Trading Forex Automated Systems Page 1 of 43 Making a Living

Transcription

Making a Living with Forex Automated Systems
Written by Allan Sykes
DISCLAIMER
Trading carries a high risk and you should never trade with money you can’t afford to lose. The contents of
“Trading Forex Using Automated Systems” are for educational purposes and should not be considered in any way
as investment advice. Ultimately you, the trader, must take responsibility for your own trading decisions.
Although every effort has been made by the author to ensure accuracy (as at Feb 2010) the content of this book
cannot be guaranteed as accurate into the future.
Past performance is no guarantee of future results.
The Author accepts no liability whatsoever for losses or damages resulting either directly or indirectly from the
use of the information contained in this book.
© Copy write Allan Sykes 2010. All rights reserved.
No copies of this document can be made either electronically or on paper
Without prior permission from the author.
Trading Forex Automated Systems
Website: http://dtcoach2.robovore.hop.clickbank.net/
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Contents
THE PERFECT BUSINESS ............................................................................................................................. 3
BACKGROUND ............................................................................................................................................ 3
WHY TRADE AN AUTOMATED SYSTEM? ..................................................................................................... 4
Trading manually takes Time, lots of time…......................................................................................... 4
Trading manually, especially intraday, is Stressful .............................................................................. 5
Enter my first Automated System .......................................................................................................... 6
WHY FOREX? ........................................................................................................................................... 7
ASSESSING A SYSTEM ................................................................................................................................. 8
Calculating the Likely return of a system ............................................................................................. 9
System Velocity as a measure ............................................................................................................. 12
Using Velocity to compare systems..................................................................................................... 12
Could this simple formula be applied to back-test results? ................................................................ 14
What type of system is likely to make the best return?........................................................................ 17
KEEPING COSTS LOW ................................................................................................................................ 19
Time Scale to Success – Having Patience........................................................................................... 20
BUILDING A TEST ENVIRONMENT ............................................................................................................. 21
Choosing an MT4 Broker.................................................................................................................... 21
Installing and configuring MT4 for testing ......................................................................................... 22
Running a system on a demo account ................................................................................................. 23
GOING LIVE .............................................................................................................................................. 24
Expect to see a drop in profits when trading live................................................................................ 25
WHAT CAN BE ACHIEVED ......................................................................................................................... 26
WHICH SYSTEMS DO I USE CURRENTLY ? ................................................................................................. 27
WHAT’S NEXT? ........................................................................................................................................ 27
WHY DO MOST TRADERS FAIL? ................................................................................................................ 29
LIMITATIONS OF AUTOMATED TRADING SYSTEMS ................................................................................... 31
WHAT DOES THE FUTURE HOLD? .............................................................................................................. 31
SYSTEMS PURCHASED AND REJECTED ....................................................................................................... 32
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The Perfect Business
Trading Currencies on Forex (Foreign Exchange) can be rewarding, and has many
benefits that other businesses do not have. Just some of these are :•
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No need for premises
No stock to purchase and store.
No staff to Manage or pay for
No invoicing, or payment wait time
No VAT or surcharge tax to deal with
No Delivery costs
Unlimited earnings potential
However, this does not mean that trading Forex is easy, far from it. Here are some of the
issues you must face :•
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To Trade you need Trading margin (raw cash to put into a trading account)
You have to learn to lose, before you start to win…..
You have to learn to cope with the increasing stress that trading larger and larger
amounts of money brings as you begin to succeed
You have to learn to control your greed, or you will bust your account.
Take your time, start small, prove everything. Learn to use automated trading systems as
tools.
Read on.
Background
Allan Sykes has been writing and trading algorithmic based systems for more than 25
Years. The history of how such systems development has improved can be clearly seen in
the following timeline of hardware and software used by Allan to develop a myriad of
systems :•
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1982 Using a Commodore 64 and laser basic to chart price action.
1983 Using an IBM XT 8088, DOS 2.0 and Lotus 123 to write both indicators
and crude formulas to calculate Trade entry.
1984 Using a Compaq 286DX, DOS 3.3 and a cubix card to allow multiple
processing (for optimisation).
1986 Using Compaq 386SX and windows 2.1 to do more of the same but faster.
1989 Using a Viglen PC with 486DX and a beta copy of Windows 3.0.
1994 100Mhz Pentium with windows 3.11 running ‘TradeStation’.
1997 230Mhz Pentium MMX running windows 95 and ‘TradeStation’.
1999 Pentium 3 @ 550Mhz running windows 98 and ‘Tradestation’.
2001 Pentium 3 @ 1000Mhz running XP and a mixture of ‘TradeStation’ and
eSignal.
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2003 Pentium M @ 1.7Ghz running windows XP, ‘Tradestation’ and eSignal.
2005 Pentium 4 running windows XP, eSignal and bespoke API handling to place
and control Trades automatically via Interactive Brokers.
2006 Intel Core 2 Duo @ 2.13Ghz running XP and eSignal and Metatrader 4.
2008 Intel Core 2 Duo @ 3.2Ghz running XP and eSignal and Metatrader 4.
2009 Multiple Dell 1U rack servers (3Ghz Xeon duo core) running windows
server 2008 clustered for optimisation. Development environment now MT4, plus
DLLs coded in C++ in visual studio. Optimisation using neural networks,
processing MT4 based trading system file outputs.
And the future ……
•
Self aware, fully conversational neural network Trading via several dozen client
based live account systems expected within the next 4 - 6 Years.
The above list may seem daunting to someone contemplating having a go at Trading
today, but you needn’t worry. If you are going to develop a trading strategy, then Yes, the
learning curve is steep, but if you just want to Trade such a system, then there is a
plethora of systems you can try. What’s more, there are good systems out there that do
not cost the earth.
I both develop and purchase trading systems, and I Trade a mixture of both for a living. I
have developed an assessment process that allows me to filter the chaff from the
profitable, when purchasing someone else’s system.
I have also developed a measure that allows me to compare their expected success with
my own.
I can do this before risking anything more than the purchase price of the system.
As of July 2009, I have purchased and assessed more than 280 systems, as well as having
written and Traded more than 45 of my own. Interestingly, out of those 280 purchased
systems (over some 15 Years) only 18 Have proved worthwhile, with only 2 still being
Traded.
Why Trade an Automated system?
Trading manually takes Time, lots of time…
Simply put, it saves time and stress.
In 1982 I used to spend upwards of 3 hours after the Daily markets shut to input data and
calculate what prospective trades there are. All done late in the evening, before actually
placing these trades the next Day during the active session with my Broker.
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Weekends would be spent compiling summaries of the week’s activities, as well as
optimising systems for the next week. Although I loved my work, it was all significantly
time consuming ….!
Today, I spend almost no time Trading.
The automated systems I use do 90% of the work. I spend 10-15 hours a week setting off
optimisations and back-testing new modifications to existing systems, or perhaps
evaluating a new system I have purchased. Other than this, I am free to do more or less
what I want.
Trading manually, especially intraday, is Stressful
Talk to a manual Day Trader, and they spend upwards of 6-10 hours watching patterns
form, calculating trade entry, making the trade, watching a trade unfold and closing a
trade. An active Day Trader can place 10-50 Trades a Day. The stress levels are quite
something. Measured heartbeat rates of active Day Traders have been known to nudge
180 beats a minute at peak stress moments.
Quite a few ‘burn’ out in a matter of Months.
For me this stress grew as trading time scales got shorter. Intraday Trading being the
most stressful.
Stress also made me alter the rules of my trading strategy. I would shorten profit takes,
move stops too tight and generally cause Trades to lose money….!
I just new there had to be a better way.
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Enter my first Automated System
My first automated system worked on End of Day charts, and produced an alert list that
included where to put the protective stop, and profit take. At the end of each Trading
session this list would be generated and I would simply place the Trades with my broker
and leave the system to it. Completely hands off. This was around 1987. I used to Trade
US stocks then.
Early Days for automated systems … !
