Posts Tagged ‘EA’
Walk Prior to Running for Online Currency Trading Success
July 24th, 2010
Posted in Forex
Guest post by Oracle Trader
If you want to achieve success with online currency trading, you’ve got to start slow. This isn’t what most newbies need to hear. But this isn’t how it functions. This is partly due to advertising. It is advertising that trains us to need it all, right now. It is down to the brokers, robot developers and people who make money from selling forex trading services. They show delicious pictures of the dazzling homes, autos and approach to life you can have when you’re earning thousands of pounds a day as a top level forex trader. What they don’t say, or only in the footnotes, is that this is the little minority of traders and they didn’t get there without some sleep-deprived nights, some losses and some tough work.
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Getting the Most From a Micro Forex Account
July 3rd, 2010
Posted in Forex
Written by Forex Illusion
Starting with a micro account does not necessarily mean that you can skip over the demo stage. This cuts down on the likelihood of making technical mistakes or mistakes in the execution of your system in your real money account, provided of course the platform remains the same in demo as for the real market.
To get the most from a micro currency exchange account it’s very important to have a system that does not involve enormous risks . In most cases you’ll be using high leverage on the account or trading more than one lot, so that you maximise the amount you can make from winning trades. This means that any loss is likely to have a large impact. Thus you need a system that only makes tiny losses. Don’t choose a system with a really high win rate because it is likely the losses, when they are doing happen, will be heavy. This could wipe out a trader using maximum leverage in a micro account. Of course, no forex system is completely predictable, but statistically a small account balance will have an improved chance of surviving that way. Used in this way, a micro currency exchange account can be the best way to start with noob fx trading.
Forex Brilliance and Each Currency Pair Getting Its Ownn EA
March 23rd, 2010
Posted in Forex
I see fairly often different expert advisors being created to trade on any currency pair. They are never made or even tested on all major pairs. Often there’s just one pair and it’s made and tested on it. But traders still use it on different currencies and see very different results. However, I I believe it only makes sense to have a expert advisor made for one pair and trade with it on that one special pair all of the time.
That’s what Forex Brilliance developers think too and they have made a suit of expert advisors that trade on explicit currency pairs. There is not any confusion as to what to trade it on and whether it should work better on one currency pair or another. I think more developers should use this practice. Not only that, when you’re trading by hand you need to consider that to be true for your manual system also. It’s a matter of probability, when you test and modify a system on one major pair, it’s likely to perform best on it. Naturally, I don’t say that there aren’t any systems that are universal, but it is’s a lot more hard to develop and run such a system.
Forex Black Panther Trades in Diverse Markets
March 7th, 2010
Posted in Forex
One of the largest problems of automated currency trading are the diverse market conditions. Many expert advisors fail at it. And some mess up totally because they were built under certain conditions and then the conditions suddenly changes. The traders are often left puzzled of what happened. The answer to this problem is naturally implementing different strategies for different conditions. There aren’t that many market types. Trending, ranging and choppy markets are the main classes. And some robots such as Forex Black Panther employ different techniques to address the issue. It isn’t that complicated in brief. If there’s one system for every market type, it is definitely possible to mix them all together. Of course the best bots can mechanically identify the market type and switch on the right strategy.
When you are trading manually, you always do that. You choose a technique for the proper market type, or wait for the proper market type to occur. Then maybe it is definitely a good idea to employ a robot only under specific market conditions if nothing else works.
Is Forex Torpedo Really Forecasting Markets?
March 3rd, 2010
Posted in Forex
There are hundreds of currency exchange robots but Forex Torpedo has attracted my attention. Why? Because it claims to beat other robots by rather than using just past data, predicting market price. It asserts it uses artificial intelligence and other bells and whistles to do that. It is fascinating, but I have some doubts. Are not other EAs really doing the same thing? There are plenty of EAs which profess to use A.I out there and to be blunt, there is not any way we are able to see how they employ it and if they use it at all . Anyone can say they use articifial intelligence technology and get away with itbecause it’s impossible to confirm it. But at the end of the day what matters are the particular results. Does the expert advisor give good results? That is what matters, not that it foresees market or uses past information. So, having said that, I’ll leave it there. We should judge a currency exchange EA by its results, not by its features.
The Importance of Diversification – Caliber FX Pro
February 22nd, 2010
Posted in Forex
As a currency exchange trader you probably need to trade with a certainty that you’ll profit and you wish to decrease your risk. And there are several methods to do that – from correct use of stop loss to correct scaling. But one of the most underestimated techniques is the diversification. Very few traders essentially diversify their portfolio thru different currency pairs, and many of them just target one currency pair. While focus is a nice thing, diversification will help you protect your investment.
That’s the message that Caliber FX Pro carries. This system wants you as a trader to diversify your portfolio and reduce your risk this way. It really is a good system to follow. You can choose from 3 currency pairs to incorporate in your forex portfolio. When trying to decrease your risk, use all tools you have available. And that contains the diversification. It will allow you to spread your money across different currency pairs and defend your money that way.
GBPBOT – The Simple Way to Test Currency Exchange Systems
February 11th, 2010
Posted in Forex
Article courtesy of GBPBOT
First you may use backtesting. Here you take your system and work out on paper how well it might have done on the recent historical market, i.e. The last six months or whatever period you select. This doesn’t take too long as you can quickly scroll thru historical charts searching for the signals that would have led you to make a trade if you had been operating your system live at that time.
Backtesting should give you an idea of whether a system has potential. Naturally the market is not going to copy in the same way so you do need to take under consideration the proven fact that you may have struck fortunate or unlucky and picked a time when the system performed surprisingly well or badly.
Because of this, it’s best to backtest over the longest possible time and maybe split your tests so that instead of testing, for example, one full year when the market should have been especially powerful or weak, take the first quarter of year 1, quarter two of year two, etc so that you test one 3-month period from every year of four years. This gives you a good period spread without requiring you to cover 4 whole years.
The second way to test forex systems is in a demo account. Here you are working with the live market but not using real money. This technique is slower because you have got to wait for your signals to come up for real . On the other hand, it emulates real live trading techniques with the possibility of slippage and other factors which aren’t gong to turn up in back testing.
Remember that you can test several systems at the same time in a demo account, provided you keep separate records of their performance. Or you may use many demo accounts. In this fashion you’ve got a better chance of ending up with at least one moneymaking system at the end of your period of testing.
Forex demo accounts also have the edge that you are developing your live trading talents and familiarity with a software platform and charting service at the same time as you are running your tests. This gives you solid real time training to prepare you for the moment when you go live with real money. Most forex brokers will provide free demo accounts which you may use to test foreign exchange systems.
Pip Android
January 29th, 2010
Posted in Forex
Here’s something interesting. I think it is:
Pip Android is the “most intelligent currency trading system” that promises remarkable accuracy and profitability. Most importantly, it will show live trading results to back up its accuracy, once it goes live.
Pip Android’s main features:
Provides live results updated every 10 minutes.
Trades in different market conditions (ranging, sideway, choppy, and trending markets)…
You should at least take a look, I think.
FRWC’s Royal Trader
January 29th, 2010
Posted in Forex
A new currency trading robot:
FRWC Royal Trader consists of top 5-7 currency trading robots from the Forex Robot World Cup competition that is about to end. Not only do these robots are the top performers, they run with a constantly updated live statements available for everyone to see for almost 2 months. In addition, it is sponsored by FXCM and Boston Technologies…
I’m not saying to buy it, but it’s interesting enough to take a peek.