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NMi_Momods Night Scalper

momods

Active member
very poor results at the moment ..
The market was not good for all night scalpers in the past few weeks. Lots of news during pre-Asian session added to the low number of trades as well. This is temporary and the EA will pick-up good trades soon.

I'm working on two other EAs (not night scalpers) that will be added to expert-gate soon. More EA's by other developers will be added as well. You will have a number of EAs at expert-gate to choose from according to your trading taste.

My two EAs are under forward testing and I hope to reveal more information soon.

Regards,
Momods
 

eddie70

Member
well if tweak the settings u still can get some results but we dont need to make fun of ppl shit happens so it is what it is . :)
 
Hi momods,

i am wondering that your new settings gives you only 5-6 trades for one currency pair in a month in the M5 TF.
If i try to do some optimization for the Free Nightscalper i have nearly 10 - 12 trades for every month. Looks like you filtered too much - for me it´s looking now like a curvefitted and over optimized (and too much filtered entry) nightscalper. if you hit one SL in live trading for a pair it needs ~ 2.5 month´s to cover the losses (with fixed lots) more with MM.

Also i not understand this:
"A SL=70 pips was used in the BT due to high spreads in 2010. A lower SL of 50-60 pips will be used in live trading."

If you change settings for live trading, for what you are doing your BTs ? First - i cant see a spread difference of ~ 20 pips from 2010 to now. Second it´s not a written law that these spreads will not come back from time to time, or ?

However, good luck ....
 

Augustine

Member
Banned Users
Hi momods,

i am wondering that your new settings gives you only 5-6 trades for one currency pair in a month in the M5 TF.
If i try to do some optimization for the Free Nightscalper i have nearly 10 - 12 trades for every month. Looks like you filtered too much - for me it´s looking now like a curvefitted and over optimized (and too much filtered entry) nightscalper. if you hit one SL in live trading for a pair it needs ~ 2.5 month´s to cover the losses (with fixed lots) more with MM.

Also i not understand this:
"A SL=70 pips was used in the BT due to high spreads in 2010. A lower SL of 50-60 pips will be used in live trading."

If you change settings for live trading, for what you are doing your BTs ? First - i cant see a spread difference of ~ 20 pips from 2010 to now. Second it´s not a written law that these spreads will not come back from time to time, or ?

However, good luck ....
speaking of BT, i'm equally baffled ..using datas from a broker which had no relevance to the broker intended for live trade? is that the reason why the BTs often looked palatable whilst live trade failed miserably?
 
speaking of BT, i'm equally baffled ..using datas from a broker which had no relevance to the broker intended for live trade? is that the reason why the BTs often looked palatable whilst live trade failed miserably?
if you use only the historical data from mt4 you can throw away you backtests - it´s worthless. and for sure brokers have different data feed´s too.

backtests are just good to see how your EA will work in different market conditions. if you really want to optimize backtests, then first you have to know that the broker u want to use have nearly the same market conditions like dukascopy who will have a good data source. if you had for example 1000 trades before optimize the settings and if you are finished and you will have only 300 trades with same or much better stats then before you will know: it´s curvefitted (and i guess this nightscalper here is a good example).

it´s better you only believe your own backtests .... (most of the EA sellers are not trustable - backtest´s are curvefitted, have only open price / 90% model quality, maybe ultralow fixed spread´s, without comission or however).

and there is the question everybody knows: why you will sell a working expert if the EA is a money printing machine ? ;)
 

itgel

New member
GMT offset

GMT offset

Hello,

I have a question, I need some help please: I read the setup intsruction of Momods_Night_Scalper_V3.02 basic (I use this version) .
'Use_Auto_Time = False and GMT_Offset= the value reported by the EA.'
Yesterday it shown -4, this morning 11. It's a mistake.
My broker is Admiral Markets. In Metatrader I checked the broker's time and the Greenwich Mean Time and these are the same.
So do I have to set the GMT_Offset=0?
Second experience: this ea works well only on ECD account, but it's not a problem.
On EURUSD M30 pairs this ea does not trade in forward test, only in backtest. Wich settings do I have to check and modify in source code to correct thist mistake?
Last month I set GMT_Offset=1, and the ea opened trades bettween 21-24.
The setup instruction wrote: '- I don't recommend trading outside default trading hours (20-23 GMT). You might get good results for a short while, but it's not good in the long term.' Do I made a mistake and I have to set GMT_Offset to 0?
Sorry for my bad english
Regards
Itgel
 

rickyv101

Member
If you want to waste time on older bugged version, It is fine.
This project go much farther on both freeware and NMI IB version and both will take care of Auto GMT.
For improved better version
you should look at this

Results in Demo account.


