Some Updates

Dear FX Robot Man & Advanced Droid Tactics Readers:

In this update:

1. New ADT v5.0
2. August Performance
3. ForexVPS
4. Forex Bling Bonus

1. New ADT v5.0

As a result of the recent losses that some of you have been experiencing on the Overlap setup I have decided to change the recommended settings. Basically we will only be using Aggressive = FALSE from now on for all charts and all setups in the ADT method.

I have updated the PDF to v5.0 with the new settings, and the corresponding changes to the Risk Tables. Also in the new v5.0 I have expanded the Installation Instructions for the Profile Reset Indicator to include instructions for the Auto Installer, and updated instructions for installing the files by hand.

There is no need to go through the checkout process again for the update. The new version of the PDF is available for download in the Member’s Area of the website. No changes have been made to the Profile Reset Indicator at this time – so there is no need to re-download those files.

2. August Performance

I continue to have connection issues with my demo server, but will be moving to a new ForexVPS account now that they have increased the available memory on their service.

The ADT Overlap and Unified were trading with the old settings and higher risks at the beginning of August so don’t make too much of the performance difference between those two and the ADT Hybrid which came on a bit later with lower risks.

Either way the ADT method shows a substantial advantage over the default MegaDroid settings.

• MegaDroid Default - Loss (-7.2%)
• ADT Overlap Setup - Profit +16.2%
• ADT Unified Setup – Profit +16.9%
• ADT Hybrid Setup – Profit +7.4%

4. ForexVPS.com

I have tried several different VPS services and they all have good and bad features. I know some of you get VPS hosting from your brokers, and there are many VPS options out there. However, I have been reasonably happy with ForexVPS.com and they recently upped the RAM memory for each of their accounts. If you have been considering a VPS host for your forex trading you might have a look at their new specs :
http://www.forexvps.com

5. Forex Bling Bonus

I am guessing that many of you are being bombarded with emails regarding the new Forex Bling package of EAs that was created by the folks at Forex Hope. I purposely do not send my customers very many promotions because most the EAs that come out are garbage. Right now I can’t say whether Forex Bling will be good or not, but I have been following the developers of this package for several years now. They have been around for a while and they support their products. It is offered through ClickBank so if it turns out to be crap then just as k for your money back.

Because many of you will probably purchase this package anyway I wanted to offer you a bonus if you decide to purchase through my affiliate link. http://www.fxrobotman.com/recommends/forexbling

I have have been working on a package of MT4 tools that I developed for myself to make my trading easier and to automate some routine functions I perform. I still need about 2 weeks to write the instructions and get them ready to distribute, but if you purchase Forex Bling through me I will give you some of these tools for FREE:

• “Order Entry Scripts”
  These scripts allow you to enter Market Orders and Limit Orders and set the take profit and stop loss values in Pips as opposed to calculating the exact price each time. In addition, these scripts will automatically calculate your position size based on your stop loss and the % risk you want to take on the trade.
• MetaTrader Restart Indicator
  MetaTrader is notorious for eating up the memory on your VPS server no matter how efficient your EAs or Indicators are. Wouldn’t it be nice to have an indicator that can automatically close and then restart all of your MT4 terminals on the day and time of your choice? My Restart Indicator launches a customizable batch file that will close all of your MT4 terminals and then one by one bring them back on. You can specify the day and time you want to restart, and also tell it to only restart if there are no open trades.

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That is all I have for now. As always please feel free to email me with questions or comments.

Best of Luck with your Trading,
Ben

FAP Scalp Stop Override Update and Free Indicator

Note: Although the Stop Override EA was designed for FAP Turbo users, I am also giving away a free indicator in this post called “FXRM Open Trade Pip History”.

New Version of FAP Scalp Stop Override EA

It was recently brought to my attention by a reader that my FAP Scalp Stop Override EA was not working for all users and all brokers.  I believe the problem has to do with the way that some brokers quotes their currency pairs.

