Forex AutoCash Robot Trades 9 Years With No Losers - Let's Investigate

It's a bit far fetched don't you think? The Forex Autocash Robot by John Burroughs is not released yet but there are already a pre-release video and a written document boasting the following claim:

The Most Advanced Forex Robot In Existence... The Perfect Automatic Trading Solution... A World Record Of Almost 9 Years With NO Losing Trades (Up To This Very Second!)

How does the robot works? According to John:

The Key To Raking Thousands Of Dollars Per Day Trading Forex Is Accurately Catching Small Price Swings… Day In And Day Out...Each of those small swings offered a profit potential... a HUGE profit potential. We’re talking about $300, $400, $500 or more per swing.

I do have some other queries about the system. Does the forex autocash robot actually use scalping as its trading strategy to lock in fast profits? If that's the case, what is the minimum bankroll needed to start and what's the maximum drawdown during the 9 year period? I'm just too curious to find out. I have to start digging later since you won't find some straight answers from the website.


p.s. Latest update: Forex AutoCash Robot Trades 9 Years With No Losers part2 - Review and Answers

Newstrader EA Trading Review - A Tight Trading Game with 30-pip Stop Loss and the Biggest Winner Up-to-date (10)

The Newstrader system had been caught out by a larger-than-expected "high-low" swing in today's news trading action. Let's revisit the USD/CAD market after the releases of GDP and RMPI figures. The Newstrader employed a tight stop-loss (SL) level of 30 pips soon after its entry. As shown below, the position was stopped out in today's market conditions.

Long USD/CAD for -30 & -30 pips; SL = 30

I wish I were there just to put on an extra few "emergency pips", in order to hold out this type of "fake" swing. I should have profited 100 pips if SL =35 pips was set (see results below - this would provide a rather different scenario with good return instead). The price was seen rising further after the final exit.

Long USD/CAD for +25 & 74 pips; SL = 35

Despite having a strong benchmark results with SL = 30, and may be for the sake of peace of mind, perhaps it's a good idea for myself to throw in a few extra pips in my future trades.

On the other hand, the Newstrader EA had produced the biggest winner up-to-date with the latest entry in the GBP/USD market for today's US Consumer Confidence data. The program managed to lock in a total of 145 pips in less than 15 minutes. A sweet revenge over early system setback.

Short GBP/USD for +25 & 120 pips; SL = 30

100-pip Trading Setups that Everyone Loves to Score With

Below are two MT4 forex charts that show our entries in today's EUR/USD and GBP/USD markets using the provided 100-pip EA program.

• Bottom Fishing In US Session and Good Pay-Off Monday
• Find Out More about ScoutForex Day Trading Room
  

Earlier, we saw the Euro and Pound plunging heavily in the European Session. We were able to take advantage of the several strong technical setups which were present during the US trading session. As a result, we bought both the Euro and Pound and scored well with those two setups (see results below).

Long EUR/USD @ 1.4372 (Final results +137 pips)

Long GBP/USD @ 1.8044 (Final results +78 pips)

I also received comments from other 100-pip system users about today's market action. DTS subscriber, Alan has recently decided to add and run both the 100-pip and Newstrader EA programs as part of his new day trading routine. Let's hear from his perspective.

Alan & Tracey: "Used the 100-pip EA today for the first time and we are still smiling. What a great system. We did start off with a scare though - we stuffed up our lot size and then panicked when it initially went against us. Of course the inevitable, the second we closed out it turned in our favour. Never mind, even with our mess up we still finished with a fantastic result - plus we've learnt the hard way how to enter the lot size (we thought the figured entered would be divided between the 2 trades)."

Missed 100-pip Opportunities that I Did Not Miss

A look back at today's trading action. I had been following 5-6 markets in the Europe Session. I ran my 100-pip ea program as usual but it didn't get a chance to even enter one position, due to the "out-of-tune" market conditions seen in the Europe Session.

