Introducing Variety A New Blogging Project ~ forex trading laptop

3:17 PM in a, approach, blogging, Forex, in, introducing, managing, money, new, practical, project, trading, variety

Today we are going to go a little bit away from the usual articles about currency trading so I apologize to my regular audience if you were expecting the usual - hopefully well written - article dealing with forex automated trading or other revelant aspects of the forex market. However today and tomorrow I am going to be talking to you about some interesting developments that have happened within the last month (dont worry, tomorrow it will be about automated trading), which have prompted me to make some new projects to improve the way in which things are evolving.

This post will be dealing with a new project I came up with which has absolutely nothing to do with automated trading or forex for that matter. This new project started as a need for variety as I felt my life and projects were being limited by my work as a currency trader. Certainly being a day trader is fun and automated forex trading is an amazingly complex and wonderful field but in addition to developing systems, investments, asirikuy and this blog I needed to do something else which stimulated other areas of my - now heavily left hemisphere oriented - brain.
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What did I come up with ? Well, since I love helping people and I do feel I have substantial knowledge in other fields which I developed within my quest for profitability in trading and my studies as a scientist, I decided to start a new blog about just whatever I could think off that I could write to help people improve their lives. This new blog called "Entirely For You" (you can always access it directly at http://www.entirely4you.com) is my attempt to show people another side of me which will have- hopefully - a lot of practical and theoretical knowledge to help people in their everyday lives. (for those of you who have read my blog for a while- yes- I did have a name in Quechua :o) but it was already taken !)

My objectives with this blog are clearly not financial but only recreational in the sense that I love writting and writting about other things besides automated trading is a way to "ease my workload" and prevent a burn out which would have certainly happened in a few months or years ifI had continued this excessive focus on automated trading systems. Sure, I will continue to post daily here and do all the weekly work as usual but my new blog will provide me with some relief when I feel like writting about something else and hopefully it will also give people a good deal of information derived from the little but applied wisdom that I have acquired through my life.

Of course this blog also means that you will get to know me better as a person, something which I think is vital when you need to develop trust in someone else, you will learn about my opinions relevant to other subjects and definitely some other aspects of my personality. This not only means that you will know that I am definitely a flesh and bone human being but that I have absolutely nothing to hide from you and that everything I do in my life is approached from the most ethical, honest and proffesional way I can :o). So I hope you enjoy this new website and you visit it often ! (update frequency will vary but probably I will post once or twice a week) Please leave any comments or opinions you may have ! :o)

On a side note, there is also another surprise for you related with automated trading which will be released tomorrow (hint : notice that new orange box at the bottom of the page ?)

If you would also like to learn more about my work in automated trading please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

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Forex Expert Advisors Forex Maximizer an Unbiased Review ~ forex trading license

4:39 PM in a, advisors, an, blogging, expert, forex, introducing, maximizer, new, project, review, unbiased, variety

Today I will be revieweing one of the new trading systems which has been released over the past few weeks. This trading system - called Forex Maximizer - promises you will be earning an income every month in no time, with consistent results that will "not make you a millionaire" but will allow you to "quit the search for a new 9 to 5 job". As always I will analyze the evidence provided by the author and I will see if they are truly able to backup the claims made on the website. By analyzing the evidence I will also be able to tell you the soundness of the trading systems tactics and whether or not the system has a high like hood of being long term profitable. In the end I will give you my fully unbiased opinion of whether or not this trading system is worth buying and testing.

The Forex Maximizer website starts with the usual marketing hype that we have come to love so much. It talks about the mighty and mystical gurus that dont want you to know their "secret" to profit from the forex market. What particularly bothers me are the statements that follow this guru talk which are just bluntly misleading and which are simply marketing phrases pointed to make people believe that "getting profit in forex is easy", "even if youve never traded", etc. Then the author goes on and on about how most forex robots "suck" and will lose your money but his trading system - which is not a scalper - will have you banking up consistent profits in no time.

However, when it comes to backing up his claims of consistent profitability and actual real earning capabilities this author simply fails bluntly. What we have as evidence of profitability is simply some hand-picked screenshots of trades -which could as well be made by hand- and some pieces of backtesting results and a screenshot of the strategy tester resuts of a one year backtesting statement. We dont have even access to the backtesting statement or the simulations results to adequately know how the simulation turned out.

Why are simulation results limited to only 2009 ? Why arent 10 year results included ? Why isnt the backtesting statement shown ? These things are all supicious because showing more evidence only makes up a stronger case for the seller and the absence of evidence usually points out that this is simply not the case. Additionally, backtesting statements from commercial EA sellers CANNOT BE TRUSTED because there are simply almost infinite ways in which these results can be manipulated to produce profitable results.

