Home > Forex > Follow-up on scalper performance at JadeFX

Follow-up on scalper performance at JadeFX

September 3rd, 2010

Quick update on the performance on my main scalper account at JadeFX during August. I’ve previously posted about the excellent results during July. August was also good, but I had one day that basically all trades went to stoploss for a negative hit of 551 pips or about 15% of the account (which also corresponded to my risk-appetite right then). It was inevitable to happen of course, and it will happen again. I didn’t change any settings after the “crash” and the losses was made up the coming 10 trading days. Excellent.

jade_august1

Other than the massive losing day (17th of August) I had two more days with negative pips. Overall the account made 742 pips which amounted to 18%. I am very pleased with that, considering that the maximum loss scenario was realized.

Going forward I have changed the setup a little. During July and August I have been experimenting somewhat by running three different setups of the main moneymaker EA here. Now it is clear which setup I will use going forward. It is very stable (if I had only used that one on the 17th the drawdown would have been much smaller).

I have also introduced a new EA from the Funyoo forum on my live account on the 1st of September that I’ve been optimizing with Dukascopy tickdata. I’ve been trading it with great results on demo for the past two weeks, and so far it seems as good on my live account (only had two trading days yet, but the trades are identical with demo trades taken).

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  1. Matt
    September 3rd, 2010 at 11:08 | #1

    Hi - Great to know that your scalpers are still doing well. August for me was a good month too - my Alpari account showed about a 30% increase which was really impressive.

    Out of curiosity - What EA’s are you now using to achieve the above results? Email me at my email address if you don’t want to post the names on here…

  2. September 3rd, 2010 at 11:47 | #2

    Hi Matt.

    I shouldn’t keep it secret of course. No point in doing that. Basically the one that have been making 95% of the trades on the JadeFX account is The Channel Scalper v1.12 (from tradingsystemsforex elite section) with three different setups. All of them trade EURGBP. The first one used a TP of 4 and SL of 49. The second set used a TP of 4 but a SL of 18 and the third one a TP of 3 and SL of 18. It is the third one that have been working far better than the other two. With a TP of 3 it is able to close more trades and get new ones going.

    The newly introduced EA is the RSI MA Scalper trading EURUSD. I have optimized it using tick data which resulted in a trading window of just two hours every night (think it is 1930-2130 GMT, at work now so I can’t check). I use the v1.02 mod by Lordorly still, haven’t tested the lastest version (1.03).

    I’ve also started optimizing v1.13 of the Channel scalper and found some differences. Seems like a TP of 5 and SL of 17 can be good with it. I’ve been running it in demo for a week and the entries are better than with 1.12 (which is why the TP can be increased and SL decreased I guess).

    I’m also trying to find a EA that can trade GBPUSD nicely, and the XBars MA Scalper seems to be the best pick right now. Running some optimizations.

    I’ll do another post about it with some info from the backtests soon.

  3. Matt
    September 8th, 2010 at 17:20 | #3

    Hi SomeGuy,

    I took a look at the Channel Scalper forum. The initial posting of the EA looks amazing - 2007 - 2009 back test that yields 1000’s% profit increase which made me tempted to sign up. But then I found another forum post that offered other back tests of the same EA - and nearly all of them are downward slopes to zero balance. I just wondered how good this forum and the Elite EA’s taht are offered are?

    Are they actually reliable and can the back tests be made to be as profitable as he claims they are? Although $100 isn’t that much for lots of EA’s and a years subscription - if they are all totally useless EA’s that are marginally better than the free ones posted on the MQ4 forums then it’s a waste of a $100.

    I’m especially annoyed today since my boss ea traxon robot took a nose dive on EURGBP. After having an awesome August, and a win rate of 85% trades placed with the losses having small impact, it took one loss on Monday night that wiped out 70% of my account. Added to that my Blessing nano Account is not looking too hot either.

    So.. Any info on whether its a good investment and has valuable EA’s available?

  4. September 9th, 2010 at 08:44 | #4

    Hi.

    I think it is good, but I can’t say that I have compared it with other forums. I basically thought that $99 wasn’t too much and took a chance. There are a lot of worthless EAs there, but then again that reflects reality, all strategies aren’t viable. Others are good after optimizations against good history data. I wouldn’t trust any EA without extended demo trading.
    That said I’ve been running The Channel Scalper since June and it have made me back the $99 quite a few times. Also RSI MA Scalper is nice and hopefully I can get XBars MA Scalper to work nicely also.

    Wow, 70% is catastrophic. Hope it wasn’t a big account.

  5. Matt
    September 9th, 2010 at 17:34 | #5

    Hi - Thanks for the info. No - luckily it wasn’t a big account. Equated to ~£300. I only trade small amounts of money - and only money that I can afford to lose. Still - it makes me annoyed that I let it happen as I could have shut the trade at -£60.

    Oh well… reduce risk, reduce lot size, and keeping at it is what I’m doing.

    $99 is tempting to sign up for it…

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