Euro Daily Trader

This is a discussion on Euro Daily Trader within the Trading Journals forums, part of the Reception category; Wise, Really appreciate you keeping these records. The downturn on the graph above was expected as your first trade in ...

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Old Dec 16, 2011, 1:03am   #91
Joined Sep 2011
Re: Euro Daily Trader

Wise,

Really appreciate you keeping these records.

The downturn on the graph above was expected as your first trade in the "50" trades that your graph is now looking at, has just reached the high point at the end of the first week in October.

The downturn on the graph is really showing the better than average results at the end of September and into the first week of October, compared with the worse than average in the past 10 days.

You will now find that the graph takes a sharp upturn, almost regardless of the results of the next few trades, as we go through that bad run of losses that happened in Octobers 2nd and 3rd weeks.

Just watching tonight's trade before turning in. BE has just gone to +9 pips so we will have a winner!

Mike
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Old Dec 16, 2011, 9:32pm   #92
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread Those comments may have been true and a graph drawn after Thursday's trade might have leveled out, but today's loser drove it down some more. Whatever indicators you look at the euro just does its own thing at the moment and it's a gamble to dare and trade with it
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Old Dec 19, 2011, 9:52pm   #93
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread And it carries on getting worse

Not worth carrying on now
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Last edited by wiseambitions; Dec 19, 2011 at 9:58pm.
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Old Dec 23, 2011, 10:53am   #94
Joined Sep 2011
Re: Euro Daily Trader

Quote:
Originally Posted by wiseambitions View Post
And it carries on getting worse

Not worth carrying on now
Lots of people asked me if we intended to trade through Christmas and I said that we would be trading as normal.

I would be interested to see what your graph looks like today wise.

Mike
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Old Dec 23, 2011, 5:43pm   #95
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread Hi the 50d MA is looking up again.......

I have to say my luck hasn't been as good as others' with this system lately, seeing there are reports of profits, one reason I think is that it probably suits better with MM brokers because of instant execution.

It surprised me how this week was a bit more steady than others. I wonder if there has been less volatility due to no major news announcements, as this is the thing that knocks this method out of a trade due to tight stop losses. Somewhere I read that the tests for Nov and Dec 2010 were about as good as any, but the pattern wasn't carried through generally this time. We'll have to see whether it does better in January

I've reduced the risk for tonight and of course invoked the Friday forced closure.
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Old Jan 5, 2012, 6:57pm   #96
Joined Sep 2011
Re: Euro Daily Trader

So..........

An end to the year with another gain in December, and although pips gained increased again, still not back to the average of around 140 to 150 per month we are looking for. But as they say, a win is a win is a win!

Looking back over the live results since June 2011, we have only had one losing month (a loss of 4 pips in August) and it is difficult to understand why we seem to have come in for so much stick.

However, that seems to be the nature of the game and all we can do is plod on.

Not a bad start to January so far, we are already up 6.2% (at 4% risk).

May I wish everyone a profitable New Year!

Mike
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Old Jan 6, 2012, 8:19pm   #97
Joined Sep 2011
Re: Euro Daily Trader

Slow....Slower....Slowest!!!

Hardly moved since an hour before the trade so looks like our Friday Early Close may come into play tonight.

Nice to be sitting on results that mean that whatever happens tonight, the week will be a winning one.

EDT v4.0 will be out soon which will build on the recent success of v3.5 and with a rather interesting addition to the EA.

Watch this space.

Mike
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Old Jan 10, 2012, 11:27am   #98
Joined Sep 2011
Re: Euro Daily Trader

Another 40 pips win yesterday now puts us 173 pips up over the Christmas / New Year period (since 19th Dec).

That gives us a 35% gain (at 4%) which is pretty impressive for any three week period and doubly so in a period where most traders are of the opinion that it is not worth trading at all.

It also means a good start to January, and the New Year, with 79 pips (16% gain) already for the month.

Mike
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Old Jan 12, 2012, 1:41pm   #99
 
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Joined Dec 2008
Re: Euro Daily Trader

Testing the system here too (since January, 1). Let's see how it developes, the start is promissing
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Old Jan 13, 2012, 10:31am   #100
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread Some systems give very comparable results between users, but it's not a character of this one.

I've had a couple occasions where my trades have been opposite to others, and plenty trades where I've had SL and others have not, or might have achieved or not achieved TP when others have had a different outcome.

Example Thursday night, I had No Trade, but I know others who traded and had a loss.

You'd like to think that these differences would cancel themselves out in the long term, however there is no guarantee of this

I have spent time on the system, thinking about the R/R/R and the fact that a regular pattern of one win, a break even and a stop loss seem to be pretty much the measure of things. And seeing a win is worth 2 stop losses, to test variable lot sizes.

Basically I think a form of Martingale is suited to the system, and I'd say categorically it is the best way and the only way I am now using it. I've explained to the programmers how I have worked out a system which even if there were no cumulative gains in 3 months could still give 40pc return on capital. Incredible but true. I may update the forum of my real results in a few more weeks. Currently it should be making me less anxious about the day to day differences that go on, because I should continue in a measure of confidence that the next profit will be even better even if there has just been a losing trade.

Last edited by wiseambitions; Jan 13, 2012 at 4:31pm.
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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
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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
Joined Oct 2010
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
Joined Oct 2010
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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