Making the Most Out of Newstrader EA - GBP/USD

It's the end of October. One of the highlight during this month was definitely trading the GBP/USD market with the Newstrader EA program.

Using the newstrader setup, the automated program entered a total of 18 times in the GBP/USD market, trading a wide range of economic news releases, from ISM to GDP data, from MPC meeting minutes to FOMC interest rate statement, and etc.

14 out of 18 trades were winners, giving us a high win-rate of 78% and +386 pips.

Thus, I'm pleased with the results and am looking forward to start over again in a new trading month.

How does my newstrading program work? if you are interested in participating, simply click here or here to find out more about the news trading subscription.

London Open Breakout System - Day 1

I've been looking for a new leading indicator for my London Open Breakout System (LOBS). Surprisingly, the "forex killer" signals have been working well for this system. The main trading idea is for me to get involved only when the markets are in overbought or oversold territory, i.e. looking for some breakout actions which can lead to a quick bounce in price during the active London opening hours.

• Early London Workout System: Can I Follow My Charts?

I should be able to follow the system quite easily - as I can readily auto-trade this new system with my 100-pip program using the generated forex killer signals. At present, I am suggesting trading only the Euro markets (e.g. EUR/USD and EUR/JPY).

Here is the results on day 1:

Long EUR/USD 1.2742 stop at 1.2682 - Profits: +40 & 18 pips

Long EUR/JPY 123.62 stop at 123.02 - Profits: for +40 & 100 pips

Cumulative Results +198 Pips

I'll be proving additional detailed info about this system to my existing daytrading service subscribers soon. First, let's me start tracking the LOBS performance from now on, following the footstep of the well-established 100-pip and newstrading programs.

Expert Advisor Journal 30 October

I ran and entered with both the 100-pip program and newstrader program today. I was pleased with all three winning trades today. The entry levels provided below were executed by the Alpari UK live account server.

100-pip trade 1 (Europe Session)
Short EUR/JPY
Entry: 129.72 & 129.71
Exit: 129.31 & 129.18
Pips: +40 & 53

News trade 2 (News event: US Advanced GDP)
Short GBP/USD
Entry: 1.6484 & 1.6485
Exit: 1.6462 & 1.6472
Pips: +22 & 13

100-pip trade 3 (US Session)
Short AUD/JPY
Entry: 66.77 & 66.80
Exit: 66.40 & 66.03
Pips: +37 & 73

Total daily pips: +238 pips

Daytrading System Rebounded with Reasonable Gains

Yesterday, the daytrading system had a "hiccup" (Out of Rhythm and a System"Hiccup"). Many long-time ScoutForex readers may already know that I am a big fan of mechanical systems and am currently practising a fixed daytrading routine day in day out:

• Learn to Day Trade the Forex Market Using Automation

As the trading resumed today, the system immediately yielded good payout in the early trading session.

Europe Session
No. of signal recommendations: 3
All major pairs results: no trade
All yen-crosses results: +65 pips (up to a max +550 pips!)

100-pip System
No. of dynamic entries: 3
Potential profits:
CHF/JPY +40 pips (minimum target hit!)
EUR/JPY +100 pips (maximum target hit!)
GBP/JPY +100 pips (maximum target hit!)

100-pip EA
No. of auto-entries: 1

100-pip System Springs Back to Life with Winners

It had been a few days since we last entered with the 100-pip trade setups:

• Two Profitable 100-pip Trades on Monday (Oct 20, 2008)
  

The 100-pip system finally came back to life in today's markets. The immediate system winners were with the EUR/JPY positions.

Short EUR/JPY @ 118.05 for+40 & 6 pips

Meanwhile, the daytrading system was unfortunate to miss the USD/CAD signal. It would be nice for the 100-pip program to pick up the two potential winners.

Long USD/CAD @ 1.2870 for+40 & 77 pips (potential setup!)

Sterling Pound: 0 Newstrader EA: 3; UK Heading for Recession

Today saw the release of the all-important GDP data and the sterling pound market had been seen falling since the start of the Asian session prior to the news releases.

• U.K. GDP Shrinks, First Recession Since 1991 Looms
• Data confirm UK on brink of recession

We entered with the Newstrader EA program for the third time this week in the GBP/USD (cable) market, just minutes before the release of GDP data. It successfully produced another two winners with today's news settings, with the final results at +113 pips.

