I am back. Been having some hectic days lately. My Demark Expert Advisor is still undergoing major forward testing. At the moment, I am only testing on 2 currency trading brokers which are Interbankfx and OLD Securities. So far I am pretty satisfied with my auto trading system on both these platforms. The only thing is that there is still some bugs to be fixed before I release it for sale...
Here is a true story which happened last week. On one occassion, an erratic trade was opened on in the ODL platform for the GBP/CHF pair. I was disconnected for about 4 hours and when it reconnected, trade was open even though the price was in between both trendlines...Weird.. It should not have open in the first place. Well, i am working to fix this bug to make sure such things won't happen in the future...I will post this erratic trade on my ODL Demark Trading analysis in my next post...
For my loyal readers out there who can't wait to purchase this EA, please be patient. I wouldn't want to rush into selling my EA to you all. Although I can't wait to sell it, but I need to ensure that only quality EA will be sold; that is after extensive testing have been done and most important I do not get weird trades opening.
In this latest update, I am focusing on the Demark Expert Advisor performance trading the GBP/CHF on the Interbankfx Platform on the Hourly Timeframe. I have decent results for the past 2 months, +1,221 pips for January and +259 Pips for January to date.
GBP/CHF Auto Trading System Results for January and February 2008
If you look at my statement, you can see that my trade lots are different. This is because I am testing the Money Management aspect for the EA which is based on Equity Stop. What this means is that I will risk a predetermined amount of my account on a total of all 4 trades. I have set it to 2.5 percent for each trade, this means risking a total 10% of my account in for all the 4 trades opened. Once the equity risk % and stop are determined, the EA will then open the appropriate lot size. At the moment the EA is opening the lot size as I wanted. However I am still testing this MM feature to make sure it's working fine.
With a 10% risk, the EA have been making a total of 73% profit for the past 2 months. Impressive returns! However 10% would be considered as very aggressive to me. I would not recommend this setting for anyone who is going to trade using this EA in the near future. My personal recommendation is to risk about 4% if you have to open 4 positions at once. If the EA can return about 10-20% monthly, I am more than happy. Let's preserve our account for the long term. 10% monthly will generate about 120% return annually. Let's not be greedy. However if you wish to risk 10% of your equity, it's your choice.
By adding a daily filter to the Demark Expert Advisor, I have eliminated bad trades from opening. However when I compare my results in Interbankfx (using Filter) with the ODL (No Filter) platform, I noticed that the results of trading in ODL for the GBP/CHF pair is just as impressive. In my EA, i will have an option if you would like to use the filter or not.
Looking at my last live currency trading which i bagged about 360 pips on the GBP/CHF pair, we could have earned more pips if I let my last trade to run instead of exiting at my preset TP at 2.1654. It rallied down further till 2.1257... Wow! Another 400 pips profit if i were to let it run! I am now thinking of manually changing my fourth trade TP so that i can grab more pips! At the moment I am still bearish on GBP/CHF. For this week, my EA is all set to run in my live account. Let's see how the Demark EA will perform in this coming week.
I am convinced that this EA will work well trading the GBP/CHF pair. For the other pairs, I am still testing. I hope that the GBP/JPY will show some consistency as well. Rite now GBP/JPY is in negative territory; Let's hope it's fortune will reverse this week. As for other pairs, I am still not convinced that it will be consistend over the long run though...
Stay tuned for my ODL H1 Trading analysis on all pairs which I will be posting soon...Have a great week ahead!
