Yen-crosses were in meltdown mode this morning.
I am currently foreseeing (i.e. more like hoping) a late recovery. The buy-back mode seems to kick start about an hour ago.
Here is a great article to ponder over the weekend:
The World's Largest Banks Are Now Trapped
Friday, February 29, 2008
Technical Issues on ForexAutoPilot EA
Latest Update: Great news ! My site readers can now use this e-mail address to reach Marcus & support team 'faster'. In addition, the technical problem surrounding the forexautopilot EA has been resolved via the latest EA update. In the mean time, you can also check out this latest performance report from the forexautopilot trading team.
(Originally posted in my forex killer autopilot trading blog)
A lot of distress comments/e-mails lately about the ForexAutoPilot EA not firing up any trades and its lame technical support. I directed all your concerns to Andreas and here is the latest email response I managed to get from him. Below is the direct quote of his reply..
I am not sure what is happening. Everyone please download the EA again just for sure. If still not working, simply request a new copy again from the program developer. The best I can do FOR NOW is helping you to redirect your queries or problems to Andreas. I am not paid for this kind of job though ;0) !
If you wish to obtain this new AutoPilot EA, please be warned about the lack of response from the customer support. In the mean time, I would like you to consider also my forex day trading method which can provide you with 'real' forex trading knowledge/support and allow trading within your own control.
(Originally posted in my forex killer autopilot trading blog)
A lot of distress comments/e-mails lately about the ForexAutoPilot EA not firing up any trades and its lame technical support. I directed all your concerns to Andreas and here is the latest email response I managed to get from him. Below is the direct quote of his reply..
From Marcus:
About no trades in few days comment:
"Experts-Robots open trades few times a week when their internal indicators see the market conditions to open trades. They don't have to open many trades or trade every single day. The role is to make profit, not to make many trades! Also Experts dont trade on weekends because forex market is closed."Robot must work on EuroUsd M1 only!"
About Alligator Jaw error = 129 error:
"it was fixed, ask the client to redownload robot."
From Andreas:
To add, I personally started to use FAPS Forexautopilot on Demo in http://alpari.co.uk/ and made over 1500 of profit in few trades for last days, so I can personally confirm and show the record that this EA is really working and making money. Maybe not in all brokers. I attach the proof screenshot of account. Please post this screenshot to let people know. HERE.
I am not sure what is happening. Everyone please download the EA again just for sure. If still not working, simply request a new copy again from the program developer. The best I can do FOR NOW is helping you to redirect your queries or problems to Andreas. I am not paid for this kind of job though ;0) !
If you wish to obtain this new AutoPilot EA, please be warned about the lack of response from the customer support. In the mean time, I would like you to consider also my forex day trading method which can provide you with 'real' forex trading knowledge/support and allow trading within your own control.
Thursday, February 28, 2008
Creating Value (Knowledge) Out of Ordinary
I know that I am not promoting 'top-notch' trading software, but I manage to add value for my readers. Sometimes, I even think my instructions are more valuable than the software. They provide you with a software tool, and I do my utmost to provide you with the right knowledge and support.
As a proof, here is a latest reader's feedback on my value (knowledge) creation, i.e. the bonus set of trading instruction/strategy which is a giveaway to you guys.
Thanks for the good feedback. (I appreciate it, please keep them coming, good or bad.)
Back to knowledge creation, right now, I even 'own' a right channel - my day trading service along with live trading sessions and daily updates - to disseminate my humble knowledge in the forex trading arena. I like my blog (with new goals), I like trading and I am here to provide value + support to you guys ... Go blog go ! Yipee !
As a proof, here is a latest reader's feedback on my value (knowledge) creation, i.e. the bonus set of trading instruction/strategy which is a giveaway to you guys.
Thanks so much.
Following your method, I managed to nail 30 pips last nite (or morning US time) trading GBP/USD.
I hope I can keep this up and will let you know as I progress.
xxx, Singapore
Thanks for the good feedback. (I appreciate it, please keep them coming, good or bad.)
Back to knowledge creation, right now, I even 'own' a right channel - my day trading service along with live trading sessions and daily updates - to disseminate my humble knowledge in the forex trading arena. I like my blog (with new goals), I like trading and I am here to provide value + support to you guys ... Go blog go ! Yipee !
Wednesday, February 27, 2008
From HectorTrader: The D-day Battle
This post was brought to you by Hector of 3SMA Forex System and first posted on his site on 25 Feb 2008.
Hello everyone,
The NZDUSD I entered last Friday is still developing positively in my direction. Right now it’s retesting the key level 0.8100 which is the historical high of July 2007. In my opinion, this battle will be won or lost right there: if the bulls manage to breach through I reckon this trade will net me some good profits; if not, I will be ready to exit out at the first signals of weakness.
For the time being it’s sitting at +75 pips in profit as you can see in the screenshot below. But like I said, the level to watch now is 0.8100… Go Kiwi go!
-HECTOR-
---------------------------------------------------------------------------
(p.s. the kiwi has moved past the 0.8100 level and currently trades at 0.8188 as I type these lines.)
FYI, Hector likes to search for setups on multiple non-major crosses such as NZDJPY, GBPCAD, EURAUD and etc. Those currency pairs are quite 'exotic' to me as the spread costs on those pairs are often 4-to-7 pips wide. But, they are the perfect candidates for his 3SMA Forex System.
Q & A with Hector
Here is my recent Q & A with Hector.
me: Do you currently trade full time?
Hector: I trade full time from home around the London market schedule. Is full-time trading a reality or a myth you ask? It's indeed a reality. HOWEVER, the problem is in the expectations new traders have when it comes to trading. They think they can toss 10k to a broker and trade for a living within few months. First of all, it takes MUCH longer than that to develop a deep-enough understanding of the market. Secondly a larger account size is needed to be able to live exclusively off trading without going kamikaze at every trade.
me: Do you have any special indicators to help identify the chart patterns easily and to standardise the trade entry process?
