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Based on the FAQ posted on their sales website, you need at least USD 3,000 for nano lot size, 0.001. If you wanted to trade micro lot size, 0.01,it should be USD 30,000. The leverage should be 400:1.

 

Not sure the amount is only for Long Cycle strategies or both Long Cycle and Short Cycle. The short cycle is more aggressive with smaller grid distance.

 

The strategy is grid + martingale. You need a lot of capital in your account to prevent margin call when the price trends.

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Power edition account initial deposit is 5000 and 0.01 lot. High risk and high profits!

 

IMO you should make regurarly withdraws with this kinds EA's as it is recommend. If you survive to reach initial deposit, then you have nothing to loose.

 

You cant trade micro lots on only 5 K. It has to be nano lot 0,001

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Please read it FAQ before using this EA, especially on the initial capital, leverage required and type of account. It's very risky if you do not meet the EA requirement.

 

I ran the EA on AxiTrader on demo with 30K and once, the margin used was more than 10K! Because EURUSD and GBPUSD rallied up more than 100 pips and each pair has opened a position of 18.9 lots !!!

 

Please be extra careful with this EA or any Grid trading EA.

 

FAQ Link:

http://www.forexenvy.com/faq[/Quote]

 

What broker(s) do you recommend?

We would like to inform anyone considering becoming a member of Forex Envy that our EA requires very specific account conditions in order to function properly. Bellow you will find a chart diagramming which broker should be used with the level of capital you plan to trade with.

 

$300-$10,000: Trading Point, Trade Fort, Profi Forex and Insta Forex (all these brokers offer pico lots)

 

$3,000-$500,000: Lite Forex and IBFX AU (these brokers offer nano lots)

 

$30,000 and higher: FX Primus, Fin Fx as well as most other brokers that allow micro lots, hedging and leverage of 200:1 or higher.

 

$60,000 and higher: All brokers that allow micro lots, hedging and 100:1 leverage

 

If none of these brokers are suitable for your level of capital we recommend joining our PAMM account, which does not require you to purchase our EA.

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  • 2 weeks later...

Hi Pavlus,

 

What type of a cent account do you trade with? I can see that CentLite and CentNDD would be appropriate but I am not sure about Lite one because it has limitation of 10lots maximum open trade. Therefore NDD might be more appropriate... Which one do you use?

 

thanks, f.

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hi all,

Many thanks to palvus for the EA, .

ive been running it for 2 weeks and have produced 24% gain (58% per month) with 23% drawdown.

im comfortable with the DD due to watching the trades and with the current highly volitile EURO situation..

 

i believe the version we use is V2.0. there is a V2.1 and 2.2 out but 2.2 is having issues.

V3.0 is due any day and expected to be great. im guessing pavlus or others may find edu'ing it difficult - hopefully not.

 

So, the EA is fantastic but be warned, it is martingale/grid and could run your account dry. with 1/2 hr per day and some fx knowledge you can run it safely.

if you become serious about using this EA, you should read and keep up with the thread on donna forex:

www.donnaforex.com/forum/index.php?topic=4935.0

i read pages 1-30 then from 100 onward. its a huge thread but has contributors that are passionate about the EA as well as the EA author.

 

happy trading

ps. trade fort seems to be the best broker to use on currently. im using trading point, but apparently the ea has issues with this broker due to the high ea/server traffic.

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Jimsmith,

 

What account balance and sets did you use during your forward testing? Thanks

 

US$200 / 360-480 sets

- note this is over leveraged but i figured with a200 $ balance i'd see if it coped...

i run the long cycles constantly and the short cycles intermittently when the markets seem calm/ ranging.

- not that that has happened this week

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