Reputation from silverngold - Page 2

silverngold got a reaction from Chip4Pips in Share with us your BEST EA !! June 12, 2010

My very best EA hands down: Forex Hacked (I use version 1, which to me is just as good as version 2)

ForexHacked.com - Forex Hacked Expert Advisor
http://forexhacked.com/
Value: $169.99

Download:
Sorry guys - I posted before I realized it was blacklisted so had to take the download links down.

Currency Pairs: GBP/USD, EUR/USD, USD/CHF, and USD/JPY
Time Frame: 1 HOUR ONLY ! ! !

Current Settings:

TP=35
Booster=1.65
Pip Starter=21
Max Trades Per Chart=8

When I use microlots it averages anywhere from $70-$100usd a day and mini is $700-$1000usd a day - That's right everyday - no losing days ever.

Make certain that you use proper money management or I am certain that you will experience losing days.

silverngold reacted to soundfx in Do You Still BUY EAs? June 11, 2010

Hi silverngold,

My answer is a resounding "no"!

It's very tempting from looking at the power marketing to believe that the next commercial EA to come along is somehow different to the others, despite the hype, this is never the case. The problem is that an EA which performs consistently well over a long period will have lots of losers as well as winners and it won't be able to take a $500 account to $5,000 in a few weeks (not very impressive marketing here...) ;)

From what I've seen, virtually all commercial EAs fall into two camps (which I guess most of you have spotted by now lol):

1. Scalpers with tiny targets and huge stoplosses. This enables the seller to show impressive statements going back quite a long time with lots of winning trades, failing to mention that the one time you get stopped out is when you typically blow all your winnings built up over such a long time and normally your whole account too lol.

2. Grid-type EA's. These are quite often referred to as "martingale" EAs - however martingale is something even more sinister than your typical grid EA. True martingale EA's are like the inveterate gambler who has to keep doubling up on losers until all his cash is blown. Grid EA's can work for quite a while particularly in ranging makets - again helping the seller to provide impressive statements with lots of winning trades, however catch one of these on the wrong side of a trend and you find that you're sitting on a stack of trades with losses mounting rapidly. If the trend continues for a good while (which it will do several times a year), then your account will be no more.

In my view the EAs which are likely to work are ones which make our life as traders easier. For example, if you have a breakout system which would normally trigger trades at certain price levels when you're asleep, then writing an EA to enter these trades could be advantageous. You could add a stop and target and wake up in the morning to count your profits or mourn over your losses. Alternatively, you could set a safety stop on these trades and then manage the exit manually when you wake up. This is using an EA to help you trade more effectively rather than relying on an EA to churn out tons of cash for you every day with no effort required on your part.

The idea of your own "cash machine" running automatically day and night with no effort required from you is the big selling point. However, if it's so easy to take cash from the markets by running a simple program, why are there so many manual traders? After all, the hardest part of manual trading is instilling discipline, which is already supplied with an EA.

One of the key problems with developing a quality EA is the imposed inflexibility that we get because we have to program all trading logic. As a manual trader you have access to a lot more information (for example the "fuzzy" art of pattern recognition, or awareness of news etc.) than can be coded into an EA. When you are watching price action it's clearer to see how far retracements are likely to go, however with an EA, for example you would have to use a rigid trailing stop to protect your profits which will quite often take you out of really good trades before they've had time to mature properly.

I agree with Rio, that there are no doubt some good consistently performing EAs out there, though they'll remain well hidden.

silverngold got a reaction from bonny in Share with us your BEST EA !! September 26, 2010

First, I would recommend trading microlots for a long while. It is preferable to do microlots up to 30k and then switch to mini, then once at 300k switch to full size lots.

This ea is NOT a martingale robot. It does however increase lot size while in losing and winning positions. It is a hedging robot. I would not rely on backtests. Some robots cannot be backtested and perform well. Only live tests tell the tale.

I was just giving away my best performing ea that I currently have to the group. I am certain that there are even better eas out there - though I don't know which ones they are.

Concerning drawdown - if drawdown goes up to 10% of your account you must then close it out immediately. If you noticed the live results of some of the other accounts displayed by some members of the forexhacked.com site that they have serious drawdown while others have no drawdown at all and the reason for that is because they didn't follow the common rule of never letting an account get drawdown of 10% or more. Close the trades - take the loss - and live to trade another day.

I have not had a losing day yet. Will it happen? Probably. Have I closed down all the trades when the drawdown was starting to get too high - You Bet !

I still keep an eye out from time to time on this ea. However, I do feel confident enough in it to walk away from it and know that it will do well, but then again I keep my risk very low. Don't think that you can open account for 1k or less and start trading it at anything higher than .01 lots. If you do - then it would be better to just take your money and throw it out in the street, at least that way you might make some new friends.

silverngold got a reaction from didier in Share with us your BEST EA !! June 10, 2010

My very best EA hands down: Forex Hacked (I use version 1, which to me is just as good as version 2)

ForexHacked.com - Forex Hacked Expert Advisor
http://forexhacked.com/
Value: $169.99

Download:
Sorry guys - I posted before I realized it was blacklisted so had to take the download links down.

