falconwest

Micro or standard account no difference. The 100 pips in micro is small ($10) in standard account huge ($1.000). You need at least $5.000 for standard account but even that is not enough. $10.000 would be better and trade no more than 2% of your account. Get rich slowly.

It is on you how much is your risk tolerance. Go with the daily average range. Some pairs need more e and some less SL. Too small SL will be always wiped by the brokers.

Hermes

Thanks, how much sl will be the most efficient for these pairs on standard and/or micro accounts: USDCAD, GBPJPY and USDJPY on H1 TF?

http://www.megaupload.com/?d=QPKQYGIW

Friend of my did put SL 100p. in it. You can change it to what you like.

Hermes

Do you mean for a micro account we have to set SL value to 1000 or 100p?

howdy Falcon, let me reiterate that I am not affiliated with WindsorParkFx other than I was contracted to work on the project. As such, you will have to discuss their pricing model with them. I do agree it is pricey and have been told it is because they have years of forward testing results and have identified how to use it to generate consistent profits. It is a grid based program with the inherent risks of that trading style. Their subscription is supposed to help reduce that risk.

 

 

 

The user must enter the lot sizing, stop loss, take profits and there are no limitations on those variables. There are no time or operational limitations to run and test the program on a demo account. Using it live requires a subscription. It's been a while since I've been to the website but it used to provide basic pairs and scenarios for trading, while the real goodies are obviously for paying members.

 

hope this helps

Mark

Thanks Mark for useful information....:)

flexie - Today 09:19 PM View Conversation Edit Report

hello iCan (thread moderator)

 

I am the programmer who worked on the Smart Trader project that is currently being decompiled and distributed on your forum. I was advised of this and have since contacted the Copyright owner at WindsorParkFx.com. I request that the distribution of the code be blacklisted immediately as WindsorPark provides an unlimited demo version for traders to learn with. The decompilation and distribution of the mq4 therefore can only be seen as a deliberate attempt to circumvent licensing fees due to the owner.

 

While I did not invent the original algorithm for the program, I am willing to answer any questions I can on the program and it's usage.

 

Thank you for your time.

Mark Flexhaug

British Columbia, Canada

pipaholic at shaw.ca

Hello, thanks for introducing yourself...my comment is that Smart Trader maybe a good EA but price wise you guys are asking a lot and if you guys could reduce the price people would be willing to purchase it....also, does this EA work on cents accounts? what are the limitations of this EA?

what is your input for "iLotSize"? default it is zero...

same as default, zero...I have it also running on demo account and friday it opened 8 trades all positive...it seems like it is not working on live accounts....don't know...

Does anyone know if this EA works on cents accounts? I tried to use it but it gives the following error on live cents account, maybe it just works on dollar accounts, I used different lot sizes but seems to me it is not working on live cents accounts:

2011.06.10 23:49:25 Smart Trader-edu GBPJPY,M15: Error placing market trade: BUY 0.01000000 Lots at 130.18500000 SL/TP = 0.00000000/0.00000000

2011.06.10 23:49:25 Smart Trader-edu GBPJPY,M15: 2011.06.10 15:49:21 - ERROR: Failed to place order due to critical error.

2011.06.10 23:49:25 Smart Trader-edu GBPJPY,M15: Wrong calculation of trade volume!

2011.06.10 23:49:25 Smart Trader-edu GBPJPY,M15: Last error: 131

usdcad goin' live ?

 

http://img191.imageshack.us/img191/2347/cattura2d.jpg

It may make sense to go live on this.... the only way to know if it works well is to go live, live....anything else may just be waste of time....so far, it performed good on my ECN demo account....

Looking at the mq4-code...

 

"iInstantOrders" is similar to the "ECN"-setting in other EA's. That is, many brokers (often ECN-brokers) does not allow TP and SL to be sent at the same time as the order is sent, so a OrderModify request must be sent right after with the SL and TP. Default value for "iInstantOrders" is "FALSE", meaning that it will work on any broker. If this is set to "TRUE" then the broker must allow SL and TP to be sent with the OrderSend command.

 

"iNotify" is a setting to activate Alert-message windows upon errors. Default value is "FALSE".

Thanks Capella for info and looking at this.....:)

Hello falconwest,

i have no idea what those settings might be about. I just leave them at default.

 

And as far as i know there is no manual. But everythink that is important can be found atthe windsor blog: http://windsorparkfx.com/blog/category/smart-trader-settings/

Capella got the answer, see the post #18...Thanks anyway...:)

if in general you like hedging... go for it, but wisely. that does not make that EA brilliant. just use it for few months (will be good if you get all market's cycles...) and then, if you like it, go live

 

or just go live now :) perhaps it is time for your luck...

Agree, going for hedging must be done wisely...I'm already live on it with $100 as a test to see how it performs in live condition, the EA is far away from being brilliant....I meant hedging is a brilliant practice even when it comes to Forex trading....

Hello,

 

Maybe i can answer some of your questions. In Feb. this newsletter was sent by Windsor:

 

____________________________________________________________

Smart Trader's secret is this:

 

Smart Trader will make more money for you on the CADJPY and USDCAD!

