Did anyone catch that amazing EUR/USD sell position? It was opened at some point this morning for me and completely took off after the ECB press conference! - well pleased. However, I am confused that I can't see it on the actual CTP myfxbook?
swing did not catch that move. That was most likely a news event and it affected a lot of pairs. The swing trader strategy is basically when the price reaches 2 standard deviations away from the average you will enter a trade and take profit when price goes back to the average. So it's definitely not a trade with the current short term trend strategy. You are kinda trading against it. I have 6 open trades right now. And I think I entered them too close to this news event. I should have waited another day. They are all drawdown about 70 pips currently. But I think it will catch the market correction and move back down to the average +150 pips. I closed 7 other trades this week. Smallest one was +40 pips. I like manual trading a lot better.
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Where is everybody? At church/synagogue/mosque praying for divine intervention on these two trades?
Fingers crossed CTP recovers.
It seems to me a consistent trait of successful EA's that the strategies start to fail over time having had a sometimes lengthy successful runs. Some discussion here about why strategies generally start to fail and oft quoted 'changes in market conditions' might be good. Be equally good if Doug gave us his own insights, and what he thinks is happening in the market.
Best hope on the AUDCAD play is if RBA statements are leaning towards lower rates late Thurs/early Fri GMT and/or better than expected CAD employment stats.
Regarding EURJPY, no news coming I can see that might affect current levels. Heading in right direction, but strong resistance at 132.13 and 131.34, both of which are above our entry price. May be better to cut and run as near to B/E as possible.
Really don't want to be going into a second weekend with these trades open - as I'm sure any of you - or Doug do/does.
Update on my last post - I guess Divine intervention took place (Doug closing out manually...?) on the EURJPY position. Frankly I'm happy with a 16pip loss versus the 120+pip drawdown we've seen. Thank you Doug!
Only possibility of some relief pre weekend is more positive than expected CAD employment figures on Friday.
After that, we're into next week for the long haul/pertinent news events to the pair: Tues 10th 01.00GMT CNY PMI Y/Y Weds 11th 05.30GMT CNY industrial production figures. Thurs 12th 12.20am GMT AUD Employment Change and Unemployment rate
I am an user of Channel pro since august this year.
It is true the the recent past performance has been disappointing but I must say that all trades reflected in myFxbook account are identical to the ones in my real account.
I lost money with this system. It is true. But it is true that during August / September I had amazing profits. I insist. This profits were on my real account.
Therefore I would wait before saying that the system is Scam. Actually in my country you could afford criminal pennalties accusing a company of being Scam without evidence.
While I do not know if the system and the provider are true and therefore I will not accuse anybody of anything, the true is that the risk/profit ratio does not convince me. Therefore I will stop using it. This is the only reason.
Also I have seen that a lot of very good systems failing during September and October. May be this means that the market is changing.
I am using other Doug's products and so far I can not complain.
Good news on CAD unemployment data. Back to a mere 84pip DD as opposed to the earlier 126pip deficit. Not enough to dig us out of the trade so only bad CNY AUD data next week will give us a chance to BE.
Getting concerned at the increased frequency that CTP makes bad trade decisions. I'm tempted to place opposite trades to CTP as I would stand to make a lot more pips than CTP is struggling to achieve these days. :(:(
Trust the system. It's been down -180 pips before and come back to be a winning trade. Your risk shouldn't be too much that you need to manually close trades. if your palms are sweating and you are losing sleep over it. Your risk is too high. Most professional traders don't risk over 5% in any single trade. Makes it easier to set it and forget it and let the market play out as it will.
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