Hector: I haven't looked for any indicator's help beyond my 3SMA trend filter indicator (and the Dashboard). For me it's just a time saver to scan through the charts every morning, that's all. Once I have spotted the trends, I proceed 100% manually from there. And finally, most new traders don't understand that psychology is the key to trading, and not any super indicator combo. Patience > MACD. Discipline > RSI. Limiting your losses > Bollinger Bands, etc. You know what I mean.
me: Well said, Hector.
Hello everyone,
The NZDUSD I entered last Friday is still developing positively in my direction. Right now it’s retesting the key level 0.8100 which is the historical high of July 2007. In my opinion, this battle will be won or lost right there: if the bulls manage to breach through I reckon this trade will net me some good profits; if not, I will be ready to exit out at the first signals of weakness.
For the time being it’s sitting at +75 pips in profit as you can see in the screenshot below. But like I said, the level to watch now is 0.8100… Go Kiwi go!
-HECTOR-
---------------------------------------------------------------------------
(p.s. the kiwi has moved past the 0.8100 level and currently trades at 0.8188 as I type these lines.)
FYI, Hector likes to search for setups on multiple non-major crosses such as NZDJPY, GBPCAD, EURAUD and etc. Those currency pairs are quite 'exotic' to me as the spread costs on those pairs are often 4-to-7 pips wide. But, they are the perfect candidates for his 3SMA Forex System.
Q & A with Hector
Here is my recent Q & A with Hector.
me: Do you currently trade full time?
Hector: I trade full time from home around the London market schedule. Is full-time trading a reality or a myth you ask? It's indeed a reality. HOWEVER, the problem is in the expectations new traders have when it comes to trading. They think they can toss 10k to a broker and trade for a living within few months. First of all, it takes MUCH longer than that to develop a deep-enough understanding of the market. Secondly a larger account size is needed to be able to live exclusively off trading without going kamikaze at every trade.
me: Do you have any special indicators to help identify the chart patterns easily and to standardise the trade entry process?
Hector: I haven't looked for any indicator's help beyond my 3SMA trend filter indicator (and the Dashboard). For me it's just a time saver to scan through the charts every morning, that's all. Once I have spotted the trends, I proceed 100% manually from there. And finally, most new traders don't understand that psychology is the key to trading, and not any super indicator combo. Patience > MACD. Discipline > RSI. Limiting your losses > Bollinger Bands, etc. You know what I mean.
me: Well said, Hector.
Sunday, February 24, 2008
The Best of Scout-Forex on Expert Advisor Trading
The automated trading championships 2007 has showcased many innovative ideas and talents, such as the "Better" system by Olexandr Topchylo, the "Wackena" system by William Boatright. Hence, the goal of Scout-Forex in finding profitable expert advisor trading systems.
Finding Profitable EA Systems (ground zero)
Here are the "experimental" steps I took towards developing my own EAs with an aim to enrol one of them in the automated trading championship 2008. Backtesting and method reviewing, forward testing, system optimisation, measuring system performance, as well as searching for other possible system improvement.
At present, the experimental phase is nearing an end, as I had some highs and lows. Meanwhile, I have to clear some of my own "misconception about expert advisor trading as I was misled by some of my own previous thoughts. I still agree that a true goal of EA trading is to make a living (steady income) by generating consistent daily/weekly profits. However, one should not deny own dream goal to grow a small trading account size to a massive one (despite the odds stacked against it ) and in the mean time, have some adventurous fun !
Finding Profitable EA Systems (#1)
William Boatright's Bogie EA was Scout-Forex's first clear choice due its stellar performance in the championship. The EA uses a daily "trend" indicator code to determine price direction. The EA hit a bump recently when the trend (i.e. EURUSD daily) was "exhausted". The developer has since responded by introducing a neural network indicator to filter signals and be more selective on order entry.
This core trading concept also strikes a resemblance with my day trading approach. I also believe in momentum trading that the current bullish or bearish trend will continue until next day. Hence, I use several program algorithms to filter out the odd-performing currency pairs and to select only strong technical setup.
Finding Profitable EA Systems (#2)
The ForexAutopilot EA was introduced by Andreas Kirchberger and developed by Marcus Leary. After some initial hiccups, Marcus has responded by replacing the original eight EAs with one ForexAutoPilot EA. The EA is designed to scrap for small profits during intraday movement (i.e EUR/USD M1) and aim for a 100% win record by not using a stop-loss mechanism.
Despite my initial concern over the system drawdown, I soon realised that one should not doubt the system's clear intention and well-defined objective. The new Forex AutoPilot EA should perform very well in a SIDEWAY market, as long as the market (in this case, EUR/USD) is not hitting a new high or a new low, and breaking out of its long established trading range.
Finding Profitable EA Systems (ground zero)
Here are the "experimental" steps I took towards developing my own EAs with an aim to enrol one of them in the automated trading championship 2008. Backtesting and method reviewing, forward testing, system optimisation, measuring system performance, as well as searching for other possible system improvement.
At present, the experimental phase is nearing an end, as I had some highs and lows. Meanwhile, I have to clear some of my own "misconception about expert advisor trading as I was misled by some of my own previous thoughts. I still agree that a true goal of EA trading is to make a living (steady income) by generating consistent daily/weekly profits. However, one should not deny own dream goal to grow a small trading account size to a massive one (despite the odds stacked against it ) and in the mean time, have some adventurous fun !
Finding Profitable EA Systems (#1)
William Boatright's Bogie EA was Scout-Forex's first clear choice due its stellar performance in the championship. The EA uses a daily "trend" indicator code to determine price direction. The EA hit a bump recently when the trend (i.e. EURUSD daily) was "exhausted". The developer has since responded by introducing a neural network indicator to filter signals and be more selective on order entry.
