Well I think I have some vary good data to reveal to everyone. But you have to wait to get it. As for the bad news we are in a streak of 8 loses in a row. I have a vary good reason for this but like I said I wont tell for 2 more weeks. So if you want the advanced release you can buy it on pay per view for $50.00USD.
O.K. enough clowning around tonight we have another buy at 1.3978 with a s/l of 1.3953 the t/p’s are 1.3991, 1.4003 and 1.7015.
Lets pray to Pipgod for good luck. Or should that be the God of pips?
Here we go entering the last week of the experiment and last week was either the worst or the second worst week we had. All 3 accounts suffered major losses. Too many to add up. If this was a real account I would have not traded last week due to sideways market and major losing streak.
Well onto tonight we are buying at 1.4103 with a s/l of 1.4078 and the t/p’s are 1.4116, 1.4128 and 1.4140
I guess its a good thing that this experiment is coming to an end at the end of this week. Because we are in the biggest losing streak of the whole experiment. Both trades last night and this mourning on all three accounts were all losers. I have come up with a new idea. After this experiment I am thinking of taking the same accounts and trying a real system to see if I can pull it out of the gutter. Any input? What do y’all think?
So for tonight we got a buy signal so we bought at 1.4144 with a s/l of 1.4119 and the t/p’s are 1.4157, 1.4169 and 1.4181
You guys got lucky tonight I have been trying to goto bed for 1 1/2 hours now. And during that time the AM trade from thi mourning has closed so I had to make a trade tonight. But first last nights trades. Do I really have to tell you how it went? Yep both night and AM trades were all losers. I am afriad to tell you what the stats are over the past 2 weeks are it seems like since I annouced the retirement of this experiment the quarter decided to, if I used the approiate word then babypips would have to censor me so I wont go there.
So tonight we bought at 1.4140 with a s/l at 1.4115 the t/p’s are 1.4153, 1.4165 and 1.4177
OK tonight I am going to bed early so I am making the trade at 10:00pm instead of the normal11:00. What can I say I have to get up at 4:00 to be at work. Then I have a long weekend and on top of it all Frankentruck is sick so I have to spend what ever free time I have fixing him.
Last nights trades were still open this mourning so there was no AM trade. But the night trade did close on a WIN. YEA!!! Thats one in a row and we will take it. Party on dude.
As we enter the last day of trading there is bad news. George came up again and that means buy. AT 1.4163 the s/l is 1.4138 and the t/p’s are 1.176, 1.4188 and 1.4200. Who here has seen the bad news?
Answer! I don’t think we will win on the 1.5 -1 account. With a t/p of 1.4200 This is the highest the eur/usd has been since 1995. This is a 12 year ceiling if that is not a resistance line then I don’t know what is. Anyway I don’t see that trade making any money tonight. Anyone who wants to hold on and hope you might get your wish but watch it close.
Still no comments on weather I should try to turn these accounts around with a real system or not. Give me some input.
Well tonight is filled with both good and bad news. First I was wrong about friday not turning a profit, so I don’t know if that is good or bad. Good because we won but bad because it broke the ceiling that I thought it wouldnt break.
The past two weeks were pretty devestating on all of our accounts. I think they were around 30%. I say I think because that brings up the real bad news. When I turned on my computer tonight and looked at my account, it was wipped out. The same problem with the first experiment. At least this time they waited until it was over befor they killed me.
So all the good data I was about release to all of my loyal subjects has just been lost. But since I posted everything on this post I guess I can go back and do all the math. But I don’t think I have enough beer for all of that.
One of the big jokes I had been posting is selling this system. I was hoping to see if anyone would catch onto this joke. The reason I was selling this system is because I have been saying for about 6 months now that the best way to make a profit off of the forex market is to sell your system to someone else.
So I will give y’all the info I was pondering over the past week.
The final balacnes for the accounts .5-1 1831.90 1-1 4932.82 1.5-1 1714.81
The reasons they ended up losing
Flipping a coin is 50/50 right? Not so the market could go up or down so we have 2 variables with 2 diffeerent outcomes. That means we have a 1 in 4 chance of winning.
Most of the trades were made when I had no reason trading. NO uninsane person would ever trade off of a quarter. Well kangi might. lol. Obver the past 3 months the eur/usd spent alot of time in a sideways trend. When the market is sideways either stay out or keep a keen eye on it. The .5-1 account really did good in this kind of market. I think it did good because it was taking a profit befor it hit either ceiling and the stop was outside of the ceiling.
Some of the losing trades were placed against the trend. Remember the trend is your friend.
So to wrap it up:
.5-1 account lost $169.10 down about 5% not too bad at this rate you need a 67% win to loss ratio to make money. We were aroun 60% I think if we didnt go against the trend then this account would make money. Maybe that should be the next experiment.
1-1 account lost $367.18 I think this account did bad because the t/p was too far away to pull a profit in the sideways market and it did not take enough profit in the trending markets. This account had a bad streak of 8 losses in a row off the bat and ended up losing something like 8 of the last 10 trades.
1.5-1 account lost $285.19 This account was close to pulling a profit but then the market went sideways for most of the last 32 weeks and this is when most of the lose came. The big problem with this account is that when the market was sideways the t/p was outside of the ceiling, we came close to a profit and then it turned and went south. But since it had a high t/p it cought a nice profit on the trending markets. If you wanted to play this way then I would say only play the trend.
I have been thinking of trying to adjust the experiment. Still keep the same t/p’s only put in a real system. However I will do this again unless I get some people telling me that they are still intrested in doing this.
Well I think that is it for the great experiment fellow students. Remember you can still buy the system at the check out counter and don’t forget to tip your waiter.
Sorry about that the 1-1 account ended up at 1632.82 down almost 20%. Still not bad for a insane system.
All accounts started with a $2000 balance.
I think next month I will do an experiment with the same s/l and t/p’s only this time I will follow the trend. So what time frame should I use. The trade time will still be at 11:00pm est (+5gmt) But since I play indoor soccer during the winter I might be late on a few trades. I think the only time frame to look at for this system is the 1 hour, 4 hour and day charts. What shoud confirm a trend? 3up candles, cross over 50 day ema? Give me some ideas.
Also if someone would like to help we could have one person do the hour chart, one on the 4 hour and another on the day chart. That way wwe can get some excellent information.
Makes sense now was wondering why you was so hard on the 1-1 when it looked liked it kicked ass. ;o)
I personally would like to see something that follows the daily. Think to many newbies try to go straight for the 1 and 5 minutes. Might be nice to show they can make money on just the daily’s. would be easier to track possibly start capturing the 3 to 5 day waves. ;o)
to keep it simple might just go with the bare basics and just a sma cross. think that is the most basic way most people that are starting identify a trend
Even if you don’t get around to doing a 3rd test. I think this experiment really hit a homerun. Didn’t have to hit a profit to be valueable experiment.
Everytime I view a post that says they blew up their account, I think to this experiement were it was 3 months of only flipping a coin as to the direction.
and in three months was only down 20%. due to just flipping. ;o)
So if they are blowing up their accounts, in matter of weeks. Maybe flip a coin until you can find a better indiciator… lmao