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Author Topic: FX Autotrader Elite  (Read 126815 times)

Offline AtlantaSean

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Re: FX Autotrader Elite
« Reply #15 on: April 20, 2014, 02:06:07 AM »

I have started the Thread.

Many people think back tests are worthless. I just don't understand how you attempt to develop an automated system without referring to some sort of back test as a basis for historical draw down, profit, and other expectations. Shouldn't that be where you start?

It seems as though you have an EA for sale that has no long term back test results on any one strategy and no proven Live myfxbook account results showing any profit. I find it a hard sell for an EA lacking these qualities.

However, you have advertised that this is not a Black Box but somewhat of a tool to create your own personalized EA. I find this very interesting because at a price of $197 I could not find a good & qualified programmer to code the demands I have for my programs. Custom programming to the masses for wholesale prices sounds very appealing to me! But I wonder will you be open to coding more custom options in your EA as well?

My first thoughts being:
- Ability to use a reliable Auto GMT and use a Manual GMT when back testing

- Implementation of optional News Filter (Very important, it must be able to be back tested!!!)

- Option to scale into trades either by averaging while in negative or on a pullback while in profit

- Option to scale out of trades, also FIFO option

- No fixed targets. ATR based SL & TP targets and/or Support/Resistance based stops

- No fixed trailing. Chandelier exit based on highest high of ATR and/or Channel exit based on lowest price in last nPeriod and/or use a fixed % of ATR based TP

- Having orders open or close on open bar only, and having broker side stops that you can set. Like x2 distance, etc

- Different MM options besides Fixed Lots and % Equity. Something based on trade history


I will respond to your new thread and share what indicators I like
http://www.donnaforex.com/forum/index.php?topic=12580.msg307408;topicseen#new
« Last Edit: April 20, 2014, 05:41:16 AM by AtlantaSean »

Offline 999cjb

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Re: FX Autotrader Elite
« Reply #16 on: April 20, 2014, 07:34:42 AM »

I have started the Thread.

Many people think back tests are worthless. I just don't understand how you attempt to develop an automated system without referring to some sort of back test as a basis for historical draw down, profit, and other expectations. Shouldn't that be where you start?

It seems as though you have an EA for sale that has no long term back test results on any one strategy and no proven Live myfxbook account results showing any profit. I find it a hard sell for an EA lacking these qualities.

However, you have advertised that this is not a Black Box but somewhat of a tool to create your own personalized EA. I find this very interesting because at a price of $197 I could not find a good & qualified programmer to code the demands I have for my programs. Custom programming to the masses for wholesale prices sounds very appealing to me! But I wonder will you be open to coding more custom options in your EA as well?

My first thoughts being:
- Ability to use a reliable Auto GMT and use a Manual GMT when back testing

- Implementation of optional News Filter (Very important, it must be able to be back tested!!!)

- Option to scale into trades either by averaging while in negative or on a pullback while in profit

- Option to scale out of trades, also FIFO option

- No fixed targets. ATR based SL & TP targets and/or Support/Resistance based stops

- No fixed trailing. Chandelier exit based on highest high of ATR and/or Channel exit based on lowest price in last nPeriod and/or use a fixed % of ATR based TP

- Having orders open or close on open bar only, and having broker side stops that you can set. Like x2 distance, etc

- Different MM options besides Fixed Lots and % Equity. Something based on trade history


I will respond to your new thread and share what indicators I like
http://www.donnaforex.com/forum/index.php?topic=12580.msg307408;topicseen#new

A word to the wise from someone who has been programming for more than 50 years  8)

No, you won't get a good and qualified programmer for $197 but there are plenty of bad and unqualified programmers out there who will gladly take your $197 and either run or hold out their hand for more.

The idea of this "do it yourself" EA is neither new nor bad. But there is danger.

When a number of customers buy this EA they will start to try and tailor it to their requirements because that is how it is advertised. From a trickle to a flood the change requests will come in, each one trying to pull away from the original concept. There are more styles of EA than you can shake a stick at and some ideas for EAs are going to be so far away from the original that the vendor needs to be very firm in rejecting at least 90% of these or the program will soon become unmanageable and will fail.

But if the vendor refuses what to the customer seems a very simple request "taking just 5 minutes to code" (yeah, right) the complaints will be heard.

"You advertised [Your Settings, Your Strategies] on your website. But it won't run my strategy with my settings. Fix it or I want a refund!" and similar arguments will fill the vendor's inbox.

Well, there is a 60 day guarantee from the vendor and Clickbank usually make sure this is honoured so for those wanting to experiment with their own ideas for the perfect EA this might be worth a shot.

