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Archive for July, 2009

MegaDroid Pro installed

July 16th, 2009

Finally we are able to run MegaDroid on more than EURUSD. The added pairs are EURCHF, EURGBP and USDCHF. I was very surprised that GBPUSD wasn’t one of the new ones. EURCHF and EURGBP is of course also traded by FAP Turbo, but USDCHF is a new pair for me (it is scalped by Forex Shocker, an EA that seems quite nice also). Otherwise nothing is different from MD v1.11. Oh, the font of the info text shown on charts is new (and uglier). :)

I’ve added MD Pro to two demo accounts and am currently busy running backtests. I will post results as soon as I have something nice to show.

Update: Fixed a mt4stats account for the Forex.com/UK demo account I’m using for MD Pro. It has the default settings other than that I turned of recovery mode. It has traded quite a few trades already. Link: http://johnrambo.mt4stats.com/

FAP Turbo Evolution first impressions

July 16th, 2009

So, it has been two days since the release of FAPT Evolution. It is currently off the market, it was taken out before the 2000 copies was sold because of indications that Dukascopy was getting swamped with questions and applications. Strange that they didn’t anticipate it I think. I ended up with buying two copies, so if you want one, buy it from me for a “nice” price. I’m kidding, I will probably return one. Then it will be resold on the site I think.

So, how is it doing? Well, nothing fancy yet. I’m trading all the pairs (the regular four from old FAPT, EURCHF / EURGBP / GBPCHF / USDCAD) and the first day I didn’t have a trade. Yesterday I had two, one in GBPCHF and one in EURGBP. Both were small losers. So perhaps not the most convincing start. The weird thing is that other people seem to get more trades and winners also. I thought the JFOREX platform where supposed to be much more consistent in trading results (compared to MT4). We’ll see…

I also bought the bridge software now called Trade Converter but I haven’t really tested it yet. Want to focus on FAPT Evolution the first days. It could be very nice though as spreads on the majors at Dukascopy is very tight (EURUSD, GBPUSD and USDJPY most often is 1 pip or less). I’m of course thinking of using it with MegaDroid (Pro or regular) and perhaps GridBot. The problem I think is that we have to find a MT4 broker that has a stream that as much as possible matches that of Dukascopy. Of course it has too be a true ECN. I really think the absolute best thing would have been that the MT4 EAs where fed the ticks from the Dukascopy stream, or even that they would have written a emulator platform inside JFOREX that we would load the EA too (wouldn’t even need MT4 running). But we’ll see how it works out.

Wow, hard day and week

July 15th, 2009

This is probably the worst start of a week possible. First FAPT screwed up and left a EURCHF sell position open for 14 hours yesterday, closed with a loss €105 on my Alpari UK account. Luckily Megadroid did well yesterday and recovered most of that loss. Also MD made very nice returns on my Forex.com/UK account.

Well, today is another story… FAPT haven’t made anything basically (well, two orders with €3 profit…) but Megadroid, boy oh boy. It lost me €207 on Alpari UK and $356 (!!!) on Forex.com/UK. It will take weeks of good results to get this back. Crap.

So, other than loosing money it also seems that I lost MD Pro. For some reason I’m not connected to Donnaforex as a affiliate on my FAPT Evolution purchase yesterday (even thou I used her link). So right now it seems I’m not getting MD Pro. I’m talking to ClickBank and Donna. If this doesn’t get settled with me getting MD Pro I’m refunding. So tired of crap like this.

To sum it up. Right now I feel like just running RoboMiner (perhaps on FXCM/UK with their quite nice spreads on AUDNZD) and check in to that account once a month. Don’t even want to see a single $ loss right now. Crap.

Megadroid to the rescue, somewhat

July 14th, 2009

Well, at least it did very well on my accounts this  evening, night and morning. €18.52 profit at Alpari UK and $36.7 at Forex.com/UK during normal working hours. That doesn’t sound to impressive, but in addition to the automatic chart I run quite a few more as you know by now (using much lower risk settings). So total on Alpari UK was €73.7 and $92.5 on Forex.com/UK. That is almost about 9% profit, in one day.

I also trade in the afternoon with MD. Am I crazy? Well, it seems to work. I run a chart with GMT offset 14 (16 on Alpari UK with it’s GMT+2 timezone). Of course risk setting is low at 0.02.

One thing is still worrisome as MT4 regularly crashes with Forex.com/UK with MD running. I don’t know why, and it only seems to happen to my live account as MD is about to close a order. I’ve of course tried to re-install and talk to support (both at Forex.com/Uk and MD), but no one seems to have any ideas. I’m gonna try switching of the Stealth setting so that MD sets the correct T/P and S/L values. If/when it crashes at least the orders won’t drift off to far.

I am really excited about the new MD Pro that I hopefully have my hands on very soon. It is supposed to trade three pairs and look for scalping opportunities around the clock. Then I perhaps won’t need to run 12 charts of EURUSD anymore :D

Update:  Got six trades on the GMT 14 chart at Alpari UK and four on Forex.com/UK. All winners :)

Oil bounces of $60

July 13th, 2009

It seems that the true resistance for brent oil curde was $60. The market tried to push throu twice, but quickly got back over forming a “double bottom”, a pattern associated with a bullish break out. Well it seems the pattern proved correct. The price is right now above $61.50. Very interesting.

brent_0713

Silver is still in a down trend but I expect it to hit restistance soon too, so keep your eyes open.

