http://www.fxstreet.com/rates-charts/
currencies-glance/pair.aspx?id=USD/JPY
http://www.forexfactory.com/
showthread.php?t=43221&highlight=Semi+Martingale
FX Engines, Inc.
The world leader in automated forex trading.
For more information and
a 15-day free trial, visit:
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The Forex Report – DATA BRIEF
AUGUST 2004
When to Trade
By Scott Owens with Omer Lizotte
One of the key elements of any trading system is market timing. Many traders fail to account for timing when making trading decisions, and those who do often rely on their instinct of market timing rather than empirical data. The sophisticated investor uses advanced timing techniques to optimize market entry and exit.
ANALYSIS
• Hour: Which hours of the day will produce the best trades?
• Session: Which trading session has the most action?
• Day: What is the range for particular days of the week?
• Month: Do the days of the month differ?
ACTION
• Correlate your engines to optimal trading ranges
• Test your engines according to a specific entry schedule
RELATED MATERIAL
Test-drive FX Engines for free online at www.fxengines.com to see the power of system building, system testing, and system automation.
ABOUT THIS REPORT
The Forex Report is a periodic publication that investigates advanced strategies for superior trading performance in the foreign exchange markets. These reports utilize advanced statistical and econometric modeling techniques to create new insight into the trading strategy of the average trader. This Data Brief, When to Trade, is intended for all audiences, including those new to the forex market.
To learn more about The Forex Report or to register for delivery of all future reports by email, including Case Studies & Data Briefs, please visit www.fxengines.com.
The Forex Report August 2004
ANALYSIS
When to trade? We wanted to be sure ourselves, so we took 4 years of historical tic data from a dealer and ran it through a rigorous econometric analysis. The most basic results of that analysis show the importance of understanding and employing timing in your entry and exit decisions.
WHEN TO TRADE: Hours of the Day
Average range in pips for the four majors, Eastern Time:
HOUR
EUR/USD
GBP/USD
USD/CHF
USD/JPY
12 AM
10
11
15
14
1 AM
13
15
20
15
2 AM
21
25
30
20
3 AM
23
29
34
21
4 AM
20
27
29
20
5 AM
17
25
26
18
6 AM
17
24
26
18
7 AM
18
24
27
19
8 AM
26
31
39
25
9 AM
24
29
36
23
10 AM
30
34
45
26
11 AM
24
29
36
22
12 PM
20
25
31
19
1 PM
16
19
25
15
2 PM
16
18
24
15
3 PM
12
15
19
12
4 PM
9
11
14
10
5 PM
9
9
12
9
6 PM
8
9
12
11
7 PM
10
11
15
15
8 PM
11
11
16
17
9 PM
10
10
14
15
10 PM
10
12
16
13
11 PM
8
9
11
11
© 2004. FX Engines, Inc. Reproduction or modification prohibited. For more information or a free subscription visit www.fxengines.com.
The Forex Report August 2004
WHEN TO TRADE: Trading Session
Average range in pips for the four majors:
Session
EUR/USD
GBP/USD
USD/CHF
USD/JPY
Australia
65
77
99
66
Japan
66
79
100
66
UK - London
80
99
121
74
USA - New York
67
78
101
60
WHEN TO TRADE: Day of the Week
Average range in pips for the four majors:
Day of Week
EUR/USD
GBP/USD
USD/CHF
USD/JPY
Sunday
24
31
36
25
Monday
92
110
141
95
Tuesday
102
128
162
104
Wednesday
101
123
158
106
Thursday
83
98
121
77
Friday
80
96
117
72
WHEN TO TRADE: Day of the Month
Average range in pips for the four majors:
Day
EUR/USD
GBP/USD
USD/CHF
USD/JPY
1
70
83
107
67
2
89
108
128
82
3
91
103
140
73
4
78
78
112
76
5
95
109
136
96
6
96
112
148
90
7
77
93
109
84
8
84
105
119
75
9
81
113
117
86
10
76
87
117
79
11
68
85
126
69
12
76
78
110
66
13
82
97
128
83
14
66
100
107
80
15
80
95
123
81 © 2004. FX Engines, Inc. Reproduction or modification prohibited. For more information or a free subscription visit www.fxengines.com.
The Forex Report August 2004
Day
EUR/USD
GBP/USD
USD/CHF
USD/JPY
16
86
97
121
78
17
88
111
129
86
18
83
103
118
78
19
86
105
133
97
20
85
111
124
87
21
76
108
115
86
22
86
97
129
79
23
87
103
130
84
24
89
105
140
78
25
65
85
107
61
26
77
101
134
81
27
73
90
123
76
28
72
89
110
68
29
80
92
111
80
30
75
91
124
85
31
80
90
125
79
IN-DEPTH STUDIES
More advanced results from this study will be available in later Reports, Case Studies, and Data Briefs. Register at FX Engines for free to receive these future reports.
RELATED MATERIAL
For more information on “When to Trade” see The Forex Report: The Six Forces of Forex, at www.fxengines.com.
© 2004. FX Engines, Inc. Reproduction or modification prohibited. For more information or a free subscription visit www.fxengines.com.
The Forex Report August 2004
ACTION
Create trading systems that are timing-intelligent, test them, and roll them out into live trading. FX Engines’ entry schedule tool gives you fine control over the entry of your trades, and allows you to use sophisticated trailing exits, fixed exits, limit exits, and/or exit signals to manage your exits.
Once you’ve created your engine with timing intelligence, begin historical and live tests. FX Engines will be offering live trading through a leading dealer shortly, so get started testing today with our Free Trial and be ready for our live trading launch, coming soon.
© 2004. FX Engines, Inc. Reproduction or modification prohibited. For more information or a free subscription visit www.fxengines.com.
The Forex Report August 2004
MORE INFORMATION
For more information about The Forex Report, visit www.fxengines.com or email info@fxengines.com. The Forex Report is available for distribution on third party websites as a co-branded offering. Contact us for more information.
THE FOREX REPORT
Analyzing statistical, econometric, and behavioral trends in the foreign exchange markets for insight into the optimal use of the FX Engines automated trading platform.
The information contained in this report is represented without warranty or any statement of its veracity. The contents of this report are intended to stimulate thinking on issues related to trading forex. This report does not suggest any particular action that could be utilized in live trading for profit or loss.
I can put it no better than Hoffer, who deferred to Montaigne:
“All I say is by way of discourse, and nothing by way of advice. I should not speak so boldly if it were my due to be believed.”
© 2004. FX Engines, Inc. Reproduction or modification prohibited. For more information or a free subscription visit www.fxengines.com.
http://myforexstrategy.blogspot.com/2008/03/ea-fxtradepro-my-2nd-portfolio.html
http://www.forexfactory.com/showthread.php?t=43221&highlight=Semi+Martingale
EA FXTradePro : My 2nd Portfolio
Monday, March 10, 2008
Have you ever read FXTrade Pro's trading strategy at ForexFactory.com? His strategy uses semi martingale lots which is good if you know how to use it. Why we call it semi martingale? Because calculation of the next lots is different from original martingale. In original version, we are doubling the next lots from the previous one. But in FXTrade Pro's strategy, we are not doing the same thing but are still growing the next lots based at our calculations.
Here is the progression of the next lots :
So, what is the main strategy? His strategy uses TakeProfit = 40 and StopLoss = 10 in every sequence with the progression lots. For example, we buy 0.1 lots Eur/Usd at 1.3500 with TP=40 pips and SL=10 pips. This is first sequence. Then our SL is hit. We open the next sequence which is sell 0.1 lots Eur/Usd at 1.3490 with same TP and SL. If our SL is hit once again, we open the next sequence. For better explanation, you can check the picture below.
This simple strategy is very useful if we can combine with other strategy such as break out eagle. We can use our own progression lots depend on our risk ratio and equity. For this purpose, please find the lots calculator in xls format at the link below.
Hint : Use this strategy at brokers company which give you ability to put thin Stop Loss and high leverage margin. (Remember, not all brokers permit us to put SL for 10 pips)
For this strategy, FXTrade Pro already developed an Expert Advisor but it is not free. That's the reason why he was banned from Forex Factory's Forum. Fortunately for my blog's reader, I develop an EA based at his strategy, too. Actually, I develop this EA based at my friend's request, Mr. Duyduy. You can have it for free but use it at your own risk. Please try this strategy and EA at demo first before attach it at live trading.
Remember, this EA is semi automatic. There are two ways to use it.
1. You can use it as soon as you activate / attach the EA to the chart
2. Or you can input the price which you want the EA to start trading.
Please find this parameter at the EA's properties.
Don't forget to visit my blog in other time because I still have some interesting Expert Advisor for you all. Thanks for reading my words.
Download the calculator to count the progression lots : here
Download the Expert Advisor for free : here
Digg this
Posted by Aryana 10:32 AM
Labels: Expert Advisor, Forex System, Portfolio
11 comments:
At March 16, 2008 9:57 AM abi said...
Hi, bro...
It's interesting to see this strategy, though a long whipsaw or flat ranging market may suffer you for a pain of lose. Anyway I'll try to play with it once my VPS server is ready.
Please explain the setting and pair to trade with this EA.
And speaking of strategy, I have another strategy I've read that might make you interested to convert it into an EA.
1. Learn the basics of forex trading. It’s amazing how many people simply don’t know what they’re doing. In order to compete at the highest level in the trading business and be one of the few truly successful participants you must be well-educated about what you are doing. This does not mean having a degree from a well-respected university – the market doesn’t care where you were educated.
2. Forex trading is a zero sum game. For every long there is also a short. If 80% of the traders are on the long side ,then the remaining 20% are on the short side. This means further that the shorts must be well capitalized and are considered to be strong hands. The 80%, who are holding much smaller positions per trader, are considered to be weaker hands who will be forced to liquidate those longs on any sudden turn in prices.
