Hello world!

Welcome to my Forex Robot Blog! I will share with you my experiences and results so you can have more information to do your own due diligence when it comes to forex trading. I am sure you will learn some new things. Enjoy and I look forward to hearing from you and collaborating with you.

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Forex Trade Using 4xPartner on January 20, 2011

There was good news for the USD this morning at 8:30 a.m. as there were less people filing for unemployment so I went short on the USD since it was good news for the USD. In fact, the news was better than expected because it was much less than the forecasted figure and less than last month’s figures. Therefore there was a larger deviation.

As you can see from this screen shot 4xPartner already closed 1/3 of my position once it reached the target of 20 pips. Now it is waiting to go to Step 1 of 20 or 40 pips (20×2) and close out another 1/3 of my position. Once it reaches this Step 1 of 40 pips, the Stop Loss will move to 22 pips (Safe Amount of 2 pips + Step 1 of 20 pips.)

And now it will wait to see if price can go on to my next target of Step 2 of another 40 pips (20×2) beyond the stop loss of 22 which would mean the price would now be at 62 pips and now the stop loss is brought to 42 pips. Either price will retrace and hit my 42 pips stop loss thereby closing out my last 1/3 position or if price keeps moving in my favor it will keep stepping up using the same formula.

Step 2 Formulas:

(Safe_Amount + STEP_1 + STEP_2 + STEP_2)
(2 pips + 20 pips + 20 pips + 20 pips)

Step 2 Formula for determining stop loss = (CurrentProfit – STEP_2)

Since I am so curious and I hope you are too, I just had to calculate what would happen if price kept moving in my favor especially when these TP’s and Step values are so small anways. I have seen quite a few times that the price of the EURUSD can move 100 pips or more so it would not be unrealistic to see prices go beyond the initial Step 2.

So here goes the calculations for the last 1/3 position. If price keeps moving in my favor now it will keep stepping up using the same formula. And here are the formulas:

(Safe_Amount + STEP_1 + STEP_2 + STEP_2 + STEP_2 + STEP_2)
(2 pips + 20 pips + 20 pips + 20 + 20 pips + 20 pips) = 102 pips and the stop loss would move to (CurrentProfit – STEP_2) or 102 – 20 = 82 pips. Either price will retrace and close my last 1/3 position at 82 pips yielding a grand total of 142 pips. (20 pips + 40 pips + 82 pips) = 142 pips.

Or if price keeps moving in my favor, it will keep stepping up using the same formula which would be (Safe_Amount + STEP_1 + STEP_2 + STEP_2 + STEP_2 + STEP_2 + STEP_2 + STEP_2)
(2 pips + 20 pips + 20 pips + 20 pips + 20 pips + 20 pips + 20 pips + 20 pips) = 142 pips

Now the stop loss will move to 122 pips. So if price retraces my grand total will be (20 pips + 40 pips + 122 pips) or 182 pips. And this scenario can happen as long as there is a big move.

As you can imagine, I am not going to figure out the next set of probabilities because chances of price moving in my favor may diminish due to reaching a major area of resistance or support.

Edit 9:30 am – As you can see from this screen shot, the price retraced and hit my 2 pip safe amount thereby closing out the last 2/3 of my position. By the way, I figured I would use a lower target of 20 pips instead of 40 pips because I knew there was more news coming at 10:00 am that could affect my 8:30 am trade.

I will be placing a trade at 10:30 a.m. when the Home Sales figures comes out and see if I can do better and get all 3 profit targets reached.

I have to say for the record that I love using this software because it has made my manual trading so much simpler and effective. I hope you order it and love it just as I have. Click here to order this highly effective tool called 4xPartner.

Email me if you have any questions on using this software or on anything else you want to know.

Happy Trading!

ForexHosting.com
http://MiamiForexClub.com
http://WealthSecrets.com
(305) 389-0170 cell

Quote of the Day:

When You Hear Something – You Forget It.
When You See Something – You Remember It.
When You Do Something – You Understand It!
- Chinese Proverb

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Are You Realistic With Your Goals?

With respect to trading, it seems I am making around 3 – 8% per month with the robots that work.

My goal for the new year is to accumulate around $20,000 in capital and open 4 accounts with $5,000 in each so I can put the robots that work in them and let them go.

I have tested extensively now in live and demo accounts for the last two years to know which ones are performing and which ones aren’t over the long term.

However my plan will still be to trade using low lots and increase them over time. What I have noticed is that some produce 30% a month however if you use too large of a lot size and the market changes drastically, then the drawdown gets to be too much for the balance and then a margin call is issued.

