Is there such a thing as the Holy Grail of trading?
If you want to know my answer, please read on...
Although it is
impossible to predict the highs and the lows of individual prices, it is possible to
general direction or trend based on price patterns with high probability.
When we go into a trade, we are either right or we are wrong with our orders since the prices can go up or go down.
Given that we have no control of the price
movements especially in the Forex market due to it's sheer size and volatility,
the best course of action we can take is not to anticipate the tops and the
bottoms but to go with the flow.
If we are correct with our "buy the lows and sell
the highs", we
"let our profits run".
Even if we are able to do all of the
above mentioned, a major constraint for traders is the time
required to monitor the market and execute trades.
Hence, the only foolproof way to Plan you Trade and to Trade your Plan is to automate your trading!
Wouldn't it be great if these chores of trading can be automated and not letting our emotion ruin our judgment?
Even if we have a profitable trading strategy for one market, chances are that it will not work all the time and across different currency pairs.
Thus, the 2 main challenges for all traders are:
It takes great effort to produce a good
trading plan because of the need to test it on different market conditions and
over a long period of time.
So, I reckoned that if I want to trade for a living without sacrificing precious time with my family and friends, the only way is to program profitable plans into EAs that will automate the trading processes for me.
After more than a year of research and
development on price actions, I believe I have overcome these 2 challenges for
the Forex markets with the "set and forget" EAs that I have developed.
solution is simple, God is answering."
Appended below are sample results of the seven major currency pairs trading with 3 micro-lots per trade on Standard Account with $10,000 fund from 1 November to 2 December 2009.
The key thing to note of these results
that they are all profitable with the exception of a small loss for USDCHF
giving a ROI of almost 8% per month.
Another interesting point to note is that when I ran the same EA again to trade the losing USDCHF over a longer period of say 2 months from 1 October to 2 December 2009, it ended with a profit instead of a loss.
As can be seen from the recorded video, this EA has
advanced features such as dynamic trailing stops and multiple take profit levels
to capture as many pips as safely as possible from trending and sometime from ranging
Running the same EA on Fxprimus
Given that different brokers have different liquidity suppliers, it is not surprising that the trading results will differ from one another.
For the sake of comparison, I ran the same EA to trade the GBPUSD under the same conditions on the Fxprimus vs. the previous IBFX platform and it still returned a profit albeit a smaller one:
Unlike most other brokers, where the data feeds for the Live and Practice accounts are different which can lead to erroneous expectations, Fxprimus provides the same Live data feeds to both the Live and Practice accounts.
This reinforce the general perception that it is much tougher to trade
with the Live data and hence the reason for a lower profit.
I am totally convinced that it is possible to make good
money consistently with automated trading.
Increasing number of banks and hedge funds are already
investing in and using robots to extend their edge in trading. For an example,
please see the article
Citigroup buys Automated Trading Desk.
Can you afford not to?
The one thing that differentiates this EA from most of the others is its ability to monitor and adjust programmed parameters to try to achieve optimal results from trading.
I am unaware of another universal EA that can adapt
swiftly to changes in market condition and across different currency pairs.
Despite it's effectiveness, this EA is
NOT the Holy Grail of trading because it isn't profitable all the
time and isn't profitable for all currency pairs.
An EA can only be as good as the intentions, knowledge, and wisdom of its trader and programmer.
Great EAs are not for sale. Great EAs are for trading. This is the reason why you need to have your own EA for trading!
Note: It is easy to
impress with screen shots displaying just the fantastic trading profits.
The Holy Grail is in fact, a Trinity:
I like the journey as much as the destination, and I shall savor the challenges, the satisfaction and the joy of collecting more pips along the way.
Albert Einstein's three rules of work:
These rules sum up my approach to Forex trading.
Price Action EA:
I have experimented several approaches to systematic trading since 2009 and the one that I am convinced to work best for me is based on Price Action.
You are welcome to find out the effectiveness of trading with Price Action at Price Action Trading.
I am now a better trader making good use of technology to do the hard work of trading for me.
When you have opened an account at , do if you would like me to work with you to become a smarter Forex trader.
So, is there such a thing as the Holy Grail of trading?
The Marriam-Webster Dictionary defines Holy Grail as "an object or goal that is sought after for its great significance".
Based on this definition, I truly believe there exist Holy Grails not just in trading but also in many other endeavors.
The fact that some traders are making huge profits consistently from the markets supports the existence of the Holy Grails in their trading.
It is well known in the trading community that "Buying on Greed and Selling on Fear" is one of the key reasons of failure in trading.
I know of no better ways to eliminate this Achilles' Heel in trading than to automate our trading process.
Profitable trading is simple but not easy.
It's simple when you have a trading plan:
Yet, many traders are unprofitable because it is easier said than done.
If you are already trading successfully and would like to take advantage of the benefits of automation, I can help you to improve your profitability via automation.
Only then, can a trader hopes to realize and enjoy the benefits from his/her elusive Holy Grail in trading.
p.s. The Holy Bible has no mention of the Holy Grail. It is a mythical legend that is popularized by such books as "The DaVinci Code" and a renewed interest in King Arthur and his knights.
p.p.s. Can this also be a "Holy Grail" of the business of trading?
I think so, and I welcome you to check it out.
"The end of labor is to gain leisure."