The Forex Robot World Cup

[jdforex]

To me this really is the key - you have to learn to trade manually and for me it will be my main focus and way of making money.

I have an interest/fascination with EAs and am happy to spend the rest of my trading days researching, investigating, testing and improving those I find. That is why I think the work the FRWC are doing is so interesting to me - it's what they will come up with going forward, as they have access to some good ish EAs.

If I can take what they do and modify to my own money management and risk approach, then I may end up with something that works for me over the long term.

However, if I don't know how to trade, I cannot be part of the evolution process on the EAs. So manual will rule until the time comes that an EA is produced that I can live with.

[raa]

Another good day today... no robots, just basic M2 method from Marc and my multientry technique: 14 trades total, 1 to zero, 1 losing, 12 winning, and that losing trade would evntually turned to winner most likely, but I was too tired to keep watching it and co-piloting it, was very happy with results overall and decided to call a day and go to gym

Guys, it is so different from watching FRWC taking beating in frustration...

[jdforex]

I am coming to the conclusion that the FRWC EAs are my entertainment while I wait for the few pairs I watch reach the levels I want to trade from. I am a big fan of daily and now weekly charts with the M2 method, but that requires patience otherwise I take silly trades. Watching and playing with the EAs is keeping me from those trades, so maybe it is helping me - also I love analysis, so it works for me there too!!
Anyway, new settings for LMD and Super Volcano, so will be watching them with interest and apparently a modified Hi-Rider in a few weeks, so more analysis while I wait for trade set ups for my real money!!
I suppose the final point is that if these EAs and their evolution stops me ever buying another EA then it will be worth it. I now delete every EA offer I get, so maybe I can focus on M2 instead of surfing rubbish EA sites!!

[raa]

I feel that I had somewhat similar experience with EA. Before that I spent energy on 15 minutes charts in the same way. Now I don't even bother looking down from H4, this is an absolute golden medium for an active trading. All about evolution.

[julianj]

Hi Raa,

Glad you are doing well. Would you mind posting your 14 trades results, perhaps as an MT4 chart or screenshot?

I feel I should learn from other people using good techniques based on the general principles here and would appreciate it, and so would others I expect.

On the other hand, its not a problem if you prefer to keep it confidential.

regards

Julian

[raa]

Hi Julian

Basically it all was based on M2 method Marc teaches. Simple bounces of SR levels and from extremes. 5 different pairs. However now I am in trouble with Euro pulled that hard together with Pound. Marc cautioned about it, actually. Well, a learning path is paved by mistakes. Still hope at least to cover some loss on rebounds/pullbacks, hope US news will be good. I am a beginner like you guys, just trying to learn as fast as I can and speding as much time trading as I can to get the head clearing of child mistakes.

[jdforex]

At a bit of a crossroads and would appreciate ideas on my next steps. As I see it I have 2 options;
1) Stay with the FRWC program and see if they end up with winning EAs
2) Get a refund

I am now just running the new version of Fusion but the the results I have cover the old and new version and are as follows;
Hi-Rider up 325 pips (214 old Fusion, 111 new Fusion)
LMD down 410 pips (-351 old, -59 new)
Super Volcano -270 pips (-75 old, -195 new!)
Negative Correlation up 19 pips (13 old, 6 new)

There is apparently a new version of Hi-Rider coming along which works even better and to be honest that is the only one that actually seems to work giving 325 pips in 1 month BUT has the possibility of losing loads.

So I am tending towards a refund and have asked the FRWC people about upcoming plans to be profitable, but would appreciate others thoughts.

One final point to note is that I am committed to the M2 method as my main way of trading and earning a living in the future, the EA piece is an added extra.

Thanks for your thoughts.

[raa]

My thought so far concerning EA: all EA's I have seen so far are either scalping, with higher probability to win small pip gain just because they use huge stop losses in a hope that maket could go here and there and hit the profit target at some point, of course there is some strategy but in real world this is how it works; on the other side there are few more swinginshly EAs, based on indicators and patterns, they could pull in bigger pip gains but still use huge stop losses, just to have this nice marketing stuff about high win probability ratio. Also I really do not think that most EA developers are really good traders.

The only EA I would trust is the one I would develop on my own. I would say it would be a swing-based but on shorter time frame, like 15M, will a good deal of manual input, like major SR levels, news announcement times (or better just time trading boundaries, i.e. during asian session when there is no European and US news out), and with meaningfull stop losses, not crazy 300-something pip ones like Fusion EAs have. The only EA that is somewhat close my to vision I know about is MegaDroid, but it is a scalper and trades too rare. I would prefer rather to have EA that generates many trades with small targets and small stop losses. Much better to take a small loss and move on onto next trade that waiting for days running huge negative floating P/L and waiting for Martian weather to change...

[jdforex]

Many thanks for your thoughts Raa - it seems we agree!! I am now in correspondance with the FRWC team but to be honest am getting nowhere. Will keep going for a few days and then get a refund.

Overall I am happy that I am slowly getting to grips with the M2 system and will be back Live trading that soon (as work eases up) - maybe one day an EA will come along, but as you say do these EA developers actually understand trading? If the so called best EAs in the world by private developers clearly lose over even a short term, then I must question whether an EA will ever exist that I trust.

Looks like the end of my FRWC trials is nigh!!

Here's to manual trading M2, which interestingly has given me over 200 pips this week in 2 trades!!! So who needs EAs.....

[jdforex]

Well, after my final analysis and various emails back and forth I have requested a refund via Plimus. Worryingly having told FRWC team that I would now be requesting a refund they said I had to provide 30 days of trading statements. I have already sent them an excel file of all my Fusion trades since 16th Feb, plus loads of screenshots, so we will wait and see if they will come back with the money or I'll have to start arguing with them. Seems too much to have to wait another 10 trading days before I can request a refund. Also, do not now how to get a trading statement that goes back past the beginning of the month, so that could be a problem too. Will let you know what happens.