Support and FAQ TulipFX | Profitable automated trading systems | Kangaroo EA
Everything you wanted to know but were afraid to ask
Below you will find the most Frequently Asked Questions.
If you can’t find your answer, please visit our new forum here.
Registration is free and you can get all your support questions answered there, as well as mingle with other Kangaroo members.
How to use the FAQ: click on the question and the answer will appear.
Frequently Asked Questions (FAQ)
General Questions
(+/-) I am new to Forex, can you help me?
Of course we can, and will. Besides the website, this FAQ, and the extensive user manual you receive along with any EA , we offer continuous (almost 24/7) support.
(+/-) How much trading capital do I need?
Depending on your broker terms, you can start trading with as little as $100. Remember that starting out with low trading capital may put you at disadvantage because you will only be able to trade the market in small share sizes (called lots). We recommend that you start with capital of $1,000-5,000 USD or train on a Demo account until you are satisfied with the performance prior to moving towards a live account.
(+/-) If many people trade with the same EA, can that affect the robot’s accuracy and profitability?
Lots of people still don’t realize just how huge the Forex market actually is – it’s the largest market in the world. It’s larger than ALL the stock, bond and futures markets in the world COMBINED! It’s estimated that every single day, something in the order of $4 TRILLION are traded in the Forex market. It’s extremely liquid, volatile and trades 5 days a week, 24 hours per day.
Effectively, the market is so huge that there’s room for everyone, and we mean EVERYONE! There could be 1,000 people or more trading with the same EA and it wouldn’t affect its efficiency and accuracy in the slightest.
(+/-) Can I get a demo or trial version for one of your Experts Advisors?
(+/-) What are the monthly fees? Can I cancel or restart my subscription any time?
We instated the monthly membership model for two reasons. First, we wanted to give you as much freedom as possible without making large investments. If you wanted to purchase our EAs in one payment, you’d need deep pockets. With the monthy membership structure, you “pay as you earn”, which we consider fair. Moreover, for all our current paying members we provide continuous service, updates, Trade Alert emails and other benefits, so it keeps us on our toes as well, ensuring to provide you with the best and the latest.
If you cancel your subscription, your EA will stop working on both your demo and live account. You’re free to cancel the subscription whenever you want. Should you want to restart your subscription after you canceled it, please send us an email. We’ll try to give you the same monthly rate, but we can not guarantee this.
(+/-) What are the membership levels?
The Silver Level is free for anyone who wishes to join and receive our newsletter, discount offers, downloads and comment on posts. The Gold Level membership is for those who purchased at least one of our Expert Advisors and pay the monthly fee.
Questions about Expert Advisors
(+/-) What is an Expert Advisor (EA)?
An Expert Advisor is a software program based on a trading algorithm which allow you to automate all trading processes on the Metatrader platform. Simply put: an EA is a robot which trades for you, fully automatic and non-stop. An EA has no emotions and does not know fear or greed. It trades the exact way it was designed to do. Please do not that our Expert Advisors only work on the MetaTrader4 trading platform. MT5 versions will become available soon.
(+/-) Do I have to monitor any trades? Is it difficult to setup?
No, this is hands-off trading…no manual intervention or monitoring your charts is required. All you need to do is setup the automated trading robots (expert advisors) and let them trade on your account automatic 24/7. The installation package we provide you with will get you up and running in less than 5 minutes.
(+/-) Does EA work when my computer is turned off?
No, in order for all Expert AdisorsEA to run properly, your Metatrader4 platform needs to be turned on and connected to your broker. All our Expert Advisors require a constant connection to your broker when markets are open (5,5 days per week), so they can continuously receive and analyze price data and make trading decisions.
(+/-) Will this work on my broker?
Most likely, the answer is yes. All our Expert Advisors have tested on several different brokers. We have coded our EAs in such a way that they will automatically adjust to your broker’s requirements. So whether your broker is STP, DD or ECN; fixed or variable spread; or uses 4 or 5 digit pricing: the EA will adjust automatically.
Just make sure your broker accepts & allows the use of Expert Advisors. For instance, make sure that order modifications are allowed for multiple orders. As an example, Exness will delay order modification for more than one order at a time. This will impact results. We do not recommend using such broker.
Also, please ensure your broker allows time expiration for pending orders. For instance, MB Trading will not expire the open pending orders and this will keep them open and may result in losses that were not intended. Although we’ve added additional checks to ensure limit orders are indeed closed when needed, we do not recommend using “highly customized” metatrader platforms such as MB Trading.
Finally, we’ve seen mixed results with spread betting brokers. Some have their MT4 configured correctly, whereas some did not (pip value for AUDUSD was 0.0001 on one of the brokers). Please always run Kangaroo on demo first to notice any potential issues.
(+/-) I have not had trades all week, is something wrong?
Probably not. KangarooEA selects only those trades that are defined as high probability trades. When markets are not showing any clear direction, Kangaroo will not enter trades.
We believe (and this is supported by our backtests and analyses) that it’s better to protect your capital than to take a chance and hit a stoploss. Please review our backtests and you’ll see that there are times of lots of trading activity and times when Kangaroo scans market for right setups.
You can track our trades on these pages (demo and live), tracked on http://www.myfxbook.com:
http://www.myfxbook.com/members/TulipFX/kangarooea/56195
http://www.myfxbook.com/members/TulipFX/kangarooea-small-live-c/68427
Sometimes due to the nature of EAs and brokers having different price feeds the KangarooEA will take trades on one broker, but perhaps not on another. We have found that over time these differences tend to even themselves out on reputable brokers.
Different brokers can have different price feeds. As you are aware EAs take action on arbitrary rules with no degree of discretion when opening trades. So if a value is even ever so slightly missing the level for a trade, that trade will not be taken. We have found over the course of time that these trades even themselves out between the reputable brokers; so yes, it is normal for that to occur. As a rule of thumb: On average KangarooEA will take 1-2 series of trades each week.
