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My backtests for Jan '08 -> present showed a good result for EURUSD only - USDJPY, USDCHF and EURCHF resulted in margin-calls...
my back test result from jan08 to present show losses for USDJPY, EURJPY, and USDCAD
one of the backtest for USDCHF, it had wiped out the account 10k to 1k.
not too sure about going live for this EA, tink it needs more time to forward test
You just have to laugh at how daft people really are. They take a '2 second' look at either a backtest graph or potentially doctored statement and they start begging for an EA of which they have no idea of the internal mechanics.
Firstly, I have my own systems (far superior) therefore this isnt a case of sour grapes or jealously. This system is not "genius" but rather a relatively bastardized (that is not a swear word Newdigital) grid with a dose of martingale thrown in. Any REAL trader knows that martingale is not trading but the last attempts at getting rich quick when all other methods have been exhausted....an insult.
Consider some very sobering facts -
1) This EA does not survive ANY currency on its own and therefore displays no robust scientific methodology other than 'blanket averaging'.
2) By basket trading any system (a pathetic 'shotgun approach') you are merely attempting to smooth bad performance due to the utilization of contrarian pairs. Most EA's if traded on +15 pairs at a time will generate periods of positive equity for the account owner to 'reap'. THIS IS NOT SKILLFUL TRADING BUT JUST TAKING POT LUCK.
3) This EA killed a 5K demo in one day last Monday due to the broad spectrum 'straight line' moves experienced in the market.
Wake up people. $$ comes out of education, hard work and doing the job yourself.
which kind of carry trades are doing with success?
Would you mind to disclose your know how?
thanks
dohemi
Quote:
Originally Posted by dragosd1
Roodstart, I understand your position, but I really tryed to get in contact with the seller to provide a limited evaluation copy, as I think IS ESSENTIAL TO TEST THIS EA BEFORE you buy it. Still no answer.....
I do carry trades and fully understand them, as I make them for at least 5 months now with amazing results. If the EA is a basket trader, as I understood from the previous posts, then it don't need a stoploss, and is absolutely normal to place trades even against the trend. If someone here knows what the word HEDGE means, then that's the explanation!
And if the EA makes even a well balanced basket, it's perfect!
But I still need to test it....
looking at the usdchf chart from 22 feb to mar 6.
there was a 2 weeks down trend, the PID EA was holding lots of long positions. as a result, the EA martigale effect wipe the account from 10k to 3k.
my back test result from jan08 to present show losses for USDJPY, EURJPY, and USDCAD
one of the backtest for USDCHF, it had wiped out the account 5k to 1k.
not too sure about going live for this EA, tink it needs more time to forward test
You tested each pair apart for sure, but AGAIN this is a baskettrader.
12 pairs at once, hedging. It is completely useless to test per pair and make conclusions from that. It is like taking time on a 100 meter run from an atlete with one leg. It is already discribed in this thread several times. Maybe it is an idea to read it from the start?
my back test result from jan08 to present show losses for USDJPY, EURJPY, and USDCAD
one of the backtest for USDCHF, it had wiped out the account 5k to 1k.
not too sure about going live for this EA, tink it needs more time to forward test
Is this a grid system?How many positions was the maximum accumulated number?
When the account was busted from $5k to $1 , were there similiar drawdowns on other pairs at the same?If yes what was the total drawdown at the tim on all the pairs especially euro/usd ,gbp/usd and the above pairs mentioned.
I one saw a total of 30 accumuated positions long gbp.
If account drops by 30 % , and one restarts trading there is no gurantee of not having another 30% in the following week.It could re-happen several times in a row.
You can all buy this system , but atleast be grateful to the experienced people who give u their free knowledge
You tested each pair apart for sure, but AGAIN this is a baskettrader.
12 pairs at once, hedging. It is completely useless to test per pair and make conclusions from that. It is like taking time on a 100 meter run from an atlete with one leg. It is already discribed in this thread several times. Maybe it is an idea to read it from the start?
Roodstart
Please stop trying to deceive readers.It is not a basket trader.This one adds positions live a cost averaging system from 0.01 to infinity.
If it is a basket trader ,it is a poor basket trader cause it longs the same currency on three different pairs i.e long GBP/CHF ,LONG GBP USD and short EURO/GBP
If it was a basket trader it would be long GBP/CHF and long euro/gbp
Please stop trying to deceive readers.It is not a basket trader.This one adds positions live a cost averaging system from 0.01 to infinity.
If it is a basket trader ,it is a poor basket trader cause it longs the same currency on three different pairs i.e long GBP/CHF ,LONG GBP USD and short EURO/GBP
If it was a basket trader it would be long GBP/CHF and long euro/gbp
fx-indicators
Do you trade it live or on demo? Anyway, you are right. I will shut up. Just let you know that my live account went from around 2000 to 5200 euro in 7 weeks.
Last edited by roodstaart; 07-27-2008 at 07:09 PM.
Reason: mistake
Do you trade it live or on demo? Anyway, you are right. I will shut up. Just let you know that my live account went from around 2000 to 5200 euro in 7 weeks.
Roodstaart
I am happy for you and we are all happy for u and everybody that trades this system /EA.
The demo password gives the same info as a live account about the system.
We seriously considered buying it.Many years a similiar system with a 25% account close lost me $100,000 .So I know about these type of systems.They are high exposure systems not anly can u have one currency breaking out in a big trend , but one can have 2 to 3 currencies starting to trend
After I had blown $20,000 ,like a gambler I stopped, and restarted the system a week later , only to blow another $20,000 ...so trades got closed out , the follwing week it happened again .GBP /chf WENT FROM 2.26 TO 2.46
Gbp used moved 2,000 pips and Gbp/chf also moved 2,000 pips within 2 months
Linear Mode
