Forex Crescendo Forum

[ikmike]

Set profit target at default $4.00 crescendo closed a trade 10/4 at 35 pips in profit on the gbp/usd thought it would close at $4.00 trading $1.00 a pip demo account, trying to get a answer from crescendo on this. Anybody have any thought on this.

[capsmart]

Hi ikMike
As ForexSeeker noted you set the profit target according to the size of the account. So if you have a 1000 dollar account you let it at 4 dollars if you have (as in my case) a 10.000 account you set it at 40 pips.
You adjust accordingly the lot size. For a 1000 account it is 0.01 and for a 10000 account you set it a 0.1 lots.

[freedomseeker]

Today Cres--Do closed the 2 long GU trades price 1.5865 - the fisrst at lose of -$2.10 and the second at +$6.20 --- so at a profit of +$4.10

looks like it is using some kind of a grid systerm

[ikmike]

Still a little confused ,with the target set at 4.00 dollars trading 1 dollar a pip crescendo made 35.00 dollars 35 pips no that this is bad , just don,t understand if this is how it works txmike

[capsmart]

IkMike,
I got your point now. Yes it is strange. If you set the profit at 4 logically it should close it when you have a profit of 4 and not 40.

[robroy]

Trading a live micro account @ 0.01 = .12 per pip. $400.00 account now up $8.69 since 1st Oct no losses. Default settings on EA

[freedomseeker]

To understand how the Profit target works i sent a request to support and got a reply:
++++++++++++++++++++++++++++++++++++++++++++++++++ ++++++++++
Re: Lot Size

Thursday, September 30, 2010 6:04 AM

From:
"Forex Crescendo Support"
Add sender to Contacts

To:
"Theophilus Lawson"


Hi Theophilus

Thank you for your email. The pip value is 10 cents.

I hope this helps out.

Thanks
Nerissa


On Thu, Sep 30, 2010 at 2:51 AM, Theophilus Lawson <theo_law@yahoo.com> wrote:

Hi,

In the manual it is stated that for every $1000 account balance the lot size should be 0.01 that's for micro lot. What then is the Pip value, since that will depend on wheater you trading a 1k, 10k, 100k Lot size.

Thank you

++++++++++++++++++++++++++++++++++++++++++++++++++ ++++++++++
From this it means :
1. For every $1000
2. Lot size 0.01

3. If Pip value is 10 cents( ie $0.10)
4. Take profit is $4
5. The target in Pips is 40 Pips
6. Therfore for $2000 ---Lot= 0.2 -- Target in dorlas $8 --- Pip target is still 40 pips.

Hope this clears some air out of all this.
But the question still remains Does the systerm takes profits more than 40 Pips if it detects a good trend. Because in Carpsmat staement the are cases where the Pips is more than 40 pips

[capsmart]

I think that in the first trades where it was a loosing one and a wining one the robot waited to break even and closed both of them for a small profit.
In another occasion it took a 7 dollar profit instead of a 4 dollar profit but the lot size was to 0.1 therefore it took a 7 pip profit instead of a 4 pip profit and in that case we could say that it is due to a small "blip" in price between the command to close and the actual close of the trade.
Now that I set it correctly to 40 dollars let's see how it will work.
So far we had today 2 closed trades 40 dollar profit for gbpusd and no trade for gbpjpy

[ikmike]

Since 9/28 on a demo ,(go trader )crescendo made 34 trades ,29 long . 5 short.
29 in profit 5 loses 85.29 win % trading a dollar a pip profit $128.88 wish it was not a demo tx mike
mini live account ibfx 5trades since 10/3 no loses trading 10 cent a pip. $21.03 profit.

[Rollieroger]

Since 9/28 on a demo ,(go trader )crescendo made 34 trades ,29 long . 5 short.
29 in profit 5 loses 85.29 win % trading a dollar a pip profit $128.88 wish it was not a demo tx mike
mini live account ibfx 5trades since 10/3 no loses trading 10 cent a pip. $21.03 profit.

ikmike,

For your ibfx mini account, did you use .01 lot size for each $1,000 or .1 (.1 of a mini-lot = .01 of standard lot)? Thanks

Rollieroger