Forexhacked for AUDUSD

nico1969

Member
I'm in demo with it on M15

I'm in demo with it on M15

But I don't have the settings in hand (I'm at work). Will post tonight.
 

nico1969

Member
My mistake

My mistake

My settings are for USDCAD. But it's on a version of forexhacked I modified (slightly though) so it might work with the original version.
But I agree with the previous statement, FH is very dangerous and will blow your account.
 

Mister

New member
Using very conservative setting on five pairs in a 5k account using ForexHacked. Up $2,200 in equity and
-$350.00 floating, that is for this week only.
It's not a get rich quick journey..and definitely abandon the "set and forget" philosophy.
Slow, humble, and abolish the greed.
 

grood

Member
My settings are for USDCAD. But it's on a version of forexhacked I modified (slightly though) so it might work with the original version.
But I agree with the previous statement, FH is very dangerous and will blow your account.

I saw you introduced a new parameter, levelToBEPlusTakeProfit=9

Would you be so kind to share your modified version? Thanks!
 

nico1969

Member
Here it is

Here it is

I was developping an EA with the same idea, i.e. take longs and shorts without waiting for the previous trade to be closed. I found the educated version of FH, I corrected a few bugs in it and tried to improve it.
Here is were I stand so far.

If you have any further idea for improvement let me know. For instance I'm not quite satisfied with the entry signals. I'd like to get one that provides better likelyhood of not getting caught in a trend reversal. Any idea?
 

Attachments

  • NB-ForexHacked23_v1.2.mq4
    40.8 KB · Views: 0

grood

Member
Well worst drawdowns I have seen happend through news releases.. attaching a version with newsfilter.
How to properly identify a trend without retraces is quite a challenge, probably some MA filter or similar might help - similar to Indorun. Not sure about that.
 

Attachments

  • FX Hacked23 Rusmq_News.mq4
    21.2 KB · Views: 0

agrajag

Member
I've been running FH2.3 on GBPUSD for the past 4 weeks and I'm up almost $600, although there have been some sizeable drawdowns.

I actually plugged some numbers into an excel spreadsheet and tried a few scenarios based on playing with some of the bot parameters. It's important to watch the average daily range on your currency pair and adjust your settings so that if you get caught in a trend that your drawdown doesn't blow you out.

Keep your lot size at 0.01 and make small modifications to your pipstarter, take profit, and pip multiplier as your account grows.
 

barend15

Member
I have downloaded this EA from the Forex Hacked version 2.3 thread and have used it on a demo account with $5000 starting capital and 1:400 gearing. I have loaded the templates that came with the EA for CHF and GBP. I kept it running during news and didn't close open positions before the weekend. The only time it was not activated was for 2 days.

On Monday 31 Jan the equity was showing +/- $ 8500. The next day the whole account was blown. Nothing left!

This EA does not like a trending market. Oh and it gave me excellent signals if I took the trade in the opposite direction.
 

nico1969

Member
I agree this EA is dangerous

I agree this EA is dangerous

Just like any martingale, but on top of that this one has a very simple entry logic. It's based on a comparison of PSAR with a price average. PSAR is very delay indicator, it's OK for Stop loss but very delayed for an entry signal.
Overall, the entry logic is just as good as random. Because for small timeframes the entry is delayed and the trend might just reverse at the time you enter. For long timeframe, you may have a chance to continue with a building trend. So I would not recommend using this EA anything lower than H1.
But on the other hand it has interesting features such as individual stop loss, management of TP and SL and not hidden values. In that way if you're VPS fails down, you're not left on your own.
I think this EA needs a smarter entry logic. I think that if we could change the entry logic with one from a scalper or a short term EA, that would be great. Tehn the martingale would be used in exceptional cases to try to improve the success rate. After that the EA has enough security build in to not let the trade empty an account. The problem is that the security is not set by default.
You want to limit the size of account not to 100% but possibly 10% and with a good entry point that should make it.
 

agrajag

Member
I'm ashamed to admit this, but FH blew away my live account yesterday. After one month of nice gains, I was starting to feel confident in my ability to monitor this bot, even though I knew the risks inherent in martingale strategies.

I woke up this morning to discover the last of my account completely gone. Needless to say I'm in a bit of shock, as my trading world has turned completely upside down in the last 24 hours.

Anyone reading this who's contemplating using FH or any other martingale-based strategy, please please find another bot that employs stop losses!
 

barend15

Member
I'm ashamed to admit this, but FH blew away my live account yesterday. After one month of nice gains, I was starting to feel confident in my ability to monitor this bot, even though I knew the risks inherent in martingale strategies.

I woke up this morning to discover the last of my account completely gone. Needless to say I'm in a bit of shock, as my trading world has turned completely upside down in the last 24 hours.

Anyone reading this who's contemplating using FH or any other martingale-based strategy, please please find another bot that employs stop losses!

