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Daily95pips

  • #1,401
  • Dec 30, 2007 7:19pm Dec 30, 2007 7:19pm
Quoting The_One
Is anyone trading this system with real money???
I was - that coincided with the start of two weeks of losses. Just bad luck I suppose, but enough to make me watch for a little while longer before going live again.

Here is the reservation I have about the system. A +95 is difficult to achieve, whilst a -90 happens the moment a market moves decisively against the trade and triggers the sl of all three orders.

Intellectually, it is difficult to argue against the profits consistently shown by the system. The fact is, all I did was lose money.

None of this is intended as a criticism of MikeLath or anyone else here. They control the markets no more effectively than I do.

  • #1,402
  • Dec 31, 2007 10:50am Dec 31, 2007 10:50am
Great question!
I've made lots in Demo accounts and lost in Real Money accounts. Seems to make a big difference and I believe someone or some software takes our SL for profits. It would be great to hear from others.
Romeo
  • #1,403
  • Dec 31, 2007 11:04am Dec 31, 2007 11:04am
I traded with real money; didn't lose too much, but I had losses nonetheless. I like the concept of the system and will continue to trade in demos. Truth be told, I did not have much practice with it in a demo to begin with. The losses were probably due to operator error and no so much the system itself, but using an EA is pretty much straight forward.

Still think you rock mikelath!
  • #1,404
  • Dec 31, 2007 5:28pm Dec 31, 2007 5:28pm
Wonder if Mikelath himself is putting some real cash on the line??
Vouch me and I vouch you back !
  • #1,405
  • Dec 31, 2007 5:52pm Dec 31, 2007 5:52pm
So begins the comparative between the settings of D95P and PipNick.

Date: Monday 31 December 2007
Daily95pips:________________________PipNick:
EURJPY -90________________________EURJPY -90
USDJPY +95_______________________EURUSD -90
EURUSD -90_______________________GBPUSD +45

Total: -85pips_____________________Total: -135pips

Comment: Not such a great day for either one.
  • #1,406
  • Dec 31, 2007 6:13pm Dec 31, 2007 6:13pm
Quoting The_One
Wonder if Mikelath himself is putting some real cash on the line??
Hi all. Those who have been following this thread closely will know that I'm yet to commit any live funds to this strategy and as mentioned in post#1 I do not encourage anyone to do so until thorough testing of this system has been done.
I understand that it's sometimes hard to resist the temptation of 'jumping in' and there have been numerous occasions when I've been on the verge of going live myself.
In a recent post I mentioned that I was almost ready to go live, however I've chosen to hold off for another 2-3 weeks until the comparative between the D95P and PipNick settings shows some conclusive results.
One lesson I've learnt from forex trading is that a surefire recipe for failure is to dabble for a short period in any given system, pull out when experiencing some drawdown thus concluding that it's an unprofitable system, and then move onto another system to repeat the same process again. People, you will undoubtedly lose money following this approach.
I consider it a better option to be a little more patient and test a system as thoroughly as possible before being convinced of taking the next step of going live. Even if the live experience is different to the demo trading I'll be rest assured that I allowed sufficient time for testing first.

rgs
mike
  • #1,407
  • Jan 1, 2008 2:46am Jan 1, 2008 2:46am
Quoting bjk2801
Are you results based on the original Fall EA settings on these 3 pairs? or did you make adjustments? Thanks.
Just calculating Mike results only
another view
  • #1,408
  • Jan 1, 2008 11:16am Jan 1, 2008 11:16am
Hello all, can anyone please help me understand why my backtest is not matching anything here? I posted some sample information in post 1396. I dont think its a daystarttime issue anymore since it is set to 0, which should be correct for NF. I would really appreciate anyones help in this.

Thank you in advance
  • #1,409
  • Jan 1, 2008 11:25am Jan 1, 2008 11:25am
Time to throw in my two cents worth...

You can back test and forward test in a demo accounts all you want - everything ALWAYS varies when you start putting real money on the line.

Why - because there are just too many variables - the market is ALWAYS changing. We try to identify and exploit common patterns and characteristics, but nothing is a for sure thing. It could all change tomorrow. If you do not understand or are not comfortable with this simple fact, then you are investing in the wrong place.

The broker I use will allows me to enter orders as small as .01 lots. That is 10 cents per pip on the line or risking 9.00 per day to trade the 3 pairs with the EA live as Mike has laid it out. Now I realize that every broker will not allow you to enter such small live orders...

- BUT IF THEY DO AND IF YOU ARE NOT TRADING THIS SYSTEM LIVE -
then take my advice and find some system you are willing to risk 9.00 per day on and quit wasting your time on this thread. There are other systems out there that might better fit your trading style in this forum alone.

Happy New Year - 2008 promises to be a year filled with opportunities to capture as many pips as you can handle. You just have to find or develop a system that fits your trading style and run with it...
  • #1,410
  • Jan 1, 2008 11:32am Jan 1, 2008 11:32am
Thank you tsquad. even with the broker variables would it be so extreme that this EA would show substantial losses in sample backtest?