3. Nobody is bigger than the market.
4. The challenge is not to be the market, but to read the market. Riding the wave is much more rewarding than being hit by it.
5. Trade with the trends, rather than trying to pick tops and bottoms.
6. Trying to pick tops and bottoms is another common fx trading mistake. If you’re going to trade tops and bottoms, at least wait until the price action actually confirms that a top or a bottom has been formed before you take a position in the market. Trying to pin-point tops and bottoms in the foreign exchange market is very risky, but exercising a little patience and waiting for a proven top or bottom to form can increase your odds of profiting and somewhat reduce your risk.
7. There are at least three types of markets: up trending, range bound, and down. Have different trading strategies for each.
8. Standing aside is a position.
9. In uptrends, buy the dips ;in downtrends, sell bounces.
10. In a Bull market, never sell a dull market, in Bear market, never buy a dull market.
11. Up market and down market patterns are ALWAYS present, merely one is more dominant. In an up market, for example, it is very easy to take sell signal after sell signal, only to be stopped out time and again. Select trades with the trend.
12. A buy signal that fails is a sell signal. A sell signal that fails is a buy signal.
13. Let profits run, cut losses short.
14. Let your profits run, but don’t let greed get in the way. Once you’ve already made a nice profit on a trade, consider taking either some or all of the money off the table and move on to the next trade. It’s natural to hope that one trade will end up as your “winning lottery ticket” and make you rich, but that is simply not realistic. Don’t hold the position too long and end up giving all your well-deserved profits back to the market.
15. Use protective stops to limit losses.
16. Use appropriate stop-loss orders at all times to cut your losses and never, ever sit back and let your losses run. Almost every trader at some point makes the mistake of letting his or her losses run in hopes that the market will eventually turn around in his or her favor but, more often than not, it simply leads to an even greater loss. You win some, you lose some. Simply learn to cut your losses, take your occasional lumps and move on to the next trade. And if you made a mistake, learn from it and don’t do it again. To avoid letting your losses run, get into the habit of determining an acceptable profit target as well as an acceptable risk tolerance level for each and every forex trade before entering the market. Then simply place a stop-loss order at the appropriate price - but not so tight (close to the market) that the stop could quickly take you out of the position before the market has a chance to move in your favor. Using a stop is always the smart move.
17. Avoid placing protective stops at obvious round numbers. Protective stops on long positions should be placed below round numbers (10, 20, 25, 50,75, 100) and on short positions ,above such numbers.
18. Placing stop loss is an art. The trader must combine technical factors on the price chart with money management considerations.
19. Analyze your losses. Learn from your losses. They’re expensive lessons; you paid for them. Most traders don’t learn from their mistakes because they don’t like to think about them.
20. Stay out of trouble, your first loss is your smallest loss.
21. Survive! In forex trading, the ones who stay around long enough to be there when those “big moves” come along are often successful.
22. If you are a new trader, be a small trader (mini account) for at least a year, then analyze your good trades and your bad ones. You can really learn more from your bad ones.
23. Don’t trade unless you’re well financed…so that market action, not financial condition, dictates your entry and exit from the market. If you don’t start with enough money, you may not be able to hang in there if the market temporarily turns against you.
24. Be more objective and less emotional.
25. Use money management principles.
26. Money management increases the odds that the trader will survive to reach the long run.
27. Diversify, but don’t overdo it.
28. Employ at least a 3 to 1 reward-to-risk ratio.
29. Calculate the risk/reward ratio before putting a trade on, then guard against
holding it too long.
30. Don’t trade impulsively ; have a plan.
31. Have specific goals and objectives.
32. Five steps to build a trading system: a) Start with a concept b)Turn it into a
set of objective rules. c) Visually check it out on the charts d) Formally test it with a demo e) Evaluate the results.
33. Plan your work and work your plan.
34. Trade with a plan - not with hope, greed, or fear. Plan where you will get in the market, how much you will risk on the trade, and where you will take your
profits.
35. Follow your plan. Once a position is established and stops are selected, do not get out unless the stop is reached or the fundamental reason for taking the position changes.
36. Any successful trading system must take into account three important factors: price forecasting , timing , and money management. Price forecasting indicates which way a market is expected to trend. Timing determines specific entry and exit points. Money management determines how much to commit to the trade.
37. Don’t cherry-pick your system’s set-ups. Trade every signal.
38.Trading systems that work in an up market may not work in a down market.
39. Establish your trading plans before the market opening to eliminate emotional reactions. Decide on entry points, exit points, and objectives. Subject your decisions to only minor changes during the session. Profits are for those who act, not react.Don’t change during the session unless you have a very good reason.
40. Double-check everything.
41. Always think in terms of probabilities. Trading is all about thinking in
probabilities NOT certainties. You can make all the “right” decisions and the trade still goes against you. This does not make it a “wrong” trade, just one of the many trades you will take which, through probability, are on the “loosing” side of your trading plan. Don’t expect not to have negative trades - they are a necessary part of the plan and cannot be avoided.
42. The place to start your market analysis is always by determining the general trend of the market.
43. Trade only with a strategy that you’ve proven to yourself.
44. When pyramiding (adding positions), follow these guidelines. a. Each successive layer should be smaller than before. b. Add only to winning positions. c. Never add to a losing position. One of the few trade management rules that we can state we never break is ‘Never add to a losing trade’. Trades are split into winners and losers, and if a trade is a loser, the chances of it turning right around and becoming a winner are too small to risk more money on. If indeed it is a winner disguised as a loser,
why not wait until it shows it’s true colors (and becomes a d. winner)before you add to it. If you do this you will notice that nearly always the trade ends up hitting your stop loss and does not look back. Sometimes the trade turns around before it hits your stop and becomes a winner and you can count yourself very fortunate. Sometimes the trade hits your stop loss and then turns around and becomes a winner and you can count yourself unlucky. Whatever the result, it is never worth adding to a loser, hoping that it will become a winner. The odds of success are just too low to risk more capital in addition to the initial risk. e. Adjust protective stops to the breakeven point.
45. Risk Control A)Never risk more than 3-4 percent of your capital on any trade B)Predetermine your exit point before you get into a trade c)If you lose a certain predetermined amount of your starting capital, stop trading, analyze what went wrong, and wait until you feel confident before you begin trading
46. Don’t trade scared money. No one ever made any money trading when they had to do it to pay the mortgage at the end of the month. Having a requirement to make X dollars per month or you will be financially in trouble is the best way I know to completely mess up all trading discipline, rules, objectives, and leads quickly to disaster. Trading is about taking a reasonable risk in order to achieve a good reward. The markets and how and when they give up their profits is not under your control. Do not trade if you need the money to pay bills. Do not trade if your business and personal expenses are not covered by another income stream or cash reserve. This will only lead to additional unmanageable stress and be very detrimental to your trading performance.
47. Know why you are in the markets. To relieve boredom? To hit it big? When you can honestly answer this question, you may be on your way to successful forex trading
48. Never meet a margin call; don’t throw good money after bad.
49. Close out losing positions before the winning ones,
50. Except for very short term trading, make decisions away from the market, preferably when the markets are closed.
51. Work from the long term to the short term.
52. Use intraday charts to fine-tune entry and exit.
53. Master interday trading before trying intraday trading.
54. Don’t trade the time frame. Trade the pattern. Reversal patterns, hesitation patterns and breakout patterns appear often. Learn to look for the pattern in any time frame.
55. Try to ignore conventional wisdom; don’t take anything said in the financial media too seriously.
56. Always do your homework and stay current on global events. You never know what’s going to set off a particular currency on any given day.
57. Learn to be comfortable being in the minority. If you are right on the market, most people will disagree with you. (90% losers,10% winners).
58. Technical analysis is a skill that improves with experience and study. Always be a student and keep learning.
59. Beware of all tips and inside information. Wait for the market’s action to tell you if the information you’ve obtained is accurate, then take a position with the developing trend.
60. Buy the rumor, sell the news.
61. K.I.S.S – Keep It Simple Stupid, more complicated isn’t always better.
62. Timing is especially crucial in forex trading.
63. Timing is everything in forex trading. Determining the correct direction of the
market only solves a portion of the trading problem. If the timing of the entry point is off by a day ,or sometimes even minutes ,it can mean the difference between a winner or a loser.
64. A “buy and hold” strategy doesn’t apply in forex trading
65. When you open an account with a broker, don’t just decide on the amount of money, decide on the length of time you should trade. This approach helps you conserve your equity, and helps avoid the Las Vegas approach of “Well, I’ll trade till my stake runs out.” Experience shows that many who have been at it over a long period of time end up making money.
66. Carry a notebook with you, and jot down interesting market information. Write down the market openings, price ranges, your fills, stop orders, and your own personal observations. Re-read your notes from time to time; use them to help analyze your performance.
67. Don’t count profits in your first 20 trades. Keep track of the percentage of wins. Once you know you can pick direction, profits can be increased with multi-plot trading and variations in using your stops. In other words, now is the time to get serious about money management.
68.”Rome was not built in a day,” and no real movement of importance takes place in one day.
69. Do not overtrade.
70. Have two accounts. One real account and the other a demo account. Learning doesn’t stop when trading real dollars begins. Keep the demo account and use it to test alternative trades, alternative stops, etc.
71. Patience is important not only in waiting for the right trades,but also in staying with trades that are working.
72. You are superstitious; don’t trade if something bothers you.
73. Technical analysis is the study of market action through the use of charts,for the purpose of forecasting future price trends.
74. The charts reflect the bullish or bearish psychology of the marketplace.
75. The whole purpose of charting the price action of a market is to identify trends in early stages of their development for the purpose of trading in the direction of those trends
76. The fundamentalist studies the cause of market movement, while the technician studies the effect.
77. Rising commodity prices generally hint at a stronger economy and rising inflationary pressure. Falling commodity prices usually warn that the economy is slowing along with inflation.
