Forex EA Robot Trading Blog

We are set to release the PointBreak EA next week. This is going to be our flagship EA, as it has the longest and best forward tested history. It is a cyclical swing trading system which goes wherever the market goes. The theory behind the system and the operation is quite complex and mathematical in nature, but we will have to training videos that illustrates how it works. At the end of the day you dont need to understand it to profit from it.

This comes from a private trading group and it is our privilege to have been chosen to release this EA to the world. We genuinely believe this is the best EA on the market, and we have compared it to other EA's in similiar price ranges and we have outperformed every one of them.

Some key points about the operation of the EA are;

• Small trades are continuously added above and below the opening position.
• The system will pyramiding, hedging or closing of some positions depending on which way the market moves. The system is able to react to changing market conditions with the appropriate strategy.
• All trades are closed only when a net profit is reached and added to your account balance.
• Built in money management feature automatically calculates the correct position size for capital risked.

Trials will be available next week!

Labels: PointBreak EA

Im posting all the questions that come up in emails as i think they provide really valuable information on all the aspects of running the EA.


1. If u have a 5k standard account, would the 7 currency pairs stated below be appropraite or risky?
GBP/CHF, GBP/USD, GBP/JPY, EUR/JPY, EUR/CHF, USD/JPY, USD/CHF

This is too many pairs and potentially too many positions open, i personally would focus on GBPJPY and/or EURJPY, especially with current market volatility


2. Given the 7 pairs stated, setting the EA to conservative trading, will it be possible for over bought positions and can get margin out?
GridMesh: 100.0
GridMaxOpen: 10
Risk: 0.5

I would reduce gridmaxopen to 4 - this is a better approach, especially if you are trading a lot of pairs.

3. Is there a broker having server base meta trader 4?

yes there are quite a few brokers, here is a quick list;
http://www.myfxtools.com/faq/FAQ_brokers.html

Sorry if my questions are silly since I am still learning. By the way, I like the way EA trades. Main reason is:
*Not trading when down trend/against swap.

Your questions are very very sensible!

Labels: 5k standard account, broker, GridMaxOpen, GridMesh, Risk, risky

Q1. Do you have a manual that goes with this Ea?

Answer.No the manual is ongoing it consists of the information on the download page and the FAQ section, and the blog.

Q2. I have used the default setitngs of the EA on daily charts as above. Are these settings the same for all four currency pairs mentioned above?
Answer.The default settings do work well, in the next version (currently being tested), we are optimising them further.

Q3. The indicator that came with the zip file and EA is displaced a histogram. The indicator on the you tube videos is displaced as a line.
a) Is this the same indictor?
b)Canyou send me the indicator as in the video?
c) there is a swing indicator too. Is this to be used too?
d) In the indicator sent, there is an option in the input tab...........automatic_timeframe _setting...... when set to TRUE...... It will indicator that TF trend?

Answers;
a) It is the same indicator, just a differnet way of displaying.
b) No need
c) No its not needed
d) The indicator is controlled via the EA not the chart, so the indicator you put on the chart is actually independant of the indicator used by the EA.

Q4.
a) I do not undertand..... Can be set this Ea on daily or 4h or 1 h charts with the same default settings?
b) I expect more trades on the lower time frame charts.
c) how may timeframes UP does the trend have to be to trade safe? Eg. If trading daily TF check monthly trend is UP.So if trading 1h charts, check dialy trend is UP?
d) If one places the EA on a 4 hour chart, does the EA look at the trend on the 4h chart (UP) to trigger the trade even if the daily trend is down?
e) In the explanation on strategy, you mention the EA will start closing trades when there is a change in the MAJOR trend. For the daily timeframe.... does this mean weekly trend or something else. Please could you kindly give examples for trading on the dialy timeframe and 4 h timeframe.

Answers;
a) Yes it can
b) The difference is the trend is consistent for longer. Yes you will get slightly more trades. It becomes more reactive to the market.
c) It will check the current timeframe, not all of then
d) Correct.
e) It will use the same timeframe of the chart that the EA is on.

Q5. I do not understand, trade daily TF and if you want to exit change to 4 h charts? When do you switch the TF to 4 h? When the daily trend is running out of PUFF as indicated by your trend indicator?

Answer;

This is really optional, if you like to tinker and want to cash in profits at an earlier opportunity.

Q6.
a) Do you have optimised setitngs for this EA for all the currency pairs on your trend watch indicator on your member siite?
b) Can one trade any of these currencies pairs with a positive swap?
c) You mention to swap currency pair trading when the monthly trend is down. Do you alert the members when this happens/about to happen?
d) Do you advise members what other pairs to possibially trade when this occurs? currently gbpjpy and gbpchf on the monthly is bearish? eurchf has a bearish engulfing candle on the monthly too, The eurjpy also has a bearish candle on the monthly.
e) With all these four monthly charts looking bearish, what does the trader trade? smaller TF or which other currency pair?

Answers;
a) Yes, we have been focused on developing a new version, but we will be publishing them soon
b) Yes, but some work better than others obviously
c) Generally, its better if all timeframes are bullish, but not essential. No we dont provide that service currently
d) No we dont provide that service currently
e) Smaller TF and fewer positions.

