Euro Daily Trader

This is a discussion on Euro Daily Trader within the Trading Journals forums, part of the Reception category; Originally Posted by wiseambitions It's an interesting argument however I have tested this system for many hours from many perspectives ...

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Old Jan 25, 2012, 8:13pm   #111
 
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Re: Euro Daily Trader

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Originally Posted by wiseambitions View Post
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.
You may want to review work by Bruce Babcock and consider using an Anti-Martingale approach where you increase on wins and decrease on losses. You can vary the amount of increases or decreases. I would be interested in an EA that uses that system, properly teste of course.
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Old Jan 26, 2012, 11:07pm   #112
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Re: Euro Daily Trader

wiseambitions started this thread
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Originally Posted by Hauoli2 View Post
You may want to review work by Bruce Babcock and consider using an Anti-Martingale approach where you increase on wins and decrease on losses. You can vary the amount of increases or decreases. I would be interested in an EA that uses that system, properly teste of course.

OK I will look it up when I get chance

The thing about increasing on wins makes no sense to me actually because that would rely on consecutive wins being a regular feature, which is not the nature of this system. I say do the opposite. Tuesday was a nice win, Wednesday was equally a quick loss, nothing abnormal about that, so long as there's a reasonable supply of wins, sufficient to get the cumulative pip count to move upwards.
Ingenious money management could well give this system an edge.
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Old Jan 27, 2012, 9:30pm   #113
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Re: Euro Daily Trader

Nice result tonight. 39 pip win in less than 40 minutes. That's a nice finish to a pretty decent week, what is looking like a good month and an excellent start to 2012.

For those of you who haven't noticed, we broke the 1000 pip barrier this week (see results on the website). That is taking results from when EDT went live on June 1st 2011.

For those of you that haven't realised it yet, the win/loss ratio of EDT makes those pips worth a hell of a lot more than pips on other systems at the same risk. Those 1000 pips, even trading at a flat 4% risk, represent a gain to the account of 210% so more than tripling your money in the 8 months. If you used EDT's built in Money Management system and traded at 4% compounded, those 1000 pips represent a gain of over 550%, turning $1000 into $6,500 or $10,000 into $65,000.

Food for thought?

Have a good weekend!


Mike
The Forex Club
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Old Jan 28, 2012, 6:26pm   #114
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread Yes 1000 pips since 1/June is admirable, the only trouble is maybe at least half of them were bagged before the system came to the public, so most people would perhaps be lucky to get over 500. Nevertheless January has been a great month, those who didn't trade the first Monday (bank holiday) will have done even better.

If the average of the last 8 months (eg June to end January) could be repeated as the annual score then that would be very satisfactory and enrich a lot of people. If there has been a multiplication of 6.5 in capital in 8 months this could potentially more double again before 31st May, with around 15 times as a possibility, however it does show a need for great discipline - making sure the system is always loaded, and on a reliable VPS with a reliable broker......
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Old Jan 29, 2012, 3:14pm   #115
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Re: Euro Daily Trader

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Originally Posted by wiseambitions View Post
Yes 1000 pips since 1/June is admirable, the only trouble is maybe at least half of them were bagged before the system came to the public, so most people would perhaps be lucky to get over 500.
I must agree. Attached is a copy of my results. I have been in negative territory until recently. I still like the system and I think the idea of a small risk to a large reward is something that all systems should use. So I continue to trade it. But my personal experience has not been as good as the advertised because I started trading the system at the beginning of a down trend.
Attached Thumbnails
resultchart.png  
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Old Feb 1, 2012, 9:15am   #116
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Re: Euro Daily Trader

wiseambitions started this thread I seem to have done better than the 'official' statistics for the first time in months, chiefly through having not traded on Bank Holidays 26 December and 2 January where the trades would have been losers.

v4.0 potentially improves the system because of the trailing stop near the TP, which might sometimes get you a few more pips than 39 or 40. However I notice my total win is largely comprised of the bonus which the BE trades gives, and to get +9 instead of -1 makes a useful difference over time (so long as it doesn't knock out trades too often which might otherwise go to full TP).