This kind of price action was rare and fascinating as I could clearly see the market prices were in the oversold/overbought region. This simply meant that we could potentially have some high probability winning setups if the conditions lined up "in-tune" in the later US Session.

I normally moved on from one market to another. There were two remaining setups that could be exploited for the US session: AUD/USD and AUD/JPY. (I had no other markets to follow at that time).

As the price rebounded after the start of the US trading session, the 100-pip system had no trouble spotting the entries and performing its routine this time. I was proved right and I got some really good pay-off. I'll be doing the same thing next time.

Here are the charts:-

Long AUD/JPY @ + 40 & 89 pips

Long AUD/USD @ +40 & 2 pips

Weaker-than-expected US New Home Sales & +31 Fast Pips (9)

US New Home Sales came in at 460,000, which is weaker than expected. The price action was fast and forceful, but moving against the news. The Newstrader program got "IN" for the very last piece of the selling action in the GBP/USD markert. +25 pips fast target and +6 pips slow target.


If you are looking for a little more information about the past news trades, go here.

Some Day Trading Facts @ ScoutForex DTS

I usually don't keep count of the P/L figures till the end of the month. Since it is the end of summer period, here are a few encouraging facts to cheer about, and to kick start our Autumn trading:

If you have followed all the major pairs setups consistently at the start of my trading sessions, you should have banked over 200 pips of profits so far this month and over 1,000 pips since 1 August.

If you have followed all the yen-crosses setups consistently at the start of my trading sessions, you should have banked over 500 pips of profits so far this month and over 900 pips since 1 August - simply using a low drawdown approach.

Different News Events, Similar News Trading Actions (8)

Today (22 September):
News event: CAD Retail Sales; Long & Short USD/CAD - Results: +2 & 2 & 25 & 51 pips


On 16 September:
News event: US CPI & TIC Net Long Transactions; Long & Short GBP/USD - Results: +1 & 1 & 25 & 28 pips

Fortunately, we were able to make more profits this time round (i.e. +80 pips vs. +55 pips).

You can now signup for the NewsTrader EA Program and prepare for the upcoming news events scheduled for this week:

Tuesday - CAD CPI; Wednesday - GBP CBI Realised Sales, US Existing Home Sales; Thursday - US Durable Goods, US New Home Sales; Friday - GBP House Price Index (Nationwide) US Final GDP, US Revised UoM Consumer Sentiment

From HectorTrader: Raising Eye Brow ... [EUR/USD Monthly Chart]

This post was brought to you by Hector of 3SMA Forex Trading Course.

• Analysing the 3SMA Trend Following System Trade Entries

As usually, I like to post whenever I find anything on my charts that might raise my eyebrow. Well, there’s something on EUR/USD that I have been following for a few days, I took some notes on my Forex notepad and I figured I could share them with you all.


Please take a look at the EUR/USD monthly chart here below. As we all know, this pair has plummeted through the floor since mid-July, all the way from 1.60 to 1.38 where it’s recently bottomed few days ago. It seems like that 1.38 area is quite a key-level from a technical point of view because we have three elements of support stacking up together: a long-term trendline, the 50% Fibonacci retracement and the previous major swing high. So, all in all, we have a bunch of elements of support around that area that might hold price above.



But what’s truly interesting is that price is indeed reacting to that heavy support already. In fact, EUR/USD has already bounced 500 pips and it’s currently sitting at 1.44. Moreover, the monthly candle for September is shaping up as a massive bullish hammer which is usually regarded by traders as a bullish reversal signal.

So, what am I getting down to? well, I believe that EUR/USD has reached a decision-taking junction in the long-term charts that might dictate this pair’s overall behavior for the following months: if by the end of September the monthly candle does finally close as a bullish hammer, many traders will be in the mood to begin searching for long positions and EUR/USD might begin to climb to new heights. In the other hand, if EUR/USD fails to respect that 1.38 support area and dives through it, I am sure many stoploss orders will get triggered and it’s free fall from there until the next support area at 1.33.

