Top 5 Forex Robots Of 2010
by Guest Author on October 6, 2010
in Forex Robots
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If you are looking for the best forex robot than you must read this article. FAP Turbo is still going strong. Forex MegaDroid is one robot that shows it’s live trading account online on the website since it’s launch in the beginning of 2009.
Previously most of the forex robots used to have a few hundred lines of codes in their programs. But Forex Bulletproof has around 4,000 lines of codes that the developers allowed everyone to get a glimpse of. Another very good forex robot is the Forex MegaDroid developed by John Grace and Albert Pierre. This robot is also showing consistent performance and you can read the live trading account statement on the website of this forex robot. It had made 2,300% NET PROFIT in 2009 alone averaging something like 200% each and every month throughout the year. This was something remarkable. It trades the EURUSD pair only.
Recently, Mark Roth, a hedge fund trader released his Forex Robot, The Event Forex EA, This robot was able to convert $10,000 initial deposit into $13 million in 8 consecutive years without getting a single margin call. It made $65,862 in just one trade. This robot is creating a lot of buzz. All the copies of this robot were sold out in the first few hours of the launch. With the passage of time, forex vendors are now more and more relying on the live trading results of their forex robots. The days of showing back testing and forward testing results on the websites are gone now.
Forex Automator Pro developed by David Fields turned a $50K deposit into $1.5 million. This gives a return of more than 3,000% something really astounding. David Fields shows performance of his robot on his website.
Forex scalping has been the most popular trading strategy among the forex robot developers. The reason can be the ease of making scalping trades. Scalping can be done almost anytime of the day. But, there is always a risk in scalping as most of these robots don’t use any stop loss when they enter into a trade.
But John Wilson also has a Forex Supersonic EA that automates his manual trading strategy. This breakout trading strategy is making a lot of ripples in the forex community.
To succeed with these EAs, you need to understand something about forex trading and how the currency market behaves. The performance of these EAs naturally is highly dependent on their settings. What you need to learn first when you trade with these EAs is how to optimize their settings.
Drew Collision had been trading for the last 26 years without any success. Over those 26 years, he had traded with 533 different trading systems and had failed with them all. One day, he met a multi millionaire forex trader during the train journey. That trader gave him a few tips on a glitch This glitch let me develop an algorithm that eventually made a winning forex robot that Xtreme Pip Poacher!
Xtreme Pip Poacher does not use scalping like most of the other robots. It uses swing trading strategies. Whatever, 2010 has seen the release of some of the most exciting forex robots. In 2011, it is expected more and better robots will be released.
Mr. Ahmad Hassam has done Masters from Harvard University. Discover a Forex Robot that made 2,300% NET PROFIT in 2009 and download the Forex Auto Detector Software FREE that can increase the profitability of any forex robot by 53% and more! Try Sniper FX Signals and trade with Mr. John Seely, a renegade forex millionaire.
categories: forex robot,forex robots,forex trading robot,forex trading robot,forex robot trading,forex software,forex signals,forex system,forex trading system,automated forex trading
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Gold Prices And Forex Trading
by Guest Author on October 5, 2010
in Forex
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US Dollar is only backed by the full faith and credit of the US Government. Most of the currencies in the world are free floating now. Many countries are also purchasing gold in the open markets as a hedge of their foreign reserves most of which are in US Dollar.
Many forex traders don’t know this fact that there are a few currencies in the world that show a strong correlation to the gold prices. If the gold prices go up, these currencies appreciate and if the gold prices go down, these currencies depreciate.
One of the currencies that is strongly correlated to the gold prices in the international markets is the Australian Dollar (AUD). Australia is a major producer and exporter of gold in the world. No doubt, AUD shows a strong correlation with the international gold prices. Now, gold is also known as the Anti Dollar.
On the other hand, USD has an inverse relationship with gold prices. Gold prices rise, USD falls in value. This causes the currency pair AUD/USD to appreciate in value when gold prices rise.
When both gold and oil are commodities, we use CCI for trading crude oil but why don’t we use CCI for gold as well? Why is that we are using RSI now?