Over time this system developed into a fully automated system, that even placed the
pending entry orders (complete with active stops and profit takes if the initial entry was
taken) directly with my broker, all fully automatically.
All I had to do was check to make sure the orders (and any stop movements) were correct
which took 15 minutes in the evening, and I was done until next evening. This was
around 1999, just as brokers started to offer trading online via the internet.
The main thing is that this system taught me, is that a Trader should concentrate on
assessing a systems performance and modifying the system for maximum gain with
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minimum risk, as well as monitoring the market being traded for personality change. The
idea here was to assess when to trade, not undertaking the actual trading ….. !
This was a revelation ! The stress did not disappear, but did become manageable. It also
freed up the most important commodity of all … TIME.
I now had the time to study. To develop new systems. I even developed my own code
library in TradeStation (although funnily enough I do not use TradeStation today, partly
because of the $199 a Month subscription costs, and additional costs for data).
Over the next 25 Years I learned to develop Trading systems that were (and still are)
pretty sophisticated, and even earned a Masters degree in software development in the
process.
Today, you do not need any of this. Today, with a broadband link to the Internet, and a
modern PC you can purchase, assess and Trade an automated system to make money.
This can be done part time initially, and over time can become very lucrative.
Do not be fooled though. This is not an instant path to wealth. Like any business it
takes time to get it right.
That said, I know of no other business that has the ability to deliver RAW cash the way
that Trading Forex does. There is no stock to warehouse, no invoicing, and no wait for
payment. You do not need employees, or premises. You don’t need to get up early, or
wear a suit. You don’t need to commute either…….
I personally would not contemplate any other business.
Why FOREX?
If you want to sell a product such as fruit, you need a good supply chain. This supply
chain has to have the ability to supply quality goods quickly for you to sell. You need to
be able to get your goods in front of customers for them to see, and once sold you need to
get the goods to them quickly.
The products you sell have to be at the right price, and you need to make sure that you
have enough of them to satisfy demand.
There is no point selling a rare fruit, if all you can get is 3 of them, and no one wants
them.
The Stock and Forex markets are the same. You need to deal in Stocks or Commodities
or Currencies that people want. You also want to buy and sell quickly as close to the
advertised price as you can get.
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Forex (short for FOReign EXchange) is the largest market in town. On some days this
market can Trade upwards of $3.21 Trillion.
What this means is that when you want to buy currency, it will be sold to you almost
instantly. When you want to sell currency, it will be bought almost instantly. What’s
more, competition to buy and sell is so strong, that in normal transactions, the spread (the
extra bit the broker adds and subtracts to make money) and slippage (the movement in
price away from when you asked to buy or sell) is kept to an absolute minimum.
On the most liquid currencies, the spread can be as low as 1-2 pips, where a pip is as low
as 100th of a US cent.
On most liquid currencies, the slippage is also low, typically being less than 5 pips.
I have traded just about every market there is from Stocks, commodities and their
underlying futures and derivatives, and FOREX beats them all into a cocked hat.
Forex is highly liquid, with some of the largest transaction volumes, and more
importantly, once you understand the basics, transacting in forex is easily understood.
For me, FOREX is the only game in town….!
Assessing a System
So, having decided to trade FOREX, and having discovered several FOREX systems,
how do you assess how good they are?
Measuring the return of a system is not just about profit. It is about how this profit is
delivered.
Why is this important?
Firstly, Psychology. It is about being confident, that even if the system loses, over time
you are going to make money.
Secondly, and more importantly, it is also about just how much time is it going to take to
make money versus the amount risked each Trade, and the quantity and frequency of
Trading.
So how do you know which system is better?
To compare different, disparate systems, you need a standard methodology for measuring
the likelihood of success.
I have figured out how to do this ….. using pretty simple maths too!
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Calculating the Likely return of a system
You need to know what the likely return of a system actually is. To do this you need to
know what the return is for every $ risked. The maths for this is actually quite simple.
“How do we know which one to pick”?
If you have access to historical trading, you can calculate the following. Remember that
the more trading history you have access to, the more accurate an assessment of a system
becomes :AW = average win in value (if each of the winning trades made $12.34, $32.14, $2.67,
$7.54, $8.55, $9.32 respectively, then the average win would be the total of all profits
divided by the number of trades totalled, in this case 6, which would give an average win
amount of $72.56 / 6 = $12.09)
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PW = probability of winning (if your system made a profit 6 time out of 10 then this
would be 60% or 0.6)
AL = average Loss in value (if each of the losing trades lost $3.11, $8.67, $3.55, $7.12
respectively, then the average loss would be the total of all losses divided by the number
of trades totalled, in this case 4, which would give an average loss amount of $22.45 / 4 =
$5.61)
PL = probability of losing (if your system made a loss 4 time out of ten, then the
probability of losing is 40% or 0.4)
With this information you can calculate your Likely return :Likely return = (AW x PW) + (AL x PL)
---------------------------AL
Therefore in the above example the Likely return is :(12.09 x 0.6) + ( 5.61 x 0.4)
-------------------------------5.61
Which is $1.69.
There fore the above system has a likely return of $1.69 for every $1 risked.
(Note that this return is on top of the $1 risked, and therefore the actual return is $1 +
$1.69 giving $2.69 in real terms. That said, we only use the likely return of $1.69 in any
calculations)
Knowing the average frequency with which a system places trades is also important.
Why?
Because the more often a system trades (assuming it has a positive Likely return) the less
you have to risk on each Trade to achieve a similar profit as a system that trades less
frequently.
That said you do need to standardize the way you measure frequency. I tend to look at the
number of Trades a system places per Year as the frequency standard.
Example 1 :- A system places 45 Trades in 1 Calendar Month. There are 31 Days in this
month. Therefore this system has an average Trading frequency of 45/31 = 1.45 Trades
per Day, which is 1.45 x 365 = 529.8 Trades per Year.
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Example 2:- A system places 4 Trades over 6 Months. There are 181 Days in this 6
months. Therefore this system has an average Trading frequency of 4/181 = 0.022 Trades
per Day. Therefore this system has an average Trading frequency of 0.022 x 365 = 8.06
Trades per Year.
So by combining both measures above, (the likely return multiplied by the frequency of
trading) you get a true measure of a systems likely performance.
This standardized measure can be used to compare disparate systems of any type, AND
also to gauge ‘which’ of all the systems you compare is likely to deliver the best overall
return in the shortest time.
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System Velocity as a measure
I call this measure above Velocity.
It can be used to compare completely different trading systems. It doesn’t matter whether
you are comparing an intraday system that places 5 Trades a day on a 1 minute Forex
Chart, or a Trading system that holds medium term positions on stocks of the DOW30.
ALL systems can be compared, simply by looking at the trading history over time.
Using Velocity to compare systems
Here are 6 different Trading systems history over time :All systems were traded with the same starting capital of $2,000
System 1 is a derivatives system that places trades on the 4 key commodities :•
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Placed 63 Trades over a period of 7 Months
The average win was $22.63
The average loss was $19.84
The probability of winning was 51% or 0.51
The probability of losing was 49% or 0.49
The Likely return was $1.07 for every $1 risked
The frequency of Trading per Year was 107 trades per Year
The velocity of the system is therefore 115
System 2 is a stocks trading system geared to Trading the DOW30 :•
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Placed 14 Trades over 11 Months
Average win was $102.56
Average loss was $63.55
Probability of winning was 61% or 0.61
Probability of losing was 49% or 0.49
The likely return was therefore $1.47 for every $1 risked
The frequency of Trading per Year was 15.2 trades per Year
The velocity of the system is therefore 22.38
System 3 is a Forex system that trades a single currency pair :•
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Placed 64 Trades over 3 Months
Average win was $10.73
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Average loss was $12.26
Probability of winning was 87% or 0.87
Probability of losing was 13% or 0.13
The likely return was therefore $0.89 for every $1 risked
The frequency of Trading per Year was 255 trades per Year
The velocity of the system is therefore 227
What is interesting here is that even though the 2nd DOW30 system has excellent returns
on a per trade basis (10 x the Derivative and Forex systems) and has the best profit to loss
ratio of 1.61, the 3rd system, a Forex system has the best velocity.
