Trading with Winning Solution 9.4 Expert Advisor

Salams and greetings,

After a while waiting for my EA (which is supposed to be released on 13th November) I finally got the (WSS 9.4) download links from WSS support on the 20th.

The EA package was just a mere 468bkb in size (zipped) and contained 2 new indicators:
#WSS94!INDICATOR-1.ex4 and #WSS94!INDICATOR-2.ex4 along with one Expert Advisor #WSS94!EXPERTADVISOR.ex4.

Installation was not particularly easy but with guided help from the tutorial file complete with step by step instructions and few screen captures of the installation steps provided, it went smooth.

I wasted no time to fire up my NorthFinance Metatrader (which should be most compatible and optimized to work with WSS, as I was told) and begin loading the WSS EA template.

At first I was puzzled as nothing happened. No post have been taken by the EA although I am pretty sure that I have applied the EA to at least 5 currency pairs on my NF Metatrader. Not after 8 p.m (according to NF server time) that my EA start taking positions for each and every pair I have applied them to.

Picture above : WSS 9.4 EA in action

Only then I realized that, trade positions are taken at specified market session as per defined in the EA properties; default settings at 7 and ends at 24 and this should cover UK and US sessions, I assumed. I should probably add that each currency pairs have different “optimized” trading sessions according to the EA.

Performance wise, though it is really too early to say anything, I can see that out of 5 currency pairs applied with EA 4 of them showed almost instant gains… at first.I manually close one of the most profitable trade and let the other positions run.

Ok, before I forget, the lot sizing taken by EA is 0.1 by default. As my demo accounts runs on USD50,000 I could see that each of the post taken is of 5.00 lot size.

Back to the 4 of the remaining positions, convinced with the performance of the EA so far, I left them open overnight only to find out that the directions have changed and those profitable trades ( at the moment I left them ) have gone otherwise.

This is where I’m a bit puzzled. According to the market movement, WSS EA trailing stop function should have been triggered and I could have secured at least 20 pips for most of the position I took. But that is not the case.

I wonder whether there are some settings that I had mislook anywhere in the EA config/properties.

Any WSS 9.4 EA user out there? Care to enlightened me up?

Better but far from perfect – Part 2 – Discontinued

Salams… to those who have patiently been waiting for part 2 of the post…

Well, sorry to disappoint you guys, as much as I would like to boast and brag about my techniques and setup, after spending much time on the setup I finally decided to discontinue the talk and the post about them…

The reason? Simply because I have not consistently able to achieve profitable trades.. using the setup and indicators…

Sad but true.. well I don’t blame it totally on them (the setup) rather my inability to adhere to the rules

That said, I would not dare to drag all of you thru the same path I have gone through and decided to go back to the basics…

Yes, the basics; discipline, money management, and most importantly (trading) psychology

Officially I would like to temporarily abandon this effort and develop my discipline.. ( huhu.. I have to admit that I have problems following rules..) and I would like to take some time off from trading to deal with that…

Hey2.. Well… to totally cutoff myself from trading is quite drastic isn’t it? Hehehe I think I gonna cut some slack off and let myself test some EA’s from Winning-Solution

Check out their website http://winning-solution.net

Better but far from perfect – Part 1

Salam guys,

For those of you who have been waiting for updates.. sorry to keep you all waiting. After a while experimenting and again experimenting with my Myswissbank Setup, I think I finally achieve SOME consistency hehehe..

I have been tweaking the indicators setup and there are some changes and improvements made in the setting.

First and foremost, I learn to rely more on the bigger timeframe H4 and MurrayMath lines. That said, the way I read the chart, I prefer to wait until the price action are on the upper section of MurrayMath line [7/8]p to [+2/8]p before I consider to place short position and look out for market price to linger in the lower section [1/8]p to [-2/8]p before I consider a long position.

A cross of the AlaskanPipsModAsassin , JADX direction change and hint from StepMA about the trend change will confirm the entry.

Also I discard the usage of StopReversal signalling indicator and replace it with SHI_SilverTrendSig that works better with my setup.

All right, I think that’s it for now… watch out for part 2 of this post.
I’m gonna throw the updates indicator package, somescreenshots and perhaps some updated rules in the next post.

Till then, happy trading.

Easy Steps To Create Your Own EA

Salamz,

In previous post I mentioned about the Automated Trading Championship by Metaquotes.
If you happens to be interested to take part in the competition but have zero@zilch knowledge on EA coding (yup, that sounds like me), you can happily stroll over to this cool website that will help you to automate the EA script/code generation.

