Steinitz HAS MTF **Theory & EA**

[steinitz]

I am so glad I stopped participating in these forums (only very rarely do I post) because of people that don't have anything better to do but to put down another persons successes.

This reminds me of reading tabloids where the entertainer has no idea how these writers come up with these cockamamie so-called factual statements.

A robot has many different types of stops. Besides the typical stoplosses you would find in your average trading method it uses a more sophisticated stoploss that exits the trade when the current market has changed enough to signal a robot to exit the trade.

I personally have a stoploss it's called closing all my open trades each 30 days. So why do I do that? There's two reasons I do this. I find that not using any type of stoploss produces better returns in the long run.

A typical month for me is having approximately 150 positive wins in a row with approximately 6 or 7 open losing trades. Because my close trades always outweigh my open losses I end up with a positive month.

By closing on my platform and starting over the robot can adjust itself or in other words resynchronize itself to the current market. The robot has a function that automatically configures the settings internally using set 1 and set 2 based on the current market which is determined by the daily timeframe.

Just for anybody's information we now have three very profitable robots to my website will be retooled soon to make available to serious traders three distinctly different robots.

I can be reached at steinitz@Cox.net

Don

[duyduy]

This EA give good return,
more than 100% in a month, but beware of the DD
U can find my last forward test in my blog.

[andy_peters]

This EA will drain your account. Keep well away. Don is a good salesman and a poor trader and thats why he's flogging his stuff rather than using it. Ask him to show you a live account statement rather than a demo one. He can't.
He makes money only from flogging his useless EA's.
Yes, all the trades will be winning ones because all the losing ones are being stacked up as drawdowns and are hardly ever closed out.
Look at his 'affiliate' scheme where he claims to be making $6K a week from flogging his stuff. Probably that's a lie too.

[ahamed]

andy_peters that is not fair at all,tell what contributions have u made ever since u joined in by the way i have been testing his strategy manually and its not bad at all,at least for the first time i opened 39 positions consecutively and havent lost even i trade,i have till end of the month before i post it so that everyone could see,so andy_peters i guess u should put your money where your mouth is!dont you think so?

[zupcon]

Originally Posted by ahamed

andy_peters that is not fair at all,tell what contributions have u made ever since u joined in by the way i have been testing his strategy manually and its not bad at all,at least for the first time i opened 39 positions consecutively and havent lost even i trade,i have till end of the month before i post it so that everyone could see,so andy_peters i guess u should put your money where your mouth is!dont you think so?

The results at the following link tell you everything you need to know about this EA

Participant Steinitz - Automated Trading Championship 2007

It comes as no surprise at all that you'll get large runs of winning trades if you choose not to use a stop, take a bunch of random trades and you'll actually get BETTER results than Don's system, hard to believe but the results prove that this is true

Always worth asking Don to show you a live account , again that should tell you all you need to know.

[ahamed]

ok but wat do i do actually drawdown is really much may lead to a margin call,is there a way out?

Originally Posted by zupcon

The results at the following link tell you everything you need to know about this EA

Participant Steinitz - Automated Trading Championship 2007

It comes as no surprise at all that you'll get large runs of winning trades if you choose not to use a stop, take a bunch of random trades and you'll actually get BETTER results than Don's system, hard to believe but the results prove that this is true

Always worth asking Don to show you a live account , again that should tell you all you need to know.

[zupcon]

Originally Posted by ahamed

ok but wat do i do actually drawdown is really much may lead to a margin call,is there a way out?

If you want to use Don's "strategy" there are only a couple of ways I can think of to avoid a margin call.

You could reduce risk by taking very small trades. The downside of course is reduced profits, to the point that the returns arent really worth bothering with.

Alternatively you could consider some sort of hedge strategy, but it seams to me, if you cant manage one trade correctly, adding in the additional complexity of an hedge probably isnt a good idea.

Electric Savant probably came closest to suggesting a sensible way of managing drawdown with this EA through diversification across a basket of currencies, his posts at TSD in the steintz thread are worth reading.

Unfortunately the simplest way out is not to get involved with poorly designed systems in the first place. A day's worth of watching these indicators on a 1 minute chart should tell anyone they need to know about the weaknesses in this "system". I hate to say it, but anyone who cant design something better than this after a couple of weeks demo trading really isnt cut out for this game.

regards
zu

[steinitz]

FORWARD TRADING
Note:
August 2007 through November 2007 trading results were based upon an earlier version of our software. Major programming changes were made starting December 2007 that dramatically reduced drawdown by more then 50% and increased the number of profitable trades by well over 100%. All Robots sold today are current versions that produce the best results!
TOTAL PIPS WON
+13,349
+1,483 average pips per month
April 2008 Statement
(Total closed pips = +2221 / Total open pips = -993)
March 2008 Statement
(Total closed pips = +3074 / Total open pips = -619)
February 2008 Statement
(Total closed pips = +1207 / Total open pips = -144)
January 2008 Statement
(Total closed pips = +2365 / Total open pips = -528)
December 2007 Statement
(Total closed pips = +2562 / Total open pips = +28)
November 2007 Statement
(Total closed pips = +2417 / Total open pips = -4471)
October 2007 Statement
(Total closed pips = +1478 / Total open pips = +266
September 2007 Statement
(Total closed pips = +2948 pips / Total open pips = +55)

August 2007 Statement
(Total closed pips = +1874 / Total open pips = -391)

[bossxero]

Can you provide us with a read only password to follow the progress of the EA on your account please?

[batha01]

I must admit there are some significant drawdowns not necessarily attributed to Don's robot but simply because it's capabilities are for calm sailing not troubled waters. When the markets are undergoing significant upheavals like at present all EAs are going to fall off the beaten track and rack up big losses coupled with drawdowns that'll make your eyes water.

Therefore it's upto you as a responsible adult to make the evaluation as realistic as possible and STOP using it as a goose that lays a golden egg. You may make some money at certain times but you won't get rich overnight it just doesn't work like that. In that respect you've got to have a longterm mindset in which you have to happily accept the windfall profits but effectively manage your losses and hopefully at the end you'll have made a net profit.

Please stop beating up Don, if you don't like it then move on, maybe it's your expectations that are the problem. As with all things in life you have to work with it in order to receive the best results. Clicking fingers and expecting instant gratification won't get you anywhere, stop and think in fact research and examine the whole setup across the longer period.