78. The longer the period of time that priced trade in a support or resistance area,the more significant that area becomes.
79. There are three decisions confronting the trader –whether- to go long, go short or do nothing. When a market is rising ,the best strategy is preferable. When the market is falling, the second approach would be correct. However ,when the market is moving sideways ,the third choise –to stay out of the market- is usually the wisest.
80. Channel lines have measuring implications. Once a breakout occurs from an existing price channel ,prices usually travel a distance equal to the width of the channel .Therefore, the trader has to simply measure the width of the channel and then project that amount from the point at which either trendline is broken.
81. The larger the Pattern ,the Great the potential. When we use the term “larger” ,we are referring to the the height and the width of the price pattern. The height measures the volatility of the pattern. The width is the amount of time required to build and complete the pattern. The greater the size of the pattern-that is ,the wider the price swings within the pattern (the volatility ) and the longer it takes to build –the more important the pattern becomes and the greater the potential for the ensuing price move.
82. The breaking of important trendlines . The first sign of an impending trend reversal is often the breaking of an important trendline. Remember however ,that the violation of a major trendline does not necessarily signal a trend reversal.The breaking of a major up trendline might signal the beginning of a sideways price pattern ,which later would be intedified as either the reversal or consolidation type.Sometimes the breaking of the major trendline coincides with the completion of the price pattern.
83. The minimum requirement for a triangle is four reversal points. Remember that it always takes two points to draw a trendline.
84. The moving average is a follower , not a leader. It never anticipates;it only
reacts. The moving average follows a market and tells us that a trend has begun, but only after the fact.
85. Shorter term averages are more sensitive to the price action ,whereas longer range averages are less sensitive.In certain types of markets ,it is more advantageous to use a shorter average and ,at other times , a longer and less sensitive average proves more useful.
86. When the closing price moves above the moving average , a buy signal is generated. A sell signal is given when prices move below the moving average.
87. A buying signal on a two-moving average combination occurs when the shorter term of two consecutive averages intersects the longer one upward. A selling signal occurs when the reverse happens, and the longer of two consecutive averages intersects the shorter one downward.
89. Shorter average generates more false signals ,it has the advantage of giving trend signals earlier in the move .The trick is to find the average that is sensitive enough to generate early signals, but insensitive enough to avoid most of the random “noise”.
90. Cutting losses is painful for every trader.The ability to cut one’s losses in time is the sign of a seasoned trader.
91.A channel breakout suggests a target for the currency price equal to the width of the channel.
92. Long term charts provide important information regarding long-terms or cycles. The trader can get a correct perspective regarding the real direction of the market in the long run, the strength or direction of the current trend occurring within that trend, or the possibility of a breakout from the long-term trend.
93. Common Points All Of Reversal Patterms A)The first signal of an impending trend reversal is often the breaking of an important trendline. B)The larger the pattern,the greater the subsequent move C)Topping patterns are usually shorter in duration and more volatile than bottoms. D)Bottoms usually have smaller price ranges and take longer to build
94. The head-and-shoulders formation is confirmed only when the completion of the three rallies and their reversals is followed by a breach of the neckline. The failure of the price to break through the neckline on closing prices basis puts on hold or negates the validity of the formation.
95. The double-top formation is confirmed only when the full completion of the two rallies and their respective reversals is followed by a breach of the neckline (the closing price is outside the neckline ).The failure of the price to break through the neckline puts on hold or negates the validity of the formation.
96. The flag formation is a reliable chart pattern that provides two vital signals: direction and price objective. This formation consists of a brief consolidation period within a solid and steep upward trend or downward trend. The consolidation itself tends to be sloped in the opposite direction from the slope of the original trend, or simply flat.
97. A Breakaway gap provides the direction of the market.
98. The runaway or measurement gap provides the direction of the market. This gap confirms the health and velocity of the trend.
99. The runaway or measurement gap is the only type of gap that provides a price objective. The price objective is the previous length of the trend, measured from the runaway gap, in the same direction as the original trend.
100. The exhaustion gap provides the direction of the market.
101. Near the beginning of important moves, oscillator analysis isn’t that helpful and can be misleading. Toward the end of market moves ,however ,oscillators become extremely valuable.
102. When the oscillator reaches an extreme value in either the upper or lower end of the band, this suggest that the current price move have gone too far too fast and is due for a correction of some type.
103. The oscillator is most useful when its value reaches an extreme reading near the upper or lower end of its boundaries. The market is said to be overbought when it is near the upper extreme and oversold when it is near the lower extreme. This warns that the price trend is overextended and vulnerable.
104. A divergence between the oscillator and the price action when the oscillator is in an extreme position is usually an important warning.
105.-Oscillator-The crossing of the zero line can give important trading signals in the direction of the price trend.
106.Because of the way it is constructed, the momentum line is always a step ahead of the price movement. It leads the advance or decline in prices , then levels off while the current price trend is still in effect. It then begins to move in the opposite direction as prices begin to level off.
107. RSI is plotted on a vertical scale of 0 to 100. Movements above 70 are considered overbought, while an oversold condition would be a move under 30 .Because of shifting that takes place in bull and bear markets, the 80 level usually becomes the overbought level in bull markets and the 20 level the oversold level in bear markets.
108. The first move of RSI into the overbought or oversold region is usually just a warning. The signal to pay close attention to is the second move by the oscillator into the danger zone. If the second move fails to confirm the price move into new highs or new lows, a possible divergence exists. At that point ,some defensive action can be taken to protect existing positions. If the oscillator moves in the opposite direction, breaking a previous high or low, then a divergence or failure swing is confirmed.
109. Stochastics simply measures , on a percentage basis of 0 to 100, where the closing price is in relation to the total price range for a selected time period. A very high reading (over 80) would put the closing price near the top of the range ,while a low reading
(under 20) near the bottom of the range.
110. One way to combine daily and weekly stochastics is to use weekly signals to determine market direction and daily signals for timing(it depends from the type of the trader). It’s also a good idea to combine stochastics with RSI.
111. Most oscillator buy signals work best in uptrends and oscillator sell signals are most profitables in downtrends. The place to start your market analysis is always by determining the general trend of the market. Oscillators can then be used to help time market entry.
112. Give less attention to the oscillators in the early stages of an important move, but pay close attention to its signals as the move reaches maturity.
113.The best way to combine technical indicators is use weekly signals to determine market direction and the daily signals to fine-tune entry and exit points. A daily signal is followed only when it agrees with the weekly signal. (daily-weekly, 4 hour-daily,4 hour-1 hour).
114. The failure of prices to react to bullish news in an overbought area is a clear warning that a turn may be near. The failure of prices in an oversold area to react to bearish news can be taken as a warning that all the bad news has been fully discounted in the current low price. Any bullish news will push prices higher.
115. -Elliot Wave Theory- A complete bull market cycle is made up of eight waves, five up waves followed by three down waves.
116 -Elliot Wave Theory- A trend divides into five waves in the direction of the longer trend.
117-Elliot Wave Theory- Corrections always take place in three waves.
118-Elliot Wave Theory- Waves can be expanded into longer waves and subdivided into shorter waves.
119-Elliot Wave Theory- Sometimes one of the impulse waves extends. The other two should then be equal in time and magnitude.
120-Elliot Wave Theory- The Finobacci sequence is the mathematical basis of the Elliot Wave Theory.
121-Elliot Wave Theory- The number of waves follows the Finobacci sequence.
122-Elliot Wave Theory- Finobacci ratios and retracements are used to determine price objectives. The most common retracements are 62%, 50% and 38%.
123 -Elliot Wave Theory- Bear markets should not fall below the bottom of the previous fourth wave.
124 -Elliot Wave Theory- Wave 4 should not overlap wave 1.
125 .Support and resistance are the most effective chart tools to use for entry and exit points. For purposes of placing stop loss, support and resistance levels are most valuable.
126. One of the commodities most effected by the dollar is the gold market. The prices of gold and the U.S. dollar usually trend in opposite directions.
127. The Yen is sensitive to changes in the price or structure of the raw material markets.
128. The commodity-producing countries (Canada, Australia, N. Zealand ) are more dependent on Japan than the other way around.
129. The Yen is sensitive to the fortunes of the Nikkei index, the Japanese stock market and the real estate market.
130. The majority of the pound transactions take place in London with a volume decreasing significantly in the U.S. market, and slowing down to a trickle in Asia. Therefore, in the New York market, many banks have to stop quoting the pound at noon.
131. Swiss Franc has a very close economic relationship with Germany, and thus to the euro zone.
132. The major markets are London, with 32 percent of the market,New York with 18 percent and Tokyo with 8 percent. Singapore follows with 7 percent, Germany has 5 percent and Switzerland, France and Hong Kong have 4 percent each.