You should look for NMI IB version in this forum
Results with real money here;


Anyway, I was testing both of them for few months with real money, backtests are very profitable but real world is not, I do not have good results, I quite using them.
 

flaxx

Member
Since Momods became greedy, going to NMI instead of asking some donations, or doing a private club with 50-100 members, EA failed. Life is good!
 

braddock

Member
Momods it would ne nice to read or to hear something from you and what bring the future? This way what you are doing now was wrong… make it like before without ib and shure a lot of people will pay donate… pleas tell us what is your way in the future. You are a great programmer and we like your developments. But please go the old way.
 

braddock

Member
Momods it would ne nice to read or to hear something from you and what bring the future? This way what you are doing now was wrong… make it like before without ib and shure a lot of people will pay donate… pleas tell us what is your way in the future. You are a great programmer and we like your developments. But please go the old way.
no more answer :)
Momods you stay alive?
 

eddie70

Member
They have released 3 new EAs i have 2 but anyone can crack this u can only get it if u have live account let me know i will post them so we can see what it is they say its promising & good .
 

Raffinoso

Member
Hi Eddie

it seems one of them works fine




They have released 3 new EAs i have 2 but anyone can crack this u can only get it if u have live account let me know i will post them so we can see what it is they say its promising & good .
 

1990

New member
no more answer :)
Momods you stay alive?
Hi Braddock,

I dont often read forum threads but I happened to read yours.

Regarding MO's absence, I can let you know he has personal issues going on with a close family member, quite serious health issues, hospitalization and the like, so we havent seen him much of late. I think he's doing bedside duties so our best collective wishes go out to him. MO will be back though.

Regarding your comment that MO should do it "the old way" and that you're sure that lots of people would donate, I assume for recognition of or in exhange for his efforts ?

The truth is, of the hundreds that were using his EA here at WWI, very few donated. There would be folks flashing the gains on their 10k account, and not a cent to MO. I think there was $164 of donations over 12 month from about 12 people and of the mutliple offers MO received from marketers for his EA, from which he'd likely have done better than with the NMi model, he chose the NMI offer so that the EA could continue to be supplied for free.

So, in actual fact you're assertion is not a true reflection of the reality Braddock, "lots" of people wont donate, they dont donate and they didnt donate, only a very small percentage did. I can only assume in absence of evidence to suggest otherwise that such folks just expect MO to keep giving his work away for free and provide endless hrs of support for nothing they are prepared to pay, or feel tha they have "paid" by posting some trades, or a backtest and therefore having contrinuted to the development of the EA ? So, I ask you the question - are you one of these people or do you really support MO ?

If you're dinkum about supporting MO, use his EA, 75% of the revenues will go directly to him for any trader he's referred to the gateway via his link. NMi see's only 25% for providing user end support and securitization of his EA, plus development resources and NMi is a company with 4 main partners, we dont make much out of it. The only commission received is out of the std volume commiss brokers charge, so it costs no one anything except the brokers - unless you think it "costs" you because you're not getting rebates - but you have to differentiate between the 2 ;

1) Rebate IB's are giving you nothing except 75% of their rebate. NMi could do that and not develop and support EA's. In fact its crossed my mind to do just that as well but offer 100% of our rebate instead so we can put rebate IB's out of business and have traders paying what they really should be paying in the first place - just dont expect EA's, development and support as well ! It would be as simple for NMi as posting a link under which you signup and get the deal.
2) NMI IB 2 is giving you EA's, that are supported and prfessionally developed. NMI chooses do this instead of just sending out a rebate link and picking up 25% for doing basically nothing.

Rebate IB's will very rarely, if ever supply an EA and support you trading it and its further development. They are a big part the reason you pay $7 in the first place and get $2 back, instead of just paying $5.

Really though unless performance of MO's EA improves, its a bit of a moot point for now. Typically this time of year isnt the best, but the good news the first half of the year usually is.

You'll see over time that NMi will continue to expand its range of EA's and developers for the benfits of its clients and our focus is on long term profitable systems, not short term results used to market and sell EA's systems as is often the case in FX.

NMi really are the good guys, we are traders looking to make pips just like you are and we are building a team of developers and mutliple systems to that end. Its most of the brokers and LP's paying rebates that are playing games and stealing from clients, literally, they deliberately use software to systematically rob traders. Its "us" and against "them". If you were part of the inner circle of NMI you'd be privvy to more precise details about it, and if you'd like to become a part of that inner circle, you can. I can just about guarantee you that besides considerably increasing your chances of becoming profitable in FX, your view of of both FX and NMI will very probably completely change - your call.

Best wishes to traders here, may the pips flow your way regardless of what system you trade. Merry christams and new year.

Cheers, Adam :)
 

moidart

New member
Momods night scalper

Momods night scalper

Hi Braddock,


The truth is, of the hundreds that were using his EA here at WWI, very few donated. There would be folks flashing the gains on their 10k account, and not a cent to MO. I think there was $164 of donations over 12 month from about 12 people and of the mutliple offers MO received from marketers for his EA, from which he'd likely have done better than with the NMi model, he chose the NMI offer so that the EA could continue to be supplied for free.
I find this difficult to believe. I personally donated $100 to Momods and received neither acknowlegement or thanks. This certainly made me disinclined to make further donations.

Merry Xmas all
 
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