Discussion in 'Forex' started by virtualmoney, Apr 21, 2009.
Please share your analysis about this statement...
Very impressive but probably unsustainable, it might be a good idea to draw out some of those gains
Is it your account? Automated strategy (EA)?
Wow, thats awesome! It's definitely an EA
Does that website list demo accounts, or only live accounts? It's probably a demo account....would love to see if the EA performs the same on a live account.
amazing what you can do on paper only, when there is no slippage, taxes or commissions, and you can ignore system statistics and extreme drawdowns, and if you bomb start over and over again...
In other words, this is not exactly impressive deprived of everything
Well I'm sure we'd all love to see what you can do, in fact I don't think you've ever made a trade call or posted a trading blotter! It's amazing what you can do when you're just a spectator
I was a bit bored so I checked the log and TOS...
It's a mean reversion using Magic Orders (using Limit Orders without considering FIFO and liquidity in backtests). Most likely a 1 min. Data compression, considering the range of the between buy/sell price. Considering the way the orders are sent, the system has a set "over-extension" price and places sends an order everytime it crosses over.
Considering the way it's handling the orders, it won't scale under real world conditions. Seems like... FIFO will make it somewhat breakeven. Cost of trading making it net negative.
No point of trying to reverse engineer the thing, further...
Hmmm, I didn't think MT4 MM's offered a 3k demo.....
3k into 33k in 30 days sure seems impressive to me!
Who knows, maybe MT4 has a faster fill than Currenex and the datafeed from Bloom is messed up. Though, I never heard of MT4 related feeds having some edge over others...
I Googled "Metatrader Demo Account Size"... and it seems like Alpari and Nordic allows you to set the deposit amount.
Anyways.... try E-mailing the guy, he might sell the system to you.
I'm a born skeptic but it's hard to argue with real-time results. Are those kind of returns sustainable, I don't know. Is it scalable, I don't know but does it need to be, there are dozens of MT4 brokers. Do MT4 brokers fill faster than Currenex, quite possibly, they're all bucketshops. Is the EA for sale, I don't know but if the deal is reasonable it might be worth considering. Why would the author sell it....now that's the question!
Can this system be applied to indices futures where bid/ask spread is less of an issue than forex?
It's an MT4 EA but is there a stable software/technology to bridge MT4 to IB that someone is already using it live?
In particular, MT4 -> IB for indices futures?
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