Currency Pairs: GBP/USD, EUR/USD, USD/CHF, and USD/JPY
Time Frame: 1 HOUR ONLY ! ! !

Current Settings:

TP=35
Booster=1.65
Pip Starter=21
Max Trades Per Chart=8

When I use microlots it averages anywhere from $70-$100usd a day and mini is $700-$1000usd a day - That's right everyday - no losing days ever.

Make certain that you use proper money management or I am certain that you will experience losing days.

silverngold got a reaction from evamartensson in Share with us your BEST EA !! June 10, 2010

My very best EA hands down: Forex Hacked (I use version 1, which to me is just as good as version 2)

ForexHacked.com - Forex Hacked Expert Advisor
http://forexhacked.com/
Value: $169.99

Download:
Sorry guys - I posted before I realized it was blacklisted so had to take the download links down.

Currency Pairs: GBP/USD, EUR/USD, USD/CHF, and USD/JPY
Time Frame: 1 HOUR ONLY ! ! !

Current Settings:

TP=35
Booster=1.65
Pip Starter=21
Max Trades Per Chart=8

When I use microlots it averages anywhere from $70-$100usd a day and mini is $700-$1000usd a day - That's right everyday - no losing days ever.

Make certain that you use proper money management or I am certain that you will experience losing days.

silverngold got a reaction from mmusnia in Share with us your BEST EA !! June 9, 2010

My very best EA hands down: Forex Hacked (I use version 1, which to me is just as good as version 2)

ForexHacked.com - Forex Hacked Expert Advisor
http://forexhacked.com/
Value: $169.99

Download:
Sorry guys - I posted before I realized it was blacklisted so had to take the download links down.

Currency Pairs: GBP/USD, EUR/USD, USD/CHF, and USD/JPY
Time Frame: 1 HOUR ONLY ! ! !

Current Settings:

TP=35
Booster=1.65
Pip Starter=21
Max Trades Per Chart=8

When I use microlots it averages anywhere from $70-$100usd a day and mini is $700-$1000usd a day - That's right everyday - no losing days ever.

Make certain that you use proper money management or I am certain that you will experience losing days.

silverngold got a reaction from huuu in Share with us your BEST EA !! June 9, 2010

My very best EA hands down: Forex Hacked (I use version 1, which to me is just as good as version 2)

ForexHacked.com - Forex Hacked Expert Advisor
http://forexhacked.com/
Value: $169.99

Download:
Sorry guys - I posted before I realized it was blacklisted so had to take the download links down.

Currency Pairs: GBP/USD, EUR/USD, USD/CHF, and USD/JPY
Time Frame: 1 HOUR ONLY ! ! !

Current Settings:

TP=35
Booster=1.65
Pip Starter=21
Max Trades Per Chart=8

When I use microlots it averages anywhere from $70-$100usd a day and mini is $700-$1000usd a day - That's right everyday - no losing days ever.

Make certain that you use proper money management or I am certain that you will experience losing days.

silverngold got a reaction from domonkos in Share with us your BEST EA !! June 9, 2010

My very best EA hands down: Forex Hacked (I use version 1, which to me is just as good as version 2)

ForexHacked.com - Forex Hacked Expert Advisor
http://forexhacked.com/
Value: $169.99

Download:
Sorry guys - I posted before I realized it was blacklisted so had to take the download links down.

Currency Pairs: GBP/USD, EUR/USD, USD/CHF, and USD/JPY
Time Frame: 1 HOUR ONLY ! ! !

Current Settings:

TP=35
Booster=1.65
Pip Starter=21
Max Trades Per Chart=8

When I use microlots it averages anywhere from $70-$100usd a day and mini is $700-$1000usd a day - That's right everyday - no losing days ever.

Make certain that you use proper money management or I am certain that you will experience losing days.

silverngold reacted to soundfx in Basket Bull (System downloads post 3) June 9, 2010

Hi guys,

From what I can see the EA is set up in automatic mode by default.

If it's following the T101 rules, I guess that it needs to be kept running from the start of a new week until the "Sell" Pairs move into the "Buy" pairs area.

I don't know what actually triggers the trades to be placed, and I'm not sure if all 14 will be placed. I think it's more likely that trades with the best probability of success will be placed based on indicators (though at the moment I'm not sure which ones!).

A standard trigger of this system is one of the Buy pairs taking over the the Sell pairs "anchor" position or vice-versa. At the moment I have EUR/USD which is labelled as a Sell pair in 3rd position in the Buy pairs list. It needs to replace CAD/JPY at the top of the list.

http://farm4.static.flickr.com/3360/4595376045_1a05f85d65_o.jpg (http://farm4.static.flickr.com/3360/4595376045_1a05f85d65_o.jpg)

silverngold got a reaction from baxter in Here's an EA that I am currently testing - BestSniperFX2 May 14, 2012