Young Ho Seo / Profil

EURUSD Market Outlook- 14 April 2019

Here is a medium term market outlook for EURUSD. EURUSD is gradually making some narrow range move inside falling wedge pattern. We can have three important support and resistance from the screenshot. We have marked it using red circle. The analysis was generated using Advanced Price Pattern Scanner. The pattern is non repainting. These support and resistance are the valid record for your trading. When you press call butotn, you can predict patterns to watch out on certain price level. It is automatic. 

https://www.mql5.com/en/users/financeengineer/seller#products

https://algotrading-investment.com/

Elliott Wave Trend-Basic Tutorial 1

Elliott Wave Trend provide you a lot of features for your trading. Of course many automatic analysis too. Elliott Wave Trend consists of the following features:

Turning point strength
Turning Point strength Indicator for multiple time frame scanning
Automatic Wave Analysis with Template and Pattern Approach
Manual Wave Analysis with Template and Pattern Approach
Wave Analysis saving and sharing System


This tutorial is not necessarily covering everything. But this tutorial will try to give some intuition over the automatic Wave Analysis. Automatic Wave Analysis is based on the template and pattern approach described in the book: Financial Trading with Five Regularities of Nature (Scientific Guide to Price Action and Pattern Trading).

Steps to perform the automatic wave analysis.

For Automatic Wave Analysis, you can only perform with Impulse and Corrective Waves.



Click either Impulse or Correct button
Click any wave template in the sub window (i.e. small blue and red circles).
Click Draw Line button.
Use either position rule or Wave Score to accept and to reject your analysis.
Your trading will be based on the levels and turning point projected from your analysis.


When you want to set any trading alert after you analysis, use our free Auto Chart Alert.

http://algotrading-investment.com/portfolio-item/auto-chart-alert/

Here are the links for Elliott Wave Trend.

http://algotrading-investment.com/portfolio-item/elliott-wave-trend/

https://www.mql5.com/en/market/product/16479

https://www.mql5.com/en/market/product/16472

If you need more complete tutorial on this, visit this link:

http://tradeinvestsmart.com/2018/03/how-elliott-wave-can-improve-your-trading-performance/

Take Profit and Stop Loss in Optimal Turning Point Pattern Scanner

Optimal Turning Point Pattern Scanner is also using the risk management concept with Pattern Completion Interval for your trading. Must remember that trading without having good reward/Risk ratio is useless. They can blow your account pretty quickly. Please make sure that you understand the role of Pattern Completion Interval and how it can help for your trading.

In Optimal Turning Point Pattern Scanner, your stop loss and take profit is controlled for individual patterns. This is the main difference from Harmonic Pattern Plus and Harmonic Pattern Scenario Planner. Since Optimal Turning Point Pattern Scanner have different categories of patterns like Elliott Wave patterns and other Turning Point patterns.

To actually change your stop loss and take profit, scroll down in your input. Stop Loss = 1 means that it is size of 1 x Pattern Completion Interval Box. Take Profit = 2.5 means that it is size of 2.5 x Pattern Completion Interval.

Optimal Turning Point Pattern Scanner provide all the historical patterns, reflecting real world trading. Hence, please test your strategy and change your stop loss and take profit according to your observation from your chart. We have already shown you how to test your strategy with Optimal Turning Point Pattern Scanner in another article here.

https://algotradinginvestment.wordpress.com/2019/04/02/showing-historical-patterns-in-optimal-turning-point-pattern-scanner/

Also check the screenshot for better understanding of this basic risk management concept.

https://algotrading-investment.com/portfolio-item/optimal-turning-point-pattern-scanner/

https://www.mql5.com/en/market/product/35602

https://www.mql5.com/en/market/product/35603

Gap between knowledge of using EAs (i.e. trading robots) and your expectation as consumer



For your information, this article was published in the mql5.com forum here first: https://www.mql5.com/en/forum/310265/page2

Because this article is good for educating new traders, I will share the same contents in this blog too.

In this article, I will try to explain the big gap between knowledge of using EAs (i.e. trading robots) and your expectation as consumer.



Typical Scenario losing money with EAs and robots



This is the typical three step scenario how novice trader starts to appointed to the signal subscription or buying EAs and etc. Then they can lose a lot of money pretty quickly with too optimistic thinking.



