Euro Daily Trader

I think profit taking (a long after a week of deep decline) will be our redemption this week....

Not a great believer in luck although the last couple of months have strained that belief in that if there is such a thing; we have had our fair share of the bad kind.

When you consider that spikes should be random events (random in terms of the direction they go) most of these went against us and when you have a 2:1 ratio that makes a massive difference to the pip total.

However, one went our way tonight (Friday) and we took the lion's share of it due to the trailing stop function on the EA.

Long signal this evening and our entry on the live GKFX account is spot at 1.27317 given that the candle opened at 1.27302 and the spread is 1.5 pips. A very nice spike around 20:10 (London) hit the 25 pip target and the best trailing stop so far took the trade way up to close at 1.27796 - a win of 47.9 pips. This will show as a rounded 48 pips on the website results page.

Nice one!

Have a good weekend all.

Mike
The Forex Club

Yes fortunately it went our way but I wonder if one or two members got stopped out at a time when it looked at the stop loss devil eyeball to eyeball

I have heard an expression 'The market can stay irrational longer than you can stay solvent' and seeing we have had 2 months of this nonsense now I'm not alone in wondering whether and when the technical conditions which favour the system, including all its upgrades, will return.

What a lottery......
v5.0 wins 10 pips, v4.0 wins 70 pips Tuesday night (in theory anyway!).

This means that my tally for the month is now
v5 +16 pips, v4 -21 pips (gap is closing!) v3.0 -35 pips.

Still possible to claim the new version is best, going on the last 3 weeks.

Monday 28th. Live trading led to the slaughter, suffered about 11:45pm, yet a strategy test run the next morning on Alpari gave it a 'No Trade'. However IBFX demo account shows +10 (taken at 01:15am) There are lots of things at the moment I fail to understand.


However on another tack, it was a public observance in USA and would have usually been our bank holiday if it were not for the Jubilee. I have previously questioned the outcome for trading when a market is on shutdown and this was another example of doom for proceeding to do so

Demo results for month so far (v5) GKFX -19, Alpari +1, IBFX -23 pips. No particular conclusions.

I think from this chart, which shows cum. production the last 50 days, the system may be coming back into a winning streak, as the improvements of the latest version take full effect

demo results with different revisions since 1 May
v3.0 +65 pips
v4.0 +11
v5.0 +92

There doesnt seem to be any discussion about this now....nor PMs .....perhaps everyone's stopped using it who used to visit here?

No trade signals 4 days in a row. But currently 100 pips up on the month with 2 days left.

I managed to run a careful back test and have noticed that current version v5.0 could have probably turned £10000 into £105000 since 1.6.2011 at 4% risk and would now be back to previous high after 3m of bad experience. Which is better than £10000 into £60000 achieved by the producers using the version applicable on the day...

Whereas theyve also said the EDT effect wouldnt have worked prior to 2010 I think v5 might have still been mildly productive, which is encouraging. I think the improvement comes from the combination of new exit settings (less aggressive TPs) and the filters which seem to stop about 1 trade in 3 and which probably save a loss most times which earlier versions would have incurred.

version 6.0 now been supplied to us. In backtests seems to trade much more frequently than v5.0 and sometimes goes the other way, which suggests the trend signal is picked up from a different indicator to before.

A basic back test since 1st April (3 and half months) using 4% risk, compounded, doubled the starting balance by 13th July. E&OE.
Pip count on its own is no longer a valid KPI without some adjustment because it varies the SL on some days and therefore the lot size for a given % risk exposure can double and halve.