Forex System Auto Trading

Warren534_FuturesTrader April 25th, 2010 at 8:28 am

I have a very sound trading system, but it would take considerable time and effort to teach it to you. There are no easy answers when it comes to learning how to trade. You need to learn a lot of the basics, and since I don’t know, I have no idea what you know or don’t know. Also, you would need to explain your financial situation, how much capital you have available to trade, and what your risk tolerance is. Most importantly, I can teach my system, but I can’t teach you my guts or psychology. It’s quite possible that you have a personality that is suited to trading, but then again, your personality type may be quite incompatible. Feel free to email me to continue this discussion.

Stock Trading Warrior April 25th, 2010 at 8:54 am

Hi Vini-T

I hear your pain, my friend and I’m sorry hear the word “desperate” in your question!

In my opinion, stock trading is 50% trading system/strategy and 50% the personality/discipline of the trader.

Having said that, there are strategies that work. Swing trading is a fairly sound trading system that can be successful. It’s based on buying stocks that have price momentum going, waiting for the stock to pause (pullback) and provide a signal of renewed price strength (price + volume). Take a look at swing-trade-stocks.com. I am not affiliated with the site.

I’m not a professional trader. However, I’ve been an active trader for over 13 years and have done very well – even in late 2008 (on the short side) when the markets took a giant dump. Like Warren said, it takes time to incorporate all that it takes to be successful at trading. It takes a good eye for patterns and a broad understanding of what the market and stocks are doing. I judge all of this using technicals and apply strict discipline to trading. I don’t speculate or wish or hope or dream…. I use technicals to tell me what a stock is doing. Are you?

For Forex, have you looked at using the ADX? Actually, I use ADX with all of my equities trading to get a sense of the momentum of any stock price and found it to be very helpful combined with other technical, price and volume indicators.

A sound trading system also incorporates risk/money management.

Also, are you tracking the DJIA’s directional movement?

Remember, no system works all the time, but if you have the desire to be successful at stock trading, you can do it.

Peter Zeller April 25th, 2010 at 9:43 am

A few software for Forex will produce you a nice income over a few months. All you will have to do is sit back, relax, and watch the money come in daily. Humans can have breakdowns because of stress, as a robot will not. The robot will run constantly and do its job day after day without tiring. Furthermore, the robot will do its job and not complain or charge you for the service that it does for you. Now if you were to try to hire a broker or a brokerage firm to do the investing for you. You would have to pay them and then listen to their excuses. Forex trading automatic software does not require a fee and there are no excuses for why it did not produce any profits for the day.

RFITZ2010 April 25th, 2010 at 11:31 am

The reason why traders fail is that the ‘Trading system’ or methodology they employ does not fit their personality. You have to address this first otherwise you will constantly override said Trading System.

Some sound Trading Systems in use? Depends again on your timescale, which pair, which index, but they are simple. Like taking 1 simple moving average (e.g. 200, 100, 10) and buying or selling as price crosses, or entering the trade on the open of the first bar above/below Ma line. Build in some profit rules and loss rules. i.e. no trades around news releases/speeches, no trades holidays, no trades at major support/resistance, no trades in major political news. 3/2 to 1 risk reward. Long term this 1 simple cross method works, look to history, and work out the best time-frames.
Don’t take 2 or 3 moving average crosses long term as they are lagging indicators, look good historically but real time hard to trade.

Look to probabilities and history i.e. how much does a Forex pair or Dow move (points/pips) daily, weekly. You will be surprised just how many times a Forex pair moves within a set pip range. Play those odds but with strict money management. Don’t gamble, pro traders won’t risk more than 1% of funds on any trade. (Don’t gamble or over-trade http://www.wheresmystop.com )

Price channels – break of, learn how to draw. Daily this works, lesser time frames need a lot of experience. Day trading or scalping might not fit your personality or brokers T & A’s. ( Lots of free stuff on internet, http://www.marketwatch.com charts etc)

Flights to safety on political reaction, resignations etc. Learn how this affects the market. We can see how the currency marketed reacted to the Financial crisis. Learn it, use it, if Bernanke resigned and you know how to play it’s simple.

Robots, Holy Grail systems advertised don’t touch.

Trading is frustrating, emotional and it’s marketed as easy but it isn’t. If it’s money you can’t afford to lose don’t trade Period. You will not succeed until you understand how you want to trade then you can find a trading system or style that suits you.

raysor April 25th, 2010 at 11:54 am

Believe me there is not a ‘system’ that works consistently. If you do happen to find one I will program it for you, let’s say for 10% of the winnings, into your PC. Then we can just let it run while we sit back swigging large gin & tonics, somewhere nice and warm, and let the money roll in.