Forex blog: Forex Blog by Lloyd (3 сообщения)

rss2email.ru

На что подписаться? | Управление подпиской

Forex Blog by Lloyd
Scouting for Success in the Forex Market
http://www.scoutforex.com/
рекомендовать друзьям >>

A Double Sweet Victory Friday - 100-pip Target Hit for CHF/JPY
Yup, we had another position hitting the maximum profit target of 100 pips, following the earlier success with the EUR/JPY trade. Those trades were opened from yesterday. It's good to see the 100-pip system to make a strong finish for the month.

I welcome all new ScoutForex members this month and am looking forward to a brand new trading month next week.

Переслать
Making Pips from News Trading (2) - CAD GDP & US Chicago PMI
I) Long USD/CAD - News event: GDP m/m; Results: +25 & 70 pips

II) Short GBP/USD - News events: Chicago PMI & Revised Uom Consumer Sentiment; Results: +25 & 53 pips

Upcoming news trading events at ScoutForex News Trading Room:

Monday - GBP Manufacturing PMI; Tuesday - AUD Retail Sales & Interest Rate Announcement, CHF CPI & GDP, US ISM Manufacturing PMI; Wednesday - AUD GDP, GBP House Price Index & Services PMI, CAD Interest Rate Announcement; Thursday - AUD Trade Balance, GBP Interest Rate Announcement, US ADP Employment & ISM Non-manufacturing PMI, EUR Press Conference; Friday - CAD Employment Change & Ivey PMI, US Non-farm Payrolls

Related post:
Making Pips from News Trading (1) - ECB Press Conference

Переслать
What Happened to Forex Autopilot in August 08?
Back in April, we all asked the question, "What happened to Forex Autopilot in late April?"

Before that, the Forex Autopilot system appeared to do well by making most of the profits via BUY signals during the strengthening period of the Euro currency. Therefore my other questions were - "Can the FAP ea also make the SELL signals and perform as good when the downtrend has begun?"

According to Marcus & his team, the FAP system is capable of detecting the change in direction based on its inner parameters and therefore it can make SELL signals. So I was convinced.

Now in August, we should raise the question once again "What the heck happened to Forex Autopilot or Euro in August?!" The FAP was found to be in a big drawdown mode as the Euro currency finally lost its ground against the dollar. At present, there is no way for the FAP to crawl back this month as it could post its biggest losses to date.

We could clearly see that the down trend has started...but the FAP was unable to make consistent sell signals. What has gone wrong? Has the FAP failed to detect the change in market direction?

The answer actually lies in the inability of FAP to open an opposing trade to offset a trade that is already running. In August, it was the BUY position which was last opened on the 5th. Since then, then euro had almost tanked 1000 pips. This eventually resulted in an large drawdown.

In other word, the FAP program could only recognise one open trade in one chart and will refuse to open a second trade or counter trade. Other keen FAP user was spot on to suggest opening two separate charts and setting up two FAP programs so that on one chart it only enters short positions, and on the other it only enters longs. (This could be achieved by using the magic number feature.)

I am not sure this is the long-term answer for FAP. But if the sell mode could be initiated for this month, it would obviously make some sound profits, instead of the hefty losses (see report). The Forex Autopilot program definitely requires some sort of right human intervention and its autopilot mode couldn't keep us long in the game.

Переслать