It is the 3rd system that is more likely to grow your balance the QUICKEST.
I have Found One … !
All of these systems were traded on real accounts over time. Now for something even
more interesting.
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Could this simple formula be applied to back-test results?
In a word absolutely!
You now have the tools to assess any system, even after conducting a back-test. In fact
most back-tests result in a report similar to this one from an MT4 Forex system :Example report from MT4
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This report already summarizes the data you need to calculate the velocity of the trading
system. In fact the velocity of the above trading system is 493 just in case you are
looking to calculate it yourself.
In fact most system sellers actually have their back-test results published on their website.
So you could actually calculate each systems velocity, without even purchasing the
system … !
So , isn’t it just a case of evaluating and purchasing systems that have assessed well as in
above ?
Well yes and no ……..
You see there is one big problem, especially with regards to back-test results. They tend
to be inaccurate! Less than 1% of all systems that show positive back-test results, actually
forward trade with success.
There is also another hard rule I have learned through writing and back-testing / forward
trading my own systems too :The shorter the time frame the system trades, the less accurate the back-test results
actually are.
Intraday Trading systems are hard to find … !
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There is a combination of things that cause this, from simple curve fitting of parameter
settings, to the amount of history used to back-test a system, to inaccurate data used, as
well as accidental coding of trade entry that uses data that would not be available in real
time.
Usually it is a combination of all of the above that causes the problem.
That said, if a system does not back-test at all well, then it probably isn’t going to
forward trade well either….!
Calculating the velocity of a system from any results shown on the website is a good start
….
Quite often, a system vendor will have both back-tests and forward trading results
displayed on their sites. Calculate the velocity of both back-tests and forward trading, and
you can also then see the Actual trading variance between both.
You simply calculate the velocity of the back-tested system (called BTV) and then
compare this with the velocity of forward trading (called FTV) By dividing the FTV by
the BTV and multiplying by 100 you get the forward trading accuracy of the system.
For instance lets say that the velocity of the back-tests shown on a system vendors
website is 140, and that the velocity of a real trading account is 87, then the forward
trading accuracy of the system is :FTV
Forward Trading accuracy =
------ X 100
BTV
In the above example this would be
=
87
---- X 100
140
Which results in a forward trading accuracy of 62.1% which is typical.
This means that there has been an element of curve fitting to parameter settings, or the
broker’s spread and slippage is significant. This is a typical figure though, and in reality
most ‘live’ accounts are’nt … ! they are merely forward traded results on a demo
account, which has NO slippage, and fixed optimal spreads.
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What type of system is likely to make the best return?
The best velocity systems I have encountered tend to trade intraday for small profits, but
NOT in the way you think.
They Nibble several times at a price movement, rather than take a long term view and
stay in a trade for a reasonable period of time.
They also look to capture small profits from any of the 3 most likely price personalities
that a market can have. By this I mean that the price action falls into 3 categories of
movement, Trending, counter trending (sideways or ‘channeled’) and breakout.
What is interesting though is that the best systems use a trading array. This means that
there are several systems within the single program. Why?
There have been several books written about the subject of a markets price action
personalities. The summary of all of these is quite simple. You can expect any Trading
symbol (Forex, Stocks, Derivatives commodities etc) to have the following percentage of
each of the 3 distinct personalities :•
•
•
Counter Trending (sideways, or range bound
Trending
Breakout
60%
30%
10%
My own experience has shown that most breakouts also occur with trend, consequently a
good trend capturing system will probably capture most breakouts.
Therefore, you should look for a trading system that addresses the above with a system
that looks to trade each of the 2 main personality types above (Counter trending and
Trending)
Because the best technical indicators, at least in terms of accuracy, are End of Day / 4
hour, in terms of time-frame, any one system will place a trade a couple of times a week.
So you need several systems to get the frequency of trading to something reasonable such
as once every Day or two.
Most newbie Traders want to see 5-10 Trades a Day, and that’s what gets written and
sold. It is a simple question of demand and supply. This is probably the main reason
most systems, especially Forex systems are rubbish …..!
Take my advice and don’t buy a system that looks to Trade more than twice a Day max,
and typically trades 3-8 times a week, with no trades at all some weeks.
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In fact the ideal system will Trade 30 – 60 Trades per Month tops. Anything more than
this is probably using intraday timeframes for indicators, and will not show consistent
returns.
The above described Trading array, that uses both personality and EoD/4H technical
indicators is currently rare. Funnily enough, it is also the least sought by newbies……!
I call this type of Trading system an Intraday Hybrid.
You now know that this is the type of Trading System you are looking for … !
A few simple measures can save an awful lot of Pain … !
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Keeping costs low
All costs should be transformed into a total cost to Trade.
Years ago when I used to Trade stocks, I would convert the transaction cost of buying
and selling the shares (stocks) as well as data fees into a cost per transaction, based on my
average transaction rate per month. This added nearly 10% to the cost of Trading stocks,
especially when I first started out, and was only trading small amounts.
Today things are different, especially when looking to Trade Forex.
Oh How Times have Changed ….!
Firstly, there is a platform called MetaTrader 4 written by metaquotes. This platform is
fast becoming a de-facto standard with Forex Brokers around the world. It has one huge
advantage. It is free to install and use as a client. Even the data is free….!
Add to this the fact that transaction costs via an MT4 broker can be as little as 2 pips per
trade and MT4 is a no brainer to the newbie trader starting out.
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The combination of MT4, a decent broker, and a Trading Robot written for MT4 has
brought countless people a new way of earning a living, and some have amassed a small
fortune to boot.
You can do the same.
Time Scale to Success – Having Patience
This is important to mention now. This whole process CANNOT be circumnavigated. If
you jump straight in, you will pretty much fail, or bust your account pretty quickly.
A realistic view to Trading must be adopted. Like any other business it takes time to
make a success of Trading.
It is therefore important to note that a realistic time scale to success is 18 Months plus.
I am always amazed at people who assume that they can be up and running and making a
living within a few weeks. It just will not happen.
Getting it right takes time … !
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Building a Test Environment
This is the first stage to assessing systems, and also to gain familiarity with the forex
market, and MetaTrader 4 which will become the mainstay broker application that you
are going to use.
You will need a PC and monitor (this does not need to be anything special, so long as it is
a Pentium running Windows XP or higher it will be fine)
You need access to the internet via broadband. Nothing else will do. You need a reliable
internet connection, because an automated system will require live data to be arriving on
chart within MT4 to be able to predict when to enter, and when to exit, as well as actually
communicate with the broker to place and exit trades. Live data is also used to trail stops,
and exit if using a stealth mode to fox the Broker.
Choosing an MT4 Broker
There are several things you need to know about MT4 Brokers. They are not all the same.
Lotsizes supported
MT4 Brokers offer either a standard or mini account type. Don’t confuse this with lotsize
type (mini, micro etc). The account type merely sets what 1 lot actually means in terms of
$ risked per pip.
A standard account means that 1.0 lots is actually $100,000 worth of currency. What this
actually means is that for every pip movement 1.0 lot on a standard account would gain
or lose $10 per pip movement.
On a mini account type 1.0 lots is actually $10,000 worth of currency. What this would
mean is that for every pip movement 1.0 lot on a mini account would gain or lose $1 per
pip movement.
If this wasn’t confusing enough, fractional lotsizing is then available on both account
types … !
For instance on a standard account, a minilot is 0.1 standard lots and would gain or lose
$1 per pip movement.
HOWEVER, on a mini account type 1.0 lots is a minilot … !!!!
Where a broker supports microlots, on a standard account type, 1 micro lot is 0.01
standard lots and gains or risks $0.10 (10 cents) per pip movement.
HOWEVER, on a mini account type 1 microlot is 0.1 minilots …… !!!!
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You need to understand this fully, or you will suffer larger losses that expected.
