1MinuteDaily.com

aztrades

Private, 1st Class
Messages
28
November Results

Greetings all,


Herewith my results for November, strictly by the book. For the date, I use the end of the breakout areas. (B)uy, (S)ell, (W)on, (L)ost, (O)pen:

GBP/USD:

11/01 – B, L
11/02 – B, L; S, W
11/03 – B W
11/04 – B, W
11/05 – No Trade Friday (would have been S, W)
11/08 – S, W
11/09 – B, L; S, W
11/10 – B, W
11/11 – S, W
11/12 – No Trade Friday (would have been S, L, B, L)
11/15 – S, W
11/16 – B, L; S, W
11/17 – B, W
11/18 – B, W
11/19 – No Trade Friday (would have been B, L; S, W)
11/22 – B, L; S, W
11/23 – S, W
11/24 – S, W
11/25 – S, W
11/26 – No Trade Friday (would have been S, W)
11/29 – S, L
11/30 – S, L; B, W

Total – 16 W, 7 L

USD/JPY:

11/01 – No Trade (no breakout)
11/02 – B, W
11/03 – B, W
11/04 – No Trade Thursday (would have been S, L)
11/05 – B, W
11/08 – S, W
11/09 – S, L; B, W
11/10 – B, W
11/11 – No Trade Thursday (would have been B, L; S, W)
11/12 – B, W
11/15 – B, W
11/16 – B, W
11/17 – S, L
11/18 – No Trade Thursday (would have been B, W)
11/19 – No Trade (no breakout)
11/22 – S, L: B, W
11/23 – S, L
11/24 – B, W
11/25 – No Trade Thursday (would have been B, W)
11/26 – B, W
11/29 – B, L
11/30 – S, L

Total – 12 W, 6 L

GBP/JPY:

11/01 – No Trade (no breakout)
11/02 – B, W
11/03 – B, W
11/04 – B, L
11/05 – B, L
11/08 – S, L
11/09 – S, L, B, W
11/10 – B, W
11/11 – B, L; S, W
11/12 – B, L
11/15 – B, L:, S, L
11/16 – S, W
11/17 – S, L; B, W
11/18 – B, L
11/19 – S, W
11/22 – S, W
11/23 – S, W
11/24 – B, L
11/25 – B, L; S W
11/26 – S, W
11/29 – S, W
11/30 – S, L


Total – 13 W, 13 L

Totals for all 3 pairs: 41 W, 26 L

Best month in quite some time!


Best regards,
AZ
 

1MinuteDaily Support Team

1MinuteDaily.com Representative
Messages
34
1MinuteDaily Rocks! - Latest Results

Hello,

after a pause in September, the system has recovered:

September, October, November
Results



It is amazing to see that the system performing well after two years of live trading (it was published in 2008) without any change to the original strategy.

It is also interesting to see the psychology of new traders. Traders use to abandon a system at times when it does not make a profit or it is suffering drawdown. But right after that, the system recovers and those traders never see the profit! This is a well-known phenomenon - switching from a system to system. It is very similar to how new traders behave in the stock market - switching from one stock to another and not making money on the trend.

It is exactly what one seasoned trader said...

Step One: Unconscious Incompetence.

This is the first step you take when starting to look into trading. you know that its a good way of making money because you've heard so many things about it and heard of so many millionaires. Unfortunately, just like when you first desire to drive a car you think it will be easy - after all, how hard can it be? Price either moves up or down - what's the big secret to that then - lets get cracking!

Unfortunately, just as when you first take your place in front of a steering wheel you find very quickly that you haven't got the first clue about what you're trying to do. You take lots of trades and lots of risks. When you enter a trade it turns against you so you reverse and it turns again .. and again, and again.


You may have initial success, and thats even worse - cos it tells your brain that this really is simple and you start to risk more money.


You try to turn around your losses by doubling up every time you trade. Sometimes you'll get away with it but more often than not you will come away scathed and bruised You are totally oblivious to your incompetence at trading.