If you see alot of differences between our accounts and your own, please mail us with your broker information and send along any log files so we can advise you promptly.
Remember: Successful EA trading is not about how many times an EA trades, it’s really all about (longer term) profitability and consistency…!
(+/-) What are the best Forex brokers to use for your EAs?
Our Expert Advisors can be used with any broker that uses the Metatrader4 trading platform. Some of the most common Metatrader4 brokers are: InterbankFX, Alpari, FXDD, FXCM, Forexmeta. If there are any doubts, then the support desk of your broker will be able to confirm if they use Metatrader4 or not. Just pick a reliable broker, preferably certified and low spreads.
(+/-) Do I need a VPS server for running EA?
We recommended to use a VPS (Virtual Private Server) for running your EAs, but if your internet connection is stable and you are able to monitor your computer on a regular basis, you can consider running EAs from your own computer without VPS.
(+/-) How long will the EA work on my account?
When you purchase one of our EAs, you will automatically become a Gold Level member and pay a monthly fee for using the EA. The monthly fee will guarantee you of support and new updates, as well as new settings, special offers and other things. If you cancel your monthly payment, the EA will stop working on both your demo account and your live account.
(+/-) How many accounts I can use the EA on?
Each EA will allow you to use it on one demo account and one live account. You can always change accounts by re-authenticating the EA for a different account number. If you wish to change your demo or live account number for your Expert Advisor, please visit our forum and log in. If you have not registered yet, please register with the same email address you used when you made the Kangaroo purchase. You will be automatically upgraded to Gold member and have access to the account change tool. Note that when you change account numbers, the EA will stop working on the old account number.
(+/-) How can I change the account numbers for the EA?
Each EA will allow you to use it on one demo account and one live account. You can always change accounts by re-authenticating the EA for a different account number. If you wish to change your demo or live account number for your Expert Advisor, please visit our forum and log in. If you have not registered yet, please register with the same email address you used when you made the Kangaroo purchase. You will be automatically upgraded to Gold member and have access to the account change tool. Note that when you change account numbers, the EA will stop working on the old account number.
(+/-) Can I run your EAs with other ones I have?
Yes you can. Just ensure that all EAs have different magic numbers and our EAs will happily trade with any other EAs you have. Remember when running multiple EAs on one account, you must consider your total risk exposure. We have written more about risk exposure on our blog here: www.blog.tulipfx.com/total-risk-exposure. As always, test running several EAs on the same account first on a demo account before trading on a live account to make sure they work together and your risk exposure is within your limits.
(+/-) Do you provide updates for your EAs?
Yes, all current active members (Gold Level) will receive updates to the EAs they have purchased, as well as Trade Alerts, new settings and other goodies. To get the latest news or download the latest version, please visit our forum and log in. If you have not registered yet, please register with the same email address you used when you made the Kangaroo purchase. You will be automatically upgraded to Gold member.
(+/-) I just purchased KangarooEA, but where’s the download link?
To download the latest version of KangarooEA, please visit our forum and log in. If you have not registered yet, please register with the same email address you used when you made the Kangaroo purchase. You will be automatically upgraded to Gold member and will have access to the Gold member section where you can download your copy.
[/ismember]
Register on our Support Forum
Hi,
I was wondering what the 30 euro per month fee is for?
It’s answered in the FAQ, but will post the answer here as well:
We instated the monthly membership model for two reasons. First, we wanted to give you as much freedom as possible without making large investments. If you wanted to purchase our EAs in one payment, you’d need deep pockets. With the monthly membership structure, you “pay as you earn”, and we consider this a fair deal. Moreover, for all our current paying members we provide continuous service, updates, Trade Alert emails and other benefits, so it keeps us on our toes as well, ensuring to provide you with the best and the latest.
Usually EAs are sold on a one off payment, but in the longer term these EAs prove not to be profitable. By spreading the cost of an EA over time, it protects you from risking a large amount of money on an automated system which may not work long term. Also it shows our confidence in the long term profitability of our robot: rather than asking for a large upfront fee we have tied the fee to ongoing success.
Now Jason, if you wanted to purchase the EA without any membership fees, it is possible. The cost of the Kangaroo EA would then be 1227 EUR, and you would have a lifetime membership included in the price, ensuring you of regular free updates etc. Please do contact us if you’re interested.
Is the EA specific to the A/U pair?
Hi William,
At the moment KangarooEA is specific to the AUDUSD pair. We hope to investigate variable and news avoidance settings and see if we can obtain good results on other pairs. Because of the heavy mathematical equations and news avoidance algorithm testing research takes quite a while. After we settle from the hard work getting KangarooEA launched we will turn our attention to this and some other exciting research we are currently having difficulty finding time for.
As you are a member any news regarding our EA developments we will let you know about via e-mail.
Thanks, Aussie.
Thank you for your reply.
If I make a pre-release purchase, will I be billed for the monthly payment immediately, before the EA is released?
Thanks.
Hi again William,
While there are some graphic banners floating around the page currently, they do not lead to a sales page as yet; and will not until we release the EA.
When you are able to make a payment you will immediately get the EA and the ability to run it straight away. Monthly subscription (and all payments) are handled through the well regarded online payment system belonging to Plimus. They will bill you one month after your initial purchase for your first subscription, and ongoing after that.
We will only accept payments once the EA is ready for you to immediately use. Subscription payments begin one month following your initial purchase.
I will mention that the launch price is a special. A short while after launch the price of KangarooEA will rise to EUR149.
Thanks,
Aussie
Thanks again for your prompt and detailed reply.
Could you open up the Open Positions in your Myfxbook link so that we can see the floating profit or open DD? A closed DD of 5% is great but how much of one’s equity does this EA need in order to play? This is especially important to those limited by the new USA leverage limits.
Thanks
Hi Dave,
Thanks for the questions.
