Jack... The advanced version has more parameters to adjust, like Trailing Stop, money management, etc. A few other settings are changed to optimize it for 5 min charts. It doesn't appear that the basic engine is different, just more parameters and focused on 5 min chart settings.
Iceman... The manual for the Advanced version suggests 26 as the Take Profit, vs 30 for the regular version. Just curious - what prompted you to use 50? Did you change any other settings? Are you trading any other pairs vs what was recommended? I've had great success on my demo account with EUR/JPY and GBP/JPY.
No not for religious reasons (lol)
A lot of data comes out on fridays which can affect the forex market, check a forex calender for up and coming anouncements, first friday in the month has the NFP Non Farm Payroll data for the US, in other words the unemployment figures.
Anouncements like this tend to make the currency pairs move quite violently, so best not to trade at certain times.
Regards
Iceman1
A lot of data comes out on fridays which can affect the forex market, check a forex calender for up and coming anouncements, first friday in the month has the NFP Non Farm Payroll data for the US, in other words the unemployment figures.
Anouncements like this tend to make the currency pairs move quite violently, so best not to trade at certain times.
Regards
Iceman1
Hi Iceman,
I have the standard version of Mastro and many others here. It sounds like the Advanced version only has some changed setting. It would be great if you could post the these.
Cheers
Smokey22
OK fair comment it was worth a try...
I have tried different brokers and different time setting and still have not seen this thing working, I think the next step is to remove maestro from my computer and start over again.
Smokey22
Hi Smokey
Yes you are right the manual does say take profit @ 26, so I thought perhaps I had changed this by mistake, so what I did I deleted the advanced maestro and re-installed it with the default settings and sure enough it is set to take profit at 50.
Are you using the Avanced or Standard version and if so can you check the settings and let me know.
Cheers
Iceman1
Yes you are right the manual does say take profit @ 26, so I thought perhaps I had changed this by mistake, so what I did I deleted the advanced maestro and re-installed it with the default settings and sure enough it is set to take profit at 50.
Are you using the Avanced or Standard version and if so can you check the settings and let me know.
Cheers
Iceman1
Hi Iceman,
I am using the standard version take profit @ 26 on the screen shot in the manual its take profit @ 30 There is 2 setting, I dont know if that was just a type'o mistake in the manual.
Cheers
Smokey22
Hi Smokey
You may want to look at Page 4 article 31 on this thread about Firebird, it will take you to Forex tsd, It looks after looking at the code it could be the same as Maestro, but since maestro is encoded it is hard to tell for sure, but from what I have seen and read it looks the same.
Cheers
Iceman1
You may want to look at Page 4 article 31 on this thread about Firebird, it will take you to Forex tsd, It looks after looking at the code it could be the same as Maestro, but since maestro is encoded it is hard to tell for sure, but from what I have seen and read it looks the same.
Cheers
Iceman1
Yes there is a mistake in the manual, Dont trade friday - I always find that funny as Australia time is 15 hours ahead of USA time. It's Saturday hear when you guys are just catching up
When you install Advanced Maestro and open the EA, it has TP = 50, but in the manual, he gives very specific settings, eg: TP = 26, and then he says that these settings are optimized for 5 Min charts, even though he says you can use Maestro on 5-15-30 min charts. So I took that to mean this was one of the advantages of the Advanced version, ie: he is giving his optimized settings for a specific time frame.
Hello traders, I'm running original Forex Maestro and advanced at the same time in 3 different broker demo accounts, starting with $10,000. usd. I left defaults; mine has trade on friday 1, which traded on Friday for me, contrary to what some of you reported. I didn't see an indication in manual not to trade friday, but lost ~ 8% in each account on Friday.
1 account made 24.43%, another made 10.1%, 3rd account lost $18, for -.2%. End of Thursday, accounts were up 33%, 18%, 8%, or ~ $6000 usd on $30,000. Ended with ~ $3400, with 41 trades open: 16, 14, 11 respectively.
