Max Spread & Trade Session / Demo

[forex@paladin-consultants.com]

Hello Support Team,


I've just downloaded your EA and have attached it to four charts, letting it run until today's market close, just to get a first impression before starting a proper test on Monday.

I have two questions at this time:

1.) I've set Max Spread to 2.0 for all four currency pairs, but EURUSD, GBPUSD, and EURGBP display 3.0; only XAUUSD appears to be set to 2.0. Is there a minimum setting of 3.0 for Max Spread with some pairs?
2.) What is the function of the last line ('Trade Session') of the indicator? It shows '(Closed)' on all four charts, and the EA hasn't opened any trades in the two hours I've had it running now.
I've set Start and End Times correctly; Volatility Filter, Trend Filter, and Avoid News are all = false.
By default, EAs are enabled in my MT4 Options, Live Trading and DLL Imports are allowed by default, too.

I'm wondering whether it's normal for the EA not to take any trades on four pairs in more than two hours or whether there is something wrong with my settings.


Thanks,
Paladin

[Support_AdrianS]

Dear Paladin,

1. When UsePairDefaults is set to "true", TakeProfit, and MaxSpread are automatically set by default with our optimized settings (they don't need to be adjusted anymore). UsePairDefaults works only with the recommended pairs. When UsePairDefaults is set to "false", TakeProfit, and MaxSpread have to be manually set.
For other pairs than the recommended ones, UsePairDefaults have no influence no matter if is set to "true" or "false".

2. The Trade Session opens only if the trading time is true (local broker trading time is between 21:00 and 21:59 GMT) and if there is no high impact news (in case this option - AvoidNews - is set on true). "Trade Session" is indicating if the robot is accessing the market or not.

3. There is nothing wrong with the settings. The robot makes an average of 4 trades per day (with all 9 recommended currencies, not 4 trades for each currency per day).
Here are more details from our oldest real account (almost two years old):
Average win = 5.04 pips
Average loss is 7.31 pips
Trades: 2087
Pips: 3368.0
Longs Won: (725/1016) 71%
Shorts Won: (783/1071) 73%
Best Trade (Pips): (Mar 16) 39.4
Worst Trade (Pips): (Jul 13) -115.0
Avg. Trade Length: 1h 18m
Profit Factor: 1.27
Risk / Reward is 1.4 - 1.6
Link: Real Account Statement 4 - from our homepage.

Thank you for your interest.

Kind regards,
Adrian.
ForexRealProfitEA Team

[ForexRealProfitEA]

To better understand how ForexRealProfitEA works, please read the user manual inside the zip archive. You will find there all lots of interesting stuff.

Regards,
ForexRealProfitEA Team.

[forex@paladin-consultants.com]

I've read the manual again.
When I'd read it for the first time, I missed the fact that 'UsePairDefaults=true' also overrides 'Set_MaxSpread', not only 'Set_TakeProfit'.
I've set 'UsePairDefaults=false' now, since I prefer to define spread, slippage, s/l and t/p by myself.

The enabling or disabling of 'UsePairDefaults' makes the EA quite flexible, which is nice.
The same goes for the combination of 'AFMP', 'MoneyManagement', and 'MM_Option', which allows the user multiple ways to determine position size and risk parameters.
Personally, I prefer 'MM_Option=2', because calculating from Equity instead of from Balance takes positions opened on different pairs into consideration.

The EA has opened the first three trades a few minutes ago, and I'm looking forward to assessing its performance.

[Support_AdrianS]

Dear Paladin,

Please use the correct time frame for trading (only from 21 to 22 GMT).

Any other time frame will be a waste of time and money and will lead you to wrong conclusions.

Our future updates will trade all day long for some currency pairs, but not this version of the robot.

Kind regards,
Adrian.

[forex@paladin-consultants.com]

[quote="Support_AdrianS"]Our future updates will trade all day long for some currency pairs, but not this version of the robot.[/quote]

That sounds very nice, since an hour a day seems to be a very short period.
How soon may we expect this update?

P.

[Support_AdrianS]

Dear Paladin,

Yes, an hour a day is a very short period for trading.
But we are here to win money not to trade a lot, so even if the trades are few, the profit is good

The strategy update should be finished by the end of the next month.
We have to finish all the testing before and that takes a little time.
We release updated versions of the robot only after we test them on our demo and real accounts first.

Kind regards,
Adrian.

[forex@paladin-consultants.com]

Thanks for the reply, Adrian.

Cool, so the one after the next demo download (not March 12, but the next one) will contain the new version ... nice.

[oliverjames]

HI,

I am getting the trade session closed message on all charts. GMT syncing is set up correctly. The time is currently between 2100 and 2159. I have the news filter set to false.

Am I missing something?

[support_CataH]

Hi Oliver,

No, you are not missing anything. Yesterday, February the 20th 2011, was a bank holiday in the US so ForexRealProfitEA had a no trading day. That's why you had trade session closed. Today between 21 and 22 GMT trade session sould be open if all is correct in your MT4.

Regards,
Catalin
ForexRealProfitEA Team.