Firstly let me address the USA broker laws. The new NFA rules which limits your trading options regarding hedging might cause a conflict with the way KangarooEA trades. Kangaroo utilizes a complicated money management system which at times may have both long and short positions open. Although Kangaroo is not designed as a hedging EA, this might occur from time to time when certain market situations arise.
Some NFA brokers can use the KangarooEA ‘as is’. FXDD, FXCM and ATC Brokers all use a backend compliance system to deal with the NFA broker regulations. That means that on your MT4 terminal you can have concurrent long and short trades (so “hedging” in effect). In their backend, they deal with the non-hedging rules by balancing your account in only one direction to reflect the overall position on a currency.
For example. On FXDD, FXCM or ATC if you have 3 long positions open on AUDUSD then take a short position, your MT4 platform will show 3 long trades and 1 short trade – just like before the NFA restrictions. In the broker’s backend management of your account however, they will have your positions as 3 long minus 1 short = 2 long positions. So while you see the trades traditionally how they would appear in your MT4 platform, in the backend they have automatically complied with the NFA regulations for you.
After release – if you want to trade the KangarooEA the way it was designed you will need to use FXDD, FXCM or ATC (or any other broker which complies using backend systems), but this is ONLY needed if you are a resident of the United States.
We are considering to release a NFA compliant version as well, but this version will be less profitable as the original design. We’ll keep everyone up to date on this development.
Regarding your question about open trades: we’ve decided to keep them set to private as a security measure so that the system cannot be mimicked/copied/etc. However, to get an idea on current margin use or floating drawdown, you can do the following. On MyFXbook top left (next to large graph), notice the account equity and the % of total. The closer this number is to 100%, the less open margin/floating negative DD.
If you plan to use KangarooEA as the only EA on an account, then the 50:1 leverage will not be an issue on the standard money management settings. Even running Kangaroo on the highest recommended risk settings, the largest possible drawdown is approximatively 20%. On this maximum recommended setting, with 50:1 leverage and maximum drawdown the KangarooEA would not use all the account’s leverage. We estimate at the very maximum the leverage used would be 70-80% of account balance.
I trust this has answered your questions and like I said, we will be keeping people informed about NFA hedging compliance in a next release. In the meantime investigate how your broker, and brokers available to you comply with the NFA regulation. We recommend FXDD, FXCM and ATC brokers for those traders who need to comply with NFA restrictions. If there are other American brokers which use the same methods, please let us know so we can add them to the list.
Happy trading
Ozzie.
I bought your EA and intend to trade it with some other EAs. I would love a feature which would look at the open drawdown and than decide not to trade or trade with smaller lotsizes.
This way multiple EAs can run and I can avoid some kind of worst case scenario. I think it would make a great standard feature of any EA that you develop. This way your users can run more EAs and feel safe.
Dutchie married to an Ozzie
The KangarooEA calculates the lotsize on account equity so will trade with smaller lot sizes should your account be in draw-down due to other EAs.
Here are my questions about Kangaroo EA .(I don’t purchase it yet)
1.Can I trade on fixed lots size?
2.Can I select number of open positions to have at one time?
3.Does this EA stop running when spread is too wide?
4.Does this EA close positions at the end of the week?
Hi Nobumasa,
To answer your questions in order:
1. Yes. You can trade with money management or your own lot size. We recommend using the money management settings to prevent accidental over-leveraging of your account.
2. Yes, you can select how many positions you can have open at one time. We strongly suggest not changing this value however.
3. Yes, you can enter the spread at which the EA will not trade if the broker increase the spread too wide.
4. The KangarooEA finishes trading at 24:00 on Thursday, so should not have open trades over the weekend.
I hope these answers satisfy your questions.
4. The KangarooEA finishes trading at 24:00 on Thursday.
Is that Aussie time?
Nope. This and all other time settings are based on GMT timezone (GMT+0).
Also see manual and your HUD (“GMT” after the time).
Hello,
The EA looks very interesting and I am considering to buy it.
I would like to have the following asnwer which I could not find in the FAQ:
- Can the EA trade Micro lots?
- Which is the Risk reward ratio?
-Which is the maximum SL per trade?
Thank you
Hi Amedeo, thanks for those questions.
Yes, the EA can trade on Mirco lots.
On a single trade the risk reward ratio is 3:1. For the lifetime of a position that can consist of up to 6 trades, it’s very hard to define in the traditional sense.
Using a risk setting configured to 5, it seems a successful position will yield around 1% account increase, while the unsuccessful position can lose anywhere between 3% and 20%.
Additional trades are not entered directly as the market goes against the original position, but at key market points. So it might be that when there’s a loss, it’s a loss of a single trade, or of 6 trades, thus, like I said, a clear risk:reward ration is very hard to define in the traditional sense.
We feel that is the profit factor is a better way to judge the KangarooEA. The tick data backtests have a profit factor close to 3, with the average win about 1.2 times bigger than the average loss and around 70% trades won. We think that’s pretty good.
I only started using Kangaroo (4.1) a few days ago on demo – Jade FX) So far it has missed one entry and has different timings for others allthough each has worked out ok so far (too small a sample to come to any conclusion) Given that there are similar differences between your forward test and live, is this unusual or to be expected as long as the behaviour doesn’t materially detract from performance over a longer period
Ian, as minute differences between broker price feeds exist, this might affect the decision process for KangarooEA to take a trade or not. Even one pip difference at a critial point might influence the trigger. It’s the way KangarooEA has been designed: To only take high probability trades. We’ve witnessed different trades on different brokers. We do also note that over a length of time, all this evens out: You might get trades on your broker while ours might have missed it, etc.
I have two live accounts. I want to run Kangaroo on both accounts. I have purchased one license and have it running on one account, but as is stated here you can’t run it on two live accounts. What is the procedure to obtain a second license?
Please contact support and we can help you.
Historically, how many times has Kangaroo EA hit the 20% S/L?
