Forex EA Robot Trading Blog

The usd dollar has been strengthening very much lately..the trend has been very very strong...

If users are not comfortable to trade at TP 10 SL 300, we recommend them to run on EUR/USD Only

TP 50, SL 300
TP 50, SL 155
TP 50, SL 140

All these values are profitable if you run from 1.1.2003 to date.

The best setting i found for EUR/USD for year 2008 is TP 65 SL 90

Please run a backtest if u wish to check on all these 4 settings, in the mean time, if they are not comfortable with other 4 pairs, stick to EUR/USD at the meantime.

Labels: 10pipspro EA, EURUSD, forex

The autopips EA results for the first week, very impressive - over 28% profit in the first 4 days of trading.

The ea open trades when it knows that it is in an OB or OS situation and also looking at the price action movement.
After the first trade, it will then ride with the trend.


View the detailed statement





Download the trial here.



Currently it runs until the end of july, but will shortly be updated to run until the end of august. It does not require any supporting indicators.

Please report your findings to

Forex EA Reviews

We will be adding the EA as a full blown product to the myfxtools site over the next few days.

Labels: autopips, EA, forex, trend, Trial

Here i had an interesting discussion with another trader, which i thought was worth sharing.

[15:44:25] Michael says: I'm a forex trader and introducing broker
[15:45:20] Michael says: I have a few questions about carry grid
[15:46:46] Michael says: I understand that the system buys on daily, but what happens when the market sell off for severals day?
[15:47:04] Paul says: it waits until the buying returns
[15:47:36] Paul says: the whole thing is really predicated on a long term rising market
[15:47:45] Paul says: or an even market
[15:48:16] Paul says: then it will make a fortune. but if the market is going to become truly bearish, its not the right system.
[15:48:38] Paul says: basically its fortunes lie with those of all the carry traders
[15:49:06] Paul says: so GBPJPY i wouldnt go near, right now, but quite a few traders are using is on AUDJPY, EURJPY
[15:49:43] Paul says: personally, being completely honest, i prefer a bi-directional system. which is why im using pointbreak mainly at the moment, as its less stressful to watch.
[15:50:23] Michael says: I went back and notice we were in a overall up trend since 2000,looking at the monthly but from 1998-2000 we were in a major down trend I realize that was a long time ago buy in a case like that would it blow out your account
[15:51:01] Paul says: yes. this is a problem. there are trailing stops in the system but they reduce the profitability.
[15:51:23] Paul says: its risk/reward. If you rode that 6 year rise with the carry grid 10k would be millions.
[15:51:37] Paul says: but its nota system for the faint hearted
[15:51:43] Michael says: I followed point break the overall drawdowns I did not like...
[15:51:54] Paul says: ok
[15:52:04] Paul says: have you looked at shark ?
[15:52:11] Michael says: can u tell me more
[15:52:34] Michael says: yes I traded the shark great system poor tech support
[15:52:37] Paul says: you would have to check out their site, theres a link on the myfxtools site in the reviews section
[15:52:39] Paul says: ok
[15:52:47] Paul says: you know more than me then about that one
[15:54:02] Michael says: the system started looping trades and a friend of mines never got a reply from the seller/developer
[15:54:54] Paul says: ok
[15:55:15] Paul says: what kind of rewards are you looking for
[15:55:23] Paul says: you can run pointbreak on a lower risk level
[15:56:00] Michael says: just want a system that is consistant that will not blow out ones account
[15:56:17] Michael says: u think point break is the best
[15:56:23] Paul says: i honestly do
[15:56:32] Paul says: i can send you the reports from the live accounts i have running on my server
[15:56:45] Michael says: please do
[15:56:57] Michael says: deltatrading@cox.net
[15:57:01] Paul says: one is on quite conservative and pretty small drawdowns over the last 6 months even during bad periods for the system
[15:57:03] Paul says: ok
[15:57:40] Paul says: will do that later
[15:58:23] Michael says: when I ran the EA it did produce nice profits but the equity stayed below the balance for more than two months
[16:01:19] Paul says: ok yes ive seen the same thing
[16:02:07] Michael says: what should I expect from it?
[16:02:17] Paul says: the oldest account was run on 1 for 4 months, then went to 3
[16:02:23] Paul says: it started on 3k
[16:03:06] Paul says: its now at 3,600 or something. so thats 20% over 6 months at low risk. not bad really.
[16:03:33] Paul says: i have an account im running on risk 4, which is a small account
[16:04:05] Paul says: and what i plan to do is add more money if drawdown is high, and then when it hits 20k take half out, and continue running it at high risk.
[16:04:35] Paul says: so the total you can lose is never that high, the rewards are good, and you can always add more funds as its not a large account.
[16:05:06] Paul says: if i had a 50k account and had to pump in another 25-50k to save margin call i would not be happy
[16:05:16] Paul says: ive been in situations like that before
[16:05:42] Paul says: i used to trade a 100k account, and that amount frightens me these days.
[16:08:16] Michael says: ok..I'm watching some trades in the pound yen up 140 pips 190 pips and 108 pips now which is good but like you said when it turns it will not be good
[16:09:07] Paul says: yes, if you can trade with it, its a great tool, and thats how i used it
[16:09:31] Paul says: to be used at its best its not a complete autopilot system
[16:09:56] Paul says: if you already trade its a tool you might like to have in your arsenal. this is how i look at it, a tool for a particular job.
[16:10:09] Michael says: you just don't know when it can turn around and thats the scary part
[16:10:31] Paul says: true...
[16:11:13] Michael says: I appreciate your honesty
[16:11:21] Michael says: thanks a million
[16:11:29] Paul says: i had experimetned with variations that would close out on a daily trend change, but of course overall profitability was much reduced. perhaps a lower-risk version would be worth considering
[16:11:37] Paul says: no problem, always.
[16:11:46] Paul says: good luck with your trading.
[16:14:52] Michael says: thanks again

Labels: CarryGrid EA, drawdown, Expert advisor, forex, PointBreak EA, shark

We just released the first version of our iPhone compatible Forex Feed. We are pretty excited about it too, check out http://www.myfxtools.com/Forex-Friend.html

Labels: forex, iPhone

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. 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.
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

This is the follow up to the time frame switching video available in the members video area. We now have 6 videos in the members area.

Labels: forex, lifecycle of a trade, time frame switching video

Q. Can you please specify what settings you would use on a 4 hour chart trading GBP/JPY, GBP/CHF, AUD/JPY, USD/JPY. I need to know safe settings with reasonable returns.

A. I run it on my live account with default settings, but if you want to lower risk there are several things you can do.
1) Use a larger gridmesh (i.e. 100)
2) Use the smallest lot size you can on your account
3) Lower the maxpositions property
4) Pick your pairs carefully
5) Work out the largest possible drawdown you want to be able to deal with and make a plan

I will add a video on safe settings in the blog here as well in the next day or so, with more detail.

Labels: carry trade, CarryGrid EA, forex, Safe Settings

Q. How I should trade H1, H4 or D1?
A. You can trade any of them. Longer term is generally better, but with the trailing stop in place they will all work, and i personally use 4H.
Q. I have a message saying: Unable to trade as invalid lot size – please override with correct manual setting

A. You need to set UseManualLots to true and set the ManualLotSize to 0.1

Q. I can see CarryGriddingV5 with a happy face but I just want to make sure that everything is working perfect

A. That means its working. Drop the indicator on a chart as well as an additional reference for the trend.

Labels: forex, Happy face, invalid lot size, timeframe