Do forex robots actually work? I am often asked this question. There
is a common misconception when trading with a forex robot. Most people
think they can just take a couple hundred dollars, buy a robot that
"looks" good and wake up the next morning a millionaire! Actually
nothing can be further than the truth. We must remember that a forex
robot is designed to automate your trading style and risk appetite.
There
is a strong learning curve when autotrading your account with EA's. It
is important to understand that just because a robot has been trading
good for the last few weeks, does not mean it will continue to do so.
Many vendors of forex robots will not stand by their products to release
updates based on changing market conditions. They are literally just
trying to take your money and run! Do your homework on which expert
advisor companies stand by their product and use them on their OWN
trading account.
One of the primary reasons I created
this blog is to inform my readers about the truly genuine vendors that
do exist, so we can all feel more confident trading in forex. If you use
the drop down menu on the right labeled "blog archive" you will find
many posts designed to help you make informed decisions. You will
quickly understand what it takes to succeed in this "business". So I ask
you to stick around and let's profit together! ; )
Jumat, 13 Juni 2014
Forex Diamond EA | Update On Robot Performance Feb. 2014
The Forex Diamond EA has been a robot with excellent performance
since its inception. I have been sent all the details from its creator.
Below you will find the facts and figures including links to the
accounts.
Since the launch date, Forex Diamond EA paid itself 5 times and made
an amazing profit of $1600 (over 1200 PIPS)
Forex Diamond EA promises to be the next hit among forex traders.
What are the advantages of Forex Diamond EA compared to other robots
on the market:
- Supports 4 (Four) currency pairs: EURUSD, GBPUSD, USDCHF and USDJPY.
- 3 (Three) Completely Independent Trading Systems In One EA
- Dynamic Trading Logic
- Self-Updating Algorithm
- High Trading Frequency
- Amazing 40+ Recovery Factor
- Reasonable Dynamically Calculated Stop Loss and Take Profit Levels
- Less Need To Be Optimized Then Other Robots
- High Slippage, High Spread and Profit Protection System
- HAS A REAL-MONEY LIVE PROOF!
Since the launch date, Forex Diamond EA paid itself 5 times and made
an amazing profit of $1600 (over 1200 PIPS)
Forex Diamond EA promises to be the next hit among forex traders.
What are the advantages of Forex Diamond EA compared to other robots
on the market:
- Supports 4 (Four) currency pairs: EURUSD, GBPUSD, USDCHF and USDJPY.
- 3 (Three) Completely Independent Trading Systems In One EA
- Dynamic Trading Logic
- Self-Updating Algorithm
- High Trading Frequency
- Amazing 40+ Recovery Factor
- Reasonable Dynamically Calculated Stop Loss and Take Profit Levels
- Less Need To Be Optimized Then Other Robots
- High Slippage, High Spread and Profit Protection System
- HAS A REAL-MONEY LIVE PROOF!
As you can see the performance speaks for itself. Give it a try; I believe you won't be disappointed.
Remora EA | New EA Due To Release Jan 2014!
Hi
everyone!, this new EA is due to come out around January 2014. I am
writing about this one prior to its releases because I believe it looks
promising
"Follow the big fish"
This is the slogan for this EA, and it describes the strategy as a trend following EA. It appears to operate on the EURUSD 15 min. time frame. It opens a position when the market establishes a true direction.
It has 2 sub-strategy:
- Main strategy has a 15 pips hard TP with 45 pips hard SL, equipped with dynamic SL if the market doesn't go in the appropriate direction. This strategy contains the 90% of the trades.
- Small strategy needs a smoother market movement and has 6 pips hard TP with 22 pips hard SL. This strategy contains the 10% of the trades.
What about a backtest?
