outcast Posted January 15, 2010 Report Share Posted January 15, 2010 Re: Forex Mercenary Could be any number of things going on, but I don't see how on earth this could generate over a 1000 winning trades in a row! The signals come too fast for me to take every trade, so I just put one in earlier today. Got stopped out, but I would have taken profit if I had the system running sooner, before the candle had opened What I tired to do was this I used my fxcm micro account and set tradestation to 1 click trading set a SL at -10 and a TP at 10 and try to use it this way and adjust the SP and TP after entry. I only made 1 trade which got stopped out. The trade I took had a TP 10 and SP 10 but then the next signal they changed and got smaller right down to 3 pips I think which is insane so I just left it and as a result got taken out. Anybody having a good experience with this Quote Link to comment Share on other sites More sharing options...
Steveg Posted January 15, 2010 Report Share Posted January 15, 2010 Re: Forex Mercenary Doesn't make a great deal of sense. Has an entry price and a stop loss (15 pips). No target. Instructions unclear. Recommends an OCO order. Why? Same trade repeats within seconds. A black box. Quote Link to comment Share on other sites More sharing options...
seggyson Posted January 15, 2010 Report Share Posted January 15, 2010 Re: Forex Mercenary I got the forex mercenary software and all i can say is "good". Though there was losses and not as claimed on the website. I don't think this software could have generated a thousand pips without any loss at all. But in rating it's still fair , i got 4 trades with 3 wins and 1 loss. This software uses 1:1 risk reward ration i.e tp is 7pips and sl is 7pips.But i noticed it only give a Short signal . Anyone with any different result Quote Link to comment Share on other sites More sharing options...
trade4life Posted January 15, 2010 Report Share Posted January 15, 2010 Re: Forex Mercenary On which platform you guys recommend to trade? I tried Alpari UK MT4 and prices are already diffrent from the time when signal is come up... So what i'm trying to do now is sell strait away if price exactly the same or even higher then signal shows so i'm selling it strait away then modified with s/l t/p size one, i'm up 200$ after few trades, but because software generates same trades there is no point to another one, just wait for each result then start over again, also signals are always "short" that's strange :-? Quote Link to comment Share on other sites More sharing options...
soundfx Posted January 15, 2010 Report Share Posted January 15, 2010 Re: Forex Mercenary Hi trade4life, The system should work on any broker, though with a signal/manual entry system like this there will always be a lag when price is moving quickly as you're inputting your order. Because the trades have tight targets and stops this lag will cause problems. That's why it's an odd way to code a system. This sort of system is perfect for an EA. If you want to get as close as possible to the price feed they use, I think I read somewhere that the feed comes from f*r*x.com. Quote Link to comment Share on other sites More sharing options...
trade4life Posted January 15, 2010 Report Share Posted January 15, 2010 Re: Forex Mercenary yeah that's what i heard, they recommend that f*r*x.c*m in manual as well.. Quote Link to comment Share on other sites More sharing options...
mag871 Posted January 15, 2010 Report Share Posted January 15, 2010 Re: Forex Mercenary I myself have tried and tried to get this to open. But to no avail. Kind of frustrating. I try to open the batch file and get a quick flash of a dos screen. Any one have any recommendations? Thanks, Quote Link to comment Share on other sites More sharing options...
