UPDATE AS OF 2019
Believe it or not, 2019 is here. We will start this year by an article fully-about our own Millionaire Signal (https://www.mql5.com/en/signals/446507) and improvements we have prepared going forward. FX Sumo team believes that these are instrumental and fundamental changes, which need to be implemented in order to put our product next (or even above) those of the very best offered through MQl5 platform.
Before we present our prepared updates, let's look back and see what has lead for need of these.
Millionaire Signal was started at the start of July, 2018. Since the very first days, it was based on 2 fully-automated grid-type trading strategies. For first 4 months signal's performance was top-notch, showing ~17% growth, while keeping DD ~4%. Because there were not huge trendy moves in the currency markets, our signal managed to fully-exploit these market conditions and outperform most of other comparable strategies. Unfortunately, these ranging conditions quickly changed at the start of November, caused by Brexit-nonsense, new nonsense from belowed Mr. Trumph and his religious fight versus evil Chinese (joke). That lead to erruptive and massive moves in various currency pairs, which caused Millionaire Signal to struggle quite a lot. Despite the signal ending month of November with 4,5% growth, our DD had peaked at 27%, caused by grid-cycle on EURUSD. Our team reacted and shut down the signal for December.
What has changed since November? - well, let's go point-by-point to understand our mindset and the necesity of the steps that we took:
- The risk of the Ea that caused our signal to experience 27% DD has been decreased by half. These 27% DD was expected based on the available backtests, however, the situation was quite scary and made us feel absolutely-uncomfortably.