Dear Traders,
even in this latest update, Turtle EUR confirms to be always an excellent trading strategy.
We have “451 Live Followers” with “Total Following Live balance” of over $1,679,341 in the Autotrade system of Myfxbook.
Turtle EUR finishing in 3 place out of 40 positions in the ranking.
Turtle EUR is also on SignalStart with “18 Active Subscribers” and a “Total Following Live Balance” of over $177,742.
We finishing in 90 place out of 564 positions in the ranking.
Turtle EUR finishing in 160 place out of 3439 positions in the ranking of PAMM accounts of Alpari.
On Alpari, “Turtle EUR” collect 20 investment account with a total capital of 8,065 euros.
Happy Trading…
Hello Andrea Lanza
I am considering investing in turtle EUR at myfxbook. I would appreciate if you could answer some questions please:
1) What happened on June 13 2017, when the system experienced a considerable drawdown. Is this an usual behavior that will experience from time to time?
2) In you profile it says: maximum reduction 32.78%; and at Risk option it says 20.87% (maximum balance reduction)
3) Are you always monitoring the open trades? I ask this because you don´t use a Stop loss.What are the risk of blowing the account considering that an important news event could move the price very quickly.
Thanks!
Hello Andres,
1) On 13 June 2017, the open trade reached a maximum loss of -87.5 pips equal to 2.73% of the capital (myfxbook statistics), then recovered and closed in profit. This has happened and could happen again, but lately, I am very careful in trying to optimize the strategy with continuous backtest.
2) This drawdown took place on December 5, 2016 with the EURGBP pair.
The strategy was still under construction and now this pair is no longer used.
Actually I use only EURUSD and GBPUSD that are more stable.
3) I keep track of open trade through smartphone and office pc.
I want to open one trade at a time and the strategy is optimized to avoid the most impacting news.
Keep in mind, however, that no strategy is immune to risks, not even my own.
I do my best to try to make it as secure as possible and until now, after about a year and a half of live trading, it is working fine.
Best regards
Andrea Lanza
Hello Andrea.
Thanks for your answer. They were very helpful. I can clearly see that this 2 couple of months it has been more stable. You are doing a great job.
About the drawdown, it says 6.63% at myfxbook, but n you profile it says: maximum reduction 32.78%; and at Risk option it says 20.87% (maximum balance reduction). Can you please explain this differences?
Thanks again.
Hello,
honestly I tried many times to wonder why there were these differences, but I could never understand them.
I will try to ask for explanations by writing to MQL5 and myfxbook.
Sorry
Andrea Lanza
Hello Andrea
Thanks for your answer. Please let me know if you hear back from myfxbook or Mql5.
I think you are doing a good job by keeping the drawdown very low. That is one of the most important aspect for the investors and the potential investors.
Cheers
Andres G.
I got one more question about turtle EUR: In January 2017 you hit one loss and then reopened another trade with 7 times the lot size of the previous trades. Are you still using this “semi martingale” strategies?
When is possible, I prefer not to close the trade in loss.
If market conditions are favorable, I open an additional trade (and only one) in the same direction with a lot increased by 3x – 7x (it depends on how favorable the market is) and, I close the overall trades in profit.
If you go to see the entire trading period, this has happened less than 2% of the total.
I’m very careful, but you know it might happen again.
Regards
Andrea Lanza
Hello
At October 12, after increasing the lot size, the floating drawdown reched around 20% of the account and then it recovered and end up with a big win. What would happen if the trade goes the other way? Do you have an stop loss before closing the floating drawdown? 30% 40% ,50%?
Thanks
The maximum allowed drawdown for the account is set to about 53%.
This option is based on the current drawdown, which is the difference between the current account balance and equity.
I do my best to optimize the strategy and prevent this from happening.
In 9 years of backtest and 17 months of live test this never happened.
Keep in mind, however, that no strategy is immune to risks, not even my own.
if you decide to use my strategy you must be ready to accept the potential risk.
Thank you
Hello!
I am following you on myfxbook too.
1) I guess you do not recommand to set the Lotsize-multiplier to more than 1.0, do you?
2) What happended to the Ludopatico-Account?
Best regards
Hello,
in about 2% of the case in my strategy, a recovery trade may occour with a lot size increase by 3x – 6x the initial trade.
Therefore I do not recommend to set a lotsize-multiplier more than 1.0
Ludopatico EUR was closed because after over a year the profit was irrelevant, the strategy was fluctuating and unprofitable.
That’s why it was closed.
Turtle EUR is a more risky strategy, but if well set up it can give excellent results.
Thanx for your answer!
Turtle EUR is the only reason why I did not stop investing in myfxbook and why I do not have a negative balance overall (nearly all other systems ended up negative).
Thank you for your good work so far!!!
But I ve been setting multiplier to 3.0 since half a year. My aim was to reach a DD risk of max 20%, but reading about your strategy here makes me realize, that in 2% of cases my total loss risk was much higher than I thought. After the actual open trade I’m gonna reduce the multiplier to 1.0.
Happy earnings!
Two more questions:
Whats the criterion for increasing the lotsize? Any Drawdown or Equity Value?
What does it depend on, that you increase the lotsize to x3 or x7?
Kind regards
Hello,
I made backtest every 30 days, the initial date is fixed, the final date shift every month.
When new data added to backtest, the results may change, reflecting the new data acquired.
I set the recovery lot size between 3x to 8x the initial trade.
For example, this month the lotsize will be 6x for EURUSD and 3x for GBPUSD.
With this setup I have the best Recovery Factor (Total Net Profit / Maximal Drawdown) for each pair.
You can find GBPUSD Backtest here: https://www.myfxbook.com/strategies/turtle-eur-gbpusd/136001
Hi Andrea!
Your system looks good. I would like to know if the Turtle EUR on the mql5.com is also yours and can I subscribe to your signal there? Is there a minimum balance requirement before I subscribe?
Thank you!
JP
Hello,
yes I have also Turtle EUR on MQL5 website but you cannot subscribe because MQL5 don’t allow account exceeding 1:500 leverage (my account is 1:1000). Moreover you must have always your metatrader running on your computer. I think this is not the best choice to copy my account. Other methods are:
1) Invest in my PAMM Account on Alpari, in this manner you can put your money at work without the necessity to have always your metatrader running on your computer (you must have an Alpari account to di this).
2) Use the AutoTrade system of myfxbook. You can accomplish this in three simple steps:
Open and fund an account with one of the supported brokers.
Connect the account to Myfxbook in less than 30 seconds.
Choose Turtle EUR system to be copied.
3) Copy my system on signalstart. You simply need to register an account and subscribe to Turtle EUR. You will not have any markups or hidden costs.
On Alpari you pay 26% on your profits on monthly basis (you must have at least 500 Euro in your account, otherwise you pay 50%).
For myfxbook it depends on the account – with some brokers it is completely free while with others there is a small markup spread (this is due to difference in spreads).
If you’re wondering why similar services claim to be free, then that’s because they hide the cost in fine print.
The cost for signalstart is fixed: 40$ on monthly basis.
The minimum investment are 10 Euro, but I recommend at least 500 Euro.
Regards
Andrea Lanza