The NMi Super Scalper EA system is a prototype modelled off of the Million Dollar Pips entry but is otherwise proprietary product of New Millennium Inc in every other respect and is entirely adjustable (see backtest for settings in strategies section) inclusive of all facets of entry and trailing.
The very simplistic entry trigger is based on identifying very short term oversold and overbought market conditions on a 1 minute timeframe using a single indicator and trading them on a regression to mean basis. It's an extremely profitable concept on paper but the reality of the real market (versus a demo+backtest environment) is that slippage, and the way the system is able to deal with the influence of slip is the difference between between profit and loss. Slippage is further exaggerated by the fast moving nature of the trigger.
The entire demo account trading history of all the variant to date is shown on NMi's Profile page. Roughly it is divided into 3 segments;
1) 1st version (without spread filter it would take trades with such a wide spread that the SL was immediately hit on entry)
2) 2nd version with spread filter (the spread filter completely eliminated re-occurrence of 1st version issue)
(performed without error/100% hands free)
3) 3nd version with best sets selected (has performed without error/100% hands free)
Current testing on real money accounts history reveals on the upside that 3 of the 6 pairs that have traded so far are in the money on most accounts, with the USDCHF pair being positive in every real money test to date. The downside is that inclusive of all 6 currency pairs traded its in the negative overall.
Briefly the plan of action for late January - Feb:
* More testing of different setting seen to be required.
* More code improvement seen to be required to adjust and allow for the major slippage - being the primary challenge *
* More testing at brokers seen to be required.
*Two potentially significant system development with regards slip in the real market have been identified and will be developed/tested as a matter of priority.
Special invitation received to a private non retail feed that is reputed to be second to none (which I am to assume includes the degree of slip) care of both the indicative performance thus far demonstrated in testing and a long standing association with the parties providing the feed. Expected to come online in February 2012.
Primary objective of the EA is a proprietary asset management tool. Also considering a limited model release with a collaborative flavour.
Brief Updates on this system will be posted here on a monthly basis (approximately). More detailed updates and information about this and any other systems/trader collaborations may also be posted at our blog http://new-millenniuminc.com/blog/
Questions and constructive feedback/comments are welcome