GPS Forex Robot Reversal Trade Explained (And How To Reduce Risk)
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- Опубликовано: 23 сен 2020
- This is a short update on some recent trading activity on the GPS Forex Robot.
There is a reversal feature in the settings that can place large trades occassionally and in this video I explain how it work and how to adjust the settings if people want smaller trade sizes.
Links;
www.myfxbook.com/members/Trade...
www.myfxbook.com/members/Trad... 
Хобби
Here are the Myfxbook links I talk about in the video:
Demo account www.myfxbook.com/members/TradeWise1/trade-wise-gps-ea/6186094
Live Account www.myfxbook.com/members/TradeWise1/gps-forex-robot-live-wfxprimus/6944271
Why you had a bad result in your live account using GPS?Im about to get the robot using your link but then I saw this.
Perfect Jonathan !!!! I will continue using this fantastic robot decreasing the risk to 10 per cent and keeping the reversal trade . It was great . In my account ( instead of worries) the reversal trade had success . 😅
thanks, Joao. Happy trading :)
If it helps people with settings, I had it running on a $5,000 demo account with lots risk reductor at 10. No margin call. The loss was $473 and the reversal gain was $418. It made my eyes water when I checked the bot and the reversal trade was offside too, and I was glad it was on demo! It would be a lot easier to find my desired settings if GPS allowed backtesting. I find this a bit of a pain. Although I will forward test on demo, I'd like to forward test something close to what I would put live. Thanks for the update and info though Jon.
Thanks for sharing, John. I don't understand why there is no backtesting either tbh. Backtesting is notoriously unreliable but can still be helpful.
💯
I was very happy with the reverse trade with the GPS EA . I have $5000 in a live account. On the 23rd I had a loss of $398 which I was a little disappointed, but I knew of the risks with trading Forex. I was so happy with the reverse trade as this gave me a profit of $1126.00 woohoo. This is a great EA and I am a happy trader.
That's great news! The more I think about the reversal trade the more I think it's essential to the bots success so I may reduce trade size in my live account to allow for the reversal to work next time.
@Fit N Fab Fitness May I know which broker are you using ?
Thanks Jonathan great video and update 👍
my pleasure, Nelson
Im running same settings on demo account. Had that same buy/sell reversal at same point in time as you did.....interesting. Nice how it gets itself out of these situations.
yes the reversal trade worked well yet again. It does create high drawdown compared to the normal trading but has worked well so far.
Hi Johnathan, in my opinion i don't think setting the LotRiskReductor at 20 and disabling the "Reverse Trade" feature will ever work well. What will always happen is that the GPS robot will trade profitably for few weeks/months, but will lose all or most of the profits made with one bad trade. This will keep happening over and over again. I think the best thing to do is to reduce the LotRiskReductor to 10 (or maximum 12 for slightly better returns than standard) and leaving the "Reverse Trade" feature on. This will ensure there wont be any problems with "not enough equity in the account" so GPS will always be able to place a Reverse Trade, and the years of Reverse Trading records show that almost 100% of the time the Reverse Trade makes up all or most of the loss, and alot of times it even makes more than the "losing trade"
Yes after further consideration I think you're right. The reversal has worked great every time on the demo account so I need to learn from that and just not take too much risk on each trade so the reversal can "do it's thing"
Hi there, as a relatively new user of the Robot Ive been wondering about the reversal trade and how accurate it is. Zoom Zoom, can you advise on your source when you say "the years of Reverse Trading records show that 100% of the time the RT makes up for the loss"? We know that the win rate of the bot is 90-95%, but is that also the win rate of the reverse trade? If the win rate of the bot is 95% and the win rate of the reversal trade is 95%, does that not mean that statistically every 400 trades, you could expect a failure of the reversal trade which will effectively kill your account?
@@desicollector Hi zoom zoom i have replied as a new comment, as did some analysis which i think others might find useful...
Great update video thank you
My pleasure
Hi Trade Wise, after finding GPS Robot on myfxbook and doing some research I found your channel. Great stuff! I just wanted to ask if you are still using GPS and if so could you do an updated video on the bot to better educate newbies with your extensive experience with the EA. This sounds like a much more sophisticated EA than what I am using so to see 2 years of experience and results would be amazing!
