A Sound Manual Forex Trading Strategy

A sound manual trading strategy. Hi everyone, you may have time to manually trade your forex account, and for those I wanted to share a simple yet effective way to trade without an expert.

Support and Resistance Trading

This is about as easy as it gets, yet many traders try to complicate trading with many indicators drawn all over their chart. Let's have a look at this chart. This would be a trade set-up for a "long" trade or a "buy" trade.

In the above example we would have a profit of around 28 pips. Not bad at all. Now depending on your risk appetite you would probably want to put a stop loss around the start of the support line. This would protect the trade in the event of a severe reversal or news event.

If we mirror the above chart the same can be used for a "short" trade or a "sell" of the market. The line would actually now be called a resistance line. When the price moves up and closes around the resistance line, we can place our order. You will notice that the price bar will not always close on or near the line. This is common and generally not a good time to enter the market. Look for the bar(candlestick) to close around the line.

I hope this illustrates a simple way to trade the market if you have the time to "watch" the market. Otherwise a solid expert advisor is probably your best bet, as you may be missing trade opportunities. Happy Trading!

Remora EA | New EA Due To Release Jan 2014!

Hi everyone!, this new EA is due to come out around January 2014. I am writing about this one prior to its releases because I believe it looks promising

"Follow the big fish"

This is the slogan for this EA, and it describes the strategy as a trend following EA. It appears to operate on the EURUSD 15 min. time frame. It opens a position when the market establishes a true direction.

It has 2 sub-strategy:

- Main strategy has a 15 pips hard TP with 45 pips hard SL, equipped with dynamic SL if the market doesn't go in the appropriate direction. This strategy contains the 90% of the trades.

- Small strategy needs a smoother market movement and has 6 pips hard TP with 22 pips hard SL. This strategy contains the 10% of the trades.

Lot size is based on equity AND market movement. This tells me that the risk will vary based on price action.

What about a LIVE forward account?

Yup we can follow this account below;

What about a backtest?

Time: 2003.05.05 - 2013.10.01

Fix spread: 1 pip

Starting Balance: 10,000

Finish Balance: 2,633,039.06

Maximal Drawdown: 26.58%

Profit factor: 1.63

Total trades: 1645

Longs won: 76.09%

Shorts won: 77.98%

See more here

The backtest is a tick data backtest as well. Let's see how the above LIVE account pans out over the next few weeks to determine its worth. Face value tells me this one has a lot of potential. At time of writing it is unclear what the cost will be. Also I cannot determine how many accounts we can trade with this.

Volatility Factor | After Christmas Discount

Volatility factor after christmas discount. Hi guys! the Volatility Factor team has just announced an after Xmas discount promotion! You can download the robot at 50% off the regular price. The details are below;

- Volatility Factor EA Single License - $149 (Regular Price: $299)
- Volatility Factor EA Full License - $249 (Regular Price: $399

If you are on the fence about this EA, now is a great time to take advantage of the discounted prices.

Volatility Factor continues to be one of the better options when autotrading Forex. Happy trading and Happy Holidays!

DOWNLOAD VOLATILITY FACTOR AT 50% OFF REGULAR PRICE

Wallstreet Forex Robot | Extended Xmas Discounts!

Wallstreet Forex Robot discount. Hi Guys! Starting today the WSFR team has decided to extend their Xmas discounts. The discounts will be 30% off the regular prices.

The offer will start the 26th of December and go until Dec. 31. The discounts are as follows;

- WallStreet Forex Robot Single License - $209 (Regular Price: $299)
- WallStreet Forex Robot Full License - $339 (Regular Price: $489)

The WSFR continues to be one of the best options when trading forex with a robot! If you are on the fence with this strategy, there is no better time to jump on board. Happy Trading and Happy Holidays!

DOWNLOAD WALLSTREET FOREX ROBOT AT 30% OFF

Forex Autotrading All-Stars 2013

Forex autotrading all-stars 2013. Hi Guys! every year I like to review the top performing forex robots. For this year we have some recognizable EA's and some new kids on the block. For this year there are 4 robots from which I would trust my own cash with. Without further ado let's examine these shall we?