A word of caution though ==> I am sure you folks are aware of the current tumultuous times we’re going through in the global financial markets right now: Lehman Brothers going belly up, AIG being rescued by Uncle Sam in the last minute, England’s Halifax bank running for the hills, Madonna releasing a new album, etc… Quite frankly, no-one knows what’s going on right now and no-one knows whether the whole financial status will blow up in our noses. Be VERY careful if you’re actively trading because it’s getting very ugly out there!

-HECTOR-

Previous postings:
From HectorTrader: EUR/US...High-Probability Forex Trade (Aug 12, 2008)

Day Trading Report on the Official Fed Bank-Bailout Friday

Despite all the "drama" that had unfolded early today, it was extremely important to keep the discipline and stick to the trading plan.

• Stocks Jump in U.S., Worldwide on Bank-Bailout Measures, Short-Sale Curbs
• Toxic-debt Plan, Short-selling Curbs Lift Markets

Nonetheless, I had an extraordinary day in the forex market. And undeniably, it had been a tough trading week. I assumed everyone felt the same about the market due to current circumstances. But I do enjoy these trading challenges. Our day trading results on Friday are as follows.

The major-pair system made 2 wins and 2 losses. The results ended up +140 pips for the day !

Meanwhile the 100-pip ea system made 1 win and 1 loss so far. The ea results ended up +20 pips for the day !

Europe Session
No. of signal recommendations: 5
End-of-session results:
Majors: GBP/USD (-70 pips SL) and USD/JPY (-40 pip)
Crosses: GBP/JPY (+30 pips), AUD/JPY (0 pip) and CHF/JPY (0 pip)

US Session
No. of signal recommendations: 3
End-of-session results:
Majors: EUR/USD (+155 pips) and USD/CHF (+95 pips)
Crosses: EUR/JPY (-70 pips SL )

100-pip System
No. of dynamic entries: 5
Potential profits:
GBP/JPY, AUD/JPY, USD/JPY
EUR/USD +100 (target hit!)
USD/CHF +100 (target hit!)

100-pip EA system
No. of auto-entries: 2
EUR/USD +40 & 100 pips (target hit !)
AUD/JPY out

Related:
Day Trading Service: Trading Report Aug' 08 (+760 pips)

New Aussie Pairs Are Working for Us So Far

Europe Session
No. of signal recommendations: 2
End-of-session results:
Crosses: GBP/JPY (+110 pips)
Aussies: AUD/EUR (+5 pips)

US Session
No. of signal recommendations: 1
End-of-session results:
Crosses: EUR/JPY (+35 pips)

100-pip System
No. of auto-entries: 3
Potential profits:
GBP/JPY out
EUR/JPY +40 & 96
AUD/EUR +40 & 3 new demo pair
Also AUD/CHF +40 & 84 new demo pair (yesterday)

The first signal alerts found on the member site were instant winners. They had almost become my best calls for this whole week as we were able to sell near the top. The GBP/JPY trade fetched over 100 pips at the end of first trading session, and the EUR/JPY fetched another 30 pips in the later US session.

Despite all that, the 100-pip ea suffered a less fortunate result with the GBP/JPY pair due to the current price volatility in the market, as the system was not designed to withstand wild/crazy price swing caused by the current financial turmoil...

Luckily, the results are looking up again when we had other less volatile pairs to work with. I have to admit the new Aussie pairs are my saviour this week !

New Markets, New Table, Same 100-pip Trend Exploitation Approach

I have been checking the Australian Dollar markets for some time. Just recently, I have developed another market sentiment table for it. The latest development allows us to exploit new trading opportunities in the following exotic markets such as AUD/EUR, AUD/CHF, AUD/CAD and AUD/NZD.

The new additions also imply that we are going to increase our tradable currency pairs from 10 to 14. And we are still pursuing the same, already well-rehearsed day trading approach plus getting help from the 100-pip ea program.