Time: 2003.05.05 - 2013.10.01
Fix spread: 1 pip
Starting Balance: 10,000
Finish Balance: 2,633,039.06
Maximal Drawdown: 26.58%
Profit factor: 1.63
Total trades: 1645
Longs won: 76.09%
Shorts won: 77.98%
See more here
"Follow the big fish"
This is the slogan for this EA, and it describes the strategy as a trend following EA. It appears to operate on the EURUSD 15 min. time frame. It opens a position when the market establishes a true direction.
It has 2 sub-strategy:
- Main strategy has a 15 pips hard TP with 45 pips hard SL, equipped with dynamic SL if the market doesn't go in the appropriate direction. This strategy contains the 90% of the trades.
- Small strategy needs a smoother market movement and has 6 pips hard TP with 22 pips hard SL. This strategy contains the 10% of the trades.
Lot size is based on equity AND market movement. This tells me that the risk will vary based on price action.
What about a LIVE forward account?
Yup we can follow this account below;
What about a backtest?
Time: 2003.05.05 - 2013.10.01
Fix spread: 1 pip
Starting Balance: 10,000
Finish Balance: 2,633,039.06
Maximal Drawdown: 26.58%
Profit factor: 1.63
Total trades: 1645
Longs won: 76.09%
Shorts won: 77.98%
The
backtest is a tick data backtest as well. Let's see how the above LIVE
account pans out over the next few weeks to determine its worth. Face
value tells me this one has a lot of potential. At time of writing it is
unclear what the cost will be. Also I cannot determine how many
accounts we can trade with this.
Maverick EA | Over 6 Years No Loss?
Hey guys. This EA is being advertised as one that does not lose, so I
guess we can label this as the holy grail! Let's see if we can
determine if this is indeed the case.
Firstly
I notice it trades on the Eur/Usd with the 1 min. chart. Hmm I think I
may already know an EA that trades like this one. The million dollar pips EA
comes to mind. Some would say this is a great EA if you have the
perfect broker conditions. When you are trading on the lowest possible
time frame on MT4 we can witness very different results in price feeds
between brokers. Not to mention slippage and execution quality also.
This time frame selection is a red flag for me.
So what type of trading EA is this?
The website makes it very clear that this is a "semi-martingale" trading system. Also we are told the chances of getting stopped out are about 1:1000. The Maverick EA is based on ATR and "blowing your account" is simply not possible. The martingale progression is as follows; 1, 2, 2, 4, 8 with up to 3 positions being utilized 95% of the time. There is a "video" illustrating how the Maverick EA was constructed. This "video" can be seen here
Backtests are of the tick data variety so this is good, and they can be viewed here.
Firstly
I notice it trades on the Eur/Usd with the 1 min. chart. Hmm I think I
may already know an EA that trades like this one. The million dollar pips EA
comes to mind. Some would say this is a great EA if you have the
perfect broker conditions. When you are trading on the lowest possible
time frame on MT4 we can witness very different results in price feeds
between brokers. Not to mention slippage and execution quality also.
This time frame selection is a red flag for me.So what type of trading EA is this?
The website makes it very clear that this is a "semi-martingale" trading system. Also we are told the chances of getting stopped out are about 1:1000. The Maverick EA is based on ATR and "blowing your account" is simply not possible. The martingale progression is as follows; 1, 2, 2, 4, 8 with up to 3 positions being utilized 95% of the time. There is a "video" illustrating how the Maverick EA was constructed. This "video" can be seen here
Backtests are of the tick data variety so this is good, and they can be viewed here.
I
really do WANT to like this EA, but trading on such a low time frame is
just too risky in my eyes. Basically the planets have to align
themselves just so for good performance. Perhaps I am being way too
critical with this, but my experience holds me back some. If anyone is
trading this, please let us know how it is going!
Automated Forex Trading | What's Your Style?
Hi guys, today I want to discuss how to choose a strategy that trades
on autopilot for you. More precisely finding a system that trades like
you would manually. Ask yourself "what kind of trader am I", or "what's
my trading style?"