1. ) The WSFR or Wallstreet Forex Robot. For this year as well as last year it is STILL a wonderful robot to trade with. Let's examine why;

>To date at time of writing, 67.73% gain
>571 pips
>Low DD of 8.88%

2.) Volatility Factor EA. This is a relatively newer EA with a higher DD than WSFR, but higher gain and more pips. The higher DD slots this one at number 2.

>To date 90.65% gain
>682 pips
>27% DD

3.) Steadywinner V6. The successor to version 5 has done well especially as of late.

>12.84% gain to date
>264 pips
>DD of around 5%

4.) Forex Diamond V4. The new kid on the block.

>55.4% gain to date
>457 pips
>DD around 22%

Anyone of these robots would be an excellent robot to trade with your hard earned cash. But if I had a large sum of money, I would go with WSFR with the special settings. Note that each of the above named EA's are all excellent and from a logic standpoint are very good pieces of software.

FAP Turbo 2.0 | Does It Deliver?

FAP Turbo 2.0 does it deliver? Hi guys! The original FAP Turbo supposedly made over 200 people millionaires. Does this new version have the goods to deliver such "performance" or is it just blowing air?

Upon landing on the site we are looking at similar type marketing efforts. You know all the graphics and fancy videos. If you are a seasoned forex trader, you are all too familiar with this type of marketing.

There is trade history, but it is not verifiable. There is no way to track the trade history as far as I could see. No Myfxbook or FxStat.

We also have the typical "testimonials" found on the first version. This is fine but I want to see more verified trade results on REAL accounts. Who knows how these testimonials were made?

There is a screenshot of a backtest, but you can not click on it for analysis. Supposedly we can trade 8 different currencies here, with the addition of the new bitcoin currency. The bitcoin currency is slowly gaining some respect, but too early to tell at this point.

The vendor states on the webpage that we can open an account with a couple of the named brokers, and the FAP Turbo 2.0 robot will be pre-installed for use. This is great but what am I trading? maybe I would try with a demo account but that's it.

In conclusion I would like to say that there sure is a lot of fluff to be had on the webpage. But with remarks online like "the original scammers" I would be hesitant to but any sizable money on this one for sure. Maybe there is something I'm missing here?

FAP TURBO 2.0

Wallstreet Forex Robot | Special Christmas Gift

Wallstreet Forex Robot Xmas discount. Hi guys! I just received this email from the WSFR team. Check it out!

From all the team here at WallStreet Forex Robot we wish you
all the very best for the Holidays and the New Year. 

2013 was a fantastic year for our robots and we hope for you too. 
We appreciate your trust and we look forward to seeing you in
the new year.

We have prepared a Special Christmas Offer for you. 

All the Additional Licenses of WallStreet Forex Robot are
in promotion until the end of December, 2013.

Here are the new Christmas prices:

- 1 Additional Real Account for -  $99  (regular price $149)
- 3 Additional Real Accounts for -  $199  (regular price $299) 

You can buy an Additional License from the Member Area in our website:
Wallstreet Forex

This promotion applies to existing WSFR users who wish to purchase an additional license for use on another account/broker.

WALLSTREET FOREX ROBOT

Binary Options Trading Signals | Are There Any Good Ones?

Binary options trading signals are there any good ones? Hi Guys! I am new myself to Binary Options Trading, but this one caught my eye and I wanted to share it with my loyal readers. I am going to explain to you exactly what a "Binary" Options trade is briefly. If you are a technical person who has taken a "digital theory" class maybe in college you might remember what the word "binary" refers to. We are talking about 1s and 0s only. So in a binary options trade it really does not matter what the price quotes are, but more importantly if you guess the direction right.

In a Binary Options Trade you will typically have a few different types of expiry times. You will typically find a trade that may expire for that week, a 15/30 min. trade, or for those that live in the fast lane, a 60 second option. So let's explore some examples shall we.