The golden rule here is, choose a broker that supports the smallest lotsizes available. In
the US InterbankFX actually support a propriatory lotsize of 1 nanolot, where 1 nanolot
gains or risks 1/10th of a US cent per pip movement.
The smaller the lotsizes supported the greater the granularity available to set Trade
lotisizes to your account balance. This becomes more critical the smaller you’re
initial starting balance.
The other thing you need to be careful about when choosing a broker, is whether they are
directly trading forex as you place trades, or whether they use an in house broker desk.
Why is this important?
Because where a Broker has a dealing desk, they are looking to offset buy and sell
trades internally between customers, as well as gauge whether to risk their own
money Trading against you.
Keep this in mind. Brokers will alter the spread and slippage to retain more pips against
you. The more unscrupulous Brokers are even known to lag and move the price action
beyond the actual market just to capture known stop positions etc.
Small brokers tend to be classed as retail brokers (and have dealer desks) larger brokers
tend to be classed as ECN (Electronic Comms Network) brokers (and don’t have dealing
desks. They charge a fixed commission for each Trade, and typically have a minimum
account balance / Trade size.
There are hybrid Brokers appearing, that cator for small account sizes, and offer as near
to ECN as possible. InterbankFX in the US and Alpari UK are two that spring to mind.
Installing and configuring MT4 for testing
You need to choose your MT4 broker and then go to their website and download and
install their copy of MT4. This is free, and will usually require a registration form to be
filled in.
Once you have MT4 installed and operating (ie receiving live data onto a chart) you need
to download as much data as the broker has for each of the timeframes. Start at 1 Month,
and work down each timeframe.
You now need to download sufficient history data for each of the timeframes MT4 has
(Month, Week, Daily, 4Hour, 1Hour, 30 Minutes, 15 minutes, 5 minutes and 1 minute)
During this process, do not shut down MT4
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Make sure you have ‘auto scroll’ turned off.
On each timeframe, hold the ‘page up’ key until no more data arrives on screen. The data
will poll backwards through time, filling the local history cache.
Do this on every timeframe there is. The shorted the timeframe (especially 1 minute) it
may take some time for the data to download.
You can also download interbank data (which is probably the most accurate in terms of
what the market pricing actually did) simply go to the history centre within MT4 (‘Tools’
from the top menu, then click History centre from the list that appears)
Find the currency pair you are going to back-test / Trade (EUR/USD), and open the 1
minute bar history by clicking on it. Then click the Download button. This will take some
time. Once downloaded, then click each successively higher timeframe to populate using
the 1 minute bar data. Double click 5 minutes, then 15 minutes etc. Finally click close
once finished.
Once you have the data downloaded, you need to create caches files that the Tester applet
will use. To do this, you need open the tester applet, set a start and end date for the back
test (choose something sensible like a start date from a Year ago, and an end date of
today), choose the currency pair to test (EUR/USD), and also choose an expert advisor.
MT4 installations usually come with an MA Expert Advisor. Choose this and then set
‘Open prices only’ model and set the period at M1 for 1 minute bars. Then click start.
Check the trading results via the graph tab that will appear once the back-test starts. Make
sure that the first trade is on or around the start date set above.
Repeat the back-test using a model set at ‘every tick’
Repeat the whole process for each currency pair you intend to trade.
You now have a system ready for back-testing.
Running a system on a demo account
Having found the system you want to trade, the next step is to trade a demo account.
Realistically you should do this for at least 3 Months.
You need to see the system work over several 10s of trades, and over different market
conditions (Trending, Counter Trending and breakout)
Page 23 of 43
If possible, you need to see the system cope with this several times.
When opening a demo account (just as above when setting up for testing) make sure you
set your margin at what you are aiming to trade. There is no point running a demo
account with $50k starting margin, if you are going to start a real live account with $500 !
Going Live
When you have found a system that you feel is worth going live with, I then recommend
the purchase of a dedicated PC for the purpose of running your live account (nothing
else) or a subscription to a decent VPS service (Virtual private Server). If you decide to
subscribe to a VPS service, make sure you go for a dedicated one, simply because shared
servers crash often, and can cause missed trades and trailed stops etc.
I personally use a dedicated farm of Dell Servers in my office. Two of them run several
live accounts, and the other three are used for optimisation and back-testing. Here they
are snug in the corner of my study :-
I have had to install Aircon above, an absolute need when this lot are charging hard…..!
Please remember that this has taken several Years to build up to, and is not needed from
the moment you start.
Page 24 of 43
Initially, go live with a small account. I do recommend a minimum of $2k starting
capital.
Why?
Because the granularity of lotsizes available means that the more starting capital, the
better your chances of success.
Run the prospective system with a fixed lotsize. Make this lotsize the smallest that the
system can handle. 1 microlot if possible. Run this for at least 6 Months.
The new Live account trading machine ….!
Expect to see a drop in profits when trading live
Why?
Demo accounts do not show the real life slippage and spreads that a live account will. In
fact even if you have a system that shows forward trading accuracy of 90% plus on a
Page 25 of 43
demo account, you can realistically expect to see a drop of at least 15% when trading a
real live account.
In practice, the best Trading system I have seen to date, had a forward trading accuracy of
76% on a live account, with most good ones sitting at the 40-60% mark.
Remember that 90% plus systems I have looked at showed a low forward trading
accuracy of 10-20%, which means most systems breakeven, or lose money when forward
trading a live account.
What can be achieved
I currently Trade 3 accounts. Each account has varying amounts in it, but currently I have
$235k spread between these accounts. I never let an account go over $100k, and tend to
like an account to sit at $60-75k.
My Trading accounts each earn roughly $3-$8k per Month. I do have the occasional
down month, where a loss is made.
Over a Year I typically double my Trading Money, which I live on. A nice living it is too.
It took me 5 Years to grow my basic starting balance of $6k to the current levels.
I intend to grow one of the accounts cumulatively from this Year onwards, by only taking
out what is owed in tax, not any of the profits. I can only do this via an account being
traded through a trust abroad.
Page 26 of 43
Which systems do I use Currently ?
First let’s talk about which systems I have rejected ….. Over the last 25 Years I have
tried everything. Initially the systems were purchased for eSignal and TradeStation, then
in more recent Years these systems have become MT4 expert advisors.
A list of all my purchases is available at the back end of this document under the chapter
heading “Systems purchased and rejected”.
The internet has also changed the way in which I can assess systems to. Years ago, you
had to buy the system to be able to analyze it in detail. Today, you can often analyze a
system for velocity statistics and even FTA using published back-test and forward
trading results on a systems website.
Current Systems being assessed (Through forward real account Trading):Forex SAR ADX
IvyBot
Robovore MK2
Robovore MK3
(Has good moments, poor FTA of 36%)
(poor FTA of 27% over 85 Trades, large losses)
modified Robovore MK1, added adaptive filtering
added Average True range stop and part profit take.
Own Systems actually being Traded :Robovore
(My Own system, developed over the last 3 Years. Based on ideas that
have been kicking around on and off for 15 Years. Currently showing
76% FTA as an average across 3 live trading accounts)
SwingTrader
Purchased several years ago from a retiring Stocks Trader. Designed as
an eSignal plugin, This system trades the DOW30 stocks. Has been
modified over the Years by me. Now also has a complete auto Trade
placement module written in C++ that places trades on an Interactive
brokers account automatically
What’s Next?
One of the things I have learned over the last few Years is that MT4 Brokers all operate
slightly differently. Most MT4 brokers do not like scalpers, with some actually stopping
accounts that show scalping techniques and trade frequency.
This means that systems, especially automated systems, need to look to increase the
profitability per trade, up from 5 pips to perhaps 50 pips or more.
Page 27 of 43
The problem is that different brokers operate slightly different data for price action of the
same currency pair (EUR/USD for instance) and that a truly automated system needs to
understand what these variances are, and to be able to include them in any system
optimisation.
This means that the only way to make a system truly profitable, is to gather info on every
trade a system places on multiple clients, using multiple brokers.
