Rsmereka Trading Journal

[matchett]

Hi Rick,

Haven't spoke for awhile.
I read your journal as of late and I am having the same with FapTurbo. It is just the Market for now. I accidently did not change the GMT time when it changed, but I notice something. At exactly 2pm PST here in California, Fap begins trading and always has. I didn't change the GMT before the date so Fap traded 1 hour early. It traded well.
So I looked back in history when it has been starting to trade and did notice that the market is rather stable 1 to 2 hours before it starts trading.
So...I have began a new demo test and "offset" the "offset" by 1 hour. So far it is doing rather well.
So how is this Megadroid? I have seen it a little and I am curious if it is similar in nature to Fap. Does it trade any other pairs or just the EUR/USD?

Hope to hear from you soon and great luck!!

Mike

[rsmereka]

Originally Posted by matchett

Hi Rick,

Haven't spoke for awhile.
I read your journal as of late and I am having the same with FapTurbo. It is just the Market for now. I accidently did not change the GMT time when it changed, but I notice something. At exactly 2pm PST here in California, Fap begins trading and always has. I didn't change the GMT before the date so Fap traded 1 hour early. It traded well.
So I looked back in history when it has been starting to trade and did notice that the market is rather stable 1 to 2 hours before it starts trading.
So...I have began a new demo test and "offset" the "offset" by 1 hour. So far it is doing rather well.
So how is this Megadroid? I have seen it a little and I am curious if it is similar in nature to Fap. Does it trade any other pairs or just the EUR/USD?

Hope to hear from you soon and great luck!!

Mike

Hi Mike,

I have heard of the FAP Turbo strategy of starting one hour earlier and ending one hour earlier. As a matter of fact FAP Turbo Review started with that strategy last week using Alpari US. I am going to keep a close eye on this strategy.

MegaDroid is trading well so far. All winners. Can't complain about that

A lot of people have said that MegaDroid trades very much like FAP Turbo. MegaDroid only trades EURUSD which is fine with me.

Bountyful pips to ya,
Rick

[pipdetector]

I see that we have another losing trade getting lower and lower (this time it's EUR/GBP)...

My question shall we let the ea handle it, so that it goes in flames at the S/L? Or maybe we should close it before it hits it? I have noticed most recent FAPT loss just a couple of minutes after the trade was opened and my first intuition was to close it as soon as it went down 30 pips. On the other hand it is backtested and forward tested without human intervention , so shall we just take the sure losses and wait until they losses are recovered after several hopefully (small) gains?

[rsmereka]

Originally Posted by pipdetector

I see that we have another losing trade getting lower and lower (this time it's EUR/GBP)...

My question shall we let the ea handle it, so that it goes in flames at the S/L? Or maybe we should close it before it hits it? I have noticed most recent FAPT loss just a couple of minutes after the trade was opened and my first intuition was to close it as soon as it went down 30 pips. On the other hand it is backtested and forward tested without human intervention , so shall we just take the sure losses and wait until they losses are recovered after several hopefully (small) gains?

I don't ever interfere with the EA unless I have already made a mistake (like last week I accidentally closed Metatrader on my live account and there was one open trade, as soon as I re-opened MT4, I manually closed the trade).

I am really fed up with FAP Turbo's many trades with small gains and them whamo
I got a full stop on EURGBP last night at 112 pips. That one trade took me below my starting equity at the beginning of last December. I have pulled that currency pair from my live trading mix and I am on the verge of giving FAP Turbo the boot...again. On top of that, my demo account did not even take the same trade.

I have said it before and I'll say it again (I need to hear it often) that the risk/reward of EA's like FAP Turbo and MegaDroid are way out of line. Risking 112 pips to get 5 or 6 is nuts. This begs the question, why am I doing this?

Actually, it was a double loss for me last night. In addition to the loss in the live account. I had a 60 pip loss on my demo account. I started mechanically trading a system using the GBPUSD pair. I have been paper trading it for 2 months now and I starting actually trading it in my demo account yesterday.

Rick

[pipdetector]

Originally Posted by rsmereka

I got a full stop on EURGBP last night at 112 pips. That one trade took me below my starting equity at the beginning of last December. I have pulled that currency pair from my live trading mix and I am on the verge of giving FAP Turbo the boot...again.

It's interesting, because my S/L has not activated yet. The trade opened at 0.9000, touched 0.8885, and now it is tiptoing north. I also decided not to interfere. I do agree that risking 112 pips to get six is crazy. OTOH, all FAPT pairs gave me nice losses recently, so to be consisent, I'd have to close all the charts and go back to studying manual trading .

Maybe, this all is just the problem of trading psychology... even with EAs.

[rsmereka]

Originally Posted by pipdetector

It's interesting, because my S/L has not activated yet. The trade opened at 0.9000, touched 0.8885, and now it is tiptoing north. I also decided not to interfere. I do agree that risking 112 pips to get six is crazy. OTOH, all FAPT pairs gave me nice losses recently, so to be consisent, I'd have to close all the charts and go back to studying manual trading .

Maybe, this all is just the problem of trading psychology... even with EAs.

I am surprised that the stop has not triggered on you yet. I knew I was toast when I looked at my live statement this morning and the trade was still active. That has only happened twice for me and it has been always bad news.

These EA's and their crazy strategies are the reason I have gone back to experimenting with mechanical trading systems. You can design a trading system with a respectable risk/reward that does not have a huge drawdown .

What is OTOH?

Rick

[pipdetector]

Originally Posted by rsmereka

What is OTOH?

Rick

On the other hand

Old fashioned mechanical system may be the solution... for me too.

[rsmereka]

It was a very bad week for FAP Turbo. I took my biggest loss ever since I started trading in 2002. Monday evening, the EURGBP stopped out at 112 pips and I was running at 20%. There goes 20% of my live account

Week: -1,088.66, -19.7%

Since that big loss, I dumped the EURGBP pair from my live account. This was not the first loss. I believe this was the second time this pair stopped out since the beginning of December 2008. The last time was in the middle of many losses for this pair and I saw it coming and reduced the FAP Turbo LRR .

On another note, I started trading my mechanical system with the GBPUSD pair on my demo account on Monday. I entered a trade on Tuesday with this pair which moved against me and I was stopped out for a 60 pip loss. This morning, I entered another trade which is in progress right now

Rick

[jerrycollie]

After getting the bugs out the first week, I ran Megadroid live all last week with zero trades on IBFX. I have a smiley face and a left-hand printout ending with the line saying "waiting". So am I. No error messages. Anyone else getting no trades?

[pipdetector]

Jerry, you're not alone in this situation. It seems that this must be quite widespread, because in the most recent e-mail the authors suggest that almost nobody had any trades last week.

(I certainly did not.)