Here is a quick update posted to the twitter feed that includes the myfxbook screenshot for the months trading results.
Trades are all closed and trades initially started on the 6th of Jan. I am posting this update on Friday the 22 of January.
This was technically 10 trades (Groups) The results are +2566 pips
Questions? Use the support link.
Basic Service Continues To Profit Despite Issues With Some Automated Systems
I recently fired up the machines after a long holiday and thus far not a single losing trade on the basic automated systems. The first trade was on the 13th (There have only been three trades) and we are at 137 pips thus far (All trades are closed now). It’s early in the year yet so as a point of reference we had fewer than 10 losing trades combined for all of last year (Yes, the whole year) I should point out for those coming later to this article was published originally on the 21st.
Trading is much lighter than normal because as some of you may know our automated systems have an issue due to some updates with our trading platform. This issue is also delaying the release on our Automated trader (No longer available) that were up for sale on our Smart Trader website (http://www.smartvsa.com)
As always if you have any questions please use the support link on our website.
I know it’s been quiet on the news front lately. Trade selection has continued to improve for all accounts. We had some wonky ones this week based on news but that’s to be expected from time to time.
As some of you know, I am working on some new documents for exit guidelines that will help those that use Smart and follow along with it. Some of it has been published to our other document site but for those that haven’t seen it, parts will be included and updated here.
I am also working on the automated systems for the advanced trade alerts.
The systems is working very well and should help with trade selection during the hours I am asleep or unable to watch personally. There will be a risk document outlined for this system as we get closer to implementing it. These are test trades utilizing the automated systems employed for our other subscription options but applied to group trades.
You can follow along with myfxbook verified close alerts for all automated group trades at Twitter: Account @TraderelayerGRP
As always if you have any questions please use the support link on our website.
There have been some questions regarding the basic alerts vs the advanced alerts. Advanced is generally group/basket trades in addition to the basic and standard alerts. While the results have been excellent in testing, the post launch results have not. I think this is mainly due to the news and lack of Smart signals (I take) during my normal trading hours but there are additional differences that are affecting things a bit too. The main being that I normally trade 2-3 baskets at a time. This had two main benefits. One being that if we had a losing basket, it was typically dwarfed by the winning ones (A basket of baskets essentially). The other being an enormous amount of pips in a short amount of time. The downside post launch is that this type of trading requires simultaneously opening up to 21-30 pairs or more depending on the groups. This is fine for my personal trading but many users cannot handle this type of activity.
Pairing the trades down combined with the lack of proper setups the results have been weak. Even just doing one group trade we could easily see hundred of pips profit in a short time but the trade setups haven’t been materializing either so I have had to resort to doing nothing or selecting MHTC trades (See twitter updates) It’s been very frustrating given I know what the results should be.
In contrast the basic system which is an automated version of my exact trading methods/systems has done very well (Not a single losing trade this year). Basic is limited to the majors only and does not include a copier and while it is also suffering from a lack of setups due to the extreme volatility from the news, basic is automated and able to trade 24/7. This is where it shines. These systems can watch, filter, and trade large numbers of instruments 24/7.
For the time being I have decided to move these systems to advanced but in addition to the majors I’ll be running it on some of the more volatile pairs as well (18 or so in total if you remember from the chat rooms). This is exactly what I am doing already however it will be able to trade 24/7. I will compile a list of pairs for advanced within the client area so you can filter them out as you wish. I will also include the group trading tools as a download and some suggestions if you can handle the large amount of trades and want to handle group/basket trades manually. Trade guidelines and risk document in the client should still be consulted (especially the notes regarding volatility)
The Basic system will remain unchanged.
I will continue to look for advanced group trades for the remainder of this month and do them when found but these changes (effective this evening) should help tremendously if we continue to see a lack of proper setups.
I will be doing maintenance for a short while if no trades on the next bar (occurs in 1 hour and will last for 4 hours). It shouldn’t take too long to complete but the heartbeats will cease. Don’t be alarmed. I’ll post a message through the news system when everything is live. I will leave some of the most volatile pairs off for this evening so you have time to setup filters on your side.
As things calm down a bit news wise I’ll add systems back and adjust as needed but these changes should kick start everything quite nicely starting this evening.
One more note in regards to the copiers. Thanks to one clients feedback I am looking into another copier since we have had some issues with our current copier provider. Many of you are getting everything okay but some of you aren’t and it’s very difficult to diagnosis as a result. Some trades aren’t sent and some alerts too. Both systems are maintained by one provider so perhaps some issues with the code base. I am investigating alternatives.
