Dear Fellow Forex Traders,
I just lost a big chunk of money with LowestDD. I had it set to 3 total open max trades and 1 max trade per currency with a 275 pip stop. And they all got hit!
What I learned by viewing his past performance and open trade history was that many of his trades go down before coming back up for a profit.
Some of his GBPUSD trades have gone down to -400 pip range with -423 being the lowest during the month of Novermber so I have decided to restrict the amount of trades to 1 total max trade but with a 430 pip stop loss. However I must add that when he was trading the EURJPY pair, he had some trades go down to -641 pips.
These are large stops however his system does produce. You may need a larger balance to trade this system in order to survive the larger drawdowns.
In conclusion, I don’t want to give up on LowestDD however his system does seem to be geared toward accounts with bigger balances to allow for the higher quantity of trades he opens and the larger drawdown.
However if LowestDD doesn't produce with my new settings, I will have to remove them.
Here are two screen shots of my recent trades using Pattern Search, Surfing and Tech Trading. Tech Trading is a little like LowestDD so it needs a 375 pip stop. There was only 1 trade on 10/21 that went to a low of 445 before closing at a profit of 26 pips.
http://WealthSecrets.com/images/ZulutradeNov19Trades.jpg
http://WealthSecrets.com/images/mySettingsNov19.jpg
Hope this helps you all.
Feel free to call or email me if you have any questions or comments.
Mike in Miami
http://WealthSecrets.com
http://ForexHosting.com
http://GetPaidToTrade.com
http://ZulutradeResults.com
(305) 389-0170 cell
Thursday, November 19, 2009
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