Friday, April 22, 2011

MOCHAMAD ZAENAL MUZAQQI

gold trader pro

I have never liked EAs! The problem with EAs is that they try to copy manual trading using the normal range of indicators but the reality is that trading requires discretion. All EAs are tuned to backtest well and will fail when conditions change (as they inevitably do). That's why there's a never-ending stream of new EAs to rip off newcomers. Seasoned traders do not use these EAs because they are not sufficiently adjustable

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The Gold Trade Pro EAs are completely different. They simply take advantage of statistical certainties that are to be found on most charts and allow you to update the parameters when conditions change. So, you never need pay again for the 'latest' EA.

Expert Advisors sell like hot cakes but always lead to disappointment - that's why there are always 'new and better' ones coming out. The Gold Trade Pro EAs are everlasting and YOU are in charge of updating them. You can become your own expert system creator very easily.

So, how do they work? With almost all instruments there are certain times of day that define the price direction. It may be just before or just after the Asian, European or US markets open, for example. Perhaps if we get more than so many pips in half an hour, an hour or even four hours then the trend is more likely to be set. Sometimes, if we get more than so many pips then it is more likely to reverse. There are patterns of probability...

The Gold Trade Pro EAs work on the 30 minute chart, 1 hr chart, 4 hr & daily charts and can be set to trigger a trade, with a pre-determined stop and take profit, if the candle exceeds a pre-set number of pips. This can be either be in the same direction or in the opposite direction. The Gold Trade Pro EAs run 24 hours and check the chart every day.

The Price Trigger EA can be set to trigger a trade in either direction once a certain price level is reached. For example, you want to sell Yahoo if the price reaches $17.00 or buy the EUR/USD when the price drops to 1.3400. Also inputs a stop and a take profit of any size at the time of trade.

This gives you a huge range of possibilities limited only by your own ingenuity and the time you are prepared to put in looking for clues and back testing a vast number of instruments. It is possible to run the same EA on different time frames and even the same time frame on separate charts to check for trades more than once a day. The package includes:

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EA1 - 30 Minute chart EA trading in the same direction.

EA2 - 30 Minute chart EA trading in the opposite direction.

EA3 - 1 Hour chart EA trading in the same direction.

EA4 - 1 Hour chart EA trading in the opposite direction.

EA5 - 4 Hour chart EA trading in the opposite direction.

EA6 - 4 Hour chart EA trading in the opposite direction.

EA7 - Daily chart EA trading in the same direction.

EA8 - Daily chart EA trading in the opposite direction.

They all have the facility to move the stop up to break-even or into profit once a certain number of pips have been made and they all work on any number of decimal place price quotes. There is no point having a 15 minute version or lower because not only are these time frames irrelevant but you can set the trigger to be 15 minutes (or less) into any 30 minute candle. A comprehensive guide is given on finding and back testing using the Strategy Tester.

Here' s an example of their use. On the right we have the 1 hour EUR/USD chart and we've decided that that the 08:00 candle often decides the direction for the European session. So, we input 8:59 for the time on our 1 hour EA, 30 pips for the stop and 50 pips for the take profit. We also input that the 08:00 candle must be at least 3 pips in size.

To lock in profit, we input that once we have 30 pips profit, the stop is moved to +5 pips. Now, the EA will monitor the chart every day and trigger a trade as directed by our inputs.

The blue line shows the 08:00 candle and the yellow lines the stops. As you can see, the price dropped and we pocketed our +50 pips for the day just over four hours later. We can have numerous charts all working at the same time. Complete control!

Rather than sell a pre-programmed EA that stops being profitable after a while, I'm giving you EAs you can continually develop on your own over the coming years to maintain good profitability - endless possibilities to expand your range of trading.