News event: GBP Prelim GDP
Short GBP/USD @ 1.5748 for +25 & 88 pips

My two cents: Forex markets have been wild and volatile lately. It's indeed scary to enter and trade these markets at time. But with a flexible and automated trading plan in place, my news trading program seems to find its "edge" to excel from time to time. I am happy that I could share it out here.

News Trading Updates: "Hard-fought" Results in Difficult Circumstances

After having two consecutive system losses (which rarely happened) with Newstrader Program, the EA finally pulled back one positive trade with GBP/USD. I couldn't believe the trade entry level this morning was to be found in the 1.6300+ region.

The market was in heavy sell-off mode which started since yesterday evening. This was another volatile market that I had to deal with - no doubt about that! Bear in mind that I was using a conservative strategy which encouraged a minimal drawdown in the first place.

I couldn't believe I was under such immense pressure watching the price ticks after the release of MPC meeting minutes. With the EA in operation, I should be embracing a care-free attitude towards ea trading and accepting all end results positively. But I failed to do that on a consistent basis. Nonetheless, I was relieved to get some positive results in the end.

• British Pound At Lowest Levels Since 2003, BoE Voted 9-0 For Rate Cut, King Confirms Recession

News event: GBP MPC Meeting Minutes
Long GBP/USD @ 1.6392 for +25 & 39 pips

Two Profitable 100-pip Trades on Monday

A great start to this week trading. Two trades were completed by the 100-pip EA Program (available to ScoutForex DTS subscribers) in today's early London session. Both were profitable trades with a combined + 193 pips. My trading account was up by +13.2%.

• Fired Up Monday ! 9 signals and all winners in one session

Short EUR/USD @ 1.3476 for +40 & 39 pips

Short EUR/JPY @ 137.55 for +40 & 74 pips

News Trading: AUD/USD PPI Winners

The PPI news came out much higher than expected: 2.0% vs. 0.9%

The Newstrader EA had just made the first winning trade of the week by opening two long positions at 0.6955 for +25 & 7 pips.

The upcoming news events to be traded here at Scoutforex this weeks are as follows:

Tuesday - CAD Interest Rate Announcement; Wednesday - AUD CPI, GBP MPC Meeting Minutes, CAD Core Retail Sales; Thursday - GBP Retail Sales, Friday - GBP Prelim GDP, CAD Core CPI and US Existing Home Sales.

Market Club Technology Appeals to Many of You

Market Club's system has been received well especially in the last two months and many of you have taken on board the trade triagle method.

There's no doubt about it, these are volatile times. Here's a list of recent videos which explain on how exactly to apply and make money consistently with the trade triangle method:

>> Gold, it's a game changer
>> Crude oil, it's not over 'til it's over
>> Dollar index, another video lesson
>> Sad day for Apple

100-pip EA Trading Review: 7 out 10 positive trades, 210 pips this week

Last trade of the week - the 100-pip system took an entry in the GBP/USD market during today's live trading session. The same trade setup made another 57 pips under extremely fast market conditions at the London opening. No trade was entered in the later sessions.

Despite experiencing a volatile week in the currency market, the 100-pip system was able to produce 7 winners out of 10 trades, giving us a total of +210 pips. The latest results has been added to the system performance page.

All ScoutForex readers are invited to join my forex daytrading group any time and let's build confidence, generate a sense of control and make consistent monthly gains together with ScoutForex DTS.

Making Forex Pips Out of Dow Jones Extreme Swings

The Dow Jones Industrial Index had erased a whopping minus 400 points at the opening and was finally ended in a triple-digit gain of 400 points. A massive 800 points swing intraday.

I didn't follow stock charts these days. But as a forex trader, I did pay attention to yen-crosses / carry trades markets. During this financial turmoil, high yield currencies such as GBP/JPY, AUD/JPY, AUD/USD, NZD/USD, etc are showing a good price correlation with the movement of stock market indices.

When the Dow Jones was hovering near the breakeven level midday, I made my first two discretionary trades in the yen-crosses markets. Promptly took my profits after the Dow's first 100-point breakout run. I then reversed my positions after Dow hit 200 plus points. Exited immediately with reasonable profits for the second time. I decided to stop trading after that and were actually out of position during the Dow's final-leg surge to 400-point gains.