1. You have an idea of trading robot can beat human trader from news and mess media, etc.

2. Then you see many signal copying adverts on the internet with unrealistically high growth was achieved in backtesting and even forward testing with all sort of sweet words, etc.

3. You copied their signal or buying EAs and you never get the same results but losing money ever fast (the speed of losing money is even faster with high frequency or scalping robot because they are high frequency.)





Starters must read



1. Backtesting is never indicative of future performance

2. Profitability in Live forward testing can only result in one or very few brokers. This means that many times it will not work for you when you copied the signal.

3. Live forward testing result is not absolutely trustable source either. It is possible to easily produce good live forward testing results for 6 month or 1 year or even 2 years and they can blow up all their account in 1 day (Black swan).

4. EAs and trading robot are not updated with real world market news and economic data release. Hence, they can always go against the market for big news release.

5. EAs (i.e. Trading robots) are operating in black box mode. Hence, you have less control over their operation.





Here is why



Expert Advisor or trading robot or signal copying is a highly specialized statistical product but this is least emphasized by MetaTrader users and signal provider.

Why? Because you need to understand how the simulation technique, data and strategy contributes towards your profitability (one more factor is real world technology around internet and network).

What you are seeing in backtesting and some forward testing is typically strategy part only.

Some novice traders are missing to see how the simulatin technique and data plays a role in the profitability as well as technology around internet and network.

How these three simulation technique, data and strategy contributes towards the profitability are best described in the language of math and statistics (Not theoretical math but applied math, these two are totally different. Applied Medical statistics and applied geo statsics are often great resource and knowledge reservoir for this).

Until you fully understand all these, I will not recommend EA and trading robot.

Typically this is quite intensive learning skipped by many starters and traders.

I do understand you want to make money quickly But can we go long way short really ?

If you try to shorten the path by skipping them, eventually you will take even longer time than people taking the right path from the beginning.



What options do we have?



Your option to the profitable path in financial trading is either you become great applied statistician (i.e. mathematical trader) or great trader (i.e. manual trader knowing how to apply fundamental and technical analysis).

Question is which professional trader would choose to become ?

If you are unfamiliar with numbers and quantitative theory like mean variance, capital market line , error correction model, integrated moving average, cointegration, ADF test, Phillips–Perron test , two-way handshake, three way handshake tcp/ip, REST api, etc,

I think I will recommend to become manual trader.

Do not forget that we always have an option for not trading.



Summary



EAs and Trading robots are a highly specialized and sophisticated statistical product but they are often treated like piece of shampoo bottle sold for $99.

Before using them, user must understand how simulation technique, data, strategy and real world network contributes towards the profitability.

We will not discuss all these in this post because this is such a long story.



if you want great manual trading tools, then do not forget to visit our website:



https://www.mql5.com/en/users/financeengineer/seller#products



https://algotrading-investment.com/

Supply Demand Zone for EURGBP and USDJPY - 13 April 2019

Here is some important supply demand zone for EURGBP and USDJPY. I use the default setting of Mean Reversion Supply Demand. You can always lock the individual zone from your chart, by clicking Lock button in your chart.

https://www.mql5.com/en/market/product/16823

https://www.mql5.com/en/market/product/16851

https://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

Supply Demand Zone for EURUSD and GBPUSD

Here is some important supply demand zone for EURUSD and GBPUSD. I use the default setting of Mean Reversion Supply Demand. You can always lock the individual zone from your chart, by clicking Lock button in your chart.

https://www.mql5.com/en/market/product/16823

https://www.mql5.com/en/market/product/16851

https://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

Most advanced Elliott Wave Software for your Trading

Elliott Wave Trend is the most advanced Elliott Wave Trading software, whith capability to scan Wave .12345 pattern and Wave .ABC and Wave .ABCDE. Elliott Wave Trend was built on the concept of Precision Trading with Elliott Wave Structure Score. Our Elliott Wave Trend is professional tool for professional trader. Yet, the price of it is affordable.

With Elliott Wave Trend, you can also share your analysis with your Friend and clients through Elliott Wave Reader.

