2100033452-NightScalper Discussion

I am using the same EA, but my drawdown is far less. Weird.

fastdrive55 posted:
I am using the same EA, but my drawdown is far less. Weird.

tell the newbies why your dd is less please ?

got it on 2 different acc IC and FXopen, same, and below the link from paul master account you will see, still waiting paul to reply.
http://www.myfxbook.com/members/ea_pex/steady-nightscalper/1342524
Very strange

i'm using the same risque ratio, but my account is bigger .

The last 2 nights was very bad, and paul master acc,😲 as well

i drop him a mail this morning trough the simple trader signal, no reply ?????
Only following is signal for a week, was working well until 2 night a go griiiiiiiiiiiiiii

no trade, last night, dead still ,no news from paul, and no trade in is master account, same on MFM5 EA nada.

I always inform my subscriber at simpletrader :)

Just have a look at the dashboard.
Here are my lastest news from yesterday:

Hey friends,

I took the time yesterday and wonder about, how I can improve my signal. Here are my thoughts and my next steps starting from today:

1.) I will not use the recover function anymore. The strategy will be profitable even without this second recover position for the same pair. This will reduce the risk, if something like the last 2 days will happen again.
2.) I will open max. 2 different JPY position at the same time. So you will not see a EURJPY, GBPJPY and CADJPY position on the same time anymore.
3.) I will reduce the risk for the JPY positions a bit
4.) I will start with my improved settings from today. This will lead to significant less JPY-positions, but with better entry points. And you can expect much more EURCAD positions + some CHF pairs are improved. I will post some backtests later from my lastest results.
5.) I will reduce the risk of all pairs for 1-3 days (depending on the results).

I hope you see, that I'm going to reduce the risk and improve the overall results.
I'm still confident in this strategy and hope we will get back the loose in a few days/weeks.

For all who are waiting for a answer: I will answer all questions today step by step.

UPDATE: As promissed, here are some 5 years backtest-results (tick data based) of my current optimized settings. They are all for CADCHF and with a fixed spread of 4 pips (40 points).

Fixed 1 lot - max. profitfactor:

https://www.dropbox.com/s/s7ofg05t4xgnghf/CADCHF_1_lot_max_profitfactor.png?dl=0

Fixed 1 lot - max. profit:

https://www.dropbox.com/s/rfcwtii12llm4np/CADCHF_1_lot_max_profit.png?dl=0

Dynamic lot starting from 1 lot - max. profit:

https://www.dropbox.com/s/wsnd6gdcrkcks7f/CADCHF_1_dynamic_lot_max_profit.png?dl=0




Greetings
Paul

ea_pex posted:
I always inform my subscriber at simpletrader :)

Just have a look at the dashboard.
Here are my lastest news from yesterday:

Hey friends,

I took the time yesterday and wonder about, how I can improve my signal. Here are my thoughts and my next steps starting from today:

1.) I will not use the recover function anymore. The strategy will be profitable even without this second recover position for the same pair. This will reduce the risk, if something like the last 2 days will happen again.
2.) I will open max. 2 different JPY position at the same time. So you will not see a EURJPY, GBPJPY and CADJPY position on the same time anymore.
3.) I will reduce the risk for the JPY positions a bit
4.) I will start with my improved settings from today. This will lead to significant less JPY-positions, but with better entry points. And you can expect much more EURCAD positions + some CHF pairs are improved. I will post some backtests later from my lastest results.
5.) I will reduce the risk of all pairs for 1-3 days (depending on the results).

I hope you see, that I'm going to reduce the risk and improve the overall results.
I'm still confident in this strategy and hope we will get back the loose in a few days/weeks.

For all who are waiting for a answer: I will answer all questions today step by step.

UPDATE: As promissed, here are some 5 years backtest-results (tick data based) of my current optimized settings. They are all for CADCHF and with a fixed spread of 4 pips (40 points).

Fixed 1 lot - max. profitfactor:

https://www.dropbox.com/s/s7ofg05t4xgnghf/CADCHF_1_lot_max_profitfactor.png?dl=0

Fixed 1 lot - max. profit:

https://www.dropbox.com/s/rfcwtii12llm4np/CADCHF_1_lot_max_profit.png?dl=0

Dynamic lot starting from 1 lot - max. profit:

https://www.dropbox.com/s/wsnd6gdcrkcks7f/CADCHF_1_dynamic_lot_max_profit.png?dl=0




Greetings
Paul

This is a mistake, first off to think just because you have 1 losing day you need to change system. Losses go both ways and are built in so if you tamper with it and limit the trades which could be profitable then you probably only limiting your overall profit down the road. This system works and doesn't need to be changed around! Just lower risk

Well said FXtrader2010!


Hello Paul.

What is your backtesting environment and what tickdata source do you use for the tests?
How do you adjust for DST shift while performing the tests on your data?

Out of an investor perspective:
If you change the system on the fly and all your followers are automatically part of the beta testing group.
How do you compensate if things go wrong?

Will you maintain a system with the actual parameters to verify/testify that the changes are beneficial?

What about lowering the signal fee to twice of the amount of what you have to pay to simpletrader as you should be able to generate much more revenue by running the system on your three accounts?

Regards

I actually don't understand the complaints. There is no profit without risk. And there is no profit without losses. A loosing day or two lossing days is not a contradiction of a good system.

Paul has a great system. And it is not a surprise to me that the system doesn't work any single day. He has never claimed that. To me it seems the followers need to grow up and digest losses or come up with their own, 100% bullet proof system....

fastdrive55 posted:
I am using the same EA, but my drawdown is far less. Weird.

Could be that I use less currency pair. But I also think my loss tolerance is far higher :-)

The MFM EA is great indeed, using ALL the recommended pairs and with LOWERED risk settings IE the lot multiplier value.

FXtrader2010 posted:
The MFM EA is great indeed, using ALL the recommended pairs and with LOWERED risk settings IE the lot multiplier value.

Do you know why the EA only does buys?

Because they are profitable.
The EA handle the sells in a different way.

oh what happened? I notice this system disappeared of my watch list...

aeronthomas posted:
oh what happened? I notice this system disappeared of my watch list...

That is what happened Ozzie:



NightScalper: YES
Grid: YES (in spite of the official description on SignalStart)
Steady: NO

P.S. I used to be a subscriber of this signal in the early times, but it was too risky for me in spite of its "steady" gains, so I quit. It is almost a miracle that it has lasted so long without a crippling DD...

P.S.2. Even though a signal provider may promise "NO GRID", it means nothing as the above example shows on August 11th when 4 grid entries on GBPAUD has caused the major DD.

Are there any real indications how the system actually traded and what indicator it uses? From where we can definitely know, it is grid trading?