This step can last for a week or two of trading but the market is usually swift and you move onth the next stage.

Step Two - Conscious Incompetence

Step two is where you realise that there is more work involved in trading and that you might actually have to work a few things out. You consciously realise that you are an incompetent trader - you don't have the skills or the insight to turn a regular profit.

You now set about buying systems and e-books galore, read websites based everywhere from USA to the Ukraine. and begin your search for the holy grail. During this time you will be a system nomad - you will flick from method to method day by day and week by week never sticking with one long enough to actually see if it does work. Every time you come upon a new indicator you'll be ecstatic that this is the one that will make all the difference.

You will test out automated systems on Metatrader, you'll play with moving averages, Fibonacci lines, support & resistance, Pivots, Fractals, Divergence, DMI, ADX, and a hundred other things all in the vein hope that your 'magic system' starts today. You'll be a top and bottom picker, trying to find the exact point of reversal with your indicators and you'll find yourself chasing losing trades and even adding to them because you are so sure you are right.

You'll go into the live chat room and see other traders making pips and you want to know why it's not you - you'll ask a million questions, some of which are so dumb that looking back you feel a bit silly. You'll then reach the point where you think all the ones who are calling pips after pips are liars - they cant be making that amount because you've studied and you don't make that, you know as much as they do and they must be lying. But they're in there day after day and their account just grows whilst yours falls.

You will be like a teenager - the traders that make money will freely give you advice but you're stubborn and think that you know best - you take no notice and overtrade your account even though everyone says you are mad to - but you know better. You'll consider following the calls that others make but even then it wont work so you try paying for signals from someone else - they don't work for you either.


You might even approach a 'guru' like Rob Booker or someone on a chat board who promises to make you into a trader(usually for a fee of course). Whether the guru is good or not you wont win because there is no replacement for screen time and you still think you know best.


This step can last ages and ages - in fact in reality talking with other traders as well as personal experience confirms that it can easily last well over a year and more nearer 3 years. This is also the step when you are most likely to give up through sheer frustration.

Around 60% of new traders die out in the first 3 months - they give up and this is good - think about it - if trading was easy we would all be millionaires. another 20% keep going for a year and then in desperation take risks guaranteed to blow their account which of course it does.


What may suprise you is that of the remaining 20% all of them will last around 3 years - and they will think they are safe in the water - but even at 3 years only a further 5-10% will continue and go on to actually make money consistently.


By the way - they are real figures, not just some ive picked out of my head - so when you get to 3 years in the game dont think its plain sailing from there.


Iv had many people argue with me about these timescales - funny enough none of them have been trading for more that 3 years - if you think you know better then ask on a board for someone who's been trading 5 years and ask them how long it takes to become fully 100% proficient. Sure i guess there will be exceptions to the rle - but i havent met any yet.


Eventually you do begin to come out of this phase. You've probably committed more time and money than you ever thought you would, lost 2 or 3 loaded accounts and all but given up maybe 3 or 4 times but now its in your blood

One day - im a split second moment you will enter stage 3.

Step 3 - The Eureka Moment

Towards the end of stage two you begin to realise that it's not the system that is making the difference. You realise that its actually possible to make money with a simple moving average and nothing else IF you can get your head and money management right You start to read books on the psychology of trading and identify with the characters portrayed in those books and finally comes the eureka moment.

The eureka moment causes a new connection to be made in your brain. You suddenly realise that neither you, nor anyone else can accurately predict what the market will do in the next ten seconds, never mind the next 20 mins.


Because of this revelation you stop taking any notice of what anyone thinks - what this news item will do, and what that event will do to the markets. You become an individual with your own method of trading


You start to work just one system that you mould to your own way of trading, you're starting to get happy and you define your risk threshold.

