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What to do… » Forex Harvester

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Posts Tagged ‘Forex Harvester’

Gap trading becoming popular

June 23rd, 2010

Seems like there’s a increasing interest in trading the gap in Forex between Friday close and Sunday open prices. As I’ve written about earlier I have bought one product with this strategy earlier this spring. I can’t really say that it has been working out great. So far I’m behind $100 in total, out of which EURUSD stands for $175 of losses. All other pairs are in profit. Clearly the SL of Forex Harvester is way way to big in relation to the profit it takes. The developer is now stating that there is a second version coming for free for current customers. In the mean time I’ve disabled the EURUSD pair.

I was just made aware of another commercial EA trading the same strategy, but it really seems to be better programmed. It opens just one trade (per traded pair) and it uses a much tighter stoploss. I haven’t gotten it, but perhaps I will. Check it out yourselves, it’s called Forex Gap Robot.

Even thou these implementations are different and the details is unknown to me it is a very nice addition to a portfolio I think. I’m a bit tempted to code a EA myself to be in total control of the logic used. The strategy is very simple, and it have been used for years in different markets (most other markets have gaps every day). One thing to remember is that the results are very broker sensitive as different brokers use different end and start times. Also the spread can be very wide in the beginning hour(s) of the Sydney session.

Weekly update, Week 18

May 8th, 2010

Boy this was a turbulent week. I’ve come out on top for now in my manual trades and Green really have been helped by the decline in AUDNZD that followed the rate decision from the RBA on Tuesday. The huge drop in EURCHF as SNB stopped selling CHF at a fixed rate sure didn’t thou. Two of my accounts (Alpari UK and Forex.com/UK) is in deep drawdown now with a majority from it in long EURCHF and some is trapped in EURCHF hedges put in too late (IE price have reversed since opened).

Total gain over the week was $2033.47.

Read more…

First session with Forex Harvester

May 3rd, 2010

I traded my first session with Forex Harvester yesterday evening. As I’ve mentioned before it trades the gap in prices sometimes produced between Friday (NY) close and Sunday (Sydney) open. I set the EA up on the five recommended pairs (EURJPY, USDJPY, EURUSD, GBPUSD and USDCHF) last evening just an hour before market open. It was a very easy process as there really isn’t many parameters to tweak. The only one really is if you want to use Money Management and set a risk % or if you want to set fixed lot sizes. I choose MM and 1% risk (default is 20%). 1% might sound as nothing, but it is good to be cautious. I don’t ever think I will trade it with the default risk (20% is ultra huge), but I will increase it as it proves to be a stable winner.

So how did it go? It went great. Gaps was present in all pairs except USDJPY and Forex Harvester traded them very nicely. In total it did 35 trades which trapped 409 pips. As I traded the minimum risk (1% which gave 0.01 lot size) that only equated to $41.16 in gains, which of course isn’t too much to brag about (less than 0.5% of the account), but this was a very nice start.

Buying Forex Harvester

April 26th, 2010

I constantly keep a lookout for new promising EAs, but as you know most of them are garbage. Especially, it seems, the ones that is promoted the hardest (like FRWC and that new one right now Delphi). I think I’ve found a good one now thou, Forex Harvester. I’ve been keeping my eyes on it for quite some time, and it has performed very nicely over the last three months.

What makes it really interesting is that it isn’t another Asian session scalper (like FAP Turbo, MegaDroid, Forex Shocker and about 1000 other EAs), this is based on a unique strategy. It trades Sunday nights, the first few hours of the trading week and it trades if there are gaps in price from Friday close. The strategy is that the market will close these gaps and Forex Harvester places trades accordingly. I hope that FH will be an good addition to my automated setup, and at $147 it is a buy for me. I plan to use it at my Collective FX account.

Here is a live statement from the developers them self: http://www.myfxbook.com/members/MT4Trading/harvester-live/18004

Another nice thing is that one of the developers is very active in the forum over at DonnaForex, and very friendly and helpful. The actual site promoting the EA is the usual garbage thou, don’t pay attention to it.