This core trading concept also strikes a resemblance with my day trading approach. I also believe in momentum trading that the current bullish or bearish trend will continue until next day. Hence, I use several program algorithms to filter out the odd-performing currency pairs and to select only strong technical setup.
Finding Profitable EA Systems (#2)
The ForexAutopilot EA was introduced by Andreas Kirchberger and developed by Marcus Leary. After some initial hiccups, Marcus has responded by replacing the original eight EAs with one ForexAutoPilot EA. The EA is designed to scrap for small profits during intraday movement (i.e EUR/USD M1) and aim for a 100% win record by not using a stop-loss mechanism.
Despite my initial concern over the system drawdown, I soon realised that one should not doubt the system's clear intention and well-defined objective. The new Forex AutoPilot EA should perform very well in a SIDEWAY market, as long as the market (in this case, EUR/USD) is not hitting a new high or a new low, and breaking out of its long established trading range.
Friday, February 22, 2008
Zulutrade Hidden Gem: It's Not Perfect Unless It's (Almost) 100%
One of the Main Goals of this forex blog is to research plus review various possible ways/ resources that might help readers (including myself) to trade profitably in the forex market.
They could be of any trading approaches, such as Momentum Trading, Breakout Trading, News Trading, Day Trading, Fast Scalping, Signal Software Trading, Expert Advisor Trading, Signal Provider System, Short-Term Trading, Long-Term Trading, and etc.
In general, I told most of my information/stories based on my own encounter and knowledge. Or even better sometimes, I discover something thru third parties (e.g. blog readers, software developers and sellers, etc) encounter. I can assure you that the learning process and benefits are MUTUAL.
New Forex Auto-Trading Tip on Zulutrade
I just learned this from my blog reader (indirectly) over a short two-week time period, and he/she is one of my referred Zulutrade user. (He/she must have read my previous posts on Zulutrade Signal Providers). I can assure you that the current 'hottest' Zulutrade's Signal Providers are not what you normally see on the front performance page - which I called it the revamped Zulutrade Performance Leaderboard.
What I am about to introduce to you is the "Most Users Performance LeaderBoard" (see figure below) which includes signal providers which open and holding many lots at one time. After examining their track records, I can again assure you that they are REAL Money Makers for any Zulutrade Account Holder who has already subscribed to them. For this reader of mine mentioned previously, he/she uses them effectively (i.e. started with a large bankroll) and has since powered up his/her FULL-SIZE trading account by +70% in less than 2-week time !
A System Isn't Pefect Unless It's (Almost) 100% ?!
For you who have not heard of Zulutrade before, I would recommend you to open several 30-day free Demo Accounts to run the following BIG 5 SIGNAL PROVIDERS separately: 4x World,4xMarketTrackers, CurrencyForce, The Forex Club, fx-millionaire, and also CHF/JPY-Mover. The first four are from a team of forex specialists dealing with the GBP/JPY market only. Do your due diligence before investing for real.
They could be of any trading approaches, such as Momentum Trading, Breakout Trading, News Trading, Day Trading, Fast Scalping, Signal Software Trading, Expert Advisor Trading, Signal Provider System, Short-Term Trading, Long-Term Trading, and etc.
In general, I told most of my information/stories based on my own encounter and knowledge. Or even better sometimes, I discover something thru third parties (e.g. blog readers, software developers and sellers, etc) encounter. I can assure you that the learning process and benefits are MUTUAL.
New Forex Auto-Trading Tip on Zulutrade
I just learned this from my blog reader (indirectly) over a short two-week time period, and he/she is one of my referred Zulutrade user. (He/she must have read my previous posts on Zulutrade Signal Providers). I can assure you that the current 'hottest' Zulutrade's Signal Providers are not what you normally see on the front performance page - which I called it the revamped Zulutrade Performance Leaderboard.
What I am about to introduce to you is the "Most Users Performance LeaderBoard" (see figure below) which includes signal providers which open and holding many lots at one time. After examining their track records, I can again assure you that they are REAL Money Makers for any Zulutrade Account Holder who has already subscribed to them. For this reader of mine mentioned previously, he/she uses them effectively (i.e. started with a large bankroll) and has since powered up his/her FULL-SIZE trading account by +70% in less than 2-week time !
A System Isn't Pefect Unless It's (Almost) 100% ?!
For you who have not heard of Zulutrade before, I would recommend you to open several 30-day free Demo Accounts to run the following BIG 5 SIGNAL PROVIDERS separately: 4x World,
The systems as mentioned earlier share a resemblance with the ForexAutoPilot EA (mentioned in these previous posts) which are specifically designed to AIM for a 100% win record.
I might as well try to develop similar systems / EAs to emulate this trading concept, but need to beware of the potential system drawdown.
Technical Help: Forex AutoPilot EA
Here are some of my thoughts and technical notes about the operation of Forex AutoPilot EA.
Note 1: System Drawdown
I've just noticed this. The drawdown on the very last position seen in the first assessment (or simply click here for the Strategy Test Report) was about 400 pips using the suggested no stop-loss (SL) setting. The position has since made a strong recovery and the system has just closed out that position for a profit. Here is the latest performance report (last update: 1 September 2008).
Thus, what is the right account size to maintain the drawdown for scoring a 100% win-rate as programmed? Is the drawdown going to be a fallback of the system? These are the questions that I have no certain answers for you at present. My next task, probably, will be running more test scenarios using different SL levels to understand the system drawdown level as well as using different settings in live modes.
