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4X-DAT

  • #161
  • Nov 6, 2014 5:56pm Nov 6, 2014 5:56pm
Had several closes on all accounts. Stats below. The "Started On" dates are wrong in that in the MyFxBook system it is based on when the account was opened not when it was linked to the software.

I will begin posting using the Systems screen from MyFxBook as I like the presentation better. Here are the real start dates and Strategies for each account:

Thud88: 15 Aug 2014; Strategy 8; Moderate
IRA: 6 Oct 2014; Strategy 8; Moderate
Gaga11: 3 Nov 2014; Strategy 9; Conservative

Note that tech support loaded the incorrect Strategy in Gaga11 but it has been on fire...four Globals in four days...we may stick with it!

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  • #162
  • Nov 7, 2014 4:08am Nov 7, 2014 4:08am
Hi Zoo

great...thanks for sharing....all looks good so far!

Good Luck!

Alex
  • #163
  • Nov 8, 2014 12:24am Nov 8, 2014 12:24am
Hey guys seems to be recovering nicely form the other week where broker shut down. Happy so far
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  • #164
  • Nov 9, 2014 11:52am Nov 9, 2014 11:52am
Thanks for posting bud

what stragety are you using
  • #165
  • Nov 9, 2014 2:10pm Nov 9, 2014 2:10pm
what stragety are you using


I'm using hybrid 8 I think it use to be dat 5
  • #166
  • Nov 12, 2014 7:21pm Nov 12, 2014 7:21pm
Numerous GCs the past few days. Updated stats below:

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  • #167
  • Nov 12, 2014 7:35pm Nov 12, 2014 7:35pm
As we all watch the DAT trade our accounts more and more becomes obvious about the positives and negatives of the software. I've been pleased with the open dialogue and honesty with most contributors to date to this thread.

One of the things I've learned is that between the trade execution of the DAT and the actual trades occurring at the broker, much of what the DAT considers profit is NOT registered with the broker. We all know about spreads, but there seems to be a number of broker issues that result in less money being deposited to our accounts than what we see on the Closed Deals menu. My research has found this to be a combination of: 1. GLPT charging $1.00 for a round trip trade execution, 2. Spreads (of course), 3. Commissions, 4. Interest, 5. Slippage, 6. Rollover fees and 7. Re-quoting. It can reach significant proportions depending on account size and ones attitude towards the "cost of doing business". This term has been emailed to me by GLPT and in essence, I've discovered there really is nothing we can do about it.

While I don't necessarily like the idea that DAT tells me the software closed a sequence of trades at my Profit Target and then FXCM shows a lessor deposit, I DO like the fact that my accounts are growing. So, given the fact that my growth curves are sloping upwards...I've learned to live with the "scalping" (for lack of a better term). Perhaps the best way to think of it is in relation to a paycheck...namely, your take home pay never equals your gross pay.

In an effort to remain open and honest about the DAT, I've addressed this issue here for those who are, or may become, customers.

Below are the graphs of my three accounts where I have plotted what the DAT registers as a Global Closed Deals profit compared with what was actually deposited to my FXCM account.

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  • #168
  • Nov 12, 2014 8:07pm Nov 12, 2014 8:07pm
Quoting Zoopots
As we all watch the DAT trade our accounts more and more becomes obvious about the positives and negatives of the software. I've been pleased with the open dialogue and honesty with most contributors to date to this thread. One of the things I've learned is that between the trade execution of the DAT and the actual trades occurring at the broker, much of what the DAT considers profit is NOT registered with the broker. We all know about spreads, but there seems to be a number of broker issues that result in less money being deposited to our accounts...
Hi Z

That's some substantial discounting going on. You call it scalping....I call it Churning
Respect the inescapable certainity of Math
  • #169
  • Nov 12, 2014 9:45pm Nov 12, 2014 9:45pm
Quoting Agent Orange
{quote} Hi Z That's some substantial discounting going on. You call it scalping....I call it Churning
I called it another term that I won't use in public when I first noticed it...LOL. Just in the GLPT fee we all agree to when we type in "I AGREE" in the Trade Client, my three accounts have had 1500 trades closed which is $1500 that went to the company vault. You combine that with all the other avenues the broker has at their disposal and once again, the retail trader gets the short end of the stick. The bottom line is, however, I agreed to the charges when I decided to purchase a license and start trading with it.