I therefore see only two choices available for further development of my own systems
(and in reality for anyone else’s) to make them more profitable.
1:- I open several 10s of accounts at different brokers, and gather the information over
time. (I already partially do this, and currently have 7 live accounts, but this is time
consuming)
2:- I give access to limited places using my own system. (I could grow the number of
actual accounts being used by other people running Robovore over time, and potentially
gain access to data from hundreds or even thousands of Trades very quickly)
As of 2007, what I actually did was make Robovore available in limited numbers to
interested beta testers about a Year ago. It worked. I have 18 beta testers trading
Robovore currently (made up of friends and family). The data is working, and helping
Robovore re-optimize system parameters very well. But it could be even better!
One of my beta testers has suggested I offer a limited offering and let the general public
purchase Robovore to become part of the beta programme, thus extending Robovore’s
data gathering ability, and hopefully it’s abilities and accuracy over time. I have therefore
written a website offering Robovore for sale. The website for Robovore is here :http://dtcoach2.robovore.hop.clickbank.net/
Please bear in mind that Robovore is not on truly general release, and probably never will
be. Places are limited.
Page 28 of 43
Why do most Traders fail?
The two main reasons for failure are :1:- Unrealistic expectations. I am amazed by how many ‘newbies’ expect to load a
system onto a live account, and expect to make a living by the end of the Month, and a
fortune within a Year….. NOT going to happen. Once they realise this, usually within the
first week or two, they are gone ……!
This lack of patience is why 80% of ‘newbies’ quit pretty quickly.
2:- 99% of systems available are not consistent. Don’t assume that the first system you
buy will be the one ….. this is highly unlikely. It may make money for a while and then
fail. You need to spend time assessing a system properly, as outlined in this document.
Don’t expect to see profitable trades immediately. Trading takes patience. (95% plus of
new Traders quit trading after a short time, or at least quit a system and move onto the
next one ….. !)
Why ?
The primary reason is un-realistic expectations, combined with a complete lack of
patience.
Some of the the scenarios that cause genuine System rejection are :1:- You start to Trade the system as a new Trader, just as the system enters a trending
period. The system makes money for the first 20 Trades (over the first week). You cannot
believe it. You have found the holey grail …..!
You look at the money being made, project ahead, and promptly increase the risk
multiplier. The trend changes, and you lose all your winnings and maybe even more. You
blame the system and quit.
Beginners concentrate on how much money they are going to make. Professionals look at
how much money they are going to lose. Don’t get greedy too early. Look to start small
(in profits and lotsize, with the max amount of trading margin you can muster)
2:- You start to Trade a system as a new Trader just as the currency pair enters a trend
change. The system loses money in the first few Trades (perhaps 6 or 7). You conclude
that System is poor and quit.
Patience. Do not expect an immediate return. Give it time. I typically take 6 months to a
Year to assess any trading system. You should look to do the same.
Page 29 of 43
3:- You start to Trade a new system on a demo account. You let it run for a Month or so.
It does quite well.
You open a live account and deposit a small sum of Money as trading margin. Once the
system starts to Trade live, you then actually start to look closely at Trading, which you
have not done with the demo account previously.
Don’t change the Trades, let the system run …PLEASE !
You notice the initial safety stop sizes can be quite large, and that some trades can draw
down and lose money. You start to change stops, and even exit some losing trades early.
You become frustrated with the system, and even start to place Trades manually.
Your trading account suffers. You blame the system and quit.
Again Patience. Not much point having a system, if you are not going to stick to it.
Page 30 of 43
4:- You watch the new system for a while and conclude that the initial stops are too large.
This is confirmed when the first losing trade occurs, and it is several times bigger than
the winning trades. You conclude that the system has no trading logic, and is bound to
lose.
So you quit.
Logic does not work when intraday trading. At least not within traditional parameters. If
it did, everyone would be making money. They are NOT.
Give any system Time, initially on a demo account. Think Months, not Days.
Limitations of Automated Trading systems
There aren’t any …. !
As processing power grows, so does the sophistication of automated Trading systems.
The truth of the matter is that manual Intraday Traders have always stated that automated
systems only make money some of the time, and that’s how it will always be.
And yet, almost weekly, these Days, I hear of another old time Day Trader who has give
up, after a string of losing weeks.
I am also privy to some rather interesting statistics gathered by investment banks and
traditional brokerage companies. Did you know that more than 60% of today’s Trades in
Forex are being placed by algorithmic system derived triggers?
What does the future hold?
I am now looking at using fully blown Neural networks, working in conjunction with
client based fuzzy logic, that has a grasp on more than 230 technical indicators and
indices.
In the next 4 - 6 Years or so, I am expecting my first self aware neural network.
I am also expecting to be able to hold a conversation with it with regards to Trading
ideas. I also have a hunch, that very quickly, this self ware neural net will be able to out
Think, and out trade any manual trader within a very short time.
I am expecting to be able to purchase an island soon afterwards …..
Page 31 of 43
Systems purchased and rejected
Here is a current list of systems and indicators I have purchased :For Trade Station / eSignal:%Big Dog Trading System
%C Big Dog
%C Electric Day Breaker Trading System
%C Early Late Breaker
%C Playgap
1-2-3 System by John Schmidt
1-2-3-4 System by John Schmidt
25X25 by Charles LeBeau
AATS Accurate Trading CCI ZLR Trading System
AATS - Accurate Trading Dreamtick Trading System for GB Pound
AATS CanOpen Trading System for Russel Index
AATS LTC ES Scalper System
AATS Phoenix Trading System for S&P 500 Index
AATS Rhino Trading System for Russel Index
Alfa-MAXX for Tradestation
Abalone Trading System for TradeStation
Aberration Plus System for Tradestation
Advanced GET RT for TradeStation2000i v1.3 Build 396
AG-Xtreme Tier 1 for Tradestation
ALFA-MAXX for Tradestation
ART Charting Software for Tradestation 8.x
ART Real-Time Indicators & Pyramid Trading Point System
AS S&P Raptor & Bear Trading Systems
ATS-3200 trading software
ATS-6400 trading software
ATW Indicators and Strategies for Tradestation
Brix (Alfanet Basis III) Trading System for Tradestation
Allbest contrarian for Tradestation
Allbest investor for Tradestation
Allbest manager for Tradestation
Allbest swing for Tradestation
Allegro Intraday ND, NQ and SP for Tradestation
Allegro Swing ES, ND, NQ and SP for Tradestation
ALLIGATOR.ELD
AmCan Full Suite Package www.amcantrading.com
AmCan Systens and Indicators for Tradestation 8
Andromeda I or II Trading System
Anomaly 1 & 2 Rel. 1.01
Anticipation 1st Born for Tradestation
Anticipation
Anticipation II
APEX SYSTEMS by Blue Wave Trading
Arcs for Tradestation
ART Real-Time Indicators & Pyramid Trading Point System
ARCSPLUS ES for Tradestation
Page 32 of 43
ARCS-ND and NQ for Tradestation
Arcs-NQ for Tradestation
ASCtrend for Tradestation
AscTrend (open-code) for Tradestation2000i
AscTrend for Tradestation 8.x (2007 release)
Atlas-35 System
ATS 3200 Trading System for Tradestation
ATS-6400 for Tradestation
Axiom Index Swing System for Tradestation
Axiom Long Term for Tradestation
AxSym for Tradestation
Aztec Global for Tradestation
Aztec Trading System for Tradestation
Balance Point for Tradestation
Baramundi Trading System for Tradestation
Big Dipper for Tradestation by Charles LeBeau
BJ for Tradestation
Blue HorseShoe for Tradestation by Stafford Trading Co.