I have a feeling I may just not be doing something incorrectly. Any help would be fantastic

happy new year everyone!!!
  • #1,411
  • Jan 1, 2008 1:52pm Jan 1, 2008 1:52pm
Quoting mikelath
Hi all. Those who have been following this thread closely will know that I'm yet to commit any live funds to this strategy and as mentioned in post#1 I do not encourage anyone to do so until thorough testing of this system has been done.
I understand that it's sometimes hard to resist the temptation of 'jumping in' and there have been numerous occasions when I've been on the verge of going live myself.
In a recent post I mentioned that I was almost ready to go live, however I've chosen to hold off for another 2-3 weeks until the comparative between the D95P and PipNick settings shows some conclusive results.
One lesson I've learnt from forex trading is that a surefire recipe for failure is to dabble for a short period in any given system, pull out when experiencing some drawdown thus concluding that it's an unprofitable system, and then move onto another system to repeat the same process again. People, you will undoubtedly lose money following this approach.
I consider it a better option to be a little more patient and test a system as thoroughly as possible before being convinced of taking the next step of going live. Even if the live experience is different to the demo trading I'll be rest assured that I allowed sufficient time for testing first.

rgs
mike
hello
do you use fall version ea to set order or set handly?
thanks
  • #1,412
  • Jan 1, 2008 3:45pm Jan 1, 2008 3:45pm
Quoting rzamany
hello
do you use fall version ea to set order or set handly?
thanks
I'm using the North Finance Fall version EA.

rgs
mike:
  • #1,413
  • Jan 1, 2008 3:48pm Jan 1, 2008 3:48pm
Is there an EA for this strategy?
I am a mql4 coder.
Request custom Expert Advisor or Indicator: dostapyuk "at" gmail . com
  • #1,414
  • Jan 1, 2008 3:49pm Jan 1, 2008 3:49pm
Quoting mikelath
Daily95pips:


For the past 18 weeks:

EURJPY +1893
USDJPY +201
EURUSD +829

Total: +2923pips
Hello mike how are you? i have one question

Did you already include your spread in this results on each pair or no??

If you consider that all postions could be opened in one way every day, that means 3 positions/day, 15 positions/week and 120 positions/18 weeks.
But we must also consider that sometimes positions will not be open, because of flat!! On the other side positions could be open on both sides, That means 6 positions.

Spread at my broker cms:

EUR/JPY 4 pips
USD/JPY 3 pips
EUR/USD 3 pips


example EUR/JPY ( i will take 120 positions)

EURJPY +1893 120 posit. x 4 pip spread=480
REAL RESSULTS:1893-480= 1413pips



example USD/JPY ( i will take 120 positions)

USDJPY +201 120 posit. x 3 pip spread=360
REAL RESSULTS:201-360= -159pips



example EUR/USD ( i will take 120 positions)

EURUSD +829 120 posit. x 3 pip spread=360
REAL RESSULTS:829-360= 469pips


with spread
EURJPY +1893 -------> 1413 pips
USDJPY +201 -------> -159 pips
EURUSD +829 -------> 496 pips

Total: +2923pips ------> 1750 pips



 thank you in advance,
good luck,

Grega
  • #1,415
  • Edited Jan 2, 2008 5:11pm Jan 1, 2008 10:47pm | Edited Jan 2, 2008 5:11pm
,
  • #1,416
  • Edited 5:29pm Jan 2, 2008 6:12am | Edited 5:29pm
the comparative between the settings of D95P and PipNick
---------------------------------------------------------
From 2008/01/02-To Now
---------------------------------------------------------
For D95P Rules:
(IBFX MINI DEMO)
Login : 1782385
Investor : esgs8fa
--------------------------------------------------------
For PipNick Rules:
(IBFX MINI DEMO)
Login : 1782354
Investor : noq4cmb
-------------------------------------------------------
  • #1,417
  • Jan 2, 2008 9:11am Jan 2, 2008 9:11am
see my question inside quote.

Quoting warrior
the comparative between the settings of D95P and PipNick
---------------------------------------------------------
From 2007/01/02-To Now 2007 or 2008 ?
---------------------------------------------------------
For D95P Rules:
(IBFX MINI DEMO)
Login : 1782385
Investor : esgs8fa
--------------------------------------------------------
For PipNick Rules:
(IBFX MINI DEMO)
Login : 1782354
Investor : noq4cmb
-------------------------------------------------------
  • #1,418
  • Jan 2, 2008 9:12am Jan 2, 2008 9:12am
warrior. do you have EA for pipnick or do you trade manually?
  • #1,419
  • Edited Jan 3, 2008 2:40pm Jan 2, 2008 3:03pm | Edited Jan 3, 2008 2:40pm
So begins the comparative between the settings of D95P and PipNick.

Date: Monday 31 December 2007
Daily95pips:_______________________ _PipNick:
EURJPY -90________________________EURJPY -90
USDJPY +95_______________________EURUSD -90
EURUSD -90_______________________GBPUSD +45

Total: -85pips_____________________Total: -135pips

Comment: Not such a great day for either one.

Date: Tuesday 1 December 2008
**No trades due to New Years Day**

Date: Wednesday 2 January 2008
Daily95pips:________________________PipNick:
EURJPY +45_______________________EURJPY +45
USDJPY -90_______________________EURUSD nt
EURUSD nt________________________GBPUSD -45

Total: -45pips_____________________Total: 0pips

Comment: Though the yen crosses continue to the downside USDJPY again threw a spanner in the works for D95P.

Date: Thursday 3 January 2008
Daily95pips:___________________________PipNick:
EURJPY -90___________________________EURJPY +95
USDJPY +15__________________________EURUSD -45
EURUSD +15__________________________GBPUSD +95

Total: -60pips________________________Total: +145pips

Comment: PipNick starts to pull away from the pack....



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  • #1,420
  • Jan 2, 2008 5:43pm Jan 2, 2008 5:43pm
Hi,
I'm using the IBFX Finance Fall version EA with a little modification(PipNick's Rules), and using the IBFX Finance Fall version EA with no modification.(Mikelath's Rules), thanks.

Quoting smilee89
warrior. do you have EA for pipnick or do you trade manually?
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