Forex Envy

[mmbeak78]

If you're actually looking at starting with $10k capital and you only want to trade with a micro account (I assume to run an ECN account?), then I would wait a while and see what other options are open to you once FE3 goes live.
A PAMM account may suit you better until you have the capital requirements for running FE3 with perhaps Power or HV set files on a micro account yourself.
Your choice though, of course

[Shawn]

I got this EA. Will let you know how it goes.

[mmbeak78]

Weekly Outlook email is out. PLEASE remember to NOT share the contents of the email !!!

Good Luck & Green Pips To All,

Marc

[John Henrik]

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I have a couple of questions regarding version 3.

1. I fully understand that the minimum start amount for Power is $18,000. However, if I want to run a demo with say $9,000 with default settings and risk 1, will the EA treat it the same way as it would an $18k account (as that is the minimum), or would it automatically adjust the lot sizes etc for a smaller account.

2. Can you switch off the automatic FATPs sent by the server?

Minimum start size for FE3 depends on broker, so if you use tradeforte it is a few hundred $ for their flexi cent account

If you demo a $9K account on an ECN you will be do so at double recommended risk..

https://docs.google.com/spreadsheet/ccc?key=0ArZy3Hp-O64JdEE0Si1VeFNnYzlORWhZMGQ0ZXhVN1E#gid=0

What would happend if u ran HV-long-only on a 10 000 USD account ? Would that be safer then NV long only?

HV @10k is less than 1/3 recommended minimum account size, so you'd be running at 3.6x normal HV risk. Which is probably a lot more risky than running NV mode at its recommended account size.

Perhaps Robert can confirm.

The spreadsheet only say "Long only" on the NV settings. So I assume the minimum capital of 27K is with both long & short for HV.
Therefor I wonder

[mmbeak78]

HV capital is incorrect. Should be $36k (thanks BB for pointing this out).

[Umeku]

HV capital is incorrect. Should be $36k (thanks BB for pointing this out).

Haven't received confirmation from Robert yet. While I respect BearBull and his work, I will be basing my data on official sources only.

[petersurrey]

..interesting the power version performed better than HV in last weeks  volatile markets, in terms of overall dd and profit according to the official records; and after allowing for early closures by FE...assuming the long cycle myfxbook record is HV?...

http://www.myfxbook.com/members/ForexEnvy/forex-envy-insta-forex-3/187437

http://www.myfxbook.com/members/ForexEnvy/forex-envy-power-edition/286534

[Chris85]

I usually reboot my pc and start fresh before the market open.

What I have noticed is that 3.0 is not responding to F7 (EA properties) It seems that it has crashed sometimes last week. Restarting the pc and removing/re attach seems to have fixed it.

So do check regularly, a non responding FE wont create the next level to close the basket on retrace.

[petersurrey]

I usually reboot my pc and start fresh before the market open.

What I have noticed is that 3.0 is not responding to F7 (EA properties) It seems that it has crashed sometimes last week. Restarting the pc and removing/re attach seems to have fixed it.

So do check regularly, a non responding FE wont create the next level to close the basket on retrace.

..and you can close your charts and re-boot any time - FE will be OK whether you are using version 3 or 2.1; providing it doesn't take longer than a minute or two...

[forexfish]

Hi Guys

I am considering to buy license from someone.

Is one license is for 3 real money and 3 demo accounts ?

[mmbeak78]

Hi Guys

I am considering to buy license from someone.

Is one license is for 3 real money and 3 demo accounts ?

Correct.

[forexfish]

Hi Guys

I am considering to buy license from someone.

Is one license is for 3 real money and 3 demo accounts ?

Correct.

Thanks mmbeak78

[Highlander]

"Longs can use the most Margin.
USDJPY is the worst."

BB, may be, we need to exclude this pair ('cause for top safety accounts..)?  but, i have never seen big baskets with USDJPY.. Am i wrong? (EURJPY - yes, alot of..)