All the best, thanks!
Hi Johnnathan, you think that broker with 1:500 leverage can make it work with 20:0 Lot RIsk Reductor and “True“ Reverse trade feature? What is your opinion? 10.0 or 20.0?
I noticed that you use 1:100 leverageon your live account dislayed on myfxbook.com. Isn´t it the reason why it did not open a reversal trade on the big EURUSD loss? Why you dont have 1:500 leverage as I do if I am with FXPRIMUS as well so the reversal trade can work easily?
I'm still trying to determine the best leverage based on this recent trading activity. I agree with you higher leverage might well be a better solution, it just seems counterintuitive to do so that's why i'm taking my time on it.
@@TradeWise1 ok thanks, I am currently testing 20.0 with reversal on True with 1:500 Fxprimus, will let you know how it goes. Also have you considered opening a Telegram/Discord group where every GPS trader can share their settings, myfxbook and experience?
Hi Jon,
What about the "UseTrailingStop" setting within GPS Forex Robot?
If this setting is set to true, wouldn't it stop at a lost that is somewhat reasonable? Instead of, like in your example, lost half your account and then don't have enough margin to make the reversal trade?
I think the trailing stop only activates when the trades are in profit. Not 100% on that but certainly on losing trades the stop doesn't seem to do anything
thanks buddy... video much appreciated..
my pleasure, Shastri
Thanks for the video Johnatan. I was wondering if you or anyone else could manage to run a backtest on MT4? There are few inputs only, however it is always good to see EA behavior under different market conditions. I had purchased it but unfortunately can’t run a back testing due to some unknown reason.
No, unfortunately the GPS guys have disabled the ability to backtest.
That’s really sad. Hopefully they don’t have anything to hide. Myfxbook is great proof regarding long term profitability, however situations like in your video could happen to anyone due to the luck of inputs testing.
Yes as John says, backtesting is disabled on the bot and I don't understand why.
Hi Johnathan, what is the minimum fund do you suggest for this bot to have a reasonable profit?
It's hard to say exactly what deposit is best. You should only trade with funds you can afford to lose, and then you can set it either quite aggressively on trade size for higher returns (but more risk) or use low risk settings for smaller returns.
Great video!
I've installed the GPS based on your recommendation. It's been 3 days and it's only placed 1 trade. Let's see
keep an eye on my myfxbook to make sure you get the same trades as me and if so then you can leave it to do it's thing
Hello, at about 13:20 when you say your reversal trade did not trigger, this is because the trade SL was not reached. The bot trades with a large SL...this is why many people do not see reversal trade activated, as their SL is not reached.
Interesting that all 4 currency pairs trade at about the same time - round the opening of Tokyo markets.
normally when a trade closes in a loss the reversal is automatically triggered
Is it possible to do backtesting for this bot to find the optimised set to trade?...
I don't think so
Dear Jonathan, since setting up my GPS forex robot account with approximately 750 euro account it has traded profitably but with trades of just 1-2 euros profit and a trade size of 0.10. On your demo account above the trade sizes all vary between 3 and 4, what settings are you using. Incidentally my robot did do the loosing trade of 64 euros when yours did, but reversed it and made 91 euros! Also my account history does not show the same columns as yours, how do I add the additional comments. Cheers.
i'm not sure why your trade size is so small, but in the GPs setup pdf they suggest using lot size rather than lotriskreductor so maybe check that out and follow their instructions on doing this. To get more columns in mt4 right click in the data area and you should get more options
Hey buddy. Am I able to use GPS for prop firm trading? And what's the best setting for it? Eg. for max daily dd of 5% and max dd of 10% as these are common figures for all prop firms.
my max DD is 60% so I doubt it
Hey I got your subscription done and have top 2 auto trades 1. mydigitrade and 2. GPS Robot but I couldn't get your 3rd Autotrade option?
this is one that's worth checking out - tradewise.community/yieldnodes-review-2020-is-this-platform-legit-or-a-scam/
Hello Sir
Question for you on the GPS robot. Are you able to change your trading account number? for instance if I change brokers will I still be able to use it.