Let's check out one trading example:- Today was the first day I put the AUD system into real action! I had my first signal in the AUD/CHF market based on the newly-developed sentiment table. The 100-pip EA has helped me setup two shorts at 0.8899 and later exited both trades at 0.8859 and 0.8815 for +40 and + 84 pips respectively, perhaps more than I asked for.

Short @ AUD/CHF market on Sept 17

Making Pips via NewsTrader EA Program

I am still excited about the prospect of making profits via the Newstrader EA program whenever there is an impeding forex news event!

For those who are still not familiar with my news trading methodology, here is another brief overview. Basically, this is all we need to do:

1) Set the server time to run the Newstrader EA program
2) Obtain the latest variable news setting - iNews parameter - 10 minutes before the scheduled start of a news trading session
3) Run the program and forget

Here is the main news trading event this morning:

Short GBP/USD at 1.7862 - News event: CPI; Results: +25 & 15 pips


Other potential winnings today:

Short EUR/USD at 1.4186 - News event: CPI; Results: +13 & 12 pips


Upcoming news event: Tuesday: US CPI, TIC Net Long Transactions; Wednesday: GBP Claimant Count Change, US Building Permits

(More charts to follow...)

Short GBP/USD at 1.7902- News event: CPI; Results: +1 & 1 pips; Long GBP/USD at 1.7839 - News event: TIC Net Long Transactions; Results: +25 +28 pips; Setting: Trailing Stop: 20 pips

Safe Trading with 100-pip EA Program

Last Friday, the 100-pip EA system entered its last positions of the week with the major pairs in the GBP/USD market. The EA entry prices that we picked up on different MT4 trading platforms are as follows:

Alpari Short @ 1.7637
Interbank Short @ 1.7682

As you can see, there was a huge price discrepancy between the two entry prices. My two positions were filled by Alpari at a poor timing interval, and consequently they had incurred a maximum loss of 60 pips. Interbank results were actually fairing much better. Both of the positions had recorded a combined loss of only minus 20 pips (i.e. 40 & -60 pips), as we were given a chance to lock in a fast profit of 40 pips within the first 10 minutes of price entry.

Nonetheless, their final exit prices were at lows 1.7697 and 1.7742 respectively. Since then, the GBP/USD continued to rally another 400 pips above the 1.8100 level within a matter of hours and into the opening on Sunday. Read why "the US Dollar tumbled and how Lehman woes shift view on Fed rates".

The latest technical data (as of Sunday, Sept 14) has informed me that the US dollar is finally at a crossroads. I am thankful that we were able to make lots of good profits since late July based on the daytrading/sentiment approach. We'll continue to monitor the market situations and will therefore remain on the sideline based on the current Neutral stance, i.e. not dealing with any of the major currency pairs, at least for Monday trading.

Making Pips from News Trading (6) - US Trade Balance

It was a quiet week on the economic front. Still, I thought I should give an update here:

The Newstrader EA program had just executed its third news trade for the week in today's US Trade Balance event. My official closed profits were +10 & 11 pips, thus making the system a 100% winning record for the week, and 78% winning rate for the month so far. The total accumulated pips for the month so far stand at +230.

Meanwhile, I received another chart from Ordilei which showed my news trading program's entries and exits on the interbankFX platform for today's event. His final results were at +18 & 21 pips, slightly better than I expected.

Short GBP/USD at 1.7520 - News event: US Trade Balance; Results: +21 & 18 pips; Execution server: Interbank FX

My Forex Blog Has Been Graded

Well, given that I had a PhD, though not in the Economics or Finance, should I be proud or what? [Here is the result from the blog readability test that I took.]

But I do think that what I write is readable and not too difficult to understand, if you have some sort of experience in forex trading. The blog grading may be due to the way I post and analyse stuffs. Also don't forget that I am currently running two systematic forex trading systems and proving technical trading support to my subscribers and readers too.