Please refer to our white paper we carefully prepared for those interested in KangarooEA. We have conducted numerous backtests and have found that in the last four years, the full SL has never been hit. We used the most accurate backtesting using actual tick data from Dukascopy. Please download the white paper on the KangarooEA page for more information. Please do realize that backtesting with even a modeling quality of 99% offers no guarantee it won’t hit a full SL going forward. Market conditions might slightly change, etc.
Having said that, we have closely monitored our forward results with these backtests and they are a close match.
Looking forward to seeing some excellent results. I am impressed with the reviews I have seen and the effort in development, as opposed to the impressive marketing effort that i see with almost every other EA ever produced.
Hi Mark Anthony,
Thanks. Yes, we’ve all been lured in by impressive marketing campaigns that paint a brilliant future by using the most fantastic projections and promises.
Often, actually almost always…those promises turned out to be false, and results were quite the opposite of what was advertised, adding to more disappointment and frustration as a trader.
We’ve chosen to take a different route:
1. No fly-by-night outfit. We’re here to stay.
2. We actually know how to trade (most EA sellers have never traded a pip in their lives)
3. Offer EAs that deliver consistent profitable results over time with a heavy emphasis on protection of your funds.
4. No get-rich-quick schemes or overnight millionaire promises (they don’t work, trust me).
5. No hype marketing.
Here’s to consistently making green pips!
Dutch.
Dear admin,
my EA hasn’t entered any trades so far in more than a week. is there sth wrong with my settings or were there no trades?
Thx for ur quick reply
Borut
Borut,
KangarooEA selects only those trades that are defined as high probability trades. When markets are not showing any clear direction, as has been the case this week, Kangaroo will not trade. We believe (and this is supported by our backtests and analyses) that it’s better to protect your capital than to take a chance and hit a stoploss. Please review our backtests and you’ll see that there are times of lots of trading activity and times when Kangaroo scans market for right setups.
You can track our trades on these pages (demo and live), tracked on http://www.myfxbook.com:
http://www.myfxbook.com/members/TulipFX/kangarooea/56195
http://www.myfxbook.com/members/TulipFX/kangarooea-small-live-c/68427
When we release the new Kangaroo version which will also trade on the EURUSD pair, the overall trade frequency will increase.
Remember: Successful EA trading is not about how many times an EA trades, it’s really all about (longer term) profitability and consistency…!
Cheers, Dutch.
Hi, Ozzie and Dutch. I have some questions before I might purchase the Kangaroo EA.
1. Which brokers do you recommend for U.S. citizens? I have demo accounts at Alpari (US), ATC Brokers, and IBFX. I have a tiny live micro account at IBFX. Alpari does not allow any hedging at all — even on the MT4 platform. ATC Brokers charges a USD $8 per standard lot round turn commission. IBFX’s spreads are rather high. So, in terms of brokers, what’s an American supposed to do?
2. Which VPS companies do you recommend to Americans?
3. Would my license permit me to demo Kangaroo on multiple demo accounts with different brokers?
4. Does the monthly subscription fee kick in anytime before one begins live trading?
5. Since your purchase prices are denominated in EUR, for Americans, does the monthly subscription fee fluctuate month to month due to fluctuation of the price of EUR/USD?
Thank you.
Hi Dennis,
Thanks for your inquiries. Let me try to answer them.
1. We don’t really recommend any broker. But as a general guideline, we’ve found that ‘raw’ feeds work best. So look at ECN brokers with spreads on AUDUSD below 3.0. We have just added Kangaroo to a plethora of brokers (all demo accounts) on myfxbook (search for tulipfx), where you can track performance. There’s not that much to see now, I realize that, but might be good for future references.
2. There are plenty of good VPS companies in the US. Seek one that has a location close to the broker of your choice. Once you have a broker, get their IP address, and ask several VPS companies to “ping” the broker server. The ones with the lowest latency are best. Do a google search for VPS forex and you’ll see you have plenty of choice.
3. One license allows you to run Kangaroo on one demo and one live account. We have special discounts for our clients for additional licenses.
4. We have no control over when the license is used on a live account or not, and it would be too complicated to start the monthly subscription the moment the EA is loaded onto a live account. I hope you understand.
5. Yes, since you live in the US, in your case the monthly subscription fee would fluctuate along with the EURUSD….so perhaps wait until the USD gains some strength again…?
Cheers and let us know if there’s anything else we can help you with.
Dutch.
I have just set up the Kangaroo EA manually (VPS won’t allow installer), and I just want to make sure I’ve set it up correctly.
All seems fine on the screen – smiley face, and information box showing authorized account etc
In the experts tab the news is being downloaded hourly. The news filter on the chart is showing ‘News Filter Enabled’ but 0 passing and 0 upcoming. Yet there is high impact news for AUD tonight (about 5 hrs away) – how far should it be looking ahead?
Thanks
Hi Penny,
From your description the KangarooEA seems to be set up correctly. Like you mentioned the best way to know it is operating is to check the experts tab to see if the news file is being downloaded. With that being downloaded you can be fairly certain that the EA is set up correctly.
The news filter does not filter out all red news – only the most important news events. We statistically tested all the news events over the past 4 years to find which ones specifically cause large, trend changing movements. The AUD monetary policy paper were judged to not have a huge impact so they are not filtered. Each news event is treated individually, some such as interest rates might filter for up to 8 hours prior to their announcement – others only a few hours. So there is no standard news filter setting for before or after the news, each is judged individually.
Just bought a subscription to Kangaroo EA. I see there are 3 different risk presets per currency pair. Low, Medium, and High. It looks as though the “low risk” will only trade 1 pair at a time. But what if I would like to trade both pairs but with a low risk on a Micro account? Do I change the Allow_Concurrent_Trades = true instead of false and then adjust the Concurrent_Mode_Risk = 1-10 to a lower setting?
Or am I safe using the “medium risk” preset OK on a Micro account at Alpari UK with sufficent capital.