Yes of course. You can move it around as much as you want to
@@TradeWise1 I thought the EA was locked to one account number? Do you contact GPS Forex and they change it for you, or are you able to change it yourself? Also can it be ran on as many demo accounts as you want? Thanks!
Great bot i made 715 usd last week with GSP bot and 696 usd with Fapturbo3 EA bot ! thx!
I'm glad you're making nice profits from GPS. It's funny how you're making profits with fapturbo too, after I was talking about it with the owner in the Yieldnodes video just recently!
Does it trade only EUR/USD like on your Myfxbook samples?
Yes. You can set up other pairs too, but eru/usd is by far the most active pair
Man I saw that your GPS EA made a trade on the 1st of October and mine not, is that possible or where do you think is the mistake?
probably an error on your bot or broker. Check for error message on EXPERTS tab at bottom of mt4
@@TradeWise1 thanks, but I checked your myfxbook connected with real account and it did not executed the trade as well, it had only on your demo which is also connected on Myfxbook. Have a look. Curious about your opinion.
@@TradeWise1 I think the spread might be the reason, since on EU is max allowed spread 15 points and during London and NY session the spread is often 14-15 points so it can easily get over the 15 points during Asia sessions when most trades are executed. Have you thought about that?
May I have a link to Yield Modes? Thanks.
Aure Earl - yieldnodes.com?a=xJRZbQpvOXPGnzm
Hi Jon! I just visited your myfxbook real account (which was updated just an hour ago) only to see that you've had a consistent loss since September and now the gain is at minus 12%... is the bot not working? I was just about to buy GPS but this discouraged me, can you please tell us what happened? Thank you so much!
I stopped using that account a few months ago for the reason I discuss in the video, but it runs great on fxchoice. I'll get that live account onto myfxbook shortly too so you can see the full picture.
where is the link to the robot records? i cant use it without downloading it and also can`t find it on the tradewise website...
when you buy it you'll be emailed access to the members area
Please any update for the EA review 2022
my blog review is kept up to date
Can you update us if the LRR at 20 was better than 10? Thanks so much for making those videos! I am so grateful and thankful for your wisedom and help
LRR at 10 is definitely much safer, but 20 provides higher returns so it's down to the indlividual how they would prefer the bot
Hello, please are you able to help me. I have the GPS and FX Choice and I am making trades but only one pair. Please are you able to give any advice.
Thanks
My bot trades mostly EURUSD too and it's most stable way. Forcing it to trade more pairs will significantly increase your risk of ruin.
@@TradeWise1 hi, thank you. Just wondering why all 4 are running but only one pair trading.
Thanks
What is yelds notes?...you keep saying you invest in it
check out my channel, it's called Yieldnodes
Hi man, I purchased GPS forex robot thru your link and I have a question sir. If I already linked the robot to one real account and then decided that I wanted to change brokers and I will delete the robot from the first broker would I be able to install it on a second real account if I uninstall it from the first one?
Yes, you can easily switch brokers even on a live account BUT you need to change the account number on the GPS forex robot website so they know where your license is being used
@@TradeWise1 thank you so much, looking forward to your next review!
So I was very pleased with the GPS for a couple of months but picked the wrong week to add more money to my account. I no longer have this account as the GPS has killed it in two trades. Absolutely outrageous that it would go from trading around 3 lots and 19 in the next with no stop loss. This bot is literally revenge trading which is always ill advised after a big loss. Would be better to take a few days off if it had any sense.
I'm done with bots and carrying on with manual trading. I thought it might be nice to have something that earned whilst I slept to complement manual trading but gotta get burned sometimes to learn the lessons.
Are you using fast settings or something (AA set to false)? Please can you email me the 2 trades it took that blew your account? I'm not sure how that could happen when it should have either had a reversal trade that got your to about breakeven or taken 1 loss for a portion of the account.
@@TradeWise1 AA is set to True, have emailed you Jon
@@gezmonder Hello!, sorry to hear that!!. Please can u share your myfxbook an dsettings??? that´s very important and I don´t know is about brokers and/or settings Thanks
Is there a features to skip trade on news day or certain day of the week?