But in my experience, the vast majority of traders want a pre-packaged solution that they can just load and run then watch the money come in. That seems like a very simple request as well, doesn't it. But it isn't  ;)

Offline pay888

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Re: FX Autotrader Elite
« Reply #17 on: April 20, 2014, 08:06:19 AM »
 :-*
« Last Edit: April 20, 2014, 09:08:17 AM by pay888 »

Online diyforexskills

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Re: FX Autotrader Elite
« Reply #18 on: April 20, 2014, 09:14:29 AM »
Today i have installed and  started to do the history back testing on my demo account.
But the test cannot get the results. look like the ea's back test cannt been run .
i dont know what s the matter.
I have sent email to  fx autotrader elite , wait the reply.

Hi
Just back from a family easter lunch. Two emails are on their way to you.

For wider interest, here are my views on the MT4 Strategy Tester.

I never use the MT4 Strategy Tester for backtests or optimisation any more becausee i find that the results are totally misleading. There are inherent flaws in the Tester as many others will also attest.

I therefore back test and optimise only by visual inspection of the charts, scrolling back over several months, with the indicators that I am using for any particular strategy and on that basis deciding what suitable/optimal TP and BE settings should be. You can't do that with blackbox EAs because you usually have no idea what indicators they are using. But with Autotrader you do, because you have set it yourself by using indicators that you have loaded onto the charts.

I also believe it is pointless to backtest over more than a few months (unless you are trading on Daily or weekly) because markets continually change, and so the latest results are to me the more important. I especially look for times when the indicators based strategy seems to perform worst (based on my visual inspection of the chart) and try to optimise my settings for those periods.

Having said that, there is a problem with using the Autotrader on Strategy Tester and my programmer is looking into it. I will get back to you on that when he has solved the issue.

And..

The best "backtest" in my books is a forward test on demo; and the best way to optimise a strategy is to run several copies of the strategy each with slightly different settings for TP, BE, partial close etc forward on demo at the same time. After say 3 or 4 weeks, choose the best one to go forward with on live account, or if results are variable then go forward on live with say three of them each with one third of the normal lot size setting you would use if you were trading just the one setting.

These are but my views. We will each have our own. And that is why I belive in using DIY (do-it-yourself) forex skills.

The Autotrader is but a tool, with what I belive are an interesting and effective set of parameters which can be customised by the user - how you use its functionality, and how profitable you become when using it, is up to you. There are no magic puddings, no guaranteed results - after all this is about trading forex.
Information and product page - http://www.diyforexskills.com/forex-tools/

Live trading accounts
https://www.fxblue.com/users/sydap2003axilive (FXAE Bollinger Band EAs)
https://www.fxblue.com/users/sydapaxilivepro (Magic Wand Trading) Not trading with this at the moment.




Offline 999cjb

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Re: FX Autotrader Elite
« Reply #19 on: April 20, 2014, 10:00:35 AM »
For wider interest, here are my views on the MT4 Strategy Tester.

I never use the MT4 Strategy Tester for backtests or optimisation any more becausee i find that the results are totally misleading. There are inherent flaws in the Tester as many others will also attest.

I therefore back test and optimise only by visual inspection of the charts, scrolling back over several months, with the indicators that I am using for any particular strategy and on that basis deciding what suitable/optimal TP and BE settings should be. You can't do that with blackbox EAs because you usually have no idea what indicators they are using. But with Autotrader you do, because you have set it yourself by using indicators that you have loaded onto the charts.

I also believe it is pointless to backtest over more than a few months (unless you are trading on Daily or weekly) because markets continually change, and so the latest results are to me the more important. I especially look for times when the indicators based strategy seems to perform worst (based on my visual inspection of the chart) and try to optimise my settings for those periods.

Having said that, there is a problem with using the Autotrader on Strategy Tester and my programmer is looking into it. I will get back to you on that when he has solved the issue.

Although earlier MT4 backtesters were buggy and troublesome, the latest versions are much better. The real problem is the quality of the data. The old adage "garbage in, garbage out" still rules. Frankly, the backtest data supplied by brokers is generally untrustworthy. That is why we use only 99.9% tick data for our final backtests. Time consuming but worthwhile.

With your EA in particular, I would have thought that backtests were absolutely vital so your customers can quickly test modifications to the settings you provide. This is the only way in which these settings can be proved profitable in your EA before your 30 day refund guarantee expires.

So I hope you are successful in being able to provide these facilities.

