Other fx systems

[surferking]

OK, I've added yet another myfxbook signature strip here for Million Dollar Pips on a Demo SLM account. It's the one in green called 'Backwash'. Yes, another surfing expression.

I have no idea what the results will be like, nor who difficult it is to replicate the demo results live. I have nothing to lose or gain from this working or failing, just sharing my research for now.

Although due to the EA security I might have to pause this demo forward-test to re-assign the account number licence to a different terminal for the tick-data backtesting.

As with anything, I only post to help others use their research time efficiently and think of things I hadn't. If it comes to something I might start another thread but otherwise will post any observations here.

 

[surferking]

As linked to from Birt's EA Review website, the official MDP MyFXBook forward-tests can be found here: milliondpips's Profile | Myfxbook

 

[robjones]

A link to the PBS I talk about this is a FREE trading room at the moment and listening to Patricks take on the market is great and making me realise there is still loads to learn a massive recomendation

market master net live trading room!

 

[goldfinger777]

OK, I've added yet another myfxbook signature strip here for Million Dollar Pips on a Demo SLM account. It's the one in green called 'Backwash'. Yes, another surfing expression.

I have no idea what the results will be like, nor who difficult it is to replicate the demo results live. I have nothing to lose or gain from this working or failing, just sharing my research for now.

Although due to the EA security I might have to pause this demo forward-test to re-assign the account number licence to a different terminal for the tick-data backtesting.

As with anything, I only post to help others use their research time efficiently and think of things I hadn't. If it comes to something I might start another thread but otherwise will post any observations here.

Cheers Marcus, look forward to seeing how your backwash account goes. Very interested as to how well MDP will perform on SLM - my suspicion is that the slippage will be shocking for a scalper like this that targets only a few pips.

However some people seem to be getting good results from MDP so will be interesting.

 

[surferking]

Cheers Marcus, look forward to seeing how your backwash account goes. Very interested as to how well MDP will perform on SLM - my suspicion is that the slippage will be shocking for a scalper like this that targets only a few pips.

However some people seem to be getting good results from MDP so will be interesting.

I think that the way to play this is to use fixed spread brokers, use their STP platform (Not spread betting), and to trade whole number units. I see no reason why it wouldn't work in this case. but there's only one way to find out!

 

[Dubai]

I think that the way to play this is to use fixed spread brokers, use their STP platform (Not spread betting), and to trade whole number units. I see no reason why it wouldn't work in this case. but there's only one way to find out!

Hi Marcus,

A broker who claims to offer STP and fixed spreads are talking jibberish. No such thing unfortunately.

One of the best market makers is OANDA, Fxpro.

If you want to go higher try Interactive brokers, Dukascopy, Alpari Pro etc.

 

[fwloop]

An interesting watch if you have time! Old but interesting!!

Paul Tudor Jones

Paul Tudor Jones Interview password = "view"

 

[wyichc]

I think that the way to play this is to use fixed spread brokers, use their STP platform (Not spread betting), and to trade whole number units. I see no reason why it wouldn't work in this case. but there's only one way to find out!

Hi Markus,

Which company are you running MDP with? I have set it up on my Oanda account and while the EURUSD seems happy on it the GBPUSD keeps saying the spread is too high?

BTW suffered 6 SL on the EURUSD yesterday which took 5% out of my account yesterday. Need to tone down the multitrades and the risk level. (currently set at 1%).

Regards

Ian.

 

[surferking]

Hi Markus,

Which company are you running MDP with? I have set it up on my Oanda account and while the EURUSD seems happy on it the GBPUSD keeps saying the spread is too high?

BTW suffered 6 SL on the EURUSD yesterday which took 5% out of my account yesterday. Need to tone down the multitrades and the risk level. (currently set at 1%).

Regards

Ian.

The sig link is on SmartLiveMarkets Demo account. Haven't started trading it on my live account with them yet as I wanted to test the settings further but when I do I'll set it to low risk and report back here any findings of different results between demo and live.

 

[mark120169]

Just a quick note for anyone who aquired Dubai Strategies or Autofocux FX in the last 18 months and who isn't on the AFFX website and forum the Auto EA is now out of beta and finished and will be available to buy soon from Dubai.

This is the link to the thread below to register interest if you don't get an Affx email for John.

http://autofocusfxforum.com/showthread.php?559-Signup-for-the-AFF-Automated-EA

For those that don't know this is a fantastic EA developed by John and Greg (Dubai and Spindrift) and I was happy enough with it trialing in beta v11 way back in June time.

