Enter the Dragon

Filed Under (EA System) by Casey on 30-06-2009

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DragonPipsYes… that is what I did with my FXOpen broker account. I went into the Dojo and tired to whip some pips ar$e with the Dragon. But… unfortunately, the outcome was not as exciting as the movie by Bruce Lee…

Well, two weeks ago, I stumble upon this statement on the forum. http://save2009.mt4live.com/ I was pretty impress by how he manage to turn his misfortune firstly via Enterra and then midway… changed it to DragonPips…

This guy confirmed that he was using his FXOpen account. So what else… like a monkey, I followed… :) And yes… I used it live. How can’t I not put this live? My FXOpen is a micro account. All I am earning are cents, surely the time spent on demo testing it on this broker would not justify the cents I could or could not be earning….

Ok… ok… for the sake of this blog. of my live account..  The least I could do is to backtest it. So now I shall produce my backtesting results… :)

(Click the Image to view statement)

DragonPipsEURUSD

DragonPipsGBPUSD

DragonPipsEURGBP

DragonPipsEURCHF

Interesting huh?? Like Bruce Lee… I whack first and ask questions later. Unfortunately like a monkey… my account hurt a little… :)

Anyway, the initial DragonPips only traded EURUSD and GBPUSD… but looking at they guys statement it was also trading EURGBP and EURCHF…. So what the hell…. Both these pair also went into my live account.

Now rumor has it has it that DragonPips is a makeover of Thunder and Lucky… Don’t know how or what… but that is what the forum are saying… Thunder and Lucky only trades EURGBP, and probably EURCHF if one were to explore further.

When DragonPips came out, it traded EURUSD and GBPUSD, probably it has optimized from Thunder and Lucky for those currency pair. I don’t know… I am just echoing what the forums are saying.

Well… if you look at the backtesting results apparently EURGBP and EURCHF takes more trades than GBPUSD and EURUSD. You can also verify this on the live statement of star2009 above.

Anyhoo…. the results from where not only from the live statement by star2009 but also the backtesting results from since 2009 has gravitated me to snub my nose, and go ‘Wooooooaaaaa……’ and try to float like a butterfly and sting like a bee…

But my Bruce Lee’s flying kick only started on the 15 June and only solely trading this EA after the 22 June. So half of the losses are not mine. Again… as I manually calculate the damage done, DragonPip took about ??? so it was obvious, I did not set my settings up right.

Apparently DragonPips came out with a newer version… I got hold of the newer version and renamed it DragonPipV2. This time I backtested it using the settings that I will be planning to use on my LIVE account.

And here is the outcome of my backtesting result…

DragonPipsEURUSD

DragonPipsGBPUSD

DragonPipsEURGBP

DragonPipsEURCHF

Now here I want to point out something very interesting…. I set the Max order to 1 and the time setting to only trade 2 hours from 0:00 to 2:00 (Kinda applied what I learn from Barometer about optimization… ) and the profit factor kind of improved for GBPUSD and EURGBP, EURCHF marginally decrease. However, EURUSD was the worst, I had to retest it on different settings but no matter how I backtested it EURUSD continue to sucked big time with the MaxLot set at 1.

Version 1: Profit factor in this order EURUSD, GBPUSD, EURGBP, EURCHF as per backtesting result above
(1.71, 2.00, 4.89, 2.19)

Version 2: Profit factor in this order EURUSD, GBPUSD, EURGBP, EURCHF as per backtesting result above
(0.90, 2.08, 5.56,2.10)

So there you have it… I had to be a monkey to realize this error. Good thing I should say…. So now… the monkey can try to be Bruce Lee again and see how this Dragon kick butt on my LIVE account cum July….

I am only going to use DragonPip on only GBPUSD, EURGBP and EURCHF….

Woooooaaaaaaaaaaaaaaaa!!!!!!!!!!!!!!!!!!!!!!!!!

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