The refund should not be difficult to attain. John Buroughs, the creator has been in constant contact, and is working very hard improving his support network and user web site. He reiterated again this weekend that he offers an unconditional 60 day refund. So we still have plenty of time to check this out and make desisions. If you have any questions about getting a refund, just post a note to his support dept. There is a link on the members web site.
So far this is doing everything he claimed it would. He never said that it wouldnt lose. In fact he said to expect a loss sometime. The fact is it never lost during the backtest period, and I have pretty much confirmed that. Granted, the stop loss setting is curve fitted to produce the results he wanted, but that is part of backtesting and optimizing a trading system. I dont mind that. I have other complaints. Such as it only initiates buy to open trades, regardless of the markets action, it has large time drawdowns, trades infrequently, and only for tiny amounts, and carries a huge potential loss. However, its cheap and a reasonable introduction to this whole business. I didnt know this was available at this level untill now. I thought it was only available through a very expensive service like Trade Station. So I guess the real question is, what does it take to do better, can I do it, or buy it? Where, and how much? Simply claiming this is rubish doesnt really do much. It does work, fairly well too. I'm just not satisfied with how it works.
As far as the fact that its lost a few trades. Theres an obvious answer. Look at a long term chart and put up a volitility indicator, such as a 1 period ATR, set the chart to weekly, and go out over 10 years. We havent seen the current level of volitility in the EURUSD since 93. Look at the US stock markets, there a mess, combine that with the global situation and you have a good reason for this volitility. This kind of action wasnt part of the package. That doesnt mean I agree with a 650 pip stop, and a 5 pip target, but the system doesnt work as well when you change the stop. I think if you take this system and test it under calmer circumstances youll get much better results. Thats just part of learning the strengths and weaknesses of the system. Its nearly imposible to find one system that works well in all environments. That doesnt mean I cant find a system that doesnt work better. I think I can, but any system is going to have liabilities. Every good trading strategy has bad times. If you know them, then you know when to back off and when its safer to take on more risk. For example, over a year ago I was still fully invested, making great returns, with the bull market at my back. Even bad trades could be waited out. Now I'm almost 100% in cash. All my trades are tiny and quick, with a strictly limited loss. Its a different market. Not many systems are doing well in this market. None that I know of can be best in both.
I would like to see a system where I could adjust the time frame and structure of the program to the current market, or my personal goals, a simple system using moving averages and some indicators to measure trend, range, and volitility could possibly do it.
For now I'll keep working with this software and see what its capable of.
We present you an effective software solution for arbitrage between brokers.
The Arbitrage on the market became widespread due to decentralization. There are many liquidity providers, whose quotes differ for various reasons. By tracking the dynamics of changes in the quotes of different brokers, it is possible to determine the delayed and leading brokers, thereby predicting the future prices of the delayed broker for a short time. Knowing these prices and using efficient built-in software filte
Ichimoku Kinko Hyo is a purpose-built trend trading charting system that has been successfully used in nearly every tradable market. It is unique in many ways, but its primary strength is its use of multiple data points to give the trader a deeper, more comprehensive view into price action. This deeper view, and the fact that Ichimoku is a very visual system, enables the trader to quickly discern and filter "at a glance" the low-probability trading setups from those of higher proba
The script is intended for automatic placing of Buy Stop pending orders, Stop Losses and Take Profits on the user specified levels.
Avoiding unwanted entering a long position in case of false hitting the level as a result of widening of the spread by a dealing center. Avoiding unwanted triggering of a Stop Loss in case a quote pierces a significant level (fractal) without further confirmation with the close price. Setting a necessary virtual order and entering the market in
Virtual TrailingStop is an Expert Advisor that manages trailing stop without sending its information to the broker server.
EnableVirtualTrailingStop: enable or disable whole function VirtualTrailingStop: the pip use for determine how far the Virtual Trailing Stop will placed calculated from current price StartFromBreakEven: true/false. If true, Virtual Trailing Stop will placed after breakeven BreakEvenPoint: point profit from order open price where the Virtual T
The Trade Manager Pro EA is a MetaTrader Expert Advisor that performs position management for you avoiding human errors and enhancing your trading activity.
