Forex Casino

Filed Under (EA System) by Casey on 24-06-2010

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Forex Martingale Showcase II – King Martin Scalper

Now here is an idea which I believe never occurred to anyone. Ok… maybe it has but I don’t think it was never really realized until I stumble upon it.

It’s call the King Scalper but I renamed it King Martin Scalper. For the reason that this particular ‘scalper’ application is very very different from your normal EA. It not only scalp like 15 pips per trade, but it utilizes martingale.

This strategy is so simple that I just went like ‘Wow!!’

This is how this EA works. It ‘bet’ on one currency pair and if it losses it double up the lot. Plan and simple martingale. It’s a ‘scalper’ because it only takes 15 pips. However, this is not your ordinary scalper because the stop loss is also 15 pips. The idea is that… see if I win the first trade.

So if on the first ‘bet’, the trade losses. It takes on another ‘bet’ doubling the size. etc etc. When it hits it’s profit target. It starts all over again. And at every successful Martingale round, I win 15 pips.

Is this forex casino or what… :) (I am going to trademark this name)

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How Lucky Can I Be?

Filed Under (EA System) by Casey on 23-06-2010

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Forex Martingale Showcase I – Lucky Candle

Since my demo page is up and running… I thought I will start with showcasing the first martingale EA that I am fooling around with.

Lucky Candle… How lucky can I get when I saw his statement…

(This is a screenshot for my record. Just in case the owner wants to delete it. Click on the image to take you to his myfxbook statements)

Would it be a surprise if I told you I have this EA?

But… I did not mess around with it because at that time scalping EA was still hot and Martingale EA… Well… it was not as hot for obvious reasons. But recently… the ‘market force’ seems to geared towards this hot mama only because everyone is fed up of scalping EA. It’s not because of the straight linear graph which everyone seems to say it’s too good to be true or the account is going to blow one of these days.

Scalping and Martingale is no different… same concept of small profits over time but large losses when it really hits it.

Anyway… Market seems to be moving that direction and of course Lovely Megan is so close to my heart. So what the hell… let’s talk Martin.

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Glorifying Martingale

Filed Under (Journal) by Casey on 18-06-2010

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Paul Pierre Levy the guy who came up with Martingale

Paul Pierre Levy the guy who came up with Martingale

Well.. the demo page is up and it looks fun.

Anyway… I have notice lately that there seems to be a direction which the commercial EA is going back into. Namely Martingale sort of EA. Then again it’s just probably it is just me who is keen to look for Martingale EA to add to my Megan account.

I can not but accept the fact that Martingale EA can produce a very nice linear graph with minimal drawdown. My approach as seen it last for as far as 6 months. Going through all the news and volatility of the market which is probably one of the reason why it affirms my believe that my approach to Martingale is probably correct.

I feel that there are many ways to play with this strategy.

Martingale EA is a double edge sword, one side being sharper than the other. The question is how to handle the sharper part of the sword. Some people say money management, some people say hedging, some people say diversify.

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Demo Account Vs Live Account

Filed Under (Journal) by Casey on 16-06-2010

This debate seems long been settled. EA operating on demo account sometimes means jack. It may perform well on demo but it might not perform well live.

It’s very logical really. When we open a demo account, we are connected to a different server. The price we see is the price we get. But when it comes to live account, it’s either our orders are filled via a dealing desk or whether the market will take your order.

However, I never have any experiences with ECN brokers so I can not say for sure if demo vs live account on ECN broker does have a differences.

On top of that there is an issue of latency… How ones MT4 connects to your brokers server.

Initially people would rely on backtesting results to see if a EA is worth their time to invest in. But after very wide inconsistent results. The masses have moved to looking at the performances of a demo account to make their judgement.

And… now it seems that even demo account is not a good indication of a good performing EA.

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I am Still an Amature

Filed Under (Journal) by Casey on 11-06-2010

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Last month I entered a contest to see what I was made off and now the contest with MyFXBook.com is over…

http://bestforexea.com/2010/04/time-to-see-what-i-am-made-off/

I used different type of EA to see and utilize an idea to see if by managing these so call forex robot soldiers, how well will it perform to allow me to win the prize money.