You start to take every trade that your 'edge' shows has a good probability of winning with. When the trade turns bad you don't get angry or even because you know in your head that as you couldn't possibly predict it it isn't your fault - as soon as you realise that the trade is bad you close it . The next trade or the one after it or the one after that will have higher odds of success because you know your system works.


You stop looking at trading results from a trade-to-trade perspective and start to look at weekly figures knowing that one bad trade does not a poor system make.


You have realised in an instant that the trading game is about one thing - consistency of your 'edge' and your discipline to take all the trades no matter what as you know the probabilities stack in your favour.

You learn about proper money management and leverage - risk of account etc etc - and this time it actually soaks in and you think back to those who advised the same thing a year ago with a smile. You weren't ready then, but you are now. The eureka moment came the moment that you truly accepted that you cannot predict the market.

Step 4 - Conscious Competence

You are making trades whenever your system tells you to. You take losses just as easily as you take wins You now let your winners run to their conclusion fully accepting the risk and knowing that your system makes more money than it looses and when you're on a loser you close it swiftly with little pain to your account

You are now at a point where you break even most of the time - day in day out, you will have weeks where you make 100 pips and weeks where you lose 100 pips - generally you are breaking even and not losing money. You are now conscious of the fact that you are making calls that are generally good and you are getting respect from other traders as you chat the day away. You still have to work at it and think about your trades but as this continues you begin to make more money than you lose consistently.

You'll start the day on a 20 pip win, take a 35 pip loss and have no feelings that you've given those pips back because you know that it will come back again. You will now begin to make consistent pips week in and week out 25 pips one week, 50 the next and so on.

This lasts about 6 months

Step Five - Unconscious Competence

Now we’re cooking - just like driving a car, every day you get in your seat and trade - you do everything now on an unconscious level. You are running on autopilot. You start to pick the really big trades and getting 200 pips in a day doesnt make you any more excited that getting 1 pips.


You see the newbies in the forum shouting 'go dollar go' as if they are urging on a horse to win in the grand national and you see yourself - but many years ago now.

This is trading utopia - you have mastered your emotions and you are now a trader with a rapidly growing account.

You're a star in the trading chat room and people listen to what you say. You recognise yourself in their questions from about two years ago. You pass on your advice but you know most of it is futile because they're teenagers - some of them will get to where you are - some will do it fast and others will be slower - literally dozens and dozens will never get past stage two, but a few will.

Trading is no longer exciting - in fact it's probably boring you to bits - like everything in life when you get good at it or do it for your job - it gets boring - you're doing your job and that's that.


Finally you grow out of the chat rooms and find a few choice people who you converse with about the markets without being influenced at all.


All the time you are honing your methods to extract the maximum profit from the market without increasing risk. Your method of trading doesnt change - it just gets better - you now have what women call 'intuition'

You can now say with your head held high "I'm a currency trader" but to be honest you dont even bother telling anyone - it's a job like any other.

Source: forexfactory forum

Wishing you success!
 

82nd

Recruit
Messages
1
Where' MOB

Anyone ever hear back from MOB regarding his scalping strategy ?? He sure was one sharp cookie


Spunkyone,

That would be great if you can make an EA out of this! Here are the steps:

Step 1:

Lag Indicator has to reach extreme levels first, which are 1.00(sell signal) and 0.00(buy signal)

Step 2:

Wait for the RSI to reach 75+ for sell and 25- for buy

That's it, simple as that...

Usually prices are above the yellow bollinger band when the Lag has reach 1.00 or 0.00.

Also the Stochastics indicator has reached extreme levels as well when the Lag has done so. The Stochs is just an indicator some people may want to use to enter trades when it starts to turn back to the other direction signaling the change in trend.