Our Elliott Wave Trend is available in both MetaTrader 4 and MetaTrader 5 version.

https://algotrading-investment.com/2018/10/25/how-elliott-wave-can-improve-your-trading-performance/

Link to Elliott Wave Trend.

http://algotrading-investment.com/portfolio-item/elliott-wave-trend/

https://www.mql5.com/en/market/product/16472

https://www.mql5.com/en/market/product/16479

Scan and search future harmonic patterns with Harmonic Pattern Scenario Planner

Harmonic Pattern Scenario Planner is a tool you can scan and search future harmonic patterns in just one button click. It would detect any potential future harmonic patterns in your search range. You can even get the potential take profit and stop loss of the future patterns even before they form. What is even more, you can use all the features and functionality of harmonic pattern plus from your harmonic pattern scenario planner too. Harmonic Pattern Scenario Planner is also compatible with our Harmonic Pattern Order EA.

Have watched this interesting movie called “Next” ? Check out the guy can see the few minutes into the futures. How powerful the 2 minutes vision for future is. Predicting future is very tactical game but it is hard because future keep changing based on the presents. However, it is definitely an interesting game. As a trader, you can gain a lot of advantage over other traders by predicting futures.

http://www.imdb.com/title/tt0435705/

We are only one selling the future predictive harmonic pattern scanner.

https://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

https://www.mql5.com/en/market/product/6101

https://www.mql5.com/en/market/product/6240

Setting Up Push Notification

Often asked from our customers about getting alert to their email.

Because nowadays smart phone is so popular for trading.

Yes, you can get the alert to your email address from our products.

But we recommend to use push notification instead.

Because it is much more responsive than email and faster.

Here is the URL link to manuals to setup push notification for our MetaTrader (MT4/MT5) products.

http://algotrading-investment.com/2016/05/11/setting-up-push-notification-with-smart-phone-from-your-metatrader/

More useful tips and advice for your trading can be found below links:

https://algotrading-investment.com/price-action-and-pattern-trading-articles/

https://algotrading-investment.com/trading-articles/

https://algotrading-investment.com/manuals-and-instructions/

Mean Reversion Supply Demand Multiple TimeFrame analysis

Mean Reversion Supply Demand provides the powerful multiple timeframe analysis features in it. It means that you can layout the demand and supply zones from several different timeframe in one single chart. This is very powerful because you can see the confirmation of your trading zones over several timeframe. For example, you can see the demand zone double confirmed from H1 and H4 timeframe in the screenshots.

https://algotrading-investment.com/portfolio-item/mean-reversion-supply-demand/

https://www.mql5.com/en/market/product/16851

https://www.mql5.com/en/market/product/16823

EURUSD Market Outlook 2- 12 April 2019

Market mood changed from bear to bull now. AUDJPY and EURJPY is the leading bullish symbols. EURUSD is moderate bull in the ranking table. It just passed through the critical supply zone. 

http://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

Pattern Completion Interval and Basic Order Management for harmonic Pattern Trading

Pattern Completion Interval is the concept, first introduced in the Book (Guide to Precision Harmonic Pattern Trading), to help you to trade with harmonic pattern in more scientific way. Especially, it helps you to achieve the desired Reward/Risk ratio while you are trading in real time tick by tick data. Here is one of many approaches how you may use the Pattern Completion Interval concept for your trading. Of course, this approach is compatible with your Harmonic Pattern Plus and Harmonic Pattern Scenario Planner. We produce this diagram so you can understand this approach intuitively without any calculator in your hands. Tr = Take Profit Ratio and Sr = Stop Loss Ratio. The diagram shows the case of two orders but you can even generate more orders taking this example further. Hopefully this new diagram is easier to understand than previous one.

Of course, this precision trading frame work is applicable to Harmonic Pattern Plus and Harmonic Pattern Scenario Planner and Optimal Turning Point Pattern Scanner.

http://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://algotrading-investment.com/portfolio-item/harmonic-pattern-scenario-planner/

https://algotrading-investment.com/portfolio-item/optimal-turning-point-pattern-scanner/

https://algotrading-investment.com/portfolio-item/guide-precision-harmonic-pattern-trading/

Latest Special Offer
For 2019 Easter Holiday, We do have some value added surprise for you. To add more success for your Financial Trading and Investment, we are giving out free license for our powerful Optimum Chart (all in one platform). Below is the detailed information about this Offer.

