zentauro67 » Fri Jan 24, 2014 4:48 pm wrote:Excellent week. Great MM. DD under control. I´m glad for you, my friend.

MurphyMan » Wed Jan 29, 2014 7:59 pm wrote:Just took a look and unless I'm reading it wrong, I see you are up over 1,000 pips for the day!


I may as well ask the question that everyone is thinking. Are you planning on releasing the EA to the forum?

OK, I'm sure that you're trading Xmeter and Crossfader. And I tracked all your posts through the forum to understand how do you trade crossfader when its developers failed to do so!

Can you tell me how did you tame crossfader in your live account? If you don't want to say, it's OK.

I kept refreshing your account yesterday every 1 hr and I was astonished by the ongoing trades. The recovery trades are being fired precisely, I don't know how you managed to do so, but it's brilliant.

nonlinear » Tue Feb 04, 2014 1:31 am wrote:I do not know enough about CrossFader to gauge, but I reckon that it is tough to tell too much from your trades. You have some that look xmeter-ish, others that do not at all (like that lone wolf GBPJYP tade ). Either way, hope you make it big -- precious few stories of traders who make it long term in the Spot market, particularly with EAs. Keep at it Jose and prove the masses wrong!

An expert advisor can be designed to trade many different strategies. They can include grid strategies, hedging strategies, martingale and reverse martingale strategies, trend following strategies, correlation strategies - you name it. Additionally, you can choose to combine one or more strategies together.

Forex expert advisors can trade breakouts, news announcements only or they can be scalping expert advisors which aim to secure small profits as soon as they are avaliable. An expert advisor can be programmed to do whatever you like - the possiblilities are truly limitless.

Classic EA's look to trade bounces off of support and resistance and reversals. They enter trades when a high probability setup looks like occuring. Many expert advisors come with trailing stop losses - a feature which helps you lock in profits.They can also be programmed to monitor market conditions for reversals and then close your trade immediately when these conditions are met to lock in profits as well.

More advanced EA's can trade multiple pairs simultaneously or monitor multiple timeframes at once, giving you a wide range of options in picking a market trend - something that would take you hours if you had to do it manually.

The type of EA you choose to trade with should sit well with your overall trading style. Playing around with its risk-settings while it is trading live will give you a better feel for what it does well and you will learn it's characteristics better. If you understand what it is doing, you will have more confidence in it to ride out a bad performing patch while you continue to monitor and play with its stop-loss and take-profit levels.

While the point of forex expert advisors is to automate your trading decisions and improve trading consistency by taking emotions out of your trading, you still must pay attention to what the expert advisor is doing. This is especially relevant if your expert advisor is automatically set at a wide stop-loss of say 100 pips or more.