Euro Daily Trader

This is a discussion on Euro Daily Trader within the Trading Journals forums, part of the Reception category; Sadly the attached chart which shows the rolling daily average pips per day for the last 10 weeks, 50 days, ...

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Old Dec 8, 2011, 9:40pm   #81
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread Sadly the attached chart which shows the rolling daily average pips per day for the last 10 weeks, 50 days, until 8th December, tells the story of a system which is faltering fast. I'm disappointed in the last couple of weeks, which contained 1 win and 7 losses since 28th November.

Results until mid September are drawn from The Forex Club - WELCOME! and after then from my own trading.
Attached Thumbnails
edt-rolling-50-day-average-8-december.jpg  

Last edited by wiseambitions; Dec 8, 2011 at 11:10pm.
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Old Dec 12, 2011, 2:26am   #82
 
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Re: Euro Daily Trader

I too am disappointed at the recent results and we are working hard to try and change this.

With that in mind, you should all have an email sent late Sunday night with a link to EDT v3.5.

If you did not receive yours (please look in your spam folder first) then please email me at info@theforexclub.eu and I will send you a copy direct.

We shall be trading with the new EA from Monday 12th December.

Mike
The Forex Club
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Old Dec 12, 2011, 1:05pm   #83
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread
Quote:
Originally Posted by TheForexClub.eu View Post
I too am disappointed at the recent results and we are working hard to try and change this.

With that in mind, you should all have an email sent late Sunday night with a link to EDT v3.5.

If you did not receive yours (please look in your spam folder first) then please email me at info@theforexclub.eu and I will send you a copy direct.

We shall be trading with the new EA from Monday 12th December.

Mike
The Forex Club
Yes,we're looking forward to any tweak which brings improvements


The trouble is the euro looks like it's in death throes these days and it makes nonsense of the technicial indicators which might have used to work
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Old Dec 13, 2011, 8:12am   #84
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread
Quote:
Originally Posted by wiseambitions View Post
Yes,we're looking forward to any tweak which brings improvements


The trouble is the euro looks like it's in death throes these days and it makes nonsense of the technicial indicators which might have used to work
And a win, after 6 hours, Monday night restored most of us to the situation as of last Wednesday morning, compensating 2 losses.

It was close though! I reckon if TP had been a pip or two more it wouldn't have worked like that.

The win also does good to the longer term running averages, e.g. 100 day MA, but we need one or two more quickly to give convincing signs of progress.

Best luck for the rest of the week, EDT usually repays its debts........
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Old Dec 13, 2011, 12:29pm   #85
 
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Re: Euro Daily Trader

Quote:
Originally Posted by wiseambitions View Post
EDT usually repays its debts........
Thanks for that Wise.

No pressure then?

Mike
The Forex Club
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Old Dec 13, 2011, 12:55pm   #86
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread
Quote:
Originally Posted by TheForexClub.eu View Post
Thanks for that Wise.

No pressure then?

Mike
The Forex Club

Hi Mike

Well it owes me one or two wins.
I'm trying to work on what sort of broker suits this system best as there is diversity with the outcomes between users.
Not only one with low spread but quick execution and no slippage.
Initial findings say market makers rather than ECN/STP give better results

Concerned a bit that the 40tp if I were running the new EA might have missed me three TPs lately, including two days when 39 missed the goal and 38 would have been ok.

Update 9pm Tuesday

v3.0 took a short trade
Hit SL by a slim margin else would have got TP with ECN account

Small MM broker account achieved TP. Note I said small, most of my money was on the other sort!

I heard that people with v3.5 had a mixture of no trade and BE+9

The reason v3.0 didn't knock out at BE-1 was that the price didn't retrace that far.

So a funny day really, all scenarios of No trade, BE + 9 and TP were possible giving a range of nearly 60 pips.

Can somebody please convince me whether these experiences cancel each other out to give a similar long term gain?????

Last edited by wiseambitions; Dec 13, 2011 at 10:17pm.
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Old Dec 14, 2011, 11:35am   #87
 
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Joined Oct 2011
Re: Euro Daily Trader

Hey Wise, I had a similar experience. I guess the signal difference between NT and Short would be a broker related issue. For me, the signal came up as 'No Trade' but placed a trade anyway (!!??) then TP'd at BE+9. Mike, can you provide some update on the new workings and behaviours of 3.5? I know this release was brought forward as the 3.0 was clearly heading towards crash and burn - but are there some further updates to come to knock the rough edges off this release? Other than that, am encouraged that 3.5 is at last not going long when the market is clearly going short, so signal reading looks an improvement..! Time will tell for all of us that continue to keep the faith....
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Old Dec 14, 2011, 1:00pm   #88
 
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Re: Euro Daily Trader

DIFFERENT RESULTS

This is the hot topic of conversation this morning as conflicting signals gave different results. Monday also gave different results as most hit full TP of 40 pips but a few hit the new +9 sl line on the retrace.

The fact is, this issue has very little to do with this EA (or any other EA for that matter) and everything to do with broker differences. I have been reading a lot of comments about MDP recently which really demonstrates this point. Of all their users, and there seems to be a lot, I have not yet found two traders who got the same result on any given day!

I would like to share this article with you (see below), which discusses this subject and concludes with the line:

"...it becomes obvious that having the same results amongst all the different brokers will be quite impossible..."

I think that just about sums it up.

Understanding Broker Dependency: What Makes Results Different From One Broker to Another | Mechanical Forex

Mike
The Forex Club
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Old Dec 14, 2011, 3:48pm   #89
Joined Oct 2010
Re: Euro Daily Trader

wiseambitions started this thread Ok, having been told "having the same results amongst all the different brokers will be quite impossible" I still think it would be useful to better understand what it is causes these differences and to what extent the user can control this other than change brokers

There are 2 aspects
1) Signals. The situations where the indicators are on a knife edge eg some people go long others go short, I contend is still due to the EA and the indicators it uses. For example if a system requires 2 or a majority of indicators to be a certain value then the biggest difference is more likely to be some will have a signal and others will get no trade, (potential difference less than 20 pips) not for one man to go short when another goes long (potential difference nearly 60 pips). v3.0 evidently relied on one main indicator and the possibility of the reading being more or less than the dividing line eg 0.00 or 100.0 gave rise to what we've seen where some people going long others going short. And it is due to spikes with individual brokers and changes in spreads that these indicators come up with minutely different readings.


2) The trade. If there is a latency between the client and the broker there can be a difference in the starting price. And that is going to affect SL and TP and BE settings which are applied to the actual start price. The outcome also depends on spikes and spreads and delays in the execution of the close. Which brings me back to an observation that maybe Market Makers are better suited to this system as they are less likely to be source of slippage, both on opening and closing, and probably also work with fixed spreads.

I stand to be corrected on any of these thoughts, and come back to the point that once you have the right hardware and preferably a good VPS then the choice of broker is probably the only variable under the control of the user.

Last edited by wiseambitions; Dec 14, 2011 at 7:03pm.
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Old Dec 15, 2011, 5:32pm   #90
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Re: Euro Daily Trader

wiseambitions started this thread Um?
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