Note 2: Performance Optimisation
I ran some simple tests - if we use a stop loss level in the region of 400 -500 pips, we should be able to match the system's no SL setup by aiming for consecutive winning trades. Using other amount less than that probably won't cut it. The next set of questions will be - what are the improvements if we increase the take profit target to different levels? I probably leave you to find out for the moment...
Note 3: Different System Advantages
I think I might have judged William's Bogie EA unfairly by drawing up a comparison earlier as Bogie prefers a 100-pip SL on running positions. Meanwhile, the new AutoPilot EA targets a 100% win-rate using its own automated robot without setting SL.
Related posts:
Technical Help (2): Forex AutoPilot EA
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Forex Autopilot Review: Don't Take Them (Robots) Too Seriously !
Note 1: System Drawdown
I've just noticed this. The drawdown on the very last position seen in the first assessment (or simply click here for the Strategy Test Report) was about 400 pips using the suggested no stop-loss (SL) setting. The position has since made a strong recovery and the system has just closed out that position for a profit. Here is the latest performance report (last update: 1 September 2008).
Thus, what is the right account size to maintain the drawdown for scoring a 100% win-rate as programmed? Is the drawdown going to be a fallback of the system? These are the questions that I have no certain answers for you at present. My next task, probably, will be running more test scenarios using different SL levels to understand the system drawdown level as well as using different settings in live modes.
Note 2: Performance Optimisation
I ran some simple tests - if we use a stop loss level in the region of 400 -500 pips, we should be able to match the system's no SL setup by aiming for consecutive winning trades. Using other amount less than that probably won't cut it. The next set of questions will be - what are the improvements if we increase the take profit target to different levels? I probably leave you to find out for the moment...
Note 3: Different System Advantages
I think I might have judged William's Bogie EA unfairly by drawing up a comparison earlier as Bogie prefers a 100-pip SL on running positions. Meanwhile, the new AutoPilot EA targets a 100% win-rate using its own automated robot without setting SL.
Related posts:
Technical Help (2): Forex AutoPilot EA
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Forex Autopilot Review: Don't Take Them (Robots) Too Seriously !
Thursday, February 21, 2008
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Forget the previous 8 EAs. Now your main ForexAutoPilot package should come with the one and only - ForexAutoPilot.ex4, plus the two extra EAs - NFP_Pilot.ex4 and ULTRA_TREND.ex4 - in the bonus package.
Please check out these claims by the developer first.
So, what's its recent performance (Since Jan'08) even the popular Bogie EA was underperforming?
Thus, I quickly performed a backtest from Jan'08 to present and I managed to compile a Strategy Tester Report (and Graph) during this period for your viewing.
Looking at these results alone, this new AutoPilot EA could be a better deal than the original 8 EAs provided.
The forward live testing is now ON. Readers can now check back Here (last update: 1 Oct 2008) for its up-to-date PERFORMANCE.
p.s. The performance report will be updated frequently to let everybody aware of its ongoing performance.
p.s.2 Technical help, i.e. system drawdown and parameters etc. Here and Here
p.s.3. Technical issues, response from program developer Here and Here
p.s.4 Latest monthly performance Here
Please check out these claims by the developer first.
Trading System Description:The following question immediately popped into my mind after receiving this latest ForexAutoPilot upgrade from Andreas (supposedly from Marcus).
Trading system of ForexAutoPilot advisor is based on over 20 modern forex indicators such as Alligator, Fractals, DeMarker, William's Percent Rate. The system detects good trend, confirms it using internal indicators and opens the trades to take maximum profit for you. The system does not use fixed stoploss parameter to prevent getting losing trades. ForexAutoPilot advisor monitors each open trade carefully and closes it if reaching takeprofit limit when the trade is successful. If the trade is loosing ForexAutoPilot advisor closes it using signals of its internal indicators to prevent drawdowns.
Currency and TimeFrame:
ForexAutoPilot advisor is optimized and can work only on EUR/USD pair on 1M (1 minute) timeframe.
BackTest on History
Great results in 2007-2008: 700% of profit in 1 year! Made 74,035 from 10,000 usd!
So, what's its recent performance (Since Jan'08) even the popular Bogie EA was underperforming?
Thus, I quickly performed a backtest from Jan'08 to present and I managed to compile a Strategy Tester Report (and Graph) during this period for your viewing.
Looking at these results alone, this new AutoPilot EA could be a better deal than the original 8 EAs provided.
The forward live testing is now ON. Readers can now check back Here (last update: 1 Oct 2008) for its up-to-date PERFORMANCE.
p.s. The performance report will be updated frequently to let everybody aware of its ongoing performance.
p.s.2 Technical help, i.e. system drawdown and parameters etc. Here and Here
p.s.3. Technical issues, response from program developer Here and Here
p.s.4 Latest monthly performance Here
Wednesday, February 20, 2008
Forex Autopilot Review: Don't Take Them (Robots) Too Seriously !
Below are some important advices which can be found at the member zone after purchasing the Forex Autopilot Package.
After trying out for another hour today (may be still too early to judge?) using Strategy Tester - the BACKTESTING feature of the METATRADER platform, I have some uneasy feelings about those 8 robots (EAs) with fancy names due to their backtested results !
I have HIGHLIGHTED in RED some of the so-called IMPORTANT advices (as seen in the pic. above) in order to alert users NOT to take them too SERIOUSLY !!! They (i.e. EAs, instructions, and advanced ebook) are probably good EDUCATIONAL MATERIALS with SAMPLES for helping users to learn or get used to the concept of auto-trading in Forex market using expert advisor program.
In my opinion, we probably WON'T understand how they really work or which market conditions they excel, unless undertaking HUGE TASK to find out, i.e. many man hours to observe on our own, or may be even better, ask directly for more information from the developers.
The EA in the name of ProfitStream Advisor looks impressive at first glance by generating streams of profits, i.e. booking small and consistent profits as promised. However, users could end up with a large unrealised drawdown in the most unfortunate circumstances, which do happen quite often when dealing with a volatile forex market.