Mike has just bought(a call in options trading) the EURUSD @1.30000 with a trade expiry in 60 secs.
After the 1 minute is up the price has closed @ 1.30100. So basically the trade went 10 pips in his favor, and since he bought the trade, he has won this trade for whatever contract size he determined when he placed the trade. Let's say he placed the same trade but he thought the price quote would go down after the 60 secs. He would have placed a (put) or a sell on the EURUSD. The price closed @ 1.30100 which would have resulted in a loss.




Apparently with this signal service you can trade directly with the moderator using windows. No SMS or email signal here. This is good when you are trading the 60 sec option, as you would need to follow in real time for accuracy of the trade signal.

Some of the other key features are outlined below:

>Watch Over The Shoulder Of A Pro!
>We Are Completely Transparent!
>One Session Every Trading Day!
>Watch Us Live Even From Your Phone!
>We Try And Win The Week!

>There Are No PC Downloads Required!

TRADE BINARY OPTIONS IN REAL TIME WITH A MODERATOR

EZ Trader Pro | William Morrison Miracle EA?

EZ trader pro William Morrison miracle? Hi guys, let's talk about a brand new EA from William Morrison creator of MDP. This one trades the EURUSD on the 15 minute chart. I believe this is to be a signal service based off an EA on a server.

What is the strategy?

According to the vendor page we have a system based off 3 indicators with a lot of "tweaking" It appears to use a tight SL of around 40 pips. Targets are aimed around 15 pips so not the greatest risk to reward ratio. We have a system that is reliant on hitting a high profitability percentage.

What about backtesting?

Backtesting is shown as a tick data BT 99%. But only dates back to 2010 and not the maximum amount of time(which would be back to 2007). I really wonder why the BT is not a longer one? Is it because the strategy failed miserably before this date? One can only guess and I don't have the means right now to prove that notion.

What about forward testing?

I have included the widget below of the forward test started. Interestingly this account was started with $5000. This is a nice deposit and displays the vendors confidence in this creation.

I remember purchasing William's Fast Forex Millions robot in the past. The support was good but the system was doomed from the start. Basically everyone the used this system became Beta testers for it. Thankfully refunding the EA was a viable option.

So did William finally create a masterpiece? Only time will tell but this vendor sure does like to create countless Forex trading software. Stay tuned indeed.

EZ TRADER PRO

Forex Diamond EA V4.0 | New From WSFR!

This post is all about the Forex Diamond EA. Yup here is yet another profitable EA from the folks over at WSFR. This one appears to trade 4 pairs, although the account that is set up is only trading the GBP/USD. Please look below for the updated results.

While the results are not that bad, we can see that the equity reached a high in August and is yet to climax that point to date.

I have to wonder why the WSFR team continues to release new EA's when they have a few good ones under their belt already? Why not just perfect the EA's you already have?

This EA is being promoted as having a much better recovery factor, when compared to the other systems. Still when talking recovery, we must talk martingale as we use higher lot sizes to compensate for losses.

It is interesting to me that the EA was just released and it is already up to Version 4.0. But if I remember correctly WSFR was released at V3.8 and has performed very nicely to date.

There are 99% tick data backtests available on the website. This is a nice improvement over their last releases which included only 90% backtests.

The trading logic or strategy logic is 3 fold. This is explained below;

Market Domination Algorithm #1
Forex Diamond ЕА utilizes its Trend-Retrace Signal Strategy to systematically execute profitable trades. The algorithm patiently applies well-vetted trading parameters to profit from the market trend while safeguarding your Gains.

Market Domination Algorithm #2
Forex Diamond implements its Countertrend Strategy to watch the market for potential trend reversals.
Once an opportunity is detected, Forex Diamond EA dynamically adjusts its trading parameters to maximize the profit potential of each trade.

Market Domination Algorithm #3
Forex Diamond's Countertrend Scalping Strategy leverages small spread trades executed with precision and speed. Forex Diamond's dynamic trading system quickly adjusts your trading parameters to suit even the most volatile markets.

I have high hopes with this one from the WSFR team. I really have like their past iterations. Let's continue to watch this one shall we?

FOREX DIAMOND V4.0 EA VENDOR WEBSITE