Decided to stop trading using the Alpari UK Late Settings
Hi guys,
Back in August I set up an Alpari account to trade with non-default GMT settings. The GMT settings were adjusted so that Megadroid would open trades in a time window 1 hour latter than the default settings. (see HERE). The plan was to work out which time window was better for Megadroid in the current market conditions.
Well, I’ve collected 3 months of data now, and the results clearly suggest that the 1.30 default gmt settings are better.
The Late Settings result in more trades, but this is offset by a significant increase in stop frequency.
So my plan is to..
1. Stop Trading the Alpari UK Late account at the end of November
2. No longer include the Alpari UK Late results in the monthly summary
I can’t see any point trading the Late settings, because the question I was trying to answer has been answered i.e. the Late settings are inferior. Continuing to post those trades beyond November won’t add any useful information IMO.
So from December onwards all the accounts will be using the Default Settings.
I am with Think Forex and get different results to you. They are 0 offset GMT. On Thursday I ran 1.3 and 1.12 and they both came up with a buy trade that hit the TP so I had a very good night.
The only problem with them is that at 10:00pm GMT their spreads go berserk for about 5 mins to stop MD trading, then it settles down to normal. Many other brokers do the same and its just a matter of re-initialising MD when things settle down. I watch the trades and if the prices start going against the trade and monitoring with several indicators if they confirm also I cash in the trade while still in profit.
It seems to work well as I am about 30% up for November. PS I also use FishForex so most nights I have a trade.
Hi John,
Sounds promising. There’s no reason why a semi-automated setup like the one you have can’t work. But this will depend on your skill as a trader of course i.e. being consistent, and getting the risk/reward right, and maintaining that consistency over several months. Sounds like you’re on the right path though.
In this blog I’m posting 100% automated results. I trade every day, and never intervene with trades.
Re-initializing Megadroid?
I wasn’t aware that this was needed. I have noticed that spreads go crazy around 5PM EST on my MB Trading account – think that’s rollover time.