I hope they can find other little ways of adding to the returns as profits are rather illusive from many systems at the moment. All the time this can give me about 100 pips a month it is a useful strategy to use.
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Old Feb 2, 2012, 4:04am   #117
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Re: Euro Daily Trader

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Originally Posted by wiseambitions View Post
I seem to have done better than the 'official' statistics for the first time in months, chiefly through having not traded on Bank Holidays 26 December and 2 January where the trades would have been losers.

v4.0 potentially improves the system because of the trailing stop near the TP, which might sometimes get you a few more pips than 39 or 40. However I notice my total win is largely comprised of the bonus which the BE trades gives, and to get +9 instead of -1 makes a useful difference over time (so long as it doesn't knock out trades too often which might otherwise go to full TP).

I hope they can find other little ways of adding to the returns as profits are rather illusive from many systems at the moment. All the time this can give me about 100 pips a month it is a useful strategy to use.
Three losing trades this week.... I am back in negative territory. I m really having second thoughts about continuing with this system. I started with 4% risk and lost several hundred dollars. Then I changed the risk to 1% through December and the first half of Janurary. Then as soon as I change to 2% risk, I get a string of losing trades.

Ugh!
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Old Feb 2, 2012, 5:13pm   #118
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Re: Euro Daily Trader

wiseambitions started this thread Yes, this week so far has been as bad to the same extent as last week might have been good...

We are due a win or two by now....

Also I see Mike your risk @ 2% log seems to have stopped operating on 30th January, I tended to like it showing alongside the @4% situation, even if only to prove that sometimes both don't trade together or even the same direction, this system is prone to days when two charts act quite opposite.


Friday: Missed TP Thursday night by less than 5 it's happened like that before a couple times. Slid back to +9 which was a bit disappointing but better than the -1 which applied prior to v3.5

Last edited by wiseambitions; Feb 3, 2012 at 10:13am.
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Old Feb 3, 2012, 5:42pm   #119
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Re: Euro Daily Trader

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Originally Posted by wiseambitions View Post
Yes, this week so far has been as bad to the same extent as last week might have been good...

We are due a win or two by now....

Also I see Mike your risk @ 2% log seems to have stopped operating on 30th January, I tended to like it showing alongside the @4% situation, even if only to prove that sometimes both don't trade together or even the same direction, this system is prone to days when two charts act quite opposite.


Friday: Missed TP Thursday night by less than 5 it's happened like that before a couple times. Slid back to +9 which was a bit disappointing but better than the -1 which applied prior to v3.5

I took the 2% log off the forums as I was getting questions almost daily about why the results sometimes differed from the 4% log (despite posting the info on forums several times). But it's still running and is available as a link on the website.

Unlucky with that near miss last night but of course that's what the BE +9 is for, and your right, it did get a fair number of pips in January. Would be nice to see the TS kick in soon to show its worth.

We keep trying!

Mike
The Forex Club
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Old Feb 4, 2012, 8:28am   #120
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread
Quote:
Originally Posted by Mike Forex View Post
I took the 2% log off the forums as I was getting questions almost daily about why the results sometimes differed from the 4% log (despite posting the info on forums several times). But it's still running and is available as a link on the website.

Unlucky with that near miss last night but of course that's what the BE +9 is for, and your right, it did get a fair number of pips in January. Would be nice to see the TS kick in soon to show its worth.

We keep trying!

Mike
The Forex Club

Thanks, I see it again now.
Showing that @2% there were about 190 pips and a growth of nigh on 20%

And @4%, maybe a couple more winning trades on that chart, and a growth of nearly 60%

Since early October.

-----
Friday night, another +9. I had 3 x SL, and 2 X +9 this week. About 40 pips down.

I suppose there's limited functionality that can be built into these EAs, however an exta benefit that would be helpful for Thursday night would have been a 2nd SL reset after the +9, say +19 on achieving +30, because a lot of us were only 2 or 3 pips away from TP before being denied it. I remember 2 or 3 such occasions in the last couple of months.

I still think most of the monthly pips growth is coming from the +9s. Re-run December and January results through a version earlier than v3.5 and they would have only been half as good, and would have been nearer to the sluggish production of November, October etc. So it's an improvement.

Looking forward to a +50 with the new TS too
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