Euro Daily Trader

This is a discussion on Euro Daily Trader within the Trading Journals forums, part of the Reception category; So where is Mike? Would like a response to my initial mail (Wise Ambitions - thanks, but would like to ...

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Old Oct 21, 2011, 10:19am   #22
 
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Joined Oct 2011
Re: Euro Daily Trader

So where is Mike? Would like a response to my initial mail (Wise Ambitions - thanks, but would like to hear a response from Mike) but I'm guessing now we'd all like to know what logic behind the EA made it punt the wrong way three times in succession. 50:50 success rates at the moment are starting to seem like a pipe dream. Even if it had punted the right way three times in succession, I'd personally like to know why it had worked - maybe I'm just kinky that way. For the most part I'm guessing the consensus on this forum will be mostly wanting to know why it didn't. Mike? This is your cue....
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Old Oct 21, 2011, 6:39pm   #23
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread Friday night
4th SL in a row, 2 wins in 2 weeks. (1 was forced early close not at full TP either). 6 losses. 2 no trades.

While preservation of capital is the main thing when trading forex, there is no compelling reason for me to go down the plug hole with the euro either and blow away 5 pips every day by doing this and following a method which I don't understand (Megadroid and FapTurbo have done enough of that to me!). I have a pretty good idea now what indicators it uses all the same

Time to give this a system a miss, conditions just don't favour it at the moment

Why do new EAs often go down in flames soon after coming onto the market?????

Shame really because the claims were modest and the service good, but the experience is more scary than riding a tiger, the moment of truth comes very quickly, you can tell very quickly if you're liable to bite the dust, things happen in the first few minutes after the trade opens to indicate that.

Last edited by wiseambitions; Oct 22, 2011 at 10:03am.
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Old Oct 25, 2011, 8:56pm   #24
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread TUESDAY UPDATE
As is unfortunately the pattern lately this system produced BE-1 on Monday, and SL (-19) Tuesday

October is just below break even due to slippage

Impossible to endorse as a good system when this is the way it treats you.

It's had 9 SLs this month which is worse than in any other month in the statistics declared for June to September if they are what we would have all experienced with our different brokers


Wednesday

It's getting too predictable. Another losing trade. Impossible to say anything nice about the performance, although the risk-reward ratio is good (if only there were wins!). Like most of the other EAs it goes wrong within a short while of being published. Great pity really

Last edited by wiseambitions; Oct 26, 2011 at 6:55pm.
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Old Oct 26, 2011, 9:58pm   #25
 
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Joined Oct 2011
Re: Euro Daily Trader

Wow. Another loss today (Weds 26th). Methinks this EA is toast. Either that or some canny broker has figured out how to wash'n'rinse any trades to flush out the 19pips on every trade that is made like clockwork around the same time each day. Time to change the algorithm, or go get a job flipping burgers guys....
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Old Oct 29, 2011, 7:06am   #26
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread Friday: Forced closure before 10pm UK time, let's call that a break even.... depends whether you bagged a couple of pips or lost a few...

It makes the week 2 break evens, 2 losses and 1 no trade. No winners

There's one day left to possibly trade in October, and it is interesting to say that the 5 wins of the month, (that's all there were), so far, in spite of at least 10 losses, are enough to bring the total to not many pips below zero. I'd say in a range -5 to -25 depending on luck and slippage.

Just as much as we all desperately wanted the system to do better, I have watched other systems have a terrible time too, like down over 150 points. (for similar % risk and TP). It would be nice if Monday offered a win too

Hope for everyone's benefit - the promoters and the users (how many are still patient I would not know) - that November turns a corner for the better. It would be nice of Monday offered a winning trade too
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Old Nov 1, 2011, 11:34am   #27
Joined Sep 2011
Re: Euro Daily Trader

And so....

The roller coaster ride that was October finished with a profit of 33 pips representing just 3.47% growth at 2% flat risk. Rather disappointing after the bumper September, but then still a profit after all.

It is worth pointing out of course that because of the advantageous SL/TP ratio that the system has, 33 pips on EDT is worth quite a bit more in terms of profit to the trader than on most other systems. You would need to win 78 pips on FMT for example to acheive the same profit.

This means that since starting live trading on June 1st, we have had only one losing month which was August which ended with a loss of 4 pips. The stats (full details on the website) now show that since June 1st:

Euro Daily Trader has won 767 pips representing 80.73% growth at 2% flat risk (average of over 16% per month)

Using EDT's built in MM system to maximise profit:

At 2% risk this has more than doubled a starting bank of $10,000 to $21,513.

At 3% risk the same $10,000 bank has trebled to $30,637.

And at 4% risk your $10,000 is now worth $42,819

Is there more to come? We certainly hope so. And although we are always very cautious about using past history to predict the future, guess which were by far the best two months of 2010 in our back tests? Take a look at the results page on the website for the answer to that one.

Apologies to those on this thread for an absence, I got caught up in a rather complicated daylight saving time problem which resulted in EDT EA v3.0 being released and I also took a long ago booked holiday in half term week. I will read back through the proceeding posts and try and answer any outstanding questions.

Mike
The Forex Club
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Old Nov 1, 2011, 11:42am   #28
Joined Sep 2011
Re: Euro Daily Trader

[QUOTE=ggjr61;1705978]
Quote:
Originally Posted by Mike Forex View Post

Mike:

If you strongly recommend this setting, you might consider changing the default to "True".
Thank you for this suggestion ggjr61, it was so obvious that it was overlooked!

Now been rectified and all new EA's going out have "true" as default.

Thanks again.

Mike
The Forex Club
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