Software based Forex trading.

[Blobby]

...................

 

[kebinu]

Just post your result here man.

For me, I don't believe there's something which is fully automatic and yet can be profitable over time.

Human analysis is always necessary, then come that automation.

 

[OnlyHuman]

I have been using this software for Forex trading for the past 2 months. Not bad, started with 5K USD, around 3%-5% return every month as I set my "risk tolerance" to "low". If you want higher returns of course you have to take higher risk, however using the low setting is almost 95% safe unless there is some major world event. Everything is automated, you just need to let it run and trade by itself. Good for a Forex newbie like me.

The broker and software maker also have an affiliate program which means that the people you introduce can also help you generate some additional income.

PM me if you need more information. I can also let you see my pass records which I keep everyday to track my trading.

I totally believe its 95% safe only.

I think you forget to add " The remaining 5% can safely wipe out the entire account"

I have seen people with >90% win rate, but still wipe out the entire account.

Simply because they use the trading rule in a totally opposite manner.

(i.e. Cut the Profit and Let the Losses Run!)

 

[Futureskid]

I believe, of course I could be wrong that most tradings done by banks and similar institutions are via automated software.

This is my record for today.

Around 4% return every month. Not a lot but my risk appetite is not high, I'm happy just to generate some passive income which don't require too much of my time.

How to read your record? I'm not very clear on the the figures or prices stated ... can u elaborate more on the picture?

 

[sacredrays]

interesting...

 

[shawnwong]

It normally works by taking many position across many pairs, scalping, hoping on average, wins more over losses thus + overall.

Its too early to say if it is feasible. Regardless if it is automated, it still follows certain rules to execute the trade thus as what OnlyHuman has said, it may comes a time when certain conditions which the system performs badly, and it will be hit maximum ...

So my advice, even if you wanna do automated trading, at least know how the system executes the trade? What system does it use? If you know how it executes its trade, then you can control your risk better and stop when market condition is not favourable ...

 

[OnlyHuman]

I totally believe its 95% safe only.

I think you forget to add " The remaining 5% can safely wipe out the entire account"

I have seen people with >90% win rate, but still wipe out the entire account.

Simply because they use the trading rule in a totally opposite manner.

(i.e. Cut the Profit and Let the Losses Run!)

I found one example on ForexFactory to better illustrate what i have said.

Please take a look at the win rate. Its >94% (Amazing!)

Also take a look at the account's current condition.

So please traders, please don't assume high win rate means profitability.

This is one paradox that has been haunting alot of people i believe.

To be profitable, you will have to cut your losses and let the winners run.

Not the other way round.

 

[kebinu]

One of my ex colleague used a forex system with many pips as stop loss, rrr less than 0.1.

How to be profitable even with 90% success rate? Gotta see what system and how the machine trade to see if it's feasible or not first.

 

[Futureskid]

This is just a screenshot from "MetaTrader" an app which you can install on IOS or Android. The software and brokage is using the MT4 platform. You can also trade manually but I'm only using it to monitor, as all my tradings are done via the software.

This is the history of all my completed trades since May. There are hundreds above, but the latest ones are shown. Every completed trade is either a profit or a lost. I still have some open positions(trade which are not completed) since 15 Aug. When to open and close is determine by the software. As I'm only expect 3-5% returns every month, have a small capital and trade fully automated. My pip size per trade is only 0.04, so you can see that the profit and lost per trade is very small. You want to chiong for 10..15...20% per month also can..but prepare a strong heart, more capital and make sure it's money you can afford to lose.

The credit is "extra money" you can use, given by the brokerage, different brokerage have different offers. For the rest of the stuff like total profit and initial deposit, I think it's self explanatory?

ok... taking the last row as example, it shows the date and time on 15 Aug 1132hrs, is that the time where u completed your buy order by selling back at 1.56339? What does the date time represents?

 

[Lasogette]

You need to look at the max draw down and risk to reward ratio as well

 

[xersion]

show what software u use..
will run on demo and see results

 

[HoGnix]

My record for today.

Note that this is not a let it run, don't have to work and sit at home wait for money. My trading strategy is only a safe 3-5% returns a month.

If you want to make a living out of this. Don't expect sure win or just be a full time manual trader.

Back to the essence, without financial analysis, a trading software if it is only based on the real time trading data, no matter how the software designed and how the trading condition set, its long term net trading gain is always “0” (trading fees not included).
Example:
A person bet on dice by guess “Big” or “Small” game, he can claim he has almost 100% chance win $1 if he has the capital of $1000000. True?
The software can be designed in such a way.
1. Bet $1, if he wins, then game over. He wins $1.
2. If loss, he bet $2 on the next game, if he wins, then game over. He wins $1.
3. If loss, he bet $4 on the next game, if he wins, then game over. He wins $1.
4. If loss, he bet $8 on the next game, if he wins, then game over. He wins $1.
5. And so on….
He can repeat the process until he used up all his $1000000 which looks impossible.
So does it means every time he can win $1 forever?
Think about it.

