounts. Accounts that has made profits of >=1000% but starting with amounts as little like 50 or 100$. It's very easy to the seller start accounts with this low amounts and launch a big risk until this initial low ammount has multiplied for x4, x5, x10. Obiously for every account that get x10, a lot of other accounts has lose money or haven't get this big profit, but is part of the trick. Once any of the accounts has this fancy profit of 1000% for example, the signal is published and newbies subscrobes in mass until the next wipe. A proof of this is that the account has not been plublished since the start, because really don't exist only this account, this is part of 10,20,50 or any large number of accounts...

Another trick of the EA sellers is publish a lot of signals with different setups. Divide in timeframes, or divide in pairs, or divide in systems. Use different combinations. After some time, the losing combinations dissapear from the list of signals and only the winning combinations are showing. And a newbie can think: ah, it's ok, this system in AUDUSD and USDJPY in m15 timeframe is a beast, and don't understand that can be only a good streak of this setup. If a system is not profitable in the whole, a single setup is only profitable because a good streak, but the system don't have an edge in mid term neither in this setup.

For all the users of the forum which are reading this, remember that I would like that this forum can be a place for understand the algo tranding, the pros and cons of the different strategies, help to detect scams, anything that can help us to be in the winning side of the traders community. So I invite anybody to open a discussion about any theme related with this, I will collaborate with my experience of EAs creator and retail trader.

Thank you Joel for this post. And everyone should read and occasionally re-read it. It is so easy to fall for these offers looking like easy success ... I would also agree that you just have to look for longer histories. For price action EAs and trend following EAs with relatively large SL and TP, backtests can be informative (but you still have to see that live trades are matching the backtests) but for scalpers really only live trading shows you anything ...

ccjhunag, please keep posting your updates. I am running SFE Attractor together with Forex Cyborg (sorry Joel, I hope it is o.k. to mention that here. I had Cyborg before I saw your EAs ....) A very nice combo so far. Most of all though, I have to say, I am incredibly impressed by how SFE Attractor trades.

coldvinc

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Re: Jimmy's Account - SFE Combo
« Reply #33 on: September 03, 2019, 09:13:52 AM »
about Frero system or similar systems, last months, near two years already, has been a big opportunity for this kind of systems which never closes a losing position. Yes they close single positions, but only closes all the opened positions when the balance of them is positive. These systems different variants, but in general they are grid systems in the sense that opens multiple positions when they falls in loses, a limited number obviously, trying to not fall in a margin call.

Is like a refined version of martingale systems, and while the average life of a martingale system, I think is strange that can go more far than some weeks, this grid systems can survive more until the Apocalypsy day.

Another famous systems of this kind is the ForexStay signals and EAs on mql5. Last week, the ForexStay main signal was at very few pips of the margin call, but a holly reverse at last moment did safe the account again for the moment. I remember forexstay signals wipe all his accounts one or two years ago, but now has returned with force.

The problem with these systems is that sometimes the creator of of the systems publishes the system as if can get this profit always and the risk is controlled. No doubt that in flat moments, grid systems can be a lot profitable, but the creator should inform to his users that at the first big movement in contrary direction the account is wiped. This means that when you use this systems, you have to witdhdraw the won money regularly, because soon or later all the balance will be lost.

For newbies, I will explain the trick to know if we are in front of this danger:   any account with a stats of profit factor above 3-4-5, and more this accounts with profit factors of 10 or more, are systems that only will end in a margin call, because this profit factor is the proof that the system don't accept close a losing position, so, if the trade don't change his strategy meanwhile, the account will broke at final. Don't exist any EA or any human brain with the cappacity of have a positive odds of 10:1 over the market.

Another advise for newbies. For example in mql5 signals, we can see the ratio 'algo trading'. For the signals based on EAs, this ratio should be 100%, or 99% because open a position manually in the wrong account by error can happens. But I see often signals of this kind of EAs that the algo trading is only 70-80-90, this means that the creator of the EA is acting when the DD is discontroled.

And comes other trick to my head to detect these kind of dangerous accounts. Accounts that has made profits of >=1000% but starting with amounts as little like 50 or 100$. It's very easy to the seller start accounts with this low amounts and launch a big risk until this initial low ammount has multiplied for x4, x5, x10. Obiously for every account that get x10, a lot of other accounts has lose money or haven't get this big profit, but is part of the trick. Once any of the accounts has this fancy profit of 1000% for example, the signal is published and newbies subscrobes in mass until the next wipe. A proof of this is that the account has not been plublished since the start, because really don't exist only this account, this is part of 10,20,50 or any large number of accounts...

Another trick of the EA sellers is publish a lot of signals with different setups. Divide in timeframes, or divide in pairs, or divide in systems. Use different combinations. After some time, the losing combinations dissapear from the list of signals and only the winning combinations are showing. And a newbie can think: ah, it's ok, this system in AUDUSD and USDJPY in m15 timeframe is a beast, and don't understand that can be only a good streak of this setup. If a system is not profitable in the whole, a single setup is only profitable because a good streak, but the system don't have an edge in mid term neither in this setup.

