Trouble with Forex Hoster and Robot Setup

Hi folks,

I cannot tell you how many posts I have read from FAPT members which were awaiting some kind of response from their VPS host service or awaiting someone like Robot Setup to setup their EA on a VPS.. As a test I sent an email a week ago to Robot Setup to see if I would get a response given I heard they were not answering clients questions or assisting in any capacity.

Sure enough as I suspected a week plus later and STILL I have not received a reply to my email. I did however receive an automated response telling me my email would be answered in 24 hours. Daily I see FAPT members rightfully complaining how they cannot get the service which they paid for.. Interestingly the payment pages are still up and running.. They will take your money, but not respond to any queries regarding times for job completion.. WOW...

You would have thought by now it would have occured to them people are getting increasingly frustrated from their no response policy..

It's obvious to me their service was inundated with requests and they could not handle the many requests for EA setup assistance. Robot Setup.com should take down their payment processor and pages while they make a concerted effort to catch up..

The other lemon is Forex Hoster ... They are not responding and getting out the login details for their customers either..

What is working really well is ForexVPS This company has the cleanest setup and will not dilly dally with your account information. Signup and subsequent login details are dispatched to your email address within hours and not weeks . Further they are half the price.

If you are looking to get setup contact fap.remote@gmail.com

Until next time folks.. Happy trading,

Chris Forex

New FAPT Release 47

Hi Traders,

I really like the newest FAPT 47 universal version if for no other reason then it simplifies my life with respect to answering questions regarding the differences between FAPT37 and FAPT45 . LOL

The best change and perhaps the most frequently asked question amongst the FAPT membership is the GMT Offset. Thank you programmers for making this an automatic calculation.  :)

Once again the FAPT developers delivered and delivered BIG. Where else can you find a company that listens and makes revisions based on user input? Not aware of any myself.. 

There is one setting which is rather amusing. I have discussed this setting sometime ago with Donna Forex.. We called it the Contrarian trading system. The setting I speak of actually will do the reverse of how the FAPT EA typically trades. This is for those of you who believe the FAPT always is trading in the wrong direction. Change Scalper_ReverseTrade and your EA will literally take the opposite position your robot would normally take :)

Other noteable changes worthy of mention. The ability to set the Scalper start and end work times between hours instead of from one hour to the next.  Now you can trade in between by setting the Scalper_StartSessionMinute from 1-59 minutes and your Scalper_StopSessionMinute as well can be between 1 and 59 minutes

I am very pleased to see the FAPT develop into a consistently ever evolving profit machine.

Have a great week everyone,

Chris

So far so good.

The new settings incorporated into both the EURO/GBP and EUR/CHF seemed to have been successful.

Below is an image of my transaction history taken from MT4. Notice the time of the sell until the end when it was sold for profit.

This is the result of setting the Scalper_UseCustomLevels to false.

As I have written previously.. You change this setting and no longer will the FAPT robot close out a trade for a small loss after hours in the market.

You can clearly see here the time of the trade and then the time of exit

Now of course it could go to full stop as well but considering the number of time this actually happens compartive to the amount of trades which end in either small losses I think my chances of the former then the later proves itself out.

FAPT  as the premiere EA is clearly making money and taken shape.

Pips Ahoy

Chris

Settings for FAPT EA

After careful deliberation I have decided to alter my settings on both trading accounts.  Actually I had changed these settings a day or two ago.

I lowered my stop loss on the EUR/GBP pair to 30 pips on both accounts because I read backtesting proved this to be the best optimal setting given present market conditions.

Last evening the same account with FXDD hit the SL twice for two losses of 30 pips each .. The other account with FXCM only hit the SL once for a loss of 30 pips as well.

Today May 7-09 I have decided to put the FXDD account back to the default setting of 112 pips as coded in the robot and leave the FXCM account at 30 pips SL.

The one similarity which I have changed from defaults for both accounts is the Scalper_UseCustomLevels ..  This change as all changes can be done by using F7 key .. This will get you to the properties of your EA. You will see as you scroll down the Scalper_UseCustomLevels variable .. Change this to False from the default of True if you rather go to SL or TP . 

In this way there are two scenarios which are plausible.. One the EUR/GBP will go to full stop loss which I have set or it will go to the TP ( incidentally I have not made adjustments to TP or take profit)