As always if you have any questions please open a ticket using the support link on the website (do not post to the groups)
The advanced trade alerts have been very slow as you are aware. Normally I would expect one or two group trades per four hour bar. This past month I have not gotten a single signal that didn’t come with a warning. The CHF/ECB fiasco and resulting volatility is to blame as we are getting multiple wrb warnings and location warnings etc on nearly every signal. I have been attempting to do MHTC trades in lieu of solid Smart Volume based trades but the CHF pairs and the increased volatility have hampered these as well. Considering the market conditions we’re not doing too bad and the basic trades (much less than normal too) have helped keep things positive. Things should improve greatly as the ECB/CHF clears out. Please read and follow the trade guidelines as well. If you have any questions let me know.
One other note: I am still getting a lot of feedback from clients with alert issues and copier issues. I can’t help you if I don’t know so if you are missing trades (Use the feeds to check) or have any questions at all submit a ticket.
Connectivity is restored.
There are internet outages in my area. This should not affect trading however until it is restored ticket replies will be delayed. They are saying connectivity should be restored by 10 pm tonight.
Edit: It’s 8:30 PM currently.
This has been a very strange week. While it does happen from time to time, there were no trades on basic. This, as it turns out was a good indicator of what’s been happening (as always). For those that don’t know, basic uses Smart Volume Analysis methods of mine and places trades 24/7. If a trade exists it takes it, if it doesn’t, no trades. It’s very simple and very accurate too. However… If there are no trades, there’s usually a good reason. In an effort to “put some numbers on the board” I was anxious to get things rolling even though nothing was right volume wise. I took some MHTC type trades on standard and advanced that weren’t great. As you likely know there have been some pretty extreme moves on many pairs due to the CHF/ECB news. The Group/Basket trade I took got off to a very slow start and I ended up closing with only a very small profit instead of what could have been a 250+ trade as one client pointed out had I stayed with it just one or two more bars. I do have to sleep though.
Standard which I think causes the most confusion with clients had some MHTC trades this week as well which are trades taken that don’t necessarily conform to Smart Volume Analysis signals or techniques. These are generally riskier and also longer term trades. For this reason combined with the news I had the standard turned off for much of this week. However there was an issue where a personal trade not meant to be sent through, was. If you noticed the heart beat is off and has been, this is because the EA is not running. It shouldn’t send trades but apparently, at least for one client, it did. I am investigating this with the copier developers.
I am going to be making some changes this weekend with the help of some clients so that everything is more stream lined as it’s too confusing now what people should be looking for and setting up. It’s also a bit more taxing managing it all. Traderelayer trades are based on Smart Volume Analysis and should reflect that in every trade. The MHTC stuff is fine for me on a personal level but tends to be too risky and long term for what most users goals are. Basic tends to be great but due to optimization tends to not take a lot of trades unless conditions are absolutely perfect which the for the last couple of weeks has not been the case . I will combine basic alerts and standard features into a single option (with copier) I will also”turn on” some more signals and pairs in an effort to get some more trades. Advanced will remain unchanged and of course will include all the other alerts as well.
It’s my daughter’s birthday today so I may be slower than usual to answering tickets but if you have any questions or issues, as always, please let me know using the support link in the website.
A lot of you have been waiting for spots to open up and now that a large number of basic and standard subscribers have upgraded to the new advanced option, we have a few spots available for both the standard and basic accounts. We have also launched an additional add on for the basic option (a copier). This will allow those that were unable to get into the other options to get started started trading with us in real time. It is limited to 20 spots initially so they may not be available for long.
If you have any questions, contact us using the support link.
Things are starting to calm down and now Basic is fully on and the results have been decent for the day thus far:
total for today +68.9 pips. Even though it’s quoted as a daily total, this was literally in just an hour or so of trading. I expect to go live fully with each option over the next couple of days now that most people are back from the holiday break.
Some people (New advanced users) have said they are having some issues with the copier(s).
Be sure to check your journal tab for any indications as to what may have gone wrong and contact me if you even suspect there may be a problem. All trades are published to the alert feeds so check those to see if you may be missing anything.
Later today I will send out some test pending orders far away from the market so you can all verify your copier settings for each option. I will post a message to each feed to let you know when I am about to do that.
There have been some questions regarding the account types and what they are based on. There is an in depth description of each option within the FAQ pages of the website but quickly:
Basic is automated trading based on an optimized version of one of of my published SVA methods. This option does not currently include a copier. (Read note below)
Standard is trades I take personally in addition to the basic trades.
Advanced is comprised of advanced techniques such as trade groups (AKA Baskets) based on volume rather than lagging indicators and trades on higher volatility pairs etc. This option also includes the standard and basic alerts as well as copiers for each type of alert.
Note: A new basic option is expected to launch shortly which will include a copier for a slightly higher subscription price.
As always if you have any questions or issues let us know straight away using our support link on the home page.
I have added some scripts and tools to make trading the Trade Groups a bit easier (If you choose not use the copier)
The files can be found within the client area (Advanced Members Only)
If you have any questions please submit them using the support link on the website homepage.