Dear PointBreak customer:
Please subcribe to PointBreak Users group (special NEW mailing list for PointBreak customer).
Please subcribe to PointBreak Users group (special NEW mailing list for PointBreak customer).
Some of you just start using PointBreak EA this week, some has been using more than a month or two; and I know most of your concern is about drawdown when your positions against the trends.
Most of you do not know what should you do when the drawdown become large:
- Should you stop the cycle or should you make some adjustment by closing some positions ?
First, I will explain that all expert advisors use technical indicator as the main indicator, including PointBreak EA.
The disadvantage of technical indicator is the EA will be useless againts sudden fundamental or important news that cause the trends against our positions.
Jan 23 is one of the examples where Pointbreak EA has detected temporary downtrend before cut rate decision.
My trial since Dec 2008 has not show that drawdown because my M1 positions has closed before the cut rate decision as you see below:http://www.forexhope.com/trading_report.htm
With sudden cut rate decision that big on Jan 23, 2008, USD become very weak causing some of you who still left open with M1 position become drawdown.
And you do not what you do when there is a big important news that do not support your positions.
PointBreak EA work best when the trend support your larger positions; it means when your larger position is sell, Pointbreak EA will no problem with downtrend,
but cause a problem with uptrend.
Second, the important key of using PointBreak is reservation of your capital; that's why I always encourage to use the minimum risk setting or demo account until you really undertand how PointBreak EA works, until you understand what is the different between each cycle, etc.
Usually what I do when the trend do not support my current positions:
1. Wait until the EA solve the problem, or
2 Do manual MSP (Moving Starting Point), by closed positions against trends/news and add positions that support the trend/news.
I still believe PointBreak has the most consistent Expert Advisors out there but you need to know the disadvantage and the advantage of PointBreak EA.
You need to know how to use PointBreak EA correctly; I use it to manage my clients funds.
Next month I will open a new service for PointBreak EA customer: live chat room to discuss PointBreak EA and the currency market.
The live chat room will be free for all PointBreak customer.
I will prefer we gather at chat room when there is important news like: cut rate decision, non farm payroll, etc.
Then we can discuss what should we do with the current PointBreak positions. I will give some tutorial about how to manual MSP.
I will run seminar this February so I will busy until the end of February; after that we can start the live chat room.
Until then please subscribe to PointBreak special Mailing list below, so I can send you some important news/updates/upgrades on PointBreak EA or early warning about the currency market, etc.
It's important you joined the PointBreak EA mailing list.
We all in a quest finding the most consistent and profitable expert advisors.
Sincerely,
Yohanes R. Gagahlin
http://fxhope.com/
We all in a quest finding the most consistent and profitable expert advisors.
Sincerely,
Yohanes R. Gagahlin
http://fxhope.com/