Many new traders look for a EA that is very popular in hopes to "get rich quick". This is the wrong approach to trading any instrument, especially Forex which carries more risk. We must think "outside the box" just a little bit. Let's not trade a strategy just because everyone is doing it.
So how do we find a strategy that is good for us?
Make a list of what is important to you with the following parameters in mind.
1. Profitability(Win%).
2. Market exposure appetite(how long in the market).
3. Risk Appetite.
4. Trading style(scalper,breakout. etc.).
Once you determine these factors, you can move forward in your search. For me, the most important factors are trade win% and frequency of trades(capturing numerous opportunities). I have found that my risk appetite has improved over the years. Most likely this is due to my understanding of how the market behaves.
You too will become more comfortable trading if you find a strategy that performs well to your style of trading. I believe this to be very important to be a successful trader.
THIS IS A STRATEGY THAT SUITS MY STYLE
Many new traders look for a EA that is very popular in hopes to "get rich quick". This is the wrong approach to trading any instrument, especially Forex which carries more risk. We must think "outside the box" just a little bit. Let's not trade a strategy just because everyone is doing it.
So how do we find a strategy that is good for us?
Make a list of what is important to you with the following parameters in mind.
1. Profitability(Win%).
2. Market exposure appetite(how long in the market).
3. Risk Appetite.
4. Trading style(scalper,breakout. etc.).
Once you determine these factors, you can move forward in your search. For me, the most important factors are trade win% and frequency of trades(capturing numerous opportunities). I have found that my risk appetite has improved over the years. Most likely this is due to my understanding of how the market behaves.
You too will become more comfortable trading if you find a strategy that performs well to your style of trading. I believe this to be very important to be a successful trader.
THIS IS A STRATEGY THAT SUITS MY STYLE
Powerful Scalping Robot | Worth A Look?
Hi Guys, here is a robot that trades on the 5 min TF of the Euro/Usd.
It appears to trade similar to the Joker EA, which is derived from the WSFR. Let's look at a 99% BT performed from 2007 to date.
The selling point (if you will) with this one is, apparently it has an accurate entry signal and trades at a high frequency rate. This can be good for profits but can lead to higher DD as well in my experience. The screen shot of the trading chart even looks like the Joker EA.
There is a forward test the vendor has running, but it is only a demo account and many trade details are hidden. I don't know if this is intentional or not.
The selling point (if you will) with this one is, apparently it has an accurate entry signal and trades at a high frequency rate. This can be good for profits but can lead to higher DD as well in my experience. The screen shot of the trading chart even looks like the Joker EA.
There is a forward test the vendor has running, but it is only a demo account and many trade details are hidden. I don't know if this is intentional or not.
This system may bear watching in the future as it is somewhat based on the WSFR. Let's see what happens in the future with this one.
Discipline When Trading With Expert Advisors
Hi Guys, today I want to talk about the amount of discipline required
to trade any strategy. It does not matter what your style of trading
is, you will require much disciple to continue to trade successfully.
Most novice traders will pick a strategy they like and begin to trade with it expecting to win each and every trade. Next they have a losing month, (which EVERY strategy has) and they begin to look for another strategy(like the holy grail that does not exist). This process continues until one notices that if I stuck with the original strategy I liked, I would be "x" amount in profit by now.
This is one of the greatest hurdles to wrap you head around when beginning to trade a strategy. If you can find a profitable strategy that suits your style of trading and stick to it, you will be well on your way to becoming successful trading.
Most novice traders will pick a strategy they like and begin to trade with it expecting to win each and every trade. Next they have a losing month, (which EVERY strategy has) and they begin to look for another strategy(like the holy grail that does not exist). This process continues until one notices that if I stuck with the original strategy I liked, I would be "x" amount in profit by now.
This is one of the greatest hurdles to wrap you head around when beginning to trade a strategy. If you can find a profitable strategy that suits your style of trading and stick to it, you will be well on your way to becoming successful trading.
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