Therefore, I would suggest you to learn the BACKTESTING function first before strapping the EAs onto a demo or real account. Unfortunately, no detailed instructions are given for this purpose in the the instruction PDF -the only missing info in a clear instruction guide. Here is one useful document I found for you on Strategic Tester to get you started.
P.S There is actually another two more robots being thrown as ForexAutopilot EA's bonus ! The NFP (for trading non-farm payroll job report !) and UltraTrend EAs. They have more detailed instructions than that of the 8 EAs combined. I would probably pay more attention to those two EAs for now. Please share your backtesting or any results with me if they happen to be CONSTRUCTIVE !
P.S.2 My FORWARD test results coming soon..
P.S.3 Andreas just informed me (his words) that Marcus Leary plans to introduce new EA this week with stable results instead of his current set of 8 EAs. We got RESPONSIVE actions from the program developer - via the power of blogs ! Stay tune for more updates as we will ride this EA robot-trading learning progress together, thus making sure that our money is well spent.
See also:
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Technical Help: Forex AutoPilot EA
After trying out for another hour today (may be still too early to judge?) using Strategy Tester - the BACKTESTING feature of the METATRADER platform, I have some uneasy feelings about those 8 robots (EAs) with fancy names due to their backtested results !
I have HIGHLIGHTED in RED some of the so-called IMPORTANT advices (as seen in the pic. above) in order to alert users NOT to take them too SERIOUSLY !!! They (i.e. EAs, instructions, and advanced ebook) are probably good EDUCATIONAL MATERIALS with SAMPLES for helping users to learn or get used to the concept of auto-trading in Forex market using expert advisor program.
In my opinion, we probably WON'T understand how they really work or which market conditions they excel, unless undertaking HUGE TASK to find out, i.e. many man hours to observe on our own, or may be even better, ask directly for more information from the developers.
The EA in the name of ProfitStream Advisor looks impressive at first glance by generating streams of profits, i.e. booking small and consistent profits as promised. However, users could end up with a large unrealised drawdown in the most unfortunate circumstances, which do happen quite often when dealing with a volatile forex market.
Therefore, I would suggest you to learn the BACKTESTING function first before strapping the EAs onto a demo or real account. Unfortunately, no detailed instructions are given for this purpose in the the instruction PDF -the only missing info in a clear instruction guide. Here is one useful document I found for you on Strategic Tester to get you started.
P.S There is actually another two more robots being thrown as ForexAutopilot EA's bonus ! The NFP (for trading non-farm payroll job report !) and UltraTrend EAs. They have more detailed instructions than that of the 8 EAs combined. I would probably pay more attention to those two EAs for now. Please share your backtesting or any results with me if they happen to be CONSTRUCTIVE !
P.S.2 My FORWARD test results coming soon..
P.S.3 Andreas just informed me (his words) that Marcus Leary plans to introduce new EA this week with stable results instead of his current set of 8 EAs. We got RESPONSIVE actions from the program developer - via the power of blogs ! Stay tune for more updates as we will ride this EA robot-trading learning progress together, thus making sure that our money is well spent.
See also:
Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
Technical Help: Forex AutoPilot EA
Sunday, February 17, 2008
Forex Killer Found Forex Autopilot EA
I received this e-mail today from Forex Killer software developer, Andreas Kichberger (or Kirchberger, typo error in his own name, may be ;O) ? ). I suppose other forex killer software users might as well get this PROMOTION newsletter as you were subscribed for the free 8-day forex killer crash courses.
OK, I got it. They are selling Expert Advisor script for the purpose of AUTOMATIC TRADING in the Metatrader platform. Since I am a KEEN user of expert advisor and I also run my own EAs, I will be live testing this 'recommended' EA myself. It costs me $89.50 (the best offer price) + $15.66 (vat) - own affiliate commission. Our SITE USERS will probably get the first-hand update regarding the forward test results of this Autopilot EA. We will JUDGE its results by then.
From Andreas Kichberger
Subject: ForexKiller found ForexAutopilot
... A close friend of mine and very successful forex trader, Marcus Leary developed AUTOMATIC set and forget meta trader 4 plugins that .. trade your accounts automatically. The whole package consists of 8 robots that can be applied to different trading graphs and literally make you money.. while you sleep.
This software is brand new and I had to encourage him to make it open to the masses. He was very reluctant to give up his "secret" but finally he put it online:
FOREXAUTOPILOT http://www.forexautopilot.net (he really took a little inspiration from forex-killer it seems) but i really do not mind because the software is a MASTERPIECE...
OK, I got it. They are selling Expert Advisor script for the purpose of AUTOMATIC TRADING in the Metatrader platform. Since I am a KEEN user of expert advisor and I also run my own EAs, I will be live testing this 'recommended' EA myself. It costs me $89.50 (the best offer price) + $15.66 (vat) - own affiliate commission. Our SITE USERS will probably get the first-hand update regarding the forward test results of this Autopilot EA. We will JUDGE its results by then.
Forex Trading Strategy Giveaway For New Site Readers
(Originally posted in my forex killer autopilot trading blog)
Hi everyone !I am glad that my Scout-Forex Trading / Forex-Killer Review blog is gaining popularity with more readers worldwide. This trading blog, as usual, is DEDICATED to all forex beginners as well as serious forex killer signal software users who wish to learn to trade forex. In the last few months, I have already disseminated various advanced forex trading tips on how to make the best use out of the signal software. And up-to-date , they are well received amongst readers and users. Moreover, trading results are very encouraging and my latest system is well organised and efficient. My hard work seem to pay off. Below is an overview of my trading approach at present.
