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FX Dealer Performance

  • #21
  • Edited 5:21am Jul 20, 2004 4:04am | Edited 5:21am
Quoting vamsi
Thanks for your info mkcky, I wud like to discuss few things about this with you, Can i please chat with you on yahoo messenger if you dont mind?

Thank you
Hi Vamsi,

I would chat on yahoo only if its absolute necessary. If you have questions please post it on fourm, so that everyone can benifit from it. if there is something which you dont want to expose to public, send me a private message and I would be very glad to answer it.


Mkcky
Lets Make Money!!!
  • #22
  • Jul 20, 2004 4:16am Jul 20, 2004 4:16am
Quoting Mkcky
Hi Vamsi,

I would chat on yahoo only if its absolute necessary. If you questions please post it on fourm, so that everyone can benifit from it. if there is something which you dont want to expose to public, send me a private message and I would be very glad to answer it.


Mkcky

Alright, sent a private message, please check your private messages.

Thank you
  • #23
  • Edited 6:28am Jul 20, 2004 6:00am | Edited 6:28am
Quoting Mkcky
Fx-Dealer perfromance for 19 July

As per rule I have traded two lots, first lot is closed at +20 pips. Secound lot is closed only when I get a signal to close it or if hits default Take profit, which is 75 Pips.

Buy USDCAD at 1.3088 (Trade still open): +1 +1 = 2 Pips
Sell GBPUSD at 1.8732 TP 1.8702: +20+32= 52 Pips
Buy EJP at 134.50 TP 135.10: +20+60= 80 Pips
Buy GBPUSD at 1.8685 SL 1.8645: -40-40= -80 Pips

Total profit Trading 2 lots is 54 pips. Total profit per lot is +27 Pips.


Mkcky
Hi Mkcky,

good job and thanks for the report. Now, is this +27 pips how they report their official results? That is a profit/loss in pips per lot? Any idea in this matter?

Thanks.
  • #24
  • Jul 20, 2004 7:00am Jul 20, 2004 7:00am
Quoting fx_electron
Hi Mkcky,

good job and thanks for the report. Now, is this +27 pips how they report their official results? That is a profit/loss in pips per lot? Any idea in this matter?

Thanks.
Hi Fx_electron,

I am still not clear how they will report on the website. But I expect it be approx same range.

Mkcky
Lets Make Money!!!
  • #25
  • Jul 20, 2004 8:02am Jul 20, 2004 8:02am
Quoting Mkcky
Hi Fx_electron,

I am still not clear how they will report on the website. But I expect it be approx same range.

Mkcky
Yes that's how they will report it.
Bear in mind that they will use a stop loss of 35pips.
However they recommend a stop loss of up to 40 depending on your broker.
e.g with FXCM I got stopped out from time to time at 35pips, while I was still in the trade with an institutional broker using a 35pip stop loss (refcosingapore)
This happened a lot with EUR/JPY.
So on a few occasions, it might happen that you have a loss while fx-dealer is still in the trade.
  • #26
  • Jul 20, 2004 9:18am Jul 20, 2004 9:18am
Quoting sidekick
Yes that's how they will report it.
Bear in mind that they will use a stop loss of 35pips.
So the total actual number of pips (assuming two lots) is twice the average they report, correct?

Now, is the 35 pip stop loss the same for all the pairs they trade or does it vary across them?

Thanks.
  • #27
  • Edited 11:05am Jul 20, 2004 10:47am | Edited 11:05am
Quoting firedave
Here's what I have from their site about the trading rules :

- Default Stop-Loss is 35 points.

- Default Target1 = 30 points, Target2 = 80 points.

- We recommend to partly close position when Target1 was reached and move stop to the entry level.

- Re-enter shorts/longs from 30 pips (35-45 pips in case of sharp movement) better levels if position was partly closed and stopped at the entry level.

- Entry/exit orders are based on 2 pips market spread for EURUSD; 2-3 pips spread for others.

- In case of the sharp movement at the moment real-time signal was issued we reserve the right to enter from the current price and set stop/targets according to the actual entry level.