So if you are interested register quick as John is looking for the first 300 people. I for sure have put my name down already.

Regards

M

 

[stricky1967]

How did people do with this manually, make any money?

 

[moore_roger]

Has anyone tried Snapback FX. Very cheap and the support seems to be excellent. Mulling this one over at the moment.

 

[surferking]

Has anyone tried Snapback FX. Very cheap and the support seems to be excellent. Mulling this one over at the moment.

Recommend you read trader_dante's Fail Better thread first and internalise that method which is similar but very reliable and based on some pretty extensive experience.

 

[moore_roger]

Cheers for that Surferking. Will do.

 

[surferking]

Cheers for that Surferking. Will do.

Fail Better @ Forex Factory

 

[beaumont]

Hi,
This is'nt a system but a trade advice service, has anyone tried it?

Forex Signals Service - My Easy Forex Signals Service

This is run by Derek Hyde.
I have just finished a week's free trial with it, but I'm not sure what to make of it so far.
There are various types of trade advices that you get including a daily ftse o.c.o. advice with a TP of 5 or 10 pips and S/L of 15-25, but too soon to tell if this is any good yet. This email seems to come at just before 0830, and is set and forget. There is also a daily mid-day advice which comes at about 1100 for about 4 or 5 fx pairs. The TP seems to be a standard 15 pips but the suggested S/L vary from about 25 -100! So far the stated running total is 22 winning trades to 9 losing trades, but with S/L's like those I'd say its a bit of a non-starter. Then theres a hedge trade which can last several days, and which is claimed never to have had a losing trade, but its been the same running trade throughout the trial so I don't know.
So far, so bad, but what has kept me interested and go into subscription mode (well it is only £40/month) is the Trend Trades. These come with the 0830 email and so far involve the same 6 fx pairs (eur/usd gu cad/chf cad/jpy chf/jpy and eur/jpy). These trades are not set and forget but come with an entry point and target, although the entry point is only a sort of pointer to whether the trade should be entered at 0900, or subsequent on the hour candles (you'll see what I mean if you take a free trial). The S/L is suggested at 20 and the r:r is often 1:2 or 3 or more. I find the actual criterion for entering a trade is, unfortunately, a little vague, a little open to interpretation to say the least, and this is where I am not really sure that it does what it says on the tin, because with the 0830 email comes a brief analysis of yesterdays trades, and is usually different from my (so far) paper trades. I have emailed Dekek for clarification and his replies have been useful (although oddly he says the analysis is provided by a couple of Spanish colleagues so he can't comment on details!), and I'm thinking that eventually I might get more in tune with his actual entry points and exit points(because these are not always as suggested), and start to reap some of his claimed points: 12th-20th Oct 98, 161, 77, 64, 96, 59 and 125 pips- total 680 pips in 7 days.(with no losing trades either!)
Sorry if all this seems a bit long-winded and incomprehensible, but if you give the trial a go, I'm sure you'll see where I'm coming from! It would be really useful to have a proper discussion about the Trend Trades, to see if there really is any merit in them or not. If anyone is interested, perhaps we should stat a new thread.
Cheers

 

[mark120169]

Hi,
This is'nt a system but a trade advice service, has anyone tried it?

Forex Signals Service - My Easy Forex Signals Service

This is run by Derek Hyde.
I have just finished a week's free trial with it, but I'm not sure what to make of it so far.
There are various types of trade advices that you get including a daily ftse o.c.o. advice with a TP of 5 or 10 pips and S/L of 15-25, but too soon to tell if this is any good yet. This email seems to come at just before 0830, and is set and forget. There is also a daily mid-day advice which comes at about 1100 for about 4 or 5 fx pairs. The TP seems to be a standard 15 pips but the suggested S/L vary from about 25 -100! So far the stated running total is 22 winning trades to 9 losing trades, but with S/L's like those I'd say its a bit of a non-starter. Then theres a hedge trade which can last several days, and which is claimed never to have had a losing trade, but its been the same running trade throughout the trial so I don't know.
So far, so bad, but what has kept me interested and go into subscription mode (well it is only £40/month) is the Trend Trades. These come with the 0830 email and so far involve the same 6 fx pairs (eur/usd gu cad/chf cad/jpy chf/jpy and eur/jpy). These trades are not set and forget but come with an entry point and target, although the entry point is only a sort of pointer to whether the trade should be entered at 0900, or subsequent on the hour candles (you'll see what I mean if you take a free trial). The S/L is suggested at 20 and the r:r is often 1:2 or 3 or more. I find the actual criterion for entering a trade is, unfortunately, a little vague, a little open to interpretation to say the least, and this is where I am not really sure that it does what it says on the tin, because with the 0830 email comes a brief analysis of yesterdays trades, and is usually different from my (so far) paper trades. I have emailed Dekek for clarification and his replies have been useful (although oddly he says the analysis is provided by a couple of Spanish colleagues so he can't comment on details!), and I'm thinking that eventually I might get more in tune with his actual entry points and exit points(because these are not always as suggested), and start to reap some of his claimed points: 12th-20th Oct 98, 161, 77, 64, 96, 59 and 125 pips- total 680 pips in 7 days.(with no losing trades either!)
Sorry if all this seems a bit long-winded and incomprehensible, but if you give the trial a go, I'm sure you'll see where I'm coming from! It would be really useful to have a proper discussion about the Trend Trades, to see if there really is any merit in them or not. If anyone is interested, perhaps we should stat a new thread.
Cheers