First Set of Day Trading Instructions Giveaway
This proven strategy of mine is known as MOMENTUM TRADING which I have perfected for executing my daily SWING positions. The strategy basically involves FINDING STRONG TRENDING moves and also TRADING ON NEWS releases during active hours with high volume. For this trading purpose, I prefer the active London and New York opening hours over other time period. Due to popular request of my current readers, you can now read an overview about this strategy HERE on my main site.
For your extra information: I basically ride a trend and buy on news releases until it exhibits signs of reversal. The method is effective and easy to execute. It can be very rewarding plus it only requires a few minutes of my time. It is basically a 'set and forget' operation. The position will be left to run for A FEW HOURS in order to catch a great move. However, this strategy requires some ESSENTIAL forex knowledge to start with. If you are serious about this strategy and wish to learn more about strong TECHNICAL TRADING setup and forex market, I highly recommend it and you can find all the information you need HERE.
Second Set of Bonus Strategy Instructions Giveaway
After 4 months of USING the software, I am going to give away my additional set of BONUS INSTRUCTIONS. Please take note, for readers who are only interested in trading for about 1hrs - 2hrs a day and at anytime you like, this TECHNICAL trading formula is exactly what you need to keep your trading task to a bare minimum. The advantage of this formula is that it requires LITTLE forex knowledge to begin with and in fact, the formula can be applied to other trading instruments such as stocks, commodities and etc. If executed properly, the end results can be rewarding, as the system imitates how the big players trade.
Please read this TWICE - I believe that this formula of mine is CONSTRUCTIVE and MORE DETAILED than any existing "secret" packages currently being offered out there, so trust me on this. Readers need to be AWARE of any SO-CALLED REVIEW SITES which promote their products/packages with the same repeatable old SALES TRICK.
If you already wish to own a a copy of the software and want to get this trading formula which can be applied to the popular forex killer software, simply order the Forex Killer signal software thru this site and then e-mail me your contact (to avoid you falling for other 'secret' bonuses if I happen to offer it for free). I will send you this bonus trading formula at no cost.
Plus, I am happy to response to your future queries too. When you feel like to learn a bit more about the FULL OPERATION of forex market, I too will be there to provide you all the information you need in order to help you tap into other potential of the Forex Killer signal software. You may want to go thru the rest of this site later and you will quickly know that I am offering you something REAL and CONCRETE.
Thanks for listening. I VALUE you greatly as my site reader.
(Please note that I am not part of the forex killer sales team, and I am just sharing my own forex trading strategies/tips while striving towards my own goals.)
Small Talk (15 Feb, 08)
I made a discretionary mistake in the afternoon session by opening short USD/CAD positions which are basically against the proposed daily market sentiment strategy. I carelessly went against my morning stance and had since noticed that it was certainly not a wise thing to do. Details soon.
Friday, February 15, 2008
How to Cope with Sell-Off & Poorer-than-Expected News Data
(Originally posted in my forex killer autopilot trading blog)
How do you protect yourself from a technical sell-off situation and the latest fundamental news development?On our "members support" sites, we provide you with technical warnings and news alert which might act against your positions during our price monitoring hours - from the opening of London session to the opening of US session.
For the purpose of market coverage in these active hours, Forex Killer signals will be sampled at two fixed hours. The signals provided on member site are generally in tune with our daily market sentiment strategy. Thus, they are usually strong technical trading setups good for position entry.
However, no matter what, we should always prepare ourselves from the unexpected events.
Let's use today's price action as a case study. I've chosen the most volatile carry pair - GBP/JPY and also the most popular major currency pair - GBP/USD as examples.
a) An unexpected fast liquidation of carry trade positions i.e. GBP/JPY selloff.
The forex killer signal software recommends the use of 70-pip as both stop loss and profit target levels for each position opened using the hourly (H1) timeframe. We believe they are fairly reasonable levels which basically give us a reward-to risk ratio of 1 - 1 .
As you can see, we help you keep a close eye on the position for at least 3 running hours. Warning will be flagged once the recommended stop loss level has been breached. In this GBP/JPY case, a running loss of 70 pips or more has been highlighted to warn you in real time. We recommend you to cut your losses by sticking to the forex killer suggested level. This is because you should always expect the unexpected, in this case, massive liquidation (sell-off). We had this scenario this morning as the GBP/JPY moved another 200 pips against the position after the stopped-out level. We will do the same for the purpose of profit taking if the price has moved past the price target.
b) Unfavourable news events i.e. which acted against the underlying sentiment of GBP/USD
Forex killer software does not recommend strongly on its use for news trading. However, we believe that trading economic news event can be very rewarding and exciting. Price usually moves according with the news and we will have a great move if the news are in sync with the underlying market sentiment.
On the member site, we will alert you on the upcoming news releases and also help you analyse the actual numbers and their meanings in real time. This will allow you to make a better trading decision to either exit or lower your stop loss level, if the news has acted AGAINST the underlying market sentiment. As in the GBP/USD case, you will have all the information you need to end the position sooner as a winner (from +5 to +10 pips) rather than let the winner turning into loser (-20 pips or more).
Discretionary Trades Back in Action
Soon after posting my 'small talk' on Wednesday, I was quickly invited back into action. The first set of executed trades were SHORT GBP/USD positions:
1st entry - 1.9694
2nd entry - 1.9696
They were closed this morning at +50 pips and +60 pips each.
There were more discretionary trades being entered this Friday morning. I went:
SHORT AUS/USD
1st entry - 0.9084 (new 50-pip target)
2nd entry - 0.9084 (new 100-pip target)
LONG USD/CHF
1st entry - 1.0947 (new 50-pip target)
2nd entry - 1.0952 (new 100-pip target)
FYI, all positions mentioned aboved were opened according to the latest daily market sentiment reading. Let's see how they unfold later.
