Has anyone put a 4x strategy on the open list where the name of the strategy is not obvious? I don’t see any except for Ed’s.
|
Hello, I setting up for Forex and read I should download ebar long and short forex strat. However I dont see the "long".
Also I have had zero training in forex and looking for any recomended reading regarding indicators. I currently use dynamic cci and ema to open equity trades and a combination of dynamic cci, ema, rsi and macd to exit. Im wondering if the same strategy works with forex
|
nevermind I dont need it
|
I don’t trade forex either. I can’t imagine those indicators being helpful with currencies though. I thought forex was just prices moving in sub-penny amounts.
|
FYI. I have been paper trading Forex for a year now. I have had some pretty good training and I still cannot beat 50% wins. It is a very tough market to trade as it is extremely volatile. My personal recommendation is to stay away from it until you are well trained and can win 70-80% of your trades without an auto trader. Seriously, people much smarter than I lose their entire account in a few days because they did not properly prepare themselves. The statistic I’ve seen several places is that up to 90% of traders lose most of the time. I’m very glad Cool-Trade has the Forex option, but you better know what you are doing. There are some very big boys trading against you and they know all the trading strategies you will likely use, then trade against you with much deeper pockets. Sorry for the lecture.
|
I am now trading forex and was curious why there was only a forex short in ebar. yesterday I caught a youtube video that appeared to indicate that the process of purchasing a currency is the same as shorting since one is buying a currency on margin only to sell. I hope someone more familiar with forex can clarify or confirm that we should only be using forex short.. I will try to find the video and post the link.
|
Here is the link:
|
First, I only created a Long and Short Forex strategy to compare with stock trading and I discovered that trading Forex and trading Stocks is nearly exactly the same. The only differences are that with forex you trade in 10,000 share lots and go for much smaller profits like .005 a share or less, and FXCM allows 200-1 margin.
You are misunderstanding what they are saying in the video.
What they are saying is that when you buy a forex symbol/pair you are actually buying the 1st country in the pair and selling the 2nd pair.
That may be how you can look at it, but in the trading world/automated trader, the symbol/pair is just a single security similar to MSFT or AAPL, and it is bought and sold (long or short) EXACTLY the same as a regular stock symbol.
The forex symbol/pair goes up and down exactly the same as a stock symbol and the automated trader looks at it and trades it the same as a stock symbol.
I just over-wrote my long forex strategy (but I’m not trading forex) but it wasn’t a unique strategy or anything special. I was just treating it like the conservative strategies but with a lot less rules.
Ed
|
Thanks Ed that was really helpful. I totally misunderstood that video and now feel very comfortable trading Forex. There is so much more liquidity in Forex. I’m now on a quest to figure out why so many don’t trade Forex. I understand that one can loose all of your money but with an automated trader that has STOPS in the configuration why would anyone be concerned? Anyhow that question is not necessarily for this group unless someone wants to tackle it. Oh yes I realize that STOPs wont help if trading happens while the auto trader is not running, so my next quest will be to discover the best time to restart the auto trader or whether I should just let it run 24/7. By the way, your strategy is not bad. It made money for me the first time I ran it. I have even Improved it and It profits every day without fail.
|
>>>By the way, your strategy is not bad. It made money for me the first time I ran it. I have even Improved it and It profits every day without fail.
That’s waaaay Cool! I think the stock market and forex is real easy with the robotic trader. I’m amazed that people trust computers in all aspects of their lives but lose faith when it comes to the stock market.
The biggest thing I don’t like about Forex is that you have to trade in 10,000 share lots. I really like to trade stock in 100 share lots, so I can add to my losers (when conditions turn around) and not have to put up $10,000 with every trade. I know they let you have 200-1 margin, but the $10,000 is still $10,000 regardless of whether I am using my money or they are loaning the funds.
I recommend you set your trader to stop at 11:55PM and then set the Windows Task Scheduler to restart the Trader at 12:05AM.
That way you are only down 10 minutes a day.
Also set your trader to trade (open positions, add to positions, close positions), ON TAB1, from 12:05AM to 11:55PM.
Good luck!
Ed
|
This a request to Guest:
If your are using an enhanced version of ebar, could you please tell us what modifications you have made to enable you to make money everyday? I am very curious and would like to copy successful people. Thanks,
|
Hi.
All I want to do is to link up with anyone who likes to trade the currency market (FX)! I specifically need to create a strategy that works with CTP (which appears to be designed for the stock market) so that i can trade FX.
Anyone trading the FX market from the UK?
Regards,
Alex. alex@alexcrabtree.com
|
Partnertrader24
Get in touch I would like to find out more about the strategy your working on.
Email me at RYates6690@aol.com
|
Partnertrader 24 wrote: By the way, your strategy is not bad. It made money for me the first time I ran it. I have even Improved it and It profits every day without fail.
Hi Partnertrader 24. I have been trading FOREX for a couple of years now and am looking for a strategy for CTP that works well. As you say your strategy is profits every day without fail, would you be willing to share your strategy with the rest of simple folks? I looked for your name in the Copy Strategy option of the CTP software, but did not see it there. Can you post it there so we can take a look and who knows we may be able to work together with you to make it even better. I do work with multiple FOREX Trading professionals and am part of a Forex Trading system myself.