Amazingly easy to use Trade easily from the chart Trade with precise risk management, hassle free Capital preservation is top priority Let profits run without your attention Enjoy risk-free trades as soon as possible Automatic trailing stops for all opened trades Initial stop losses are placed as soon as trades are
Auto Trade Driver is an automatic powerful tool (run as Expert Advisor) that helps you to manage risk and control orders and maximize your profit in multi-protect/trailing-stop rules.
This tool is very useful for both scalpers and trend followers. It not only calculates the trade risk exactly, but also protects and maximizes your profits in real-time.
With this tool, the only thing you have to do is to enter trade by your own strategy, then it will auto-drive your position with exit strategy y
The indicator marks supports and resistances of each rebound, also the maximum price and the minimum price of the day.
It has a basis for developing strategies, as well as for a good technical analysis.
It is very easy to detect trends, channels, trend changes, breaks and other events.
It works in any timeframe as in any type of market.
No additional parameters are needed.
MACD All MAs-14 is a MACD indicator that allows choosing usual parameters of the standard MACD (constructed from EMA) as well as the type of the moving average to be applied: up to 14 different types.
You can select 9 standard MAs available in MetaTrader 5 - SMA, EMA, SMMA, LWMA, DEMA, TEMA, Frama, VIDYA, AMA, TRIX, and 4 non-standard - LRMA, HMA, JMA, AFIRMA.
Method MA - select the type of moving average to be displayed in the current graph. Period slow MA - the number
The fractal analysis of the markets is used in the indicator operation algorithm. According to the fractals theory, after the breakthrough of the fractal level confirmed by the closing price located below or above the fractal, the trend wave in the direction of the breakthrough starts to develop. Until the fractal has been passed in the opposite direction, the trend is considered to be acting even if the price is flat or moves backwards. If a bullish fractal has been previously broken through on
The script allows users to easily close positions if their profit/loss reaches or exceeds a value specified in pips.
Please set slippage value first. Sometimes some positions do not close due to high volatility of the market. Please set larger slippage or restart the script.
The indicator displays economic news on the currency chart (the appropriate data must be downloaded from the Internet - please see the download instructions on the screenshots provided). The list of currencies (countries) is customizable. By default it shows all currencies. The main parameters come with a built-in description. In addition, there are parameters for advanced users. News items are divided into 3 categories by degree of importance. There is a great flexibility in display parameter s
Safe Automatic is a safe MetaТrader 5 trading robot working autonomously on a VPS server. The good results are achieved on EURUSD.
The EA applies modified versions of a trend-following strategy, half-pyramiding, scalping, Elliott Wave method and speculating trading with a deposit protection. The EA switches the strategies automatically. The program also takes the news calendar into account: the robot does not enter the market in a 10-minute interval before and after a news rel
Trade Copier Pro is a powerful tool to copy trade remotely between multiple accounts at different locations over internet. This is an ideal solution for signal provider, who want to share his trade with the others globally on his own rules. One provider can copy trades to multiple receivers and one receiver can get trade from multiple providers as well. The provider can even set the subscription expiry for each receiver, so that receiver will not be able to receive the signal after that
The script is intended for automatic placing of Sell Stop pending orders, Stop Losses and Take Profits on the user specified levels. This script is not that useful as "Virtual pending buy stop", since short positions are opened as Bid price crosses the levels. Thus spread widening is not dangerous. Nevertheless, you need to have this script to prevent unwanted hitting of the Stop Loss levels.
Automation of the process of placing the Sell Stop pending orders, Stop Losses and T
Exp COPYLOT CLIENT for MT5 is a copier for the МetaТrader 5 platform. It copies forex trades from any accounts. Including those from terminals МТ5 and МТ4.