Just to add the GPS settings if you switch the UseMM to false then the robot won't take reversal trade. I have tested this many times. But way to reduce is to reduce the lot reductor. Instead of 10 maybe 5. Thanks
Thanks for sharing your input, Atif. I'll test this and see how it compares to using lotriskreductor.
I have it running on a £1K real account and it very nearly had a margin call on the reverse trade. Fortunately for me it scraped through and ended up with only a minor loss (around £15). I was running the LotRiskReductor at 20 as well. Going forward I'll probably reduce the reverse size to around 3. Also I've changed the Trailing Stop to 12 and it seems to work better when it does go into profit.
It is a shame that back testing has been disabled in the latest version as I wanted to explore the different settings to see the effect. I did email and ask about this. They said that only forward testing was relevant so it was disabled. I don't really agree but hey-ho...
What does the number for the trailing stop indicate? Percentage of account size?
Same as mine, £1k real account about a 2 weeks running now, came up with very low profit £8.65 from that aggressive battle yesterday - was losing £75 so. But I haven't changed my setting thou - Lots: 0.01 LotsRiskReducter: 10.0, GMT Offset: 1, Slippage: 2, RevAftertSL_Multiplier: 5.9, Trailing Distance: 6.0, Trailing Step: 1.0 - so far so good - hence no great profit yet.
Rather than reducing the reversal size you could reduce lotriskreductor to lower risk overall, but it seems as though everyone is doing something slightly different, so it'll be interesting to see if a clear winner emerges over time.
@@samtan5274 it's the number of pips
@@TradeWise1 as per the manual LotsRiskReductor will be used when MM
setting is set to True, therefore as per my understanding, it shouldn't do anything in this case. For me personally, RevafterSL multiplier needs to be reduced in order to avoid massive losses.
it looks like you have stopped trading the real money account?
Was this because of the reverse trading failing?
I still have a live account I just moved it back to fxchoice
@@TradeWise1 thanks for the reply
Hi question am in America how. Can I use this any suggestion
You just need to find a forex broker that accepts US residents
Hi Jonathan. That trade yesterday made me stop investing in forex. I thought I had my mind set that I was willing to lose the money that I put in. I knew forex was risky, just didn't expect it to hit the fan the quick. I will invest in yeildnodes though. It seems more "stable", and I use that term loosely.
Also, have you taken a look at deeptradebot? I have been using it for around a month now, and they are paying out. I have been using it with a side of caution though. As they don't even offer a service to export reports of transactions. I have the ability to see some of the transactions being made, but not all of it. Their support team says they are working on exporting a report function. Butttt.... I try to take it with a grain of salt.
I think people often forget just how brutal the forex market can be. This is one of the best bots out there and yet trading losses are still abaolsutely possible. The fact that Yieldnodes doesn't take any trading risk to generate returns make it much more steady as you say but of course there is still an element of risk as with any investing.
I've not heard of deeptrafebot by the way
@@TradeWise1 Definitely a learning experience. Still new to investing. Definitely a expect and prepare for the worst and hope for the best type of thing
Hi Jon and all. Great conversation building here with some very constructive ideas. Just a thought, and it's only a guess, maybe the GPS guys deactivated backtesting due to the Auto Analysis feature? The user guide says it's a "built-in complex system of analysis of the current situation on the market with a lot of filters, indicators and apps" and maybe it's not backtest-able making backtest results useless? It's only a guess though!
With that in mind, I have set up 16 versions of the robot on my demo account with different magic numbers so I can monitor them. The first 8 are using Jon's settings (MM=True, LRR=10 Rev Trade=True, Trailing Stop=True) on the 4 markets on 2 Time Frames (M15 and H1 as recommended by GPS guys). The next 8 are on the 4 markets again, M15 and H1, using the GPS default settings which they recommend (MM=False, Lots=0.5(0.01 per $100 on a $5k acc), Rev Trade=True, Trailing Stop=False).