Thanks
saleembhamji@me.com
|
Cannot find where to get ebar long strat (or any Forex strategies). Is there anyone that can point me in the right direction?
Started creating one, but it is still incomplete
Many thanks for your help
~Paul
pdent@hotmail.com
|
Ignore previous message...found what I was looking for.
Just curious if there’s any way to filter for Forex strategies only?
Thanks,
Paul
|
Pdent,
At this time there is not a way to filter just Forex Strategies but I would suggest going to the below Strategy Wizard Request section and post this as a request as this would be a good function for forex users.
|
This is the Forex Strategy Discussion thread. It’s just a matter of Forex traders coming on and sharing their strategies.
Though I think stock and forex strategies work the same, only the forex goals are for much smaller price moves.
|
Thanksfor the responses!
Will request Forex Strategy filtering
Just an FYI - true...stock and Forex strategies are similar, however, some indicators/parameters that work for stocks are pretty much useless in Forex (i.e. all Volume indicators, asForex is not a cetralized market..volume is difficult to accurately measure
Will get this Forex thing figured out! 
|
I have a strategy running on demo that seems to be working pretty well. Please feel free to copy and test. Please be aware that I’ve only set this up about 10 days ago...so not a lot of history. It’s the long strategy only. Profits on this seem strange if you check out -
www(dot)babypips(dot)com/school/what-is-the-most-profitable-indicator.html
The indicator used actually had the worst performance when used as intended. I’m using it in a different way that seems to be working well.
If interested, take a look, try it out and let me know what you think. If you happen to come up with improvements, let me know.
Thanks
Paul
pdent@hotmail.com
|
Just an update -
- I REALLY need to complete setup of this strategy. Getting hammered this morning (6 of 8 trades showing a loss)...good thing it is still in Demo Mode. I’ll see if it turns around, but I really need to setup stoploss and an ’opposite’ short strategy to capitalize on price reversals. I believe that will be a vast improvement.
Should have an updated strategy sometime today
Cheers
Paul
|
Thanks for the update. I want to see the changes that you made.
I wish more people would update on how their strategies are doing and what changes they find they need to make.
|
carolnetzer...
...if you get a chance to test the strategy, let me know your results. It would be a great help in making adjustments.
Many thanks,
Paul
|
I gave up on Cool-Trade Forex because it loads many equities into the blocklist. Then when I want to trade equities I have to remove them one by one. I want to take a stab at forex again. Does anyone know how to keep forex from loading up the blocklist?
|
Do you mean it is loading all of the stock symbols that are not-forex into the blocked list? If so, it has to do that because forex only works with FXCM and FXCM cannot trade stock equities.
Ed
|
I think I figured out how to trade forex with allowing block list to load equities: I manually loaded all 22 forex pairs in my portfolio and only trade symbols within portfolio, checking of all 3 portfolio options. Ill have to wait untill tommorow to verify as FXCM doesnt appear to be data feeding. let me know if there is any problem with this configuration.
|
Above I meant to say "I figured out how to trade forex (WITHOUT) allowing block list to load
|
What do you mean by "checking of all 3 portfolio options"?
Also, is your fxcm account a U.S. account or a U.K. account?
Ed
|
it is a US account.
the 3 options:
add my portfolio
add my smbols
use my portfolio/symbols only
|
I understand the 3 options now.
The thing to check on tab2 is to ensure that you only have Forex checked at the top. Amex, Nasdaq, and Nyse need to be unchecked. Then only forex symbols will load.
Ed
|
Yes, I only have Forex checked and nothing else. Interestingly I found that the blocklist filled with equities after all. however i noticed that only the equitie symbols that I traded earlier today filled the blocklist.
I have just tried another combination (of the 3 portfolio options): choosing option 1 and 3 (add my portfolio and use my portfolio only). That appears to fix the blocklist but the watchlist wont populate the trader so it wont trade: I must be doing something wrong as I have traded forex with cool-trade in the past.
|
UPDATE:
test3
i left all portfolio options blank, now every symbol that ever existed on earth has filled the block list. this is representive of what i have experience forex trading in the past and cause me to cease forex. please let me know what im doing wrong if any. bottom line is I want to trade forex when the equity market closes but dont want to remove symbols to trade. let me know if it is required. thanks
|
If you left all of the portfolio options blank then the sofwtare is loading all symbols that meet your conditions. So, if it is loading stock equities like MSFT, AAPL, etc then you need to change the EXCHANGE selection on the top right of TAB2 to select only Forex stocks. AMEX, NYSE, and NASDAQ need to be unchecked.
You cannot trade stocks and forex in the same account. If you are trading stocks all day and have open positions and then the market closes and you change the strategy to select only Forex stocks then the non-forex stocks will go to the blocked list to get them out of the automated trader. The software was not designed for that feature.