For all the users of the forum which are reading this, remember that I would like that this forum can be a place for understand the algo tranding, the pros and cons of the different strategies, help to detect scams, anything that can help us to be in the winning side of the traders community. So I invite anybody to open a discussion about any theme related with this, I will collaborate with my experience of EAs creator and retail trader.

Thank you Joel for this post. And everyone should read and occasionally re-read it. It is so easy to fall for these offers looking like easy success ... I would also agree that you just have to look for longer histories. For price action EAs and trend following EAs with relatively large SL and TP, backtests can be informative (but you still have to see that live trades are matching the backtests) but for scalpers really only live trading shows you anything ...

ccjhunag, please keep posting your updates. I am running SFE Attractor together with Forex Cyborg (sorry Joel, I hope it is o.k. to mention that here. I had Cyborg before I saw your EAs ....) A very nice combo so far. Most of all though, I have to say, I am incredibly impressed by how SFE Attractor trades.

It's indeed a very good post and In fact, it should be made into something like a must-read before you register or it should be one of the first things you see.
Fighting my way to Financial Independence: http://Https://www.fighttofire.com

Jimmy

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Re: Jimmy's Account - SFE Combo
« Reply #34 on: September 03, 2019, 09:52:53 AM »
Yes sadly you won't see this kind of information on most Forex forums, because they are full of sellers who won't admit that their systems don't have long term edge over the market. They probably have tens or hundreds of systems that had already failed, and they just publish the only one that has survived after a few months, and make it look like the next holy grail.

Joel's vision is to make this forum a place where people can be better educated about Forex and see Forex as a game of statistics and probability, rather than a get-rich-quick scheme or just pure gambling. I really hope we can make a difference and help people stop losing money in Forex. :)

But people also need to understand that patience is very important (as it can take a long time for the market to become favourable again as we have seen with SFE PA), and you do need to have large enough funds to make trading Forex worthwhile. For example, a combination of Joel's EAs can probably deliver 200-300% gain in a good year, but if you only trade with $1000 then that's only $2000-3000 gain for the year! So that's why I have used a lot higher risks in my accounts and traded them as if they were much larger, in order to maximise the return on my investment. It is definitely risky but it has paid off so far. :)

I believe after the next big gain I should have another $50-100K in profit, and once that happens I will finally be able to just trade at normal risk and let the account grow. If I can have $150K in my account, then having 200-300% gain in a year with normal risk would already give me $300K-$450K in profit. Then I can really start thinking about retirement! :D

Jimmy

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Re: Jimmy's Account - SFE Combo
« Reply #35 on: September 03, 2019, 02:24:52 PM »
Thank you Joel for this post. And everyone should read and occasionally re-read it. It is so easy to fall for these offers looking like easy success ... I would also agree that you just have to look for longer histories. For price action EAs and trend following EAs with relatively large SL and TP, backtests can be informative (but you still have to see that live trades are matching the backtests) but for scalpers really only live trading shows you anything ...

ccjhunag, please keep posting your updates. I am running SFE Attractor together with Forex Cyborg (sorry Joel, I hope it is o.k. to mention that here. I had Cyborg before I saw your EAs ....) A very nice combo so far. Most of all though, I have to say, I am incredibly impressed by how SFE Attractor trades.

There is no problem mentioning other EAs here. Itís good to let people know whatís good and bad out there and thatís the purpose of this forum. :)

Actually Forex Cyborg seems legit and in some way maybe similar to SFE Night Scalper - at least the growth curve looks similar and they both had large losses on the yen pairs on 3rd Jan this year from the flash crash. Does Forex Cyborg mainly trade in Asian hours like SFE Night Scalper?

Here is the myfxbook page I am looking at: https://www.myfxbook.com/members/forexcyborg/forex-cyborg-darwinex/2184469

But I must say the lot sizes with Forex Cyborg does seem a little large to me. Itís running between 0.80-1.70 lots per trade on a 22K euro account whereas with SFE NS you would be running at 0.01 per 300 euro for recommended risk, so a 22K euro account would only be running at about 22000 / 300 = 0.73 Lot per trade if that account was running SFE NS. Maybe Forex Cyborg has a tighter stoploss to compensate for that?

Jimmy

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Re: Jimmy's Account - SFE Combo
« Reply #36 on: September 04, 2019, 12:44:59 AM »
Actually I just started a new thread for Forex Cyborg in the Other EAs forum. We can continue the discussion about it there: https://smartforexexpert.com/index.php?topic=528.0

Attractor

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Re: Jimmy's Account - SFE Combo
« Reply #37 on: September 05, 2019, 12:01:54 AM »
Hello!
yes, I have been busy, but the signal is now ready in mql5!