CCI gives a quicker signal. This is good for relatively less volatile pairs like USD/CAD. Whereas RSI gives slower signals, this is ideal for more volatile pairs like AUD/USD. It all depends on how quickly the two indicators react to volatility.
Enter a long trade on AUD/USD if the gold prices are rising and the RSI is crossing back above the 30 line. On the other hand, enter a short trade on AUD/USD pair if the gold prices are declining and the RSI is crossing below the 70 line.
What should be your stop loss and the profit limit order. Your stop loss should be 50 pips so that you don’t get out of the market just because of the noise. On the other hand, your profit limit order should be 200 pips. This will give you a nice risk to reward ratio of 1:4. Now, when you have entered the stop loss the trade went your way, you should replace the stop loss with a trailing stop loss of 50 pips. This way if the price action retraces itself more than 50 pips, your trade will be closed automatically.
50 pips stop loss means a $500 loss if the trade does not go in your favor. It is not uncommon to have a trade go against you only to find yourself right back in trade that goes your way.
Mr. Ahmad Hassam has done Masters from Harvard University. Get these Forex Scalping Cheatsheets plus the 10X Scalping System by Jason Fielder FREE. Get Forex Training from Bob Iaccino a vetern trader of 17 years and who regularly appears on CNBC, FOX Business, Bloomberg, CNN Money for $7 only!
categories: swing trading audusd, swing trading forex with gold, audusd trading strategy, audusd swing trading strategy, gold prices and forex trading
Trading The News Releases With Dustin Pass
by Guest Author on October 4, 2010
in Forex
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Many traders stay out of the market when fundamental news release is made. At the time of the release of fundamental economic reports like the NFP Report (Non Farm Payroll Report), the FOMC Meeting Minutes USD becomes highly volatile. In the same manner when the UK Retail Sales Figures are released the USDGBP or the EURGBP pairs shows a lot of volatility. Similarly when the Canadian Employment Figures are released USDCAD pair becomes highly volatile.
But there are traders who call themselves News Traders who have made a fortune out of trading news. Yes, this is true!
You have no idea where the market will be in the next few minutes. At the time of the news release, the liquidity dries out. So most traders prefer to stay out of the market at such times. Now, within minutes the market can move hundreds of pips.
This calendar of major tradeable news from these important countries can be real helpful to you. You see USD, GBP, CAD, AUD, NZD are all highly lucrative currencies that you can trade throughout the month according to the calendar of the major tradeable news releases.
What Oracle Trader software does use a high speed price feed to compare the actual price after the news release with the expected price that the analyst had thought it would be.
If the news release has nothing unexpected in it, the markets will not show much reaction to the release as almost all the information that was released was already known and impounded in the currency pair price. The magic happens when there is a lot of unexpected in the news release. This makes the markets jittery.
If the actual news release and the expected news release are close, the market will not react much as everything has already been figured out. But suppose, there is a wide divergence between what the market was expecting and what the actual release was.
If you can master News Trading like Henry Liu and Dustin Pass, you can also make a fortune!
Mr. Ahmad Hassam has done Masters from Harvard University. Download the Oracle Trader Software by Dustin Pass FREE! Meet the Newsprofiteer Henry Liu and download his News Trading Cheatsheets FREE!
Gold Prices And Forex Trading-How To Trade AUD/USD?
by Guest Author on October 3, 2010
in Forex
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US Dollar is only backed by the full faith and credit of the US Government. Most of the currencies in the world are free floating now. Many countries are also purchasing gold in the open markets as a hedge of their foreign reserves most of which are in US Dollar.
In the present financial crisis with the global economy in recession, many investors are trying to take refuge in gold as the ultimate safe haven of their wealth from financial turmoil.
The more money that gets printed, the more it loses value. So, in the last few years investors and countries all over the world have been buying gold. Gold is still considered to be the Ultimate Currency. Investors run towards gold in times of financial stability like the present. Countries like China, India and Russia are selling there USD reserves in the international markets and hoarding gold as a hedge. This is driving the gold prices in the global markets higher and higher. Recently, gold prices hit the historic mark of $1,300 per ounce.