Jon - Is there somewhere where we can all collaborate together to find the best settings for this bot? The necessity to forward test makes it time consuming so maybe we could all work together and test different settings simultaneously? It's hard to keep up within this comments section. Thanks!
Hi John. Yes I like the discussion too that's why i always try to resdpond to everyone and encourage people to get invovled.
The AA feature forces to bot to trade often, I'm not sure that would impact backtesting. A lot of bot developers I have spoken to in the past hate bascktesting as a way of testing their bots though. If you're only getting the standard 90% accuracy then the backtests are worthless and you need to be downloading full tick data to get even close to reliable testing.
I will be be following along with your tests with keen interest! I'll have a think about ways we can all colaborate on various things because I do agree that it would be helpful.
Sounds good approach John! I believe I will organize the same and will do multiple settings options on a few MT4 instances under VPS. Afterward, accounts can be assigned to FXBlue for easy monitoring purposes.
Hi John, did you manage to get some stats/results on your experiment with the multiple settings you had mentioned?
@@mathieuriendeau8398 Hi Mathieu. I remember the demo account blew up when it came to the first recovery trade. What I didn't appreciate when I set it up was that by running the robot 16 times, with risk settings set as if it was only robot on the account, it was only a matter of time before it came to a sticky end!
I do remember that the robot only opened trades on EURUSD, it never got triggered on USDCHF. I also remember that whenever a trade was opened on the H1 chart, it would also open on the M15 chart too. I can't remember what the discrepancy was in terms of returns from H1 vs M15 but it was negligible.
Of the few trades taken before the account blew, I remember it was inconclusive whether Jon’s settings or the GPS settings were best. Some were better with Jon’s, some better with GPS. However the sample size was too small to make judgment.
I’m sorry I can’t be more helpful! I did learn, however, that I should be more aware of margin. The account blew because of 4 trades needing to make recovery trades. Thankfully it was on demo! Now I am wary of EAs which won’t let me backtest, and I also have a healthy respect for forward testing.
can it trade with multiple EA's
I would not suggest doing that, Best to give it a dedicated account
The reversal trade still poses its own risks at 6-7x. It's really a thrill in not a good way as it gets entered once the initial stop is reached based on risk settings. I do wonder at what point the reversal trade to recover initial losses itself will stop out once in play, if at all. Markets change, and this EA again running a trade to stop, triggering a recovery reversal trade so soon on Tuesday this week, not recovering losses quickly is a red flag in my opinion. With the conservative AutoAnalysis=True setting asserted, it seems to trigger trades only at 6 PM Eastern up to twice a week (Tuesday and Thursday, after the market opens). Based on the charts I never would've manually entered the trade this time with RSI in the overbought area.
Thank goodness I'm treating this as a scalper running reduced LotsRiskReductor at 3, recently backing it down from 4 and slightly bumping up the RevAfterSL_Multiplier to 7. Even if this reversal in progress plays out again to get back to even, I'm kicking this EA out to the woodshed and relegating it to demo-only. Learned a lot with this as my first EA, and I'm doing much better with Expert4x Dream Machine (best for sideways markets) and Robotron (another scalper.. no big reversal trade like GPS, and I can backtest it - unlike GPS).
My best wishes for those that are determined to run this EA long term with real money- good luck!!
Is is trading really agressively now, right?
@@jaroslavjakl2966 Yes, and a 7x reverse trade in GPS to recover from an initial losing EURUSD trade this week worked out this morning to get me nearly breakeven after swap financing fees. At one point, both the initial GPS loss and the opened reversal trade were together losing approx 5x.
I'm glad GPS worked out to claw back what was looking to be a large loss in my case, plus I profited on several open Dream Machine PnP H1 and H4 trades with NZDUSD that benefited from this marker action. I’m still planning to unplug GPS from my live account for now - strictly demo.
The reversal trade is certainly not for everyone but again it proved effective with the trades this week. It's interesting that you mention Robotron, because I suffered quite large losses with that bot in September so for me it has been another losing bot. Perhaps you customised the default settings?