Most of the time, almost 90% of my forex trades are executed by my automated trading programs / expert advisors. Today, I made an additional gain of 313 pips manually using my discretionary skills and technical judgement with my forex chart systems.

Free Forex Killer Update version 4.12

(First posted here on daytrading blog)

I received another email regarding the forex killer software upgrade to version 4.12. from version 3.32.

Some of the new forex killer software features:

- New advanced algorithms adjusted to work great in "crazy" market conditions
- New trader tools: "Moving Average" module
- Professional easy-to-use installer
- Updated user guide

The updates are entirely free of charge. As promised, Andreas has continued to perform the task of fine-tuning and refining his software algorithm.

To get the new updated version, simply visit to your member zone's url or attach your clickbank receipt and mail to the forex killer support for a download link.

Right Timing with Many Positive 100-pip Trades Tuesday

Today was the day I made a killing on the forex market. Here is my tradelist:


My account balance was up a whopping 22%. I liked what I see and didn't even wait for the 100-pip ea to close the remaining half-size position. At the end, I could have made more profits but just didn't bother any more.

100-pip EA system
No. of auto-entries: 3
EUR/USD +100 pips (maximum target hit!)
USD/CHF +40 pips (minimum target hit!)
EUR/JPY +100 pips (maximum target hit!)

US Session
No. of signal alerts: 5
Major pairs results: EUR/USD (+45 pips), USD/CHF (+45 pips) & USD/CAD (-70 pips)
Yen-crosses results: EUR/JPY (+65 pips) & CHF/JPY (+75 pips)

Making Pips from GBP PPI Numbers & Bank Bail-out News

First news trade of the week had been entered this morning:

• Better than expected GBP PPI Input number -1.2 actual vs. -1.5 forecast
• UK banks' £37bn bail-out unveiled

Long GBP/USD @ 1.7194 @ +25 & 7 pips

All results begin to add up for this month. The system win-rate has just increased to 76.4%.

Update: It was not too surprised to see the GBP/USD pair to carry forward the positive momentum from today's good news to hit an intraday of 1.7441 soon after our exits.

13 Oct: Long GBP/USD after PPI releases

Finding Opportunities in Volatile Markets with NewsTrader EA & 3 Winners Out of 3 Events

Three positive results from three different news events in one day - I was one happy news trader in today's tough market conditions. The Newstrader EA program seemed to help and pick up all the right trades at the right time, yielding a total of 97 pips. The EA charts below show the breakdown of trades.

We'll be staying in touch with the following news trading opportunities next week:

Monday - CHF PPI, GBP PPI; Tuesday - GBP CPI; Wednesday - GBP Claimant Count Change, EUR CPI, US Core Retail Sales & PPI; Thursday - CHF Retail Sales, US Core CPI, TIC Long-term Purchases & Phil Fed Index ; Friday - US Building Permits & Prelim Consumer Sentiment

News event 1: US Trade Balance
Long GBP/USD @ 1.7071 for +25 & 5 pips

News event 2: CAD Trade Balance
Long USD/CAD@ 1.1646 for +25 & 7 pips

News event 3: CAD Employment Change
Short USD/CAD@ 1.1588 for +25 & 10 pips

Back to 100-pip Winning Way After Coordinated Rate Cuts by Central Bankers

I had not experienced anything like yesterday before. Markets were volatile and mostly in oscillating mode as hedge funds and investors were busy digesting the implication of coordinated rate-cuts by the central banks and doing many other things seemingly to increase volatility of the markets. I knew that it would be difficult for the 100-pip system to make money while the market movements were kind of wild and out of ordinary.

Anyhow, I resumed trading as normal today and immediately received a good setup from the program:

100-pip EA system
No. of auto-entries: 1
EUR/JPY +40 & 88 (maximum target hit !)

Oct 9: Short EUR/JPY @ 138.57 for +40 & 88 pips

Compared to two days ago, I was able to make a bigger and quicker profit (+128 pips) this time round with another two short EUR/JPY contracts and just under an hour of EA trading time.