In the end, I guess we have to be content with what the DAT gives us, not what it doesn't.

Z
  • #170
  • Nov 13, 2014 1:39am Nov 13, 2014 1:39am
It is still good to have these kind of issues like profit disparity comparing to my situation;started trading at the end of August; no single Global Close and constant DD, currently 27% and this kind of situation when you cannot do anything about it but just wait, when you know as a trader(I am one) that this type of money management is simply sick when you aim for 1% and allow for such a big DD but I can blame only myself as I have not done proper due diligence.
What is my biggest confusion about it is that some mentors of this software complained about lack of movement in currency pairs and my DAT experienced over 20% DD during the 1000 plus pips move up on G/J in recent weeks and my question to GLPT was simply ignored and Mr Harris said to wait for pull buck on this pair which is correct because decent move down could allow me for GC however every move up wipes down my account more and my second question about if it was normal situation was ignored as well which speaks volume.
Thanks for some people from this forum for answers but why one should not rely on answers form back office , sponsors etc.
  • #171
  • Nov 13, 2014 2:04am Nov 13, 2014 2:04am
Great information zoo....thank you
  • #172
  • Nov 13, 2014 2:17am Nov 13, 2014 2:17am
Quoting krisMtrader
It is still good to have these kind of issues like profit disparity comparing to my situation;started trading at the end of August; no single Global Close and constant DD, currently 27% and this kind of situation when you cannot do anything about it but just wait, when you know as a trader(I am one) that this type of money management is simply sick when you aim for 1% and allow for such a big DD but I can blame only myself as I have not done proper due diligence. What is my biggest confusion about it is that some mentors of this software complained...
I Have to admit many of my questions to GLPT go unanswered. Their ability to respond to emails is pathetic
Respect the inescapable certainity of Math
  • #173
  • Nov 14, 2014 8:16am Nov 14, 2014 8:16am
Hi
Same here on my side. Support at GLPT is not responding on anything for weeks. KrisMtrader is good in comparison to me, since I have more than 90% of a draw down. No one seems to be responsible for that draw down.

Quoting Agent Orange
{quote} I Have to admit many of my questions to GLPT go unanswered. Their ability to respond to emails is pathetic
  • #174
  • Nov 14, 2014 8:24am Nov 14, 2014 8:24am
Don't forget that there is Ģ6.00 commision for each full round turn lot traded. I think that this is biggest cause for difference what DAT is showing and what broker is showing.
Go check forex pricing on FXCM web site.

Quoting Agent Orange
{quote} Hi Z That's some substantial discounting going on. You call it scalping....I call it Churning
  • #175
  • Nov 14, 2014 10:20am Nov 14, 2014 10:20am
@ Zoopots,

Hi, and thank you very much for your info and your efforts.

Itīs strange that you have this rather big difference (which you explained very well) between the Dat and your real account. I watch most of the webinars that Craig Harris is hosting on Mondays. He has the same amount on the Dat as on the real account!!! How is that possible, I wonder....

/Mash.

Quoting Zoopots
As we all watch the DAT trade our accounts more and more becomes obvious about the positives and negatives of the software. I've been pleased with the open dialogue and honesty with most contributors to date to this thread. One of the things I've learned is that between the trade execution of the DAT and the actual trades occurring at the broker, much of what the DAT considers profit is NOT registered with the broker. We all know about spreads, but there seems to be a number of broker issues that result in less money being deposited to our accounts...
  • #176
  • Nov 14, 2014 1:02pm Nov 14, 2014 1:02pm
Quoting Mash 4077
@ Itīs strange that you have this rather big difference (which you explained very well) between the Dat and your real account. I watch most of the webinars that Craig Harris is hosting on Mondays. He has the same amount on the Dat as on the real account!!! How is that possible, I wonder.... /Mash. {quote}
I have always wondered what the motive is for doing that. All it really proves is that the DAT software is connected and "communicating" with the FXCM server. It gives people the impression that every dollar the DAT software makes is deposited into our accounts. Soooooo NOT TRUE!. So the balance that FXCM is showing in real time should ALWAYS be what the DAT Broker window displays. (See Post 127) To see this live, here's my original account:

Software Broker Balance:
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FXCM balance:
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What we're talking about here is the disparity between what FXCM shows as account balance and what the DAT software reports as profit. Compare the values shown in the pictures above to what the Closed Deals window shows below for the life of my account. All the issues discussed in Post 167 result in a difference of $167.95. ($1032.62 minus $864.67) on an opening deposit of $5K.