[Forex_Envy]

We have had a few questions about the recommended amount of starting capital required for different settings and account types. This information should be helpful:


   -Recommended level of capial for HV, NV, LV and Power settings-



Trade Fort, Insta Forex, Trading Point and Profi Forex cent and micro accounts:



High Volatility settings (Long and Short Cycle)
$360 for Long and Short Cycle Pairs (Max 12 set files).
$220 for Long Cycle only (Max 7.32 set files).


Normal Volatility settings (Only available in Long Cycle)
$105 (Max 3.5 set files)


Low Volatility settings (Only available in Long Cycle)
$75 (Max 2.5 set files)


Power Settings (Long and Short Cycle)
$180 (Max 9 set files)




IBFX AU mini account, Lite Forex floating spread PAMM and Inst Forex standard accounts:

High Volatility settings (Long and Short Cycle)
$3,600 for Long and Short Cycle Pairs (Max 12 set files).
$2,200 for Long Cycle only (Max 7.32 set files).


Normal Volatility settings (Only available in Long Cycle)
$1,050 (Max 3.5 set files)


Low Volatility settings (Only available in Long Cycle)
$750 (Max 2.5 set files)


Power Settings (Long and Short Cycle)
$1,800 (Max 9 set files)



All Standard account using 100,000 units per lot traded that allow micro lots (0.01 orders), heding and have leverage of 300:1 or higher. IC Markets, Synergyfx, Pepperstone and FX Primus are all good chioces.



High Volatility settings (Long and Short Cycle)
$36,000 for Long and Short Cycle Pairs (Max 12 set files).
$22,000 for Long Cycle only (Max 7.32 set files).


Normal Volatility settings (Only available in Long Cycle)
$10,500 (Max 3.5 set files)


Low Volatility settings (Only available in Long Cycle)
$7,500 (Max 2.5 set files)


Power Settings (Long and Short Cycle)
$18,000 (Max 9 set files)



If you are using a Standard broker that only allows 100:1 leverage then the starting capital requirments will be twice the stated values in the chart above.


Regards,

Robert

[Madman]

I think the increase profits were due to larger baskets being formed on the Server Friendly TRUE account because it was not closing trades properly. I can run a side by side to test things out.

Robert

Server Friendly mode was originally designed for Trading Point users because Trading Point was saying we use too many modify orders.

I don't think it is more profitable than running Envy normally, but some may disagree.

-Robert

Yes,

I have just been sent a new version of 3.0. Server Friendly mode is working perfectly, no zero SL bugs and much lower CPU usage

Should be released soon.

Robert

Any updates on the 3.0 release? (for live trading)

What is the main advantage of "server friendly" mode
My understanding is that it doesn't set SL/TP on the server and keeps track of them in the EA.
But isn't it better to have them on the broker's server... better faster execution in a fast moving market.. and putting the responsibility on the broker rather than my PC?

I've recently moved and had the EA off for a few days.. and much to my surprise, many of my open trades closed nicely in TP.. made a bit... but certainly no loss..

Robert you may recall you had a server friendly version running alongside the non server friendly, before the last bug, and it's profits were through the roof compared to non server friendly...which in theory, as you say, they shouldn't be..

My understanding (could well be wrong) was that it was due to movement over the weekend - for a MM'ing broker, they may close over the weekend (so that we can't see what the market is doing or intervene etc.) but as the markets run 24/7, they still get updates and they still process the SL/TP values. So if over the weekend you have an open BUY basket for EURJPY and the prices rises up to your TP value, those trades will be closed at TP.

However, when you are running with server friendly mode true, the broker doesn't know your SL/TP values, so therefore it won't close the trade due to weekend movements. So if there's a large gap at market open, your trades may all close immediately when FE notices that the current price is greater than the TP required.

However the opposite is also true - if the markets moves against you over the weekend with Server Friendly Mode on, then it may take a lot of your balance with it as FE will be unable to close your trades at the SL value it wants to, and the broker won't do it for you either.