This was to be my last post but since I already put some time into this rebuttal on another forum I decided to paste this here.
I want to go on record to defend my self against ZupCON who has his own agenda to try to make my life as miserable as possible. He got his feelings hurt when I asked to have his attacking, flooding posts removed. I make it very clear that I have no issues with any positive or negative postings as long as their constructive and not attacking with ulterior motives.
My program/method/EA will not loose as long as the trader follows instructions. It's been shown on many backtests that it does not loose. It will often times hold a position for an extended length of time but will eventually close out in profit. And no you can't throw a dart at the market and replicate the same results.
I explain this to anyone who does not use a conventional stop loss how this works and what to expect in the long run.
In terms of a trader blowing an account. If the trader has too much risk and/or too much leverage you can blow an account before you gave yourself the opportunity to hold the positions until profit. We did not know at the time before the market crash/correction that all currencies at the same time would be in draw down. We advocated a 20% total risk but we have since made changes that have a positive impact on lessening the probability a perfect storm in the markets would cause a margin call in the future.
1. We have adopted a 10% total risk allocated across 8 to 12 currencies (being careful with GBP/USD & GBP/JPY)
2. We have a new function that exits a positive trade ONLY when the alert TF changes color thereby allowing us to stay in the profitable trade longer which translates into more profit then the earlier method of a pre-determined TP target.
So in summary with some simple changes which include optimum capitalization in ones account and leaving any open positions alone until the counter trends start moving in the desired direction you can replicate what you see in the back test. Use your back tester to see and confirm what I am saying here.
Now for the classic taking ones statements out of context, ZipCON gets an A+ for this. I explained to everyone publically on my thread that I am posting my sons demo account with a custom set file (#4) that was set for a 1 hour high TF down to the 5 minute Tf.
This was experimented during the middle of July through the market correction to see if we could grab 12 pips as a TP target and close. Well Dennis gave me his statements that showed a huge number of winning trades at 12 pips each at somewhere around 80+ trades in a row. No losses. I pointed out that the statements had the earlier 1.set type trades mixed in and I would edit all trades out except for set #4 that was set up for 12 pips.
I made this very clear that I edited the statement to show ONLY SET #4 trades ONLY. I even went on record saying that we were encountering deep draw down during the market correction/crash with set #1 and they were not shown to focus on set #4 ONLY.
This is a great example of why people like to start rumors and totally distort the truth often taken statements OUT OF CONTEXT.
I am responding here only once and to set this straight in the hopes of riding the bad apples and to expose how certain mis guided individuals make a great forum like TSD into a place of wasted posts encouraging name calling and pure nonsense with distractions that hurt the traders that want to learn something.
Don