Be warned though that the choice of indiactors are quite limited(you can add customs indicator but results may vary..)

NUff said.. click here to warp to the link

Automated Trading Championship by Metaquotes

Automated Trading Championship by Metaquotes

Salamz,

Good news to all!! Last week I have been approached by Metaquotes representative thru my YM (yes; YM = yahoo Messenger) inviting me to participate in the latest trading competition.

In contrary to common trading competition, this latest competition does not focus on the performance of (human) trader. Instead the championship is determined to find the most profitable Auto Trading system ever existed. The Auto Trade system must be coded in Metaquotes Language in order to be able to participate in the competetion.

Below is some excerpts from the official website created for the competition:

“The main objective of this Championship is to raise the popularity of Automated Trading and MetaQuotes Language 4 (MQL4) programming language. This open Championship will involve a contest of many mechanical trading systems. Anybody will be able to get sufficient proof that “Expert Advisors” can trade and generate profit without human involvement.

The Championship will identify the three strongest developers of mechanical trading systems. The prize pool of the “Automated Trading Championship 2006″ will be divided as follows:

* First place – $40 000
* Second place – $25 000
* Third place – $15 000

The organizers of this event wish to express their sincere thanks to the official sponsors of the “Automated Trading Championship 2006″.

Participation in this Championship is open to all developers. To take part in this event, you will need to register and send in one expert advisor only. The registration period will close on 25th September 2006. A full list of the participants will be compiled after the completion of the registration.”

So what are you waiting for? Register Now!

Looking for something? Part 2

Salamunalaikum and greetings,

Marketiva.

Guys and gals (wink2) and fellow traders,

Related to my previous post; these are the Google Result for Google Answers on Forex subject.

You might find some of them useful to add to your long list of forex resources…

Below is the actual google answer results for query : “forex”

• Google answer : Query keyword: Forex

And these are the selected results that might want to add to your bookmarks:

• Subject: forex charting providers
• Subject: Comprehensive list of forex news and forums

Ok.. don’t meant this to be a long post…so have phun.. trading…

Hello world!

Welcome to WordPress.com. This is your first post. Edit or delete it and start blogging!

Looking for something?

Salamunalaikum and greetings fellow traders…

This should be a quickie session since I haven't got much time to write..

Okay, have you wanted to look for something on the net? say.. forex e-books, holy grails systems, or this awesome indicator you read on one forums.. but don't know where get them (downloaded)??

Well fret not cause we have Google to the rescue…( yeah I'm sure you already know that). But did you know that with some adjustments and tweaking of keywords that you enter in the search field might cause a lot difference and get you to the files with ease?

Yup… it does. For instance if you were looking for forex resources.. try this:
Just type:
"forex site:answers.google.com" without the bracket into the search field and run the search.

You will get results of the search and guess what? It is no ordinary results as it pulls out search request from peoples and that the result (answer to the request) is provided by dedicated google researcher who were paid to answer those search request. Ahhh.. in other words, you get for free what other have paid to get it.

Hmm.. if that is not enough, you can try this keywords to find relevant files that were uploaded and shared somewhere out there in the web.

Most popular services out there for uploading and sharing files currently are provided by Megaupload and Rapidshare.

I bet there are millions of files out there waiting to be discovered. Just run the search by entering these search keyword in google search engine.

Keywords for searching….

video files on MegaUpload…

google: avi|mpg|mpeg|wmv|rmvb site:megaupload.com

music files on MegaUpload…

google: mp3|ogg|wma site:megaupload.com

compressed archives and programs available on MegaUpload…

google: zip|rar|exe site:megaupload.com

Acrobat's pdf ebooks

google: pdf site:megaupload.com

Rapidshare

video files on rapidshare…

google: +inurl:avi|mpg|wmv site:rapidshare.de

compressed archives and programs…

google: +inurl:exe|rar|zip site:rapidshare.de

music files available…

google: +inurl:wma|mp3|ogg site:rapidshare.de

This should show all files available…

google: .* site:rapidshare.de

*Quicknote:

For example, if you want to search forex ebooks in pdf formats (available for you to freely download)…

google: +inurl:pdf|zip|rar site:rapidshare.de forex

And the most important thing is; be creative, know what you want and substitute the keywords with the one that is appropriate and relevant with your search. You will find what you seek..

Happy digging..the web

Charting Insights

Salamunalaikum and greetings guys…

Yesterday I had a chat with a friend of mine, a fellow trader with much more experience than I am. Initially, I intended to get some info about an indicator and would like to ask his opinion about that indicator. Well instead of getting straight answers for the question, he answered me with another series questions.That series of question, led to an interesting discussion and revelation about charting style. The discussion was really an eye opener and enlightenment to myself and thus I would like to share it with others.