Now, Australia is one country that is a major producer and exporter of gold. What this means is that the Australian Dollar (AUD) is strongly correlated with gold prices. Gold prices go up, AUD appreciates and when gold prices go down, AUD depreciates.
When both gold and oil are commodities, we use CCI for trading crude oil but why don’t we use CCI for gold as well? Why is that we are using RSI now?
Entering a trade to follow gold is a three step process. Use RSI (Relative Strength Index) as the technical indicator to trigger the trade.
Now, you know both AUD/USD are strongly correlated. When gold prices are in an uptrend, you must expect this pair to be in an uptrend too. The important thing is when to enter that trend and when to exit. For that we will be using the Relative Strength Index (RSI) Indicator. RSI will give the signal when to enter the trend and when to exit.
First we need to confirm the uptrend in the gold prices. Use moving averages to confirm that there is an uptrend in the gold market. Now, use the Seven Period RSI Indicator on your daily AUD/USD chart. When RSI crosses below the 30 line and then crosses back above the 30 line, enter a long trade. In the same manner when the RSI moves above the 70 line and then falls below the 70 line, enter a short trade.
Enter the long or short trade with a stop loss of 50 so that you don’t get out of the market just because of the noise. Your Profit Limit Order should be 200 pips. This will give you a risk to reward ratio of 1:4. Not bad, huh! Anyway, if the trend continues, you can replace the static stop loss with a trailing stop loss. This way, your profit gets locked in and you can continue riding the trend as long as it exists. When the trend is going to reverse itself, you will be taken out of the trade automatically by the Trailing Stop!Good Luck!! This is the best time to trade the lucrative AUD/USD pair as the gold prices are in an unprecedented uptrend that is expected to continue for a long time.
Mr. Ahmad Hassam has done Masters from Harvard University. Learn this powerful Fibonacci Retracement Method FREE that pulls 500+ pips per trade. Get these Forex Scalping Cheatsheets FREE!
How To Trade Channel Breakouts
by Guest Author on October 1, 2010
in Forex
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Channel Breakout trading if done correctly can make you a lot of pips. Breakout trading is always a highly profitable strategy. A channel is basically two trendlines that can be drawn to encapsulate price action. You can also take a channel as a range between the support and resistance levels between which the currency pair or for that matter a security has been trading. A channel can be horizontal, ascending or descending.
When the price action bursts out of the upper channel, it will tend to move in the upward direction and in the same manner when the price action bursts out of the lower channel, it will tend to move in the downward direction.
It is always good to place the entry and exit stops close to these channel lines to be on the safe side when trading channel breakouts.
Another good rule to follow in trading channel breakouts is to only trade upside breakout on a descending channel and downside breakout on an ascending channel.
In the same manner, in case of a channel formed with a descending slope, always trade only the upside breaut as the chances of it’s success are higher as compared to a downside breakout that can be false most of the time. In the same way, never trade an upside breakout on an ascending channel. The chances of it’s being false are higher as compared to a downside breakout.
Now, first you need to identify the channel on an hourly or daily chart. Then you should confirm price momentum with MACD ( Moving Average Convergence Divergence) or RSI ( Relative Strength Index) indicators.
Place a market or stop entry price order just a few pips away from the breakout. This is done so that you don’t get entered into the market at a wrong price. When a breakout takes place, expect a lot of volatility in the market and there can be a lot of slippage. You need to ensure that you don’t get entered in the market at a wrong price. Whenever trading a breakout, if you can predict it’s direction correctly, you can make a fortune.
When you have identified a channel and when you are expecting a breakout, enter the market with a Stop Entry Price Order just a few pip away from the breakout. So, if the market moves very fast and there is slippage, you don’t enter the market at a wrong price that makes your channel breakout trading strategy simple useless! Good Luck!
Mr. Ahmad Hassam has done Masters from Harvard University. Download this highly profitable Magic Breakout Forex Strategy by Tim Trush and Julie Lavrin FREE. Get these 3 Swing Trading Systems FREE.
