Lovely Megan

Filed Under (EA System) by Casey on 12-01-2010

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If ever I were to use my analogy on the art of kungfu accurately then I would say this would be the best example that clearly showed what my gambler friend was saying…

Learn, observe and kick the bag… if it failed then I should relearn, observe and kick the bag again with a different style…

I have taken Cyborg EA tested it live, got slapped in the face, took BestSniperForex EA tested it live, got kicked in the nuts, relearned everything about martingale, mutate it a bit and applied it differently from a different perspective and this is what I got… A mutated Cyborg version which I have renamed it Lovely Megan.

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I to the B… to the NFA

Filed Under (Journal) by Casey on 02-12-2009

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I guess the NFA has really gotten to IBFX’s skin…

Last week I got a mail from IBFX saying that they are compiling with NFA’s rulling and will be only offering a maximum leverage of 1:100 come 29 November 2009. My first reaction was ‘$hit!!! Gawd Dang!!’ I was just about to request a change in leverage on my IBFX account and IBFX had to do this $hit to me…

The hedging thing was a minor issue for me. As long as I only trade one side per currency I would be fine…. I wasn’t hedging with my Cyborg on IBFX so it was fine.

However… I am using martingale on this account. And leverage is a key to the success of my many days of backtesting… I wasn’t going to sit on this and not say a word!

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Martingale Mania VIII ~ Cyborg

Filed Under (EA System, Journal) by Casey on 07-09-2009

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Initially I was thinking about posting my August month end performances. But seeing how I screwed up big time with Best Forex Sniper in the first two weeks… I decided to defer this to probably the end of this month.

While Best Forex Sniper slaughtered me… due to my ignorance to using the Martingale strategy… I manage to come off with lessons from these losses. And that losses was translated into my Martingale Mania series.

It’s funny that my most feared strategy became my most intriguing strategy to me. I initially encounter with Martingale on my live account was Cyborg. I knew it was a gamble and I knew it was too good to be true from Cyborg’s page… so with a small account of over $400 bucks… I gamble it on Cyborg…

And I must say by far… this is my best performing EA… mind you I am still using the initial version of Cyborg and the initial settings. Why toyed with it when it is not broken? Ok… I did toy with Cyborg once… A Quick Wank is a NO-NO!

Exciting as it was. That toy was a gamble… after that episode… I just left Cyborg as it is.

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Martingale Mania VI ~ Capital Outlay

Filed Under (EA System, Journal) by Casey on 26-08-2009

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While I continued my back testing on a few more currency pair, I was planning my next course of action to this Martingale strategy. Since I believe I got the currency pair covered… ok… more or less got the currency pair covered, I also needed to address the main issue to continue with this strategy forward.

Capital outlay with the big C

Looking back at the nature of the risk I am willing to take with this strategy… for each currency pair, I need to have at least $10k… risking around 3,500 every time… would equal to 35% of my capital. This would of course be reduced every time I successfully accumulate my profits and grow my capital and continuous maintained my lot size to be at 0.01.

Thus… this is where I am stuck!

I do not have $10k with me at the moment. So what am I going to do? $hit!

However having said that… there is always a way around it. If I were to change $10k into 10k cent… it would make sense to trade 10k sense… going on a 0.01.

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Teaser Thursday

Filed Under (EA System, Journal) by Casey on 06-08-2009

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teaser

Meet Ms Martingale...

Firstly thank you all very much for writing or rather emailing to me personally to try and dig out information about this secret EA that I am currently testing.

But I am not going to tell…. :) In fact, I am going to give you guys a teaser.

How good is this EA? It is gawd dang good. However, it is not without work. I had to practically monitor it every hour… just to be sure that my drawdown level was healthy…

It was so gawd dang good that I was also caught with my pants down… Martingale is again a dangerous strategy and all efforts are or have to be put in place to ensure that I do not mess up…

Martingale is like a hot red sexy woman… They seduce you with wonderful offerings from heaven.

Once you taste the wonderful fruit from heaven, be sure to take good care of them… if not… You either get slapped, back stabbed, whatever it would take to kick you in the nuts… Never mess with a scornful red hot sexy gal…

Ok.. ok.. sorry I digress… (Looking at Megan Fox just……. ) Where was I again? Oh yeah… the teaser… Read the rest of this entry »

Keeping A Secret

Filed Under (EA System, Journal) by Casey on 04-08-2009

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Ok… I have to admit. I lied in my previous post with regards to cooling off and about reseting and rebooting my automatic trading activities. Kinda screwed up what I plan for August…

But there is a reason for it…. Well, last month I kept a secret from you all. I was secretly testing an EA. Have a look at this…

IBFXJuly09aSorry… I did not insert my statement here…

This graph was from my IBFX account which I had set aside for Fedora FX due to hedging issues, I needed to create another account so that it does not messed with my main account which was using Cyborg.