133. Don’t use the markets to feed your need for excitement.
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[{"actual": "0.4%","consensus": "","country": "AU","date": "Oct 21","event": "New Motor Vehicle Sales (MoM)","id": "e4f7a3bd-453a-43bb-a512-3c7f19317422","previous": "-3.5%","time": "00:30","volatility": "!","symbol": "%","symbolposition": "R"},{"actual": "-8.2%","consensus": "","country": "AU","date": "Oct 21","event": "New Motor Vehicle Sales (YoY)","id": "ee1442f0-dd53-42fc-8235-46aa040d6b2f","previous": "-7.2%","time": "00:30","volatility": "!","symbol": "%","symbolposition": "R"},{"actual": "","consensus": "","country": "AU","date": "Oct 21","event": "RBA Meeting's Minutes","id": "c2477079-32e6-4c82-a825-10076740d031","previous": "","time": "00:30","volatility": "!!","symbol": "","symbolposition": "L"},{"actual": "2.7%","consensus": "","country": "NZ","date": "Oct 21","event": "Credit Card Spending","id": "db2708ce-1e2d-4ee3-ae86-12753a27ff7b","previous": "2.7%","time": "02:00","volatility": "!","symbol": "%","symbolposition": "R"},{"actual": {"value":"1.440B", "better": "1"},"consensus": "1.200B","country": "CH","date": "Oct 21","event": "Trade Balance","id": "663f0287-0038-4d51-9d34-41633850ee05","previous": "1.427B","time": "06:15","volatility": "!","symbol": "","symbolposition": "L"},{"actual": {"value":"-39", "better": "1"},"consensus": "-30","country": "UK","date": "Oct 21","event": "CBI Industrial Trends Survey - Orders (MoM)","id": "04942a5e-ce15-4647-9fef-33d41beebdeb","previous": "-26","time": "10:00","volatility": "!","symbol": "","symbolposition": "L"},{"actual": {"value":"", "worst": "1"},"consensus": "2.0%","country": "CA","date": "Oct 21","event": "BoC Interest Rate Decision","id": "5b1a12de-047e-448d-add8-c3c5af6d0d9e","previous": "2.5%","time": "13:00","volatility": "!!!","symbol": "%","symbolposition": "R"},{"actual": "","consensus": "","country": "UK","date": "Oct 21","event": "BoE's Governor King Speech","id": "517e4aa9-721a-44ab-b30c-53da027bad27","previous": "","time": "19:10","volatility": "!!","symbol": "","symbolposition": "L"},{"actual": "","consensus": "","country": "US","date": "Oct 21","event": "ABC/Washington Post Consumer Confidence","id": "d5951fb6-4214-4f9c-b5c5-81bd9c1be884","previous": "-43","time": "21:00","volatility": "!","symbol": "","symbolposition": "L"},{"actual": "","consensus": "","country": "NZ","date": "Oct 21","event": "Visitor Arrivals","id": "55412f9b-69cf-4bba-a9a5-0308b7079f0c","previous": "-0.5%","time": "21:45","volatility": "!","symbol": "%","symbolposition": "R"},{"actual": "","consensus": "","country": "US","date": "Oct 21","event": "Treasury Secretary Paulson speaks","id": "6b31587e-7cf5-40dd-b329-9d4cd2b13092","previous": "","time": "23:30","volatility": "!!","symbol": "","symbolposition": "L"},{"actual": {"value":"", "worst": "1"},"consensus": "-1.7%","country": "JP","date": "Oct 21","event": "All Industry Activity Index (MoM)","id": "2dee0c5f-3c76-4475-bea7-f6867c4a2cbe","previous": "0.8%","time": "23:50","volatility": "!","symbol": "%","symbolposition": "R"}]
Forex Economic Calendar Date (GMT) Country Event Actual Cons. Previous
Oct 21 00:30 AU New Motor Vehicle Sales (MoM) 0.4% -3.5%
Oct 21 00:30 AU New Motor Vehicle Sales (YoY) -8.2% -7.2%
Oct 21 00:30 AU RBA Meeting's Minutes
Oct 21 02:00 NZ Credit Card Spending 2.7% 2.7%
Oct 21 10:00 UK CBI Industrial Trends Survey - Orders (MoM) -39 -30 -26
Oct 21 13:00 CA BoC Interest Rate Decision 2.0% 2.5%
Oct 21 19:10 UK BoE's Governor King Speech
Oct 21 21:00 US ABC/Washington Post Consumer Confidence -43
Oct 21 21:45 NZ Visitor Arrivals -0.5%
Oct 21 23:30 US Treasury Secretary Paulson speaks
Oct 21 23:50 JP All Industry Activity Index (MoM) -1.7% 0.8%
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EUR/USD and GBP/USD EUR/USD and NZD/USD USD/CHF and USD/JPY AUD/USD and GBP/USD AUD/USD and EUR/USD
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Inversely moving pairs are:
•
EUR/USD and USD/CHF GBP/USD and USD/JPY GBP/USD and USD/CHF AUD/USD and USD/CAD AUD/USD and USD/JPY
Forex market is open 24 hours a day. It provides a great opportunity for traders to trade any time of the day or at night. However, although it seems to be not very important at the beginning, the right time to trade is one of the most crucial points to be successful in trading at the forex market. So, when should one consider trading and why?
The best time to trade is when the market is the most active and therefore has the biggest volume of trades. More active currency moves will create a good chance to catch the trade and make some profit. A calm, slow market is literally wasting of time — turn off your computer and don't even bother!
What to trade, when to trade
During the 24 hours period currency pairs in Forex market experience several hours, when the volume of trades is the highest and so is the pip movement.
Below are Forex market sessions and examples of the most active currency pairs:
London/ New York sessions:
EUR/USD USD/CHF GBP/USD
Tokyo/Sydney sessions:
EUR/JPY AUD/USD USD/JPY AUD/JPY
Sydney session:
AUD/USD EUR/USD
During the week the most active Forex trading days are: Tuesday, Wednesday and Thursday. Sundays (opening) and Mondays are days when traders are mostly watching and analyzing the market and predict further price moves. Fridays are traded approximately till noon, after that all actions slow down and almost freeze before the actual market closing at 5 pm EST.
* Volume
Four easy rules to follow regarding Volume:
1. When prices are rising and volume is increasing, prices will continue to rise. The uptrend is being confirmed.
2. When prices are rising but volume is decreasing, the uptrend is losing momentum and may be near the end.
3. When prices are falling and volume is increasing, prices will continue to fall.
4. When prices are falling and volume is decreasing, the downtrend is losing momentum and may be near the end.
http://www.fxstreet.com/rates-charts/currencies-glance/pair.aspx?id=USD/JPY
http://www.forexstrategysecrets.com/blog/learning-to-trade-step-by-step-or-mistake-by-mistake/
I am guessing that we all have clicked and hoped. Then we clicked again and hoped some more. We have entered trades not knowing what we were doing, having no clue, which way the market was going, or even how to determine which way it was headed. These are frustrating times as well as costly times even if we are only trading a demo account. With a demo account we only lose our confidence, with a live account we lose our confidence and our money.
We make mistakes and don’t even know what the mistakes are. We have perfect hind site and can see exactly what would have made us a lot of money. We go through this over and over until we have blown up several demo accounts and we still do not know what we are doing wrong. This is the Mistake-By-Mistake method. This is the hard way to learn to trade. We think most of us can relate to this type of trading.
When we find a trading strategy that fits our way of trading and thinking, it just feels good. This will be different for everyone. We then will start to make progress in our trading knowledge. We see many traders go from 8 to 10 indicators back to 3 or 4 indicators. We found that less is better. It seems to be a cycle of over analyzing with many losses, then going back to more exact signals with less analyzing and more winning trades.
We go from not using stop losses back to using stop losses, from not knowing what money management is to following a solid basic money management system.
Here is a suggested Step-by-Step approach.
1. Learn a trading platform
2. Learn the currency terminology
3. Find a trading system that fits your personality (day trading, swing trading or position trading)
4. Develop a study program
5. Develop a trading plan
6. Keep a trading journal
7. Learn how to use indicators to trade the market not just price movements
8. Practice simulated, demo, visualization, then live trading
9. Learn good money management principles and use them
10. Start out slow on your live account. When you become a good trader the money will come
It is a well known fact that if you take time away from your skill, it takes a bit of concentration and practice to get back on top of your game. Professional athletes have to work hard on their skills to get back to peak levels of performance after the off season. The same thing holds true for Forex traders. It may be different amounts of time and different levels of effort to get back into trading shape but it does take time and effort.
Learning doesn’t stop once trading with real money begins. In fact, it is the exact opposite; the learning curve actually accelerates. I know of many traders that will trade with a live and a demo account in tandem. They place the same trade on each account and find themselves trading the two accounts differently.
When the demo starts to make more money than their live account it is easy for them to see what they are doing different and correct the difference. The wise traders will learn from tandem trading and those traders that should not have started trading live are still wondering what is happening to them.
Other traders say “it is no fun to demo trade” and other traders say “I don’t learn when trading a demo account”. One suggestion is to trade with a mini account and only place micro mini lots i.e. 0.01 lots. This is trading with a penny. If they do lose 100 pips they have only lost one dollar. If this is what it takes, you still need to practice. Remember perfect practice makes perfect results. Another way to practice is to use the Jump Start trading strategy. Using the Jump Start strategy you will get in and out and not expose the trading account to much risk. Use the 5 and 15 minutes time frames, and signals to get in and out of the market. Using the smaller time frames over many currency pairs you will get a lot of practice in a short amount of time.
Practice, have fun, and trade well.
You should only trade with a forex strategy that you’ve proven to yourself. One of the most important tools you need to learn how to use, even before you start trading at any level is how to use the trading platform. We offer a free forex video tutorial that shows you how to set-up and use the MT4 trading platform. There are people that open a live account, get into a trade and do not even know how to close the trade. Then they want the broker to give them their money back, and make things even for them. Once you can use the trading platform proficiently you can move on to learning the trading strategy you are looking at.
You should always practice trading to become acquainted with the indicators. When enough time has been give to simulated trading and the entry and exit signal are easily spotted then move on to demo trading. When demo trading play money is being used with live data feed and real time results. When the winning trades are happening more often than the losing trades, then consider opening a live account with real money. Use the 80-20 rule to determine the proper time to start live trading. At this point you may feel like you are a great trader but you now have to deal with your emotions. The best thing to do is start out trading with very small trades. If the amount of money you will lose on a single trade is uncomfortable to you, then you may want to lower the amount of money you have in the trade. For example: If you set your stop loss at 50 pips and you do not feel good about losing $50.00 on a one lot trade, then you could place a 0.1 lot trade which would give you a loss of only $5.00 if your stop loss is hit. If you feel comfortable with the $5.00 loss then it is ok to be in the trade.