My next goal in 2009 is to bring my services beyond the blogosphere and share my trading experience with wider audience.

More Charts From Day Trading Member: GBP/USD +70 & EUR/JPY +70 Pips

Let me show-off more of your charts, which detailed yesterday's trade setup in the following markets.

1) Short GBP/USD

II) Short EUR/JPY

Thanks Irene for the beautiful charts. Note that the above trades entry were setup manually by Irene based on the forex killer signal alerts provided on the member site. Let's hear what she got to say:

I have followed your trade yesterday, by right its able to hit 100pips but I don't have time to shift my TP ..^o^..

Now, it's really great to know both my non-EA and EA subscribers made profits this week. I would appreciate if you all can continue to give me feedback from time to time, even on the bad occasions, so that I would know what's happening and able to help out on the technical issues.

Chart From Day Trading Member: GBP/USD +40 & 15 pips (Trades That I Missed Out)

I personally didn't get an automatic entry on the Alpari trading platform with the European 100-pip EA Setup this morning. And I assumed that everyone might have missed out too. Apparently, I was wrong !

• ScoutForex Day Trading Room & 100-pip EA Trading Program

Thanks Ordirlei for the above chart, which showed his successful 100-pip trade entry on the Interbank FX platform based on the same setup. Good to know that it wasn't a waste of time and efforts for this morning routine.

Here is another follow-on e-mail discussion from Odirlei regarding his recent experience with other MT4 brokers which you might find useful.

There will be always differences due to data feed. But, if you get enough money, you can trade with Dukascopy and have tighter spreads. They have a proprietary platform where you can translate your EAs to their Java language and trade at the same way that MT4.

There is also ATCBrokers that is trying to bring Hotspot with MT4, but they are working a long time ago and still isn't available. The only issue is to adapt your EA to 6 digits data feed, and here one guy explains how:

6-digit-forex-quotes-and-metatrader-expert-advisors

FXCM claim to be a No Dealing Desk and is trying to release MT4 too, but some people don't like them, I have no opinion.

Also, FXDD release this week a so called MTXtreme, that seems to be a ECN with MT4 too. They claim spreads low as 0 and charge commission per trade. 10K minimum account and 1 lot minimum trade.

I think competitions between brokers will make a lot of them go to ECN business switching from MT4...

Zulutrade: Hidalgo FX Capital

Hidalgo FX Capital

We have been trading the FOREX market since 2005, successfully making 60-100 pips daily. Currently managing private accounts from some wealthy investors and now providing the same signals we use to our private clients via ZuluTrade.com, so you can benefit from our profitable signals without having to be a private client with us and without having to invest $25,000 to open a managed account with us. Specialized in EUR/USD, USD/CHF, EUR/JPY, GBP/USD and AUD/USD. We trade the Asia, London and NY sessions. Our strategies are a blend of fundamentals and technical analysis. 98% of our trades are winners. We only open a maxium of 5 positions at the same time, 1 for each pair(EUR/USD, USD/CHF, EUR/JPY, GBP/USD, AUD/USD), reserve 5 lots for us so you can profit from all of our trades. Subscribe via a demo account or live account.

It's good to see another good trading system on the move, making the most out of the current market situations.

Double 100-pip Winners

We received our 2nd the 3rd 100-pips signals for the month. Both did very well today, i.e. AUD/USD (+40 & 100 pips) and AUD/JPY (+40 & 73 pips). Making it 3 out 3 and a total of +309 pips from three different markets !

Making Pips from News Trading (5) - US Non-Farm Payrolls

The Newstrader EA performance has been updated. Btw, today was the US Non-farm Payrolls day which saw a wild price swing action soon after the number was released.

Therefore, it was a good opportunity for us to check each other trading server for any differences in terms of data feed, execution time, or any kind of wild spread and stop hunting behaviour.