Install the Expert Advisor in the terminal where you want to copy trades. Specify any text label name as pathRead, for example, "COPY". This should match the master terminal (to bind the two terminals). To copy trades, you need to install the free Master copier in the terminal from where you want to copy the trades: COPYLOT
The indicator represents an additional chart window with a lower time frame where bars are combined into groups that are equivalent in time to main chart time frame. Bars are synchronized by the right hand side of the window, i.e. the time of the last bar in the main window corresponds to the time of the last bar group in the additional window. The maximum number of groups is 16; the maximum number of bars combined into groups in the additional window is 256. Limitations on the numbers are requi
Auto Trade Copier is designed to copy trades between multi MetaTrader 5 accounts/terminals with 100% accuracy.
With this tool, you can act as either a provider (source) or a receiver (destination). All trading actions will be copied from the provider to the receiver with no delay.
Note: Demo version for testing can be downloaded at: https://www.mql5.com/en/market/product/5006.
Followings are highlight features:
Switch between Provider or Receiver role within one tool.One provider can copy tr
A script for opening a grid of orders
If you need to quickly open several pending orders (Buy Limit, Sell Limit, Buy Stop, Sell Stop) on a certain distance from the current price, this script will do all the routine for you! Allow AutoTrading before running the script.
Run the script on a chart.
Language of messages displayed (EN, RU, DE, FR, ES) - language of the output messages (English, Russian, German, French, Spanish). Price for open - open price. If set to
Averager is intended for averaging your deals that has had a drawdown or had gone against the trend.
An example of operation of the averager in an Exeprt Advisor in the MetaTrader 5 terminal: Exp - TickSniper. The system is identical to the averaging system created for MetaTrader 4. A demo version of the averager for MetaTrader 5: Averager DEMO.Note: this is not an automated trading system (the EA doesn't work in the strategy tester). It monitors your deals and averages them in case o
qAutoActivation indicator is one of the main components of Trading Chaos Expert trading expert panel. The indicator displays the current trend on the current timeframe. This is the first indicator that is attached to the chart and saved in the trading complex template. It defines what trading signals from the expert panel should be automated for market entry (bullish or bearish ones).
When the trend changes, the indicator changes the line color and, at the same time, highlights the trading pane
CandleTimer is an indicator that can be usable for scalper and short-term traders. It shows the following useful information:
Remaining and past time of a candle on the current chart or other timeframe Alarm setting for play sound at the start of the current candle Show SL/TP line defining whether the indicator has a Sell or Buy order or both Show a spread value Show Ask and Bid lines in different colors in high and low spread Compatible with a money management EA (you can buy it separat
The Expert Advisor implements the classic "triangular arbitrage", which is successfully used by hedge funds.
"Triangular" arbitrage refers to a class of neutral-market strategies, in which the profit or loss of open positions does not depend on the direction of the market movement as a whole.
In order to take profit, the EA exploits a weak spot of market makers - it utilizes the difficulty of balancing cross rates of all currency pairs.
The advantages of the strategy are the following:
The script creates account summary report in a separate window.
The report can be created for all deals and on deals for selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
The script creates account summary report in a separate window.
The report can be created for all deals and for deals of the selected financial instruments.
It is possible to specify a time interval of calculation and save report to htm-file.
MetaCOT 2 is a set of indicators and specialized utilities for the analysis of the U.S. Commodity Futures Trading Commission reports. Thanks to the reports issued by the Commission, it is possible to analyze the size and direction of the positions of the major market participants, which brings the long-term price prediction accuracy to a new higher-quality level, inaccessible to most traders.
These indicators, related to the fundamental analysis, can also be used as an effective long-term filte
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Source - new and improved multi-terminal positions copier for your real / demo account, works faster, requires less, flexible in managing and upgrading, new information support. This expert is designed for terminal MetaTrader5 from which the position will be copied.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention Buttons for re
Market Profile defines a number of day types that can help the trader to determine market behaviour. A key feature is the Value Area, representing the range of price action where 70% of trading took place. Understanding the Value Area can give traders valuable insight into market direction and establish the higher odds trade. It is an excellent addition to any system you may be using.