Update: Seems the market didn’t listen to me (again). The next bar closed at 59,80.  Well under the 20-SMA again and testing resistance again. Well see what happens. If it bounces  that is a tripple bottom, which is very bullish. If if breaks, who knows where the bottom is. I’ll just wait and see. As of before I hold no positions in Oil at the moment.

Author: admin Tags: ,

Disappointing week 28

July 10th, 2009

Took out detailed reports for the week from my live accounts at Alpari UK (sporting FAP Turbo, MegaDroid and GridBot) and Forex.com/UK (only running MegaDroid). Not as nice as I hoped, with losses yesterday and today.

All in all, Alpari UK finished at a loss of €44.87 and Forex.com/UK at a profit of $66.87. That is basically a break even if you add it up… What a waste ;)

w928_alpariuk

Alpari UK live account

w928

Forex.com/UK live account

So, MegaDroid did well on both accounts. FAP Turbo did well on Alpari UK. So what is left? Well GridBot didn’t do well… Again it loses me money. I will really stop trading it this time thou. Next week I expect them to release the new version (2.9) and then I’ll test it again.

FAP Turbo Evolution and Megadroid PRO

July 10th, 2009

Time for a update since the release date of the new creation from FAP Turbo team is approaching, fast. It was called FAP Turbo Swiss the last time I wrote about it, now it is renamed FAP Turbo Evolution. It will be limited to 2000 copies. And it will be released on July 14th at 9am EST (that is 15:00 GMT I think…). The broker is still DukasCopy in Switzerland, which is currently accepting accounts with minimum of $10000 (or equivalent, say €7300 if you prefer the EUR). The price of the software is $599.

So, I will try to get a copy. It is four times the price of the most expensive EA I have bought and the deposit requirement is 7 times what I have put up yet, so it is quite a step up for my Forex “operation”. Hopefully it will meet my expectations…

As a side note I yesterday recieved a email from the MegaDroid team stating that everyone who use their link to buy FAPT Evolution will be getting a new EA from them, for free. It is a new version of the MegaDroid called MegaDroid PRO, and get this, it trades three currencies 24/5! I don’t know if I am more excited about that piece of news or the FAPT Evolution even! MegaDroid is a very stable performer, and I would love to be able to trade it on more than EURUSD. Also, because I currently am trading it 12 hours a day myself by tricking it, I know it can be profitable during more than the dead hours between NY close and Tokyo open. I don’t know if MD Pro is using MT4 or JFOREX platform thou… Would love it even more if it also ran JFOREX at DukasCopy.

Oh, and I almost forgot. There is a war going on between some sites online that offer rebates on the Dukascopy commissions. The top offer right now (and possibly this is where the limit is) is 40% back. Wow, that is quite a lot. Cashbackforex.com is currently “only” offering 35%, but their reputation perhaps make up the 5% they keep. I actually think so, and probably will sign with them.

Commodities update

July 8th, 2009

Just a small update on the Gold, Silver and Oil sectors.

gld

Gold Daily chart with 20-SMA.

slv

Silver Daily chart with 20-SMA.

brent

Brent (Oil) Daily chart with 20-SMA.

So, where do you think these commodities are heading? Yeah I think so too. You don’t even have to use any special indicators for this one. It is however interesting to spot support levels. I am guesstimating support for gold at $870, it held up there in April. For silver I am seeing $12 as S1 and crude is first $58 and second $50 if it breaks.

So what can stop this downward trend? Well rapport season starts now and there is the G8 meeting starting today. OPEC has stated that they think $70-$80 is ‘fair’ for crude, and I guess they will cut production if we stay at levels downwards of $60. As for silver it is highly connected to the recession and the bear market rally we have been experiencing. I don’t see it recovering. Gold is harder to predict, as it is very closely tied with the USD (which I have been shorting for ever now, but has been getting stronger…).

Author: admin Tags: , ,

Goldman Sachs trading software leaked

July 7th, 2009

Found a very interesting piece by J.S Kim on a leaked trading software developed by Goldman Sachs. It can evidently be used to manipulate markets and make GS millions a year (according to the DA investigating the case). Kim speculates that GS is using it in the crude oil sector. And possibly also in stock markets, remember the low volume bear market rally as of late?

Read up here: http://seekingalpha.com/article/147260-goldman-sachs-thoughts-on-the-developing-stolen-trade-secrets-scandal

So, wouldn’t you like that EA? Unfortunately it probably is useless if you aren’t hooked up to COMEX directly and isn’t in possession of the kind of money GS is. But I bet that there are many financial institutions that are interested in getting the software now…

Update: Tyler Durden also covers the story: http://seekingalpha.com/article/147104-is-a-case-of-quant-trading-sabotage-about-to-destroy-goldman-sachs

Spread monitor

July 1st, 2009

I started thinking about a web application today that would publish the spreads of the top MetaTrader 4 brokers both in real time and with historical data. My idea was to open accounts at the interesting ones and run a small EA that recorded every tick to a database for further analysis by the web application. So I did a google search of course. It has been done before, partly.

Check it out, it is quite nice: http://www.onestepremoved.com/spreads.html

If I were to go ahead with my application anyhow it would include more bells and whistles. Most notably it would have spread history. I really would like to see the average spread over a definable time (like the Asian session) and a histogram of the distribution and so on. It would also be nice to see the rollover costs on the pair (some brokers take much more in swaps to be able to afford lower spreads). Also I would like to see some other brokers, like Forex.com/UK and CMSFX. But this one will do for now :)