My conclusion after two years of trading is that I’d rather make
a stable 3-8% a month then 30% for a few months and then loose
it all back to the market.

What happens to most people is they want forex to replace the income from their day job or business with a very small investment of only $1,000 . And frankly that is not realistic. Suppose you are an executive making $150,000 a year and your take home pay after taxes is $120,000 or $12,000 a month. Do you think forex can make that for you month after month with perhaps just $10,000 in investment capital? It just isn’t realistic and that’s why people over trade or over leverage their accounts. They get anxious and impatient. I know because I thought like this before until the market taught me otherwise. ;-)

I believe you can replace that kind of income with perhaps $100,000 in investment capital and you are trading conservatively. You just have to accumulate the initial $100,000 in capital and have the wisdom to know what you are doing with respect to trading. And that’s not all….it’s still going to require your time, energy, patience, resolve and a positive mental attitude to make it happen. A little luck wouldn’t hurt either! :-)

However you know what they say about luck. “Luck is when preparation meets opportunity.”

I hope this information helps, informs and inspires you.

I know it does for me. ;-)

Mike

Some interesting quotes I found the other day that you may like:

“There are only two tragedies in life: one is not getting what one wants, and the other is getting it.” – Oscar Wilde

“Learning preserves the errors of the past as well as its wisdom.”

“It doesn’t matter how efficiently you paddle, you will never reach your destination if you are on the wrong river.”

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Professional Metatrader Hosting

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We wish you well in trading and if you have any questions whatsoever, please call me at (305) 389-0170 cell or email me.

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How To Get Started Trading Forex in Zulutrade

How to Get Started Trading Forex Using Zulutrade

If you are new to trading forex and don’t want to bother with knowing how to use robots and hosting etc. then there is an alternative that you may like. This company offers a free service that automatically places forex trades for you by various forex providers or systems.

I use robots and find that it takes quite a bit of work, knowledge, experience and patience to keep renewing outdated robots, making sure that my VPS is up and running and not running out of resources etc. It is because of those reasons that you will want to use Zulutrade as part of your trading tool belt or portfolio. You too will really like Zulutrade and find it to be profitable and fun.

Here is my new video showing you how to get started trading forex using Zulutrade and suggested settings. To sign up for a free demo or live account at Zulutrade, please visit http://ZulutradeSignup.com.

[youtube=http://www.youtube.com/watch?v=_ORIbQq96Ek]

However if you still want to trade using robots as part of your trading tool belt, then you may get more information on robots being tested in live accounts by visiting http://WealthSecrets.com.

Feel free to email me to collaborate and share information with each other so we can both be more profitable at forex trading.

Thanks for watching my video. Please feel free to comment if you would like.

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FapTurbo and Forex Funnel

FapTurbo is a forex robot. http://www.forexautomatedrobot.com
They have great customer support, a forum for users and the robot is easy to install.

It trades the EURCHF, EURGBP, GBPCHF and USDCAD right before
the Asian session…late afternoon to early evening 4 pm to 8 pm EST or
20 to 24 GMT. It trades more than Megadroid. About 3 trades per night if trading all 4 pairs. The GBPCHF barely gets traded because the spreads are usually very high around 8-10 pips and FapTurbo avoids trading on pairs with more than 5 pips spread.

Just another tool for your forex tool belt. I have FapTurbo in a live account in Forex.com UK and FXCM UK. However it’s a slow grower.

I am currently testing other robots in demo that make much more money. However I am watching how they behave and testing them to the limits and then backing them down to get consistent profits. I should be going live with one of them very soon.

Don’t get Forex Funnel. It took a big chunk out of my account. It works great when it is trending down but when the trend changes…watch out! You can have some potentially large losses because it scales in with larger positions. Also the take profits are modified to accept a loss because it thinks the pair won’t come back into profit. So when the USDJPY starts to trade back in the direction towards profit, the robot does not modify the take profit back to profit thereby allowing the account to take those losses. What irony… all that drawdown goes in vain. Maybe the robot is set up to take a loss rather than a larger one if the pair does not go back into profit direction. Too many losses and too much stress for me to handle and a lot of baby sitting. Kind of defeats the purpose of having an EA do the trading for you. Right?

For right now, I prefer to have the systems at Forex System Selector and Zulutrade do the trading for me while I learn to manually trade.

Contact me if you have any questions on the systems I am using there.

Till next time…happy trading!

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FapTurbo update July 25, 2009

Here is response to someones email about FapTurbo that I thought would do well here on my blog.

“Thanks for contacting me. It’s always a pleasure discussing forex and collaborating with people around the world.”

