Forex Envy

[deathlord]

Not to mention that some seem to have forgotten that blown accounts have to be considered part of FE's strategy ... that's why TE suggests the savings account in the first place. FE is not designed to survive forever, it is designed to generate enough profits to be able to compensate.

[Madman]

Hello, I'm new to Envy.
I'm running Forex Envy 2.1 long cycles only, HV.
I run it since 2 weeks.

I run it on an ECN broker with 20 real K

Currently I am 9% DD (-1700USD)
Mosts levels are 1-2 but I have
AUDNZD (buy) level 7
GBPUSD (sell) level 8
AUDUSD (sell) level 9
NZDUSD (sell) level 9

I have disabled (for now) EURUSD and EURJPY (as I am new to Envy and went live directly)

I am not very worried, but a little bit.

Do you think I should not worry at all?

Thank you !

That's fairly normal and not at all uncommon. With that much money on the line, you'll want to make absolutely sure that no short cycle pairs are kept open over the weekend - if necessary chickening out any of them that haven't closed by the end of Friday before your broker closes for the weekend...

As an example, I have three live accounts at the moment:
- Balance $834, current P/L -$160
- Balance $557, current P/L -$187
- Balance $436, current P/L -$22

The first two accounts are running tweaked settings that increase the potential profit (& subsequently risk) of the lower levels, while the third account is running completely as Team Envy specify.

[sponn]

Hedging was just an idea. If BearBull and some of you doesn't use hedge their accounts were gone now. So I don't know why some of you think it's bad idea... But team envy always can make hedge true or false, right...

Not all of us are able to watch trades all day/night long and hedge when it's neccessary...

Also hedge option can come with trailing stop... Let say it can set SL 10 pips from entry price when it open a trade and then trail 1pip for every 1 or 2 pips move until sl will be set at entry (or entry +1pip). It always can be a retrace but this way you will lose only a few % of your account. If you don't hedge account will be gone... And ALL money lost..

An automated hedge for Martingale EAs is something like putting another martingale on top of the one in trouble. Many have tried to implement it, but I have not seen one that worked or even decreased risk.

Let's assume you are at a high level in trouble and hedging kicks in (at high level, because at this stage low level hedge trades won't help you anymore). The EA starts to hedge, the trend continues and your account is stabilized for the moment. Then finally the retracement comes and the original trades get closed ... lucky you, but wait ... now we got a retracement against the hedge trades, and those are now in trouble ... Should the EA now start to hedge against the hedges?

That's the story of automated hedging ...

Please first read what i have written. Hedge only when we have got full basket, with sl at entry price. So what you wNt to hedge when retrace comes if hedge trade will be closed at entry price by ea itself...

[supern0va3000]

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Hello, I'm new to Envy.
I'm running Forex Envy 2.1 long cycles only, HV.
I run it since 2 weeks.

I run it on an ECN broker with 20 real K

Currently I am 9% DD (-1700USD)
Mosts levels are 1-2 but I have
AUDNZD (buy) level 7
GBPUSD (sell) level 8
AUDUSD (sell) level 9
NZDUSD (sell) level 9

I have disabled (for now) EURUSD and EURJPY (as I am new to Envy and went live directly)

I am not very worried, but a little bit.

Do you think I should not worry at all?

Thank you !

I am in a similar situation as you , I am running 2.1 Long cycle only pairs excluding EUR/USD and EUR/JPY since about 1 week on NV settings (the only settings sent to me by TE for my broker which is Gain Capital UK)

I am also using a 20K real account and currently I am on around 11.6% drawdown and I started to get worried , What should I do ? I don't know

Note that I am also trying 3.015 power long&short modes on a demo account of 40K on a different broker , and its doing much better than my Live account.

I sent an email to TE , and waiting for anyone to explain or reassure me ..

[petersurrey]

Hello, I'm new to Envy.
I'm running Forex Envy 2.1 long cycles only, HV.
I run it since 2 weeks.

I run it on an ECN broker with 20 real K

Currently I am 9% DD (-1700USD)
Mosts levels are 1-2 but I have
AUDNZD (buy) level 7
GBPUSD (sell) level 8
AUDUSD (sell) level 9
NZDUSD (sell) level 9

I have disabled (for now) EURUSD and EURJPY (as I am new to Envy and went live directly)

I am not very worried, but a little bit.