The questions ( or answers to my questions as I regard it ) were as follows:

1. What kind of indicator that you use for Support & Resistance?
- e.g – Pivot lines / Fibonacci / Andrew Pitchfork / Bollinger Band etc.

2. What kind of indicator that you use for determining trend / wave
- e.g – ZigZag / Elliot Wave / Moving Averages ( or other trending lines )

2. What kind of indicator that you use for determining entry/exit points?
- e.g – RSI / Stochastic / Signal Systems /

Based on the answers you provided for the above question, check your chart for any conflicting indicators (from the same group).

For example, Andrew Pitchfork and Bollinger Band (from Support & Resistance ) are both serving the same purpose but will provide you with different levels of support/resistance lines and this is not very healthy for trading as you will be easily confused (or rather doubtful) to choose which support/resistance level to follow.

The same goes for the other 2 groups (trend/wave and entry/exit points) . There should be no redundant / overlapping indicators that serves the same purpose; but provide signals that difference from each others ( it is generally good to have indicators that support each other but if you have indicators that conflict each other or don’t seem agree to each other, then his advice is pick the one that you are most comfortable with and discard the other).

Hmm.. and when asked what kind of indicator that he used.. he replied that there is no point of copying what other traders have on their chart.. each traders have their own preferences and one should develop their own preferences.. by doing this, you will find a suitable trading style ( scalper , intraday , swinger etc ) and discover a set of indicators that truly suits your style.

p/s: to that friend of mine.. thanks for the enlightenment.. you know who you are

*updates :

There’s an ariticle by Joe Ross on indicators posted at Akuma’s Blogspot that more or less discusses the same thing. Click here to warp to the article…bzzzz.

Marketiva How To’s – Basic

Well, I am not going to elaborate or explains in length the registration process for Marketiva. Assuming all of you have already registered to Marketiva,downloaded and installed their streamster client and successfully login to the Marketiva server, it is now time to get down and dirty. Let’s go trading !!

The above screen is the Marketiva Streamster Client screen. This is where you execute your trading (not yourself ok !!) online. The above left portion / quadrant , you can see all the available pairs eg: (EUR/USD), (USJ/JPY) etc. and their price(s) updated in (well, almost) realtime.

See the close up screen for that portion:

You will notice that the numbers (and colors) in the above columns will be updated from time to time. I will explain briefly what each and every columns signifies.

Last : 1.1814 – Latest price for that particular currency
Bid : 1.1811 – Current bid price – Price at which broker or dealer are willing to buy
Offer : 1.1814 – Current offer price – Price at which broker or dealer are willing to sell.
Change : -.0004 – Changes / Difference from opening price for that day
High : 1.1839 – Highest price reached for that day
Low : 1.1766 – Lowest price reached for that day
Open : Opening price for the day.

You might see the numbers in the “Change” column changes colors (Red / Green / Black) , accompanied by either -ve or +ve sign.

If it’s Green and accompanied by +ve sign, it means the current/last price for the currency is up several points as indicated from the opening price of the day.

If it’s Red and accompanied by -ve sign, it means the current/last price for the currency is down several points as indicated from the opening price of the day.

If it’s Black and not accompanied by any sign, it means the current/last price for the currency is the same as the opening price of the day.

Ok for that part now let’s buy/sell the currency:

First, select and click at the currency pair you would like to trade with. In this example, you will click at the “EUR/USD” text in the currency column.

A pop up screen will appear for you to make your order.

The chosen currency pair selected

Instrument:
You can choose the selected currency pairs to trade from the list.

Buy/Sell :
Make your choice to buy/sell (a.k.a long/short) the currency.

Quantity :
Quantity will determine how much profit (or loss) will affect you for each point rise/decline in for the pair. Select wisely.

Desk :
Decide which fund you would like to use for trading, either your virtual or live account (money).

Click the OK button when your’e finished to confirm your order.I

You can then view your order / entered post as above in your Streamster client.

Pay attention to your points in each position.
Green colored points indicates you are in profitable situation.
Red colored (and negative “-ve” ) points indicates otherwise.

To take profit from your current post, close your position only when your points shows Green , non negative numbers.

Also, to avoid losing further, you can also close your position at any time.

To close a position just click at the position intended (or position ID).

A box like below will appear. Just click Close and confirm your choice.

Ok I think that should cover the basics, for detailed instruction and help, you can visit Marketiva website for help instruction or get live support directly from their support staff at the support channel.

Happy trading.