1st entry - 1.9694
2nd entry - 1.9696
They were closed this morning at +50 pips and +60 pips each.
There were more discretionary trades being entered this Friday morning. I went:
SHORT AUS/USD
1st entry - 0.9084 (new 50-pip target)
2nd entry - 0.9084 (new 100-pip target)
LONG USD/CHF
1st entry - 1.0947 (new 50-pip target)
2nd entry - 1.0952 (new 100-pip target)
FYI, all positions mentioned aboved were opened according to the latest daily market sentiment reading. Let's see how they unfold later.
Thursday, February 14, 2008
Small Talk (13 Feb, 08)
My own automatic expert advisor trading has been performing well in the last few days. I have no reason to open new trades at my own discretion.
Tuesday, February 12, 2008
Small Talk (11 Feb, 08)
I am glad that our Forex Killer member services got off to a flying start. We had two good signals yielding over 100 pips in less than 2 hours of trading today.
Monday, February 11, 2008
Official Release of Bogie-NeuralNetwork-1
After a dismal performance of Bogie-ATC-2007-1 in January, Mr William has decided that current win/loss ratio mandates the early release of Bogie-NeuralNetwork-1. Trading results since 8 Nov, 2007 are available here. Below is the actual announcement made to all Bogie subscribers for the release of Bogie-NeuralNetwork-1:
Latest post:
Bogie-NeuralNetwork-2 Expert Advisor
I've been concerned over the several loses that this EA had in January. As previously reported, the success of Bogie-ATC2007 EA is its ability to detect daily trends (swings) at a predetermined time of day. A daly time based trend recognition system. And, the fact, that the daily trend detected at StartTime would continue long enough to secure a small profit. It requires that most days, after StartTime, that trading daily news is over and current bullish or bearish trend will continue until next day. In January 2008, there were a steady stream of news releases either just before or soon after StartTime. The EA as-has problem with this current erratic volatile market where there are repeated 100-300 pips daily spike swings.You can now follow up-to-date forward test results of this new EA from 11 Feb, 2008. New subscriber will still receive the Boogie-ATC-2007-1 along with the Bogie-NeuralNetwork-1 installer and new instructions. Site readers are still eligible for 20% discount off the original subscription fees.
Recently, I began testing an Neural Network (NN) indicator to filter trade signals to be more selective on order entry. The results have been very promising. Attached is a .doc file (click here to read) with charts of qualifying tests and difference between EA as-is and with NN filter.
Latest post:
Bogie-NeuralNetwork-2 Expert Advisor
Saturday, February 9, 2008
Day Trading Service @ ScoutForex dot Com [CLOSED]
Objectives
The Day Trading Service is designed for everyone as well as other forex killer software users (software purchase not required) who wish to improve on their day trading results. It is a forex trading service that is dedicated to the following objectives:
Access to Day Trading Strategy, Market Sentiment and Live Signals:
Monthly Silver Scout-Forex Day Trading Service $55
I recommend you to at least take away three months of my trading data and service to understand all the happening, i.e. economic news events, within the forex market and more importantly to get IN TUNE with the day trading approach.
Related post:
Trading Report Sep' 08 (+290 pips)
Trading Report Aug' 08 (+760 pips)
The Day Trading Service is designed for everyone as well as other forex killer software users (software purchase not required) who wish to improve on their day trading results. It is a forex trading service that is dedicated to the following objectives:
- Gauging the underlying technical market sentiment
- Discussing and sharing day trading strategies
- Provide market outlook and trading watchlist
- Provide a continuous learning platform for development of trading skills
- Access to unique "trend exploitation day trading strategy" relevant information
The overview about my day trading approach is available for free to all readers. You may choose to use my service as the primary source of information about my day trading approach, which aims at helping you to practise a proven forex trading method and to make better informed decisions in real-time situation. The service is an effective way to help score great trading results instantly. (FAQ available soon)
What You Get as a Registered User
- Special day trading template for trade entry and live price monitoring
- Stay informed on the US dollar/ Japanese Yen market sentiment on a daily basis (updated at 2300 GMT)
- Receive personal technical bias based on the underlying market sentiment and latest trend on 10 currency pairs (i.e. 5 major pairs & 5 carry trade pairs)
- Receive real-time, selected signal recommendations at fixed hours. They are usually clear-cut technical trading setups good for position entry. (Users may also apply the provided market sentiment data to generate signals at any hours that suit them.)
- Be alerted on economic news releases ahead and their real-time impacts on price movement
- Receive update on signal performance every hour
- Receive also a valuable bonus trading strategy
- For the daily track record, please visit my daytrading blog
Access to Day Trading Strategy, Market Sentiment and Live Signals:
Monthly Silver Scout-Forex Day Trading Service $55
Quarterly Silver Scout-Forex Day Trading Service $150 (Save 10%)
Quarterly Gold Scout-Forex Day Trading Service $270 (Save 10%)
I recommend you to at least take away three months of my trading data and service to understand all the happening, i.e. economic news events, within the forex market and more importantly to get IN TUNE with the day trading approach.
Related post:
Trading Report Sep' 08 (+290 pips)
Trading Report Aug' 08 (+760 pips)
Thursday, February 7, 2008
Time is Right to Invest in Myself (Again)
After many failed attempts to make real money from trading, I have decided it is time again to invest in my new discretionary system. I really hope it can take myself to the next level to become a consistent profitable forex trader.
What prompt me to make such a decision is that the system has been very profitable, even in today's market conditions when the European central bankers took center stage. Let's examine its track record so far:
Today +426 pips
USD/JPY +157 pips
USD/CAD +112 pips
USD/CHF +106 pips
AUS/USD +51 pips
(Trade breakdown as below)
Thus making,
Jan' 08 +998 pips
Feb' 08 +267 pips so far
This new system of mine is quite aggressive in nature, as I will open 2 positions per signal. I also monitor and trade 5 major currency pairs simultaneously, hence up to a maximum of 10 positions can be opened at one time.