Do you think I should not worry at all?

Thank you !

You're about 50% underfunded for a 2.1 HV account on an ECN - this is key for FE most of the blown accounts to date a have been underfunded ..

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

I would disable other pairs until you get account back to steady level then look at IBFX micro or add more funds..

[petersurrey]

Hello, I'm new to Envy.
I'm running Forex Envy 2.1 long cycles only, HV.
I run it since 2 weeks.

I run it on an ECN broker with 20 real K

Currently I am 9% DD (-1700USD)
Mosts levels are 1-2 but I have
AUDNZD (buy) level 7
GBPUSD (sell) level 8
AUDUSD (sell) level 9
NZDUSD (sell) level 9

I have disabled (for now) EURUSD and EURJPY (as I am new to Envy and went live directly)

I am not very worried, but a little bit.

Do you think I should not worry at all?

Thank you !

I am in a similar situation as you , I am running 2.1 Long cycle only pairs excluding EUR/USD and EUR/JPY since about 1 week on NV settings (the only settings sent to me by TE for my broker which is Gain Capital UK)

I am also using a 20K real account and currently I am on around 11.6% drawdown and I started to get worried , What should I do ? I don't know

Note that I am also trying 3.015 power long&short modes on a demo account of 40K on a different broker , and its doing much better than my Live account.

I sent an email to TE , and waiting for anyone to explain or reassure me ..

..note earlier reply - allow current orders to close out and restrict other pairs from trading by FATP; and then move brokers or add funds...remember just one or two pairs at level 14-15 require huge amounts of margin ( 38K @ 500:1)...don't underfund FE accounts!

[Anchorpoint]

For me, 50% is when I start to look at taking manual actions to reduce Risk and free up margin by Manually Closing Baskets in Profit. To do this you need to FATP the Chart so it does not Open up new Trades to replace the ones you Closed in Profit.

I will consider a Hedge but only when a Basket has hit it's Max Level.

BB are you referring to 50% DD or Margin in use?

[proscalp]

You're about 50% underfunded for a 2.1 HV account on an ECN - this is key for FE most of the blown accounts to date a have been underfunded ..

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

I would disable other pairs until you get account back to steady level then look at IBFX micro or add more funds..

Thanks all for your answer,

According to FE team, V2.1 long only HV needs only 22K, BTW setting files names is "22-30K HV"
And I don't run EU and EJ

About those who tell me to close level 10, why not, but thought also this is in high level that FE makes its money!

And about setting up BTP at BE, I noticed it changes almost nothing, like it can be 1,2322 instead of 1,2317, 5 pips !

I'm lost ha ha

Thanks

[petersurrey]

You're about 50% underfunded for a 2.1 HV account on an ECN - this is key for FE most of the blown accounts to date a have been underfunded ..

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

I would disable other pairs until you get account back to steady level then look at IBFX micro or add more funds..

Thanks all for your answer,

According to FE team, V2.1 long only HV needs only 22K, BTW setting files names is "22-30K HV"
And I don't run EU and EJ

About those who tell me to close level 10, why not, but thought also this is in high level that FE makes its money!

And about setting up BTP at BE, I noticed it changes almost nothing, like it can be 1,2322 instead of 1,2317, 5 pips !

I'm lost ha ha

Thanks

You should be OK with current settings - remember the big profits are made from 10-14 levels closing out, which they inevitably do- you just need t make sure your account has sufficient funds/leverage to deal with 2-3 14 levels at once.  10% DD is the norm for FE BUT for peace of mind I would always over rather under fund FE accounts or go for a IBFX micro account; and of course keep other funds in reserve just in case.

[supern0va3000]

Hello, I'm new to Envy.
I'm running Forex Envy 2.1 long cycles only, HV.
I run it since 2 weeks.

I run it on an ECN broker with 20 real K

Currently I am 9% DD (-1700USD)
Mosts levels are 1-2 but I have
AUDNZD (buy) level 7
GBPUSD (sell) level 8
AUDUSD (sell) level 9
NZDUSD (sell) level 9

I have disabled (for now) EURUSD and EURJPY (as I am new to Envy and went live directly)

I am not very worried, but a little bit.

