Beware of Softwares

#1
Hello Readers !

I am a 62 years old software engineer and have put up 100s of algorythms for the account of some banks I cannot name here.

After 20 years of robot trading I have to come to the conclusion that they are not trustable.

Why? Because trading is a matter of being there 100% of the time. If your software failed or you have to reboot your computer, you may get in serious trouble.

Network communication are better then ever but still, sometimes glitches occurs and that is where robots may be dangerous.

I could tell you horrible stories around softwares but I prefer to promote human initelligence. Nothing will ever replace a human brain.

On that matter, trading Forex, I prefer to use a manual trading strategy that gives me between 10 to 45% monthly. I had bad trades, bad days but never a bad month.

I will reveal that simple strategy in a moment.

You can also learn more about Forex on that website https://vortexinvestment.net

Everyday or near everyday a pattern occurs on EUR/USD when you know how to find it, you get one trade per day and it takes only about 1 hour. No swap fee and no stress of not knowing if your VPS is still onlilne or if it did not reboot while you were away. No software glitch losing tracks of its own doings.

When the New York trading session opens in the morning, the London session still goes on for a few hours. That cause some chaos but also some preriodic frequencies.

My strategy is to look at the New York pre-market which happens about 1 hour before NY session opens. I simply observe what the trend is, then, MOST of the time but not always, once the NY session opens the price of EUR/USD tends to reverse.

Observe if there is a slow down at the London noon and if the price starts to reverse at NY open. Jump in and close maybe 10 minutes or so after. This way you never pay swap fees and your day is off, you can go play golf. If you Google: Best Forex Strategy, you will find tons of supposed to be the best and even 100% success rate strategy, but most people writing or explaining may be lucky people who did it a few times. Make sure your guru is serious and been trading for a long time. I have tried tons of strategies, and most does work in perfect circonstances only. The NY Open works nearly everyday. It is much better then a robot who could wash up your account in some seconds.

The New York Breakout strategy is traded within the opening hours of the New York forex time zone. It is meant to catch the big moves that occur in the first hours of the New York open, between 1pm and 3pm GMT. You do not need any indicator, just price action.

The principle behind this strategy is to trade in the direction of where the market players push the currency pair once the overlap period between the London and New York time zones occur. Just before the New York session opens, the London session would have thinned out to some extent and traders who would have woken up to trade during the New York session would be looking to capitalize on any market events worth profiting from.

This strategy is traded on the 15 minute chart. As a prerequisite, you must determine the GMT offset of your platform. That is, determine by how many hours your platform’s time differs from the Greenwich Mean Time. You can do this by looking at the Market Watch window where the time of the broker is written. Then simply check your local time to see the difference. Add this difference to the difference between the local time and GMT and you get the GMT offset.

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The long trade setup is to trade the breakout of the upper horizontal trend line drawn here. Allow the price action to breakout of the trendline and then trade with a profit target of 40 to 50 pips, while setting a tight stop loss of 10 pips, set just below the broken trend line.

The principle is to allow the price to pull back to the the upper trend line after a candle has closed above it, and then take the trade using either a Buy Limit or a Market Buy order.

The yellow shaded area is our area of interest. We can also see the trend lines and grid lines drawn by both indicators. The breakout candle is seen and the pullback is also seen to occur at the same time that the MACD histogram is blue in colour. But you can figure that out without the MACD. This opened the door for a long trade on the EURUSD, which actually moved a distance of 100 pips on the same day.

Stop Loss

The stop loss is set under the lowest candle of the pattern. Take Profit This is left at the trader’s discretion, but should be at least double or triple the stop loss.

The short trade is taken in reverse of course.

Here, we look to trade the breakout of the lower trend line demarcated by the ant_GU Breakout indicator. We see this clearly shown on the snapshot below:

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The breakout is seen, and the long black candle which followed opened with a pull back to the lower trend line before taking off on a long journey down south, producing a move of close to 150 pips. At the same time, the MACD histogram showed a red colour, which supported the bearish bias for the move.

Stop Loss

The stop loss is set at a few pips above the lower trend line marked by the antGUBreakout indicator. Take Profit This is left at the trader’s discretion, but should be at least double or triple the stop loss. This strategy is very simple to implement and can be used to pick a lot of pips from the market month after month. Test it out on demo before applying it to a real money account. Simple and done in a few minutes everydays.

Read more on: https://vortexinvestment.net

Thanks
 

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