Blahtech Limited presents their Market Profile indicator for the MetaTrader community. Inspired by Jim Dalton’s
COSMOS4U Volume indicator facilitates your trade decisions. It gives confirmation of the running movement and market trends. It highlights current and past accumulation and distribution volumes, comparing them to moving average volume and the highest volume. In addition, it identifies and marks nuances as well as convergence and divergence patterns of bears and bulls in order to provide the market trend and price ranges.
The supported features are as follows:
Fast Volume Moving Average Slow
Does not support hedging orders on a single symbol on MT5
MultiMTCopier MT5Receiver - new and improved multi-terminal positions copier for your real/demo account, works faster, requires less, flexible in managing and upgrading, new information support. This Expert Advisor is designed for the MetaTrader 5 terminal, trades will be copied into this terminal.
The EA will copy all positions without delays Additionally integrated notification in situations requiring user attention
The indicator determines the inside bar and marks its High/Low. It is plotted based on the closed candles (does not redraw). The identified inside bar can be displayed on the smaller periods. You may set a higher period (to search for the inside bar) and analyze on a smaller one. Also you can see the levels for Mother bar.
Period to find Inside Bar — the period to search for the inside bar. If a specific period is set, the search will be performed in that period. Al
The most profitable trend traders are the ones who know how to recognize not only the market trend, but also the trading opportunities that arise once a trend has been established. The Pz Trend Trading indicator has been designed to profit has much as possible from trends taking place in the maket.
Established trends offer dozens of trading opportunities, but most trend trading indicators neglect them completely, and leave the trader completely uninformed about what the market is doing during a
your not getting 100/1 leverage.
trade 1, 0.68 profit / 12 pips (2x6) = 0.057.
trade 2, 1.03 profit / 18 pips (3x6) = 0.057.
check your account settings, your set at 50/1 leverage.
check your broker to see exactly what a pip is worth. its different for each pair.
there is no standard that says an EURUSD pip is worth 1.
its different with different brokers. some round off to 1 for ease, some are more precise, especially with these small increments.
I wrote several support questions to Buroughs yesterday morning, asking exactly that and a few other questions. Why only buy to open, never sell to open, regardless of market conditions. Why keep the computer running, when no trade is open and none is possible till the next day. I shut down every night and still get my trades. If I'm going to keep my computer running I would like a program that will accually try to pick up trades during that time. If I'm going to trade for such a small gain, I would like it to be more frequent.
There are other $97 robots that make similar claims. Eventualy I would like to look at them as well and compare whats available and being worked on. The robots really only useful if it can do something better or easier than I can without it.
thanks KenL, am asking broker - is alpari and they v.slow to reply. but would like to run info accros u when they do...
not see how learn leverage data. is demo, but anyway, not see how view this.
any way to get Burroughs to take "notice" of this forum and read and maybe think bit about wat punter is thinking about...
seems get stuck in own little bubble - not really understand wat 'perhaps' buyers going through.
by time trial period up, he may realize that has not many buyers ;)
i share what FACR publish. take wat want from it - i not argue bout it, is wat they say. not understand all wat say but maybe good 4 u - u must ask them by ticket system if u have problem:
A large stop loss and small profit objective is not the sole basis of the money management formula. Two other very important components exist: accuracy and leverage.
Some people state that one bad trade can wipe out a whole account. That is true, IF you over leverage your trades. If you use a sensible risk level - say 5%, then one bad trade would only take out 5% of your account. True, the winners would also be much smaller, but that applies to any: High leverage = high risk.
Regarding the above, it is important to also understand that the robot has an integrated compounding formula (profit on your profits) so, even if a small %age of the account is risked per trade and winners are small at the beginning, over time the size of each winner increases since the robot automatically increases lot size (but always operating within the specified risk allowance) as account equity grows.