- We recommend to set stop-orders by 3-5 pips farther from our stops to avoid stop-orders execution on stop-loss hunting spikes.

- Entry orders are given as 5 pips range. Try to enter from better levels inside of the range if the price is moving sharply towards entry levels.

- All entry orders are only valid during the current week and should be canceled ahead of the weekend.

If there is something missing please revise it.

Hope it will help us.

Hi Dave,

I am afraid to tell you that you are having wrong information. This are the contents I got from their website today.

-Default Stop-Loss is 40 points. We recommend to set stop-orders by 3-5 pips farther from our stops to avoid stop-orders execution on stop-loss hunting spikes.

-Default Target1 = 20 points, Target2 = 75 points.

-We recommend to partly close position when Target1 was reached and move stop to the entry level minus 1-2 points.

-Entry/exit orders and real-time signals are based on 2 pips market spread for EURUSD; 2-3 pips spread for others.

-In case of the sharp movement at the moment real-time signal was issued we reserve the right to enter from the current price and set stop/targets according to the actual entry level.

-Entry orders are given as 5 pips range. Try to enter from better levels inside of the range if the price is moving sharply towards entry levels.

-All entry orders are only valid during the current week and should be canceled ahead of the weekend.

Mkcky
Lets Make Money!!!
  • #28
  • Jul 20, 2004 11:04am Jul 20, 2004 11:04am
Hohohoho
The one I have is 3 weeks old, where I started my 2 weeks trial. Thank you for your revision. So nice to have you evaluate the signal.
  • #29
  • Jul 20, 2004 1:12pm Jul 20, 2004 1:12pm
Quoting Mkcky
Hi Dave,

I am afraid to tell you that you are having wrong information. This are the contents I got from their website today.

[b]-Default Stop-Loss is 40 points. We recommend to set stop-orders by 3-5 pips farther from our stops to avoid stop-orders execution on stop-loss hunting spikes.

-Default Target1 = 20 points, Target2 = 75 points.

-We recommend to partly close position when Target1 was reached and move stop to the entry level minus 1-2 points.

Mkcky
Is it really so? Hmm... then I don't understand something here.

Here is their performance for the last week:
---------------
13-Jul-04 BUY USDCHF 1.2295 SELL 1.2370 PL = +75
13-Jul-04 BUY USDCAD 1.3255 SELL 1.3215 PL = - 40
13-Jul-04 BUY USDCAD 1.3202 SELL 1.3222 PL = +20
14-Jul-04 BUY USDCHF 1.2262 SELL 1.2292 PL = +30
14-Jul-04 SELL GBPUSD 1.8599 BUY 1.8539 PL = +60
14-Jul-04 SELL GBPUSD 1.8567 BUY 1.8547 PL = +20
14-Jul-04 SELL USDJPY 109.03 BUY 109.43 PL = - 40
14-Jul-04 BUY EURJPY 135.05 SELL 135.40 PL = +35
14-Jul-04 SELL GBPUSD 1.8576 BUY 1.8516 PL = +60
15-Jul-04 BUY GBPUSD 1.8511 SELL 1.8531 PL = +20
16-Jul-04 BUY USDJPY 109.44 SELL 109.64 PL = +20

Total +155 points
---------------

If they add partial profits (20+75), take the average and report it as their result they will never get anything bigger than (20+75)/2=47.5. So how come that they are getting 75 or 60 in this table? They can get these numbers only if what they actually report is the total sum for 2 lots. On the other hand their losess seem to be reported as the average per lot (-40) and not the sum (-80) assuming that the initial stop-loss was hit. Of course, it could have also been been that they have moved their stop-loss to -20 in which case the -40 pip losess are the total for the 2 lots. So which really is it? Are these numbers the sum for two lots or the averages for two lots? Clearly, if they follow their rules of taking partial profits, these cannot be averages, but then are the -40 pip losses also sums or averages?

And if you add these numbers up, you end up with 260 and not 155!!! 2*155 is not 260, as you might have hoped for. Why is it so complicated? Not to mention that adding all these points up does not make much sense as they come from different pairs (different pip values) and so it's like adding apples and oranges.