As we all know that this month has been dedicated
as CB Internet University month - where we shall be
learning vital money making secrets on Nigeria's No. 1
Internet Profit Discussion Board.
First of all, I want to salute my Oga and Mentor -
Oluwafisayo Akinlolu (the Admin of this forum) for
introducing this media where we all can learn
different strategies for creating wealth through
the internet.
The internet has definitely come a long way
and there have been proofs upon proofs that one
can create LEGITIMATE wealth online...
In a nutshell, I will be revealing my Trading Blueprint
(my most jealously guarded secrets for trading success)
for creating unending wealth through Online Forex Trading.
Undoubtedly, the Forex market is the largest financial market in the
world with an estimated $1.9 trillion being traded every single day...
waooh that's a lot of money.
Forex trading is the buying and selling of currencies online through
a Forex broker, who serves as intermediary between the market and you.
The sole aim of trading is to make profit. The Forex market can be
compared with the Stock market where you can buy shares of a particular
company, say, Dangote Sugar Refinery at #18 and sell later at #40 for a
gain of #22 per unit. Usually, the profit margin in the Forex market is
higher than the Stock market.
Like I said earlier, in the Forex market we Buy and Sell currencies,
which are usually in pairs e.g. GBP/USD, EUR/USD, USD/JPY, USD/CHF etc.
A currency pair is purchased based on the fact that one unit
appreciates against the other e.g. Buying GBP/USD pair at 1.2040
i.e. 1GBP = 1.2040USD and Selling later at 1.2100 gives you a profit of
60pips which could amount to $60 - $6000 daily (depending on your lot sizes).
To learn more about FOREX visit:
www.mgforex.com/resource/glossary.asp_fxglossary
www.my-forex.biz
www.realtimeforex.com
www.moneytec.com
www.forexdirectory.net
www.forexpips.com
www.babypips.com
www.actionforex.com
www.mataf.net
www.forexblog.org/2007/04/top_100_forex_r.html
www.forexproject.com
www.forexontop.com
FOREX TRADING BLUEPRINT:
STEP 1: Define exactly why you want to be a trader.
STEP 2: Get your psychology right. Learn how to be a disciplined trader.
STEP 3: Define your portfolio objectives.
STEP 4: Select the currency pairs you would ultimately like to trade.
STEP 5: Affirm today: “I will find a system that fits me and I will
become the world's best trader at this ONE style of trading."
STEP 6: Back test your newly designed or newly purchased system
(including your entry, exits, and money management rules).
STEP 7: Open a mini account with any Online FOREX broker of your
choice.
STEP 8: Begin trading your newly designed or newly purchased system
and remember to follow it flawlessly.
STEP 9: Bank your trading profits.
STEP 10: If you don’t start banking profits, discover why you’ve
got a great trading system but you’re still losing.
REM: Creating wealth through the FOREX market is more of a HIGH
strategy game than a HIGH energy game. So it is important that you
seek EDUCATION that will enable you identify market trends - as well
as monitor your investment more intelligently.
http://www.forexyard.com/en/market-analysis/added_risk_fuels_usd_and_jpy_gains-2008-10-20
http://www.sharetrader.co.nz/archive/index.php?t-323.html
http://www.learncurrencytrading.com/fxforum/usd-jpy/13858-discuss-usd-jpy-dailyfx-analyst-124.html
http://easysolar.blogspot.com/2008_09_01_archive.html
Why using VPS?
There is disadvantage using Expert Advisor (EA)
If the power of your pc is off or internet connection disconnected, your Expert Advisor won't trade.
So if you have floating position, you''ll pray for the power is on or internet connection back to normal,
Expert Advisor can't close position while power is off, except you code the Expert Advisor to use Target Profit and Stop Loss as they are recorded in broker server. Don't forget about Stop Loss hunting by broker if you use this.
So I use VPS to overcome unstability of internet connection.
VPS is cheaper than dedicated Server and make sure the VPS you choosed is for trading forex.
Right now, I use CNS for the VPS. Its for Trader only and have maintenance when forex market is over in the weekend.
So far I'm using it until now, without having a single problem.
http://www.forexfactory.com/showthread.php?t=17576
we're still trying to dig more gold from it. we have some success on using it on live account. generally it produces about 120% a month, please do withdraw the profits and let the money management back to original setups. continuosly doing this, i withdrawed about 450% since last November. fund in three time. Therefor, the actual profit that available in my local bank account only about 150% of the original fund size i funded in. anyway, we're trying to make it more safer and trying to eliminate the drawdown scenario, inorder to let the monster continue compounding... become a spawn devil
Below attach some minor mod on the EA
1. Now can use MM on micro account like IBFX.
2. With extra capability on changing the multiplying fact of Martingale. Uses 1.64 would greatly reduce the used margin during double down instead of gambling with 2.00 multiplying down.
3. With capability of dynamic stop loss. When placing max trade at 6, pip step 15, the stop loss will be automatically place at 90pips+Initial stop.
if you guys are interested on 10point3, I dont mind to bring Yeoeleven here, so we can start the entire research again. and I'm not getting boring at all after half a year of live/demo testing it.
http://www.freewebs.com/reynan/
AmbushForex / SnipingForex was created by traders for traders in order to provide free profitable signals. Our aim is to make everyone who knows this website become a succesful trader and share free educational materials to those who wish to know our simple yet profitable strategy. Our primary emphasis are to learn the Basics of Trading : Money Management, Discipline, and Patience. Using a great trading strategy without it is useless. That is why it is considered that 95% of traders fail since only 5% can keep it.
Money Management : Forex trading is not a quick-rich business, if ever odds goes your way make sure you only loss 1-2% of your account balance. We strongly recommend that for account with a balance of $10k and below use only Mini-account ($1.00 - $2.00/ Pip) and for $20K up may use Standard Account ($5.00/ Pip or higher).
Money management is a critical point that shows difference between winners and losers. It was proved that if 100 traders start trading using a system with 60% winning odds, only 5 traders will be in profit at the end of the year. In spite of the 60% winning odds 95% of traders will lose because of their poor money management. It is the most significant part of any trading system. Most of traders don't understand how important it is. It's important to understand the concept of money management and understand the difference between it and trading decisions. It represents the amount of money you are going to put on one trade and the risk your going to accept for this trade.
Discipline: Means keeping your strategy's rules and mechanics. Don't be affected by emotion. Patience: Develop a patience to wait whatever is stated in the strategy or signal or never trade at all.
There may be dozens of strategies in Forex trading. Let¡¯s just talk about the roots. Complement is welcome.
Hedge:
In finance, a hedge is an investment that is taken out specifically to reduce the risk in another investment. Hedging is a strategy designed to minimize exposure to an unwanted business risk, while still allowing the business to profit from an investment activity.
In FOREX, there are two kinds of mainstream hedging strategies:
1, Buy and Sell the same currencies pair, same lots, same timing. Then let it go. While one of those orders goes north, the counterpart will go south. After the winner takes profit, we can wait for the loser turning around. In a yo-yo market, this method works well.
For example, buy 2 lots GBP/USD at 2.0003, at the same time sell 2 lots GBP/USD at 1.9997. While the rate rises up to 2.0053, we close the buy order and take profit 50 pips. Now, the sell order will draw down around 50 pips. Let’s wait for the rate falling down, it will fall down usually, especially in yo-yo market environment. If the rate drops down to 2.0037, close the sell order, the sell order will lose 40 pips. Does it hurt? No. Don’t forget the 50 pips we have taken at the buy order. Totally, we can get 50-40=10 pips. Furthermore, if the rate keeps falling, let’s say down to 2.0027, we can take 50-30=20 pips, etc.
This kind of hedge can work at any currencies pair.
2, Buy (or sell) unequal lots of special currencies pairs and buy unequal quantities of another kinds of currencies pairs which usually move in the opposite direction. This seems a "Semi-Hedge" trading strategy. It is created based on “Correlation” between some particular currencies pairs. So it is not suitable for every currencies pair.
Actually, this kind of hedge has another feature: earning SWAP! You earn interest daily on the held position which can yield up to 50% per year of your full account balance.
There are several pairs can do it. Such as EUR/USD Vs. USD /CHF, GBP/USD Vs. USD/CHF, AUD/USD Vs. NZD/USD, EUR/JPY Vs. CHF/JPY, GBP/JPY Vs. CHF/JPY.
Let's take the EUR/USD and the CHF/USD pairs.
These pairs are historically negatively correlative 93-98% of the time. That is when one pair goes up the other goes down, and vice versa, up to 98% of the time. In a high leverage account (as high as 400:1 or 500:1), you could earn 50% SWAP interest in a year. How? Let's say you have $5,000 in your account and a 10% risk margin set. If the net interest we receive is 1.25% annually, this 1.25% interest will be enlarged to 50% per annum, by the 400:1 leverage.
And, this return does not include the buy low/sell high profits.
But, if the base of this kind of hedge collapses, it means the “Correlation” does not exist any more, for example the “Correlation” drops under 50% or lower, there will be a disaster.
Martingale:
Originally, martingale referred to a class of betting strategies popular in 18th century France. In Forex trading, the strategy let the trader double his/her order lots after every loss, so that the first win would recover all previous losses plus win a profit equal to the original investment. In the example below, you bought 1 lot EUR/USD at 1.4650. Unfortunately, the rate drops. You play it in martingale way, “double down”, buy two lots, you need the EUR/USD to rally from 1.4630 to 1.4640 to break even. As the price moves lower and you add four lots, you only need it to rally to 1.4625 instead of 1.4640 to break even. The more lots you add, the lower your average entry price. Even though you may lose 100 pips on the first lot of the EUR/USD if the price hits 1.4550, you only need the currencies pair to rally to 1.4569 to break even on your entire holdings. Once the rate goes up one more pip, you will win a lot.