Thanks for a professional attitude and website!
Yes, here’s what you need to do to accomplish your objective:
- Set Allow_Concurrent_Trades to true
- Set Concurrent_Mode_Risk to whatever risk you want on that pair when Kangaroo has already opened a trade on the other pair.
Just make sure you set this on both EAs.
Cheers, Dutch.
Hello,
I updated to the latest 5.9 but in the trade comments I see 5.1 version info.
Best regards
–
Hofferek Attila
OK, when you see that, it is very likely you did not close metatrader (MT4) when you installed the new version.
Please follow these instructions:
1. wait until Kangaroo has closed out all trades (on both pairs)
2. close the AUDUSD and EURUSD charts
3. close MT4
4. install the update and make sure it is installed to the correct platforms/brokers
5. restart MT4
6. open a new AUDUSD and EURUSD chart and load the new KangarooEAv5.9 on both charts
All should work now.
Cheers, Dutch.
Regarding suitable brokers in the USA for citizens of the USA: FXCM no longer allows hedging and closure of multiple positions in any order, according to two of FXCM’s representatives with whom I had phone conversations to clarify this very point.
Therefore, for citizens of the USA who wish to use a USA-based broker that allows hedging and random closure of positions in the MT4 platform, that pretty much leaves us with ATC Brokers and FXDD.
Ozzie and Dutch, what is your opinion of ATC Brokers vs. FXDD for Kangaroo? ATC Brokers is ECN with razor-thin spreads, but charges a commission for every trade. FXDD is a dealing desk with higher spreads, but does not charge any trading commissions.
I guess choosing between ATC Brokers and FXDD boils down to this: how important are spreads to Kangaroo?
BTW: MB Trading does not allow hedging or random closure of positions either. I demoed another hedging, multiple open trades EA with them very recently. I saw in the MT4 Experts log and the journal that the opening of positions counter to already open positions on the same pair were rejected.
Thanks.
We really don’t take a stance in brokers. We can’t because we want (and need) to stay neutral…as brokers are often based on personal preference and we don’t have enough “insights” in all brokers with live accounts. What we do notice is that low spreads, low latency and ‘raw pricefeeds’ (ECN) favour trading KangarooEA.
We did start demos using several brokers, progress can be checked and tracked on our myfxbook.com page.
will the MM calculations be able to work well on EUR or GLD (i.e. gold) accounts like the general USD accounts
The MM calculations will work on all currencies. Not sure about Gold accounts…although I assume this is expressed in USD?
Hi all,
Today on the NFP news, for me, only the brown audusd bot was in alert, the blue eurusd displayed 0,0 news. Why?
–
Hofferek Attila
The EURUSD and AUDUSD EAs are based on the same principles, but do have very different trade logic and behavior.
It is therefore perfectly normal to see certain news items being filtered on AUDUSD, while they’re not filtered on EURUSD and vice versa.
Hi,
Received the following message today from Nod32 AntiVirus during a weekly in-depth scan…
“C:\System Volume Information\_restore{802F03D9-B52E-4691-ABEF-D0DE7E6E977D}\RP40\A0013162.exe ª NSIS ª kangaroo_EURUSD.dll probably a variant of Win32/Packed.Themida potentially unwanted application”
Anything to worry about? I know that Themida is used for .dll protection but can also be used by malware.
Brad
Hi Brad,
No, this is a false positive call by your virus scanner. You can safely ignore our dlls within the virus scanner.
That’s why I thought. Better safe to ask than sorry! Thanks for the quick response Ozzie!
Wow! 6 open trades on AUD/USD for -$200 floating profit on a live account. This is looking quite bad so far. Hard to justify a subscription at this time. If they all close negative can I get my money back?
Hi Brad,
The KangarooEA using an averaging system. Over the course of our historical and live testing we have not had a Stop Loss hit.
Of course – we will stand by our guarantee 100% – if KangarooEA, running correctly fails to make you money after 60 days we will refund your purchase price.
Right after I posted it went from -200 to break even in about 15 minutes. Nice comeback! Sorry but I got a little nervous for a while there. Will keep testing Kangaroo.
I am thinking about buying and trying on a live account. However, a little hesitant with the SL. Also, I’ve been burned before.
A few questions:
1. Suggest starting account size?
2. USA or UK based broker?
Finally, if I like, I will buy multiple licenses. Can one receive a discount when purchasing additional licenses and a reduce monthly maintenance fee?
Finally, I track all my account on MyFxBook. I would we willing to share my data.
J
Hi Jaison,
I think we all have been ‘burt’ before by retail EAs – I can sympathise with you because we have as been ‘burt’ as well.
To cover monthly costs you probably want an account of about $1000 to end up with a profit after subscription. The KangarooEA on average will return about 12% (some months more, some less). This would average out to be about $120 on a $1000 account. Monthly costs are approximately $40 – leaving you with an average profit of about $80 in this case.
A non-US broker would be better, as you do not have the margin and hedging limits which the NFA imposes on US regulated brokers. KangarooEA will run on NFA/USA brokers. Given the option though, a non-US broker is preferred for most traders.
Multiple licenses can be purchased. For a second (or more) license we offer a 50% upfront discount. The monthly fee is 1EUR / day for each license.
We welcome people displaying their results on reporting sites. Please let us know your MyFxBook account so we can track your trading results.
Thank you for the questions, they are always welcomed.
Regards,
Ozzie @ TulipFX
With regards to the one time fee of 1499, that is a total of 45months of worth with the 149+30/mth subscription.
I do not mind throwing a one time fee with claims of no SLs or so, but my main concern is the going concern of your EA. How much can you assure that KangarooEA will be always improved/updated for those who paid for one lifetime fee?
Will you guys still be around after 3 years to charge that price? Or perhaps, maybe you could advise me the starting capital amount to breakeven my costs in X number of months.