The proper way is to show the total of all pips for individual pairs for 2 lots.
I hope that you guys-testers will do just that so that we can really get a clear idea of what's really going on.
  • #30
  • Jul 20, 2004 2:03pm Jul 20, 2004 2:03pm
I dont really know the answer of fx_electron question, I just remember that I once meet with miscalcutate sum in fx-dealer result page. I think the result is good, it's just the sum is wrong. All result should be base on 1 lot per trade.

Any comment here ?
  • #31
  • Jul 20, 2004 2:11pm Jul 20, 2004 2:11pm
When i look at the fx-dealer performance in the website.
for example

13-Jul-04 BUY USDCHF 1.2295 SELL 1.2370 PL = +75

how come they can claim that they get 75 pips since they already cut half of the position at 20 pips. i sense something fishy here. And the stop loss is true. 40 pips. any comment?
  • #32
  • Jul 20, 2004 2:16pm Jul 20, 2004 2:16pm
Quoting zackyat
When i look at the fx-dealer performance in the website.
for example

13-Jul-04 BUY USDCHF 1.2295 SELL 1.2370 PL = +75

how come they can claim that they get 75 pips since they already cut half of the position at 20 pips. i sense something fishy here. And the stop loss is true. 40 pips. any comment?
http://www.forexfactory.com/forexfor...=2833#post2833
  • #33
  • Edited 2:20pm Jul 20, 2004 2:17pm | Edited 2:20pm
Quoting zackyat
When i look at the fx-dealer performance in the website.
for example

13-Jul-04 BUY USDCHF 1.2295 SELL 1.2370 PL = +75

how come they can claim that they get 75 pips since they already cut half of the position at 20 pips. i sense something fishy here. And the stop loss is true. 40 pips. any comment?
That's exactly what I am talking about... I am not a big fan of something as complex as this. Is this supposed to be a demonstration of Godel's theorem or what? Why adding integers has to be so complicated?
  • #34
  • Edited 3:37pm Jul 20, 2004 3:26pm | Edited 3:37pm
Yes Fxdealer has put their performance in very complicated way.

What I am trying to do is trade 2 lots, as per their trading rules. In my performance report I have clearly mentioned the profit/loss from each lot .

We will compare it with their website on week end.

Mkcky
Lets Make Money!!!
  • #35
  • Jul 21, 2004 5:35am Jul 21, 2004 5:35am
FX-Dealer Performance 20th July 2004

Buy GBPUSD 1.8640 SL 1.8600: -40 -40 = -80
Buy USDCHF 1.2282 TP 1.2349: +20 +67= +87
Buy GBPUSD 1.8544 TP1.8574: +20 +30= +50
Buy GBPUSD 1.8563 TP 1.8523: -40 -40= -80
Buy USDJPY 108.36 TP:108.76: +20 +36= +56
Buy USDCAD 1.3135 SL:1.3096: -40 -40= -80
Buy EURUSD 1.2378 SL:1.2338: -40 -40= -80
Buy USDCAD 1.3092 TP:1.3132: +20 +35= +55
Sell GBPUSD 1.8563 TP:1.8498: +20 +60= +80
Buy USDCHF 1.2373 TP:1.2448: +20 +75= +95
Buy EUR/USD 1.2378 SL:1.2338:-40 -40= -80
Buy USDCHF 1.2445 TP 1.2455: +10 +10= +20
Buy GBPUSD 1.8507 TP 1.8561: +20 +54 = +74
Buy USDCAD 1.3125 SL 13125: +20 +0 = +20
Buy EUR/JPY 133.92 SL 133.52:-40 -40 = -80
Buy GBPUSD 1.8503 TP 1.8534: +20 +31= +51

Total Profit for 2 lots is +108 pips. Profit per lot is +54 Pips

Total Number of trades: 16
Number of winning Trades: 10
Number of loosing Trades: 6
Winning Ratio: 62.5 %
Average Pips per winning trade: +60.8
Average pips per loosing trade: -80

Mkcky
Lets Make Money!!!
  • #36
  • Edited 7:51am Jul 21, 2004 7:34am | Edited 7:51am
Mkcky,

Thanks for posting these results.