EUR/USD Lots Average or Breakeven Price
1.4650 1 1.4650
1.4630 2 1.4640
1.4610 4 1.4625
1.4590 8 1.4605
1.4570 16 1.4588
1.4550 32 1.4569
The Martingale strategy needs a very strict money management and you must understand that in the beginning money will be coming slowly, but if you lose the patience and raise risk level up to much, you may not hang on to the end to see the turn-around.
Anti-Martingale:
The anti-martingale strategy is the opposite of the better known martingale approach. This approach instead increases order lots after wins, while reducing them after a loss. Using an anti-martingale risk management scheme will increase profits during time periods when a trading approach is working well, while automatically decreasing exposure during portions of the cycle where trading is unprofitable. This is believed to decrease the risk of ruin for trading.
Grid:
Basically the trader sets a series of entry limit orders X pips from the current price, for example 15 pips. Some experienced traders like to use the Fibonacci Series Numbers (0, 1, 1, 2, 3, 5, 8, 13, ...) or Golden Section Numbers to make this grid. Once price hits the level the limit order is executed. Then every 15 pips there is another order at limit price executed. And so on. In a yo-yo market, while the price moves up or down, there always be some limit orders executed. Once the order is taken profit, and the price moves to its original level again, a new limit order shall be executed again, then repeat the same process. Just open orders and take profits in a set of "grid". It is simple and easy, but hard to deal with when and how to close all orders, especially the Stop Loss. Some experts say we do not need stop loss, but will you take the chance to hold your all positions till "Margin Call?"
Day trading:
This refers to the practice of buying and selling currencies pairs such that all positions will usually be closed within the same Forex the trading day. The day trading idea comes from stock market. Day traders rapidly buy and sell stocks throughout the day in the hope that their stocks will continue climbing or falling in value for the seconds to minutes they own the stock, allowing them to lock in quick profits. Day trading is extremely risky and can result in substantial financial losses in a very short period of time. Under the rules of NYSE and NASD, customers who are deemed "pattern day traders" must have at least $25,000 in their accounts and can only trade in margin accounts.
But in Forex market, every one can be a day trader to do day trading. Actually, more than day trading, they can do “scalping”.
Scalping:
Scalping is a trading style where small price gaps created by the bid-ask spreads are exploited. It normally involves establishing and liquidating a position quickly, usually within minutes or even seconds. It means trying to get a few points (1~3 pips only, no greed, no long term) off the market every time. This strategy is based on a fact: approximately 70 to 80% of the time, the market is in a consolidation pattern. What this means is that for the majority of time the market is not making significant moves. For example, after the USA market is closed and before the Europe market is open, the Forex market tends to range in a consolidation channel for hours at a time before making another significant move in one direction. This kind of market behavior pattern is ideal for Forex scalping. Every time you enter the market, wait 10 or 20 minutes, once you have several pips gain then cash it and go.
Scalping has some features:
1, Lower exposure, lower risks. Scalpers are only exposed in a relatively short period.
2, Smaller moves, easier to obtain. The normal wave of the market will give you several pips easily.
3, Large volume, adding profits up. Since the profit obtained per share or contract is very small due to its target of spread, they need to trade large in order to add up the profits. Scalping is not suitable for small-capital traders.
But be careful, not every broker welcomes this kind of scalping strategy. If you scalp it too quick and thin, let’s say you just hit 1 pip every 2 or 3 minutes then run, and repeat it again and again within a day, every day, you must feel high, eh? But the broker may be not happy and bans you. You will be kicked out because of your successful scalping!
News Trading:
The system is developed based on economic news events from around the world. Nearly half of those announcements have moved the market significantly. Before a big news is coming, we can buy and sell some currencies pairs at the same time, same lots, set stop loss prices for them. After the news is released, especially for the big one, both sides of buy order and sell order will jump significantly. No matter which order is a winner, just let it go. And the loser will hit the Stop Loss, just let it be. The winner’s gain minus the loser’s loss, it is your news trading profit. For example, Non-Farm Payrolls/Employment Report - The NFP is the most influential news release of every month. It's announced on the first Friday of the month at 8:30am EST for the prior month. We can put a buy order and a sell order at market prices for GBP/USD, at 8:29 am EST. Don’t forget, set 30 pips Stop Loss level for them. Wait 2 minutes only, the news is announced, it is a big one! Then the sell order jumps over 100 pips, and the buy order drops like a brick. The brick hits the Stop Loss and the pain is over. Totally, your gain could be 100-30=70 pips. Quick and easy, cool enough?
Trend Following:
It is so simple, just follow the trend. Buy it is the most difficult strategy because no one can tell you 100% for sure what is the right TREND. Go to look at a weekly chat of USD/CAD, if you had shorted this pair in September 2001 and held it till September 2007, you know what the trend means.
The most famous trend analysis tool seems the Wave Principle. In the 1930s, Ralph Nelson Elliott discovered that stock market prices trend and reverse in recognizable patterns. Elliott isolated five such patterns, or “waves,” that recur in market price data.
Another trend analysis guru should be W. D. Gann. In 1908, Gann discovered what he called the "market time factor", which made him one of the pioneers of technical analysis. To test his new strategy, he opened one account with $300 and one with $150. It turned out to be wildly successful: Gann was able to make $25,000 profit with his $300 account in only three months; meanwhile, he made $12,000 profit with his $150 account in only 30 days! After his results were verified, he became famous on Wall Street as one of the best forecasters of all time.
Back to the chat of USD/CAD, now, please tell me, how to follow the trend? Will USD/CAD continue the trend which is going south further to 0.6000, or, another trend going north reversely back to 1.6000?
--------------------
An EA is an automated trading "robot". Robots can beat human beings at chess games, EA robots can beat humans at FOREX trading also.
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post Jan 15 2008, 09:26 AM
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Arbitrage:
Some people call “Arbitrage” as a risk free strategy. But other people call it as a trick which looks like the cat pawing chestnuts from a fire. But in theory, its risk is minimum in deed. We introduce three types of arbitrage strategies here:
1, Triangle Arbitrage: Searching for two highly fast-moving pairs (like EUR/USD and USD/JPY), the price of a not-so-fast moving pair like EURJPY should always be derived by multiplying (or dividing, etc) the fast-moving pairs. So for example, if EUR/USD is 1.4871 and USD/JPY is 108.24, the logical price of EUR/JPY should be 1.2 x 120 = 160.96. But at the same time, the real EUR/JPY rate is 160.90. The slower moving pair lags behind the logical price, then profit opportunity comes.
In practice currencies are quoted with a bid ask spread, so a trader should be careful that he is actually buying at the quoted ask price, and selling at the quoted bid price. Other transaction costs, such as commissions, might also invalidate the apparent free lunch.
More pairs:
AUD/CAD CAD/JPY AUD/JPY
AUD/CAD GBP/CAD GBP/AUD
AUD/CAD USD/CAD AUD/USD
AUD/CHF CHF/JPY AUD/JPY
AUD/CHF GBP/CHF GBP/AUD
AUD/CHF USD/CHF AUD/USD
AUD/JPY EUR/JPY EUR/AUD
AUD/JPY GBP/JPY GBP/AUD
AUD/JPY USD/JPY AUD/USD
AUD/USD GBP/USD GBP/AUD
AUD/USD USD/CAD AUD/CAD
AUD/USD USD/CHF AUD/CHF
AUD/USD USD/JPY AUD/JPY
CAD/JPY EUR/JPY EUR/CAD
CAD/JPY GBP/JPY GBP/CAD
CAD/JPY USD/JPY USD/CAD
CHF/JPY EUR/JPY EUR/CHF
CHF/JPY GBP/JPY GBP/CHF
EUR/AUD AUD/CHF EUR/CHF
EUR/AUD AUD/JPY EUR/JPY
EUR/AUD AUD/USD EUR/USD
EUR/AUD GBP/AUD EUR/GBP
EUR/CAD AUD/CAD EUR/AUD
EUR/CAD GBP/CAD EUR/CAD
EUR/CAD USD/CAD EUR/USD
EUR/CHF AUD/CHF EUR/AUD
EUR/CHF GBP/CHF EUR/GBP
EUR/CHF USD/CHF EUR/USD
EUR/GBP GBP/AUD EUR/AUD
EUR/GBP GBP/CAD EUR/CAD
EUR/GBP GBP/CHF EUR/CHF
EUR/GBP GBP/JPY EUR/JPY
EUR/GBP GBP/USD EUR/USD
EUR/JPY GBP/JPY EUR/GBP
EUR/JPY USD/JPY EUR/USD
EUR/USD GBP/USD EUR/GBP
EUR/USD USD/JPY EUR/JPY
GBP/JPY USD/JPY GBP/USD
2, Hedging Arbitrage:
This technique is the safest ever, and the most profitable of all hedging techniques while keeping minimal risks. This technique uses the arbitrage of roll over interest rates (SWAP) between two brokers.
One broker which pays or charges roll over interest at end of day, and the other should not charge or pay this kind of roll over SWAP interest. The main idea about this type of Hedge Arbitrage is to open a position of currency (Fore example, the highest SWAP GBP/JPY) at a broker which will pay you a high interest for every night the position is carried, and to open a reverse of that position for the same currency with the broker that does not charge interest for carrying the trade. This way you will gain the interest or SWAP that is credited to your account, risk-free.
3, Netting Arbitrage:
The main idea behind the strategy is, using differences between cross rates (such as EUR/USD, GBP/USD, and EUR/GBP) at different markets.
For example, suppose you had opened the following positions:
buy 1 lot EUR/USD at 1.4867;
sell 1 lot EUR/GBP at 0.7600;
and sell 0.76 lot GBP/USD at 1.9566.
The netting/clearing gives the following results:
Long EUR from the first pair and short EUR from the second pair gives zero exposure in EUR.
Long position in GBP from the second pair and short position from the third pair gives zero exposure in GBP.