Just some assurance I would like to know before i really choose to get the lifetime since I really hate being tied down to subscriptions
Hi Keleshia,
In a funny way the lifetime purchases of KangarooEA benefit from the subscription model. As we need to maintain a high level of service to our clients because they pay a subscription so too does that extend onto the once-off purchase clients. Like you pointed out, a once off purchase is like prepaying 3 years of subscriptions – and we view it as such. All our clients we commit to offering superior support as well as upgrades and discounts of future products.
TulipFX will also start looking at providing our clients with extra tools to help their trading as well. Currently we have been very busy with the KangarooEA upgrades but we are confident after the V6 update in the next few days or week we will have the time to dedicate to providing this additional service.
We plan to be around for the next 3 years, and after that too. We have launched KangarooEA under the TulipFX banner and our aim is to provide retail traders with a portfolio of EAs which we will release over time. The business plan is to have the TulipFX name known for its quality and even though we have been around now for 6 months – we consider our journey very much only in its infancy. I could assure you that we will be around for 3 years but I feel that the best way to let customers know we are in for the long haul is to tell them about our plans for the TulipFX name and future EA releases which we hope to build upon the success of the KangarooEA.
Dutch and I love our work and we have no intention of leaving it. The success of our upfront, honest and direct approach has given us great enthusiasm for achieving our goal of becoming the premium provider of retail forex EAs.
Hi Ozzie,
I must say I am convinced. Even so, before I make my decisions on lifetime(one time fee) , what do you suggest my starting capital to be?
Will you recommend the best settings for people if they request so? According to brokerage spreads/risk/leverage?
How long will I get to earn back the costs I have paid with the recommendation of my starting capital?
Lastly, I thank you for your patience and really hope TulipFx delivers as promised, as the going concerns…
Long live KangarooEA.
Hi Keleshia,
Ideally if your starting capital was $10,000 for a lifetime license you would recover the price of purchase after two average months of trading. Some months earn more, and some months earn less then others – so that timeframe could vary, but on average it would be two months to recover a once off license fee.
TulipFX is here to help our clients, so we would be happy to give our reasoned opinions on your settings. Of course the final decision on risk is always up to the client and our opinion is just that – our opinion.
Hi, Ozzie and Dutch. I have a question
i am impressed with the results, and professionality.
but i wonder,
why did you choose a fixed 60 pips stop loss
on audusd, instead of volatility-based-stoploss
using atr?
so the stoploss can be smaller on less volatile market condition
thanks
lolik
stoploss should be wider in volatile market condition,
so it will not hit due to volatility
Hi Lolik,
Thank you for your kind compliments.
We chose a 60 pip stop loss because it was the best level we found. We tried many different methods and found that the arbitrary SL worked the best. Many EA and systems use a stop loss in the sense of an exit – KangarooEA, being an averaging system uses the SL as a ‘stop loss’ ie – enough is enough.
KangarooEA clients have to be aware of what damage a SL would do – but at the same time it is not an expected outcome.
Does Kangaroo open only one position at a time?
Hi Richard,
The KangarooEA is an averaging trader (not a true grid, as it has smart multiple entries – and not a martingale, all trades are the same size as the original.).
The AUD KangarooEA will open up to 6 trades and the EUR KangarooEA will open up to 3 trades in a series. The EUR KangarooEA has a stop loss twice that of the AUD KangarooEA so overall their absolute worst case scenario situation is very close to being the same for both EAs.
The rule of thumb to be applied is risk setting * 4% = maximum risk should a Stop Loss be hit.
I want to trade manually (using manually activated scripts, and some small code for activation conditional entries) on the same pair as the Kangaroo is trading for me. I am using Magic number = 0 (zero) for each of my manual trades. I am also using quite lot GlobalVariables. I can see that Kangaroo is using the NextDLtime* glob. So which global names I should avoid? And, is there any other restrictions, please?
I forgot to add quite important thing: I want to trade in parallel with Kangaroo, I will always manage only my (manually opened) trades, and I will always leave the Kangaroo trades trades for the Kangaroo management
.
Hi Jan,
As long as you’re using different magic numbers, all should be fine.
Regarding Global Variables: we rarely use these, NextDLtime is one of the few exceptions. For a complete list, see your Global Variables in mt4.
They’re all custom named, so changes are slim they’d be interfering.
Your straightforward promotion convinced me, so I just purchased Kangaroo. I plan to run it on an MBT demo account for a few weeks and then move it to my live MBT account. I noticed that you have Kangaroo running on an MBT demo, but, after reading the manual (ver 5.1) and some of the comments above, I have some questions.
1. How does Kangaroo handle the MBT rule that market orders cannot include TP or SL? Manually one must modify market orders in this case.
2. How does Kangaroo handle the no hedging rule?
3. Does ver 5.9 have the same limitations as 5.1?
4. Will ver 6 improve on this situation?
5.How much degradation in performance will result from using MBT?
Or should I just find another broker?
Hi Stan,
Let me answer them in order.
1. The KangarooEA will place the limit orders, then modify them after placement in accordance with MBT’s rules.
2. The KangarooEA will trade without a problem on NFA no hedging brokers.
3. KangarooEA 5.9′s only limitation is that a trader manually closing positions will cause the EA’s internal logic to get confused, thinking it itself shut that trade.
4. The big improvement in version 6 is that users will now be able to manually shut trades and the KangarooEA will recognise this (although interfering with the KangarooEA’s trading is still highly unrecommended).
5. We have clients using MBT and are reporting good results in line with our displayed accounts. The main limitation on MBT is the low leverage if you are running many brokers and the hedging rule should you wish to run multiple EAs on the EURUSD and AUDUSD pair.
Thanks for the rapid response.
Hi, I’m trying to make backtesting on eur/usd. My MT4 platform says:
“2011.03.25 15:26:10 2011.01.12 09:39 KangarooEA_EURUSD_v5.9 AUDUSD,M5: stack overflow
”
What does it means?
