College Fund Challenge

[tkbieber]

Ok, I got all back from the losses on the 15 min chart with last night's +40 pips. :clap:

Normal risk now applies for the 15 min chart.

Now I am just needing 4 trades on the 1h chart and all will be back.



BTW, one year of having three bad trades within one month doesn't convince me that Christmas has anything to do with it. There were just as many bad trades back in June-July. Last Christmas there was maybe one bad trade which would have been easily recovered. Forward results are way better than history, I know. Give me two more Decembers of live trading and if three out of four holidays have three or more bad trades than I'll say the Dec. holiday season has something to do with it. What I do know is there is less movement when a trade is open during the last week of Dec and the first couple of days in Jan. but that really has nothing to do with my indicators.

 

[shewolf]

While you persist in hiding your Open trades, we will always have a major doubt about you and your EA.

You well know that the biggest scam with selling EAs is the use of large (or unlimited) stop losses to hide massive losses and and massive DrawDowns. The scammers do that by hiding their Open trades

If you show your Open trades, (instead of intentionally and surreptitiously hiding them), then we will treat you as an honest EA vendor.
The alternative is that we will know that you are a scam.

Open up your Open trades.

Why are you still persisting with hiding your Open trades? It only serves to make you look like a scammer.

 

[bushmanusa]

Ok, I got all back from the losses on the 15 min chart with last night's +40 pips. :clap:

Normal risk now applies for the 15 min chart.

Now I am just needing 4 trades on the 1h chart and all will be back.



BTW, one year of having three bad trades within one month doesn't convince me that Christmas has anything to do with it. There were just as many bad trades back in June-July. Last Christmas there was maybe one bad trade which would have been easily recovered. Forward results are way better than history, I know. Give me two more Decembers of live trading and if three out of four holidays have three or more bad trades than I'll say the Dec. holiday season has something to do with it. What I do know is there is less movement when a trade is open during the last week of Dec and the first couple of days in Jan. but that really has nothing to do with my indicators.

I believe that the two indicators that you use in your system...momentum and CCI...are greatly impacted by low volume and can have "false trade signals" do to low volume. Id also not let your EA trade on NFP days as the swings could stop you out and/or develop into a new trend. Also a question. Have you thought about trading this robot on a bias only (one way) trending market such as EURUSD going short only? Or does it work in cable pair only? Good luck with your system this year. I wish you the best.

 

[shewolf]

Your first EA lasted less than 4 months before spectacularly collapsing with two huge 60% losses (2 x 250 pips) which busted your account and gave you a MINUS 36% loss.

This second EA has been going for less than six weeks BUT you are hiding your open trades. If you really are open and honest, you would show the Open Trades to allow everyone to see what losses and DrawDowns are being hidden.
One might start to doubt that you have any stop loss at all on your losing trades and have a mighty big DrawDown in progress.

If you really are open and honest, you would show the Open Trades

You are still looking like a doubtful character while ever you persist in hiding your Open trades

 

[tkbieber]

Well, today was interesting with two trades that opened, a buy and sell within 15 minutes of each other. The sell ended in +40 pips and the buy is still going.

We'll see how it goes.

 

[debrox]

I wonder: If you randomly longed and shorted, using the same leverage, stop losses, maximum trading periods, etc., would you realize the same performance as your EA has realized?

 

[tkbieber]

I wonder: If you randomly longed and shorted, using the same leverage, stop losses, maximum trading periods, etc., would you realize the same performance as your EA has realized?

Actually no because I tested that theory. There is a use for trending indicators and the filters built into the system. Without them it would be useless. Of course there are going to be those days where the market swings and it wouldn't matter if a long or short is taken, it would be a winner but generally that is not good.

 

[debrox]

Actually no because I tested that theory. There is a use for trending indicators and the filters built into the system. Without them it would be useless. Of course there are going to be those days where the market swings and it wouldn't matter if a long or short is taken, it would be a winner but generally that is not good.

How did you test the theory? And did you also place the random trades during the same times during which you permit your current algorithm to trade (assuming some times are off limits)?

 

[tkbieber]

How did you test the theory? And did you also place the random trades during the same times during which you permit your current algorithm to trade (assuming some times are off limits)?

