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Urgent question
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Author:  tonnyy [ Wed Jul 17, 2013 8:15 am ]
Post subject:  Urgent question
Hello all,

I was using one robot as follows:

It is doing well on...
0.05 lots - Risk level 60% - maximum draw down seen was 2/3 of balance on 1:500 leverage.

I want to set this up for a higher leverage of 1:2000 leverage. How should I then tweak the above values so that the draw down remains the same at around 2/3 of balance. I am a bit confused and do not want to blow my account overnight.

Thanks

TL
Author:  phil_trade [ Wed Jul 17, 2013 8:23 am ]
Post subject:  Re: Urgent question
tonnyy wrote:Hello all,

I was using one robot as follows:

It is doing well on...
0.05 lots - Risk level 60% - maximum draw down seen was 2/3 of balance on 1:500 leverage.

I want to set this up for a higher leverage of 1:2000 leverage. How should I then tweak the above values so that the draw down remains the same at around 2/3 of balance. I am a bit confused and do not want to blow my account overnight.

Thanks

TL
if you update your leverage from 1:500 (which is HIGH) to 1:2000 (which is VERY VERY HIGH) you will increase your drawdown one day or another ! 0.05 lots = risk level 60% !!!!

My first advise would be : don't touch your live account and do some test with DEMO account before.

My second would be : decrease your risk !

cheers

Philippe
Author:  SteveHopwood [ Wed Jul 17, 2013 8:39 am ]
Post subject:  Re: Urgent question
I second, third and fourth Philippe's reply.

Mind, if you manage to find a broker who will offer you 1:2000 leverage on a live account, then run a mile in the opposite direction. The only reason for offering this level of leverage is; the broker is a crook who is out to steal your money.

:D
Author:  tonnyy [ Wed Jul 17, 2013 8:50 am ]
Post subject:  Re: Urgent question
:(

adding funds to the existing thing should do the trick then....
Author:  SteveHopwood [ Wed Jul 17, 2013 9:47 am ]
Post subject:  Re: Urgent question
tonnyy wrote::(

adding funds to the existing thing should do the trick then....
Listen up, dimwit. It is entirely up to you whether you take any notice of the invaluable advice offered here. You can ignore it if you want and blow your account. When you have done so, you will perhaps change your attitude.

Only a moron would do what you propose in post 1.
Author:  phil_trade [ Wed Jul 17, 2013 10:03 am ]
Post subject:  Re: Urgent question
tonnyy wrote::(

adding funds to the existing thing should do the trick then....
did you explain correctly your situation ?

Are you in big loss and trying to find a solution to avoid to blow up your account ?

if yes, think about taking some loss... and tomorrow decrease your risk exposure...
maximum draw down seen was 2/3 of balance
What is it fun with the forex, it is that sooner or later we see worse than planned :lol:
Author:  tonnyy [ Fri Jul 19, 2013 10:34 am ]
Post subject:  Re: Urgent question
... Okay leaving aside the 1:2000 leverage.
.
.
.
Regarding the 1:500 one...
Other than these settings:
0.05 lots - Risk level 60% - maximum draw down seen was 2/3 of balance on 1:500 leverage.

There is one more important setting of lotExponent which is set at 1.2.

Now when I am adding funds to this account it does not seem to utilize it and continues as previous and so the fund adding becomes useless, unless I think I raise the "lot size" and "lotexponent" correspondingly. So, what wound be the best setting for them. I know it's mathematics, but I just don't know the formula :))
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