Thanks
Stack Overflow means that MT4 does not have access to enough memory. KangarooEA is quite a complex EA with over 5,000 lines of code all up. In backtesting especially KangarooEA need more memory then most other EAs (less so in forward operation – we have 15 MT4s running Kangaroo on a 1GB VPS).
May I suggest closing any memory hungry applications down which should free up some system resources.
hi there…….I purchased the Kangaroo and installed it…it seems to be correctly installed..however, there’s a message “waiting for trading hours”displayed at the bottom of the brown and blue boxes…..is this ok?
thanks
Hi Mircea,
The KangarooEA does not trade till the Monday European session and does not trade Fridays, so when on these times the message box will tell you that it is waiting for the market hours and won’t be taking trades.
got it….thanks
I can’t find an email link for help on the website, and replying to subscriptions@tulipfx.com is also undeliverable. Just a FYI. My question is, I have been monitoring the trades on Myfxbook, and both accounts took trades on the 28th but my FXDD account did not. I have read the FAQ and noted the possible reasons mentioned there. I just wanted to know what settings you use for the two accounts so I can more closely match those results. I have three set files high, medium and low, which setting is on the Myfxbook accounts? also , I noticed the stoploss is at 120 not 60 as stated somewhere in the whitesheet. Please advise.
There are contact me buttons, email buttons and an email address on the website, moreover our support email address is also mentioned in the manual.
You can contact us at support@tulipfx.com and we’d be happy to help you.
There are 3 different set files for version 5.9. To obtain similar results to the official results on myfxbook.com, which set file should I use?
Hi Hiroko,
All our historical and forward results use the default settings, as is – no need for a set file. Just change the risk parameters to suit your risk tolerance – nothing else.
Hey guys,
Wonderful EA, good job, just made a killing today on the ranging EURUSD. My questions is: Is manually closing a trade really unadvisable (even in the event of sudden news etc.)? And if it is indeed closed that way, should the terminal be closed and EA be reloaded again? (to prevent logic confusion)?
I have a current sell trade with a sudden spike (LONG) going the opposite way (-30 pips as of time of writing). Is this within acceptable limits? Sorry for being paranoid but it’s just that it’s the first time I’ve seen this.
Thanks.
Thanks for the kind comments. In version 6.0 (now available) you can close your trades without problems. However, the trade your referring to closed out in profit, and once again indicates we do not advise closing trades manually.
Why the Kangaroo box (inside the chart) shows “Waiting for trading hours”(last rows) despite the time is the right one to trade ?
Hi Massimo,
The KangarooEA does not trade on Fridays, so it is displaying that message to let you know.
I saw the note about the M5 timeframe adjustment on v6. Does this mean we can change the timeframe without affecting the EA?
Mark, it merely means that if you make a mistake in setting the wrong time frame, Kangaroo will change it.
Kangaroo
only
runs on the M5 (5 minute) time frame.I tried to email you but not set up for your ms mail service. You need to check http://www.forexshuffle.com and look at their ThinkForex mt4 account #1151301. It looks like your trades are popping up on their statement as well as pipdragon which gave me refund in a couple of hours after request.
Thanks alot for the heads-up and reporting this!
We’re on the case.
I’ve ask a broker (specifically FxOpen) about limitation on EA trading. There’s some limitation apply on micro account here.
1) Stop Loss, Take Profit and Pending Orders 10 pips or more away from the current price.
2) Most of the trades must be open for more than 1 minute
News Trading is allowd with limitations. Placing, modifying or deleting pending Buy Stop and Sell Stop orders (including opposite Stop orders) is not permitted during the Freeze Time immediately before a news release.
Does KangarooEA break above rules?
Please review this blog article: http://tulipfx.com/2011/04/17/the-impact-of-your-broker-choice-on-your-trading-results/
From what you’ve wrote, I think trading Kangaroo on such an account would be no problem but I’d rather opt for better broker conditions.
Definitely try it on demo first (with similar restrictions) and monitor performance.
I have a question regarding running multiple MetaTrader terminals on a single PC.
I have been running multiple MetaTrader terminals simultaneously to run different EAs on different brokers. If I purchase Kangaroo EA, do you think it is ok for me to run this EA along with other EAs each on a separate terminal?
Hi Terence,
Yes, the KangarooEA will manage its own trades based on its own magic numbers. I would not expect you to have any problems adding it to your system if it is currently operating correctly.
Hello, I bought kangaroo ea just yesterday and It will run on my platform from this week, I hope to haven’t waste my money…
Googling I read that pip dragon did resell signals of your ea, you accuse them and now they have closed ? Is that true or it’s just a story?
It’s a true story. Sad but true.
Hey Guys! I am still loving the Kangaroo. Well worth the money. I do have a question though. I have noticed that, at least as of the last 2 releases v5.9 & v6.0, the EA has this tendency to place a trade and then close it right at a break even point or very close. Sometimes it ends up being right, sometimes wrong. The problem I have with this is I have an ECN account, which means that closing an order at break even is a loss due to commission fees. Is there a way to code into the next release a way to have the EA take a certain pip value for commission into it’s loss/win consideration? for example…say I get a 2% commission fee per lot per side…and it effectively requires about +1 pip to break even after commissions are factored in…then if the kangaroo closed the order at +0.5pip it would still consider it a loss? I figure it would need to be variable to accommodate different brokers commission fees, but I believe that would help. Since the switch to v5.9…it has effectively “lost” this way maybe 4 times…which doesn’t sound like much, but the Kangaroo doesn’t trade much so that adds up.
Anyway, just a thought about a possible solution to this small problem. I thought I could tell you guys and you could think about the possibility. Thanks!
Hi Mark, thanks for your kind comments. The trade logic has really not changed since v3.0 (pre-release).