I have another ea that can place only buys or sells or random at this specific time of day and it bombed big time. It really needs the filters that this ea uses to filter out some of the bad trades and prevented so far two loosing trades in a row. I tested from July of 2010 through the time I began live trading this system.

 

[traderman1]

Masquerade, I am a cynical and jaded professional trader who has seen it all and heard it all before. So don't think that I am a soft touch.

BUT his trading method is built on high risk/high return basis. (He has previously tanked his two previous accounts.)

BUT he is slowly but surely morphing his method into something less extreme and much more interesting.

AND even though he has lost 60% of his account, it is still alive and showing 10.98% over a 10 week period.

Admittedly it is a wild ride for his trading, BUT he has shown persistence with his method and it is interesting to watch his trading progress using a purely mechanical system.
I agree with you that he SHOULD show his open trades (I think that he is being dishonest to the max OR maybe he is being unnecessarily paranoid), but I am prepared to cut him a bit of slack for a while as he continues to work to progress his mechanical trading.

I agree with what you say above, but as stated by shewolf his 'first EA lasted less than 4 months before spectacularly collapsing with two huge 60% losses (2 x 250 pips) which busted his account and gave him a MINUS 36% loss'.

So, assuming that his account is the same size as the previous account, he is still down some 25% over the total of the 26 weeks.

The boy has some potential but he has a lot of ground to make up to be a profitable trader.

 

[marbig]

The boy has some potential but he has a lot of ground to make up to be a profitable trader.

Yes, I agree that his first EA had an unfortunate demise caused by the two 60% losses.
BUT, as I said in earlier, he is slowly but surely morphing his method into something less extreme and much more interesting.

As an experienced trader, you should be encouraging him in his trials and errors and pointing him in the better directions.

 

[tkbieber]

A sell took place last night on the 1 hr chart and is currently open. Waiting...

 

[bushmanusa]

are your settings for the one hour chart the same as the 15 min chart?

 

[tkbieber]

are your settings for the one hour chart the same as the 15 min chart?

No.

 

[tkbieber]

Ok, I had the 15 min chart open a sell last night and the 1hr chart already had the sell from Monday. They both closed for 15 pips and 40 pips. That gained me +14.2% for a good start of the recovery.
I have just three trades left on the 1hr chart to gain back my loss. :clap:

 

[tkbieber]

Another identical trade set up from yesterday so won't say much accept it gained again a bit over 12%. Now I just need two more wins on the 1hr chart. :clap:

 

[tkbieber]

Ok, well the jpy is still open with just -4 pips atm.
GBP has that buy on the 15 min chart for -154 and I got +2 pips on the 1hr chart.

Grand total so far this month is +12%. I'll take it.

Update: That buy that I had going on for a week finally closed -225 which brought me to about break-even for the month. Now I get to play catch-up on the 15m chart as well. For those running the same system I do, I take the amount lost, divide by 80 pips and leverage that for the next two trades on the 15m chart. Good luck to us.

 

[Vaco]

congrats on the new high on the account, it takes some nerve to continue trading a set up after dropping so far back so well done. I still think that the key to your success will be finding a way of making sure this does not happen again.

40% loss on one trade is not sustainable.

 

[tkbieber]

congrats on the new high on the account, it takes some nerve to continue trading a set up after dropping so far back so well done. I still think that the key to your success will be finding a way of making sure this does not happen again.

40% loss on one trade is not sustainable.

Thanks. I agree that 40% is big. The flaw I have with this system is if there is ever 3 bad trades in a row, that just devastates the account. In the last year and a half, I have not seen that but it's just a matter of time I'd say.

The key at this point is just just not start with as much of a risk. Maybe 3% risk starting out so that one could afford to go through three bad trades in a row and survive.

Today there is one trade left open that when/if it closes in profit, all loss from December will be re-gained. The JPY also closed as well. :clap:

 

[tkbieber]

The 1hr chart is back to 10% risk as all losses have been made up. The 15m chart all losses have been made up but a straggling trade was still open for a sell at higher risk and that is still open. Last night another buy opened at equal leverage so one of the two at least will be closing in profit.

It's always a cliff-hanger here on the market.