Quoting Mkcky
FX-Dealer Performance 20th July 2004

Total Profit for 2 lots is +108 pips. Profit per lot is +54 Pips
Not all pips are equal (eg, 1 USDCHF pip = 0.78 EURUSD pip) so I've converted your results into EURUSD pips. I find this helpful when comparing different signal providers and strategies as my account is in USD dollars and I can work out directly my profit/loss for the day.

Buy GBPUSD 1.8640 SL 1.8600: -40 -40 = -80 == -80 EURUSD pips
Buy USDCHF 1.2282 TP 1.2349: +20 +67= +87 == +69.6 EURUSD pips
Buy GBPUSD 1.8544 TP1.8574: +20 +30= +50 == +50 EURUSD pips
Buy GBPUSD 1.8563 TP 1.8523: -40 -40= -80 == -80 EURUSD pips
Buy USDJPY 108.36 TP:108.76: +20 +36= +56 == +51.5 EURUSD pips
Buy USDCAD 1.3135 SL:1.3096: -40 -40= -80 == -60.8 EURUSD pips
Buy EURUSD 1.2378 SL:1.2338: -40 -40= -80 == -80 EURUSD pips
Buy USDCAD 1.3092 TP:1.3132: +20 +35= +55 == +41.8 EURUSD pips
Sell GBPUSD 1.8563 TP:1.8498: +20 +60= +80 == +80 EURUSD pips
Buy USDCHF 1.2373 TP:1.2448: +20 +75= +95 == +76 EURUSD pips
Buy EURUSD 1.2378 SL:1.2338:-40 -40= -80 == -80 EURUSD pips
Buy USDCHF 1.2445 TP 1.2455: +10 +10= +20 == +16 EURUSD pips
Buy GBPUSD 1.8507 TP 1.8561: +20 +54 = +74 == +74 EURUSD pips
Buy USDCAD 1.3125 SL 13125: +20 +0 = +20 == +15.2 EURUSD pips
Buy EURJPY 133.92 SL 133.52:-40 -40 = -80 == -73.6 EURUSD pips
Buy GBPUSD 1.8503 TP 1.8534: +20 +31= +51 == +51 EURUSD pips

For a grand total of 70.7 EURUSD pips for 2 lots. Profit per lot is +35.4 Pips

Cheers,
Patrick
  • #37
  • Jul 21, 2004 7:48am Jul 21, 2004 7:48am
Quoting pdcruze
Mkcky,

Not all pips are equal (eg, 1 USDCHF pip = 0.78 EURUSD pip) so I've converted your results into EURUSD pips. I find this helpful when comparing different signal providers and strategies as my account is in USD dollars and I can work out directly my profit/loss for the day.
When trading with fx-dealer, I add 2 mini-lots to a USD/CHF trade in order to compensate for the lower pipcost.
  • #38
  • Jul 21, 2004 10:00am Jul 21, 2004 10:00am
Sidekick,
The person from fx-dealer , Igor, said that

"80% of signals are send during late London and US sessions, from 10:00 to 20:00 GMT."

Is it right according to your experience? So it is equal to 5 am to 3 pm EST
right?
  • #39
  • Jul 21, 2004 11:03am Jul 21, 2004 11:03am
Quoting zackyat
Sidekick,
The person from fx-dealer , Igor, said that

"80% of signals are send during late London and US sessions, from 10:00 to 20:00 GMT."

Is it right according to your experience? So it is equal to 5 am to 3 pm EST
right?
Yes, it is from 10.00 to 20.00 GMT

No, that should be 06.00 to 16.00 EST ( i think )
  • #40
  • Edited 11:22am Jul 21, 2004 11:15am | Edited 11:22am
Quoting pdcruze
Mkcky,

Thanks for posting these results.

Not all pips are equal (eg, 1 USDCHF pip = 0.78 EURUSD pip) so I've converted your results into EURUSD pips. Cheers,
Patrick
Thanks Patrick,

But if you want to compare it with Fx-dealer website you have to use my figures as they calcuate it the way I do.

Mkcky
Lets Make Money!!!
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