Online diyforexskills

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Re: FX Autotrader Elite
« Reply #20 on: April 20, 2014, 10:27:16 AM »
"Although earlier MT4 backtesters were buggy and troublesome, the latest versions are much better. The real problem is the quality of the data. The old adage "garbage in, garbage out" still rules. Frankly, the backtest data supplied by brokers is generally untrustworthy. That is why we use only 99.9% tick data for our final backtests. Time consuming but worthwhile.

With your EA in particular, I would have thought that backtests were absolutely vital so your customers can quickly test modifications to the settings you provide. This is the only way in which these settings can be proved profitable in your EA before your 30 day refund guarantee expires.

So I hope you are successful in being able to provide these facilities."

Thanks. Yes good tick data is absolutely essential.

I don't know how to get my message across. In the future I may not provide any settings with the product. Because what I am selling is a tool, NOT a strategy!

The strategy i include is only for illustration purposes. I don't expect that the illustrative settings i provide will necesarily be profitable as time marches on. If I did, I would have hard coded those settings into the Autotrader and sold it as a blackbox EA for $47. And yes then the backtesting would be crucial.
999cjb wrote:

But Autotrader is a tool, so that the results that one gets when using it will depend on how the user uses it and for what purpose.

You can sell someone a powerful router and in the hands of some, a beautiful piece of crafted wood will be produced. In the hands of others (like me!), it will be a total disaster.

Purchasers have 60, not 30 days to try out this tool. But it is the tool they need to try out; not one particular strategy setting that has been profitable so far over 3 weeks but will no doubt require adjustment as the months progress.

The user must stay in control and on top of what is happening in the markets. A robot cannot do that. A human must do that and he/she must tell the robot what to do and how to do it and when to stop and start. And when to "service" the robot for each particular task that it has been set.
Information and product page - http://www.diyforexskills.com/forex-tools/

Live trading accounts
https://www.fxblue.com/users/sydap2003axilive (FXAE Bollinger Band EAs)
https://www.fxblue.com/users/sydapaxilivepro (Magic Wand Trading) Not trading with this at the moment.




Online diyforexskills

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Re: FX Autotrader Elite
« Reply #21 on: April 20, 2014, 12:13:16 PM »
In my previous post (Reply #20), I wrote:

"But Autotrader is a tool, so that the results that one gets when using it will depend on how the user uses it and for what purpose.

You can sell someone a powerful router and in the hands of some, a beautiful piece of crafted wood will be produced. In the hands of others (like me!), it will be a total disaster.

Purchasers have 60, not 30 days to try out this tool. But it is the tool they need to try out; not one particular strategy setting that has been profitable so far over 3 weeks but will no doubt require adjustment as the months progress."

So what do I mean by saying that it is the tool, not the strategy, that purchasers of Autotrader need to try and test?

My suggestion if you are considering buying the Autotrader is as follows:

1. Analyse some charts (several time frames) of currency pairs that you would like to trade with any one or any combination of RSI, MAs, zerolagMACD (available from http://codebase.mql4.com/716 ) and MA of RSI.

2. Place one or more of these indicators on the chart, adjust the settings of the indicator until they provide some good entry and perhaps exit points, then scroll back over time and see how they stack up going back for some time. Make adjustments if necesary until the indicator settings appear optimal over an extended period. See what TP and BE  and partial close settings would be most profitable over your test period.

This should not take you more than 15 min per chart; and would be an exercise you would do say weekly to design new strategies on an ongoing basis for forward testing; and to adjust existing live strategies as market conditions change.

3. If you cannot or do not want to do this as part of your trading regime, then don't even consider buying the Autotrader. The product is not for you.

4. If on the other hand  you are able to do this, and would be willing to do so as part of your trading regime, then buy the Autotrader and test it out for 60 days.

5. What you should then test is the functionality of the Autotrader. Not any one particular strategy.

In other words, eg

a. Test the trading rule functions - make sure that when you select "Change Entry Rule from AND to OR, True/false" that when set to  "False" , Conditions 1 AND 2 have to be met for trade to be entered; whereas when set to "True", only Condition 1 OR Condition 2 has to be met. And see what difference that can make. Same for Exit rules.

b. Test that when you set  Allow Hedging to "True", and the Autotrader is set correctly, it will indeed enable you to have both a Buy and a Sell open at the same time (provided your broker allows it).

c. Test that when you set Reverse Entry to "True", it does indeed turn a Buy into a Sell for the conditions you have set. And vice versa. Can be useful at times when used correctly.

d. Test that you can have any one of the indicators set to "True" or "False" for entries and "True or "False" for exits. And see what various of those combinations can do for designing your strategies.

e. Test to see that the Time Filter works - select days of week or times of day that the strategy should not be traded. Eg No trading on Fridays and only trade Asian session or whatever.

f. Test the Re-entry trade function - see how and when a trade can be re-entered when you are using at least two indicators and you exit on one or the other and that one or the other then reverses back. Eg with the triple MA setup, a trade is entered when fast crosses slow, is closed when fast crosses back over medium and is then re-entered when fast re-crosses medium in original direction. Same logic applies to use with RSI and zlMACD used in combination.

etc

6. It is the functions you need to test to convince yourself whether or not  this tool does what it was designed to do. And whether or not you would find that useful. The User Guide will help you with that as will my new video series.

