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My current Forex Shocker setup

March 31st, 2010

I’ve been getting some questions about Forex Shocker and which pairs I trade and the settings to go along with them so I thought that I could post them. First of all I use both version 1.1 and version 2.0. I do because they trade different from each other and not during overlapping hours (with default settings).

With 1.1 I trade EURUSD, USDCHF, GBPUSD and EURGBP. I use default settings, but I trade fixed lot sizes. I haven’t tried the Money Management (MM) function in Shocker at all actually, I just prefer fixed lots in all EAs I run. The (conservative) lot sizes used currently for my $2000 account on JadeFX is:

EURUSD: 0.1
USDCHF: 0.1
GBPUSD: 0.05
EURGBP: 0.1

With 2.0 I trade EURUSD, USDCHF and GBPUSD. Default settings here too. Since it is summertime now I use the DST setting in v2.0. Fixed lotsizes of:

EURUSD: 0.2
USDCHF: 0.1
GBPUSD: 0.1

You can calculate the maximum loss in $ with a stoploss of 34 pips (I think it is 30-34 pips depending on pair). If a FS2.0 EURUSD trade would hit the stoploss it would cost about $68, which is 3.4% of the $2000. But it is important to understand that Forex Shocker often opens double trades (the default setting is to allow up to two concurrent trades, you can limit this if you like, but I have found it to perform better with the default setting). This means that you stand to loose double that, which would give about 7%. This is a lot, but with this account I’m willing to risk it, since I use it only for scalping.

Yesterday I bought a second license and will start to trade it on my $7000 account at The Collective FX. I don’t want to take high risks in that account so I probably will use about the same lot sizes there. The biggest risk then would be about 2% if double trades is taken by FS 2.0 in EURUSD. I will demo trade for a while before going live at CFX thou, Forex Shocker is broker sensitive so it is not guaranteed that the pairs I trade at JadeFX is the best at CFX. It’s even a possibility that it isn’t profitable at all, but that is a slim chance I think. I read in Donna’s forum that some people have been getting great results with USDCAD recently, a pair that I even stopped in demo on JadeFX because it was not doing very well.

Forex Shocker costs $129 today but they will hike it to $249 tomorrow, so if you’re interested, think about it. I still think it is worth $249, but I would personally hesitate on that kind of money for a product without refund possibility. Additional licenses costs $99 right now but will cost $149 tomorrow.

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