Blue Line Trading by Tatkin Trading Company for Tradestation
BlueWaveTrading Indicators for TS
BOND 007 for Tradestation
Bounce 1 for Tradestation
Bounce 2 for Tradestation
Brain Trading System 7.0
Breaker for Tradestation by Tom Peetoom
British Metrics for Tradestation
BRIX (Basis-III) for Tradestation
Builder & Shockwave Trading Systems for Tradestation
BWT Area 51 for Tradestation
BWT Matrix for Tradestation
BWT ROC N Russell
BWT Tidal Wave for Tradestation
BWT Trend Indicators Package I & II by Blue Wave Trading
BWT Zones / BlueWave Trading Zones 5.01
C-3 Trading System
Cable24 Trading System
Candle Forecaster Expert
CandleStick Patterns Indicator
Candlestick Setup Codes
CAPRICORN T-BOND & T-NOTE TRADING for Tradestation
Capricorn US for Tradestation
Catcher by Andy Will
Catscan 3 Plus
Catscan II for Tradestation
CatScan for Tradestation
Catscan III for Tradestation
Catscan III Constant
Cesar Trading System
Charles Le Beau - 25 x 25 Bond System
Charles Le Beau - Big Dipper Bond Trading System
Charles Le Beau – Crossbow
Charles Le Beau - MACK Trading System
Charles Le Beau - PRUDENT S&P Trading System
Charles Le Beau - Roughneck CO Trading System
Charles Le Beau - Strategic Swiss Franc
Page 33 of 43
Charles Le Beau – Sward
Checkmate for Tradestation
Cipher for Tradestation
Clayburg's indicators for Tradestation
Cobalt ND Trading system for Tradestation
Commando Moneyline Indicators
Commando Trader II for Tradestation
Compass Trading System + Naviagator + Surveyer
Crashproof for Tradestation
Crossbow for Tradestation by Charles LeBeau
Currency Conquest I for Tradestation
Cycle Trading System by Walter Bressert
Cyclone for Tradestation by John Clayburg
Dale Legan System bundle include:
Dale Legan - Catching Waves with a Multi-Cycle Momentum Model
Dale Legan Indicators’ Set
Dale Legan Confluence Function
Dealer Choice Pro for TS
Deep Throat by RLM Business for Tradestation
Del Mar for S&P and Nasdaq E-minis for Tradestation
Delta Graphics 3.12 Director's Edition for Intraday and Forex
Delta Phenomenon System
Delta Threshold for Tradestation by Day Trading Inst.
Dennis Meyer’s System bundle include:
Dennis Meyers' advanced short-term systems and indicators
Dennis Meyers' basic short-term systems and indicators
Dennis Meyers Short Term Indicators v 2 and Long Term v 4and 5
Dennis Meyers' Super Walk Forward Optimizer
Dennis RSI for Tradestation by Robert Dennis, Jr
Di Napoli Indicators
DiNapoli Oscillator Predictor
Diversified Swing Trader (DST) for Tradestation
Dollar Trader for Currencies
Dominant Short-Cycle Indicator
Double Play by Trade System for Tradestation
Drummond Geometry - Market Flow Indicator
Drummond Geometry .ELA Indicators for Tradestation
DTTB (Daytraders Talking Tool Box ) for TS
Dynamic Gann Level System for TradeStation 2000i - 4.0 / Metastock / Excel
Dynamic Time
Dynamo for Tradestation by Chuck Hughes
Early Bird III Trading system for TS 8.1 and TS2000i
EarlyBird for Tradestation
EarlyBird II for Tradestation
Ed's Crossover Indicator by Rhythm of the Markets
EMini Master Pro for eSignal
Empire Euro Dollar Trading System by Keener Capital
eMESA for Tradestation
Entry Point 2007 for Tradestation
EpicDynaTrend for Tradestation 3.3
ETS - Daily for Tradestation
ETS - Interim for Tradestation
ETS Day Trade for Tradestation
ETS Range Breakout for Tradestation
ETS Trading System by Michael Mermer for Tradestation
Page 34 of 43
EuroDynamics LT
Euro Metrics Trading System
EuroTrader Trading systems disclosed or non disclosed version for TS2000i or TS8 version.
EVE T Bond by Emil Van Essen
EZ2Trade Indicators for eSignal
Feeder for Tradestation by Clayburg
Fibonacci Cluster Locator Professional
Fibonacci Trader Indicators dll
Floor Traders Tools for Tradestation by Roy Kelly
Focal Point Trading System 2002
Formula 171322182723 Strategy for FOREX
FT S&P DayTrade for Tradestation
Fusion by Strategic Trading Systems for Tradestation
FX-23 Plus EUR for Tradestation
FX24 Trading system
FxDynamics
Gann Pivot System by Bruce Babcock
Gear for Tradestation
Genesis B Japanese YEN Trading System
Global Server Convertor
Global Variable bundle include:
Global Variable DLLs
Global Variables Pro
Golden Eagle III Trading System
Golden SX Plus Trading System for TS
Grail walk-forward Optimizer
Grail Genetic Optimizer, Grail Walk Forward Optimizer, Genetic Portfolio Optimizer, Computer
Assisted Strategy Builder for Tradestation
Guenther K Currencies for Tradestation
GUESSNOT ABC for Tradestation
Hats 2002 and Trader's Delight for Tradestation
Hawkeye Indicators for Tradestation
Helix SP trading system for Tradestation
Hit and Run I&II for Tradestation
HOT ZONES For TradeStation 7+
Hurst Channel 5 for Tradestation
I-Master eMD by Trade-System for Tradestation
I-master eRL by Trade-System for Tradestation
I-Master Trading System by Murray Ruggiero
Impetus for Tradestation
Indicia Technologies Systems FOREX Trading Systems
Insight for ES, ND, NQ for Tradestation
Insight Strategic Investment Trader
Interplay by Strategic Trading Systems for Tradestation
Investor’s Dream
Jan Arps - Adam Price reflection bars indicator for TS
Jan Arps Canopus for Tradestation
Jan Arps Hurst Polynominal Regression Bands ToolKit for Tradestation
Jan Arps Crown Jewels Package
Jan Arps Indicator & System bundle include:
Danton ShockWave Tool Kit
Fox Waves Tool Kit
Jackson Zones Tool Kit
ProScan S&P Scalping System
Sigma Bands Toolkit
Trading With Steve Woods Cumulative Volume - Float Indicator
Page 35 of 43
Jan Arps System bundle include:
Jan Arps Swing Box
Jan Arps Swing Day Traders Tool Kit
Jan Arps TT6 ALPHA CENTAURI for Tradestation
Jeff Cooper 5-day momentum indicator
J for the Eurodollar
Joe Krutsinger Mechanical Trading System bundle include:
English Channel Trading System
GearShift Trading System
Parrot Trading System
Joe Krutsinger System bundle include:
Joe Krutsinger - $36,000 worth of trading systems
Joe Krut's 12 Ultimate Systems
Joe Krutsinger Trading System bundle include (TS code revealed):
Dealer Choice Pro Trading System by Joe Kruts
Dream Trading System by Joe Kruts
Index Point 2003 Trading System by Joe Kruts
One Trade 2002 Trading System by Joe Kruts
Position Point Trading System by Joe Kruts
Queen Trading System by Joe Kruts
Ranger Trading System by Joe Kruts
Traders Delight Trading System by Joe Kruts
Traders Dream Trading System by Joe Kruts
Trio Trading System by Joe Kruts
Joe Krutsinger - Call Buyer
Joe Krutsinger - Index Point
Joe Krutsinger - Last Dollar for Tradestation
Joe Krutsinger - MEASURE
Joe Krutsinger - TIMEMACH
Joe Krutsinger - Time Charger Trading System
Joe Krutsinger's "Joe Krut System" for Tradestation
Joe Krutsinger's Focal Point 2004 for Tradestation
Joe Krutsinger's Hats 2002 and Trader's Delight for Tradestation
Joe Krutsinger's Prince 2002 for Tradestation
Joe Krutsinger Quarterpounder FOREX Trading Systems
Joe Ross Trading Methods (include: Andy 60T, Andy 40T, Zanibar, Easy Bond, Zulut, Ambusht)
