I have been seriously thinking about stopping Don’s MTF EA. It has not been yielding me very good results. It is a very complex system and it seems very difficult to understand or tweak. Don suggest that you don’t tweak it as the default settings has help yielded huge pips…
His result has been great but I can’t seem to emulate his results. I digged and digged right into this forum, and found out that HIS PERFORMANCES IS THE TOTAL TRADES HE TAKES IN PARALLEL OTHER THAN MTF EA!!!
Now I can’t really find where did he ever state this but this is what a long time Don EA users who has a blog on it says on his post here . This is a very clear misrepresentation on his website.
If you go to his forum here , you will come to understand that most of us (like me) thought that we were not doing it right. And so, we continue with our faith in this EA trying to understand where we did wrong. Correct it and hope to make the kind of pips that Don is making.
While some forum member thinks Don is not telling us the whole truth, the other half are great supporter of Don’s work.
Looking at how my IBFX account is doing, after what… 1 year of live testing and no profits to show for it, I think this is the best time to call it QUITS on Don’s EA… Screw it… It’s not whether I did it right or wrong.. This EA is too complex… to understand in the first place… I was taken by the fact that this EA was profitable until I really read James blog.
But at the same time, I may have found another use for Don’s EA… It has something to do with firebird EA. Did some research and will share with you on the next posts….
UPDATE: I have uploaded the newest version of Don’s EA on my download page… Happy trading this EA.
I have to agree with you. I stopped using it too. Don claims you can just set it and leave it alone! If he said we had to learn and constantly watch fundamentals, etc. (like some are saying in response to criticisms of this robot) than he should have said so. Most of us are too busy to do this that’s why we buy the robot (which is also its sales pitch). It’s misleading otherwise…
BTW – I’m a doctor and have sound fundamentals. This robot still managed clean me out of my accounts on three occasions. In theory, if you leave your trades open and have unlimited finances and time, of course your trades will eventually rebound. So what Don claims can be applied to every trade principle and robot in the history of mankind. But then why have a robot at all? Why just not arbitrarily open trades and let them run until they profit – even if it takes forever. Theoretically, every trade should turn profit between now and the end of time.
Sorry, this is not a sound fundamentals, it breaks the cardinal rules of trading, and will eventually bust you long before the end of time.
Dr. Stan
Thanks Dr Stan for visiting my site.. You don’t have to be sorry. If one is trading base on a robot, then it has absolutely nothing to do with sound fundamentals.
Having said that…. your theory that every trade should turn profit… interesting…
Care to share more information about that?
For me if an EA is not profitable, whether it is sound fundamentals or not. I would dump it.
I am and still am ignorant about forex market. I guess my journey here will continue to help me learn more. But so far, I do not have the time to monitor market both technically and fundamentally.
I spend that time blabbing about EA and testing robots… Well, once I found my EA and become more profitable. Leave my job then maybe I’ll look into trading manual.
A lot of people think that trading manually is the key to higher profitability. Will want to experience that soon…
Hopefully my journey with Firebird EA which is partially semi automatic will give me a glimpse of that…