Euro Daily Trader

This is a discussion on Euro Daily Trader within the Trading Journals forums, part of the Reception category; Interesting stuff that Wise! Thanks for your email on this, we are taking a good look at it. As for ...

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Old Jan 13, 2012, 8:38pm   #101
Joined Sep 2011
Re: Euro Daily Trader

Interesting stuff that Wise! Thanks for your email on this, we are taking a good look at it.

As for today:

Just hit BE at +9 pips so a small loss of 8 pips for the week.

That gives us a result for this tough "Christmas month" (12th Dec to 12th January) of 145 pips profit which is a big gain on a system like EDT. At 2% risk, 145 pips gives a 15.2% gain and at 4% it is a surprising 30.5% gain.

A nice bonus for those of you that stayed with us over this period.

Have a good weekend!

Mike
The Forex Club
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Old Jan 16, 2012, 7:21pm   #102
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread oo woops 6:20pm

Doesn't look like it's a session to be in an a long trade......10pip quick slide happening
Maybe American holday, also speeches from top ECB and US bankers not helping the cause
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Old Jan 18, 2012, 2:47pm   #103
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Re: Euro Daily Trader

wiseambitions started this thread Wednesday.
v3.0 actually traded (v3.5 didn't), on Tuesday and made TP in the early hours of the morning.

I presume it was a borderline trade and they've put some kind of exclusion zone to filter out the gamble?

Last edited by wiseambitions; Jan 18, 2012 at 3:06pm.
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Old Jan 19, 2012, 11:27am   #104
 
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Re: Euro Daily Trader

I am not sure why people are always looking to modify working systems.

Why would you increase your risk by using a martingale system?

The benefit of a system like this ( I should know I designed an identical system 4+ years ago) is its simplicity. You know exactly what will happen with this system. The 2:1 ratio is the whole basis and in my opinion benefit of this system.

Strike rate will fluctuate between 40%-60% on the whole. It will go into periods of breakeven. Why try and force a profit?

Your best bet for making more money with this system is larger capital.
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Old Jan 19, 2012, 6:36pm   #105
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Re: Euro Daily Trader

wiseambitions started this thread
Quote:
Originally Posted by Hooya View Post
I am not sure why people are always looking to modify working systems.

Why would you increase your risk by using a martingale system?

The benefit of a system like this ( I should know I designed an identical system 4+ years ago) is its simplicity. You know exactly what will happen with this system.
The 2:1 ratio is the whole basis and in my opinion benefit of this system.

Strike rate will fluctuate between 40%-60% on the whole. It will go into periods of breakeven. Why try and force a profit?

Your best bet for making more money with this system is larger capital.
It's an interesting argument however I have tested this system for many hours from many perspectives

1) Increasing capital and moderating risk

2) Increasing risk

3) Manually intervening when it is obvious the technical indicators don't make sense with the market on the day

4) The fact that some users get opposite signals on the same start time

5) The possibility that slippage or execution delays prevent TP, or cause SL, or fail to get the BE reset

Taking all these into consideration I then laboriously worked on the variable risk system, I don't really want to get drawn too far into the exact technicalities, other than to say it's worth running the numbers through spreadsheets, and questioning whether to go that route deviates from your comfort zone, because the final outcome does look promising, subject to applying the right discipline on a daily basis.
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Old Jan 19, 2012, 8:25pm   #106
Joined Sep 2011
Re: Euro Daily Trader

Latest version of Euro Daily Trader is out today so if you are an EDT owner and/or member of The Forex Club, you should have received an email containing a download link.

There are small changes to the indicators and filters in order to keep up with changes in the market, but the main change is the introduction of a trailing stop which will increase the amount of the pips gained on some days.

We have also introduced sound and email alerts to aid those who cannot be at their computer screens during the trades.

In order to allow plenty of time for setting up and any queries, we shall not be going live with EDT v4.0 on our live account, from which results are posted on the website daily, until Monday next week.

Mike
The Forex Club
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Old Jan 19, 2012, 9:24pm   #107
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread
Quote:
Originally Posted by Mike Forex View Post
Latest version of Euro Daily Trader is out today so if you are an EDT owner and/or member of The Forex Club, you should have received an email containing a download link.

There are small changes to the indicators and filters in order to keep up with changes in the market, but the main change is the introduction of a trailing stop which will increase the amount of the pips gained on some days.

We have also introduced sound and email alerts to aid those who cannot be at their computer screens during the trades.

In order to allow plenty of time for setting up and any queries, we shall not be going live with EDT v4.0 on our live account, from which results are posted on the website daily, until Monday next week.

Mike
The Forex Club
It sounds promising stuff

Concerning v3.5 (which I never properly utilised), the major boost by what I could see seemed to be the BE reset to +9 instead of -1. A few days like that (of which there have been about 4 so far this year) help the score considerably. I don't think there were many occasions if any where the higher fallback position precluded full TP being achieved, which is often a concern when using break even resetting.

I have better feelings about EDT now, particularly with my new method of money management, and believe it can like this be harnassed to better effect.
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Old Jan 20, 2012, 3:00pm   #108
 
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Re: Euro Daily Trader

wise

I am sure you are right in principle. But the point is..you can play with any system and 'test' different money management systems to give you 'maximum profit' but trading isn't about maximising profit it is about exchanging money for risk.





I never understand why anyone would want to deliberately increase the size of their losses. I am not sure you will find many processional traders who do either.

I don't know why you would even think about "Manually intervening when it is obvious the technical indicators don't make sense with the market on the day" etc etc.

If the system does not work then trade a different system. if it does trade it as is. If it is not enough income, increase capital, or add other systems.
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Old Jan 23, 2012, 9:21pm   #109
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Re: Euro Daily Trader

wiseambitions started this thread I don't normally agree with interfering with the workings of a system, but seeing as it makes me up by more, since January 1, than the conventional method, I'm happy to deviate

Monday, I think signals must have been a bit borderline as regards safety boundaries, so some might have signals(using v3.5 and 4.0) and others not (prior to v3.5). Euro shot up somewhat in the day.

Outcome - generally +9, the market didn't have enough inertia to go a lot higher than 20 before it came back to this stop.

The improved settings and improved performance is doing good things to the cumulative pip count, for example last 25 trades average +6.3 daily. That might not sound a lot, but annualised it would make 1500, and they have to be quite good strategies to get more than 100 pips regularly every month, so let's hope that's the way it stays.

Last edited by wiseambitions; Jan 24, 2012 at 9:39am.
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Old Jan 25, 2012, 7:38pm   #110
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Re: Euro Daily Trader

wiseambitions started this thread Wednesday
That was a bit of fast action! In the minutes before starting time I was watching charts upon news and wondering whether it would trigger a long or a short trade. In the event it was a long and it closed in TP after only about 15/20 minutes. I don't think the trailing stop loss had chance to kick in really, it all happened quickly and if anything there might have been a pip of slippage, but that was a good result.

A lot of EAs have had an awful start to the year, some have been utter disasters, but this one has done better than its average and the new improvements have moved it up a level. But I think I'm talking to myself and Mike on here and we can do that directly!
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