Hi Guys! Welcome to my video on automated day trading. Today, I want to show you three steps that I use to analyze winning traders and systems. And these are steps that are based on over 15 years of experience that I have in trading, managed accounts, and risk management. The reality is that everybody wants to be a successful trader, but not everybody is gonna get there in a quick period of time. Sometimes it takes years for a successful trader to evolve. If you still want to participate in day trading while you learn, then what I'm gonna show you in this video is gonna help you take advantage of that.It's going to allow you to copy trades of successful traders into your own account. It's like having many successful traders managing your money for you. And I said "many" because this is not about getting one specific strategy or finding the "best" trader in the world to manage your money. That doesn't exist. There's no holy grail. So it makes sense to have a diversified set of strategies or traders managing your account if you're not gonna do it yourself. Keep in mind that in this video I'm going to cover 3 steps, so it's going to be pretty basic. It's just going to give you enough to get you started. Now, if you determine that this is something that you want to use for your own account, and you want to take this to the next level and apply it to your own account and copy the trades, then I'm going to give you an advanced hands-on guide that's going to show you how to do it.
Let me start by a basic example to help you see what this is all about. Alright so let's get down to it. We're going to go ahead and analyze a system with real results to determine if it makes sense or not to follow this particular trader. And I'm going to use my own criteria to determine if it makes sense or not. Mind you that this is going to be a basic analysis. I'm gonna do a more advanced analysis on the next video, which you can actually watch and you'll get once you decide to open your account and set it up. You'll get a video that's going to show you in depth what to look at. But for now, I'm just going to give you the basics. First of all, let's just look at the results of this system and here we have how much this system has returned, 143% since it started.
You have the monthly return, 14.2%. The drawdown, 26.61%. and a lot of other information and details. It gives you the summary for today, for the week, for the month. Today is February 17th, 2015, so, so far this year, the system is up 24.26% on live accounts. It has 896 transactions and average win/average loss. As you can see, there's a vast amount of information here and we're going to get to this in the advanced video, but for now, I'll just give you the basics. What are the things I look for? What are the basic things I look for, the 3 things I look for to determine if this is a winning system or a system that you'll want to set up in your account to copy the trades or to follow based on the statistics and the risk that the system has generated since it started.
The first thing I look for is a yearly return over risk of 4 or more. That means that I want to make sure that this trader has produced at least four times the risk he has taken historically. So very easy...14.24% a month is around 160% a year and by risk I mean maximum drawdown. Maximum drawdown is 26.6%. If you divide 160% for the year by 26, you get around 6. That means that this system has generated six times the risk in return; so that passes. That's greater than 4, so so far, so good. The second thing I look for is the number of transactions the system has generated since inception, since it started, and this system has generated 896 transactions. And that looks like a lot and it is because the number I look for is 250. I wanna make sure that this strategy has at least 250 transactions, because, if it's very little transactions, the results can just be a result of luck instead of skill...and we don't want that. And the 3rd thing I look for...important...is the average win over average loss.
I wanna make sure that the average win is greater than the average loss. And in this case you'll see that 241 pips is greater than 135, so that meets that criteria. And we can get really in depth here, but if we just scroll down to the trading activity, we see that there's a lot of other information...the open transactions, those are actual trades that are opened right now. Open orders and the history, which gives you an idea of what are the instruments that this guy, this trader trades. And we see US Dollar vs Canadian Dollar, Australian vs New Zealand Dollar, Euro-Aussie, Euro-Pound and so on and so forth. So you see guys the analysis to come up with a winning system or a winning trader is a pretty advanced one. It can get pretty detailed and involved. In this video, I just wanted to touch upon the 3 basic things that I look at, which in order, are: Number 1: The yearly return over the maximum risk is 4 or more.
Number 2: I wanna have a system or a trader with at least 250 transactions since inception, or since the beginning to avoid running into luck. Number 3: The final thing is that I want the average win to be bigger than the average loss. I hope you liked this video. If you decide that the copy trade service is something that you want to take advantage and activate in your own account, I have designed a guide and a more advanced video to help you. And once you make that decision and open your live account, I will send you the guide and the video to help you select the best systems and traders. If you liked this video and found it useful, please share it with your friends. Also, I recommend that you subscribe to my day trading channel to stay up to date with any new information on day trading or any cool tools that you might be able to access in the future. Until next time, this is Dan Alvarez. Happy Trading! .
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