Double in a Day Success 15 February 2017 Channel support retest
This trade had many signals – it was a breakout support retest and also a with the trend channel bounce. Participant in module 2 of the Finding Great Forex Entries Course will recognize this classical setup
See how to pre-program trades so you can make money in your sleep. Click on the photo.
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Alex thank you for your reply. I apologize if I got the terminology wrong and could see that you took great offence where none was intended.
At least I now know to stop wasting my time with my trading with this EA. This I only did because you made a statement last year that you was going to implement into all your EA’s where required the functionality to enter a commission rate and stated that it would be out December or January 2017 at the latest.
Having been a customer of yours for many years and owning a very large proportion of your products your stance on this matter really did surprise and sadden me somewhat. But I’m a big boy and I’ll get over it especially as I trade one of your other products on a live account with immense success.
Despite the fact that I get the impression that you thought that I was just bashing your EA for the hell of it, I was not. Your EA’s are extremely well thought out and coded beautifully, I was just trying to point out what I considered a flaw in this particular EA.
Please get your terminology right. Un-trade-able means the EA will not work at all. The EA will work on commission brokers it will only be more difficult to make money. Effectively it forces you to use the initial risk option which a number of traders use anyway.
Also consider that commission brokers give you better entry when buying and better exits when selling so commission trading is not that bad. The breakeven calculation in the EA are conservative so your loses may not be as big as your initial risk.
WARNING : DO not use a commission broker when trading the DIAD strategy as you effectively will make losses on top up stopouts – Open an account with another broker or don’t trade the strategy. You will not do well going for double in a day trades without the knowledge, guidance and experience you get from the DIAD Entries one-on-one course. This course gives you the best chance of success.
Alex, I do trade this EA on a demo account only, with my broker and I make many many trades trying to hone my entry trades. Took me many years to find a broker that I trust. They do however make commission charges. Due to the high failure rate and B/E rate of the EA it is imperative that B/E is B/E and not another loss. Those losses mount up.
I am NOT trying to find excuses not to trade and resent the accusation especially given the amount of time and effort that I put into trading this EA. I was simply pointing out that if you trade this EA on a commission broker you had better been pretty darn good at finding winning trades because the losses and B/E (more losses) will quickly eat into your account.
My strike rate (1 in 25-30) if the B/E trades were actually B/E trades would make this a viable option, it is not at the moment because the EA is not capable of taking commission charges into account. So hopefully you now know why this EA is un-tradeable for me on a live account…
These trades are all made brokers that use spreads so I don’t know what you mean by un-tradeable. There a 30 DIAD a week. The commission version will only improve the results. The answer is simple use a commission broker and don’t wait. Developing your trading skill is more important to trying to find an excuse not to trade.
Alex these are indeed great results but until the EA is updated to brokers who charge commission it is UN-tradeable because if you don’t hit the target you lose money on the B/E trades and the more legs that you activate the bigger the losses. A simple solution would to be to get the EA to close when profit drops to say $1 or whatever once the second activation occurs. No need for complicated changes to calculate swaps and commission charges.
Other than this issue this is an awesome EA..
Thanks for your question
Yes as you can see they are actual trades taken in a MT4 Broker account – That is why we also show a picture of the detailed transactions showing the top up process and all transactions hitting the target at the same time taken of the trading account. We then transfer the transaction details to the chart using the basic MT4 functionality open on all MT4 platforms.
These are pre-programmed live trades that can be taken by any trader using the DIAD EA. The trick is knowing where to put your future entries. As you can see this is not rocket science if you are good at support and resistance trading as taught in our Great Entries course.
Is this trade actually taken live? Exactly like the picture of the chart?
Or was some software used to replicate the trade after the fact?
Please inform.