Ed
|
OK I have a better understanding of what is happening although im not sure why its happening to me as I close every equity position everyday after 4pm and reset the accounts to zero. Then I start up the forex config. I really wish it were possible for you to see my screen to experience what I go thru trying to transition to forex. There are other problems too. currently no automated trader forex watchlist loads even thou the strategy shows 22 pairs in the watchlist. therefore nothing trades. the other thing I notice is when I copy your strat to my computer the configuration changes. for example sometimes forex is check by default. other times forex is not but nyse is checked. Perhaps its because I use the lastest dev version that I appear to have more trouble than anyone else. one thing im thankful for: when I began removing the symbols from the block list it appears that there is a limit to how many it will load. thank God I thought I was going from a to z but turned out to be only about a hundred symbols starting with the letter A. anyhow I wish other traders who have forex success would chime into the conversation. I dont see much activity in the forex section. However Im convinced that If I am to achieive my multi-million dollar goal within the next 2 years it will most likely be in forex due leveraging. to me no other platform makes trading more clearer than Cool-Trade. If I had the money I would try to buy your company - it is (a diamond in the rough).
|
Can you add "edbar1@cool-trade.com" to your friends list in the strategy wizard and tell me which strategy you are using for forex?
I will need Long or Short and the strategy name or the number of the strategy (1-5) in the list. I’ll copy it to my strategy list and then see what happens when I switch a strategy from US to Forex.
Thanks,
Ed
|
You are added as Freind. unfortunately the 2 differing default configs were written over so youll need to wait until the event happens again. yesterday was the first time I had seen the config change after copy so Ill keep checking in the future and let you know. I just copied your forex shorts to two different locations and they are the same (no problem). tonite I will test a few modifications of your forex to see which one cooperates by:
1)not loading the blocklist,
2)loading the autotrader watchlist
3)and the trades.
do you use your "forex short" or is this one an untested example?
Did you know of others trading forex with Cool-Trade?
I looked at the "shared" Cool-Trade setups and no one except you had the word "forex" in a title
Thanks again for your help
|
I ran your forex short last night but when I open the wizard this morning I discovered that the forex check box had been automatically switched (overnite) to nyse. unfortunately I restarted forex this morning before realizing the nyse condition and the blocklist loaded what seemed to be about a hundered equitie symbols. So now at least we know why the blocklist gets loaded. note that the blocklist didnt load up during last nites trading but only when I restarted this morning.
|
FXCM made a code change.
You need to install this API to log into FXCM with CoolTrade:
|
Hi,
I just now created a now FXCM login account and have been trying to login to that account through CT but so far couldn’t. I even downloaded the recent patch given in this board. I can login to FXCM demo account separately but not through CT.
Can somebody help me out to overcome this.
I really appreciate your help.
Thanks
Anoma
|
Hi
I just wanted to mention the error message that I am getting as well. It says
"Program terminated. Unsuccessful FXCM Login"
After I run CT and select that I want to go to FXCM simulation mode, I get the logon screen but even before putting my user name and pw, I get the above error message.
Hope this helps you to better understand my issue.
Thanks
Anoma
|
Make sure you can run the FXCM Trading Station software.
If you cannot log into the FXCM Trading Station then you cannot run CoolTrade.
The only reason it is saying that it failed before you clicked Login is because the software was attempting logins while you were typing. When entering your FXCM username/password, first click the CANCEL button, enter teh username/password, click the CANCEL button again, and then click LOGIN. Then it will login with the complete username/password.
Try these steps:
1. Run this: <a href="
|
If you copied and pasted the username into the username field, you will see a blank space at the end of the username field. if you remove that space, the login will work.
I just tried it WITHOUT THE SPACE and it logged in fine.
CT
|
Thank you very much for your help Enlightened & CT. I was able to login to FXCM demo account. Your hints were really useful.
Thanks again.
Anoma
|
hello
i need some help to get CT running with FXCM.
i have opened a demo account with fxcm.
i have read to comments in this thread but it didnt work for me.
i am able to login with the trader software provided by fxcm.
i have installed the API : fxorder2go.exe
when trying to login to fxcm with CT in simulation mode... i do click cancel ..then enter ID and password...then click cancel again...then click connect... but i receive an failure:
"Connection to Broker failed"
any advice?
thank you for your help.
Wal
|
Please copy the above post into email and send it to Support@CoolTraderPro.com and include your phone number.
Then a tech will call you and get it working.
Thanks,
CT
|
Hi All,
I am running FXCM demo mode now and would like to know whether I need to keep FXCM workstation open or can I close it. Also, when login to FXCM data feed it takes more than 5 minutues. Is it the case with everybody or else it is something to do with my computer.
Appreciate your feedback
Thanks
Anoma
|
You do not need to have the FXCM workstation running.
My data feed is fast. It doesn’t take 5 minutes to load, since there are only a few forex symbol pairs.
Jerry
|
Thanks Jerry. Appreciate your feedback.
Anoma
|
We just got our software and are trying to find instructions on how to use it to trade Forex? If someone could provide the steps needed, we would be grateful :)
Thanks very much!
Nancy Lacasse
Forex Trader
|
Hi Nancy,
Trading Forex is he same as stocks with the CoolTrade system.
There are only a few differences.