The results for trading the NFP news event that I received so far are as follows:

Market/ Direction: GBP/USD (Long)

Alpari server: +25 & 16 pips

Interbank FX: +25 & 7 pips

No abnormal server activity has been reported, which is a good sign for our ea trading method.

Upcoming news trading events at ScoutForex News Trading Room:

Monday - GBP PPI Input, CAD Building Permit; Tuesday - AUD Retail Sales & Home Loans, GBP Manufacturing Production, CAD Housing Starts; Wednesday - GBP Trade Balance; Thursday - AUD Employment Change, CAD Trade Balance, US Trade Balance; Friday - US Retail Sales, PPI and Consumer Sentiment

Making Pips from News Trading (4) - US ISM PMI

I) Short GBP/USD - News event: US ISM Non-Manufacturing PMI; Results: +25 & 20 pips


OMG ! We just missed out on a HUGE downside move (i.e. of more than 100 pips!). I have always used a conservative trailing stop level for the 2nd position. Thus, this time round, I only managed to squeeze an extra 20 pips on top of the first targeted 25 pips. Some did better than me, with +36 pips on the 2nd position.

Anyway, I am going to make it into a flexible strategy for the 2nd position. Soon, you can either use my default level, set your own desired level or even make it into a risk-free trade with predetermined target level.

A profit is always a profit. The news trading results for this month so far currently stands at +149 pips from a total of 4 executed news trades. To find out how to trade my news alerts via EA program, simply visit my News Trading Room for more info.

Upcoming news events:
Friday - CAD Employment Change & Ivey PMI, US Non-farm Payrolls (NFP) Job report

Previous postings:
Making Pips from News Trading - CHF (Swiss) CPI (Sept 2, 08)
Making Pips from News Trading - CAD GDP & US Chicago PMI (Aug 29, 08)

Release of Forex Autopilot New Version

New ForexAutopilot version is the latest released updates from Forexautopilot CEO Marcus B. Leary and his development team.

• What Happened to Forex Autopilot in August?
• What Happened to Forex Autopilot in Late April?
• Forex AutoPilot Review part 2: This Could Be The Real Deal ?!
  

According to Marcus, the new forexautopilot boosts more effectiveness, eliminates its greatest weakness during the bearish-oriented market cycle and works exceptionally well now in both market directions. The new FAP system will not have any problems trading the downtrend like 2005 and the current market situations in 2008.

The latest changes include:

* New optimized algorithm to decrease the possible drawdowns and increase the profits
* Global MA indicator trend control feature. Now FAP works great for both bullish and bearish trends!
* Adjustable times. You can now set the exact time you want FAP to start and end trading!

Members are asked to redownload the new FAP robot from the membership page asap.

I hope to see it in real action soon and will try to compare the ea performance for both versions.

Action Packed News Trading Activities for Tomorrow, Sept 4

Also coming up this Friday, do not forget the releases of US Non-farm Payrolls (NFP) job report as well as the CAD employment change report.

Click here to learn more about ScoutForex News Trading Service

Making Pips From News Trading (3): CHF (Swiss) CPI

The News Trading Program executed its first news trade for the month in the USD/CHF market this morning. The Swiss CPI reading was released lower than expected this time round.


We successfully captured our first target +25 pips, but unfortunately due to the larger-than-expected price retracement, the 2nd position was out only at +13 pips. The price had rebounded strongly soon after the program's exits. :( unlucky....

Note that the the currency markets are currently in a chaos mode, as the unwinding of carry trades intensifies and the US dollar continues to surge ahead. Furthermore, this week will also see the releases of several interest rate announcements, the European Central Bank press conference and US Non-farm Payrolls (NFP) job report.

I will be covering all the above major news trading events as part of the news trading service. This could be the most important and exciting week in the forex market when comes to trading the forex news events. Stay tune for more updates.

Previous posting:
Making Pips from News Trading - CAD GDP & US Chicago PMI (Fri, Aug 29)