Below are my settings for both accounts

FXDD Settings EUR/GBP

EURGPB, GBPCHF or USDCAD M15 ---

UseScalperStrategy=1

Scalper_Lots=0.10000000

Scalper_UseMM=1

Scalper_LotsRiskReductor=20.00000000

Scalper_MaxLots=10.00000000

Scalper_GMTOffset=3

Scalper_StartWorkTimeHour=21

Scalper_EndWorkTimeHour=0

Scalper_EURGBP_TakeProfit=6

Scalper_EURGBP_StopLoss=112

Scalper_EURCHF_TakeProfit=5

Scalper_EURCHF_StopLoss=53

Scalper_GBPCHF_TakeProfit=10

Scalper_GBPCHF_StopLoss=75

Scalper_USDCAD_TakeProfit=10

Scalper_USDCAD_StopLoss=58

Scalper_StealthMode=1

Scalper_ProfitLimit=0.00000000

Scalper_LossLimit=0.00000000

Scalper_UseCustomLevels=0

Scalper_RelaxHours=0

Scalper_SimpleHeightFilter=1

Scalper_TrendFilter=1

Scalper_TradeFriday=0

Scalper_OneTrade=0

Scalper_OneOpenTrade=0

Scalper_UseFilterMA=0

Scalper_PeriodFilterMA=100

Scalper_PriceFilterMA=0

Scalper_MethodFilterMA=0

Scalper_MaxSpread=20.00000000

Scalper_Slippage=6

Scalper_ExpertComment=FapTurboScalper

 

FXCM Settings EUR/GBP

____Scalper___________=--- Scalper EURCHF, EURGPB, GBPCHF or USDCAD M15 ---

UseScalperStrategy=1

Scalper_Lots=0.10000000

Scalper_UseMM=1

Scalper_LotsRiskReductor=5.00000000

Scalper_MaxLots=10.00000000

Scalper_GMTOffset=-4

Scalper_StartWorkTimeHour=21

Scalper_EndWorkTimeHour=1

Scalper_EURGBP_TakeProfit=6

Scalper_EURGBP_StopLoss=35

Scalper_EURCHF_TakeProfit=5

Scalper_EURCHF_StopLoss=53

Scalper_GBPCHF_TakeProfit=10

Scalper_GBPCHF_StopLoss=75

Scalper_USDCAD_TakeProfit=10

Scalper_USDCAD_StopLoss=58

Scalper_StealthMode=1

Scalper_ProfitLimit=0.00000000

Scalper_LossLimit=0.00000000

Scalper_UseCustomLevels=0

Scalper_RelaxHours=0

Scalper_SimpleHeightFilter=1

Scalper_TrendFilter=1

Scalper_TradeFriday=0

Scalper_OneTrade=0

Scalper_OneOpenTrade=0

Scalper_UseFilterMA=0

Scalper_PeriodFilterMA=100

Scalper_PriceFilterMA=0

Scalper_MethodFilterMA=0

Scalper_MaxSpread=10.00000000

Scalper_Slippage=6

 

So you want to Hedge ?

As promised an update on hedging and how to get around the new NFA regulation regarding hedging.

What can you do to circumvent this new regulation due out May 15th-09

1/ Change to a non NFA regulated brokers.. Not the most favourable but perhaps the most obvious.

2/ Continue with your broker and inquire with support if in fact they have a branch outside of the US where you get keep your account and simply have it transferred. 

3/ Come to an agreement with a partner such as a wife and or husband and register another account and using both accounts you can use the hedging technique at your discretion.

4/ Last but certainly not least. Open a second account with your broker and use another identity.

There is good in bad with those kinds of decisions. Obviously a non NFA regulated broker could present challenges which you want to avoid. An NFA regulated broker provides some peace of mind and protection and attempt at least to keep broker honest and on the up and up. Wow I actually used Honest and Broker in the same sentence. LOL 

And finally just because a broker is NFA regulated does not necessarily mean things cannot go sour. It certainly adds a layer of protection from an investors perspective however the process is not entirely flawless.. 

Happy pipping,

Chris

NFA and Clarity of Hedging

This post is an addendum to the previous post on the new NFA rule on Hedging which incidentally will take affect May 15th, 2009

This new rule will only apply to NFA registered brokers.. If your broker is outside of the US then you will not need to concern yourself with the aforementioned NFA Hedging rule. In fact there are some suggestions that US brokers will allow transferring of accounts to their branches outside of jurisdiction if traders wish.

Tomorrow I will discuss available options for traders who wish to continue to hedge.

Until then,

Chris

Forex VPS

Just wanted to quickly remind everyone that Forex VPS is indeed a great place to have your MT4 trading platform off of your computer and on to a virtual server.. Why would you do that? 

Well if your computer goes down so does your MT4 trading platform and any of your EAs which had open trades could suffer huge losses because your trades are no longer being managed by your EA..

Safety and security for peanuts.. 

http://www.forexvps.com?a_aid=ForexVPS1

Testimonial which I gleaned from review sites

I have to say the service for the price can't be beat! Let me clarify, they are the first and only VPS I have used. Of course I did find the start up was a bit more involved than I hope, I think that was due largely to my technical knowledge.
The staff offered to install EA's for me when I was having difficulty and even emails are answered lightning fast. 
I would offer this advice if needing assistance use the voice chat and log off your account.
They are great and I am very happy with the service and price

http://www.forexvps.com?a_aid=ForexVPS1

Chris