Most of us use ECN brokers (I hope…..see this post why: http://tulipfx.com/2011/04/17/the-impact-of-your-broker-choice-on-your-trading-results/), and we all have to pay the broker one way or another. We feel the best way is via commission, as this aligns the interest of broker and trader the most. I’ve never heard of a percentage commission fee tho. Usually the fee is fixed ($6 to $8 per roundtrip on 1 lot). If we start ‘adjusting’ the strategy to accommodate for different kinds of fee structures, this might negatively impact the results. To answer your question: the fee is not added in in Kangaroo’s decision whether a trade closed in a loss or profit. We might look into this at a later time, as we’re busy at the moment developing a new EA. That’s our current priority: to continue to offer you all profitable EAs and build a balanced portfolio of EAs.
Hi
I wanna join to the VPS http://www.forexvps.ch, can be there any problem to upload your EA to this VPS? Would be great if you could check that for me!!
thanks!
Hi Chris,
It is important to use a Windows operating system on your VPS. Metatrader 4 and KangarooEA (using Windows based .dll files) are both designed to run on official Windows software, not on Linux emulation software.
Running Metatrader 4 and KangarooEA on Linux software might result is issues and we strongly recommend against it.
Please select a VPS which uses Windows official software.
Can I download a demo version ?
Hi Tal,
TulipFX does not distribute demo versions. However you can see the demo tests on more then a dozen different brokers here: http://www.myfxbook.com/members/TulipFX
In addition full backtests and explanation of the system can be read in our KangarooEA whitepaper on the product page.
Money back program exists?
Hi Tal,
We offer a profit guarantee that your KangarooEA will make a profit after 60 days, if that is what you mean.
If you mean do we participate in cash back programs – no we don’t. Our business plan is just to release good quality automated trading software. No gimmics, no tricks – so you will find no cash back programs, misleading discounts or false number of copies remaining to be sold. TulipFX displays our product and lists its price. Simple.
hi there,
I have the Kangaroo and I’m very happy with the results. However, almost 1 month now, and no aud/usd trades, only eur/usd. And I cheked the results on your site and say that on 14.04 there were aud/usd trades. However, not on my account, even though it was active!!! Can you explain this?
Mircea
Hi Mircea,
All KangarooEAs are the same. Exactly the same. They have the same trading rules, trade management code and logic. Differences occur because of broker price feeds.
Dutch and I just did a blog on how choosing the right broker can have a big impact on your trading results. You can read it here: http://tulipfx.com/2011/04/17/the-impact-of-your-broker-choice-on-your-trading-results/
thank you for your answer……I read your explanation, it makes some sense……..however, there were SIX trades on aud/usd on the 14.04….SIX…..you want to tell me all SIX of them were brokers fault?
Hi Mircea,
No, you misunderstand how the KangarooEA trades. When Kangaroo has one position open, it can decide to close this position and reverse the position or continue. On some brokers it did this, on others (such as yours) it did not reverse its trade. Since the trade was not reversed Kangaroo will average its trades out and close them at the basket take profit level.
So the difference in the decision was a single one made early on. Once that decision had been made the course has been set.
Hi Ozzie,
Got it now. A bit confusing, but allright.
All the best.
Mircea
Hey guys! I just wanted to drop in and let you know that I am impressed with the performance so far. I have been running the KangarooEA since the beginning of the year. I have watched many other EAs bomb and watched many professional traders take a lot of hits to their accounts. From my experience….on a LIVE account…with the KangarooEA is that this thing is 99.9% accurate. I am amazed by this thing. It doesn’t trade often, but with it handling these insane choppy sideways markets the way it has….I have finally just put it on an account all by itself. At the end of every week, I go see how much money It made me (ALWAYS positive). Very glad you added the EURUSD pair too as the AUDUSD has not had many trade signals over the past month. But…the EURUSD has completely covered for it. Simply amazing! Keep up the good work!
I have been using this EA for about a month and I am very happy with the results. I found a EUR/USD position whose magic number is 4104. If the EA will have up to 3 positions for EUR/USD, what is this magic number for?
Hi Hiroko,
The KangarooEA uses different magic numbers depending on the situation it finds its trades in. So that it can recognise what is happening with its trades and what method of trading it is using the KangarooEA has a number of different magic numbers.
Thank you for your answer, Ozzie.
When the EA has 3 positions, how do magic numbers run?
1101,2102,3103,4104 or 4104,3103,2102,1101 ?
I mean,
1101,2102,3103 or 3103,2102,1101 ?
Sorry to bother you…
Just use any magic number on any other EA that:
1. starts with 5xxx
2. or has 5 digits, such as 12345
Hope this helps.
Can you please tell me if this EA will work on Oanda MT4 platform? I have a live account with Oanda and I was wondering if you have run this EA with Oanda
Regards
Alkis
Hi Alkis,
OandA’s MT4 platform is a new addition to their trading. We have at least one client using OandA and they have not reported any problems. They are a well-regarded broker so I would think their feed is true which should result in good trading conditions for KangarooEA.
The great difference between brokers is somewhat of a myth. All the good brokers who offer unfiltered price feed and good variable spreads return very similar results. The difference is between poor quality and good quality. OandA should be in the good category.
We have a couple of extra brokers we will begin running soon – we will need to purchase another VPS system to run them as we have reached the limit with the one we currently have. So keep an eye out for them.
OK …. many thanks for your prompt reply.
Hello Ozzie,
Could you let me know please if Kangaroo is compliant with FIFO and can ve traded with a US based broker. Does Kangaroo place opposing orders?
Hi Stephen,
The short answer is yes it is FIFO compliant and yes it can be traded on a NFA regulated broker. KangarooEA does (very) occasionally place an opposite trade but on NFA brokers it simply will not make this bonus trade.
Longer answer to this question can be found above.
What bare bones VPS system do you recommend for one to two accounts and could you provide their info? (website address is perfect). Thanks in advance!
Have a look at:
- ForexVPS: http://www.forexvps.com
- SWVPS: http://www.swvps.com
- CNS: http://www.commercialnetworkservices.com