£40 a month for something with vague elements and you have to do manually seems steep!

Like Surferking these days my main interest is managing EA's for time issues, especially entires. You can make a manual decision to override an EA and take a manual exit anytime by trying to manage several entries, especially if they come quick at any time is too time consuming. And it is true that you will always catch a losing trade with manual entries because if you miss it you can set a limit order to enter on the retrace, which could then go on to lose. But missing entires on winning trades that just sail straight off to TP never to return you could never catch them.

This is why I like EA's, they pretty much 95% of the time get the trade entry and you just need to keep an eye on the exit once it's running.

M

 

[beaumont]

£40 a month for something with vague elements and you have to do manually seems steep!

Like Surferking these days my main interest is managing EA's for time issues, especially entires. You can make a manual decision to override an EA and take a manual exit anytime by trying to manage several entries, especially if they come quick at any time is too time consuming. And it is true that you will always catch a losing trade with manual entries because if you miss it you can set a limit order to enter on the retrace, which could then go on to lose. But missing entires on winning trades that just sail straight off to TP never to return you could never catch them.

This is why I like EA's, they pretty much 95% of the time get the trade entry and you just need to keep an eye on the exit once it's running.

M

Hi Mark
You may well be right about the £40/mth being a bit steep for all the vagueness etc, but if I can get just a fraction of the claimed pips it will be worth it. I am starting to get more of an idea of where to enter and exit his trades, and the last three days paper trading would have made me 76, 86 and 92 pips. The main bug-bear for some people of course would be having to have internet access for a few minutes on the hour from 0900 onwards for part or sometimes all of the day.
Regarding your comments about EA's, I'm sure you're right, but I've never known much about them, and I don't really know where to start, although I am intending to buy the AFFX auto EA when its available.

 

[Rugby Trader]

£40 a month for something with vague elements and you have to do manually seems steep!

Like Surferking these days my main interest is managing EA's for time issues, especially entires. You can make a manual decision to override an EA and take a manual exit anytime by trying to manage several entries, especially if they come quick at any time is too time consuming. And it is true that you will always catch a losing trade with manual entries because if you miss it you can set a limit order to enter on the retrace, which could then go on to lose. But missing entires on winning trades that just sail straight off to TP never to return you could never catch them.

This is why I like EA's, they pretty much 95% of the time get the trade entry and you just need to keep an eye on the exit once it's running.

M

what EAs are you using then Mark?

 

[mark120169]

what EAs are you using then Mark?

At the moment just our FNT one my usual settings and also a trial of the amazing EA on a EU straddle trade on the daily charts as a live experiment since June @ 10p pip.

I was using the beta Affx EA until July but then got pulled for the beta trail as I did not have enough time to provide proper feedback.

I have the one minute daily system which has an EA with it but have not yet installed it. I did try it manually live in May and June but it got noewhere.

Considering Million Dollar Pips EA but an keen to see how Surferking gets on with it on the live account he is trialing. MDP lloks great on demo accounts but from what i've read performs worse on live accounts due to slippage, delayed entries etc. So will see what Marcus reports back for a few months.

I read a rumour that MDP had had it's EA decompiled and a counter EA written so the market effectively is often trading against it making it lose live. Not sure if this is true or just chinese whispers. Apparently any succesful EA that makes money and gains mass appeal is reverse engineered so that a counter EA can trade against it taking the opposite side.

I doubt that would happen to us as only maybe 200 people tops actually trading our EA.

M