1st profit target - 50 pips, 2nd profit target - 100 pips. I will use a mental stop-loss level of 100-pip away from the original entry.
I think I will begin trading with my live fxcm-zulutrade mini account first before gaining confidence with the system.
What prompt me to make such a decision is that the system has been very profitable, even in today's market conditions when the European central bankers took center stage. Let's examine its track record so far:
Today +426 pips
USD/JPY +157 pips
USD/CAD +112 pips
USD/CHF +106 pips
AUS/USD +51 pips
(Trade breakdown as below)
Thus making,
Jan' 08 +998 pips
Feb' 08 +267 pips so far
This new system of mine is quite aggressive in nature, as I will open 2 positions per signal. I also monitor and trade 5 major currency pairs simultaneously, hence up to a maximum of 10 positions can be opened at one time.
1st profit target - 50 pips, 2nd profit target - 100 pips. I will use a mental stop-loss level of 100-pip away from the original entry.
I think I will begin trading with my live fxcm-zulutrade mini account first before gaining confidence with the system.
Monday, February 4, 2008
Discretionary Trades Paying Off
Chart of interest: GBPUSD 5-min chart
Entered 2 x long position at 1.9646
Hit 1st profit target of 1.9696 (+50 pips)
Hit 2nd profit target of 1.9746 (+102 pips)
Zulutrade: Signup a 30-day free demo account to receive signals from top performing signal providers.
Entered 2 x long position at 1.9646
Hit 1st profit target of 1.9696 (+50 pips)
Hit 2nd profit target of 1.9746 (+102 pips)
Zulutrade: Signup a 30-day free demo account to receive signals from top performing signal providers.
Sunday, February 3, 2008
My EA Trade History (Feb' 08)
February 2008
Changes implemented:
(1) Fractional lot sizing based on 2 - 4 % risk per trade of the account free margin level
* Manual intervention
This Month
Trade Breakdown
USD/JPY +133 pips (2W)
GBP/USD +31 pips (2W)
AUS/USD +22 pips (2W)
USD/CHF -38 pips (2W 2L)
USD/CAD -37 pips (1W 1L)
----------------------------------------------
Since Start
----------------------------------------------
Daily Results
Day 52: 12 Trades (9W 3L) +111 pips, +$17.25, +1.41%
View January 2008 Trade History part 2
View January 2008 Trade History part 1
View December 2007 Trade History
View November 2007 Trade History
Changes implemented:
(1) Fractional lot sizing based on 2 - 4 % risk per trade of the account free margin level
| Date/Day | Currency/Trades | B/S | 1st.t | 2nd.t | stop.l | P/L |
| 2008-02-01 (52) | GBP/USD (2W) | B | 21* | 10 | 0 | $9.46 |
| USD/CHF (2W 2L) | S | 32* | 10 | -80 | -$24.65 | |
| AUS/USD (2W) | B | 22 | 0 | 0 | $6.6 | |
| USD/JPY (2W) | S | 61* | 72* | 0 | $36.92 | |
| USD/CAD (1W 1L) | S | 3* | 0 | -40 | -$11.08 | |
This Month
| Pips Total | P/L Total | % Gain |
| 111 | $17.25 | 1.41% |
Trade Breakdown
USD/JPY +133 pips (2W)
GBP/USD +31 pips (2W)
AUS/USD +22 pips (2W)
USD/CHF -38 pips (2W 2L)
USD/CAD -37 pips (1W 1L)
----------------------------------------------
Since Start
| Pips Total | P/L Total | % Gain |
| --- | $207.94 | 20.15% |
----------------------------------------------
Daily Results
Day 52: 12 Trades (9W 3L) +111 pips, +$17.25, +1.41%
View January 2008 Trade History part 2
View January 2008 Trade History part 1
View December 2007 Trade History
View November 2007 Trade History
Saturday, February 2, 2008
Jan' 08 Blog Income and Trading Report
It’s a new month and that means it's time for the first blog income report for the year 2008. Back in October 2007, I decided to run a little experiment to see if money can be made from blogging. Before that time, ScoutForex dot Com was simply a personal trading blog that didn’t make any money from blogging.
January 2008 will go down as the month to break above the $1,000 mark. Here's the income breakdown:
Total Blog Income for January 2008: $1,019.99
Improved Trading Performance
If you’ve been reading ScoutForex dot Com, you will also notice that I do a lot of forex trading myself. Here is a full account of my daily trading routine and you will notice that I run several trading strategies at the same time. Never put all eggs in one basket.
Last month also sees a significant improvement on my trading performance as I continue to learn new trading knowledge from my blogging routine. Here are the positive outcomes and hopefully they can set the tone for the rest the year:
Trading Results for January 2008
January 2008 will go down as the month to break above the $1,000 mark. Here's the income breakdown:
Total Blog Income for January 2008: $1,019.99
- Text Link Ads: $40.12
- Google Adsense: $75.68
- Banner Ad Sales: $40
- Zulutrade Rebates: $108.88
- Affiliate Commissions: $755.31
Improved Trading Performance
If you’ve been reading ScoutForex dot Com, you will also notice that I do a lot of forex trading myself. Here is a full account of my daily trading routine and you will notice that I run several trading strategies at the same time. Never put all eggs in one basket.
Last month also sees a significant improvement on my trading performance as I continue to learn new trading knowledge from my blogging routine. Here are the positive outcomes and hopefully they can set the tone for the rest the year:
Trading Results for January 2008
- Semi-Mechanical EA System: +34.6%
- Improved Day Trading System: +155 pips
- New! Discretionary System: +998 pips (currently in demo mode)
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