Out of the closed trades, 1 14 pip failure out of 52 trades, 2 failures out of 31 trades on another for -299 and -23 pips(72 hour stop trade), 3rd account had 3 failures out of 53 trades, 175 pip loss, 120 pip loss, 46 pip loss. 95.6% on closed trades, awaiting results on 41 open trades. They will start trading Sunday night. Results will determine whether I continue trading Friday, but it looks like I should close the open trades thursday night. The account with 31 trades had 1:100 leverage, other 2 accounts had 1:200 leverage.
Original Maestro traded .1 lot, advanced traded .5 lots with money management parameter on. Sometimes trade .6, sometimes .4 lots.
1 account made 24.43%, another made 10.1%, 3rd account lost $18, for -.2%. End of Thursday, accounts were up 33%, 18%, 8%, or ~ $6000 usd on $30,000. Ended with ~ $3400, with 41 trades open: 16, 14, 11 respectively.
Out of the closed trades, 1 14 pip failure out of 52 trades, 2 failures out of 31 trades on another for -299 and -23 pips(72 hour stop trade), 3rd account had 3 failures out of 53 trades, 175 pip loss, 120 pip loss, 46 pip loss. 95.6% on closed trades, awaiting results on 41 open trades. They will start trading Sunday night. Results will determine whether I continue trading Friday, but it looks like I should close the open trades thursday night. The account with 31 trades had 1:100 leverage, other 2 accounts had 1:200 leverage.
Original Maestro traded .1 lot, advanced traded .5 lots with money management parameter on. Sometimes trade .6, sometimes .4 lots.
Skycap... Which pairs had the best results? In my testing - 8 days since it was released, some with the original and last week with Advanced - I tried some other pairs, ie: EUR/JPY - 14 wins, 0 loss, GBP/JPY - 13 wins, 1 loss, EUR/GBP - 13 wins, 0 loss, USD/CHF - 15 wins, 0 loss, USD/CAD had more losses than the others, so I'm not trading it. EUR/USD was also not so good. I'm only doing 1 trade at a time, so I set my PIP Step to 255.
Ronika,
Glad you asked that....usdcad was by far the worst, accounting for 75% of the open trades drawdown. Eurgbp was 2nd worst. Eurusd only had 1 loss for 14 pips in same account in 6 days of trading.
I only did a couple trades with usdjpy, successfully. I'll drop usdcad this week, will be wary of eurgbp, and will explore other pairs. The examples shown on the website for Maestro uses other pairs for great success.
Of course, it would be nice if Mike Johnson would answer his e-mail. He shows a 753 pip
gain for $45,000 on the site for gbpusd . Guess he was using an 800 pip TP with a trailing stop!
Glad you asked that....usdcad was by far the worst, accounting for 75% of the open trades drawdown. Eurgbp was 2nd worst. Eurusd only had 1 loss for 14 pips in same account in 6 days of trading.
I only did a couple trades with usdjpy, successfully. I'll drop usdcad this week, will be wary of eurgbp, and will explore other pairs. The examples shown on the website for Maestro uses other pairs for great success.
Of course, it would be nice if Mike Johnson would answer his e-mail. He shows a 753 pip
gain for $45,000 on the site for gbpusd . Guess he was using an 800 pip TP with a trailing stop!
Hi Guys,
Good to see you are having some success with Maestro.
Has anyone received a response from Mike Johnson?
Not forgetting his web site of great customer service.
Smokey22
wiseman168
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Hi Guys.
I have emailed support 4 times now , no reply , which dose not install much confidence ! I traded all four recomended pair last week on live account. I traded on 5 min time frame and I found the eur/gbp worst by far. The other pairs all seemed to work well. All on default settings.
stuart
I have emailed support 4 times now , no reply , which dose not install much confidence ! I traded all four recomended pair last week on live account. I traded on 5 min time frame and I found the eur/gbp worst by far. The other pairs all seemed to work well. All on default settings.
stuart