Q7. Are you looking for beta-testers for any version of the EA? I will be interested. Is there a list to put down your interest as a beta-tester?

Yes i already sent out versions of the new EA to some beta testers but preference is given to existing purchasers.

Q8. I see there is a version 6 in the pipeline.

a)This is being coded to be a dynamic grid for any timeframe and currency pair?
b) will it have trailing stop features?
c) Will it do all the calculations automatically?

Answers.
a) Yes
b) Yes, v5 already does
c) It will optimise the settings according to backtested results, and provide 2 additional risk models, which in turn modify the lot size used.

Q9. If one buys this EA, does this entitle the user to the member site of the easy forex signals? and this trend watcher etc?

Answers. No that is a seperate service. There will be occasional promotions for that product but it is not included.

Labels: Carry Grid EA, FAQ, forex, forex software, trendwatcher

My understanding for EA is I have to run MT4 together with EA in order for EA to managed my account. My questions are:

1. Will EA open trade, set the currency pairs, lots, price, and close trade for me. it means i do not have to do anything after setup the criteria in EA, just open the 2 programs and let EA trade automatically for me? Is it that easy?

Yes it is that easy, you do have to select the currency pair and timeframe however, but its an easy choice, EURJPY or GBPJPY on 1H, 4H or daily.

2. If i have 2 accounts and would like to trade with 2 different styles, with different parameters, do i have to buy 2 licenses of EA? or i have to open 2 accounts at different brokers? If EA can managed multiple accounts, what is the max number?

No, one license will cover it, there is no restriction on how many accounts you can manage with it.

3. what will happen if my internet connection is down during a day and i do not notice that, i.e. i run the MT4 at home and i go to work. the connection may down up to 8 hrs. Will this situation ruin my life?

The system is long term and a downtime like this will not have a huge effect. We actually offered EA hosting for a while to solve this problem but having had no take-ups, have taken the service down. The problem with the EA hosting was that you are unable to modify the parameters.

4. will you send signal or any information to EA in realtime for better decision making in trades? or this resource stay in the software?

This stays in the software. Signals are sent from www.easyforexsignals.com, and the trendwatcher tool there also works in a similiar way to the trend tool inside the EA.

5. I'm new to forex but would like to gain more money, can i just buy EA and start in forex trading? or i have to study forex first?
You can learn 'on the go', by demo trading.

6. is it better to buy EA instead of let someone to manage my account?

It depends on how good the trader managing your account is, and whether you want to pay them the 30% commission they generally ask.

7. what is the minimum deposit EA can run? Is it applicable for 200USD?

1500-2000 USD is really the minimum starting point for this EA.

Labels: CarryGrid EA, FAQ

As a result of many enquiries, we have now started a new section on the site this, devoted to reviews of forex products. If you would like to have a particular product reviewed, or share your experiences of a particular product with us, please contact us.

Labels: Automated Systems, Forex Review

Version 6 of CarryGrid was recalled as it was found to behave incorrectly with the update to build 210. The last stable release is still version 5. The plan to change the gridmesh dynamically with the ATR has been left for the time being. Instead, along with the improved comments and properties, for version 6 we will have;

1. A flexible risk level, the risk level will (optionally) dynamically decrease as a pair is more overpriced, and return to the maximum risk level specified as a pair becomes underpriced. This ensures most of the lots are traded at the lower end of the price range. When we are at the top of the market, we are trading small, then after a long fall, we are really capitalising on the lower. bargain prices.
2. Inbuilt settings are now optimised (so thereforex change) for different pairs, so by default you know the values used are well tested and correct. You can of course still override them.
   
   
   The upgrade will be of course free for all existing users.

We are also currently working on some product reviews to help people make informed decisions regarding other popular forex products on the market. These will be published on the main site over the coming week.

Labels: Carry Grid EA, forex, forex product reviews, Stable release

Q. I have started to setup the EA on a demo account. I have a couple of
questions. How do you know what leverage to set the account at (1:400,
1:100) etc.? Can the leverage be changed on the live or demo account? I
will have to start a mini account. Does it make a difference what broker
to open an account with when starting with a mini account vs. a
standard? Are there any big differences that might change my profits
between the brokers?

A. I would use leverage of 100:1 or LOWER. higher leverage magnifies profits and losses, which is not what we want to do when dealing with a long term low risk system. You usually set it when you apply for an account but most brokers will change it for you.

I personally use fxdd for the past year or so, and they have set up micro lots for me on a standard account, which is nice of them. I dont think it makes a huge difference, providing you make sure you can trade micro lots.

Labels: broker, Carry Grid EA, leverage, mini account

• For Version 6, the parameters are reorderd in order of priority/li>
  
• (Version 6) UseOptimalSettings- If true (by default) will use the optimised values for each pair. If false, will use the settings provided. This is provided, as the settings are getting quite complicated for the average user to set.