Short position from the first pair ($148,670.00) in USD and long position from the third pair ($195,660.00*0.76) in USD gives you $31.60 profit without open positions and exposures. Simple? You tell me.
http://fxtrade.oanda.com/tools/
fxcalculators/profit_calculator.shtml
profit calculator
http://binarytrading.blogspot.com/
free signal
What is important in selecting a Forex Metatrader Broker?
There are many factors that are important in selecting a Forex Broker. Quality of Execution, Low Spreads, Good Trading Software, Trust and Experience, and Amount of Margin Offered (Leverage). Please remember, the high levels of leverage used in Forex trading can magnify losses as well as gains.
The first thing that most people look at is the spread, and this is very justified. Paying too large a spread can make or break a trader. For example if a trader does three 1 lot trades a day in the Euro at FXCM they will pay $90 and only $60 at FXDD. This 1 pip difference in spread amounts to $600 a month difference!
The most profitable currency pairs
Rich from over at forexproject.com has written a post detailing which currency pairs have been most profitable for him. I find his results quite interesting because I think (I haven't actually looked at the numbers) by far the */JPY currency pairs have been most profitable for me as well.
Seeing that someone else has also found these currency pairs to be the most profitable is a good reason for me to focus on these currency pairs instead of trying my luck on the EUR/USD.
Here are Rich's results, I think you'll agree they are interesting!
USD/JPY: +3720
EUR/JPY: +2400
GBP/JPY: +1370
USD/CAD: +890
NZD/USD: +470
USD/CHF: +420
EUR/GBP: -70
AUD/USD: -130
GBP/USD: -$410
CHF/JPY: -650
EUR/USD: -$1430
Some currencies tend to move in the same direction, some — in opposite. This is a powerful knowledge for those who trade more than one currency pair. It helps to hedge, diversify or double profitable positions.
Statistically measured by performance, currency pairs are given so called "correlation coefficients" from +1 to -1.
A correlation of +1 means two currency pairs will move in the same direction 100% of the time. A correlation of -1 means they will move in the opposite direction 100% of the time. A correlation of zero means no relation between currency pairs exists. Information about current correlation coefficients can be found here: Currency Correlations Table
The example of strong positive correlation between two currency pairs is: GBP/USD and EUR/USD. They have a correlation coefficient of over +0.90, which means that when EUR/USD goes up, GBP/USD also goes up.
A well known sample of two opposite moving currency pairs is EUR/USD and USD/CHF, they have very high coefficient of over -0.90, which means that they move inversely almost 100% of the time!
Examples of same direction moving currency pairs are:
EUR/USD and GBP/USD
EUR/USD and NZD/USD
USD/CHF and USD/JPY
AUD/USD and GBP/USD
AUD/USD and EUR/USD
Inversely moving pairs are:
EUR/USD and USD/CHF
GBP/USD and USD/JPY
GBP/USD and USD/CHF
AUD/USD and USD/CAD
AUD/USD and USD/JPY
How a trader can use this information?
1. A very simple use is avoiding trades that cancel each other. For instance, knowing that EUR/USD and USD/CHF move inversely near-perfectly, there would be no point to go short on both positions as they eventually cancel each other (loss + profit).
1.a. However, there is a strategy of hedging one currency pair with another. Lets' take the same pairs: EUR/USD and USD/CHF. For example, a trader has opened long positions on both currency pairs. Since they move in opposite directions, if EUR/USD is making some losses, the other pair will go in profit. Hence, the total loss will not be as bad as if it would be without the second "backup trade". On the other hand, profits here are not large either.
2. When confident, a trader may double position size by placing same orders on parallel (moving in the same direction) currency pairs.
3. Another option would be to diversify risks in trade. For instance, AUD/USD and EUR/USD pairs have the correlation coefficient of about +0.70 which means that pairs are moving mostly in the same direction but not as perfect (which is what we need here). If we decide that USD is going to weaken, for example, we will go long and place half of buy order on AUD/USD currency pair, and half on EUR/USD. Splitting the orders will preserve trader's positions from sudden losing rallies (sudden "jumps" in price); and as these currencies move not 100% identical a trader will have some time to react adequately. Different monetary policies of different countries' banks also create an impact: when one currency will be less affected than the other and therefore will move slower.
Forex Rollover Rates
"CP (BC/CC)" "BUY Positions" "SELL Positions"
AUD/CAD 9.13 -12.43
AUD/JPY 15.83 -18.33
AUD/NZD -3.85 1.16
AUD/USD 11.20 -13.60
CAD/JPY 4.91 -7.96
CHF/JPY 2.50 -5.00
EUR/AUD -14.69 12.19
EUR/CAD 1.94 -5.24
EUR/CHF 7.52 -10.00
EUR/GBP -7.22 1.95
EUR/JPY 13.89 -15.83
EUR/USD 5.00 -7.80
GBP/CHF 14.29 -18.10
GBP/JPY 25.10 -25.56
GBP/USD 12.50 -15.50
NZD/USD 10.50 -13.50
USD/CAD -2.91 0.00
USD/CHF -2.00 -2.48
USD/JPY 3.98 -6.11
USD/MXN -14.48 9.66
XAG/USD 4.6585 -5.5444
XAU/USD 10.94669 -14.02397
I only trade daily charts and only EUR/USD, GBP/USD, USD/JPY and USD/CHF. Why these? Primarily because these are the only ones I have backtested and have been trading for the last 3 months. I also tend not to trade Monday mornings (Australian time) as prices sometimes gap over the weekend. However, this is discretionary.
On each chart I have an 8 period RSI. I also have an 8 period MA of the RSI and Bollinger Bands with a 20 period setting, also on the RSI.
Long Entries: RSI must be below the middle Bollinger Band. Enter long on the open of the next bar after the MA has crossed above the RSI.
Short entries: RSI must be above the middle Bollinger Band. Enter when MA crosses below RSI.
Stop loss is the low/high of the previous bar. I move S/L to break even if the price moves greater than 40 pips in my direction. After the initial 40 pip move I use a trailing stop for exits (25 pips).
I only look at the charts once per day, just before 0.00 GMT. This way I know which pairs are approaching my set-up. I then place trades if my criteria has been met. That's it. A simple system that seems to work for me. Looking at charts all day does not suit me as I have a real job and I'm not in a convenient timezone. 10 minutes a day is all I need. This method provides a limited number of trades but the trades can last anywhere from 1 day to numerous days. There can also be days on end with no trades. I have found that the secret is have patience. I also have come to believe those who say longer timeframes are easier, especially for newbies.
Correlation trading - no charts required
This is a correlation trading system that assumes we don’t know where price is going. It uses two currency pairs (EUR/USD and USD/CHF) that only trades long positions (no shorts). The system doesn’t use Technical Analysis. It's all about money management and collecting swap interest.
Rules:
1) Use small equal position size dependent on your personal risk (currently testing a $5000 trading account using .1 lot for each position taken).
2) Enter a long for both pairs.
3) Enter a 100 pip take profit for both pairs based on rule #2.
4) Enter buy stop for both pairs at the take profit level based on rule #3 with a 100 pip take profit.
5) For the losing pair, position average (based on all open positions) using buy limits every 200 pips with a take profit set to break even for all averaged positions. Reset buy stop at this price level with a 100 pip stop loss.
by PIP_CHASER
Hedge Grid Trading System
The Hedge Grid System assumes that the market will move sideways, since this is true most of the time the system will work well.
Basically we will open buy and sell orders (entry or pending orders) at the same price (hedging position) this two orders will have set a TP price. So as soon as one orders closes with profit we open two more orders (buy and sell at the current price, again this orders are entry orders). And create an entry order replacing the one that closed with profit. Here is a grid setup:
GBP/USD
SELL ENTRIES
ENTRY LOTS TARGET
2.0600 1.0000 2.0464
2.0460 1.0000 2.0324
2.0320 1.0000 2.0184
2.0180 1.0000 2.0044
2.0040 1.0000 1.9904
1.9900 1.0000 1.9764
1.9760 1.0000 1.9624
1.9620 1.0000 1.9484
1.9480 1.0000 1.9344
1.9340 1.0000 1.9204
BUY ENTRIES
ENTRY LOTS TARGET
2.0604 1.0000 2.0740
2.0464 1.0000 2.0600
2.0324 1.0000 2.0460
2.0184 1.0000 2.0320
2.0044 1.0000 2.0180
1.9904 1.0000 2.0040
1.9764 1.0000 1.9900
1.9624 1.0000 1.9760
1.9484 1.0000 1.9620
1.9344 1.0000 1.9480
These are pending orders, assuming 4 pips spread. For example lets say the current bid price is 2.0039 ask price is 2.0043, when the bid price reaches 2.0040 the ask price will be 2.0044, triggering a SELL at 2.0040 TP 1.9904 and a BUY at 2.0044 TP 2.0180 (tp are configured at 140 pips). We will call this ORDER 1.
ORDER 1 SELL 2.0040 TP 1.9904 BUY 2.0044 TP2.0180
Lets assume the price moves upward and reaches the next level (bid price 2.0180 ask price 2.0184) at this point the BUY order will close taking 140 pips profit. We open a second group of orders: SELL at 2.0180 TP 2.0044 and BUY at 2.0184 TP 2.0320. The current status is:
ORDER 1 SELL 2.0040 TP 1.9904 (Open -140 pips) BUY 2.0044 TP 2.0180 (Closed +140pips)
ORDER 2 SELL 2.0180 TP 2.0044 (Open) BUY 2.0184 TP 2.0320 (Open)
Cashed in pips: +140
Since we have 1 closed order, we must enter the same order at the same price (BUY at 2.0044 TP 2.0180) to mantain the hedge.
