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TM Econometric Trader MT4

TM Econometric Trader employs the advanced econometric math to identify trend strength and trend direction. The trading principle of TM Econometric Trader is based on mechanical trading. Unlike the typical technical indicators including MACD and RSI applied with traders’ discretionary decision, the mechanical trading generate its trading signals based on the mechanically tuned parameter sets. It is relatively new style of trading comparing to the discretionary trading. However, more and more traders are adopting the mechanical trading system since they can accurately quantify their profitability with simulation results. TM Econometric Trader is a typical mechanical trading system and its entire trading operation is driven by the key profit metrics provided from its built in backtesting. At the same time, the provided visual signals in your chart from TM Econometric Trader allows you to combine typical trend indicators together to filter out any bad trades. Therefore, the main advantage of TM Econometric trader is that you can combine mechanical trading and discretionary trading together for better results.


Main Feature

TM Econometric Trader is a mechanical trading system with the built-in backtesting machine. With this automatic signal generator, you can trade for Forex, Commodity and stocks. However, unlike other indicators, you need to tune the TM Econometric Trader mechanically. Tuning parameters is simple. You only need to concern three parameters mostly. They are Trend period, Take profit and Stop loss. Since any traders need to concern about these three parameters, TM Econometric Traders is in fact quite robust comparing to other complex mechanical trading system, which throws you tons of parameters to tune.


How to Use

TM Econometric Trader is extremely simple to use. You only need to concern three trading parameters including:

  • Trend Period: Typical Trend period
  • Take Profit in pips: Take profit target. Mostly around 30 pips to 80 pips for major currency pairs (otherwise, start around one standard deviation of typical range of the instrument)
  • Stop Loss in pips: Stop loss target. Mostly around 30 pips to 80 pips (otherwise, start around one standard deviation of typical range of the instrument)

The above three trading parameters can have the direct impacts on your actual trading results and the impact will be shown directly in the built in backtesting panel too for your information. Therefore, you need to maximize your profit and minimize your loss in the backtesting first before you actually use the signal generated from TM Econometric Trader for your live trading. TM Econometric Traders is best usable for H1, H4 and D1 timeframes. You may apply TM Econometric Trader to smaller timeframe like M5 or M15 but use your judgement based on its backtesting results. Although the backtesting results do not concern the trail stop loss, we recommend using trail stop loss when your trades have meet sufficient profit. Do not attempt trail stop when the gain is just 1 or 2 pips, then they will just results in a loss from the typical market fluctuations. This is often observed by starters and junior traders. Knowledge of support/resistance levels might be used to improve your trail stop.


Compatibility with other trading strategies

As we have mentioned before, the visual signal generated from TM Econometric Trader allow you to combine it with other manual trading strategies. For example, you can combine TM Econometric Trader with typical trend indicators like moving average or MACD to filter out some of the bad trades. However, many other indicators can be used together with TM Econometric Trader.


Risk Disclaimer

TM Econometric Trader is a mechanical trading system. The best parameters may differ for different symbols and different timeframes. Therefore, please tune the parameters before usage. Forex trading can involve the risk of loss. It is not suitable for all investors and you should make sure you understand the risks involved, seeking independent advice if necessary.


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版本 7.3 - 2017.01.27
In version 7.3, we have changed colour for Stop Loss and Take Profit level. In fact, user can change the colour of stop loss and take profit level for their preferences.
版本 7.1 - 2017.01.17
Following two input variables were removed.

◾Bars: Number of bars to analyze current market outlook.
◾Trigger Percent: Trigger Percent controls when to open trade and it is mostly around 0.1. It can go down to 0.05 (-0.05) but it will often stay between 0.08 and 0.12.

So traders only need to concern Trend Period, Take Profit and Stop Loss only.
版本 6.0 - 2015.03.26
Individual Trading Statistics for buy and sell added on Panel.