But just those two steps is all you need buddy, simple as that. :)

I hope that you can get this thing going soon, that'll be nice. Shoot me an email when you're done cenmon@gmail.com
 

mz2000

Recruit
Messages
3
Hi 1MinuteDaily Support Team ,
You were talking about a new version of the EA and that the ones, who bought the system will receive notification when it will be available. Since then I have onnly received an email about a Special Update that says nothing about the EA.
When will this update be available?
kind regards,
Mz
 

1MinuteDaily Support Team

1MinuteDaily.com Representative
Messages
34
Hi 1MinuteDaily Support Team ,
You were talking about a new version of the EA and that the ones, who bought the system will receive notification when it will be available. Since then I have onnly received an email about a Special Update that says nothing about the EA.
When will this update be available?
kind regards,
Mz
The latest version of EA is stable and works well.

Also, this trader trades our 1MinuteDaily strategy LIVE with happy results!
ZuluTrade - Signal Provider Performance - Big Ben
His account is growing rapidly and he is now betting 8 lots (!) per trade.
 

JREtrader

Recruit
Messages
1
2009 results

Hi guys

I have been using 1MD for some time now, and I have manually back-tested GBP/USD extensively since Jan 2008. From the results of my back-tests, I now trade it differently to the standard method (see below).

The real problem with 1MD (as the previous post mentioned) is the 'D' days. Get 2 of these in a week and its goodbye profits for the whole week. The current market action seems to be creating a far higher ratio of 'D' trades.

So, the strategy has only a slight (but consistent) edge, with a win probability of about 55%. Add to this that the win/loss ratio is actually slightly negative, and you can see the problem. Choppy markets are one reason for the poor recent performance, but also the reduced ATR of GBP/USD must also be another. Consider that 12 months ago, GBP/USD had an ATR of about 220. Recently its about 130. Add to this that about 60 pips is already done overnight duriing the asian session, and there's not a lot of meat left for sustained breakouts.

My solution:
Set your stop loss to 50% of the night range. This will completely alter the win/loss ratio favourably. It will also unfortunately reduce the win probabilty, but not enough to be a concern. Back-tested since Jan 2008 (using 3 broker feeds) and with a range of 21:00 - 09:00 London time (adjusted for GMT/BST) the results are very much better.

For 2009, there were 3 months were my method gave worse results than the official method, but the remaining 9 months gave much better results. Similarly for the whole of 2008 and also for this year.

With my 50% SL setting, there is no need to fear the dreaded 'D' day, as a win the following day will pretty much get you back on track. Also, 'B' days now become become earners (loss 50%, win 100%).

Don't try and back-test this with the EA. It's pretty rubbish really as it doesnt take a trade during the overnight session. Don't take my word for it. Manually back-test it and do your own research.

This month (Sept) was pretty horrible for G/U:
Normal 100% SL = 7xA, 1xB, 5xC, 3xD
With 50% SL it is 5xA, 1xB, 6xC, 4xD

Allowing for my 3-pip offset (for spread) and risking 3% per trade, using the 100% SL method would have given me -3% for a loss and about +2.85% for a win.
With the 50% SL method, it is more like -3% for a loss, and +5.7% for a win.
Do the maths on September so far and you can see the benefits. It might not turn a lousy month into a winner, but the losses are contained.

Another bonus is that the drawdowns are significantly reduced because of the higher expectancy.

Anyway, food for thought if you are fed up of struggling.

Regards

Dave

Hi Dave,

Is there a way of contacting you. Couple of things you've mentioned here that I'm also working on - especially with regards to whether the size of the overnight range has an effect on success. However intially I'd be interested to know what your manual backtest showed up on gbp/usd for 2009. On a backtest a did on MT4 using original strategy (using my own EA) it showed about 11 net winners for the year. This seems way out of line with the type of results the 1min daily people suggest. Even if I ignore % returns (as I wouldn't risk 5%) 11 winners is not going to give them the results they seem to suggest. Either that or my EA is not working properly. By the time it accounts for losing slightly more than you win it leaves me with about a 7% return (based on 1% risk). Therefore would be interested to know what you came up with for 2009 to see if that is actually the result or whether the EA is not behaving itself.

