Euro Daily Trader

Sadly the attached chart which shows the rolling daily average pips per day for the last 10 weeks, 50 days, until 8th December, tells the story of a system which is faltering fast. I'm disappointed in the last couple of weeks, which contained 1 win and 7 losses since 28th November.

Results until mid September are drawn from The Forex Club - WELCOME! and after then from my own trading.

I too am disappointed at the recent results and we are working hard to try and change this.

With that in mind, you should all have an email sent late Sunday night with a link to EDT v3.5.

If you did not receive yours (please look in your spam folder first) then please email me at info@theforexclub.eu and I will send you a copy direct.

We shall be trading with the new EA from Monday 12th December.

Mike
The Forex Club

Yes,we're looking forward to any tweak which brings improvements


The trouble is the euro looks like it's in death throes these days and it makes nonsense of the technicial indicators which might have used to work

And a win, after 6 hours, Monday night restored most of us to the situation as of last Wednesday morning, compensating 2 losses.

It was close though! I reckon if TP had been a pip or two more it wouldn't have worked like that.

The win also does good to the longer term running averages, e.g. 100 day MA, but we need one or two more quickly to give convincing signs of progress.

Best luck for the rest of the week, EDT usually repays its debts........

Thanks for that Wise.

No pressure then?

Mike
The Forex Club

Hi Mike

Well it owes me one or two wins.
I'm trying to work on what sort of broker suits this system best as there is diversity with the outcomes between users.
Not only one with low spread but quick execution and no slippage.
Initial findings say market makers rather than ECN/STP give better results

Concerned a bit that the 40tp if I were running the new EA might have missed me three TPs lately, including two days when 39 missed the goal and 38 would have been ok.

Update 9pm Tuesday

v3.0 took a short trade
Hit SL by a slim margin else would have got TP with ECN account

Small MM broker account achieved TP. Note I said small, most of my money was on the other sort!

I heard that people with v3.5 had a mixture of no trade and BE+9

The reason v3.0 didn't knock out at BE-1 was that the price didn't retrace that far.

So a funny day really, all scenarios of No trade, BE + 9 and TP were possible giving a range of nearly 60 pips.

Can somebody please convince me whether these experiences cancel each other out to give a similar long term gain?????

Hey Wise, I had a similar experience. I guess the signal difference between NT and Short would be a broker related issue. For me, the signal came up as 'No Trade' but placed a trade anyway (!!??) then TP'd at BE+9. Mike, can you provide some update on the new workings and behaviours of 3.5? I know this release was brought forward as the 3.0 was clearly heading towards crash and burn - but are there some further updates to come to knock the rough edges off this release? Other than that, am encouraged that 3.5 is at last not going long when the market is clearly going short, so signal reading looks an improvement..! Time will tell for all of us that continue to keep the faith....

DIFFERENT RESULTS

This is the hot topic of conversation this morning as conflicting signals gave different results. Monday also gave different results as most hit full TP of 40 pips but a few hit the new +9 sl line on the retrace.

The fact is, this issue has very little to do with this EA (or any other EA for that matter) and everything to do with broker differences. I have been reading a lot of comments about MDP recently which really demonstrates this point. Of all their users, and there seems to be a lot, I have not yet found two traders who got the same result on any given day!

I would like to share this article with you (see below), which discusses this subject and concludes with the line:

"...it becomes obvious that having the same results amongst all the different brokers will be quite impossible..."

I think that just about sums it up.

Understanding Broker Dependency: What Makes Results Different From One Broker to Another | Mechanical Forex

Mike
The Forex Club