There is no shame in admitting this. You may have stopped somebody else to use FH.
 

liloufx

New member
After all the tests I made with martingale

After all the tests I made with martingale

such as Blessing or FH you either have to have a big account to absorb the drow downs and then the performance is quite low but at least steady. Still you have the risk that a major trend blows the account.
I'm running FH on 2 currencies on a demo account with 300000 USD and 0.1 starting lot just to see whether it' going to drain it.
As for FH you have 2 level of security to prevent your account to be drained:
iStopLoss to prevent any individual trade to go lower then a certain number of pips. This one will close the oldest trade but the basket will still go on. But the ultimate security is the StopLossPct which will close a basket if the drow down goes lower then a percentage of the account (the calculation is based on balance-equity so beware if you have several EAs on the same account).
Unfortunately, this EA has an average drow down so high that setting a limit to the drow down ends up by eating up all benefit and more.
Again, I think that if this EA had a better entry, with a better success rate and lower average drow down, with the control of the basket drow down, the risk inherent to martingale would be under control and could increase the success rate of the strategy.


Any comment of more experienced person would be appreciate to see whether it has been already tested and whether it's worth to spend time on it.
 
There is a set limit to the losses which is very useful, rather lost that money than to be victim of a changing trend, overall forexhacked is quite profitable, just that change of trend may blow it up.
 

rmitsos

Member
For those who blew their accounts using Fhacked it'd be nice to provide their settings so as to avoid using the same. My settings are the following:

TakeProfit=35
Booster=1.65
PipStarter=21

and I'm pretty happy. I blew my account only once because I was using 0.05 lots (such an idiot) so now I'm using only 0.01.

You can also limit the maxbuy - maxsell orders to prevent going very deep (or with huge lots).

My favorite pairs : GBPUSD, AUDUSD. For AU i was little sceptic because this pair is a f @ cking elevator.... but so far it is going great.

You must get used of large DDs and monitor very closed all your martins !!!! No pain no gain...
 

kookoo23

Member
I read somewhere that the best thing would be to remove the profit once the account doubles.

FXhacked vs InvestEA its showing a possible 1211.3% in a month!!

You must be registered for see images


I think next week the demo will get wiped out, lets see - but its nearly double!

 

rmitsos

Member
Kookoo

Do u mind sharing your settings and initial margin? I will post my results as well next week ... if still alive ... :)
 

kookoo23

Member
Kookoo

Do u mind sharing your settings and initial margin? I will post my results as well next week ... if still alive ... :)

0.01 lots
35 takeprofit
21 pipstarter
1.7 booster
max buys =12
max sells =12
allow stop loss =false
start hour =0
stop hour =0
start trading day =0
end trading day =7
stoplosspct =100
takeprofitpct =100
support ecn =false (not an ECN account)
masshedge =false
Everything else is default.

GBP USD 1m . demo 1000 start 500:1 Margin. Remember that this is FXHacked vs Invest EA and the other EA is responsible for some of the gains.
 

TNfx

New member
I was developping an EA with the same idea, i.e. take longs and shorts without waiting for the previous trade to be closed. I found the educated version of FH, I corrected a few bugs in it and tried to improve it.
Here is were I stand so far.

If you have any further idea for improvement let me know. For instance I'm not quite satisfied with the entry signals. I'd like to get one that provides better likelyhood of not getting caught in a trend reversal. Any idea?

nico1969 any improvements on your entry signal? What settings are you using?
 

Fmfx

Member
With this settings you are asured low drawdown and at least $600 every month, even the huge fall from gu could not kill my $1000 acc, use these settings on 1H time frame. Witdrawl your profit every month

>Forex hacked safe settings

lots-0.01

take Profit-110.0

booster-1.6

pip Starter-70

max buy orders-9

max sell orders-9

allowistoploss-false

istoploss-300

start hour-0

start minutes-0

stop hour-23

stop minutes-55

starting trade day-0

end trade day-7

slippage-3

allow trending-true

trend trigger-3

trend pips-5

trend stop loss-5

stoploss pct-100.0

take profit pct-110.0

pause news trades-false

stoped out pause-300

support ecn- (you decide)

mass hedge-false

mass hedge booster-1.01

trades deep-5

EA name- (change it so broker wount hurt ur trades)

Happy trading
 
0.01 lots
35 takeprofit
21 pipstarter
1.7 booster
max buys =12
max sells =12
allow stop loss =false
start hour =0
stop hour =0
start trading day =0
end trading day =7
stoplosspct =100
takeprofitpct =100
support ecn =false (not an ECN account)
masshedge =false
Everything else is default.

GBP USD 1m . demo 1000 start 500:1 Margin. Remember that this is FXHacked vs Invest EA and the other EA is responsible for some of the gains.


Can you please post your other EA and its settings.. I can see you are trading many other pairs,....all of them are with your other EA?
 

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