First, you need to have a FOREX UK account. You can get a free one from Here:
|
where are the instructions to do this? configure cool trade to forex?
|
where are the instructions to do this? configure cool trade to forex?
|
Hello my name is James. Im a experienced forex trader. would love to meet here, more FX traders so we can grow this part of the cool trader community.<img src=’’images/smilies/Grey/cc-smilie17.gif’’ border=’’0’’>
|
At last! finally found someone who understand currency trading!! Marvellous!
My name is Alex Crabtree, and I live in the UK. I have quite a bit of experience trading the FX market, albeit only on a demo account. I have been struggling with the correct settings in order to make my program work (CTP).
Would it be convenient/appropriate to ask for your email address so that I can send you screenshots of my settings/parameters etc. for your critique and help? Failing that, here is my email if you would like to contact me first: alex@alexcrabtree.com
I am working with a Support person by the name of Patrick and we are currently trying to get things working properly. He is not a trader himself, but is also anxious to fully understand the currency side as well as the stock market side.
I look forward to your response.
Cheers,
Alex.
|
I also just joined and am interested in Forex Strategies.
I’d like to be able to email any of you to share ideas.
My email is RYates6690@aol.com
Get in touch so we can start a group and possibly develop something.
Russ
|
Hello,
Great to see a number of folks interested in trading forex.
I have been trading forex for a few years now, and have been using, amongst other platforms, FXCM. While the FXCM standard platform is very easy to use for placing forex trades, I have not tried to run EAs through their standard platform. They offer FXCM MT4 for running EAs. They also offer a VPS service.
From reading several posts in this forex area, it seems there are some difficulties setting up the CTP to run on FXCM. Are you installing CTP on FXCM standard platform or their MT4 platform? Or through the VPS?
I have yet to attempt the forex installation, and any advicxe would be greatly appreciated. My email address is samperic@hotmail.com.
Cheers,
Sam.
|
Hi, my name is Joseph, and I too like to trade Forex pairs. Perhaps once we attract a couple dozen more of us, we could see if James would set up a live webinar where he can teach us how to utilize CoolTrade for Forex trading. I’ve known James for a year, and he is excellent, we just need to get enough in here so he isn’t repeating himself because he does have a day job, like most of us. If you know someone in CTP, encourage them to check in here.
|
Hi, my name is Joseph, and I too like to trade Forex pairs. Perhaps once we attract a couple dozen more of us, we could see if James would set up a live webinar where he can teach us how to utilize CoolTrade for Forex trading. I’ve known James for a year, and he is excellent, we just need to get enough in here so he isn’t repeating himself because he does have a day job, like most of us. If you know someone in CTP, encourage them to check in here.
|
Anyone interested in Forex leave your email address so we can all get in touch with one another and brain storm a strategy to get something going here.
Russ Yates
RYates6690@aol.com
|
Hi fellow CTP members.
My name is Paul and I’ve recently purchased CoolTrade Pro. I too would like to start out using the software on a forex account. I’ve been trading a little over 2 years and I’m starting to see some success in manual trading on a live account. This would be a tremendous help as I’m not a full-time trader and don’t have the necessary time to get really serious with forex trading full-time. I have yet to actually setup the software (time issues!!) and actually prefer to complete setup of the software and transfer the forex trading system to a VPS to minimize software/connection problems. I hope to have that completed within the next week or two.
Glad to meet you all and hope this section becomes as successful and active as the stock section
Best wishes...
Paul
|
Please include me in email updates as well...
pdent@hotmail.com
Many thanks!
|
Please include me in email updates as well...
pdent@hotmail.com
Many thanks!
|
Hi Fellow Forex Traders:
We are a husband and wife trading team and we trade Forex Full Time for over 5 years now. We have a trading club that we founded, where we all manual trade live together, online, at certain times of the day. You are most welcome to join us. You can go to our website for more information: www.teamtradersclub.com
We also have CTP and have met with James, while in Las Vegas for a Trainer Event with the Corporate office. Thank you James for initiating this thread!
Several of us Forex Traders had submitted suggestions, via James, to the Corporate Office to make some updates and changes to the software so that it is more "forex friendly" before we can use to to automate our forex strategies. This is being worked on and we have no word yet, on when it will be completed.
In the meantime, we use CTP to trade the stock market for us while we continue to manual trade the forex market. It works beautifully and we are experiencing great results by just "setting it and forgetting it", with one of the preprogrammed strategies.
We look forward to having you join us online at any time or feel free to contact us if we can help in any way possible.
Norm & Nancy Lacasse
Founders, Team Traders Club
nlacasse@rogers.com
|
HI sorry havnt attended this area for a while. is there a way for the forum to send a email to me when a message is put in this area? In the meantime Im just scalping 20 pips at the moment and getting good consistent results. see link
|
renshiforex you mentioned a link but I didn’t see it. I would like to discuss your pip scalping strategy. Please email me at chet@ctraderpro.com. Thanks!
|
renshiforex you mentioned a link but I didn’t see it. I would like to discuss your pip scalping strategy. Please email me at chet@ctraderpro.com. Thanks!
|
for some reason the boards are automatically removing complete links.
I’m going to list a bunch of ways to put the link, and we can use any that show up.
google dot com
google . com
google.com
|
Hello I have been advised there are problems with the forex part of CTP from the techs. they are working on the list of fixes at the moment.
|
I’ve been running forex for months without problems.