@@TradeWise1 but does the reverse trade have a stop loss, or will it keep going and if the trade goes in the wrong direction it would eventually blow the account? Thanks
GPS robot will not work on 1:1000 leverage?
yes it should work on 1:1000
Hi John. I’m checking your tradewise site.. you said that this robot is doesn’t trade very frequently..
U mean it will not trade 24hrs everyday?
what is the function of a VPN please?
the vpn is a server that is always online so you can set up your trading software on the server (remotely) and it will always run. You don't need to have bots running on a pc or laptop this way
with the VPS on the GPS robot, can it work without laptop off while i am away? thanks
At your demo account - if the bullish pullback at the reversal was 40 pips more than it was... Your demo account was blown...
And don't get me wrong - I think GPS is a great EA.
I just think your way of using it is not good.
What settings would be better?
@@samtan5274
The GPS is an EA that have a great winrate thanks to close TP and far SL.
The problem is when you take a loss - it's BIG.
So if you don't use the reversal trades - your account will be a loosing one.
The reversal trades from 2012 100% winrate! So you have to keep it.
Turn it off is a BAD solution so don't even think about it.
That's for start.
@@samtan5274
Second thing - you have to calculate your lots in a way that the reversal trade will not blow up your account if it's going against you for at least 100 pips.
@@user-fq9dn3mz7y so i think we should keep the lotsriskreductor at 10? And leave everything else untouched?
thanks
You're welcome!
Hi all. I am more or less safe, after the last time with reversal (23th sept) was my first trade on real and I definetely setted down to 12. Today again reversal and again recover most of the lost, but with 5,9x never recover the total lost. So again in a small red number. Let´s see just for a while but It doesn´t sound very well. My settings are AA on, TS on n recover ON 5,9x and lots risk 12...1:500 Real account. This bot it´s for trend EU longs...the market right now it´s to about 1,15 down market...So it´s expected more of this trades...And for us that is not good. WHAT ABOUT SENTIENT one? what is this?. Thanks Jon. I am doubing about GPS as a good bot
thanks for sharing Dan. I'll keep testing Sentient and see if the good start can be sustained but I've had strong starts like this before but it doesn't mean it's going to be safe long term.
is your gps eal account not trading, it seems u stopped the ea
I moved brokers but still have a live account on myfxbook (as well as the demo)
@@TradeWise1 what broker can i use icmarket and what vps do you recommend
@@TradeWise1 WHAT BROKER YOU USING NOW, CAN I USE ICMARKET AND ALSO WHAT VPS SERVICE DO YOU RECOMMEND
Trade wise, I have sent the required info to get connected to your community channel and subscription and it says successful however i never the Email that i submitted. Thank you
the confirmation email comes out from aweber.com so make sure your email provider isn't blocking them for some reason
Would you consider having a Discord or telegram group of people who are currently subscribed to your channel using the same services you using and recommending services based on results?
I am considering something like this yes. I wondered about a forum where I can seperate different products/services into different chats, but I need the community to grow a bit before I can commit to something like this (the running costs would be quite high plus I woulnd't want to create something that doesn't have much activity)
@@TradeWise1 Thanks for your responses
Haha! Great minds think alike! I've just posted something very similar. Jon, we could keep it small, just for this bot maybe? Smaller groups can sometimes be more productive... And I think Telegram is free...
Some sort of discussion group on this would be amazing
Hi Jon. I've just emailed you about this GPS EA, hope you can help.
thanks I'll get back to you soon
My position on this is that we are taking a very risk using this kind of robot strategy. The new robot strategy is for robot to cancel the trade before the loss is too huge and then put in new trade to follow the current trend. Must always try to follow the . The use is strengthening like hell , this can happen a few more times before the use gets to its new normal level. With the new robot strategy, you can never loose, the question is how much you win. There is no risk to ruin as the robot does not hold onto loosing trades. It picks very small lots at a time. We are seeing monthly gains of up to 70%. Drawdowns could also be on the high side but the yield is really on the high side
thanks for sharing your input, Etim.