Regarding the large stop loss. Yes, that is indeed why the strategy is so accurate. For comparison purposes, a strategy that has a much smaller stop loss would in THEORY mean you could use more leverage - even if you use the same leverage as this strategy, a loss would hurt you less. But, a strategy with a much smaller stop loss, say 100 pips, can (and normally does, at some point) have 10-15 consecutive losing trades. Why? Because a strategy employing a small stop loses is a strategy that HAS to be based on one of the following market conditions: ranging or trending.
If reliant on a ranging market it might do VERY well when conditions are right, just to give it all back (and wipe out an account) once the market starts trending (and vice versa).
The objective - the strategy logic of the Forex AutoCash Robot is to withstand change in market conditions... something that most Forex robots cannot do for the reasons mentioned above. However, in trading, there are no “free lunches” so to speak. Hence, for a strategy that can cope with different market conditions, you need a large stop loss and the use of correct money management principles as already stated.
It is also very important to note the use of accuracy within the general logic of robot. The robot sometimes needs to hold positions open for quite some time. This means that once the position is closed, the account is credited with the SWAP interest earned during the trade. This swap interest can amount to a lot since the accounts earn interest on the amount traded (1 lot = $100,000), not the deposited amount. Many traders do not understand this tactic, but it is a profitable one.
Kent, sorry but not soliciting and not recommending. Got a little tired of the robot so went searching in this forum and found a thread about Autopilot, maybe you should check it out also, bought mine today and still playing around with it :-) Warning first !!! ALL and I mean ALL ROBOTS haves DRAWDOWNS including this one. Go poke around. I'm pretty happy with it with plenty of information.
As for the Autocash, like you said, we still have time to justify whether to return or not, meantime, let's just have some fun.............:-)
Your risk, not my gain......heeheehee...
" Every day at 5 pm Eastern Time, " Carry Interest" is tallied up for the full contract amount and posted to your account.
In other words, if at 5:00 you're holding a mini position with positive yield, you'll earn interest on the full 10,000 units even though, at 100:1 margin you only put up $100!
And Wednesday, triple interest will be posted to your account to make up for the weekend... even if you didn't enter the trade untill that day!
So, if Wednesday afternoon you put up $1,000 to buy one full size contract, you could expect interest to be posted to your account before the day is out!
Figuratively speaking, you write a chaeck agaist one bank and deposit it in anouther bank.
All transactions must be settled in two business days. So, Forex brokers automatically "roll" any position open at the end of the day over to the next settlement date.
Since you dont actually have any money deposited in the first bank, you pay interest to borrow sufficient funds to cover your "check". And then you earn interest for having it deposited in the second bank!
When you hold a long position, you earn the interest of the first currency and pay the interest of the second currency; and visa versa when your short.
Exception to the rule.
Accounts leveraged at greater than 100:1 are generally denied the privilage of earning the rollover fee. However, they are charged the cost of carry if they hold their position past 5pm EST. For this reason, usually only day traders elect leverage rates higher than 100:1."
Overnight Libor Rates (17:10 GMT)
USD 6.87500 2.56875
EUR 4.44875 3.71250
GBP 6.78125 5.26250
JPY 1.03125 0.91875
CHF 3.33333 2.54167
CAD 4.50000 3.42833
AUD 6.93750 7.25000
NZD 8.87500 8.68750
I've looked at AutoPilot and ForexTracer. I'm interested in both. AutoPilot doesnt run any stop at all, ForexTracer runs a trailing stop, and increases it both as the price increases and as time goes by, so a flat position will get stoped out. Both are very interesting and only $97 each. There is anouther one I was reading about on the ForexPeaceArmy site, (a good product review site, with free market signals and education). I havent had time to find it yet, but they rated it 5 star, it supposedly has the ability to handle 10 positions at once, across multiple currency pairs.
This is all very fasinating, I'm interested in what fbj wrote about different systems for different conditions. I can tell the system what I want it to look for, long trend trades, short trend trades, long and short range trades, targeted swings, trailing stop trend trades, time frames, etc. I just want to automate the process so I dont miss trades, and can do other things while the computer waches for trades.