For readers that may be new, the FAP Scalp Stop Override EA is a little Exert Advisor that I wrote for owners of FAP Turbo. The Stop Override allows the user to customize their own stop loss values for the FAP Turbo Scalper strategy. For example, the defualt stop loss may be -110 pips, but that may be higher than what the trader is comfortable with. Thus, using the Stop Override the users may override this stop loss value and have the trade close at -75 pips.

For most standard accounts the broker will use standard symbols such as “EURGBP”, “EURCHF”, and “GBPCHF”. However, other brokers may add letters to either the beginning or end of the symbol name. As an example, the IBFX Mini accounts that many use actually add the lowercase letter “m” to the end of the symbol name. Thus, the symbols would appear as “EURGBPm”, “EURCHF”, and “GBPCHFm”.

I have corrected this problem by allowing you to edit the symbol names for each pair in the EAs Input tab. If your symbols names do not match your broker’s symbols, then this EA will not do what it is supposed to do. I have also removed the password requirement, because even I found that kind of annoying. I have fully tested this EA and have found that it closes trades as intended when it is setup properly.

You can download the new version here:  “FAP Scalp Stop Override v2″

To identify how your broker quotes their symbols, you typically just need to look in the upper left hand corner of your chart window. Here is an example from my IBFX Mini account:

EURGBP with little "m"

Please let me know if you encounter any further issues with the Stop Override EA. If you are wondering where exactly to set your stops, then this next section might be of use to you. Running the “FXRM Open Pip History” on a FAP Turbo demo account with the default stop settings should give you some insights on where to set the stops for each pair.

FREE Indicator: FXRM Open Trade Pip History

Have you ever had trouble figuring out exactly what the best stop loss or take profit level is for your trading strategy or trading robot? Personally I ask myself that question all the time. In theory, if you have a system that can be back tested and optimized using the MT4 Strategy Tester, then the optimization procedure should find the best values for you. But, not all systems can be back tested accurately, and it is not always clear how a  the strategy developers decided on the default settings. Also, it can be time consuming to wake up in the morning and try and figure out exactly what happened with trades that were executed while you were asleep.

I really wanted a solution to this, and as the saying goes, necessity truely is the mother of invention. So, I developed the following MT4 indicator that will give you running history of the maximum pips that an open trade goes either positive or negative on each trading bar, and will tell you where the trade eventually closed at (don’t worry – I have some pictures for examples). Even if you are not interested in changing your stop loss and take profit values, I think this indicator is actually pretty neat.

Keep in mind that these indicators are “Live” indicators. They CAN NOT look backward in time and generate a pip history for closed trades. Basically they just record the trades as they occur. If you change the settings or restart your platform, you will lose the information in the indicator….

You can download this indicator here (FXRM stands for FX Robot Man): “FXRM Open Trade Pip History”

You can also download a similar indicator to track your broker’s spread: “FXRM Spread History”

The indicator does have one primary limitation though – it can only track ONE open trade per chart. As long as you have different Magic Numbers for each chart, it can track as many trades on the same pair as you want, but it doesn’t work well with multiple trades with the same magic number.  So, if you are using grid trading or a similar strategy that carries multiple open orders on the same pair with the same magic number this indicator doesn’t really work right.

Here are some examples:

This short trade on the EURUSD H4 chart immediately ran a maximum of +228 pips into profit, before eventually being stopped out at +168.

This Short Trade on the EURJPY H1 chart had a spike down to a maximum +210 pips before retracing. It was eventually stopped out for +72 pips of the +210 pips possible.

This Short Trade on the GBPUSD H4 chart quickly moved +300 pips into profit, but eventually retraced on stopped out at break even.

Articles I Am Working On

• Status of the “Perfect Circle” Hedging Strategy
• FAP Turbo Monte Carlo Simulations (this one is sweet)
• Rules of Thumb for Spotting Shady Forex Claims
• Some Legitimate Trading Signal Providers
• A Profitable EA for $20

As always – may the Pips be with you!

-Ben aka FX Robot Man