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  • #177
  • Nov 17, 2014 11:37am Nov 17, 2014 11:37am
Hi Zoopots,
Great posts. Always enjoy reading the information provided here. Its a similar story from this side of the pond, GLPT seem reluctant to answer email queries.

I wanted to ask a simple question, Ive been on board with 4XDAT since March this year and at the time had to go with MBT as the nominated broker. From what I have read to date, most appear to be with FXCM now. Do you know who is with MBT or should I say which 4XDAT members are linked to MBT rather than FXCM?

Does anyone know if its feasible to have 4XDAT setup to trade with both brokers?

Thank you in advance
Click2earn
  • #178
  • Nov 17, 2014 8:19pm Nov 17, 2014 8:19pm
Quoting click2earn
Hi Zoopots, Great posts. Always enjoy reading the information provided here. Its a similar story from this side of the pond, GLPT seem reluctant to answer email queries. I wanted to ask a simple question, Ive been on board with 4XDAT since March this year and at the time had to go with MBT as the nominated broker. From what I have read to date, most appear to be with FXCM now. Do you know who is with MBT or should I say which 4XDAT members are linked to MBT rather than FXCM? Does anyone know if its feasible to have 4XDAT setup to trade with both...
I believe all of the contributors to this thread do not have the inside connections to say how many DAT traders are with MBT. I suspect only Joseph and his staff have access to that.

Also, I believe if you wanted to trade with both brokers, it would require two separate licenses and accounts. Most likely because the servers for MBT and FXCM are not the same and I'm sure they view each other as competition.
  • #179
  • Nov 18, 2014 3:22am Nov 18, 2014 3:22am
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Hi
My Dat has been going now for 2 months. A couple of issues (apart from GLPT lack of response to emails)

The screen shot shows my 2 Global Closes which happened automatically. However there was a Global close which hit profit target but didn't automatically close, so next time the DAT hit profit target again (I was watching) I closed the deals manually, but the two free position trades didn't close....and are still open. I'm hoping my nest GC will sort this out. I have emailed support ...........but no response
Also why has Craig Harris stopped posting his webinars on DAT??
Respect the inescapable certainity of Math
  • #180
  • Nov 18, 2014 7:30am Nov 18, 2014 7:30am
Quoting Agent Orange
{image} Hi My Dat has been going now for 2 months. A couple of issues (apart from GLPT lack of response to emails) The screen shot shows my 2 Global Closes which happened automatically. However there was a Global close which hit profit target but didn't automatically close, so next time the DAT hit profit target again (I was watching) I closed the deals manually, but the two free position trades didn't close....and are still open. I'm hoping my nest GC will sort this out. I have emailed support ...........but no response Also why has Craig Harris...
Murray,

On your Open Deals menu is the "Ignore Free Positions for CAD functions" checked? (see pic below)

Attached Image


I've been trying to get information on the situation you described above. I noticed my Thud89 account above my profit target and not triggering a GC. So I manually selected "Close ALL Deals" on the Open Deals menu and all Deals closed for a small negative amount. I thought that was really weird and then noticed a few days later that a position that had a trailing stop attached closed and was posted with the group of trades I manually closed and then the total profit for the entire sequence was at my Profit Target. Queries to support....as usual....you guessed it....went unanswered. So I'm thinking that any position the software sees as "Free" (meaning in profit with a trailing stop) only close when the S/L is hit. However, the weird thing about my manual CAD command is that the date and time of close for all the positions is the same. So, I don't get it. Maybe we're not supposed to know!

As to Harris webinars...not sure what his schedule is or why he's not hosting them on a regular basis. I stopped watching them as the information is geared for new customers and more detailed questions do not get answered or receive an "I don't know" reply. His account is currently down 61%...perhaps he's not doing webinars with that draw down because of the negative publicity...I don't know.
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