I have ForexAutocash running on 2 EURUSD charts in the same platform, both generated trades this morning and are running concurrently. The trades were entered at 15:26 and 15:30. I've requested that they add a comment to the Robot, but now see that They should put the Reference # in the comment field of the trade and trade history screens.
Anyway, I'm using 2 different Reference #s, I just changed the last 2 digits of the original one.
If you want to run the Strategy tester on multiple percentages, you can make the changes in the Start, Step and Stop in the Expert Properties. BEWARE this caused my CPU to overheat and crash my PC several times on Sunday, so you should only set 1 or 2 of the properties (like Risk) to step small amounts.
On your problem with the Expert being closed when you run the Strategy tester, check Tools/Options/Expert Advisors
If the 2nd and 3rd items are checked, uncheck them and check the 1st one. If they aren't checked, then I don't know the cause.
thanks, that's the problem. I still have quite a bit to learn about this platform and these programs, but since you can run two of the autocash program, I should be able to run this robot and anouther robot or two at the same time. That way this could pick up its 1 trade per day and the others could fill the empty time such as overnight. The Forex AutoPilot and ForexTracer programs are both inexpensive and interesting.
Autocash account is definately up today.
I downloaded and installed the GBPUSD Wednesday robot yesterday. I set it at -0.1 to start and changed the EURUSD robot to -0.3. I turned my computer on this morning at 7:36, and it almost immediately open two orders on the GBP. The two orders triggered 3 minutes apart and so quickly they never even logged in the journal or experts folders, and only showed under the trade and account history tabs with an incorrect time. This exceeded my initial risk setting, but both ended positively at 8:08, with 33 and 9 pip gains. At 9:45 I had an EUR order trigger, it closed at 9:50 for a 5 pip gain.
I'm begining to conclude that these robots do work, and they work exactly as the creator says they do. They are not without weaknesses. Occaisionaly, they can have big drawdowns in time, and as we have all heard, and some of us have experienced, they can take a loss. The loss on the EURUSD robot was due to the recent excessive volitility in the pair, which was not programed into the robot. The GBPUSD is naturaly a more volitile pair and that is represented by the larger 950 pip stop loss setting.
I dont like or feel comfortable with these large risk settings, but this is not my usual discresionary trading, where I can choose based on chart patterns and risk reward setups. I think that, depending on how carefull we are with our risk settings and not overextending ourselves in order to try and make a large profit, these robots can be a very useful tool. I'm still interested in how many robots I can layer on top of each other without overloading my computer, as good as these two seem to work they still trade very infrequently, for very small moves.
There is a lot of potential here for robots that trade much more aggesively, around the clock, on multiple pairs. As well as for robots that trend follow, trading infrequently, but holding their trades with trailing stops, potentialy capturing much larger moves. I dont know the true limitations of this mgl4 language, but it should be possible to program a robot that makes those decisions, and adjusts between trailing stops and profit targets, or else uses a combination of both, utilizing a multistep approach, taking partial profits at a target, and trailing a stop on the remainder. The other approach would be to have a fleet of robots and manualy activate and assign individual robots, on a more discresionary basis.
I personaly like the second approach, where the human element reads the market and makes the decisions. Assigning certain robots to capture the upswings in an uptrending market, or visa versa, certain robots to trade back and forth in a trading range, etc. I dont know the methods to program this, but it should be posible to program two robots, one to trend and one to oscillate. Then the operator would simply adjust the trading parameters, long, short, both, and a chosen time frame. Set it on the daily, weekly, or even monthly bars to trade a longer term time frame with a good interest carry, set it on tick, minute, or 5 minute bars to trade a volitile situation, or on the hourly, or 4 hour bars to swing trade.
Ah, so many possibilities. I'm going to go check the hopeless stock market, for the inevitable rally. I have some options to manage. And lots of studying, maybe even some exercise? All before the 3pm school pick up. :)