jacknie Posted January 16, 2010 Report Share Posted January 16, 2010 Re: Forex Mercenary Hi Guys, I am testing the software on Demo first to see if the claims are real. Here is my experience ... A. One thing is sure with TP and Sl of 10 pips it is impossible to make money. I tried it and SL closed almost all the trades. So this approach will not work, period. It is too close + spread etc. impossible. So there is definitely a flow, at least for me (I would like to know what experiences you have had?). B. Now in terms of 10 pips; the lot size has to be substantial if you would like to see money (on $1000 I would say 0.5 or more), since it is only 10 pips. C. The volume of signals that I have received (all short) within small differences etc. 1.4378, 1.4375 etc.) made me wonder what was the strategy behind? Should I follow all the signals? I think that there were more than 10. So, if I follow the signals and open trades that it would equal to 10 trades times 0.5 = 1 trade of 5 lot size. This is quite substantial. Well, to make long story short; this is what I did: a) I assumed that the signals generated were correct (at least that what all want to believe James and his team). b) I decided to trade lot size 1.0 to see some dollars not cents and set TP to 10 as original. I increased SL to 20 pips to give room for the trade to succeed. c) Once I received a signal, I did not enter right away. I have noticed that there must be some time delay (I am still confused about the time that comes with the signal – but this is a different issue). I setup Bollinger Bands on M1 timeframe after receiving a signal I waited for the price to reach the upper band – then I entered. This gave me extra pips of margin to trade. My results on $400 demo: 4 trades reached the target $9x4=$36 1 trade reached SL=-18 Profit = $18 I traded this Friday, afternoon EST, so the market was mostly sideways. I believe that in a trendy environment, it would have picked up those trades quicker. Since there is only 10 pips of potential profit and time is very sensitive, I think that the system will slave anyone to the computer all the time. These signals come quite often and if there is a slight movement the popups interfere with setting up trades. More testing needs to be done to draw a conclusion. I am quite certain that we will receive a new update to the software soon. There are too many signals generated too close to each other giving a little time to setup a trade. There will be a lot of people confused and will find this software useless because of that. I would love to hear your experiences. Jack Quote Link to comment Share on other sites More sharing options...
btrack707 Posted January 16, 2010 Report Share Posted January 16, 2010 Re: Forex Mercenary how exactly to use this tool? I have extract it to my desktop and tried the bat file...nothin happen...I also downloaded Java and installed it...still nothin happen...can anybody here with a kind soul give any tips to make this tools work on my pc...btw i am using XP...thanks again.. ^:)^ Quote Link to comment Share on other sites More sharing options...
jacknie Posted January 16, 2010 Report Share Posted January 16, 2010 Re: Forex Mercenary how exactly to use this tool? I have extract it to my desktop and tried the bat file...nothin happen...I also downloaded Java and installed it...still nothin happen...can anybody here with a kind soul give any tips to make this tools work on my pc...btw i am using XP...thanks again.. ^:)^Hi, a. Uninstall java from your computer. b. Follow the link in your manual to get java. c. If your computer is 32 bit - use 32 version if 64bit - use 64 version & restart your computer. d. Test of java website if your java is working. e. Unzip the Mercenary software f. Double click bat file - at that time in a couple of minutes a windows pops up. g. Click the start button. You should start receiving feed in a couple of minutes. These are the steps. It should work. If it does not - your operating system (firewall etc.) or java is not allowing to communicate with Mercenary software. Good luck, Jack Quote Link to comment Share on other sites More sharing options...
jacknie Posted January 18, 2010 Report Share Posted January 18, 2010 Re: Forex Mercenary Hi Guys, This my continuation of evaluation of the Mercenary software. First of all, the consequetive wins as claimed in the videos with 10 pips SL is impossible. I have devoted the Asian session yesterday Jan.17, 2010 and was entering the signals as generated. Results were devastating. The market moved sideways and very quickly all the trades vanished. Then I decided to increase the SL to 20 pips and the result was much better - 50/50. Then again there were so many signals coming your way with very little difference e.g. 1.4365, 1.4366 - you get the point, so if you enter them all even using small lot sizes, it will grow to a substantial amount and no one would mind it if they were all winner, but they are not. Before totally dismissing this software/signals, is there something I am missing in here? Guys what are your experiences? Jack Quote Link to comment Share on other sites More sharing options...
freakgib Posted January 18, 2010 Report Share Posted January 18, 2010 Re: Forex Mercenary wel i did test it also now a few times and my gues there is totaly no logic behind it the only thing it does it just gives u a Short signal as soon as u connect with a stop and a profit of arround 8-10 pip and it repeats it every 5 min the problem i also have is when i connect i get a signal popup at the moment i close that popup i get a new signal if i dont close that popup no new signal and mostly after a few popups it disconnects and i have to connect again and then gives signals again mostly starting at rounded time numbers like 14:10 14:15 14:20 enz but when it start to give a signal u get a few signals every time u close a popup window luckily i did trade them on a demo so far i dont like the signal service Greets freak Quote Link to comment Share on other sites More sharing options...
