I still playing with Fxtradepro Clone EA with Pallada EA on my demo account. The result is quite good.
Advantages using Fxtradepro EA:
Sometimes Pallada Ea give false signal when market in ranging and Fxtradepro Clone EA done a good job about the false signal. I see many false signal on AUD/USD pair and USD/CAD pair which is not a recommended pair to Pallada.
But there is disadvantages using Fxtradepro EA:
Most of the time, Pallada Ea give good signal on GBP/USD pair and EUR/USD pair. So after open position the open order straight to Target Profit.
And when using Fxtradepro EA which is martingale EA, 1st level is 0,01 lot (smallest) lot. So the result are many TP hit on 1st level using Fxtradepro EA on Pallada System. So the return percentage is small, considering using Martingale EA must have a quite big balance or equity.
So far Pallada EA plus Fxtradepro EA give return about 4% since I tested on 12 May 2008 until 27 May 2008. Maximal DD so far is $7.72 (1,52%)
You can read Bobby comment on previous post in Fxtradepro EA and Pallada EA labels about how he makes money using Pallada EA.
You can view Pallada result on their official website "Pallada 3.0 EA"
This is my forward test statement graphic using combination Fxtradepro EA and Pallada EA since 12 May 2008.
You can download forward test statement dated 27 May 2008
Wednesday, May 28, 2008
Pallada EA plus Fxtradepro EA
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20 comments:
duyduy,
I asked this before in the previous post, but here we go... Anything I should know about how to trigger Clone EA with Pallada? Thank you for any feedback.
Hi subkey,
Just load the Pallada full template.
Wait until all indicators confirm blue or red, and then on the next opening bar I attach Fxtradepro Clone EA.
I don't use the trend power indicators because it use for exit only.
Hope it helps.
So you are attaching/de-attaching the
Clone EA according to Pallada signals? This sounds a like a lot of work unless i understood wrong (likely) can I just enable/disable Clone EA in sync with Pallada alerts?
You are right subkey, I attach and deattach according to signal.
About the alerts. Do u mean alert in Pallada commentator or alert sound?
You should know, there are many alert sound, VQI and BBands give alert sound not in the same time. So which one u follow?
DuyDuy, Attaching and unattaching the EA is more work that you need to do. SImply set the system to email you when the Bband are violated. Only follow this alert since it is the best one. When you get this alert make sure ALL indicators are SOLID BLUE OR RED. This is important and will keep you out of many bad trades. When you enter if you want a conservative exit then exit when the VQI changes color and you will reap the most pips. Beware this takes disipline so I suggest you book some profit and 20 to 30/35 pips to FUND your stop and then let the rest go to the end of the US session or until the BBand alert comes or the VQI signals trend change. I still say you are diluting the power of the system by not following it the way it was meant to be followed. Use the pairs recommended (EU, GU, UC, UJ, EJ, and CJ) and only take the trades as the bband signal indicates. This will cause more trades but you will get more pips if you simply take those trades and not the extra pairs you are using (AU and CAD). If you only traded the majors EU, UC, and UJ you will find that they move in the same direction (USDCHF and UJ) or opposite direction (EU vs. UJ and USDCHF). You get more bang for your buck that way. Look at yesterdays trades. If you only traded these pairs this was easily over 200 pips if you just FOLLOW the system and it is intended to be traded. What EA on this site made 200 pips in one day? I suggest we start a group to teach people how to trade this thing properly. I am eager to speak with you duyduy. How can I contact you?
Hi Bobby, I want to talk to u too.
U r member of WSS too right?
What is your nick? I'll PM you in WSS Forum my yahoo massenger id.
My nick in WSS Forum is same duyduy
About recommended pair the last one is EJ and CJ. EJ is EUR/JPY and CJ is CHF/JPY?
Yes this is correct duyduy. I do not go to Wss to much any more but because I find that it does work but really it is not the most effective way to trade. I would like you to look at the trades today and for the rest of this week for the pairs I mentioned. If you look at them you will see that the number of entry signals is small per pair and the success rate is high because anything over 20 pips the system will bank 40% of the trade. I think you are complicating the system and killing it with the EA you are using. Pallada was designed to give 1-2 entries per day and be 70 to 80% correct according to the author. If you look at EU this week Pallada gave 5 signals with one loss. it did the same for each UC and for UJ it gave 5 signals with 2 small losses of 5-10 pips each. I consider a win anything over 20 pips including spread. So for 15 trades it was 73% correct. The losses came from the fact that Monday was a holiday in the USA. Even if you only took 30 pips on each of those trades you would be over 300 pips for the week. This is much more effective than any EA you are testing on this site. Do you agree? Prove it to yourself. Check the charts. Is there another way we can contact each other. I am also on the dxtrade board under RxPipdaddy. PM me there.
Bobby,
What an awesome post for me :) I am trading Pallada on 3 different accounts (1 x $5Kk, 2 x $1K) and your input about when to open/close is greatly appreciated. I will try your strategy and report back on results. Also, count me in for the group, I ma very interested in anything related to this great system. Thank you both!