I am so relieved and in the meantime will remain cautious, as there could be a few more tricks under the sleeve by the central bankers. I don't think this concerted rate cut is the last bullet in the Central Bankers' guns to be fired. Anyway, I'll continue to tackle these volatile markets day by day.

Another Profitable 100-pip EA Setup with +76 pips; +189 pips Tuesday

Earlier today, the 100-pip EA program scored a total of +113 pips with two short trades in the GBP/USD market during the European Session. I also found another setup in the late session:

No. of signal recommendations: 1
End-of-session results: EUR/JPY (+170 pips !)
Maximum potential: Over 200 pips !

100-pip EA system
No. of auto-entries: 1
EUR/JPY +40 & 36 (minimum target hit !)

Oct 7: Short EUR/JPY @ 139.50 for +40 & 36 pips

Yesterday was an incredible day in the forex market too but the system was inactive, i.e. no trading alerts. And I was pretty nervous this morning after the market experienced huge price volatility during the last 36 hours.

Anyhow, by following a fixed trading routine, I was able to keep my composure and wholly relied on the system to increase my chances of winning. The goal was simply to make 100 pips when possible.

I Made It This Time to Score the Second Biggest Winner Up-to-date with NewsTrader

Just a few trading days ago, I wrote the following review post:

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

"The Newstrader System had been caught out by a larger-than-expected 'high-low' swing in today's news trading action...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."

Today, I reaped the benefit by picking my own brain. Apparently, I had maximised my chances of something good happening by creating, noticing and acting on opportunities. I was able to hold out another "fake swing" simply by using a higher SL of 35 pips - as I would have been stopped out with a SL = 30 pips.


Check out the similarity of the trading action between these two USD/CAD events:

Oct 6 (Today): Long USD/CAD for +25 & 103 pips; SL = 35

Sept 30: Long USD/CAD for +25 & 74 pips; SL = 35

I've just revisited my older post: My Top 5 Forex Day Trading Winning Habits. You may find this an interesting read.

Technical Help: Comprehensive Forex AutoCash Robot Manual

• Forex AutoCash Robot Trades 9 Years With No Losers - Review and Answers

I've reported most of your technical issues with regard to the operation of forex autocash robot. And soon we'll be receiving a comprehensive trading manual.

From John Burroughs & Support Team:

The new manual covers your specific questions plus absolutely everything - from detailed installation instructions through to Frequently Asked Questions relating to trade execution, risk & money management, stop levels, brokers, taking profit and so much more.

Although the Forex AutoCash Robot was designed as a "Set & Forget" system, some people felt that they wanted more information than the setup videos provided and so we decided to create this manual.

The manual will be available in the download area of the website by 3pm EST on Sunday. In the meantime, please visit our KnowledgeBase area of the Help Desk. (http://www.forex-autocash-robot.com/login.php).

In addition, there is a complimentary copy of the Wednesday Blaster EA to be released on Tuesday.

Trading Non-Farm Payrolls With NewsTrader EA Program (11)

I made a mistake in the setup today by trading only the US Non-farm payrolls event and not extending the Newstrader program beyond the ISM Non-manufacturing event.

Most of you would still able to capture the early part of the profits from the initial news action based around the Non-farm payrolls data (except those with alpari server, such as myself.)

Final results from different broker servers are as follows:

Alpari 0 , 0, +25 and +76

Interbank+25, +12, +25 & +76

FXDD +25, +10, +25 & +74

Oct 3: Short & Long @ GBP/USD market

Watch out the following news trading opportunities next week:

Monday - CAD Building Permits & Ivey PMI; Tuesday - AUD Interest Rate Announcement, GBP House Price Index & Manufacturing Production, USD FOMC Meeting Minutes; Wednesday - AUD Home Loans, CAD Housing starts, USD Pending Home Sales; Thursday - AUD Employment Change, GBP Interest Rate Announcement; Friday - CAD Employment Change & Trade Balance, US Trade Balance

Forex AutoCash Robot Trades 9 Years With No Losers - Review and Answers

I've purchased a copy and done my homework:

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

Here is my review. Forex Autocash robot by John Burroughs is not a quick-rich scheme, but a system pursuing an "ideal-case" long-term investment plan which does not allow a failure (loser) at any point.