What problems are you having?
What is broken that they are planning to fix?
Hedge
|
James Weegen (renshi),
Cool-Trade and CoolTraderPro Support are here to help.
FXCM is the broker of choice. Are you speaking of FOREX generally, or specifically with FXCM as your broker using Cool-Trade?
Andy
CoolTraderPro Support and Operations
|
I am new here as well and would like to trade Forex. I have traded manually, but never with a robot (successfully) email me at dansutton@msn.com
|
I am new here as well and would like to trade Forex. I have traded manually, but never with a robot (successfully) email me at dansutton@msn.com
|
I am new here as well and would like to trade Forex. I have traded manually, but never with a robot (successfully) email me at dansutton@msn.com
|
I am new here as well and would like to trade Forex. I have traded manually, but never with a robot (successfully) email me at dansutton@msn.com
|
I am new here as well and would like to trade Forex. I have traded manually, but never with a robot (successfully) email me at dansutton@msn.com
|
I can trade FX from my TD Ameritrade Acct, does anyone know if CT can be used to trade FX through TD login, or is the FXCM acct required?
|
hi I am looking for others who have developed some winning strategies in the forex market. my email is dansutton@msn.com
|
Just had my first day of all successful positions. $155 today on 10k lots. You know where to find me Dan
|
Hi Phil,
I was looking at your Forex Long Scalp strategy and have one question for you at this time. Can you explain the rule you have "Intraday RSI (5, 14, 0 ) is greater than 70 Dollars" ? I don’t understand how a content value of 70 dollars interacts with RSI and how "70 Dollars" can interact with the 10 different pairs on your watch list when they all trade at different prices.
Thanks,
Saleem Bhamji
|
Just ignore the dollar part. 70 is the value. Dollar is just put in because that is what is included in the value part of the indicator. If the RSI cross the 70 line, it still see’s the indicator as true, so it triggers.
|
Just ignore the dollar part. 70 is the value. Dollar is just put in because that is what is included in the value part of the indicator. If the RSI cross the 70 line, it still see’s the indicator as true, so it triggers.
|
Anyone has winning strategy that is willing to share?
|
If I run forex strategy would I need a fxcm account setup?
|
Ranjit,
In order to get the data for Forex pairs, you would need to sign up for an FXCM practice account at their website. It does not cost anything and does not require any type of deposit. Just sign up for the account, save the login information they give you, install FXOrder2Go, choose FXCM from the broker list on the sign in window and you are now trading Forex.
You also want to make sure you have a strategy that is made for forex as stock strategies and stock trading is a whole different game.
|
Does anyone know where to find forex (fxcm) strategies that folks have been using so as to be able to set them up in a demo account and see how they do?
Thanks
Russ
|
Message to:
ranjitpowell
myharvestamerica
guest
I read your post. could you give me a brief call? 602 507 9681
I have Qs:
1. Can CTP trade FX?
2. Can CTP trade Index? or what kind of index can use CTP trade?
3. How are you doing with your CTP?
BTW: My group has 9 CTPs and now 6 in service real money and 3 using as simulations. I have a professional hobby to develop strategies.
Cheers,
Lily Harvey
|
I would like to hear from someone who is satisfied with trades they have completed with the Robtic Trader email address shirlane.willis@gmail.com
|
This thread was closed pre-maturely on 04-SEPT so I’m restating it to get input. Here is the original post:
I have a strategy that uses the Simple Moving Average (SMA) indicator for the last 200 days. Here’s my Open Position rule:
Today’s Current Price is Greater Than or Equal to 200-Day SMA.
There is another part of this rule, which has already been satisfied, and the rules are set to "ALL of these conditions must be met..."
On 9/3 I picked up 2 news positions based on this rule that I don’t understand. Both show the same pattern. One of the intraday charts is at https://dl.dropboxusercontent.com/u/20209297/SMA%28200%29%20Chart.png. I’ve indicated on this image where I purchased.
This rule picked up 2 positions today that make no sense. When you look at Yahoo! Finance or other intraday charts and plot SMA(200), you’ll see that this value changes throughout the day. I expected it to be constant throughout the day. Therefore I’m concluding that CT’s definition of SMA(200) does not match what IB or Yahoo! thinks.
Have you seen behavior like this before? What am I missing?
Nick
(Austin, TX)
|
Nick,
The best solution is to click on RULES at the top fo the automated trader and see what values ct sees for the indicators in your rules.
Enlightened
|
Hello,
As many have wondered, CoolTrade does in fact trade Forex via FXCM. I have provided instructions on how to connect CoolTrade to FXCM in order to receive the correct data feed for currency pairs.
With that said, I have been working diligently for the better part of 6 months on creating suitable strategies for the purpose of trading with CoolTrade. After speaking with so many former and current Forex traders, adjusting strategies with technical indicators to fit certain specifications and suggestions, learning about the Forex market and what the associated risks are, it has come full circle to simply mimic the DOW strategy mentality.
