[B]Forex Assistant[/B]
Robominer is not at all what I had in mind! :mad:
This EA is deadly! It takes Long trades when the market is shorting… “certain in the knowledge that the market will reverse” Hahahahaha. It states you should have a minimum account balance of $1k preferably $5k and the max lot size should be 0.1% of your balance. Alarm bells not ringing yet! 
No I was sugesting trading with the intermediate trend. 
I was referring to the fact that the RoboMiner has been working without loss for over a year and a half without loss. The subject was a no loss trading system. As to whether the system is sound is a whole nother subject, which I would be happy to debate with you but not here. I maintain however that the idea of a no loss trading system is not fantasy and should not be ridiculed just because no one has yet accomplished it with swing trading. Keep on working with it and don’t let the nay-sayers stop you. You never know what can be done until you try, and try and…
It’s been done already with grid trading, why not find away to bring it to swing trading as well. I think you can do it. Do you believe in you?
[B]Forex Assistant[/B]
I think its important, nevermore so than on a site such as this that we clearly explain the pro’s and con’s of each trading strategy. I am sure with a large enough account and small enough lot sizes (and were talking very small lot sizes here compared to account balance) eventually you will find that PA will have retraced to your original entry point and perhaps higher? But how large a draw down and how long you will have to wait for the retrace is in the hands of the Gods.
Placing trades counter to the trend is a very specialised trade best left to the pro’s who know what they are doing and why they are doing it. Theres not time enough here to go over such a trade though.
Its almost always better to trade the trend be that short term or long term.
“[I]But how large a draw down and how long you will have to wait for the retrace is in the hands of the Gods.[/I]”
Well, yes sort of. But God was a mathematician and the draw downs and how much you need to protect the account can and have been calculated. And I am averaging roughly 6 trades per day. But again, that is on a grid system because grids are perfect for mathematical trading. The question is, can we maybe combine some type of mathematical trading system to work within a swing trading strategy? I’ll think about it.
I run CoolTrade robotic traders, and have them set to take profits of anything over $50 a trade, and easily close $200 a day.
I am fairly new to Forex. I used to only trade stocks, but when CoolTrade added Forex ability to their traders, I just turned it with a very simple strategy and was waiting for $200 a trade. Then a veteran Forex trader saw my automated trader with so many positions up over $100 year and he said, “what are you doing? You’ve got to take smaller profits and you will turn over more in the long run.”
I agree. Now I take profits every chance I get.
Nice thing about the CoolTrade system is that it is all point-and-click with no programming, yet I have 100% control of everything in the strategies.
Keith
Never heard of cooltrade.
I don’t know how old they are, but if you search google for ‘robotic trading’ there are many links. Plus they are connected to some bid brokers.
I checked out CoolTrade; and it is just more of the same including traders losing their accounts. The subject was the theory of no loss trading. It is too time consuming to rush out and check post that are off subject. CoolTrade definitely does not meet the requirements of a no loss trading system.
But just because someone wanted to advertise a system that does not meet the criteria, it doesn’t mean that there isn’t more good systems in the works. I have not been able to mesh swing trading with a no loss strategy like we did with grid trading as of yet. However, if anyone has some ideas along these lines, I would be willing to work with you to develop them. I would like other options myself. Diversify, Diversify, Diversify. Except for running a profit generator (not a no loss trading system) all of my trades are in RoboMiner. Though I feel secure with that at present, I would like to have other options. If we can’t find one, then why not make one? I’m certainly will to help. Don’t give up, we won’t know what we can do until we try.
Bob
“You want to set a goal that is big enough that in the process of achieving it you become someone worth becoming.” Jim Rohn
[QUOTE=I checked out CoolTrade; and it is just more of the same including traders losing their accounts.[/QUOTE]
There is no such thing as a system where you can “Never Lose A Trade”.
If you buy a long position there is no guarantee that the position will not go down. The best you can do is develop a system that handles losing trades and through proper money management can turn it into a winner.
Regarding your comment that “traders losing their accounts”, I use that system and am also a member of their community board and do not see anyone making that statement. It is beyond my comprehension how anyone could lost their account with robotic trading. So your statement is made up and false.
Beyond your comprehension. 
EA’s are for the most part a complete and utter waste of time and money. I have been trading decades and have yet to see a consistantly winning EA. Unfortunately they are peddled to the gullable and witless as ‘your personal cash machine’ etc, etc. :mad:
Sadly this says more about the ‘playstation’ generation. There are no easy fix ways to be a consistant winner in FX least of all EA’s… if only it were that simple.
Goldman Sacks and other large institutions have proven for years that “program trading” works!
You’re just in denial.
Ha… I’m a pro trader… don’t p*ss down my back and tell me its raining. :D:D:D
What Ill-logic.
Robot Trading and Automated Trading is nothing more than putting YOUR rules into a system that guarantees that YOUR rules are AWAYS followed.
NOTHING MORE!!!
So, if you are DEAD AGAINST any kind of automation, then you are just saying that you like to eye-ball some charts and don’t worry if YOUR predefined rules are passing or not, just take a GUESS and make trades.
Having predefined rules for when to get in and out of trades is the PROPER way to invest (or trade). Doing it manually is nothing more than gambling.
You guys have been manually trading for 30 years? Well, welcome to the 21st century. Time to put away your typewriters and get a computer.
The subject of this thread is “Never Lose A Trade (Theoretically)”. How do you plan to do that? MANUALLY, where you will be skipping sound trading rules and guessing.
The best way to do it is to start with a tool (with no rules to start) and then everyone in the group throws out trading rules that they believe in, and then slowing add rules (that everyone likes) and build the trading strategy.
IT’S THAT SIMPLE. I’m not talking about VOODOO.
I’m not talking about Terminator 2 where the computers come alive and take over the world. ha. Robotic trading isn’t magic. It’s just following YOUR rules. NOTHING MORE. It just ensures that YOUR rules all get looked at and pass before a trade gets executed.
No the best way to start is with your brian. Get that part straight and the rest will follow.
Put up the criteria of your EA and lets all have a good look … lets try before we all buy.
Parameters for entry/exit, max drawdown, SL & TP. You can be sure of one thing… a critical look at your ‘holy grail’.
First, I just noticed the guy who created this thread is LONG-GONE.
Second, I simply commented that I was using a robotic trading system to hold my strategies. And immediatly got beat up for putting my rules into a robotic system because apparently using automation to help ensure that your rules pass is TABOO.
Third, I’m not a broker or investment advisor.
Finally, I don’t need a bunch of people who don’t believe in automation to scrutinize over things they know nothing about (and/or don’t believe in).
Good luck to you and I wish you continued success with your manual trading.
Since the creator of the thread is gone, I bid you farewell!
I rest my case…
Yep. We kinda waisted the whole afternoon, when we could have probably sincerely shared some good ideas for trading.
This whole discussion would have been better over a few suds in a pub.
Come to think of it, using an automated discussion system like this community board, beats the heck out of snail mail. Wouldn’t you say. LOL!
<little jab there at the end>
Cheers!
Happy Halloween!
Heck what do I know right?.. Lets see it and judge accordingly… personally I like the idea of a few suds in a bar.
Not to be argumentative or nit picky but you can’t turn a losing trade into a winner unless you have enough money to drive the price up by taking out all of the sellers. You may be able to average down and exit with an overall profit, however, the original trade is still a loser.
That is a true statement about GS. I would wager their systems are not MT4 EA based.