Let's put in this way. John Burroughs has a starting capital of 10,000. His robot trading performance (with zero losers) has allowed him to build up a "paper fortune" of 5,ooo,ooo (5 million) in 8 years and 8 months. How did he do it and how does the robot work exactly? What are his parameter settings?

I've got some answers for you here at ScoutForex. Here are some trading facts based on the trading record provided on his website:

1. John Burroughs had risked 100% on his initial capital.
   
2. The forex autocash trading robot was designed to churn out a small gain of approx. 1.05% each time (per closed trade).
3. The robot was only allowed to open one trade at a time.
4. The robot had not encountered any losers in the past eight years and eight months.
5. The robot traded about 68 times a year.
   
6. All winnings had been compounded.
7. The robot produced 100% return in the first year.
8. The robot had quadrupled his trading account at the end of second year, i.e. by making a 300% return.
9. This subsequently led to a sizeable gain of 16x, 70x and 290x initial investment in year 4, 6 and 8 respectively.
10. Below is the equity return curve which covers a trading period of 8 years with the forex autocash robot.
    

All in all, he stood to lose out all if the system had slipped up at any point - with one losing trade. Very surprisingly - the system did just fine.

On his trading video, he has recommended using a setup of 10% risk level instead - meaning that if the robot happened to lose out on one trade, you still have 90% of the remaining account balance. Let's look at the potential return curve below.

The 10% risk level encourages safe trading, you could still score well with the system by allowing your trading account size to increase steadily. You will probably double your account size in 10 years if there is no major slip up. The results actually equates to a approx. 7.2% compound annualized return.

Meahwhile, a higher 50% risk level will probably get you to this point in eight years, i.e. with 16x initial investment (see chart below). At present, we are all provided with the same autocash robot trading routine. Whether the whole 9-year no losers feat could be repeated, it is difficult to judge right now and only "time" will tell. We shall revisit this in future.


In addition, I have not yet explored the prospect of using multi positions at one time. With that, perhaps you could reach your set goal in a faster time span. And what about the the forex autocash trade entry system which appears to do the trick for the past nine years. This warrants some investigation and explanation in future when things are moving.

p.s. For your information, it is also possible to have the robot trading a fixed number of lots as an alternative to the scaled-lots approach . "The person using the fixed lot option will probably earn more money per trade at the beginning than the person who selects the scaled lots option. But as time goes by, the scaled-lots guy will leave him in the dust", so said John.

p.s.2 Technical Help: Comprehensive Forex AutoCash Robot Manual

Day Trading Service: Trading Report Sept' 08 (+290 pips)

Fact 1: Major-Pairs Results +290 pips; Yen-Crosses Results +450 pips; 100-Pip EA Results +412 pips

September was the month in which the US dollar finally rallied to year highs against the rest of the major currencies. Overall, markets were choppy and there were some sizeable pullbacks in mid-month. Hence, the larger-than-normal daily average swings.

We were able to take advantage of the strong market movements, and made gains with both systems: End-of-Session and 100-Pip Systems.


Fact 2: Up Eight Consecutive Months Since Inception

August was a record-breaking profitable month with our routine daily live trading sessions earning a total of +760 pips from the major pairs. In September, the system recorded a smaller gain of +290 pips. Most profits were made from EUR/USD (+245 pips), USD/CHF (+85 pips), USD/CAD (+70 pips) and etc.

In addition, the 100-pip ea system managed to top that by producing additional +412 pips. All the latest results and breakdown of 100-pip setups can be found via in this page.

Fact 3: Individual Performance Overview & EUR/USD Still the Top Performer

EUR/USD is still the biggest gainer of all since the start, closely followed by USD/CHF and USD/CAD.

Results summary:
EUR/USD +940 pips
USD/CHF +570 pips
USD/CAD+490 pips
AUD/USD +85 pips
GBP/USD +40 pips
USD/JPY +5 pips

Looking back all the past and current stats, I am glad that the results still add up and look ever more promising. With the latest addition of 100-pip EA Program, we are well-positioned to capitalise on the system's future gains in the currency markets.

Last but not least, all ScoutForex readers can simply join our growing forex daytrading group today and learn instantly how to build confidence, generate a sense of control and make consistent monthly trading gains with ScoutForex DTS.

Previous Reports:
Day Trading Report Aug' 08
Day Trading Report Jul' 08