Inside Day Breakout Strategy Forex Expert Advisor - forex trading sms tips

Inside Day Breakout Strategy Forex Expert Advisor ~ forex trading sms tips

Here is a Expert Advisor (EA) based on the Inside Day Breakout Play Strategy adopted from Kathy Liens book, "Day Trading the Currency Market."

Again, due to copyright issues, I will not explicitly list out the rules for this strategy. You can purchase your own copy of her book to read in depth more about this strategy. And yes, this strategy works

The strategy is based on volatility. Essentially, after two quiet days of little price movement, we expect a huge breakout. The EA will ride on this break out trend. We check for two days consecutively where each day is an inside day. This means that the days low and high are inside the previous days low and high.

Heres an example. Click to expand.

Here are the results.

Pair: EUR/GBP
Lot size: 1
Chart: Daily
Initial Balance: 10,000 USD

2010, 77.3% yield

2009, 44.8% yield

2008, 51.9% yield

2007, -4.65% yield

2006, -8.5% yield

Additional currency pairs which would work well for this strategy would be USD/CAD, EUR/CHF, EUR/CAD and AUD/CAD for they are tighter range pairs and thus result in less false breakouts.

Get the Inside Day Breakout Strategy Expert Advisor Here.

You can optimize the source code in anyway you want! 

Full money back guarantee within seven days if you are not satisfied.

Disclaimer: Do know that forex trading involves extremely high risks. While there are profits, there are times of losses too. I do not guarantee success using this EA and absolutely will not bear any responsibility for any losses that you make. You should be doing lots of back and forward testing on your own before trading with real money! 

More info for Inside Day Breakout Strategy Forex Expert Advisor ~ forex trading sms tips:

Read More

Simple Forex strategies - forex trading losses tax

Simple Forex strategies ~ forex trading losses tax

I haventt recently updated this blog because, i am currently more focused on Stock Market, and system for sports betting which i recently created. When i will finish it, i wil give you link to this system, i suppose it will be free till the end of the season.

Anyway, simple forex strategies, what i mean by that? In my mind these are strategies that are very simple :). I often see guys with super advanced entry strategies. They use MACD, RSI, ADX, 10 different MAs and EMAs, Fibbonaci retracement, Elliot Waves to predict the best entry point.

I think its funny.

Because often these guys do not realize that actually there are only two types of indicators.

• Trend following - indicates whatever Market is in up or down trend (MACD for example)
• Momentum - tells you if Market is overbought or oversold (RSI)
  

There are also Volume and Volatility indicators but they are not suitable for Forex market. So if you use more then 2 indicators then you can right now narrow your choice down to only two.

How many oscillators do i use? I use none or zero, so in my mind forex strategy with 2 indicators is still complex strategy. Traders often say that you need a lot of indicators to get rid of false signal. But what i found out when i started using many tools was that i got as many signals that i should take LONG position as for SHORT position. So, keep in mind the old saying: sometimes less is more.

After eliminating all oscillators we are left with very simple tools:

• trend lines, as well as support and resistance levels
  
• Fibbonacci retracement

When i trade Forex i also use two other tools the are not as much popular as MACD, RSI but they work for me.

• Andrews Pitchfork
• Standard Deviation Channel

All of them, help me to determine trend, because what forex trading really comes down to is:

Determine trend, but do NOT try to predict future, it is impossible. determine trend based on what you already have on the chart. There are at least three types of trend: up, down, consolidation, i think i already said it, but it is worth repeating over and over.

Determine Take Profit and Stop Loss, GO IN. Thats it.

Ok so to sum this up. You can build a very complex strategy or system if it works for you, it didnt work for me at all. But remember, do not underestimate value and importance of very simple tools like trend lines, fibbonacci retracement and standard deviation channels.
More info for Simple Forex strategies ~ forex trading losses tax:

Read More

Perfect Order Strategy Forex Expert Advisor - forex trading tips today

Perfect Order Strategy Forex Expert Advisor ~ forex trading tips today

Here is an Expert Advisor (EA) based on the Perfect Order Strategy adopted from Kathy Liens book, "Day Trading the Currency Market."