Do you think I should not worry at all?

Thank you !

I am in a similar situation as you , I am running 2.1 Long cycle only pairs excluding EUR/USD and EUR/JPY since about 1 week on NV settings (the only settings sent to me by TE for my broker which is Gain Capital UK)

I am also using a 20K real account and currently I am on around 11.6% drawdown and I started to get worried , What should I do ? I don't know

Note that I am also trying 3.015 power long&short modes on a demo account of 40K on a different broker , and its doing much better than my Live account.

I sent an email to TE , and waiting for anyone to explain or reassure me ..

..note earlier reply - allow current orders to close out and restrict other pairs from trading by FATP; and then move brokers or add funds...remember just one or two pairs at level 14-15 require huge amounts of margin ( 38K @ 500:1)...don't underfund FE accounts!

Thanks for answering.
Can you please elaborate on what I should do exactly ? Do I need to chicken-out or just use the "freeze after take profit" feature for the pairs I am currently using (7 long pairs)
Also , Why should I change broker or add funds ? According to team envy , they told me 20000 is appropriate for my account. and settings files says "20K to 28K". Also in your list my account is a micro with 1:200 leverage , so I need 14700 and I have more than that.

Can I switch to Envy 3.015 (Long cycle only) using the same magic number for my current pairs and it takes care of my open positions ?

Thank you very much !

[petersurrey]

I would leave everything alone for the moment and don't switch to FE3 which has it's own issues at the moment - you're at the lower end of funding but nothing disastrous - try to always use more than the maximum funding requirement, even if this means trading a micro account initially. You need to mentally tough to trade FE ( and forex!) as it frequently gets to 20-40% DD where, as per previous reply, most of the profits are made. Nearly all early (at basket levels 10-14) interventions by traders produce unnecessary losses. Remember trading is at the end of the day your responsibility; and if you find yourself panicking trading a system you're not familiar with you are either risking too much money or not suited to the high risk/reward forex world...

[Shawn]

Got about 24 pips last week. So good so far.

[nwboater]

It appears doing what is needed to form a Quasi PAMM via an UAE based IBC is not that easy, quick or simple to achieve.
Time to look at alternatives.

Have asked InstaForex a barrage of questions, which if answered favourably should
 see a NextGen Envy 2.1 PAMM Account set up and running shortly.
Plan to deposit $30k into the Account and expect to see at least 25% per month ROI (after Commission).
Will provide more information soon.

BTW the NextGen Set Files will allow me to tailor the Risk per Chart, from my historic Basket analysis data, to
 reduce Risk from Big Baskets while delivering more ROI.

NextGen Set Files with VBTP (Variable BasketTakeProfit) and VBLS (Variable BaseLotSize) customised per CHART,
 will be, I believe, a very significant leap forward in Envy trading results.

When 3.0.XX has 1 to 2 months of Live FE Trading on MyFxBoox, I may consider opening up another PAMM to use it.

BB - Love your determination and great ideas.

Do hope it will work out with InstaForex, but wondering about the issue with that type of broker betting against us. That's how they make their money, right? If so can't imagine they'd be very happy consistently paying out 25% + per month on a large account. But perhaps that's one of the many questions you are looking for an answer on.

Thanks again for sharing all your efforts!

Cheers,
Rod

[iger]

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

Robert,

I understand that this is for ver. 2.01 - is that correct ?
Could you please specify Target Monthly Profit in %, Target  DD in %, and maximum open trades per each (HV, NV, LV and Power) settings.

Thanks

[proscalp]

Hello, please, how can most of you (official FE accounts, Gertje's envy, ect), have 96 to 100% equity with lasts huge GBPUSD, EURUSD, EURJPY, AUDUSD, NZDUSD, AUDNZD ?

Because in my case I am -7% whereas I don't run EURUSD nor EURJPY, I don't understand

Another question, if I am about -350USD at each level 9 pair (FE 2.1 HV long), what would be my DD at level 10, 11, 12, 13, 14, 15 ?

Thank you