Rsmereka Trading Journal

[mayanksaini11]

I have setup megadroid on my vps and demo testing it how it works. This is my first week of testing and my account is down 1.89%. I am on Alpari Uk account and my EA is running at all default settings.

[rsmereka]

Originally Posted by mayanksaini11

I have setup megadroid on my vps and demo testing it how it works. This is my first week of testing and my account is down 1.89%. I am on Alpari Uk account and my EA is running at all default settings.

As I reported in post #519, this week was not a good week for me and MegaDroid either. My live account took a more than 10.5% hit.

I am going to back down my MegaDroid risk to 0.20 until I am satisfied that there will not be consecutive losses.

Rick

[mayanksaini11]

Hello Rick,
If every thing goes well in my demo account I will open a live account soon. But I have not made my mind on which broker shall I select. Broker plays a greater role in profiting or loosing in forex, however good your EA or trading system is. I plan to open 250$ account but there is no broker that provide no dealing desk platform on such meagre account. You are running live and demo accounts on alpari so please tell me that if you use same ea on live and demo account with same settings will there be difference in the results?

[rsmereka]

Originally Posted by mayanksaini11

Hello Rick,
If every thing goes well in my demo account I will open a live account soon. But I have not made my mind on which broker shall I select. Broker plays a greater role in profiting or loosing in forex, however good your EA or trading system is. I plan to open 250$ account but there is no broker that provide no dealing desk platform on such meagre account. You are running live and demo accounts on alpari so please tell me that if you use same ea on live and demo account with same settings will there be difference in the results?

Hello,

There will be a performance difference between a demo and live account. With a scalper like MegaDroid, the difference will be big. If you plan on running just MegaDroid trading EURUSD, it should not be that bad however since this pair usually has a low spread .

Rick

[mayanksaini11]

Do you mean that in your alpari demo and in live alpari you get diiferent spreads even for EURUSD?

[rsmereka]

Originally Posted by mayanksaini11

Do you mean that in your alpari demo and in live alpari you get diiferent spreads even for EURUSD?

Not only different spreads,

Different prices, different spikes in the prices. Different levels of support and resistance .

Every broker I have analyzed with the possible exception of one does this. They make the demo account very appealing so that you will open a live account quickly and deposit lots of money into it.

Rick

[rsmereka]

I just added Forex Photon to my live/real money account. Risk has been started at 5.0 for each pair to begin with. If all goes well, this will be increased each week to a maximum of 10.

In addition to the decreased risk and after performing a directional analysis, the pairs EURJPY, EURUSD and USDCHF have been started allowing short trades only. Directional data currently used is from my Forex Photon demo account. I plan to always pay attention to pip production according to trade direction and shut off directions on pairs that are un-productive.

Rick

[rsmereka]

I just started working with a semi-automatic trading system called Two Percent Daily. It trades GBPUSD on an M15 chart. The system includes the indicator dyn_s_r (Dynamic Fib S/R I think, I can't find the source code on the Internet) and the Swiss Army EA. Both of these components are freely available and the source code is included.

This is a scalping system. Risk is never more than 2% per trade and you never have more than one trade open. The indicator plots levels of support and resistance . A trade is entered on a breakout of support or resistance .

The author recommends to trade this system from the opening of the London session (8:00am GMT) to 3:00pm GMT. The two wins I had today were from about 1:30-2:00pm GMT). This also means that if I want to catch the London open, I will have to get up for 3:00am my time...yuck.

The trade entry is manual or semi-automatic if you place pending orders. The indicator is easy to read and the entry instructions are clear (not absolutely objective but close).

Once the trade is in progress, the Swiss Army EA manages the exit according to one of four trading profiles (implemented as set files). I chose the super conservative profile with a hard 10 pip stop and a 3 pip trailing stop.

I started trading this system this morning and within half an hour, I made my 2% with two winning trades in a row. The author teaches not to over trade. Once I make my 2%, I stop trading.

The plan is to trade this on a demo account for about three months and get to know the system and the GBPUSD pair at it's busiest time before I go to a live account.
Link: http://www.myfxbook.com/members/rsmereka/two-percent-daily/47235


Note that when I re-generated this demo account, I neglected to write down the master password and the investor password so the MyFXBook stats cannot be verified.

Rick

[gross77777]

Hi Rick,

Two percent daily looks like an interesting system.It is through paypal,so no refunds.Did anyone test and independantly review it ?

Thank you

[rsmereka]

Originally Posted by gross77777

Hi Rick,

Two percent daily looks like an interesting system.It is through paypal,so no refunds.Did anyone test and independantly review it ?

Thank you

The author claims that he will give a refund within 30 days as long as you supply an account statement showing trading at a loss.

Yes, I am independently testing and reviewing it We will know in short order whether the system is profitable.

Rick