ForexRobotTrader by Steinitz (Metatrader Expert Advisor): Aug 14, 2007

August 14, 2007 Minnelli 5 comments

ForexRobotTrader by Steinitz (Metatrader Expert Advisor) | HAS MTF EA v2.2 – Tuesday, August 14 was MARGIN CALL DAY – It all started on July 2 with a $1000 and ended today (last night) with only $153.04 (I held on for a 89% Drawdown). That’s a $846.96 loss in a matter of 6 weeks. Again, we must point out this was a very conservative money management strategy I used. The death blow was obviously the JPY crosses, but other pairs did us in as well. Here are the margin call trades – trade by trade. The EA’s lead developer stated that a margin call could happen, they have no way of testing several pairs at once. It’s true one position can bounce back but several like in many of our cases just flat out kill the account. I will continue to work with the new version of the EA, that will institute stop losses. However, I’m afraid they are picking those levels by backtesting – so the inherent flaw will be backtested stops will not necessarily work in the future. I think this EA will be a long time in development and may not ever make it primetime – only time will tell. I will do my best to test out and track the new EA when it is released to give you all a solid base to compare against. I have sacrificed $900 for this EA so far not included the VPS costs — my lose will be your knowledge gain. Good luck…

chfjpy -$73.13
eurjpy -$149.32
audusd -$144.00
gbpusd -$112.20
eurusd -$78.00
audnzd -$73.53
eurchf -$64.04
usdcad -$32.90
eurgbp -$15.65
usdchf -$62.03

As always keep checking my LIVE statement this is being updated every 5 minutes( well not any longer but you can see what happens to an account in a margin call) at: http://minnelli.com/forex/mystatement1.htm

Closed Trades:
Today: 10 for -$797.95
Week: 15 for -$1208.46

Open Trades:
None – MARGIN CALL

Summary:
Balance: $153.04 – high balance was $1381.57
Equity: $153.04 (89% Drawdown from high of $1381)

Weekly Summary
Date From – To = End Equity/Start Equity(Pct) | Trades Balance +/- Profit
*June 25 – June 29 = $1006.33/1000 (.6%) | 21 Trades -16 win 5 loss closed all trades in Ver 1.1
July 1 – 6 = $1054.69 /1006.33 (4.8%) | 17 Trades $1074.93 +68.60
July 8 – 13 = $1127.33/1054.69 (6.8%) | 16 Trades $1178.64 +103.71
July 15 – 20 = $1198.69/1127.33 (6.3%) | 19 Trades $1284.43 +105.79
July 22 – 28 = $493.00/1198.69 (-58.8%) | 10 Trades $1341.00 +56.57
July 30 – Aug 3 = $604.75/493.00 (+22.6%) | 3 Trades $1361.50 +20.50
Aug 5 – 10 = $362.37/604.75 (-40.0%) | 5 Trades $950.99 – 410.51
*starting balance on June 25 was $1000

http://www.forex-tsd.com/steinitz-method-scalping-method-ea.html