Thanks,
Justin
 

agent007uk

Recruit
Messages
7
My backtest results for 2009, trading all days except NFP:

A=124, B=45, C=43, D=29

Giving 169W, 146L (23 Net Wins). Probably about +40% for the year at 3% risk, 2.85% reward

My 50% SL for the same period:
A=91, B=37, C=78, D=35

Giving 128W, 150L (22 Net Losses). About +275% for the year at 3% risk, 5.7% reward.

Trading NPF would have resulted in 4 further losses for the year (net).

Dave
 

aztrades

Private, 1st Class
Messages
28
January Results

Greetings all,

Herewith my results for January, strictly by the book. For the date, I use the end of the breakout areas. (B)uy, (S)ell, (W)on, (L)ost, (O)pen:

GBP/USD:

01/03 – S, L
01/04 – B, L
01/05 – S, W
01/06 – B, L; S, W
01/07 – No Trade Friday (would have been B, W)
01/10 – B, W
01/11 – S, L; B,W
01/12 – B, L; S, L
01/13 – B, W
01/14 – No Trade Friday (would have been S,L; B, W)
01/17 – B, W
01/18 – B, L
01/19 – B, L; S, W
01/20 – B, L; S, L
01/21 – No Trade Friday (would have been S, L; B, W)
01/24 – S, L; B, L
01/25 – S, W
01/26 – B, W
01/27 – B, L; S, L
01/28 – No Trade Friday (would have been B, L; S, L)
01/31 – B, W


Total – 10 W, 14 L

USD/JPY:

01/03 – B, W
01/04 - No trade (no breakout)
01/05 – B, W
01/06 – No Trade Thursday (would have been B, L)
01/07 – B, L; S, W
01/10 – S, L
01/11 – B, L
01/12 – B, L; S, W
01/13 – No Trade Thursday (would have been S, W)
01/14 – B, L
01/17 – S, W
01/18 – S, L; B, L
01/19 – S, L
01/20 – No Trade Thursday (would have been B, W)
01/21 – S, W
01/24 – B, L; S, W
01/25 – S, L; B, L
01/26 – B, W
01/27 – No Trade Thursday (and no breakout)
01/28 – S, W
01/31 – S, W

Total – 10 W, 11 L

GBP/JPY:

01/03 – B, W
01/04 - No trade (no breakout)
01/05 – B, W
01/06 – No Trade (no breakout)
01/07 – B, L; S, L
01/10 – S, L; B, L
01/11 – B, W
01/12 – B, W
01/13 – B, L; S, L
01/14 – B, W
01/17 – B, W
01/18 – B, L; S, W
01/19 – S, L
01/20 – B, L
01/21 – B, L
01/24 – S, W
01/25 – S, L
01/26 – B, W
01/27 – B, L
01/28 – S, L
01/31 – B, W


Total – 10 W, 13 L

Totals for all 3 pairs: 30 W, 38 L

After a very good November and an ok December, the system is not performing well now. I can also report that the EA does not behave well and does not follow the system rules, regardless of the settings.

Best regards,
AZ
 

agent007uk

Recruit
Messages
7
AZ can you elaborate on what problems you are having with the 1MD EA?

My EUR/GBP trades for Jan are 14xA, 3xB, 2xC, 2xD (all results if trading by the rules, but I am not yet using the EA).

Dave
 

aztrades

Private, 1st Class
Messages
28
AZ can you elaborate on what problems you are having with the 1MD EA?

My EUR/GBP trades for Jan are 14xA, 3xB, 2xC, 2xD (all results if trading by the rules, but I am not yet using the EA).

Dave
Hi Dave,

The EA is random with entry, exit and trade size. I have not been able to figure out why. Today's gbp/jpy short, for example, was 1.5 hours and 60 pips late.

What parameters are you using for eur/gbp?

Regards,
AZ
 
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