Sad to say… I lost.

So… what did I learn from this.

  1. To be humble.
  2. There is still a lot of things for me to learn.
  3. My idea is $hit and will need to fine tune it
  4. Back to basic go back to discovery
  5. Learn more and engage in more discussion forum

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Internet Marketing on Forex

Filed Under (Journal) by Casey on 09-06-2010

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Internet Marketing is practically BS and it becomes so loaded with BS that it is so apparent when internet marketing trying to push products like Forex EA.

I am one who has tried my hands on internet marketing but failed miserable. Why? Because I can’t BS as good as those who can. And those who can really BS are the one who makes the most money. And those who make the most money are usually call scammers. Especially in the Forex EA world…

There is a sucker born every minute. That is true… and I can admit that once in a while I was that sucker who was born and reborn every now and then. But I guess as time goes by I kind of became more wise when it comes to products on the internet.

I no longer get ‘bong’ by the big make $hit loads of money sort of tag line. Once bitten twice shy sort of thing…

But one thing interesting to see is how internet marketing tries to BS their way into forex. I guess these sort of internet marketing approach worked for a while. But those forex veteran were smarter. And most veteran forex guys will see or rather smell a ‘scam’ when they see one.

Again… I guess these website is not for them. It is for suckers that are born every minute. And I don’t think there are any more suckers born that would take up their BS especially in forex with their internet marketing hype.

Or could I be wrong?

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Monthly Update ~ May 2010

Filed Under (Journal, Performance) by Casey on 08-06-2010

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Ok… Finally got my rebate in to close my month of May 2010.

Well… I still got hit in my Alpari… still my rebate keeps rocking it up.

I guess by now I should say… one should ignore my GoMarket account for the time being. Well.. for reason that I have already clearly mention in my previous post.

So… if I were to only look at my Alpari and FXOpen account. Taking into account only rebate from these account…

It will be as such…

Alpari May 2010

FXOpen May 2010

I must say I was not happy with my Alpari account and corrective action has been taken. So.. .I can only say that every little rebate helps.

Oh…. and of the main contributor to my down side of Forex Bling… which I have taken out of my account. It seems that it does not ‘Bling’ for me any longer. Sigghh… NEXT….

As for my FXOpen account…. My Lovely Megan seems to be making strands. Lovely 10% gain this month. But… I try not to speak too soon. Things could happen. And I hope that all the backtesting results proved that this strategy will hold for as long as it can.

So for the month of May… I am somewhat please. My aim for June will be to see if there is any other strategy I can employ to help recoup or rebuild my ailing Alpari account

Damn Lazy

Filed Under (Passing Thoughts) by Casey on 07-06-2010

I have been damn lazy these past few days. Probably unmotivated is the right word. After posting my rebate report, I just could not find any other things to do.

I just sit back, watch my accounts, chill out at home in front of the idiot box watch reruns of House MD and 24. Both great TV series if you ask me.

I just could not be asked about forex. Sighh… the ups and downs of life I guess

I always remember this saying by Warren Buffett. When there is nothing to do, then do nothing. Or something along that line. I believe he was referring to buying stocks. So for me, if there is nothing that comes out of my mind. Then I guess I just sit back and relax.

But after a while, I know I have to get my butt moving again. So to find some leads… I started to re-visit some of my favorite forex forums. That is one and only way to see what is happening in the forex ea world… and one of the few ways I find inspiration.

Well… rest assured. New inspiration was found and action will follow suit.

However, after some rest, it is always difficult to kick start activities in forex. Since my momentum has kind of slowed down, it takes a lot of effort to once again push my momentum forward.

Oh well… if it got to be done, it has got to be done.

I have kind of delayed my monthly report. This is because I am waiting for my rebate. I want to see how it much rebate I am getting for my last month forex activity to re-validate my rebate strategy.