 

 

On the CADJPY and USDCAD, Smart Trader will trade

more often (more consistent wins than other pairs),

 

with fewer losses (only 4 out of 296 since May 2010, or 1.35% / 98.65% Win ratio),

 

and greater profit (you can increase the lot size because of the tiny "max drawdown")!

 

After compiling and reviewing Smart Trader data from the last 8 months, the CADJPY and the USDCAD are the new dominant pairs to trade with using Smart Trader!

 

The GBPJPY was a stellar performer for most of last year despite some stop loss hits, but now it is clear that the CADJPY has taken the crown!

 

GBPJPY vs. CADJPY

The CADJPY had 62% smaller max drawdowns

 

So, run a Smart Trader demo with both the CADJPY and the USDCAD on one account with the following settings:

Conservative settings for CADJPY and USDCAD

0.20 lots per $10,000 (normally 0.10 for other pairs)

Stop Loss: 2000 (that's counting in micropips, or 200.0 pips)

Max orders: 5

 

And let us know how your trading turns out!

------------------------------------------------------------------------------------------------------

 

( You just have to registor on their website and you will receave their newslette too. Their way is to give the demo for free so you can try , and than finaly you buy the live -Version. Of course thats what they hope. They are running themselfs some accounts, allways trying to find better settings. I thing that is a fair strategie.

 

I believe a good way to start up with that EA is to use only those two pairs: CADJPY and USDCAD, with the given Settings in the newsletter. If you use the konservative Mode it will trade only once or twice a week, but with a very good winningrate. So you might want to increase the lot sice later on but take you time.

 

TF: The TF does not really matter. I always take H1.

 

TP: The TP is calculated dynamical which i like. If you prefer you can choose the Version of Capella with a fixed TP. But stay low, maybe around 10 Points.

 

SL: If you choose a SL depends on how you will handle the EA. Of course you have to take a SL if you cant watch the trading at lease twice a day. But if you can, you might not set a SL and kontroll the EA manually. For that i monitor the Positions in H4 and watch the graph not leaving the normal "weekly range". If a position falls out of the weekly range chanel it becomes rather unlikely that the Position will be closed in profit. So i decide to give it another changse or to close it in Loss.

Thanks prophetvs, I understand now...what is the "iinstantorder" and "inotify" values? do you leave them at default values or need to change them? I understand conservative mode will have you less trade in a week but I believe aggressive mode will give you better risk/reward ratio without increasing your lot size...I think this is a good EA just needs good MM to keep your account alive...do you have manual of this EA?

IMO you are just lucky....

here is the old link to myfxbook, see what happened on Nov'30, its with 0.01 lot.... (balance 10436, equity 8494, for DD of ~2k)

 

http://content.screencast.com/users/myonlinecont/folders/Snagit/media/9aa12ee1-297c-4659-ae3d-b537d010419a/06.08.2011-11.51.52.png

I guess so... :) but the hedging is a brilliant thing and if this EA could manage DD in a more efficient way, then most of your equity would not be locked down on DD...this EA needs more improvement on DD, other than that I believe strategy works well although hasn't yet figure it out how...do you know of any hedging EA which performs better than this one? Thanks.

I just went live on this one with $100 on ThinkForex (fixed spread, 200:1 leverage) with the following settings:

 

Pairs: GBP/USD, EUR/USD, AUD/CAD, USD/CAD, USD/CHF

 

Risk: 2

 

Lot: 0.02

 

Max Trades: 1

 

Auto Lots: True

 

Hedging: True

 

Everything else, default....will report back in a week to see how it goes....I only used "hedgingscalper-XE.mq4"

Account balance 50%+ up ($155) after one day...equity $102 and DD -$52, I reduced risk to 1% to avoid more DD, seems doing all right, will see what happens....

According to the mq4-code, the takeprofit value is calculated dynamically within the EA and has no fix value. I've now changed this so we have an external TakeProfit. The default value is 0, which means that it will use its internal dynamic calculation. If it's set to anything else (in pips) it will use static TP. Enjoy :)

 

http://www.2shared.com/file/R8oNKB24/Smart_Trader-edu.html

Thanks Capella, I believe dynamic calculation is more beneficial as the EA constantly monitors market condition and adjust it accordingly, does this EA has stealth function built-in? Also, did you try TF on demo or live account?

Here are all files, incl. the working educated version (no need for the dll-file). Note, the settings must be adjusted otherwise the EA will produce errors. Is thre any manual for this EA?

 

http://www.2shared.com/file/Xxq0oWzd/Smart_Trader.html

Thanks, what time TF I should use this on? what are the optimal settings?

I just went live on this one with $100 on ThinkForex (fixed spread, 200:1 leverage) with the following settings:

Pairs: GBP/USD, EUR/USD, AUD/CAD, USD/CAD, USD/CHF

Risk: 2

Lot: 0.02

Max Trades: 1

Auto Lots: True

Hedging: True

Everything else, default....will report back in a week to see how it goes....I only used "hedgingscalper-XE.mq4"

Hi all,

Here is Shark 6.0 Ultimate, it is educated...enjoy!!

http://www.filedropper.com/forexsharkv60ultimate