B
Brother Mike
Guest
Now, who would pay 500.00 for a program that auto trades for you, when no auto trading program has ever worked out of the thousands made? (Raises hand)
Ok, it seemed like a good idea at the time, lets take a look.
View attachment 7236
As you can see, setting this up and simulating back trading just 3 days, I would have take in 783.60. The trading system is simple. The bot just makes a trade when one of those red arrows shows up on a Range 8 chart using Gecko Software Bulls and Bears plugin. (900.00)
Now this is a full demo account, using 3 trades at a time, with 5,000 fake starting money on the EUR/USD.
Is Bot trading the wave of the future for traders? Not really, but if this works with real time trading, I will use this very simple system with real money and see what it does.
Most bot trading software look at past years and simulates those trades, adjust itself to make the most money and best trades through the years with back tested data. Many so called bot trading programs do just this, and provide us with tones of great trading results like I have shown you here.
The problem is, that history in the markets don't mean a blessed thing. Playing with Auto Pilot in the past, I have set it to trade 100% accurate over 2 years, but set it on real market prices, and it suddenly trades in real time at about 30% accurate. Bot's can't do what humans do yet, and that is adapt to real market situations.
Bot's do have a promise though. They always execute your trade with you not watching. That removes the emotion of getting out of the Market to early, or staying in when you should have gotten out long ago. Forex can make you money, but most do not make money as they lack the discipline to stick with whatever trading plan they come up with.
Just manually trading the simple arrows though, you can see you can make money, which is the good news. Even without charting software, your right 1/3 of the time anyway, just flip a coin. Heads you go long, tails you go short, and limit your losses, let your winners run.
It gets more technical than this with bots, as most bots show winning results with massive draw down. Draw down is the amount of time the bot stays in the trade loosing money before the market turns around. In my example, the most draw down I had was 16 pips, which is pretty awesome.
The forex market has a big draw on people, because you can trade for free, with free charting software, and to open a real account, some brokers will let you start off with a mini account for less than 100.00. You may not pay the bills with it, but using real money helps you learn to control those emotions, while you get better at it.
Enough for now. There are tons of ways to make money, for a Holy Spirit led believer, there is no reason to stay broke. Most successful traders are not making millions, but they are paying their bills, and having extra. Not only that, but they work when they want.
Mike.
Ok, it seemed like a good idea at the time, lets take a look.
View attachment 7236
As you can see, setting this up and simulating back trading just 3 days, I would have take in 783.60. The trading system is simple. The bot just makes a trade when one of those red arrows shows up on a Range 8 chart using Gecko Software Bulls and Bears plugin. (900.00)
Now this is a full demo account, using 3 trades at a time, with 5,000 fake starting money on the EUR/USD.
Is Bot trading the wave of the future for traders? Not really, but if this works with real time trading, I will use this very simple system with real money and see what it does.
Most bot trading software look at past years and simulates those trades, adjust itself to make the most money and best trades through the years with back tested data. Many so called bot trading programs do just this, and provide us with tones of great trading results like I have shown you here.
The problem is, that history in the markets don't mean a blessed thing. Playing with Auto Pilot in the past, I have set it to trade 100% accurate over 2 years, but set it on real market prices, and it suddenly trades in real time at about 30% accurate. Bot's can't do what humans do yet, and that is adapt to real market situations.
Bot's do have a promise though. They always execute your trade with you not watching. That removes the emotion of getting out of the Market to early, or staying in when you should have gotten out long ago. Forex can make you money, but most do not make money as they lack the discipline to stick with whatever trading plan they come up with.
Just manually trading the simple arrows though, you can see you can make money, which is the good news. Even without charting software, your right 1/3 of the time anyway, just flip a coin. Heads you go long, tails you go short, and limit your losses, let your winners run.
It gets more technical than this with bots, as most bots show winning results with massive draw down. Draw down is the amount of time the bot stays in the trade loosing money before the market turns around. In my example, the most draw down I had was 16 pips, which is pretty awesome.
The forex market has a big draw on people, because you can trade for free, with free charting software, and to open a real account, some brokers will let you start off with a mini account for less than 100.00. You may not pay the bills with it, but using real money helps you learn to control those emotions, while you get better at it.
Enough for now. There are tons of ways to make money, for a Holy Spirit led believer, there is no reason to stay broke. Most successful traders are not making millions, but they are paying their bills, and having extra. Not only that, but they work when they want.
Mike.