Special Gift 1: When you purchase any of our MetaTrader (MT4/MT5) products over 100 dollar. You can request 1 month license of Optimum Chart for free (https://algotrading-investment.com/2019/04/02/optimum-chart/).

Special Gift 2: When you purchase any of our MetaTrader (MT4/MT5) products over 200 dollar. You can request 3 month license of Optimum Chart for free (https://algotrading-investment.com/2019/04/02/optimum-chart/).

Here is simple terms and condition for this Easter Special Offer. This special offer starts from 11 April 2019 until end of April. You need to request the coupon for Special Gift 1 or Gift 2 within 1 week from your purchase time since we do not contact you directly for this. You can also request this Special Gifts even if you have bought our products from mql5.com as long as they are met the terms and conditions here (If you are mql5.com customers, be prepared to show us some proof of purchase). Also note that you can request this special gift only once.

Request coupon for these Special Gifts at customer.support@algotrading-investment.com.

On top of above two Special Gifts, you can still get massive savings on our MetaTrader Products as usual. Do not miss this wonderful opportunity.

https://algotrading-investment.com/latest-special-offer/

EURUSD Market Outlook 2- 11 April 2019

Market is still directionless overall. As we have mentioned, EURUSD was testing the supply zone with strength 5. It provided as bearish reversal point. Having said, so far, EURUSD is pretty mild bearish and low volatility. Still, I think supply zone and demand zone marked will be attentive levels for your trading.

http://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

EURUSD Market Outlook-11 April 2019

Market is rather mixed between bull and bear. It seems British pound is experiencing bit of weakness against other currency pairs. EURUSD have pretty moderate volatility. EURUSD is retesting the supply zone with strength 5. 

https://algotrading-investment.com/

https://www.mql5.com/en/users/financeengineer/seller#products

GBPUSD Market Outlook-10 April 2019

GBPUSD was moderate bullish in medium term. However, it is not able to penetrate the critical level. How many times GBPUSD is testing the Potential Continuation Zone marked. 

http://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

Trading Investment Helper Version 1.95 Released - 10 April 2019

We have updated Trading Investment Helper Version 1.95. In new Version, we have optimized it for Dot Net Framework 4.5. Hopefully, it runs smoother and better. 

At the same time, we have reduced 15 minutes delay of Free version of Correlation Ranking Heat Map to 10 minutes delay. So we are really thriving to give you more out of our paid infrastructure, even for free users. 

Of course, there is some speed improvement for Paid version of Correlation Ranking Heat Map too.

Then enjoy this free tool for your excellent trading.

Download link is the same: https://algotrading-investment.com/download/125329/

https://algotrading-investment.com/portfolio-item/correlation-ranking-heat-map/

Screenshot shows the paid version of Correlation Ranking Heat Map. In paid version, you can add or remove symbols to your heat map + you can also check the ranking of correlated groups, which is very powerful market indicator.

EURUSD Market Outlook - 10 April 2019

Market is overall bull but there is EURO effect today. We are having some shock across symbols with EURGBP, EURJPY and EURUSD, etc. For EURUSD, the shock was coincided with bearish AB=CD pattern formation. Please watch out Potential Continuation Zone to manage your position. 

http://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475

New Version 6.6 Released for Advanced Price Pattern Scanner – 9 April 2019

In Version 6.6, Each pattern accuracy was improved.
White chart Option was added. Now you can just set it to false or true as you wish.
Pattern List on Comment was added.
Below is the input added to Advanced Price Pattern Scanner.
Use White Chart: true or false
List Pattern type on Comment (Value = empty line number, 0 = disable). Empty line number is in fact spacing from the top of chart.
Please download latest version for the maximum performance for your trading.

https://algotrading-investment.com/portfolio-item/advanced-price-pattern-scanner/

https://www.mql5.com/en/market/product/24679

https://www.mql5.com/en/market/product/24678

GBPUSD Market Outlook - 9 April 2019

Here is weekly summary of the Forex market. It seems market is preferring safer assets. Gold and Silver and EUR are doing good job. British pound is just moderate though. For GBPUSD, PCZ 1 and PCZ 2 would be important mile stone for its development.

http://algotrading-investment.com/portfolio-item/harmonic-pattern-plus/

https://www.mql5.com/en/market/product/4488

https://www.mql5.com/en/market/product/4475