Woot! good to see more traders of Pallada 2009. I’ve still been trading it, but did took a month off from trading in May, so just started again. From my experience, it’s performing ok, but only if you can take most trades, so in a way, you still need to be by your computer or something that would allow you to enter your trades when it confirms, otherwise, in the long run, kinda hard to stay in profit. How they did it is, if opposite signal confirms before reaching TP, they close the old trade manually and then open up a new trade from that opposite signal, however, if you’re not by your computer, then that’s it, SL will be hit most likely and can’t enter that trade the opposite way that most often will make up the loses and hits their TP targets, I’ve seen this way too many times.
Basically, yes, they said you don’t need to be in front of your computer the entire time as it will sound off the alarm to warn you that a trade has been confirmed, however, if you’re not there, then you can’t trade that signal alarm anyways as you never know when a signal might confirm throughout the day. So in a sense, while you don’t need to be in FRONT of the computer, you DO need to be NEAR your computer the entire day to get the best results.
Due to my schedule change, I can only trade during NY session instead of London, however, since most trades happen during London and most movements also happens there, NY session has much less trades and less movement. Also, according to one of their rules, if a trade has already hit TP earlier during the same session, and I’ve asked them what they considered as a session, it’s the entire day since the change of the TP target lines, which happens an hour before London open, then you can only enter a single lot trade, not 3, even if it’s a first signal confirmation, so… again, NY session’s profit will be much less than if say trading during London. London however, does confirm 1st signal trades more often, but that also means your risk/reward ratio is of course, much greater than NY Session as you’ll be entering more 3 lot trades, more risk as if the first TP doesn’t reach, as then you’ll be looking at a triple lost. As for Asian session, I avoid it, since many signals that happens there ended up being false. While some does end up good or even great, I won’t risk it, too many false signals.
This week is only my first week trading the NY Session, and overall I’m in profit this week, even though not by much as I did have one lost with a single lot trade, London however, would have made a good amount of pips this week.
Also a little info, I did lose quite a bit during April while only trading during London, -300+ pips, so… like everything else, it goes both ways, you win some, you lose some. If most trades were taken however for April in both London AND NY, then you’ll be looking at profit, as most profit trades that happened in April were during NY session, most big major 3 lot trade loses came during London that month.
I’m still trying to decide if I should stick with my 60 pip SL, or use what they suggested, 80 pips SL, but with 80 pips, you’re talking about -240 pips if your first signal entree trade loses since it’ll be a 3 lot trade, not a single lot, that vs. -180 pips for using 60 pips SL.
I do have quite a bit of experience trading this since I’ve been doing so from the first week of February, so when they released it. I’ve also gone live since April after 2 great trading months of February and March while trading only during London session, however, I wish this is a fully automated EA, it’s really the only way to up your chances of being in profit each month.
We’ll see how it performs this month for me for NY Session on my live account.