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Author Topic: FX Autotrader Elite  (Read 132817 times)

Offline caddyhexe

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Re: FX Autotrader Elite
« Reply #30 on: April 23, 2014, 01:02:57 AM »
Almost hitting the buy button
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 #31 on: April 23, 2014, 01:15:10 AM »
Almost hitting the buy button

... in that case we should try and catch up and celebrate when we spend our biennial 3 months holiday in Europe this summer.

 :)
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Online diyforexskills

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Re: FX Autotrader Elite
« Reply #32 on: April 23, 2014, 08:58:14 AM »
In Reply #26 I wrote:

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 Autotrade


Video 4 in the series explores the features of the Autotrader so I thought I would share that on this Forum.

In these 3 short videos I go through the features of the Autotrader - all the different parameters that you can select to build your strategies.

Trade features
http://www.screencast.com/t/s0GyuOh2hq

Indicator features
http://www.screencast.com/t/paKbuQ6OpYa

Trading rules
http://www.screencast.com/t/AsQ2QmP5j

When you are on Screencast you can also look back at the other videos so far in this series.

Hopefully the workings and purpose of the Autotrader are becoming clearer.

I have also confirmed for myself that you can run backtests with Autotrader using Strategy Tester. Just need to sort out one error message (138) one of the users is experiencing, which may in fact be a platform issue.
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Offline caddyhexe

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Re: FX Autotrader Elite
« Reply #33 on: April 23, 2014, 09:08:03 AM »
Does it use MQLLock?
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 #34 on: April 23, 2014, 09:19:59 AM »
Does it use MQLLock?

No it does not. It has security but in the end we all rely on people's honesty and integrity.
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Offline caddyhexe

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Re: FX Autotrader Elite
« Reply #35 on: April 23, 2014, 06:18:57 PM »
If its not already incorporated what about a partial close and or BE based on an indicator and not just a pip level?
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 AtlantaSean

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Re: FX Autotrader Elite
« Reply #36 on: April 24, 2014, 12:06:21 AM »
Watched your videos, thanks for showing the EA menu. Looks pretty good, seems organized!

It appears that your Autotrader is motivated for medium term trading or trend trading. With RSI and x3 MA. Would you say that is accurate? Is that how you planned to use/advertise it? Like 999cjb advised, don't stray too far from the idea. Would be good to know your base.

If so, I have some suggestions of things to add that you might agree with...
- Create an option for a Friday close. Some people may not want to hold a trade through the gap, even though with trend trading that may not matter so much.

- Instead of fixed broker stops, use broker side hard TP & SL created by the recent range. An adjustable number in the menu based on the ATR. I know it may not seem like a big deal but in some cases I think the stops should be much wider than other times.

- With a trend type system it is important to have a good trailing stop. I recommend a Chandelier stop.

- Did you say this was open bar only? With indicator systems I like the effect of this.

$$ What is the 5th indicator you've chosen?


Online diyforexskills

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Re: FX Autotrader Elite
« Reply #37 on: April 24, 2014, 01:26:47 AM »
Responding to Replies #35 and #36

Thanks for the suggestions and questions. Some good food for thought when deciding on the next upgrade later this year. Interim response:

1. Partial close is currently by pips only. The forthcoming Trade Manager, a companion product, does have a TP function which can be set by ATR as well as by just pips. It can even do partial closes on SL settings, ie when the trade starts to go against you.

2.The Autotrader certainly started out for trending markets with the triple MA ( and did really well in the last quarter of 2013 on the yen pairs which trended beautifully.) But in my view with the functionality it has, we can handle both ranging and trending. Eg the zlMACD strategy for GU this year has been exceptional and yet judging by the 4hr chart I would not call that a trending market?

Also, RSI can be used for ranging markets for some timeframes if you set it to take a Sell when RSI is high and a Buy when it is low. You can do that with Autotrader.

So I feel it is more versatile then just for medium/longterm trading. For instance I am trialling some 1min strategies with some success. I have had less success with 15 min strategies so far.

In my experience to date it is often the judgment about TP and BE levels that are crucial in being successful. Entries can be well defined by the indicators but exits less so especially in ranging markets. And so an indicator based SL and TS as you guys have been suggesting is well worth exploring further. Whether I leave that to the Trade Manager or build it into the Autotrader is a moot question. In the Trade Manager I can have many options for such functions; in the Autotrader the Menu box would start to get very large (like Steve Hopwoods MPTM!)

3. The Autotrader already has a time filter - both for selecting days and two intra-day time periods

4. Not sure what you mean by open bar only? With the Trade Manager you can select SL and TS to be activated at close of candle true/false

5. Indicator #5 will be a two MA cross of RSI (it just seems to provide really good signals)

6. You are right, this tool can never be all things to all people. However in terms of indicators this tool is modular so if a user wants one or two additional specific indicators that they swear by, then I can arrange a quote for that from my coder and the user can have his own personalised version of the Autotrader (additional modules are not expensive).