John Clayburg Indicator Package
Jurik Tools DLL version (JMA,CFB,DDR,VEL,WAW,RSX)
Jurik Tools for TradeStation 2000i / 8.1
Jurik TPO - Turning Point Oscillator for Tradestation
Kase StatWare Trading Indicators 5.3 for Tradestation
KC Collection for Tradestation (The Futures Group)
Kolb Derivatives Options! Software
KwikPOP LATEST for TradeStation
Kwik Pop Indicators Package 4 (2006 release)
Larry Williams Indicators for Tradestation bundle include:
Larry William’s .ELA from Seminar
Larry William’s Systems
Larry Williams Inner Circle Indicators
eBook How ro Trade Better- Eliminate Fear
Larry Williams interview
Bonus: Larry William's indicator and system collection
Linda Raschke System bundle include:
Linda Raschke - LBR Edge
Linda Raschke Critical Day
Little Big Horn system
Page 36 of 43
Long-Term Trading System bundle include:
Anomaly 1 Rel. 1.01
Anomaly 2 Rel. 1.01
Ready-Set-Go Rel. 1.02
Wave Rider Rel. 1.02
LTS DayTrading System bundle for TradeStation 8.1 Include:
LTS Breakout Trading System
LTS Barracuda Trading System
LTS Optimum Trading System
Magic Dots Trading System
Magnet for Tradestation
Magnet Zero for Tradestation
Magnitude for Tradestation
Market Analytics System bundle include:
Market Analytics - Exhaustion Bars
Market Analytics - Fractal Toolkit
Market Analytics - MA Predict
Market Analytics - Momentum Toolkit
Market Annihilator System
Market Profile Indicator for Tradestation by Sirtrade
MarketAxe Trading Indicators
MarketMind
Mechwarrior ES for Mini S&P futures contract for Tradestation
Mechwarrior SP for large S&P futures contract for Tradestation
MESA 2000 for Tradestation
MESA Bonds for Tradestation
MESA Max for Tradestation
MESA Sierra Hotel Trading System
MESA T-Notes or Mesa Notes for Tradestation
Miles Dunbar's Great White - ES, ND, NQ, SP for Tradestation
MILLENNIUM 2000 Trading System for TS
MiniMax Trading System for Tradestation
Mini SIMPLICITY -for mini S&P 500 and regular Dow Jones futures index
MoonTide S&P Trading System
MTPredictor Extensions version 8 for Tradestation
MTPredictor for Tradestation 8.x
Mystery Trading System
Naviagator Trading System
NATT 2000 collection for Tradestation
Neural Scope Tick Trader (S&P Emini) for TS
NexGen T-3 Professional (ABC Trend & MACD indicators + AutoFibs Strategy included) NEW
release
NexGen T-3 Fibs Professional Traderfor Tradestation
NinjaTrader 6
Ocean Trading Indicators by Jim Sloman with Sloman with manuals, video tutorial, user guide,
Ocean Theory ebook
Octane Trading System for Tradestation (#1 S&P system by futurestruth)
Omega ProSuite Indicator Pkg by Trade Concepts
OmniCom v5.17 (for TS2000)
ONIX for Tradestation
Optimax (fast optimization for Tradestation 8.x) Level 3
Outsiderfor TS for Tradestation
Owndata 2.4
Parabolic Stop for Tradestation by Welles Wilder
Pegasus for Tradestation
Pendulum for Tradestation
Page 37 of 43
Pieter Hoenderdos System
Position Point for Tradestation
Pound (British) Metrics Trading System
PrecisionTrader - BuySell Point Indicator
Prime-Line Tradestation Suite
Prince 2002 for Tradestation
Profit Quest for Tradestation by ProfitQuest Systems
Profit Trader 7.1 for Tradestation (by Walter Bressert)
Profitunity Indicators
ProScan S&P Scalping System, Sigma Bands Toolkit, Trading With Steve Woods Cumulative
Volume - Float Indicator
Quantum Leap Zone Indicators Package
Queen for Tradestation
R&W MasterSuite FOREX Trading Systems
Ranger for Tradestation
Raptor II with plugins by Steven Primo
R-Breaker by Rich Saidenberg
RC Conservative II for Tradestation
RC Miracles II
RC Success II
RC Miracles III
Ready-Set-Go Rel.
RevMark + ATM Trading Systems for TS
revMark Trading System for TS
Rina Dynamic Zones Analysis for Tradestation
RINA Money Manager 7.0
Rina OptiLogix for Tradestation
Rina Performance Suite 7 for TS2000i and TS8 (include: Rina Money Manager 7, Rina Portfolio
Evaluator 7, Rina 3D)
RINA Portfolio Evaluator 7
Rina Portfolio Selector Pro Toolbox 1.5
removed
RINA Portfolio Stream 6.0 for Tradestation include Optilogix module
RINA Portfolio Stream 2001 for TradeStation2000i
R-Levels for Tradestation by Rich Saidenberg
R-Mesa 8 for Tradestation 8.x. Other versions available for TS2000i
Robert Miner’s Stochastic RSI
Roy Kelly Advanced Package for Esignal (ALL)
Roy Kelly’s Floor Trader System
Roy Kelly's Floor Traders Toolkit V 8.2 (open code)
Roy Kelly'sTrend Pro v8.2
Roy Kelly's Money Maker
Floor Traders Tools 8.2 for TS by Roy Kelly
Roy Kelly's Trend Pro for TS 8.2 for Tradestation
RS Houston (For TS)
Ruggerio Global Varariables Professional Edition
Ruggiero Stock Traders Toolbox
Rumba for Tradestation
S&P Day for Tradestation
S&Pmd for the S&P500
SAFER Trading System by Joe Krutsinger
Safir-X 3.4
Safir-XP incl. SirTrade 2004
SAILOR by ALFARANDA
Samurai 35 for Tradestation
SAM S&P Daytrader for Tradestation
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Scalper Pivot Point for Tradestation
SharpShooter Trading System
Shockwave or Danton Shockwave
Shogun by sptradingsystems.com for Tradestation
Sierra Hotel for Tradestation
Simplicity for Tradestation
SirTrade 2004 for TS (incl. Safir-X)
SmarteTrades indicator package
Smart-eTrades e-Mini DayTrader Series (Eagle, Dragon, and Raven Trading Systems)
Sniper Trading System for Tradestation for trading e-mini S&P futures (code revealed)
SP \ U for Tradestation
SP500 MD for Tradestation
Spectrum Trading System
Squeeze Play & Trendy Wendy Trading Systems
Stafford STC Daytrader Trading System
STAT for Tradestation
Statmirror for Tradestation
STC S&P DayTrade by Stafford for Tradestation
STC V-Based S&P Daytrade System
Sunny Harris Indicators
Support/Resistance for Tradestation by Walter Studnicki
Surveyor Trading System
Swing Index System for Tradestation by Welles Wilder
Synergy for Tradestation
T-MESA by MESA SOFTWARE for Tradestation
Tactical Trading indicators package
Tango for Tradestation
The Big Blue Trading System by Mike Barna
TCI strategies and indicators for Tradestation
The GRAIL GGO with CASB 1.594
The Grail Global Futures Trading System for TradeStation
The KC Collection Channel Method
The Turtle Trading System
Thirteen Mechanical Trading for TS
Tod Mitchel Indicator Package
TomDemark System bundle include (TS code revealed):
Tom Demark Indicators Package
Tom Demark Scalper System (incl. Excel template)
Tom DeMark's Sequential Trading System
TradeMaster for Tradestation
Trader's Dream for ES and SP by Joe Krustinger for Tradestation
Trader's Profit Motive Traders Software for Tradestation
Tradestation 2000i / Prosuite 2000i
Tradestation 8.2 for E-Signal newest build with OwnData 2.5. It supports data from eSignal,
Interactive Brokers (TWS), Quotespeed Tenfore, Patsystems (J-Trader), IQFeed, MarketCast,
adeStation2000i GlobalServer, ASCII (plain text)
Tradethemarkets bundle include:
Scalper Buys and Sells
Auto Multi Pivots
Squeeze Indicator
Bricks Indicator
TTM Trend Indicator