Yes…I have FapTurbo too and it’s been a challenge getting it to
produce consistent results. For the last few months, I have been
only trading the EURCHF. However recently I decided to give EURGBP another try by tweaking the start times and end times.

On the EURGBP, I set it to Start time 20 GMT and End time 23 GMT. I have noticed that trades after 23 GMT usually result in a loss because 23 GMT is 8:00 AM in Asia. And that’s when their market is starting to heat up therefore causing major moves on many pairs especially EURGBP, GBPCHF and USDCAD. Therefore the other pairs GBPCHF and USDCAD are just too volatile for FapTurbo in my opinion.

With EURCHF I have it set to low lots. I trade around 1 mini lot. And EURGBP about .01 (1 microlot) while I am tweaking it.

This EA is a slow grower if that…and that may be saying too much because sometimes the losses outweigh the gains. This EA is a scalper with a very high risk to reward ratio. You figure 5 pips potential gain with a potential loss of 50 pips.

I have the Megadroid and usually gets about 4 trades a week, one per night. Monday through Thursday. Sometimes there are nights that there is not a trade at all. Again this a scalper but with a little better risk to reward ratio and seems to be more accurate. It trades the EURUSD, a pair that is a lot less volatile. It usually gains around 10 pips a night.

I know these sound like small numbers but I figure if you can gain 10-20 pips without doing anything at all, it’s not bad.

Are you trading the Long Term strategy with FapTurbo? Be very
careful if you do because it has a take profit of 140 and stop loss of 500. I lost big chunks of my account with that strategy. What I am doing now is that I trading it now but with low lots (.05 mini lot or half a mini) with take profit of 20 and stop loss of 100. This last week I gained 205 pips then lost 102 pips (100 pips stop loss with 2 pip spread) with transaction #6151908. The total net gain was however $39.87. It would have been more but I had it set to .01 lots at the beginning to test the strategy and then I increased it to .05.

The loss on #6151908 was due to big move on the DOW on Thursday with all the good earnings announcements and also better than expected home sales.

Here are my long term strategy trades last week. Up net $39.87. It would have been more had I been trading larger mini lots like the .05 trades at the top of the table below instead of the .o1 trades at the bottom of the table. Plus I had enabled the 5 pip trailing stop at the beginning and it did not work well because the stop was brought up all the way to close to entry or where the price action was. So the trailing stop in the EA did not work too well. It probably kept me out of some trades going bad but did not allow the take profit to be realized.

 

6119560 2009.07.22 16:08 buy 0.05 eurusd 1.42206 1.42513 15.35
6102102 2009.07.22 01:56 buy 0.05 eurusd 1.41890 1.42290 20.00
6151908 2009.07.23 15:34 buy 0.05 eurusd 1.42783 1.41758 -51.25
6092013 2009.07.21 18:31 buy 0.05 eurusd 1.41841 1.41991 7.50
6091031 2009.07.21 17:54 buy 0.05 eurusd 1.41763 1.41830 3.35
6052883 2009.07.20 13:41 buy 0.05 eurusd 1.42400 1.42540 7.00
6048215 2009.07.20 09:46 buy 0.01 eurusd 1.42396 1.42420 0.24
6046910 2009.07.20 08:58 buy 0.01 eurusd 1.42221 1.42320 0.99
6043999 2009.07.20 07:37 buy 0.01 eurusd 1.41808 1.41880 0.72
6038020 2009.07.20 01:41 buy 0.01 eurusd 1.41738 1.41830 0.92


If you notice a lot of the following losing trades took place after 23 GMT which is 8:00 am Asia time.


4567648 2009.05.12 22:29 buy 0.10 usdcad 1.16155 1.15555 -51.92
4260208 2009.04.23 23:45 buy 0.10 gbpchf 1.69143 1.68424 -62.64
4259539 2009.04.23 23:15 sell 0.18 eurgbp 0.89288 0.90297 -265.49
3963128 2009.04.08 00:08 sell 0.08 usdcad 1.23757 1.24338 -37.38
3929477 2009.04.06 23:40 buy 0.11 eurchf 1.52281 1.51718 -54.49
3632463 2009.03.24 00:23 buy 0.29 eurgbp 0.93475 0.92288 -507.38
3018291 2009.02.25 00:02 sell 0.17 gbpchf 1.68307 1.69059 -109.82
2691592 2009.02.10 00:25 buy 0.12 eurchf 1.51156 1.50610 -55.99
2358934 2009.01.14 00:00 sell 0.37 eurchf 1.47639 1.48182 -180.11
2343288 2009.01.13 00:23 sell 0.35 usdcad 1.21846 1.22439 -169.51

Well I hope I was able to help you in some way.   I gave you plenty of information to ponder.  ;)

Well enough of all that negative stuff. On a positive note, I am using Zulutrade and am doing much better.  I invest $5,000 at the beginning of July and I am up $1,000.  That’s a 20% return.