For those not familiar with the default DOW strategies, the concept is fairly simple. You get into the trade, no matter where that stock might be, and simply add additional shares on a certain value drop. For example, if I buy a stock at $20, and my strategy is set to add another X amount of shares to a losing position, if that loss is greater than 5%, which would be 0.05*20 = $1. When the price drops from the entry price by $1, those X shares are added to that symbol at a lower price. We simply dollar cost average on the way down, or "manage your losers".
With this mentality in mind, I created a strategy a little over 4 months ago to mimic. The results were wonderful at the beginning, but unrealized profits eventually caught up and overshadowed true realized profits, causing the account value to fall.
Many months followed with simulation after simulation, and nothing worked. It really helped me realize the truth to "Technical indicators don’t work". So, back to the drawing board.
I have created 5 long and 5 short strategies based on account value, much like the DOW strategies. The key was the drops. My old strategies would add on somewhere between 30-50pips, yes I know, too frequent. This caused the unrealized profits to far exceed the realized profits. The new strategies are 100 and 200 pip drops, depending on the account value. The rest is fairly simple:
Watchlist: Correlated pairs. Amount is based on account value.
Lot Size: 10k lots for everything but the $100k strategy, which is 20k lots.
Max Shares: 10 positions (100,000 on 10k and 200,000 on 20k)
Open Position Rules: None
Add to Current Position Rules: None
Declining Preferences: 100pips (200pips for $100k)
Profit Goal: 30pips
Pullback: 5pips
No Profit Protection
No Stop Loss
No Trailing Stop Loss
No Reentry pullback
These are all based on a 20:1 margin, if you would like 50:1, that is fine, but due to the associated risk, I have left this out of the strategies and based them off a much smaller margin value.
I encourage anyone who is interested in trading Forex with CoolTrade to try these strategies. Let them run for at least a month, then feel free to give your input on this board.
I want everyone to enjoy every aspect of CoolTrade, including Forex. The point of CoolTrade is to not let the markets take advantage of us. With these types of strategies, they will work, even in a Forex market. The key is patience and not to expect your monthly income to come from this.
Additional information is provided below, including where you can get these strategies, and how to copy them.
Have a great day, and happy trading!
CHANGE TO FOREX
1. Install FXOrder2Go. This should be located on your desktop. If you are unable to locate it on your desktop theny ou can find it by running a search.
2. Sign up for an FXCM practice account at
|
DOWNLOAD A NEW STRATEGY
1. Open the strategy wizard.
2. Click on any of the options buttons next to the strategies.
3. Click Copy Strategy
4. Click on the box at the top of this new window, it should contain your email.
5. Find the email address of the user you want to copy from by. This can be done 1 of 3 ways:
a. Type in the first 3 letters of the persons email address. This has to be done quickly as it will reset after 1 second of rest.
b. Hit the up or down arrows on your keyboard and go through all of the profiles.
c. Click the down and up arrows on the right side of the box.
6. Once you have found the email of the user you want to copy from, click the strategy you want to copy.
7. Choose a strategy at the bottom of the screen under “Copy Destination” to overwrite.
8. Click “Copy Strategy” when done.
Note: Only one strategy can be copied at a time while the Copy Strategy window is open.
|
I apologize for the missing content. The forum tends to parse out all URL’s for safety reasons.
You can find these strategies under TECH8@COOLTRADERPRO.COM.
|
Is it possible (or does it make sense) to trade the stock market during the day and then switch Cooltrade to trade Forex at night so you can be in the market running your computer 24 hours?
|
No, that won’t work. For one, the open stock positions and account balances will be mixed with the forex symbols and both require two different brokers so the trader will be all mixed up and close the positions that don’t work in each account.
That would require two separate software subscriptions.
Jerry
|
I would think when I log in I could choose the Forex Boker and it would presumably load those positions rather than the stock positions. I know when I load the stock live IB account the holdings are different than than when I load the simulation mode of cooltrade.
|
Hi, I’m having difficulties in the set up to trade forex with CT. I signed up for an FXCM demo account and it seems to work with CT and logs in with no apparent issue but when the trader opens up none of the currencies show up in the watchlist despite there being 11 in the strategy wizard watchlist. I did open and install the FXOrder2Go file and it looked like it downloaded something but Im not sure if thats all I need to do or do I need to run something alongside CT?
Also, where do I set the 20:1 margin? I cant seem find where this is adjustable in the preferences menu.
|
On Tab2 of the Strategy Wizard you need to select FOREX and ALL SECTORS.
if the trader runs with a Forex stategy then it will give you the option to change the market to 20-1.
If the default strategy is set to run with amex, nasdaq, or nyse then the margin will be set to 2-1.
|
Thanks. I got a hold of technical support at cooltrade and the problem I was having was that I needed to download the latest CT version 7.5.35 as I was running 7.5.55...who would’ve thought 7.5.35 is more recent than 7.5.55?
Regardless it now works.
|
Thanks. I got a hold of technical support at cooltrade and the problem I was having was that I needed to download the latest CT version 7.5.35 as I was running 7.5.55...who would’ve thought 7.5.35 is more recent than 7.5.55?
Regardless it now works.
|
I am new to CT. My first impression is that the system is powerful! I am concerned in viewing the Fourm by the number of people still looking, configuring and testing for a optomial trade system.
