Sepp Malec

I am running Megelan with default setting for 3 pairs for almost a month with starting balance $5000. It has now floating loss around $500.

I lost 10% monthly, rather than gain 5% monthly.

you cant see much over 1 month with magelan, as there will always be some trades open when you are running it on more than 1 pair, so you will always have a some trades floating in red...

i have been running it from mid-august, and even if i just closed all open trades in loss, i would still have made money on this EA (ofcourse im not ****** enough to just close the open trades, as the averaging system has worked fine sofar).

i think RIO is right, a combined risk level of 1% is the best way to run this EA, i have been running with 1.1% combined, and havent had critical drawdown sofar.

I've been running with 1.0 risk per pair and it's been OK. I haven't seen any issues.

for example, Pyramid 8 uses 3.0 risk on one pair, so with 1.0 risk amongst 3 pairs on Magelan the risk is levelled out even further.

I haven't seen drawdown get up over 30% (and if so, not by much)

The nice thing is that balance is constantly increasing as drawdown stays fairly constant.

what leverage are you running with?

because i can see that there is big differens in the lot size that magelan chooses on a 1:300 and 1:888 account with 1% in risk level

They've changed their presets so that you have to set risk yourself (they've probably done this to cover their asses and to point the finger at other customers who overleverage).

To get it to work like 4.0 you have to set LOT_IS_FIXED to false.

1% risk per pair is about right. I would never use a total of more than 3.0 risk across all pairs, especially when averaging.

 

Anyways, I am reverse engineering the EA. Trying to rip out the averaging routines and the on-screen display... so that may I can rewrite large chunks of the EA and get it to trade a little bit like a proper trader.

It is taking a lot of time as it is a complex EA

yeah, just changed the risk to 0.4 per pair, as i was not shure if the 1% they have in the presets was for each pair, or for the 3 pairs combined

In the meantime, the EA profits some more and with larger lot sizes so that the losing trade lot sizes seem insignificant against the amount of profit being gained in the meantime.

that must depend on the account size, because mine is not increasing lot size when in DD

Hi Rio,

Did you try Magelan new version ? I did some backtests and see that it's showing not good result. I'm so confused about using old version or switch to new version :(

are you thinking of the new 4.11?

I have a boatload of orders in negative float at the moment... but still within the max 30% drawdown as advertised... so I am not worried. It's close to 15% though.

yeah, first time i have seen it have so many orders open... but i guess there is a first time for everything :D

Hi Sepp,

 

I bought it. Hope I will get back money soon. I dont have much money to trade...

My USD/CAD order is still open.

i have got a new usd/cad opened..

did you also load the preset for usd/cad?

if so, then its getting really weird :)

Thank you.

I don't understand how the equity graph shows 144%, while open positions in deep red with minus 485 pips..

:-O

thats because myfxbook dont add the 310$ i got in deposit bonus from my broker to account balance, but add it to equity..

so even if all trades are closed, my equity will show as larger than my account balance...

Hi Sepp,

Did you close USD/CAD order manually?

Mine still open

did you also buy the real version, or did you try with the EDU with errors?

Hi Sepp,

Did you close USD/CAD order manually?

Mine still open

no, it closed while i was sleeping

Why do you hide the open trades?

was that better?

they are never hidden to me, so didnt notice :)

hi, Sepp Malec, Thanks for sharing.

Is your xm account micro or classic?

are u running default setting?

hi there,

i use a standart account, i dont like the micro accounts way of using wrong lot sizes...

and yes, im running in the 3 pairs that there was presets for, and only thing i changed was that i set at fixed lot size, because i got a deposit bonus from my broker, and it doesnt seem that the EA takes this into account when doing auto calculations....

is it worthy to byit at $599. Anyone can share with us the live performance of this EA (i.e. on myfx book)

i have set custom analysis to only show the period where i have run this EA, as i tried "forexcombo" before Magelan, and that lost me some money. that has now been recovered.

http://www.myfxbook.com/members/ZeppDK/technical-analysis/626707

so if it dosnt blow my account at some point, then i think its worth the 600 bucks

Hi,

 

can you give me a short note, where I can see the homepage of Magelan?

 

 

Thx.

its expensive, but so far its working great...

http://expertforex.info/en/sovetnik_foreks_magelan.html

I'm going to do some more testing with Pyramid 8,and see if I can hack it a bit to make it more robust than XE2.2.... maybe do an XE 3 ;)

 

I really want to have an EA that can survive just about anything thrown at it.... although my concerns with Pyramid 8 is that the profitability isn't all that much.

yes, but then again, what is best, to risk blowing up, or to make a smaller % of money... i would say less money & survive, or maybe, as you say, combine some of the magelan features into it

I see from the data that the averaging got very unlucky in places. Some early averaging trades followed by move up in limited koefficient lock, then some heavy averaging trades followed by Bernanke's killing move that pushed it just over the edge.

yeah, it was really unlucky placement, but as it was only a demo account i just let it run, to see if it would survive :)

It would be interesting if you could show me the trades it took, and how much equity and risk the pairs were using so we can analyse the problem.

http://www.myfxbook.com/members/ZeppDK/pm-test/648985

RIO: on a side note, PM XE2-2 just blew up one of my demo accounts yesterday with your default settings..

it made some big sell trades along side the 2 big jumps upwards, and ran out of equity to make buy trades, so now i can see what you meen when you say that one should take out initial deposit from a live account when its posible, to be able to start over...

i think that it could have been saved if i had stoped the AV from making more trades :)

I ran the EA on GBP only from September 2012. Didn't crash for me.

 

Anyway I've moved on to using Magelan v4 live. Not running Pyramid any more.

Oh, and by the way - I had Pyramid 8 get fully educated. Will post later.

im also running Magelan V4 live, but would be great to also have pyramid 8, as im managing an account for a friend, using your XE 2-2 at the moment (witch still is awsome by the way).

do you have any idea of the monthly gain of PM8, because if i remember correct its not so agressive as the 5.2 version right? :)

Or you can go back to **** EAs:-

http://zorro-trader.com/manual/en/tutorial_scam.htm

hahaha, good reading :D

I'm using the default preset files that were given with the EA. I'm much like you.... yet to experiment with it. I just want to see the defaults in action at the moment.

okay, i just noticed that in the one i got for my demo account the risk was set to 10.0 per pair, and in the ones for my live account its set to 1.0 .... and then there is the big question, if it should be 1.0 running 1 pair, should it then still be 1.0 when running 3 pairs... in my head i then need to change it to 0.33 to divide the same amount of risk between the 3 pairs..

Magelan made 10% in 10 days with the 3 pairs and default set files..

what is your risk level when using 3 pairs? 1.0 pr. pair, or 0.33 pr. pair?

Magelan made 10% in 10 days with the 3 pairs and default set files... so realistically it'll probably reliably make 30% per month, and not the claimed 100%

Even still, that's really really good :)

Do the math on what you could realistically do with $5000 making 30% or more per month....

Also worth noting... no losing trades. Some drawdown, yes, but it was very very low DD.

 

okay, i couldnt resist, and have also bought the Magelan EA, and so far so good, but still need some bigger movement in the market to really see it in action, my plan is to get me a seperate account for pyramid XE, to be shure that if one EA blow an account, it dont take the other down with it.. :)

Honestly, I'll be happy if it makes even 20% per month. 100% is awesome. More than that per month is getting into silly-talk for an EA.

hahaha, you are right.... sales mombojombo :D