4X-DAT

Hi Z

So.......do you think I should uncheck the "Ignore Free Positions for CAD functions" because on my DAT this is currently ticked. It does explain the situation so thanks

https://www.tastytrade.com/tt/shows/...4?locale=en-US


YEN

I did not uncheck it on mine because normally the Free positions are in profit with a trailing stop so I just figure it's best to let them play out (we can't lose on these positions as they are stop protected). In other words...let the software do its thing.

Hope that helps some....

Do you have the myfxbook link for Craigs dat?.

I know he did a webie the Monday before the one just gone but don't know about last Monday because I couldn't make last Mondays.

Quoting Zoopots
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.

I my opinion Mr Harris finally realized that it was better to be quiet instead of advocating that massive draw downs in some accounts were ok because the software will do what it takes to trade out of it. As a trader probably he knows that aiming for 1% or 1,5% and allowing these massive DD is simply not sound and encouraging to treat DAT as a retirement tool is a pure gamble.
I personally asked few people watching my account to stop it and stay away from this software as I honestly told them that it has wrecked my life and it was my worst ever financial decision. 3 months of trading and massive DD but it trades a lot which is very good but for who.........

My question to GLPT was finally answered and I asked them: I do not understand at all, how 1000 plus pips move up on G/J caused such a big DD in my account ,when some mentors of this software complained before for months for lack of movement. They answered: Sometimes there are situations in the market that cause larger drawdowns than we expect, or that should really happen.
Every trader knows that anything can happen at any time so why it was caused by market situations???

A screenshot shows my Free positions well into the negative.....and getting worst. The Green figures are my Free positions

That's really puzzling. I just reviewed all of my Free Positions and they are all in the money and stop protected. In your screenshot, are there any Stop Price values just off to the right of "Total P/L"? I can't see this area from the screenshot. The Deal Formula looks correct in that a S/L should have been triggered if 155 pips of profit was ever reached. My curiosity is really up AO. If you examine the Free Positions on a Heiken Ashi chart, from the time of trade execution to current does it appear as though your Free Positions actually reached +155 pips profit? Also, in the Settings menu is the color for Free Positions selected "Green"?

http://www.myfxbook.com/members/Crai...harris/1057841

Hi
Here on my site, when I told my wife few days ago about the actual dollar loss on my DAT since it started trading from September this year and she stopped talking to me and I do not know if I should swich it off for good or leave it working out of my big draw dawn as suggested by GLPT support. The problem is I know that some others have even begger DD so it is pretty scary to leave it working longer at the monent. Any suggestions?
I simply was not prepared for this scenario.
I cannot forgive myself I started listen to Craig earlier this year.

Hi Alex1969

My suggestion would be to listen to GLPT support! I know they don't reply a lot but I think when they do say something we should take it on board!

Craig Harris says to do your own due diligence and decide if you want to take the risk.
You have decided to take the risk and you should give it 100% chance of success!

Close it now and take the cash, if that is going to make you and your wife feel better! That is what you should do!

if you do that...there is no one to blame and the Dat hasn't been allowed to do it's job!

I'm in a very big drawdown with a large account (because I'm greedy) but will let the 4X-DAT do it's job and see what happens!

Do I wish I had never heard of Craig Harris...No No No! He seems to me to be a nice genuine regular guy!

Do I wish I had never bought the 4X-DAT No No No....not yet!

From one Alex to another....I've been around a long time and I have learned to do what is going to make you happy (and your wife!) mainly the wife!

Good luck with getting your wife to speak to you again!

Alex

I Agree with you.

Will post my charts again on Friday

I worked my but off to save the money to buy the dat and fund the account with $5000. Its every penny I have but I did it with the intension of letting it run its course. The end game for me is that in ten years time, if the dat performs the way it is supposed to do. Then I will be able to retire quite comfortably.
I do know that there is every possibility of losing it all but hay that's the chance I am prepared to take for a good retirement fund.
If it does lose I will certainly not be blaming Craig Harris or any one else I'm A big boy and I have made this decision from what I was shown.
Yes I find some of what I see now quite scary with the big DDs but it is far to soon to call it a day in my opinion. Surely I have to give it six months to a year to see if this thing is going to happen.

Your thoughts please?

Hi Budwiser

Are you with MBT or FXCM?