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Much Ado About Nothing

Filed Under (Passing Thoughts) by Casey on 03-08-2009

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It’s already the 3 August 2009. And don’t really know what is happening with this new NFA ruling…

Seems to me it’s nothing more than just silly blah blah here and there. The only thing that was on everyone’s concern was the hedging rule.

Other than that… the limit order or even stop order limit is nothing more than stupid hyped up news. $hit… made me piss my pants for nothing.

Luckily… I was cool enough to wait for the outright news from each broker to come up with their announcment before I took any drastic action.

IBFX apparently was fined $250,000 I think it was for money laundering preventive measures rather than for this new hedging and FIFO ruling…

Whatever it is… IBFX has issued a press release that they comply with FIFO while keeping in tact all MT4 expert adviser’s function.

http://www.ibfx.com/company/newsmedia/pressrelease/2009/09_13.aspx

As for FXDD, I think their application is still under review… so no worries there. All’s well it ends well… I think….

Perfomances As Of End July 09

Filed Under (Performance) by Casey on 03-08-2009

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So… what else can I say… I have still not successfully claimed my place in the automatic forex world. It is sad… really sad. But I can not give up.

After my ranting a few days ago. This is my forex position at the end of July 09

july09

What was filled with hope ended with dismay… Four months of continuous lost. Not good… not good at all…

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Slap Me Silly Please…

Filed Under (Journal) by Casey on 14-07-2009

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As if got slapped by Cyborg once was not good enough… I got another slap my Cyborg again on the next day…

cyborgcan04

I took it both ways… slapped on the way up and then slapped again on the way down…

Man it was really painful… And usually with this sort of pain I start to wonder again about the what if.. If my first trade was maintained… I would not have entered that fu(king second trade..

I re looked at the graph again today… if I had change my settings to take the forth degree… THIS WOULD EPISODE WOULD NOT HAVE BLOODY HAPPENED!!!

Sigh…. I am so sad… So sad that I was stumped and could not even think of any other thing to write about… It took me like 5 days to heal this heartbreak man… *Sniff sniff* and today I had to acknowledge this pain.

One good thing… at the time of this writing… I got back to the winning ways again with Cyborg. So let’s hope that I can recoup these losses by the end of the month.

Here is another reply to NameBlank on my comment section… While I did not increase my trade.. Cyborg actually reduce my trade by half…  I had put the setting Risk to 2.

So I guess this works out just fine. My second slap was not as painful as my first… but it was still a painful slap nevertheless…

NFA ~ Please Let Me Put a Stop…

Filed Under (Journal) by Casey on 10-07-2009

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Man… if that title ever not sound right this would be it… Just two days ago, I wrote about how NFA new regulation is worrying. I got my worries confirmed.

But this piece of news came from Forex.com here. However… Forex.com confirmed that the no stop loss and limit order will not be affected if you are using their own trading platform FOREXTrader, which means that this no stop order and limit order regulation will effect MT4 platform traders…

While means automatic traders on MT4 is literally fu(ked… with a big capital F followed by you.

Funny though… they say the regulations does not all stop loss and limit order to be placed but yet they say they are complying to the regulations…. Does that makes sense to you?

But I am more concern about FXDD and IBFX then Forex.com…

This is what FXDD have to say on their press release

NFA Regulations

New York, (July 07, 2009)

By now you are probably well aware that NFA has made a new rule that prohibits US Forex Dealer Members from carrying customer accounts with opposing positions in the same account past the end of the trading day (“no –hedging”). The rule also requires all positions to be closed in historical order, otherwise known as ‘first in first out’ (FIFO). There has been wide speculation among user groups what these changes may bring, how they are going to affect the Metatrader platform, how automated trading scripts are going to be affected (Expert Advisors) and what retail trading is going to look like in the future.

The ‘No-Hedging’ rule has been in effect for over a month now and as many of you can attest most of the statements of “doom and gloom” have been highly exaggerated. The FIFO rule implementation has been extended once already and there is continuous talks amongst all companies, platform vendors (software companies), and NFA as to what will be permitted and how things should be working out. In the midst of these changes some dealers have decided to use the rule changes as a selling point for their offshore service centers. They try to amplify the uncertainty and to play on the customers’ fears. It is unclear if they are well equipped to maintain a properly operating MT4 platform in these jurisdictions. Most of them have very little history of operating one. It is certain though that it would be costly and inconvenient to close everything and move an account to an untested firm.

In the wake of all this speculation we at FXDD would like to assure you once again that we will do our best to make sure you can continue trading without having to worry about how things may change for you. We are working with the platform vendors, carefully examining all possible options, and working diligently with NFA on the progress of our membership. Our advice is not to make hasty assumptions based on the loose talk from people who spread rumors. If we are to make any further changes to our platforms we will make sure you are informed well in advance and you are given all possible options to consider. We will also try and keep you updated on a regular basis to let you know what our plans are.

I continue to wait and see….