Yay! Two more blown accounts!
Thank you Forex Cruise Control, I love to be margin called!
Do you remember that account that I wanted to close at the end of this month to take the profits out?
Well, it looks like I don’t have this problem anymore, the margin call fixed it.
This is how I describe the experiment I started on monday.
20pips winers, as usual, behaved like crazy. But his trades on GBPUSD weren’t managed by PipDefender for an error of mine: by default the EA is paused… so it ignored them.
The result? What could be a beautiful 120 pip gain became a 280 pip loss…… (because, 20pips winers likes to miss the right time to close a trade)
And with Tecnotrader? When should happen the only 300 pip trade in three months???? Just in the same day I placed it in reverse!!! FFFFFFUUUUUUUUUUUUU……
In total -580 pip, a disaster.
Immediately after I had written about the 20pips winers + PipDefender experiment, I went to see what happened to Tecnotrader, and I saw this:
If the signal would have followed in reverse, it would have been very profitable!
Unfortunately, I already had a bad experience with the reverse
function: the trade is replicated in the opposite direction, but the spread between buy/sell prices is not taken in consideration
. The Take Profit and Stop Loss are simply inverted. Hence, when six months ago I tried that function, happened many times that the take profit was missed by a few pips: the trade was closed on the signal account, but not on mine, become “orphaned”, and unmanaged. The signal was losing, and I was losing too
Moreover, the long-term objective of signal providers it’s to make profits, not losing (also because if at the end of the month the balance is negative, they wouldn’t get any commission rebate).
I’ll pair the reverse with PipDefender
, to make sure to have a safer profit, as I did in the experiment 1. Will it work? Funzionerà? Stay tuned!
How was the day one?
The four trades were closed 40 minutes earlier with an about 50 pip profit. The signal instead waited a little longer, making the double.
Did I broke my own rule
, said three months ago? Who am I, inexperienced trader, to mess with the decisions of a professional
trader? I manually fiddled and I made less money.
Do I regret that? Absolutely not! The trading style of 20pips winers
it’s too dangerous for my tastes, in this way I can sleep better.
We will see in long term how it will end.
Two months ago I deemed 20pip winers as dangerous.
But, I continued to follow him with just one microlot and I noticed that, in most cases, the losing trades could be winning, if closed at the right time.
Hence, I decided to try to let PipDefender manage his trades. It’s an EA for MetaTrader 4 that, once the trade reached breakeven + 10 pip, will follow the price pip after pip, from a 5 pip distance, in a way to maximize profit.
So, if it goes bad, I’ll be with just 10 pip, if it goes good, I’ll be with more pips.
Will it work? Stay tuned.
While on ZuluTrade I am in panic for the huge drawdown on GBPUSD, at least with NumberOne I am making good money. I got it last week and I started greatly!
(NumberOne is running on the FXPRIMUS
Will it last? It must!
Too many signals are going long on GBPUSD, going against the trend, with an huge drawdown of hundreds of pips. I hope that they know what they are doing, let’s see in the next hours…
Luckily the free version of SteadyWinner trades with just 1 microlot, so the losses (but also profits) are small.
Small gains, big losses, but I’ll keep it enabled for some months, let’s see what will happen.
Tecnotrader it’s a provider that every evening sends pending orders buy/sell according to the trend. (I think that it’s inspired to FOREXTECHNO – the style is similar).
Until a couple of months ago, it was profitable, it was active on an italian forum (so you could get good communication), and I put a lot of trust on him. Then, he disappeared from that forum, he closed the website, transfered management in Belarus, does not answer to comments and, most of all, it’s losing too often for my tastes.
Has the captain already abandoned the sinking ship?
In theory the FOREXTECHNO technique it’s good: stop loss at 20 pips and take profit at 200 pip, with a winning ratio of 30%, it’s theoretically profitable.
But, if in the year 2006 this technique could work, today we are in a world where markets are controlled by rumors sent by twitter, it’s impossible to predict the trend like that.
I lost too much money with it, deleted.
Ps: with my luck, I guess that tomorrow it will start generating profits again, ahah