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  • Dilong

    1# place in Simpletrader market since weeks (months?) and I didn't find any dedicated thread...is someone following it?

    These are the general information found on Simpletrader:

    Strategy focuses on scalping trading on USDJPY only. Strategy runs on an algorithm with manual monitoring. Strategy is back & forward tested with excellent return/risk ratio.

    Comments By Trader:
    1. Strategy is low risk with low returns per month.
    2. Trades frequently on USDJPY pair.
    3. Strategy is based on spotting inefficiencies in USDJPY market.
    4. Avoids trading on news.
    5. Prefer broker with tighter and faster execution.
    6. Occasionally, strategy hits max full cycle of 10 trades concurrently during trend market. No hard stop in place.
    7. Strategy is high risk in several cases of the year.

    Trading with www.c7traders.com at the moment.

    https://www.simpletrader.net/signal/6859/Dilong.html


    It would be nice to be in touch with the Trader ( I didn't find it in c7traders site) or with someone who is following it to know something more about it. 5.5% DD is quite impressive. It seems a low risk smart "grid" trading style on USDJPY.

    cheers
    bull_2nd

  • #2
    Originally posted by bull_2nd View Post
    It would be nice to be in touch with the Trader ( I didn't find it in c7traders site) or with someone who is following it to know something more about it.
    You can contact the trader via the "Contact Provider" tab.

    Comment


    • #3
      This is what I wrote about this signal in another thread a couple of weeks ago. I am still following the signal with good results.

      I am following Dilong with a very small portion of my money. (All the systems are pretty much the same, only on different pairs)

      Its important for everyone following any of his signals to understand his strategy, because it is in my opinion very high risk.

      He starts of with a couple of small trades with the same size in a grid like manner. Often against the trend trying to pick tops or bottoms.

      But if it goes agains him he starts to open trades that are many times larger that the first ones. Looks like some kind of martingale.

      One of the last baskets in Dilong had the following lot sizes: 0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.45 0.63.

      As I said, risky. However, following this with reduced risk and being prepared to cut the trades manually it might still be profitable.

      Comment


      • #4
        Originally posted by PontusLSE View Post
        This is what I wrote about this signal in another thread a couple of weeks ago. I am still following the signal with good results.

        Thank you for your sharing. It seems quite risky even if the MaxDD is very low. The basket you wrote (0.06 0.06 0.06 0.06 0.06 0.06 0.06 0.45 0.63) is very dangerous if the pair would continue his movement in the same direction..I usually don't like this kind of grid/martingale. I will continue to check this signal , any other follower is welcome to share his experience.

        Comment


        • #5
          And if you look at bullet number 6

          "6. Occasionally, strategy hits max full cycle of 10 trades concurrently during trend market. No hard stop in place. "
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          • #6
            Originally posted by RedRhino View Post
            And if you look at bullet number 6

            "6. Occasionally, strategy hits max full cycle of 10 trades concurrently during trend market. No hard stop in place. "
            Not ideal maybe, but the copier has the option to close your positions for you at a certain DD level (see 'Max % Drawdown' option in 'Account Protective Settings')

            Comment


            • #7
              I'm connected with dilong, there definitely a martingale strategy going on and this ea isn't aware of news. Kept buying shorting eurjpy just prior to news and ones the news hit, it employed martingale strategy,so next sell was 0.31 lots again selling eurjpy

              Two weeks worth of results, it's scalped $28 but current draw down is $340

              Comment


              • #8
                Been with dilong for 2months, and the martingale thing seems to happen after 6 losing trades.

                Up to now it's worked, but as phynicle says, the open draw down gets huge when this happens - and for whatever reason, its not being clearly shown in the simple trader stats.

                Maybe the st stats only update when a trade closes ? Not useful when you have a lot of losing trades in a basket.

                I would prefer to include the open losing trades in the drawdown myself.

                Sent from my KFFOWI using Tapatalk

                Comment


                • #9
                  Thank you for your sharing , guys. It seems that Drawdown is not shown correctly on myfx also.. 1.66% DD!!

                  It's already on 1# rank position of the Market Place, an investigation from Simpletrader team would be necessary.

                  Comment


                  • #10
                    If dilong is in anyway connected to USD/CAD Scalper, then it's something to be aware of.

                    https://www.simpletrader.net/signal/...D-Scalper.html

                    It recently got into a 30% floating drawdown, at which I bailed (I was following at 3x, so margin calls on my account were happening)

                    Simpletrader still showed max drawdown at a couple of percent. I followed it for a few weeks afterwards, and it got down to 80% floating drawdown.

                    Comment


                    • #11
                      Originally posted by gpfwestie View Post
                      If dilong is in anyway connected to USD/CAD Scalper, then it's something to be aware of.

                      https://www.simpletrader.net/signal/...D-Scalper.html

                      It recently got into a 30% floating drawdown, at which I bailed (I was following at 3x, so margin calls on my account were happening)

                      Simpletrader still showed max drawdown at a couple of percent. I followed it for a few weeks afterwards, and it got down to 80% floating drawdown.
                      They seem to be just grid strategies like what we have seen come through here except they don't show the real drawdown for some reason and stay at the top spots in the market place. Making it look like they are the best when really they could be the worst. Would be nice if simpletrader team can take a look at this. Why is this USDCAD Scalper still showing max historic DD at 9.36% when he blew the account? I wonder how they managed to manipulate the stats.

                      Comment


                      • #12
                        Thanks for the heads up, I know they're part of the same group with c7 traders, I thought they were really strict on the amount of draw down limited to 20% obviously they broke their own rules

                        Comment


                        • #13
                          Originally posted by gpfwestie View Post
                          If dilong is in anyway connected to USD/CAD Scalper, then it's something to be aware of.

                          https://www.simpletrader.net/signal/...D-Scalper.html

                          It recently got into a 30% floating drawdown, at which I bailed (I was following at 3x, so margin calls on my account were happening)

                          Simpletrader still showed max drawdown at a couple of percent. I followed it for a few weeks afterwards, and it got down to 80% floating drawdown.
                          so it hit 10% as per master account right?
                          http://www.myfxbook.com/members/SPLANDFX/pamm-system-1-first-class/2020313
                          http://www.myfxbook.com/members/SPLANDFX/pamm-system-2-direct-system/2020333


                          email me at splandfx@gmail.com to sign up for PAMM

                          Comment


                          • #14
                            Originally posted by phynicle View Post
                            Thanks for the heads up, I know they're part of the same group with c7 traders, I thought they were really strict on the amount of draw down limited to 20% obviously they broke their own rules
                            Hi, I looked into this and something is fishy. If you have any feedback about broker please post it here: https://www.forexsignals.com/forum/f...6256-c7traders

                            Comment


                            • #15
                              Originally posted by Spland FX View Post

                              so it hit 10% as per master account right?
                              No the master account was at 30% when I bailed, I lost 90%. It was still showing the drawdown on simpletrader as a couple of percent. At it's worst a couple of days ago the master account had 80% floating drawdown, and simpletrader still reported 1 or 2 %.

                              It seemed like the drawdown didn't get updated on SimpleTrader until a trade was made - and it was not making trades as it had all 10 positions open buying USDCAD, which continued to go down for a couple of weeks afterwards.

                              I talked with the support team on SimpleTrader at the 80% DD master account stage and they said they would pass it onto the technical team.

                              I hope so, as this was rather an expensive lesson to me.


                              Comment

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