Meia4 was one of our robots that came from file and ranks. Having meeting the 2 upgraded parameters well and given the mandate to fight the forex market for real. For a start like every other robot she was given 10,000 cts to trade on liteforex.
What I like about Meia is how equipped she was with good display and the ability to open other pairs while attch to only 1 chart. Obviously she is from Russia as the choice for the display was either English or Russia. The display was nice and have controls too. It come with a complete manual which would have taken time to learn and understand.
Anyway, the doubt in Meia was not that shes not making money but her RPL was always high and negative most of the time. She open (or layering) many trades but that can be control from her input parameters.
Then at last week her -RPL had grown to -4,000cts which is bad considering the equity is just 10k. On the other hand her account had increased to 12k and increase of 2k for 10k account in a short matter of time. Surely thought that she would hit Margin Call anytime. The over the weekend the recovery team suggest to save the situation Meia was in that is to pump more money. Luckily Al Fatih account was not used and we transfered 9,500cts to Meia making here balance to increase to 19,500 cts
Come Monday, and the alarm was again sounded where Meia -RPL had gone to -10k ! Something must be done fast to save the account rather than leaving Meia to handle herself which she could not.
She had open so many trades that then were against the trend due to a significant US news in the morning. So any pairs with USD had gone ballistic in the opposite directions. Her lots are not martingle for sure but plenty basing on distance of trade from one another.
An extraction team was sent in to salvage the trades, no matter what it takes - minimize the losses.
1. The furthest trades from the current price are closed.
2. Any trades that are in profit are closed.
The break came at about 1am when we saw some form of retracing in the pairs. The by rough calculation we thought that we can get out of the situation with some losses which was thought OK. So manually every trade was closed one by one until it was over. Ironically we did not make losses but some small 500k or so profit !
More reports in tomorrow daily progress update. Its not that Meia is hopeless she has her strength all right. But in future when we found the means to control her tendencies, she'll be OK and profitable. As for now give Meia a rest for a while.
Over and Out.
