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Forex Unlimited Wealth


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Re: [REQ] Forex Unlimited Wealth

 

This EA has great potential but please backtest it first, then you will find that it loses once or twice

in 2009 .... but only on Mondays.

The author therefore advises to run it only from Tuesday until Friday.

(Unfortunately it has one losing day on Thursday too)

 

It uses Martingale-strategy, but with hedging and a defined stop-loss to protect the account.

 

I cannot show results because I did not use the EA for months.

Why ?

Simply because I had not enough funds to run it.

 

The author advises to start with 2000 Dollars for each pair traded , trading Micro-lots.

I started with 700 on a live-account and it made 3% daily, but then I was too much afraid to continue

and stopped trading with it.

 

The author advises to not run it on the opening of London or NY-session , but that would be extra cautious.

 

I am not here to advertise it.

Everybody has to do his own backtesting and forward-testing and many would say: "Martingale ? No thank you."

So just make your own decision.

 

I will use this EA as soon as I have enough funds (maybe on a Cent account).

I remember from backtesting it, that it made an average of 5 to 8 percent profit weekly, running from Tuesday until Friday.

If you register your account through a backcash-company , you will be amazed how much rebates you will get because this EA makes hundreds of trades a week.

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  • 2 weeks later...

Re: [REQ] Forex Unlimited Wealth

 

Hello fellas, i have done series of backtest with this EA, its true that this EA has a very greater potential: to burn account and to make one rich.................here are my observation on this EA......

Firstly we will need the work of some of our great coder here to include trading on monday to be forbiden, then making it to be timing settings so that we can be able to select our own choice trading hours........this is because this EA will have most of the problem with some major news release............

 

Secondly, we will have to stop this EA for like 2-3 days i.e first 2days f new month and last 2 days of the month.

 

I think if we can do this this EA will bring cash like a great ISEA.........they have same ability if we can make it like that.

 

Lastly the trading time-frame should be 1hr instead of 15minutes while all others parameters unchanged. Presently am using it on EURUSD live and it has been pretty cool but am afraid because of the day of hazard am quite sure that it will burn account no matter the account volume.

Thanks

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  • 2 weeks later...

Re: Forex Unlimited Wealth

 

Last week I traded the UW-EA on a live account at Liteforex (Cent account) with 16.000 balance.

min-lot there is 0.1 , so it must be changed in the settings.

 

I traded it on EURUSD and AUDUSD , both 30M timeframe and it did very well.

It makes many trades and since I registered the account via backcash, I will profit from the high frequency via rebates.

 

In order to protect your account, you should listen to what I and wesladf posted already.

No trading on Mondays etc.

 

UW survives big news-announcements easily if it is by chance on the right side of the trend, otherwise

it will open 0.08 lots on microlots all the way the trend is running until you get a margin call.

I had it on a demo-account with 100k balance on USDCAD and it managed to get a margin-call of this.

In order to prevent this to happen, you can set the balance-protection and take the predefined loss instead

of losing your account.

 

I have uploaded it again on request and edited the posting because the old link did not work anymore.

Enjoy and take care.

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Re: Forex Unlimited Wealth

 

can one of our programmers do the following:

 

turn off trading on

1. sundays/mondays

2. the first 3 and last 3 days of the month

 

and add in the FF calc system.

"It is inconceivable that anyone will divulge a truly effective get-rich scheme for the price of a book."

Victor Niederhoffer (1943–), US hedge fund manager and statistician

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  • 1 month later...

Re: Forex Unlimited Wealth

 

It is a NewsCalendar.

 

Implementing this would mean the robot can read out the forthcoming news just to know when to stay out of the market. One of the uttermost essential trading tools I use ;)

 

 

You can search for the FFCal by using Google. We cannot mention the name of the site here since it's another forex forum.

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  • 9 months later...

It is a workhorse of an ea. I really liked it but it will have losing streaks sometimes. It will work great for awhile then later on sustain loss after loss. The ea does place a lot of trades which is something I like an ea to do, but not lose. If there was some way to get this ea to be more precise or fix the times that it trades it would be a very stable and awesome ea.

 

I can't stand getting an ea that is being heavily promoted as the next best thing and then when you get it - it never trades.

 

This ea is really good right out of the box, but you must be careful about when it trades. It is not one that you can turn your back on and be confident that it will do the right thing. The hedging feature is a very nice part of the ea that helps protect it somewhat, but even then be careful.

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