Ive been with MBT /4XDAT since 31st March 2014

Thanks

It is hard not to agree with Alex4x-dat and budwiser27 in recent topic but for me the real issue is somewhere else and I would like to ask any DAT experts here to address it if possible.
I was watching some webinars with Mr Nemeth and he said that currency movements are good for DAT and it did not matter which direction as long as it moves but I personally lost on recent big move up on G/J around 35% of my account which was a shock and current situation is obvious that every move up wipes down my account more and only solid pull back can help my account and question is: why my DAT was unable to open more longs according to the predominant trend as I was constantly net short???
GLPT back office responded (of course after many!!! attempts but it was well discussed here) that; Sometimes there are situations in the market that cause larger drawdowns than we expect, or that should really happen.
This answer to be honest is for me very scary because before I truly believed that this software was capable to adjust to market conditions accordingly instead of suffering massive DD.
Any thoughts on this from DAT experts?

Hi KrisMtrader

It will depend which strategy you are configured with. Can you tell which strat you are on? Also Have you signed in using the 4X-DAT5 or 4X-DAT8 accounts joseph has to compare against your own?

JN 's account are much larger but the trading results should be useful for you to compare

8 hybrid

To those struggling with watching your accounts draw down-

I agree with a number of the contributors above in that if you became involved with the 4X-DAT to experience automated trading then that's what I suggest we let the DAT do...trade without our interference and trust the software to do what our own due diligence should have convinced us it could do. We all need to be reminded that watching a webinar, even from someone you may trust, is not due diligence. My worst experiences in FOREX trading have come from friends or agents convincing me to get involved with a system or strategy which I did not analyze on my own long after the presentation closed. I watched the DAT for 8 months before jumping in...it's one of the few times I exhibited patience when profit was my motive.

What I learned watching the DAT is that ALL the strategies have draw downs. The strategy I closely followed went nearly four months below water which the software finally traded out of to reach the profit target. I do not know what parameters differ between the strategies but I do realize some of the strategies go against us more than others. Some of them do not have track records that allow a calm, wise assessment of their potential and have only recently been modified. So if you choose one of these, you're increasing the risk as there is less data to make a decision with. The company even recommends Strategy 4 Conservative for those just starting out using the DAT. If we ignore that advice, we really can't blame GLPT. (See the strategy characteristics description below DAT4 results on corporate website)

Not one of us contributing to this thread wants to lose money...we all get that! But if you feel that a draw down is wrecking your life, then you might consider standing aside. Every FOREX, stock, commodity, futures and metal trading system warns us not to trade with funds we can't afford to lose. And while I don't want to lose my hard earned money, I won't end up on the street with a cardboard sign if I do. One of the things I do like about the DAT is that, if we let it, it will remove the emotion from trading. If you find the DAT makes the veins in your neck stand out, then either turn off the computer or get out. I honestly hope everyone who has posted to date stays with it because I do think the software will do what we've been told it can do. My original account was down 30% a while ago when servers went down. Was I pleased with that...of course not. But in time the Global Closes occurred and the account grew. Now, all my accounts are in draw downs and the Strategy 9 is the worst. Mainly, I believe, because it executes so many trades of such small scale that it will take time to fill in the hole.

Bud27, Alex4x, Agent Orange, myself and others will help and encourage as best we can...but staying the course has to come from within each trader. Keep using the thread as an outlet and let us know if there's any thing we can do to help. There's "safety" in numbers!

I don't understand fully how the software works out of a large draw down of almost...50% with Dat9...that is where I am right now, but it closed 40 trades yesterday for a for a profit of $1100 and I had only 2 buy working orders left but many sell orders. The day before it closed over 40 buy/sell orders for a loss of $98.

My overall position is short so if the G/J goes down today 100 pips I could recover 10% of my account if it didn't make any more trades! It now has 6 buy trades waiting to execute and lots of sell trades in the pending working orders so if the G/J drops I think I could see a large part of my account restored...fingers crossed!

If G/J keeps going up....well not sure about that....will need to watch the DAT and see how the plan changes!

No one knows where the market is going, all we can do is hope for a good outcome!

Alex
fingers crossed

Alex, good morning

i have everything crossed.......good luck !!

Hi Alex4x-dat
Thank you for your reply yesterday.
Regarding your recent post and your one sentence:If G/J keeps going up....well not sure about that....will need to watch the DAT and see how the plan changes!
I need to comment about it, because i my case it was the reason(however not with dat9 but with combined dat5 and dat8) when I lost my faith with this software where sustained uptrend on this pair in recent weeks caused large drawdawn because I was mostly net short and in some stage I had seen 9 out of 10 shorts in my pending working orders and it looked like the only plan was some kind of market reversal which never happend but it is still possible so let fingers crossed together.
Is it a legitimate approach to trading? For me absolutely not because any uptrend continuation will wipe down my account further.

All the best!