7. What you then do with the tool, the strategies you design and implement on an ongoing basis, is up to you and your insights/imagination.

I am continually thinking of new ideas and running new experiments with Autotrader and finding successful strategies. Each of them may not last for years or even many months but I am monitoring and adjusting them and replacing some with new ones on an ongoing basis.

For my part I find it both a profitable and an enjoyable way of trading.

I do the interesting analytical work roughly once a week, generally weekends; the Autotrader does all boring mechanical work exactly as I tell it to, day in day out. Goodbye computer; hello world, I'm up and around again; I even have time to play tennis and do all those other things that make life enjoyable.

That is why I created FX Autotrader Elite.

A piece of software can never be an Expert Advisor. A human can. An "EA" can only ever be a willing assistant - its master is either some unknown person who had an idea and hard coded it; or it can be you. Because you have your own forexskills and you want to use them.

To your success.

Information and product page - http://www.diyforexskills.com/forex-tools/

Live trading accounts
https://www.fxblue.com/users/sydap2003axilive (FXAE Bollinger Band EAs)
https://www.fxblue.com/users/sydapaxilivepro (Magic Wand Trading) Not trading with this at the moment.




Offline AtlantaSean

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Re: FX Autotrader Elite
« Reply #22 on: April 20, 2014, 05:25:21 PM »
A word to the wise from someone who has been programming for more than 50 years  8)

Are you available for hire? :P

Offline 999cjb

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Re: FX Autotrader Elite
« Reply #23 on: April 20, 2014, 06:02:26 PM »
A word to the wise from someone who has been programming for more than 50 years  8)

Are you available for hire? :P

Too busy. Sorry. :D

Online diyforexskills

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Re: FX Autotrader Elite
« Reply #24 on: April 21, 2014, 02:00:13 AM »
Following on from Post #10, here is a second strategy that is worth trying. Do it manaully or run it automatically on FX Autotrader Elite.

GBPUSD H1
zerolagMACD 40,60, 9, levels +0.0005 and -0.0005
RSI period 30
Enter Buy when zlmacd histogram is above 0.0005 and RSI is between 40 and 70. Exit on reverse as dynamic SL or when RSI is > 70
Enter Sell when zlmacd histogram is below -0.0005 and RSI is between 60 and 30. Exit on reverse as dynamic SL or when RSI is < 30
TP 100, 80% partial close at 60, BE at 30

On the basis of a visual backtest on the chart from 1 January 2014 to 20 April, this strategy performed as follows.

10 Buy trades (+$420) and 9 Sell trades (+$300) trading 0.1 lot on a $5K account (approx 1% risk)

% winning trades (including five BEs) was 95% (18 wins, one loss of 60 pips).

And the beauty of the visual backtest as opposed to strategy tester back test, is that I have seen how this currency pair behaves over this period. I don't want to be at the computer all day staring at charts, but it can be instructive to see how currencies move from time to time - the patterns they establish. And it is also good to know the BEs and the fact that in a couple of cases I could have let it run and made over 300 to 400 pips on some nice trends. Overall, I think a 100 pip TP level is a fair compromise on a 1 hr chart.

And it took me only 10 minutes to do this visual backtest - quicker than with strategy tester using tick data. And much more reliable.
Information and product page - http://www.diyforexskills.com/forex-tools/

Live trading accounts
https://www.fxblue.com/users/sydap2003axilive (FXAE Bollinger Band EAs)
https://www.fxblue.com/users/sydapaxilivepro (Magic Wand Trading) Not trading with this at the moment.




Online diyforexskills

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Re: FX Autotrader Elite
« Reply #25 on: April 21, 2014, 04:08:35 AM »
In Reply #15 Atlanta Sean wrote
"Many people think back tests are worthless. I just don't understand how you attempt to develop an automated system without referring to some sort of back test as a basis for historical draw down, profit, and other expectations. Shouldn't that be where you start?"

The answer is Yes and No.

Yes because in developing the strategy that I develop in the first place, before I place it on autopilot, I in fact do a backtest. I develop the strategy based on scrolling back over time with the indicators of my choice - that is the back test. If I can't find any settings that work when i scroll back over time, i would never place it on autopilot, I would never try to trade it.