Due to copyright issues, I will not explicitly list out the rules for this strategy. You can purchase your own copy of her book to read in depth more about this strategy. But what I want to say is, this strategy works.

The strategy is based on the moving averages of the 10 sma, 20 sma, 50 sma, 100 sma and 200 sma being in perfect order, i.e. 10 > 20, 20 > 50 etc. to constitute a buy order (the converse works for a sell order). In additional, ADX has to be sloping upwards. I have further added additional filter conditions like MACD/Stochastic Oscillator main line being above signal line for optimization.

Heres an example. Click to expand.

Here are the results.

Pair: EUR/USD
Lot size: 1
Chart: Daily
Initial Balance: 10,000 USD

2010, 77.3% yield

2009, -95.7% yield

2008, 90.8% yield

2007, 55.3% yield

2006, 1.56% yield

2005, 14.9% yield

2004, 28.3% yield

2003, 143.5% yield

2002, 42.0% yield

Additional currency pairs which would work well for this strategy would be USD/CHF and USD/CAD. The EA works well on a 4 hourly chart as well but it worked better on a daily chart. Do take note that a perfect order is quite rare and dont expect to be entering trades every week or even every month. But with patience to wait for this rare occurrence, the risk return ratio is very good.

Get the Perfect Order Strategy Expert Advisor Here.

You can optimize the source code in anyway you want!

Full money back guarantee within seven days if you are not satisfied.

Disclaimer: Do know that forex trading involves extremely high risks. While there are profits, there are times of losses too. I do not guarantee success using this EA and absolutely will not bear any responsibility for any losses that you make. You should be doing lots of back and forward testing on your own before trading with real money! 

More info for Perfect Order Strategy Forex Expert Advisor ~ forex trading tips today:

Read More

How to make perfect entry point on Forex - forex trading tax philippines

How to make perfect entry point on Forex ~ forex trading tax philippines

If you find out that you make trades to early and before price starts moving in your direction the stop loss is already hit. The source of this problem is you are probably using to big timeframe. Don’t get me wrong on this one it is not that you need to change it, but you need to focus more on last candles, you are to concentrated on overall picture.

Anyway if you find yourself doing such trades then do not worry, this is easy to handle I had the same issue when I started trading.

Let’s break it down.

First of all your chart interpretations are ok. You make good trades but to early. So next time try this simple strategy.

After selection of new trade, find smaller trend in opposite direction and wait for reversal, when you will be sure that smaller trend is reversed make your trade. Sure you will loose some pips by getting late in to trend, but trust me there is no better point of entering the trade.

But what is the trend reversal confirmation?

Basically it is when you have more evidences that trend is reversed I won’t talk more about it now because this is covered in my other article, besides you probably have some techniques to determine trend reversal on Forex.

More info for How to make perfect entry point on Forex ~ forex trading tax philippines:

Read More

The 95 of all Forex traders fail Lie! - forex trading tax malaysia

The 95 of all Forex traders fail Lie! ~ forex trading tax malaysia

I refer 95% lie to sentence: “95% of traders fail”. Although this are calculations made by brokers, based on their account history. I suppose those are accounts that were blown out by newbie traders.

Anyway I have to admit that it is true that 95% of account ends up empty within less then three months. But hose who were trading them … were they really traders? I think not, in my opinion they were gold diggers or just uninformed fools.

It happens often that after forex success story in newspaper or magazine, people without knowing anything about forex think: “Hey this is easy way to make money! If that guy in the newspaper made millions, I can make at least few thousands I am not stupid”. I don’t have to tell you how wrong this guy is. He takes loan, and starts trading, within 3 months he has got no money but a big loan to pay.

I believe this are the people who goes by 95% rule. But it doesn’t have to be that way. You can make money, but you have to understand it is not going to happen overnight. Probably not even within two years. But it is possible.

What it takes to become trader? In my opinion the only difference between successful and unsuccessful trader is … experience. All you need to do is trade and get some experience.

But there is something more important. As you may lack successes within this two years it is crucial to believe that you can really do it, that it is possible to achieve success. If you have problem with that then, do yourself a favor and buy Anthony Robbins “Awaken the giant within” great book on positive mindset.

More info for The 95 of all Forex traders fail Lie! ~ forex trading tax malaysia:

Read More