@@TradeWise1 you are mostly welcome. Please don't think that I'm trying to sound negative. The modern robot strategy now is to make sure that active trades are not held more than 48hrs, pending P/F is at barerest minimum, trend is followed as much as practically possible, risk to ruin is zero. In this case the robot is not afraid to close bad trades from time to time, instead of going for a full stop loss which involves loosing a huge amount of money for example this period of the sudden strengthening of the USA dollar. It gives you comfort and sense of security. The only thing you have to set is the per cent age of your capital that you are willing to risk. Im going through 2 of them now and the results are outstanding. Like up to 70% monthly gain albeit with large drawdown. But with such gain you don't worry so much about drawdown. Most important thing is the safety of your funds
@@etimok which robot is that? The one thats giving you 70% gains monthly.
@@TheRfh901 I said it can give up to 70%. Most important thing is the safety of your funds but happily the new strategy comes with good profits.
@@etimok so what settings did you have
To open e reverse trade with increased lotsizes after a whole drop of massive pips is not that smart of a move
it's counterintuitive isn't it? But it works
@@TradeWise1 yes. I still wanna try it on a separate account
I find if the bot has a trade longer than 2 hours, it's a losing trade.
I've had plenty of trades open for half a day that close in profit, but most profits are gained within a couple of hours as you say
@@TradeWise1 Do you find that your trades open during the Asian and Aussie Session?
@@expertadvisors4109 yes it's the same time every trade. This is because markets are quiet with no big volatility expetced from news etc. This is common with EA's, I notice that Robotron is doing the same thing.
@@TradeWise1 Do you have a review on Robotron? I am currently trying out Fapturbo 3. And have not been happy with the results so far.
@@expertadvisors4109 I'm not ready to review it yet, still testing. I'll be posting to my YT channel when I'm ready to review it though
Looks like it happening again:(
Is is trading really agressively now, right?
Same situation as the video. Initial buy went bad then the reverse trade went bad. Seems to be improving today though so may get out of this. I'm running the LotRiskReductor at 20 but halved the RevAfterSL_Multiplier to 3 to try and save blowing the account. But it means it need to drop 300 points rather than 150 to recover the loss. I probably set the LotRiskReductor back to 10 as seems safer given it's happened twice in last few weeks.
Actually the RevAfterSL_Multiplier isn't smart enough to increase/decrease the reverse trade TP to recover the loss. Seems it's set to 150 points and closes regardless of the multiplier. So my reverse trade has now closed but because it was set to 3 it's only made back half of what I lost. :(
Given this I'm definitely changing LotRiskReductor back to 10 and RevAfterSL_Multiplier back to 5.9. Also i'm not confident to run this against a large account given this happened twice now in few weeks.
@@amp9438 great points there man. I am running it on demo from the beginning of October and mine reversal trade nearly covered the Loss. I have the lotsizereductor set to 20, reversal trade multiplier to 5.9 and I am trading with 1:500 leverage. But Jonathan Myfxbook shows huge drawdown after half a year right now if you look on the demo fxbook. Can share my Myfxbook if you want.
It's a real shame this bot can't be backtested so we can try to understand what the settings do. :(
I think GPS Robot is crap I placed it on a $1000 demo account and the account is now down to $524 so it doesn't work very well.
did you not get the reversal trade then Scott? Those that did came out very nicely.
@@TradeWise1 I don't think so I've had a hard time finding anything on setting GPS up for best results.
What do your settings look like?
@@expertadvisors4109 Use MM true, Lots 0.01, Lot risk 11.0, Auto Analysis False, UseRevAfterSL True, Trailing sl True, everything else set at default.
@@scottrudy426 The first problem I see is that you trade every day with the bot and your risk is too high considering the account that you have
your gambling with this EA good luck
All EA's are gamble, as indeed any for of forex trading, but at least one has the longest provien track record out there
@@TradeWise1 yes but you don't understand how bad gps risk mangmnet is check the code out you will figure it out your self
@@TradeWise1 do you have an idea of what 61% drawdown mean to your trading acc?
@@TradeWise1 and your account is also losing money
Unluckily my real account blow.. lost 11K $
How did the account get blown? Were you running the fast settings (with AA set false)? You should either have had a reversal trade that got you out at about breakeven or lost only a portion of your trading account, as happened on my live account