Smart FX Technology

[Andrew]

Hello John, nice to hear from you again, you're running these on HotForex live account I assume? I've been trying just the Scalper on a Pepperstone demo for three weeks using default settings and like a lot of people find it gains then loses on a regular basis. Up about $200 on a $3000 dollar account. Will try it on HotForex and FinFX this week.

[Johnnykanoo]

hey guys. Sorry I haven't posted much. It has been so crazy around here lately. Anyway I do have a snapshot of the Smart FX Tech results and they are very impressive to say the least! Have a look.

[Johnnykanoo]

January 2012 Results

EUR/USD Break out hunter




EUR/CHF Scalper




EUR/GBP scalper




EUR/AUD scalper




USD/JPY scalper




EUR/CAD Scalper




**As you can see January has been a tough month, however I still love these ea's and I am still very happy with them. This drawdown period would have been greatly reduced but I made a serious mistake in terms of money management. I will explain more in my next post.

[Johnnykanoo]

**Originally posted at babypips**

Hi everyone,
So I have been watching what is going on with these ea's closely and I am starting to form some conclusions.

for one I am a victim of my own money management. Here's why well you know what I am scatterbrained let me post my results and talk about my risk profile than I will get back to the above statement.....
January 2012 results

eur/usd net pips +388 84% win rate pf 3.08 +3.98% gain risk profile 1,1,1 (I am refering to TF_M1 LOTPCNT M15 and M30)
eur/aud net pips -132 60% win rate pf .47 -6.86% gain risk profile 4.5,4.5,4.5
eur/chf net pips -13.8 66% win rate pf .51 -1.05% gain risk profile 4,3
usd/jpy net pips 25.5 100% win rate pf no data .26% gain risk profile 1,1
eur/cad net pips -232.6 72% win rate pf .26 -8.55% gain risk profile 4,4,4
eur/gbp net pips -77.3 43% win rate pf .21 -4.56% gain risk profile 4,4

overall net pips -42.5 62% win rate pf .49 -16.15% gain

**okay back to my above point. As many of you know I tend to increase risk on pairs that are winning and decrease pairs that are losing. I have decided this is a mistake and I will reevaluate my approach. Robert has always stressed that these pairs were designed to hedge each other. He has stated that when the scalpers take a hit than breakout hunter would pick up the slack. He goes on to say that usd/jpy is used to hedge the other pairs in the scalpers. What I have done was take the winners from last year and increase there risk by as much as 4.5% and take the losers and decrease risk down to 1% Now I am not balanced in my hedge.

and guess what.......

breakout hunter is doing okay and posting a gain of nearly 4% and usdjpy has boasted a gain of .26% while all the other pairs have been net losers to the tune of nearly -21% here is what is wrong and why my account is probably taking a bigger beating than other accounts....

had I kept my breakout hunter at 2% it would have earned almost 8% and had I kept u/j at 2% it would have earned around.5% for a total of around 8.5%

had I kept the other scalpers at 2% over all the loss would have been around -10%

add those two together and I would only be down about -1.5% overall during this drawdown period.

So what do I do? Do I cut risk now on the other pairs that are losing? If I do it will take me twice as long to get back into green pips with those pairs.

Guys/gals take a lesson from me. First off you never stop learning. Second trade these pairs as they are intended. Keep the risk comparable to each other. If certain pairs are doing poorly than rest assured there will be a period when they do well and vice versa for the winners, there will be a time when they will lose.

Again I am forced to realize that my greed an impatience have gotten the better of me becasue 4.5% risk with my leverage is extremely to high! Only thing I can do is reduce risk down to the 2-3% max.

I'm sorry for this long post and I hope some of you can gleam something from my mistakes. Also I can say that Robert was totally correct when he talked to us about hedging and I knew I was out of balance with my risk but now I am suffering the results of not listening to my own logic but rather having stars in my eyes and thinking of all that money I can make by playing around with the risk.

As of now I am going to 2% across the board on my risk.

[Johnnykanoo]

Well smart scalper continues to struggle. I love these ea's and I know they will come around but right now we are in a dreaded drawdown period and it feels relentless. I will continue to keep you guys updated.

[Johnnykanoo]

my account is up 7.8% today finally some green pips!!! What a great day for smartfx

[Johnnykanoo]

smartfx is finally coming around. I feel like the drawdown period is coming to an end. These times happen to the best of ea's but the secret to surviving them is to keep your money management in check.

My accounts are back and climbing!

[Johnnykanoo]

In January......

eur/usd did the best with a gain of 5.27%
usd/jpy did second best with .53%
all others didn't post a profit

so far in February.......

eur/cad 5.36%
eur/gbp 2.15%
usd/jpy .42%
eur/chf .4%
eur/aud -.93%
eur/usd -5.21%

The point is in January e/u picked up the slack so if in Feb. I decided to increase risk or decided not to trade another pair like eur/cad I would lose much more and the pairs would not be balanced. Robert's right you should trade all pairs.

I learned my lesson now I will manage risk across the board.

[Johnnykanoo]

SmartFX Tech is springing back very nicely!

[Johnnykanoo]

Smartfx is doing very nicely and is up 11.75% on very conservative settings. This ea is a strong performer. Jan 2012 has been the only down month so far since I started testing. Overall very stable and steady growth.

It was a smart move for me to adjust all the risk across the board. Now these pairs are "hedging" each other properly and the equity curve is heading north again.