Lets assume the price falls to 2.0040 (bid) 2.0044 (ask). SELL #2 closes with profit. Since we have one sell currently open from the very beginning at this price only one pending order will be executed (BUY order). So the current status will be:
ORDER 1 SELL 2.0040 TP 1.9904 (Open 0 pips) BUY 2.0044 TP 2.0180 (Open)
ORDER 2 SELL 2.0180 TP 2.0044 (Closed +140 pips) BUY 2.0184 TP 2.0320 (Open -140 pips)
Cashed in pips: 280 Net profit: 140 (280 minus 140 from open orders).
So this is basically the idea behind the concept of trading the grid. We setup pending orders at different level prices, so when price reaches a level a BUY and a SELL order will be executed, once one closes at TP price, we only replace the one closed.
Like I said before Im demoing this system, and will do for at least a couple of months since this is a medium-long term strategy. The trick here is to use Daily chart as a reference of the price movement, and choose an appropiate grid gap size, for this example I used 140 pips on GBP/USD. Other currency pairs will need more or less grid gap sizes.
So, when will be the right moment to enter the grid?
Since this system doesnt work well if the price is trending and the original system rules didnt tell me when should I enter the grid, so I use RSI(100), when the level touches 50 I think is a good moment to enter, and RSI must be between 45-55, if RSI goes off this boundaries we should exit ALL positions. Another way to exit will be if you reach a 3rd or 4th level in your grid, but again, Im demoing and thats the reason I start this thread, to post my results.
I encourage you guys to demoing (if you havent done it yet) this system, and lets see the results. ok?
I will be posting my current grids status at night when I came home.
http://www.ea-performance.com/forex-strategies/index.php
Hedge Grid Trading System
Correlation trading - no charts required
The Daily Fozzy Method
Reload this Page Trend Hugger System
a very simple EURUSD strategy
The art of Trading MAs
Part Time Wealth Building Trading System - Weekly Scalping
Trading the Daily by Bobokus
OzFx System-100-800 Pips Per Trade
Hedge Grid Trading System
The grid hedge - the core version
Super Carry Trade Trading System by Dreamliner
PowerSwing System For Long term trading
ISAKAS METHOD by kuskus Osentogg
False Breakout Filtering
The 3 Duck's Trading System
Power Trading
Daily 95 pips
Scalping GBP/Jpy on 5 min chart-by Imran Sait
Between 40-100 pips per Day
45 Pips Per Day System Eur/usd
Weekly breakout system - SIBKIS
CatFX50
Daily Scalping
Simple Combined Breakout System for EUR/USD and GBP/USD
http://www.fxfisherman.com/forums/forex-metatrader/trading-systems/2870-amazing-gbp-jpy-indicator.html
http://www.fxfisherman.com/forums/forex-metatrader/trading-systems/2870-amazing-gbp-jpy-indicator.html
Rules Of Trading
Trade Only When Trend and Position Indicator Agree
Trade With Your Mind, Not Your Heart
Trade Actuarially. Trade With a Clear Goal in Mind !
Avoid Being A Psycho-Trader!
No System is Infallible! Risk No More Than 5 % Equity per Live Session
Accept Losses as Graciously as You Accept Profits
Get Potential Profit With Trailing Stop EA
If the price moves in opposite direction the system change the Stop Loss (SL) level so the worst
case scenario is that you exit this trade with break even, profit and minimize lost.
On MT4 minimum Trailing Stop : 15 but with this EA you can set only 5 point.
You can DOWNLOAD This EA For FREE in This LINK
and User Guide in This Link
Using this EA, You can set Take Profit (TP) at smaller Pips but with bigger Lot.
It Means, Making Bigger Potential Win at each Trade.
Remember Again: Please test the Indicator and the Trailing Stop EA in to your demo account first, better late then regret later.
http://forex-guides.blogspot.com/2007/03/expert-advisor-builder-for-metatrader-4.html
http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/index.html
http://sufx.core.t3-ism.net/ExpertAdvisorBuilder/forum/viewtopic.php?t=2
In this morning I find interesting website. It guides you to make an Expert advisor for MetaTrader 4 yourself, although you are not a programmer or someone like that. You just need three steps to build it. Here the steps:
1. Add Logics and input parameters.
2. Input Order options.
3. Click "Complete!" button.
I think all of you can build a useful EA both for your trading and for some friends'
Introduction
Expert Advisor Builder can easily create Expert Advisor for MetaTrader 4. *Please enable JavaScript.
1. Add Logics and input parameters.
2. Input Order options.
3. Click "Complete!" button.
If you'd like to save/load your settings, click "Save"/"Load" button.
* What's New(21 Oct. 2007)
o 21 Oct. 2007 Change template tags and user interface design.
o 24 Apr. 2007 Add the 'Template', to use your own MQL codes.
o 3 May. 2006 Add the function of sending mail.Switch 'SignalMail' variable of the property.
o 11 Apl. 2006 Support trading multi currencies at the same time.(Attach EAs to charts of currencies you'd like to have it trade.)
o 28 Jan. 2006 Add 'Save/Load' saves/loads your settings to/from the file.
o 11 Jan. 2006 Add 'Variables' can make you easily input the same indicators/parameters, mathematical operations and more advanced operations.
o 7 Jan. 2006 Support the immediate reversal entry.
o 5 Jan. 2006 [BugFix] Entry signals and Exit signals had been executed at the same time.
o 31 Dec. 2005 [BugFix] The StopLoss, TakeProfit options hadn't worked.Please modify the following part in the file had already been downloaded.
StopLossLevel = Ask - StopLoss * Point; -> if (StopLossMode) StopLossLevel = Ask - StopLoss * Point; else StopLossLevel = 0.0;
TakeProfitLevel = Ask + TakeProfit * Point; -> if (TakeProfitMode) TakeProfitLevel = Ask + TakeProfit * Point; else TakeProfitLevel = 0.0;
StopLossLevel = Bid + StopLoss * Point; -> if (StopLossMode) StopLossLevel = Bid + StopLoss * Point; else StopLossLevel = 0.0;
TakeProfitLevel = Bid - TakeProfit * Point; -> if (TakeProfitMode) TakeProfitLevel = Bid - TakeProfit * Point; else TakeProfitLevel = 0.0;
o 28 Dec. 2005 Add 'Symbol', 'Timeframe' parameters to the parameters form.
o 27 Dec. 2005 Add an extern setting of "Magic number" to the exporting file and insert it in comment fields in the Account History Log.
o 27 Dec. 2005 Add the link to indicator's images and the Website distribute custom indicators on the parameters form.
o 25 Dec. 2005 Add 'Custom Indicator' and some custom indicators on the indicators form.
o 25 Dec. 2005 [BugFix] The export file could not be compiled.(Please make line feed code CR + LF, and save the file has already been downloaded.)
o 23 Dec. 2005 Change from 'Close logics' to 'Close(Buy) logics/Close(Sell) logics'.
o 22 Dec. 2005 Add 'Collapse/Expand' on the parameters form.
o 17 Dec. 2005 Release.
In no event will author be liable for any damages whatsoever, including direct, indirect, special, consequential, incidental, exemplary, punitive or other damages such as lost profits or revenue, business interruption, data loss, costs of Replacement goods or damages to your computer equipment arising out of or in connection with the use of, or inability to use, this site or any other hyper linked Web site or the information contained or services offered at any of these sites, even if author is expressly advised of the possibility of such damages.Please use at your own risk.
MT4 Expert Advisor (EA) - Over $4600 profit in 9 days
Get yours and make easy $ www.therobotrader.com
http://expertadvisorsfx.blogspot.com/
Introducing the Extreme Advisor for Meta Trader 4 (Auto Trading Solution)
If your Forex Auto Trading (Expert Advisor)
is not making thousand of dolors trading the
Forex market automatically in 1 month, you got a big problem, get rid of it and get the RIGHT SYSTEM!
Extreme Advisor system has taken over a year of testing and coding before coming to the market and this shows with the performance results. Trading forex is one of the few things that can make you immensely rich in a relatively short period of time and using this system even a complete amateur can trade the forex market successfully.
Please take a look at the performance below where you can see the trades detailed for last 4 months resulting in a clear profit, trading with full money management.
Extreme Advisor is 100% automated, simply attach the program to your Metatrader 4 (MT4) live trading account and then go about your daily business, this takes the emotion from trading and will not miss a trade night or day.
Most sellers of expert advisor given you an unbelievable results and such ridiculous claims , like you can make over 1000% return in 1/2 a year or making million of dollars in short period of time. If the system is so good then every body would be a millionaire already, right?
Let face the fact. No expert advisor can do that. But growing your bank each through various form of income from FOREX market is achievable with Extreme Advisor System.
Click the below to download:
User Guide: http://rapidshare.com/files/116193017/ExtremeAdvisors_User_Guide.txt.html
EA System: http://rapidshare.com/files/116192455/ExtremeAdvisor.mq4.html
http://rebatefx.com/signals/when-are-these-forex-signals-updated
When are these Forex Signals updated?
Hi. If you are new to this blog, you might be wondering when the free forex signals are updated.
I do it twice per day.
1) Between 6:00am and 6:45am GMT Mon-Fri I post the main signals here in the blog. The signals are meant for London/European sessions but sometimes don’t trigger until the US session.
2) The second set of signals are posted a few minutes after 9PM GMT (New daily candle on FXFrench) and are for Swing trades. They are not posted all the time. Only when a good opportunity arises will I post a Swing signal. There are a few per month though.
I suggest using a trailing stop if your platform supports it or make sure you set your own break even or positive profit stop loss as you see fit.
This Free Forex Signals service will always be free. Why? It increased my site traffic and eventually through accounts opened at RebateFX.com it pays me anyway. What you get out of it is (hopefully :p) profitable signals and if you are a rebatefx client, a monthly rebate paid into your trading account.
You may visit http://www.rebatefx.com/register.html to open an account with RebateFX and earn a rebate like many others are already doing.
That’s it. If you have a question, feel free to comment or contact me through the main site.
Cheers!
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