First subkey remember this when you get the signal WAIT UNTIL THE BAR CLOSES. This is very important. Second VERIFY that all colors are SOLID BLUE or SOLID RED. If the bar for example is tomato red or dodge blue this is not an entry bar. That is indication of flat market (see manual). Remember of you do not get a solid entry signal in 4 bars (2 hours) then PASS on the trade.
Excerpt from manual
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Note. Signals (codirection of indicators) should be formed during 1-3 bars, if enter signal is generated after 4 or more bars – NOT TO TRADE
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Also for aiding in visual help please change the trend power indicator color from GREEN to BLUE ( i will explain why in later post). USE only the majors GU, EU, UJ and UC, however to start just use EU or UC to get the feel of the program. Remember if you use the EA it must be done on a chart WITHOUT the indicators for EACH pair. If you manage your stop manually then please FUND your stop at 20 to 30 pips on these pairs (meaning close 40 to 60% of the trade). I contacted the author personally about how he gets the large profits and he gave me GREAT info. I will share with the group but I need to speak with duyduy first. I also have a great collection of emails from them that will clear up most if not all questions users will have.
Many have problems setting up email for MT4 I will see if i can put something together to assist with this. The signals come to my cell phone so I do not have to always be at the computer.
Now lastly and I know this will be hard for many but here is a IMPORTANT key...
LOSSES
Trade with an amount that will not hurt you if you hit a stop. The author recommends 500 for ONE mini lot and 5000 for ONE STANDARD lot. This is a 7% risk per trade (35 pips). Now I suggest 5000 for 1/2 the .5 lot to bring your risk down to 175 dollars per trade. You will only have 1-2 trades per day per pair and you need to take all of them. So do not over leverage. You need to get a feel for how the system works so it is better to EARN while you learn. This system is 70% correct so money management is important and it is important that you learn to filter the false signals. They are few and far between but they come ESPECIALLY today on EU. Even I was not careful and got bit by a false signal today on EU, however the system gave 2 other good trades so it was not a bad day on EU.
Bobby,
Thank you again for a great post. I am learning a lot. Keep it coming...
Bobby,
Thanks for your insight on Pallada. I think we are all looking for anything else we can learn from you. I purchased Pallada last week and started trading at Monday Asia open. Have made 77 pips so far today on 1 GBP/USD trade and 2 EUR/USD trades using the included E-smart EA. Count me in on anything we can do to make this system even better.
Hi Bobby and deacon,
I have also purchased Pallada and am testing it whenever I can as I also have to work full time. I see that it is good to really keep an eye on it because there are many false signals as well as good ones and I have got some feedback from the originators about some of the changes they made and the need to update the manual because they told me that some of their rules they have don't apply for Version 3 and the manual is not clear on some areas.
For example, when all the signals align, do you enter the trade immediately even though the colors may change a few seconds after? They told me yes, but their English is also a bit confusing so I wanted to see if this is what you are doing as well. They also sent me a great information on when to exit when trading manually which I can share after I get an answer clarifying some questions I had. It would be good to share our findings and find the best settings and strategies to use this EA.
Hi, bobby/RxPipdaddy and all, I'm a 2 year trader on Forex, just bought Pallada a few days ago and the explanations in the manual are not clear. I also chat and trade with a fellow trader since over a year, he is a great trader, he also purchased Pallada and we see great ideas here but still many good unanswwered questions or trade discretions to be considered. I would like to build a serious Pallada chatroom so we could all share tips, clues, and a more solid trading strategy that could standardize/blend all together. Please email me and let me know who is who in the email and I will build it fast so we can enjoy asap all the grat knowledge I see here. BigMike. palmier66 @ hotmail.com
Hi anonymous, Two days ago Bobby said to me that he gonna out of town for several days. I'll tell him about your great plan. Hope after he gets back, Bobby will contact u.
Hi all,
I have created a chatroom for Pallada so we can all share together the best ways to trade this great system. Thank you for joining. Just click on the link, choose a nickname, the password is forex, click Enter Room, click join at the bottom of page. BigMike
Hi again, forgot to post the link !!! Here it is:
http://www.chatzy.com/851991644125
Cheers,
BigMike
thanks duyduy, I was the anonymous, I did not know how to post lolll, so now I'm BigMike and posted the chatroom for Pallada users. I sent an email to the Pallada team and asked to promote the chatroom so great ideas can maximize that great system. Waiting for an answer. By the way it's all free. Here's the link again: http://www.chatzy.com/851991644125 Choose a nick, room password is forex, click on enter room, click on join at the bottom of page. Cheers, BigMike
Thanks Big Mike, I post the chat room in Sticky post. So everybody won't missed it.
Hi there, anybody is still in this thread? I'm looking for the "Bobby Method", could someone please kindly send me the method to ev_dream@yahoo.com? Thank you very much..
Hi Eric,
Actuallty I'm testing Pallada 5 EA for Metatrader 5, I will post the result maybe next week
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