 

[Gentleblade]

Its those unforseen thing that wipe u. Lol

 

[sAVaGEmP5]

Your acct so little money, and the % earned is so little per month, not worth the risk. Also the trade record is what 2 months ? IMO it shld be at least 5 - >10% since its on prop and leverage.

U need to also show the risk time period for each trade

Automated sw writer makes money via subscription, and they just need to ride the wave. Once it dies down write a new 1 and get sub again. are u 1 too ?

But if u as a subscriber noe when to stop, will be good.

Nowadays so many money mgr claim to make money from 2009 to 2012, but 2013 stagnant.

Just my 2 cents to remind other users.

 

[Shiny Things]

SO MUCH DERP. Jesus.

I'm going to leave aside the "everything is fixed" whine and just say that if you really think the markets are rigged against you, you shouldn't be trading in the first place. (Also, "waah the big bad banks rigged the market against me" is usually code for "I made stupid mistakes and lost all my money and I don't want to admit it's my own dumb fault".)

But I want to latch on to this:

Anyway there is nothing wrong with the method you described? Isn't that how big institutions trade? Because they have the capital? With that large of a capital and small bets and an automated process, this is almost a sure win method as long you can find someone that lets you bet like that. The key is to be patient and don't be greedy.

Absolute crap. If any trader at a "big institution" tried implementing a strategy like what Hognix described (and that you can't find a problem with), they'd be fired on the spot for being stupid.

The reason they'd be fired for stupidity is that the strategy is guaranteed to blow up - and the reason the strategy is guaranteed to blow up is that your bankroll isn't infinite. To leverage off Hognix's example, let's say you're betting on GBPUSD, and you double your bet every time you get it wrong. Doesn't matter if you're betting long or short or whatever. If you start with a $1 bet, and you get it wrong 20 times in a row, you'll be flat broke.

This is not me wanting to rain on your parade. This is math.

I've lost count of the number of people who've come through this forum with a "sure-win forex strategy", been told "don't do it it's a martingale", then come back three months later crying their eyes out because they've blown up.

My favourite was a kid (he can't have been more than 20 or 21) named Desmond Leong who came through here in 2010 claiming that God was telling him how to trade spot gold. His strategy was a martingale and we told him as much.

He raised $100k for his "managed fund" from friends and family; three months later he lost the lot.

Update: That all said, I'd like to see your backtesting results. PM me if you want me to take a look and see whether what you've got is the real thing or a dangerous blowup machine.

 

[Futureskid]

Record for today.

What is your company's name?

 

[jgyy1990]

80 SGD in like 2 days not bad

 

[supratentorium]

Hi Blobby

If you realize that you might blow up your 7K and you are prepared for that, i really think that's all good. You know what your downside is.
I have to disagree with you about the emotions part. Your backtester shows at one time it has 9 consecutive losers. If that actually happens will you deny at that point you don't feel anything? You can't massage the emotion part out of the equation. The expert advisor in only a tool, it does not have autonomy. You have. Maybe your average loser of 20+ dollar loss per trade multiply by 9 = 180+ loss does not tickle you enough.
Looking at your backtester results. I presume it runs on some CCI crossover capturing on average about 30 pips from the GBPUSD and your holding time is about 4 hours. It's likely the trade frame is from a 10 minute chart which has an ATR of about 15 ticks

1. Did you factor in commissions into you profits? If i try to pick up 30 dollars from the floor each time and i have to give away 2 dollars, that's pretty significant.

2. September 2008 is an outlier in the past 20 years. Try not capturing that in your backtest. Most trend follow systems will undoubtedly look like a champion in 2008.

3.Your largest win 4267.20, your largest loser 602.98. It's 7x larger but your average winner is 23.25, your average loser 35.31 Have you asked yourself why there's a skew?

 

[dave.c]

I recommend this thread to be locked.

Or more suckers will get hook up and sunk with Blobby in future.

 

[sAVaGEmP5]

SO MUCH DERP. Jesus.

My favourite was a kid (he can't have been more than 20 or 21) named Desmond Leong who came through here in 2010 claiming that God was telling him how to trade spot gold. His strategy was a martingale and we told him as much.

He raised $100k for his "managed fund" from friends and family; three months later he lost the lot.

Update: That all said, I'd like to see your backtesting results. PM me if you want me to take a look and see whether what you've got is the real thing or a dangerous blowup machine.

wow inspiring story... i mean hes either very good at pursuading or hes got really rich friends and family hehehe