I started in this forum a while ago when I was considering opening a real money account to use my Avonko EA in. I have opened an Oanda account at 100:1 leverage and I’ve been only trading with the Avonko EA, I’m just going to use this thread as a way to keep track of my results and give anyone here the opportunity to see what to expect when trading with an EA
For money management, I’m adhering to the guidelines set forth in the Avonko EA instructions, so I’m not going to risk more than 3% on any one particular trade.
My avonko parameters:
ChannelStart: 23
ChannelStop: 9
Cleaning Hour: 18
Lot Size: 2.0
Thanks for providing me the opportunity to experiment in an open forum and be 100% conscious of my results and my mistakes.
Since I am starting this thread now I am going to treat it as if this is the first trade in my account. I’ve withdrawn my balance back to $5000 USD yesterday and I’m going to trade based solely on these parameters and post my results.
Overnight (by US CST time), Avonko made one trade last night, here are the details of that trade:
I have to comment though, that the 30 pip take profit and stop loss guideline is default in Avonko, I have not changed it, although you can when you use the system yourself.
I appreciate your input. I do trade $10 a pip for the time being. As for your other comments, I do only trade once per day with the system, and I set stop loss points to ensure that I never risk more than 6% of my balance on any one trade. Even that may be excessively risky, but I set out with this account to trade aggressively with this system.
No I have an idea, and it is interesting to watch and learn how to apply technical indicators like this. Basically it calculates a range of prices based on lighter trading during the Asian market hours and then trades the breakouts of these ranges during London market hours. I used to follow this type of stuff a lot when I traded options actively so I know the logic behind it, just hoping it continues to be a profitable strategy going forward for this particular currency. I’m going to start demo testing the system on other currencies I think, and see what I come across!
Wow, do you go on ALL the message boards and tout how great your Avonko EA is? I’ve noticed that all the fantastic postings “I’m up $50,000 since thanksgiving”, “I’ve made $900 last night”, “Everyday is like Christmas” all started on Jan 2008.
You would know if you took a second to read my thread, that I’m simply posting my experience using the system so there’s a forum to judge its effectiveness.
Perhaps you should waste less time ranting about something you know nothing about.
Well, I do know the Avonko website was created Jan 2008 and you joined Jan 2008 and all the other posts I read about how great the system is joined their groups in Jan 2008.
Rule #9
Successful traders isolate themselves from the opinions of others
Rule #30
Have you taken a loss? Forget it quickly. Have you taken a profit? Forget it even quicker! Don’t let ego and greed inhibit clear thinking and hard work.
Rule #41
Never volunteer advice and never brag of your winnings
I hope this is meant to be constructive and not a slam directed my way. Anyways, I will try harder to internalize #9! And I don’t intend to volunteer advice unless I think truthfully that it will be beneficial to the listener,
So far I have 5 winners and 1 losing trade, I am missing two of my trades here but they cancel out in terms of overall effect on the account, as I use the same t/p and s/l parameters
I must note though that I have been trading pretty conservatively, trying to avoid trading on any day on which there is a scheduled release that is anticipated to impact the currency significantly, as indicated by following the economic calendars at forexfactory, and I have not been trading really on the weekends
I am happy with my results thus far though, and I am going to avoid the urge to over-trade!