soundfx Posted January 18, 2010 Report Share Posted January 18, 2010 Re: Forex Mercenary Hi Guys, From what I've seen, this system is complete rubbish. I agree on the 1,000+ wins in a row with the short target and stop being impossible and I strongly suspect that this marketing hype is based on that dodgy backtester which makes no sense at all to me as virtually every trade backtested seems to be a winner lol. Even if the signals were any good, the interface is hopeless and even basic bugs like ensuring that prices are shown to 4 decimal places rather than 10 weren't fixed in the released version. I don't understand the language the code is written in, however from what I can make out the strategies will only ever place Short trades which makes no sense either. The system appears to only trade EUR/USD too, so placing Short trades from Sept-Nov this year on EUR/USD would have caused a lot more losses than wins as EUR/USD was in a long term uptrend still and that channel wasn't broken until December. The guy who wrote the code is supposed to have worked as a "quant" from what I can make out and it appears as though he should be able to create decent systems which is another odd thing. The code in the directories is messy and contains all sorts of test bits of code which should never have been released with a production version. The code seems to use some form of fancy genetic algorithm coding, though there's nothing fancy about the signals which just seem to be "Short" every 5 mins with around 10 pip stop and 10 pip target. I'm not going to waste any more time with this one, though I'll be interested to see if all the problems get fixed, they create a useful backtester and they release a version which places long trades too. I suspect that the guy marketing this hasn't a clue about trading, otherwise all these blatant errors would have been ironed out before release. Quote Link to comment Share on other sites More sharing options...
seggyson Posted January 24, 2010 Report Share Posted January 24, 2010 Re: Forex Mercenary Hello Guys, This is another version of the forex mercenary software. They said this is the second upgraded version http://[email protected]/file/206337323/6c59000a/advopt.html Quote Link to comment Share on other sites More sharing options...
rey_shooter Posted July 29, 2010 Report Share Posted July 29, 2010 big thanks to you... million kudos... :D Quote Link to comment Share on other sites More sharing options...
hermes Posted July 29, 2010 Report Share Posted July 29, 2010 Mercenary didn't work for me either. But then I couldn't get rid of it! Hermes Quote Link to comment Share on other sites More sharing options...
jessica_30 Posted April 19, 2011 Report Share Posted April 19, 2011 (edited) Forex Mercenary is one of Forex Trading Signal Software. Included with the software is an easy-to-follow instruction manual, strategic explanation, and lifetime support including free updates to our software. This will offer tremendous value to the customer and will churn out automated profits, no matter what's your level of experience in Forex. http://imagicon.info/cat/3-4/1.gifhttp://imagicon.info/cat/3-4a/1.gifhttp://imagicon.info/cat/3-8/1.gifhttp://imagicon.info/cat/3-5/1.gifhttp://imagicon.info/cat/3-1/1.gifhttp://imagicon.info/cat/3-6/1.gifhttp://imagicon.info/cat/3-2/1.gifhttp://imagicon.info/cat/3-3/1.gifhttp://imagicon.info/cat/3-9/1.gif Edited May 14, 2011 by jessica_30 Quote Link to comment Share on other sites More sharing options...
torito1 Posted April 20, 2011 Report Share Posted April 20, 2011 hey guys....what software do i have to run to make the system start .....i do not know how to run the forex mercenary....can any one help me out plssssss Quote Link to comment Share on other sites More sharing options...
Manideep Rana Posted April 21, 2011 Report Share Posted April 21, 2011 hey guys....what software do i have to run to make the system start .....i do not know how to run the forex mercenary....can any one help me out plssssss read through the thread it's mentioned. Quote Link to comment Share on other sites More sharing options...
flogger Posted February 15, 2012 Report Share Posted February 15, 2012 For newbies. Iwould certainly recommend etoro. Their OpenBook system is just quite essential in the learning stage. You can track down real traders in trading real time. Not to mention, their minimum deposit is only $50. Check out their demo. _____________________ You're never a loser until you quit trying. http://imagicon.info/cat/3-4/vbulletin-smile.gifhttp://imagicon.info/cat/3-4a/vbulletin-smile.gif Quote Link to comment Share on other sites More sharing options...
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