The No answer is this. Having in essence done the backtest to develop the strategy, the best way to now further test it is forward testing, either on demo at normal lot size, or better still on live account using microlots. Do that for several weeks and even if it does turn into a losing strategy, you won't have lost much trading microlots and at least you know the result is meaningful under real life tading conditions, not artificial and unreliable strategy tester results.

Of course if it is profitable, then go ahead and trade that strategy on normal, responsible lot size.
Information and product page - http://www.diyforexskills.com/forex-tools/

Live trading accounts
https://www.fxblue.com/users/sydap2003axilive (FXAE Bollinger Band EAs)
https://www.fxblue.com/users/sydapaxilivepro (Magic Wand Trading) Not trading with this at the moment.




Online diyforexskills

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Re: FX Autotrader Elite
« Reply #26 on: April 22, 2014, 06:32:37 AM »
Just wanted to share a simple example of backtesting that i do before going forward with a new strategy.

I came upon this one by chance, but it looked really good, so I thought why not?

You can watch the 5min video here
http://www.screencast.com/t/jd0c5TlPz

For owners of FX Autotrader Elite this new strategy forr USDCAD H4 chart has the following settings that you would need to enter on the Autotrader.

zlMACD 12, 24, 9. True for both Entry and Exit
All other indicators to False
Initial Entry Lot size of 0.1 per $5K balance for an approx 1 to 2% risk per trade
TP 100
BE 35
Partial Close 80% at 60
And of course a Magic Number of your choice
Re-entry lot size set to 0

As always, this is not advice. For educational purposes only etc etc You know the drum

So nothing fancy, nothing convoluted -  Just the good old MACD (zerolag version) and a simple visual backtest to confirm. What could be simpler? And with the Autotrader you can even run it on auto. And when conditions change in the market for this currency pair, either modify the settings or look for a new strategy that you can run with the Autotrader using the same or one or more of the other indicators upon which the Autotrader is built.

Purchase a copy at http://www.fxautotraderelite.com/ and try it out risk free for 60 days.

You will receive a short training video or two every several days to help you on your way with using the Autotrader.
Information and product page - http://www.diyforexskills.com/forex-tools/

Live trading accounts
https://www.fxblue.com/users/sydap2003axilive (FXAE Bollinger Band EAs)
https://www.fxblue.com/users/sydapaxilivepro (Magic Wand Trading) Not trading with this at the moment.




Offline caddyhexe

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Re: FX Autotrader Elite
« Reply #27 on: April 22, 2014, 11:01:18 AM »
I like the sound of this...

there has been much posted about the lack of Backtesting, I would however like to hear from a user just telling me that it sets orders and closes them as determined by the parameters.

My only problem is the ONLY TRADE on close/open of bar (although the suggestion from Atlanta Sean and having broker side stops that you can set. Like x2 distance, etc is helpful) an ON/OFF switch would be nice perhaps.

I also like the vendors willingness to incorporate other indicators.
The Euro - what was thought of as a ship sailing its members to sunny climes is now the chain that binds them together as the ship sinks

It is not harmful for your eyes to look on the bright side of life

Offline caddyhexe

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Re: FX Autotrader Elite
« Reply #28 on: April 23, 2014, 12:35:28 AM »
A question...

can I decide, for example on Moving Average, if the indicator value is calculated on the open price, for example, instead of the standard closing price calculation?

I mean if the strategy uses say the 10 and 20 MA, the 10 is calculated using the open price of a bar and the 20 uses the close price.
The Euro - what was thought of as a ship sailing its members to sunny climes is now the chain that binds them together as the ship sinks

It is not harmful for your eyes to look on the bright side of life

Online diyforexskills

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Re: FX Autotrader Elite
« Reply #29 on: April 23, 2014, 12:47:00 AM »
A question...

can I decide, for example on Moving Average, if the indicator value is calculated on the open price, for example, instead of the standard closing price calculation?

I mean if the strategy uses say the 10 and 20 MA, the 10 is calculated using the open price of a bar and the 20 uses the close price.

Yes, all the attributes you see can select on the properties tab of the indicators (MA, RSI, zlMACD) can be set in the Autotrader. I often use smoothed MAs on the medium and slow MAs, and simple on the fast MA of the triple MA setup for example.
Information and product page - http://www.diyforexskills.com/forex-tools/

Live trading accounts
https://www.fxblue.com/users/sydap2003axilive (FXAE Bollinger Band EAs)
https://www.fxblue.com/users/sydapaxilivepro (Magic Wand Trading) Not trading with this at the moment.




 

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