SFE Combo MQL5 signal:
https://www.mql5.com/en/signals/622106

Let's see if Jimmy can get this last good run before return to a most moderate risk. All people interested in follow the signal, remember that is currently a very very high risk! Read the description of the signal carefully.

And yes, there is no problem to talk about other EAs or anything, the only I ask to all the members of the forum is try to aport his knowledge and experience.

Jimmy

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Re: Jimmy's Account - SFE Combo
« Reply #38 on: September 05, 2019, 12:42:53 AM »
Thanks Joel!

Yes I am just waiting for the offical SFE Price Action account to get back to equity high before I reduce my risk. I believe it is likely to happen very soon, as both SFE PA and SFE EU have been in DD for about 6-7 months now and it is really about time for the market to have a major breakout on EU and other major pairs. Iím mainly waiting for Sep 19th to see if the FOMC and other major economic releases on that day will give us what we need, but of course something could happen before that as well! :)

Attractor

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Re: Jimmy's Account - SFE Combo
« Reply #39 on: September 05, 2019, 01:23:27 AM »
yes, after a lot of months waiting.... we deserve a big EURUSD breakout! is the key to break the highs... 200 or 300 pips in few bars, this is what I want :)

Jimmy

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Re: Jimmy's Account - SFE Combo
« Reply #40 on: September 06, 2019, 04:26:44 AM »
This week has been pretty boring...I am down 4% on my account this week so far :(

Letís see if the Friday NFP will give us the volatility we are after...although some past NFPs have also produced zig-zig movements which could be bad for the SFE EAs. We will just have to see what the market will give us. ::)

Jimmy

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Re: Jimmy's Account - SFE Combo
« Reply #41 on: September 07, 2019, 01:32:34 AM »
Weekly Result - 2nd Sep 2019 to 6th Sep 2019

Total: (https://www.fxblue.com/users/jimmy8378/stats?#week)
-$3900.86

SFE Price Action: (https://www.fxblue.com/users/jimmy8378/stats?magic=400051-450601#week)
-$924.04

SFE Attractor: (https://www.fxblue.com/users/jimmy8378/stats?magic=510051-510605#week)
-$2922.09

SFE Night Scalper: (https://www.fxblue.com/users/jimmy8378/stats?magic=710051-710302#week)
+$62.04

SFE EURUSD: (https://www.fxblue.com/users/jimmy8378/stats?magic=800051-860602#week)
-$116.77

The market was mostly quiet this week and it was reflected on the losses on SFE PA/Attractor/EU because there was not enough volatility to generate enough price movement to benefit the EAs. Nevertheless it's good to see how well these EAs are designed at exiting unfavourable trades and I am only down less than 4% for the week. To be able to minimise losses is just as important as maximising gains! ;)

I believe at the moment the market is just waiting for the ECB decision next week and the FOMC decision the week after. Therefore I expect some good price movements in the next 2 weeks which should be favourable to the price action based SFE EAs. Let's see what the market will bring us in the next fortnight. :)

Have a nice weekend!

This week's announcement:
  • SFE Combo MQL5 signal is finally available for subscription, thanks to Joel for listing it :)

Attractor

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Re: Jimmy's Account - SFE Combo
« Reply #42 on: September 07, 2019, 03:29:24 PM »
Thank you for the weekly report Jimmy,

and congratulations, your post is the most popular of the Forum already.

I know that we are only 4 cats in the forum right now, but maybe this can be the beginning of a profitable place to share the forex experiences.

Trying to take benefit of the feedback I begin to see in the forum with the first apports of the users, I just started a new section called Forex Brainstorm Lab. I want to take profit of all our brains there for the objective of a mid / long term success in the Forex adventure.

Jimmy

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Re: Jimmy's Account - SFE Combo
« Reply #43 on: September 07, 2019, 03:58:40 PM »
No worries, itís my pleasure to be contributing to the forum. ;)

I also find I am improving my foreign languages when I read you posts - I have finally worked out that ď4 catsĒ means ďa few peopleĒ (https://www.quora.com/How-did-the-term-Four-cats-in-French-Italian-and-Spanish-come-about) and ďaportar/apportsĒ means ďto contribute/contributionsĒ. :D

I think the Brainstorm lab will be an interesting place to watch, but I know I already have a profitable portfolio with SFE Combo. I am planning to set the SFE PA/SFE ATR/SFE EU/SFE NS ratio to 60/60/60/30 as the normal risk for my account once I get the next big gain, and I am sure this new portfolio will remain profitable in the long term. :D

Attractor

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Re: Jimmy's Account - SFE Combo
« Reply #44 on: September 07, 2019, 04:15:38 PM »
hehe,
yes, in spain we call this language 'spanglish'

and yes, obviously I like your portfolio :)  but you will see, If we launch ideas sure we can improve. I have an interesting idea about the SFE Night Scalper and requires users collaboration. I will explain later in the lab