Never judge a system on the number of pips it produces, it really means very little.
Lets take a closer look. In this particular case when you win you win 20 pips and when you lose you lose 30 pips so basically if you are familiar with trading practices you’d know its not a good idea to risk more than 2% especially in this system as I see its had several losers in a row several times.
Anyway lets assume you’re a aggressive trader and risk 2% per trade. In which case you stand to make 1.32% if you win and lose 2% if you lose. I don’t even know if he’s factored in the spread in his results.
Anyway assuming he has and compounding we find that since Jan 09 it amounts to roughly a 5% ( rough calaculation) gain or 1% a month. Although this is profitable some may even say respectale (although I wouldn’t ) I’m sure you’ll agree its hardly spectacular.
Number of pips gained really doesn’t say much about a system
Whatever the case great effort by daily20pips in sharing his system for free.
PS>I am not in anyway making fun in fact I am thankful to him for sharing his system and teaching ppl about the value of past performance and expectancy I’m just trying to say don’t go gaga over number of pips, it really tells you very little
And I am making fun of him!! He’s been banned from a number of other forex sites for using this barely break-even system to promote his advertisement laden website.
i haven’t read your thread, I will read later when i get time. His system is actually profitable but very very small profit.
also if someone writes his opinion you shouldn’t call it preaching. Unless of course you think you know it all and I know you don’t.
As for him being baned well thats up to the moderator though i visited his website and checked his performance and everything was free. He’s not forcing anyone to visit his affiliates unless they want to its up to them.
I meant no offense with my “preaching to the choir” comment. I wasn’t calling your opinion “preaching” at all. That’s a common saying in my part of the world and basic means “You don’t have to convince me, I already agree with you.”
If I offended you I apologize. It was not intentional and I definitely don’t know it all.
As for the original posters intentions, we’ll just have to disagree, but that’s ok.
I never chase a holly grail and a “too good to be true” trading system. I just want to stick and discipline to my system. By posting it and record it on my blog daily I will make sure that I stick in following my own system and I’m happy with it (as you can see this thread start at year 2007 and still going on and on)
Just want to share my trading system (as I posted it under “Free trading system” area) and hope it can be usefull for everyone.
The Mod of this site has a good heart, and is teaching a simple system of trading for Newbies to get there feet wet. You have to start somewhere. Yeah the results over the years have not been great with the original system, but we all need a starting point, and there are other variations to trade. Last time I checked, maintaining a real web site is not free. So if adds need to be in place to keep it running then so be it. It doesn’t cost you anything, but I’m sure it cost him to keep it going. Let’s give the guy a break, he does provide a good service. I have learned a lot from him.
[B]D20P / DPG Results For May 2010[/B]
03 MAY 2010 D20P NOT TOUCHED / DPG SELL PROFIT
04 MAY 2010 D20P SELL PROFIT / DPG SELL PROFIT
05 MAY 2010 D20P SELL PROFIT / DPG SELL PROFIT
06 MAY 2010 D20P SELL PROFIT / DPG SELL PROFIT
07 MAY 2010 D20P NOT TOUCHED / DPG SELL LOSS
10 MAY 2010 D20P NOT TOUCHED / DPG NOT TOUCHED
11 MAY 2010 D20P SELL PROFIT / DPG SELL PROFIT
12 MAY 2010 D20P BUY PROFIT / DPG BUY LOSS
13 MAY 2010 D20P SELL LOSS / DPG SELL LOSS
14 MAY 2010 D20P NOT TOUCHED / DPG NOT TOUCHED
17 MAY 2010 D20P NOT TOUCHED / DPG NOT TOUCHED
18 MAY 2010 D20P BUY PROFIT / DPG BUY PROFIT
19 MAY 2010 D20P SELL PROFIT / DPG SELL PROFIT
20 MAY 2010 D20P NOT TOUCHED / DPG BUY LOSS
21 MAY 2010 D20P BUY PROFIT / DPG BUY LOSS
24 MAY 2010 D20P BUY PROFIT / DPG BUY LOSS
25 MAY 2010 D20P NOT TOUCHED / DPG NOT TOUCHED
26 MAY 2010 D20P BUY LOSS / DPG BUY LOSS
27 MAY 2010 D20P NOT TOUCHED / DPG BUY LOSS
28 MAY 2010 D20P BUY PROFIT / DPG BUY PROFIT
[B]D20P May[/B] Total [B]+90 pips[/B]
[B]DPG May[/B] Total [B]+0 pips[/B]
Anybody find they got stop hunted on the 18th April 2011 with this strategy?
I followed the strategy to the letter, but the daily20pips website says the trade resulted in a win, but my broker (demo account) hit the stop loss - just.
Did anyone actually make money off this system or was it a dud and/or scam in the end? Lots of crazy flashing ads on the site which make it look scam like
I did notice he changed the TP to 40 and SL to 20 (earlier in the thread it was TP 20 and SL 30)