I am testing some other robots and will keep you posted of their
results.

You can sign up for a free demo account at
http://successwork.zulutrade.com and test out some of their systems.  I am trading 4 systems and seem be doing well
so far.

What are you goals if you don’t mind me asking?  Are you looking to invest a little money with forex to see how it goes?

With warm wishes from Miami, FL

Mike Torres
Miami, FL
(305) 389-0170 cell

http://BestForexVPS.com

http://ForexRobotBlog.com

http://www.WealthSecrets.com

http://successwork.zulutrade.com

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Is Megadroid a MegaDud?

No not really! It just doesn’t place a lot trades from what I have noticed. But when it does, they are pretty accurate and productive. I call this a slow grower. If it places 4 positive trades a week, you are doing good. If you have a small balance and your trading 1 mini lot, yes…it can be a little frustrating to see the account grow so slowly. But like I always say, it’s better to get rich slowly than to go broke fast.

Now if you had a bigger balance of $10,000 or more and can trade 1 lot then fine…you will see 10 pip trades make you $100 a night instead of my $10. I was about to call it measly but no… I am not going to. I see it this way…it’s better than nothing and definitely better than a loss. So I will be happy and grateful. Namaste.

A friend of mine recently sent me a screen shot of his chart and transaction history with no trades since installing Megadroid last night. He was wondering why his Megadroid hasn’t traded yet and here is what I responded with. This may help you as well if you are as frustrated as he is and as I was.

I told him, “Look at what? nothing? I guess that’s what you want me to notice?” “That nothing happened with Megadroid?”

I told him that Megadroid barely opens trades. But what’s more strange is that it opened one in my live FXCM for a profit of $10 with 1 mini and it opened one in my live Forex.com for a profit of $20 with 2 minis. Good night. Wish it was more. And it will be with time. We just have to be patient.

In his screen shot I do see that he had the smiley face and that he does have the new version 1.1. Strange. What could it be?

The only thing I can say is check your spread at around 4-6 pm when this things trades to see if the spread is wider than 3 or so. It shouldn’t because it is EURUSD and usually the pair stays around 2. However I wonder with these 5 decimal brokers. If the robot says don’t trade if the spread is over 3 and the spread is 3.5…guess what no trade.

With these 5 decimal brokers you have to whip out the calculator (at least for me believe it or not) because it is harder to calculate then 4 decimal.

Also what could happen is that the broker platform disconnects at the time that Megadroid trades. Highly unlikely…but possible.

Also check your Journal and Experts tab at the bottom for info. It’s amazing to see what the robot is doing and analyzing by seeing what is written in there.

We will check tonight and we will see.

I hope this post was useful to you and was helpful in easing your frustration. Good luck and I hope you get some Megadroid trades.

If you haven’t purchase this consistent expert advisor yet, please order at MegadroidRobot.com

If you would like to share your experiences with me or to collaborate, just email me at Mike@WealthSecrets.com I would love to hear from you. This way we both learn from each other and become more profitable traders.

Thanks for reading.

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FapTurbo, Megadroid and Gridzilla Update July 6, 2009

I am only trading the EURCHF at a LRR of 10 now.

The other pairs were not producing consistent results
so I decided to not trade them for awhile.

I am trading the Megadroid and Gridzilla.

Here is a Megadroid Live Results of my live results using Megadroid

And here are my live results for Gridzilla:

http://www.myfxbook.com/members/wealthsecrets/gridzilla/6639

If you are interested in ordering Megadroid, click here.

Email me if you have any questions or comments to

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ZuluTrade – Top Forex Signal Providers For Month Ending June 15, 2009

ZuluTrade – Top Forex Signal Providers For Month Ending June 15, 2009

LowestDD 1594 pips
Big Win 990 pips
Beyond Parity 469 pips
GeppyScalper 329 pips
Fxsecurityprofits 318 pips
Real Conservative Trading 281 pips
Hidalgo 241 pips
OnlySunnyDaysFX 110 pips

Worst providers

Fx Fila Pea -1964 pips
Dagger -481

For up to date information on what systems I am using currently, please visit http://ZulutradeResults.com

To try the above systems in demo, register for a free demo account at Zulutrade

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