But maybe that should wait until we come to a decision on providing some more (indicator-based) flexibility on setting SL, TP and BE.

I should point out that I rarely use a fixed SL - I rely on a dynamic exit triggered by the indicators I am using.
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Online diyforexskills

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Re: FX Autotrader Elite
« Reply #38 on: April 24, 2014, 04:50:49 AM »
The exit dilemma

There are (at least) two aspects to trading - when to enter and when to exit. The exit is often the hardest to determine - at least for me.
With FX Autotrader Elite I can set many different ways to exit.
In the example shown I am using zlMACD and RSI to enter and either zlMACD or RSI to exit.
And in this case, and for the past three months as shown in a visual backtest, I would be better off setting the RSI exit condition to False. Then I would still be in the last Sell trade and I would not have taken a 43 pip loss yesterday. As to what the future will bring... will it continue in the Sell direction or will the pair now rise and end me up in a worse loss if I had stayed in the trade and rely solely on the zlMACD exit condition?

PS I have actually done a back test on this strategy with Strategy Tester (every tick) but achieved only 61% modelling quality. With that it took 6 more trades that I can see visually, yielded a profit factor of 1.4, Expected Payoff of 4.6 and a net profit of only $124 whereas visually I counted a profit of about $680. hhhmmm...obviously need better tick data. Interestingly using only control points data gave almost the same results as tick data.
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Offline caddyhexe

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Re: FX Autotrader Elite
« Reply #39 on: April 24, 2014, 11:01:11 PM »
Hi

if I set the time filters will open trades be closed or just managed as per parameters?
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 #40 on: April 25, 2014, 12:30:45 AM »
Hi

if I set the time filters will open trades be closed or just managed as per parameters?

Open trades will continue to be managed; no new trades will be entered as explained in the User Guide.
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Online diyforexskills

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Re: FX Autotrader Elite
« Reply #41 on: April 25, 2014, 07:35:12 AM »
Strategy using RSI as Oversold/Overbought indicator

While you are testing and learning how to use the Autotrader it is
best to use shorter timeframes so that you can quickly see how
things work.

In this video I demonstrate a 1min strategy using RSI as an
overbought/oversold indicator since the exit setting for such a
strategy may not be immediately obvious.

Put simply, for RSI Entry levels settings the entry occurs BETWEEN
the upper and lower levels set; for RSI Exit settings the exit
occurs either ABOVE or BELOW the levels set.

Hopefully the video will make clear as to why that is so.

http://www.screencast.com/t/OHg0sAAcM
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Online diyforexskills

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Re: FX Autotrader Elite
« Reply #42 on: April 26, 2014, 07:56:39 AM »
Keeping on top of your trading

When we start testing and then running lots of strategies with the
Autotrader it can become difficult to keep track of which ones are
performing well and which ones we have modified etc.

In this two part video I demonstrate how users can do that fairly
simply as long as they apply some discipline to their trading regime.

Keeping a record
http://www.screencast.com/t/cVyZbauNbjK1

Tracking Performance
http://www.screencast.com/t/3bRzk2O5zO

In the process I use two instruments - an Excel Workbook (sample
attached) and the analysis provided by means of the free EA, mt4i
Publisher available from www.mt4i.com which comes complete with an
excellent User Manual.

Whether or not people use this method is immaterial but I strongly
urge users of the Autotrader to maintain some form of recording the
strategies they use and their results to help them stay on top of their
trading and become and stay profitable.

To your trading success,
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Online diyforexskills

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Re: FX Autotrader Elite
« Reply #43 on: April 30, 2014, 05:31:53 AM »
Free Trial - no credit card required

The FX Autotrader Elite is very different from the normal EAs in that it is a simple but powerful tool to automate strategies that you can construct involving any combination of RSI, MAs and zerolag MACD and various entry and exit options; rather than a black box EA which you set and forget.

So people need to try the Autotrader and see if it suits their way of trading or the way they might want to trade in the future given the features that this product provides.

And so I am making the Autotrader available for a free 30 day trial to donnaforex members.

Just email me a private message, including your email address, and I will send you the product for testing, complete with User Guide etc and of course a link to the training videos.

The latest is now online and you can view this one, and by doing so have access to all the other ones in the series. Videos 4 Part 1, 2, and 3 take you through the Menu or Dialogue box to show you what the customisable features are.

http://www.screencast.com/t/tk1eLtVAP0rX

So take a look, try it out. You have nothing to lose (apart from a bit of time  :)); and a lot to gain.

To your success.

« Last Edit: April 30, 2014, 08:30:51 AM by diyforexskills »
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Offline energyclub

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Re: FX Autotrader Elite
« Reply #44 on: May 01, 2014, 04:59:44 PM »
We need more vedors like you, excellent support and this just makes it more enjoyable to work with a vendor like this one. Keep up the great work.  :)

 

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