Trading Alchemy for Tradestation Complete Package
Trading Alchemy Trender Package
Trading Magic Trading System
Trend Channel Pro for Tradestation
Page 39 of 43
Trend Reflection for Tradestation
Trend Simplicity Trading System for Tradestation
Trendchannel for Tradestation
TrendChannel Pro System include manual
Trend Legacy by Trend Simplicity for Tradestation
Trend XP ES by Dream Trading for Tradestation
Trilogy for Tradestation
Trio System for Tradestation
TurnSignal Indicators for eSignal
Twist & Shout by RLM Business for Tradestation
Two Smooth and Advanced MA (AMA) by Roy Kelly
TZAR for NQ, ND, and ES for Tradestation
Universal 2.0 for Tradestation
Universal for Tradestation
Universal LT & II
Universal LT for Tradestation
U.S. One for Treasury Bonds
Using Fibnacci Ratios and Momentum
VSA PRO by TradeToWin for Tradestation
Walter Bressert System bundle include:
Walter Bressert Indicators
Walter Bressert's ProfitTrader 7.1 incl. Manual
Walter Bressert's - The Cycle Trading Manual (incl. ELA File)
Wave Rider Rel. 1.02
Waverider for Tradestation
Weaver-DT for Tradestation
Weaver-ST for Tradestation
Wildcard for Tradestation
William Tell Bond for Tradestation
Winning Edge System by National Trading Group for Tradestation
Wood Indicators for Tradestation
XS Bonds for Tradestation
XTrader SP System for Tradestation by Clayburg
Xtreme for Tradestation
Zeeport for Tradestation
ZMS Ultimate Timer by SmithWorks for Tradestation
Zone Trading System by Blue Wave Trading
And for MT4 :2/20-Day EMA Breakout System by David Landry
25x25 Bond Trading System by Charles LeBeau and Terence Tan 2/20-Day EMA Breakout
System by David Landry
ADX & Linie Kierunkowe by Grzegorz Urazinski
ANTI Trigger Trading System by Linda Bradford Raschke
AT3 by Steve Burns
Automatic Support and Resistance Trading System by Mel Widner
Base Channel System
Bianchi Approach
Binary Wave System Test
Bollinger Band Histogram Trading System by Steve Karnish
Breakout Range2 by Mark Vakkur
Bull Fear/Bear Fear with DX System
Buy Trigger Trading System by Glenn Wallace
Page 40 of 43
CCI Moving Average Crossover System
CCI Spike Trading System CCI Moving Average Crossover System
Chandelier Exit
Chandelier Exit - Improved
Chandelier Exit 2
Chandelier Exit Variation II
Combining Trend and Oscillator Signals System by Jeremy G. Konstenius
Commodity Channel Index Buy & Sell Signal
Coppock Curve - Signal Formulas
Crude Oil Seasonal Trade #2 by John Momsen
Cyclical System by Jeffrey Owen Katz
Displaced Moving Average Trading System
Dynamic Break-out System (DBS) by George Pruitt
Entry Condition
Exit a Long Position
Exit on Close
Experimental Williams Trading System
FibFO
Forecast Oscillator System Alternative
Forecast Oscillator Trading System by Steve Karnish
Gap System's (3 systems)
Gap Up System With Delayed Exit
Genesis of a Simple Futures Trading System by Jay Kaeppel
Gil Raff MarketSpace Timing System (2 systems)
Half a line is fine Trendline System Gil Raff MarketSpace Timing System (2 systems)
Historical Volatility Daily
IFT - Intelligent Futures Trading Exploration by Chick Goslin
J2L Trading System by Jean-Louis Lepreux
JKL by Jaroslaw Kilon
Key Reversals System by Massimiliano Scorpio
Linear Regression System by Jeff Ledermann
MACD Crossover System Test by David Evans
MACDhistogram Trading System by Marek Lewandowski
Maximum Profit System I
Maximum Profit System II
MetaStock System Test 01 - R2, S/C, MFI (Vol. Required)
MetaStock System Test 02 - Tema Binary Wave Composite, QStick
MetaStock System Test 03 - Tema PDI - MDI, ADX (Vol Required)
MetaStock System Test 04 - Tema PV Binary Wave, StochRSI_21 (2 systems)
MetaStock System Test 05 - Tema StochRSI_13 & 55 MetaStock System Test 04 - Tema PV
Binary Wave, StochRSI_21 (2 systems)
Miesal Indicator System Test
Momentum Time & S/C
Moving Average of Relative Strength System
No Name 1 by Svein Andersen
O! Inercja i jej srednia by Kamil Jaros
Onno's Binary Wave System Test
Pathfinder Trading System by Nelson Freeburg
PLdot H-L Price's by Przemyslaw Neyder
PLdot MP Price's by Przemyslaw Neyder
Point of Balance Trading System by Walter Downs (2 Systems)
Przeciecie Srednich by Jaroslaw Kilon
Psychological Index
R2/Regress Slope/CCI/TSF
R2/Regress Slope/CMO - All Signal Formulas
R2/Regress Slope/MFI/TSF - (Vol Rqd)
Page 41 of 43
R2/Regress Slope/Qstick - (OHLC Rqd)
Recursive Moving Trend Average by Dennis Meyers
ROC Moving Average System Test
RSI / Wstega Bollinger'a by Piotr Wasowski
RSI Divergence Trading System
SeqSETUP & SeqINTERSECTION
Simple Fut WIG 20 System by Pawel Rejczak
Stochastic Cross Trading System
Stochastic MA System
Stock Rhythm System by Jeffrey Owen Katz
System Test Examples (3 formuly)
Tema PDI - MDI
Tema PV Binary Wave System
Tether Line Trading System by Bryan Strain
Three Day Engulfingbear Short Trade
Three Moving Average System by Jim Greening
Threshold Trading Revisited - RSI by Rudy Teseo
Threshold Trading Revisited - Stochastic by Rudy Teseo
Time Series Forecast System Test
Trend Analysis Index System by Adam White
TSF Optimised Trading System
Ultimate Signal Generator I & II (2 formuly)
Volatility Bands As A Long Term Strategy by Ahmet Tezel (2 Systems)
Volatility Index System by J. Welles Wilder Jr.
Volume Oscillator System w/Optimization
MS Expert Advisors
%Bands I
%Bands II
ADX with Stochastic Signals
Bogie nn8
Bollinger Band's & 13 Day Moving Average by Piotr Wasowski
Bull Fear and Bear Fear Expert by Walter Downs
Combining Statistical & Pattern Analysis, Shark - 32
DeMark's Sequential(tm) Trading System
Double Stochastics Expert
Dunnigan Trend
Dynamic Moving Vertical Lines
FAP Turbo
(amazing amount of hype with this product. I have never seen a
consistent return though)
FAP Turbo Evolution
(overly complex installation geared at making money from kickbacks
from single supported swiss broker)
Fibonacci Ratios and Momentum by Thom Hartle
Fisher_m11
Forex Raptor
Forex Autopilot
Forex Autocash
Forex Tunnel
Forex Tracer
Forex Funnel
Forex RoboTrader (not a bad attempt, cam make good money when market is trending)
Forex RangeTrader (great idea, patchy returns)
Page 42 of 43
Forex Roboteer (close but no cigar, this system actually auto optimizes, but only really works in a
trending market. That said, it has produced very good returns, and is definitely on the right track.
One to watch)
Fractal Up and Fractal Down Expert by Manoj P. Abraham
GANN Swing Expert (good for stocks)
Hilbert Squelch Indicator Expert by John Ehlers
I_trend
Key Reversals Expert by Massimiliano Scorpio
Market Facilitation Index Expert by Thom Hartle
Mutated,Variables ... by Walter T. Downs, Ph.D.
Market Facilitation Index Expert by Thom Hartle
Scalp_net_v1.3
Smoothed Stochastic Expert Market Facilitation Index Expert by Thom Hartle
Swing Trading Expert
Taichi DeMarker
Page 43 of 43

Trading Forex Automated Systems Page 1 of 43 Making a Living

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