In my expereince using robots (like CT) for the Forex market is that they work well in some market some of the time but over time the "drawdown" eventually exceeds the winning positions.
jimdye1@gmail.com
|
Jim, Welcome!
I don’t trade forex so I cannot comment on those strategies. However, in my stock trading I trade in 100 share lots and only add on 10% drops and I make sure I have enough funds in the account to by 1000 shares in case the stock was to go down that far, even though it is most unlikely. By adding on 10% drops I hae taken all the risk out of the market and just keep accumulating profits with the trades that it makes forever.
Since you are new to CT I suggest you do start in simulator mode for a while and get comfortable with all that the software can do, before trading in a live account. If you have patience you will see that the market is begging to give you money. The key is to wait until the market gives you the money and not panic and keep selling at a loss when the market goes the wrong way. It’s how you handle the losers that will decide if you are profitable or not. The profitable trades will just keep adding up on their own. I’ve been using CT for years and I’ve learned that patience is the most important thing.
Hedge
|
Hi Hedge, I purchased CT mid October and went live with IB 11/25/2013.
Have enjoyed my experience with it to date.
Curious, how many licenses do you have with CT?
And do you manually add positions and sell during trading hours?
Joe (Florida)
|
Thank you for sharing your experience.
When I viewed the my first presentation the presenter showed the screen to allow us to compare what our stock would do if we bought 100 shares and held it against allowing Cool Trade to make trades. Can anyone tell me were to find the strategy?
|
Any of the default DOW 30 strategies will do that.
The only difference is that the version on the website has a lot more drawdown risk because it adds to positions on 1.00 drops.
Whereas the default DOW 30 strategies provided in the software only add on 7% to 10% drops.
So, if you are trading in 100 share lots and you add on 10% drops, even if the stock dropped to the bottom you would only have 1000 shares.
|
Hi, My name is Francine ... I have traded the Stock and FX markets for over 10 years using a variety of different techniques. I have been trading stocks with CoolTrade for almost 2 months now and loving it. I’m looking to connect with other CTP traders that have traded the FX market. Looking forward to hearing from fellow FX’ers ...
Francine
|
Francine,
I am in the FX learning program - the ultimate one in our time, so will know how helpful to me soon. My goal is to use the knowledge to improve my strategies in both CTP robots and 4X-DAT robots that I have. (4X-DAT only trades currencies can not customize strategy yet but I believe it will be, so I put in the efforts now)
The beauty of no need of learning curve through pick and download is great!
CTP has this ability, so is 4X-DAT.
Nevertheless, each has alive webinars privately by robots owners.
If you need more info, call me at 602 507 9681
Lily
|
Is it possible to hedge the currency pairs?
CAD/USD & USD/CAD or does this not make sense?
I tried to add these to the watch list and it would not find the CAD/USD pair.
|
Hi...
Just saw your post today.
FYI - There is no CAD/USD pair listing, only USD/CAD.
If you wanted to hedge (which by the way is no longer allowed on U.S. broker accounts), you would just open a simultaneous BUY and SELL order of the USD/CAD pair.
An alternative way would be arbitrage -
(1) BUY - USD/CAD
(2) SELL - EUR/CAD
(3) BUY - EUR/USD
In first trade, you are buying USD and selling CAD
In second trade, you buying the CAD (hedge of CAD sell in trade 1)
In third trade, you are selling the USD (hedge of USD buy in trade 1)
BE ADVISED!, some U.S. brokers may look at this as an attempt to circumvent the no hedging rule and I’ve heard (but not verified) they may not release profits made on these types of trades.
There are still a few brokers outside of the U.S. that will open accounts for U.S.-based traders and allow hedging and more relaxed trade rules (i.e. better than 50:1 leverage). Many brokers (outside of U.S.) don’t want to comply with U.S. restrictions/regulations and have stopped opening accounts based in the U.S.
Hope this clears up a few things and hasn’t confused the issue more!
Paul
|
Hi...
Just saw your post today.
FYI - There is no CAD/USD pair listing, only USD/CAD.
If you wanted to hedge (which by the way is no longer allowed on U.S. broker accounts), you would just open a simultaneous BUY and SELL order of the USD/CAD pair.
An alternative way would be arbitrage -
(1) BUY - USD/CAD
(2) SELL - EUR/CAD
(3) BUY - EUR/USD
In first trade, you are buying USD and selling CAD
In second trade, you buying the CAD (hedge of CAD sell in trade 1)
In third trade, you are selling the USD (hedge of USD buy in trade 1)
BE ADVISED!, some U.S. brokers may look at this as an attempt to circumvent the no hedging rule and I’ve heard (but not verified) they may not release profits made on these types of trades.
There are still a few brokers outside of the U.S. that will open accounts for U.S.-based traders and allow hedging and more relaxed trade rules (i.e. better than 50:1 leverage). Many brokers (outside of U.S.) don’t want to comply with U.S. restrictions/regulations and have stopped opening accounts based in the U.S.
Hope this clears up a few things and hasn’t confused the issue more!
Paul
|
Thanks Paul. I didnt realize US brokers frowned upon this. I am a Canadian resident but use FXCM thru the U.S. so I’m assuming the same rules apply.
|
How would I set this up using Cooltrader?