• UseATR- Whether to use the ATR (Average True Range) indicator (when true) to determine gridmesh and trailing stop level, or (when false) to use fixed grid settings as per previous versions


• ATRMult- This is a floating point value, and can be used to make the grid wider or smaller when using ATR. The ATR is usually a value between 0.5 and 5 (depending on pair/timeframe), and so a value of 50 as ATR will mean the gridmesh will range between 25 and 250 depending on the current market volatility.

Labels: ATR, CarryGrid v6, parameters

This is taken from bloomberg, with the market volatility out there its good to keep in touch with what is happening. If you check the economic calendar you get an idea of just how busy this week is.

Nov. 13 (Bloomberg) -- Japanese bonds gained, pushing 10- year yields to the lowest since February 2006, on speculation central bank Governor Toshihiko Fukui will signal plans to keep borrowing costs unchanged in coming months.

Benchmark debt advanced for a fifth day as mounting losses related to U.S. subprime mortgages set off an eight-day decline in Japanese stocks. The slump in equities outweighed a government report today that showed third-quarter economic growth beat economists' expectations.

``GDP is not giving the market much relief,'' said Hitomi Kimura, a bond strategist in Tokyo at JPMorgan Securities Japan Co., one of 26 primary dealers obliged to bid at government debt sales. ``The yields may fall to below 1.5 percent because of the worries people have about writedowns and the bank results in the first quarter next year.''

The yield on the 1.7 percent bond due September 2017 fell 2 basis points to 1.495 percent, the lowest since Feb. 22, 2006, at 11:05 a.m. in Tokyo at Japan Bond Trading Co., the nation's largest interdealer debt broker.

Ten-year bond futures for December delivery gained 0.07 to 136.76 on the Tokyo Stock Exchange. The Nikkei 225 Stock Average declined 0.2 percent. A basis point is 0.01 percentage point.

The world's second-largest economy expanded an annualized 2.6 percent in the three months ended Sept. 30 from a revised 1.6 percent contraction in the previous period, the Cabinet Office said in Tokyo today. The median forecast of 41 economists surveyed by Bloomberg News was for a 1.8 percent increase.

Rate Meeting

The central bank will keep borrowing costs on hold at its two-day meeting ending today, according to all 37 economists surveyed by Bloomberg News. Fukui last week said ``downside risks'' for the economy are rising as fallout from the U.S. mortgage crisis lingers. Board member Atsushi Mizuno was the sole advocate for a rate increase at the past five meetings.

``The market is watching if Mizuno is going to oppose,'' said JPMorgan's Kimura. ``There is a 50-50 chance of him not opposing which could move the market.''

The proportion of economists forecasting that the Bank of Japan will increase rates to 0.75 percent in March fell to 58 percent last week, according to a Bloomberg survey, from 71 percent in a previous survey on Oct. 30.

The central bank may raise rates to 0.75 percent by the end of March, according to the weighted average forecast of a Bloomberg News survey of economists and analysts. The estimate puts a heavier weighting on more recent forecasts.

Labels: bloomberg, calendar, market volatility

CarryGrid Version 6 is going to be released internally today to members of our mailing list. Current purchasers will receive the updates for free, and mailing list subscribers will also be offered the opportunity to purchase. Check your email!

Labels: CarryGrid Version 6

Q. As you are aware, that since I had been demoing your
EA, since 15 Oct., the markets have been very choppy,
maybe in 25 yrs. However, inspite of that your EA is
doing very well. The trades that were opened by your
EA in Oct. & not closed yet, I believe they'll stay
open collecting the swap? Right?

A. Thats correct, they will keep collecting swap and eventually the swap will cover their margin requirement.

Q. How soon could you set me up to host your EA only at
Interbank FX live?

A. With the dedicated hosting, noone has shown any interest until this point, but i will do it only for fxdd account holders, as it costs me $250 per license to run the multiple accounts on a server. So i can only run on fxdd currently, as this is the platform i am licensed for.


Q. The new EA you are working on, will there be updates or to be puchased seperatly?

The new EA will be a new product line, but available at a major discount for existing CG purchasers. Its optimised for each pair, and has a dynamic gridmesh and trailing stop, which makes it a LOT safer, and outperforms the current version significantly in terms of much lower drawdown.

Labels: CarryGrid EA, dedicated hosting, forex, swap collection

Q. The ea seems to work well,
but i am a bit concerned about the drawdowns in
backtesting. If the ea is supposed to recognise a
trend change and close open trades, why do we still
get a drawdown.

A. The version i am working on RIGHT NOW dramatically reduces drawdown by dynamically changing the grid mesh based on market volatility, and produces similiar results (10k -> 1 million in 5-6 years). Get on the newsletter to keep updated.

Labels: CarryGrid EA, drawdown, version 6

Q.
How to setup the indicator itself by itself without using the EA, or can this not be
done? I tried and there is a setting with it I am not sure needs to be
on or off. And will the indicator only work on one time frame because it
is automatically already set to work on all time frames so it seems,
when attaching it to charts.

A.
Yes you can just drop the indicator on a chart and it will appear. Its in the first video i think. Both the EA and indicator work on all timeframes.

Labels: EA setup, forex, indicator setup