Forex EA Robot Trading Blog

PointBreak continues to perform very nicely, and here is a new banner for affiliates to use, as displayed below.



www.forex-friend.com is coming along nicely and will be getting launched very shortly. It has a dual function as both an iphone forex-rates serving application, and a site where you can configure SMS alerts to be sent to your phone based on trend changes or prices reaching defined levels. Essential for any forex trader on the move!

Carrygrid is going to have a minor release (5.2) next week which is an anti-carry version.

Labels: affiliate, Carry Grid EA, PointBreak EA

A minor bug fix was made today to create version 5.1. It had been noted that the exitAllPositions parameter was not working on positions that were drawndown. This has now been modified and the version in the download package now rectifies this.

We are currently working on version 6, which is expected to be ready in January. For this we are testing out various hedging models to find which is the most appropriate, in order to not only survive, but profit from bearish markets.

Have a great xmas!

Labels: 5.1, Carry Grid EA

Question

I see you CarryGrid is doing well so far, I learn about grid trading since last month, as far as I know one side grid like you have (buy only on GBPJPY) has drawbacks, it is when strong trend against our trade (unwinding moment), so have you any protective logic embedded in the EA ? how about is GBPJPY drop to 200-300 pips like 2 month ago…?

Answer

The system is designed to be able to ride out drawdowns, by averaging into positions and keeping positions small, and using the trend as a guide. There is a stoploss setting you can use in case of a major unwinding. the most common drawdown range historically has been around 600 pips. These drawdowns you have to be able to ride out, but the ones that run for 1000+ i agree you want to get out of your positions.

For the next version of carrygrid we plan to add an element of hedging so we move to the short side if we see unwinding happening.

The largest drawdown over the last 9 years ever would have been during this summer.

Labels: Carry Grid EA, drawdown, unwinding

I wonder if;

1. The EA is suitable for small account size (< less than 5k or probably 1k) ?

SUGGESTED CAPITAL:For Standard Account, the suggested minimum capital is $5000-$10,000.For Mini Account the suggested minimum capital is $1,000-$2,000.

2. ea have to be on all the time 24/5 ?

Answer: Yes it does.
There is a lot of VPS hosting or dedicated server that you can rent it below $50/month. For subscribers we can offer dedicated EA hosting (subject to availability).

3. only for specific pair ?

Answer: Yes this EA runs on EURUSD on the 30min chart.

Labels: Capital, Carry Grid EA, EURUSD, PointBreak EA

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

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