Do i just enter all three pairs and let the program trade?
|
How would I set this up using Cooltrader?
Do i just enter all three pairs and let the program trade?
|
Wouldnt I just be able to go long in one trade and short in the other?
|
Most U.S. brokers will not allow holding both a Sell & Buy order on the same currency pair. That is why traders use multiple pairs to get around this restriction (possibly!)
You can however have two pending orders that will trigger a Sell or Buy, but if one is triggered, it must be closed before a trade in the opposite direction is taken.
|
Setting up a hedging group must be done manually..at least I haven’t found any methods of setting this up automatically. If would also be of great benefit to check each pair for trend direction/strength to maximize your chances and opportunities for profit.
|
Instead of actually shorting a long symbol like SSO, just go long the reciprical symbol SDS which goes up when SSO goes down. That way you can run the strategy in a IRA account. It also allows you to be long both symbols at the same time so it isn’t necessary to always wait for one to close before opening the other one.
Enlightened
|
Great advice...you are in essence going long on an inverse correlated stock symbol.
Nice!
Hadn’t thought about that in a while (since I’ve been looking mainly at Forex trading)
A similar strategy could possibly be used for Forex as well.
If you are looking to trade (or in this case hedge) a specific currency pair however, Forex brokers in the U.S. make it a bit more difficult (in most cases impossible). Just my personal opinion, but I believe legislation was created for the Forex market by individuals who did not truly understand all of the implications and/or long term effects it would have on individual Forex traders.
I would also recommend the previous advice as trying to hedge Forex can be a real challenge while trading a correlated Forex pair has none of these disadvantages.
|
Thanks guys. I like the idea of inverse correlated stocks but they are hard to find in my price range of less than $20/stock. Any recommendations? How would you even begin to search for these?
|
I don’t do it but someone showed me they were trading UCO and it’s inverse SCO.
As he explained it, he only buys whichever one of those is up in the morning and he keeps adding to the winning position everytime the position goes up .25.
At the end of the day he closes the entire position (everything he owns).
He said it never reverses in the middle of the day. So if he buys UCO then he stays with UCO for the whole day.
According to him he has only had one losing day (about $20) in months, while he takes $200 to $400 a day in profits.
I guess it can’t hurt to try it in simulator mode.
Enlightened
|
Interesting strategy...I was going to just buy both and add on drops. With one being the inverse you will almost always have a winner everyday. It’s hard to do with my $15k account size and those being $30 symbols. I looked to try to find other inverse stocks within my price range but didn’t know where to start. Any idea is there is a magic list of inverse pairs out there??
|
I found this comprehensive list of ETF pairs on Google:
www.pairslog.com/pairsList.php?catId=217
Enlightened
|
You would need to find your own stock to trade in this case, but this site will show you how correlated your stock choices are -
|
Does LIFO need to be set up anywhere with FXCM or is this how it always works?
|
Actually...FXCM in compliance with government regulations requires FIFO trading. As I understand it, any broker that offers fixed lot sizes (standard full, mini, microlots) must comply with this way of trading. 
If you can somehow manage to get a U.K.-based FXCM account, I believe the LIFO rules may still apply and you may not need to set anything up.
|
Tweaking my Forex strategy and I was wondering what the price baseline used for forex was? For example in stocks the price is based on the previous days close price to tell whether the current price is up or down.
Since the forex markets trade 24hrs a day what is price move based from?
|
As soon as the date changes at midnight eastern standard time.
Enlightened
|
So, I just got started into CTP; never had the opportunity to trade in FOREX trhough CTP. But I was told FOREX trading is no longer allowed in CTP.
Does anyone have any thought regarding this change? Was it not much to write home about to begin with or was this a tremendous let down?
|
Ct is trying to focus on stocks and the login screen was getting out of control.
If you put the cursor on the password field on the login screen and click ctrl-P the forex login will show up along with all of the other international exchanges that you can trade.
|
Sweet!
Does that mean one can set up to trade in FXCM using CTP? Where do you recommend for locating a strategy for FOREX trading?<img src=’’images/smilies/Grey/cc-smilie17.gif’’ border=’’0’’>
|
I tried with the ctrl+P, but no avail. It doesn’t come up for me. I first downloaded the CTP with what appeared to be an older version and it still has the FXCM log in. But after an upgrade, it is not an option anymore.
|
If you are running with the latest DEVELOPER version, and put the cursor in the password field, click CTRL-F. Then the other login options will appear.
Hedge
|
Thanks. I see the FXCM log in prompt does come up; but when I select simulation, CTP just goes away...like I just cancelled the log in or something. I am just dying to know, can we still trade in FXCM through CTP?
|
Greetings
I saw a momentum strategy video on the
|
When I select Forex checkbox and remove all rules (or even add yesterday close >0), I cannot locate any "symbols" to trade Forex. Any ideas on how to start testing/simulating Forex currency pairs?
It would be nice to download a strategy that has a Forex watchlist built in, but I don’t see any downloadable Forex strategies (When I click on Options in NSW)
Any help/guidance would be much appreciated
|