In the end, the maximizer trading system has absolutely no proof of profitability with some very limited backtesting results being the only piece of available evidence, since the backtest is not validated this information is also pretty much useless. There are absolutely NO third party investor-access verified live testing accounts needed to proof the systems profitability and to show actual back/live testing consistency. Why in the world would this guy refuse to show us his statements if his system was so profitable ? Even more, why doesnt he show us his statements if he has - as he says- been trading the system for a while ? It is absolutely amazing that someone with so little proof of profitability is even willing to try to sell a system as if it was profitable.

The fact that there is a willingness to hide evidence shown as an absence of backtesting statements and 10 year backtests and the fact that there is simply no third party investor-access verified live account to backup any claims of profitability and validate the backtests shown tell us that the Forex Maximizer system is simply NOT worth buying and testing. If the seller puts up 10 year backtests and shows a 6 month investor-access verified live test with at least 50 trades (and a backtest of the same live testing period) I will redo this review to include the new evidence. Meanwhile, this trading system is nothing but a part of the usually over-hyped trading systems with little -if actually any- evidence of profitability.

If you would like to find an education about automated trading and how you to can develop systems based on sound trading tactics to achieve realistic risk and profit targets please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

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My Currency Trader Magazine June Article Check it Out ! ~ forex trading jobs in london

5:51 AM in a, adaptive, alternative, article, check, criteria, currency, feature, Forex, introducing, it, june, magazine, my, new, of, out, teyacanani, trader

As many of you may already know - if you have been following my blog for a while - I have become a somewhat "regular" contributor to Currency Trader Magazine, one of the most well-known and respected magazines published in the area of forex trading. Besides featuring very famous and well-respected authors such as Barbara Rockefeller, the magazine tries to give people quality articles about both fundamental and technical aspects of currency trading. I have to say that Currency Trader Magazine had become a monthly "must-read" for me before I started writing in it, with its articles being very good to catch both a birds eye view and a practical perspective over current market conditions but being an author now gives me the opportunity to humbly contribute to this great monthly magazine. On todays post I want to talk to you a little bit about my June article and how I think it provides very valuable information about market inefficiencies and the way in which they evolve over time. You can download the June edition of the Magazine -containing my article- for free here(if it is already August and youre reading this then you will have to purchase the issue separately).

The article I wrote for the June issue attempts to address a significant question I had been asking myself for a while. Is the market so inefficient that the movements within trading sessions are predictable ? I wanted to take a look at the Asian session in particular and answer this interesting question regarding whether or not we could look at this session for a period of 4 years and predict the future magnitude of absolute movement and the range within this trading session. Would it be possible that the market moves in a predictable way during this period of low volatility ? I started to do some research to find out.

In the article I go through an analysis of the Assian sessions range and absolute movement within the past 4 years on the EUR/USD, EUR/GBP and EUR/CHF attempting to find a "pattern" of evolution that could signal the existence or absence of a "predictable movement" within this session. Of course, part of this research was inspired in the fact that many commercial system sellers have attempted to exploit inefficiencies around this session that have worked for a while and have then become obsolete. I have always thought that there is some predictability around the Asian session but attempting to exploit it without any adaptability is simply a behavior prone to eventually fail (you really wonder how many of those sellers are really traders).

The results I found were - for me - absolutely breath taking. The analysis of absolute movement values for the three different pairs revealed nothing spectacular, showing that the ranges evolve widely as the market changed. Effectively this proves why Asian session scalpers are doomed to fail, the character of the session changes tremendously with time and exploiting it using such systems in the long term is not going to work. However I then took a different look at the picture and evaluated the range and absolute movements differently - taking certain additional market elements into account- obtaining a wonderful result. As a matter of fact, what I found confirms what I have suspected for a long time.

Not only are the Asian session conditions predictable, but they are almost the SAME for the EUR/USD, EUR/GBP and EUR/CHF. This means that my article found a key part of fundamental market behavior, a characteristic of the market that appears to remain unchanged as time goes by. Of course, the details of this analysis cannot be revealed here (you need to go ahead and read the article ! :o) ) but you will see that my analysis shows clearly that the Asian session is technically inefficient and that creating systems to exploit this inefficiency is indeed possible. During the next few months I will be working on the creation of several different mechanical trading systems to use this research to show that effectively the behavior within the Asian session lends itself to mechanical exploitation.

I hope you have read and enjoyed this post and my June article. Please leave any comments, questions or suggestions you may have :o). As always, if you want to learn more about my work in automated trading and how to use forex trading systems that use sound trading techniques to be likely profitable in the long term please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

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Introducing Our New and Exclusive Profit and Draw Down Asirikuy Analysis Tool o ~ forex trading journal software

7:29 PM in analysis, and, asirikuy, common, down, draw, exclusive, five, Forex, in, introducing, mistakes, new, o, optimization, our, profit, system, tool

If you have read my posts during the past few months you will notice that I have become increasingly interested in the analysis of trading portfolios and the effect of trading several different systems together. After I was able to implement a solution that made the balance of Asirikuy experts independent it became possible to trade systems without their balance calculation becoming dependant on the other systems trades, something which in turn opened the door towards the merging of backtesting results to accurately evaluate joint performance of the different trading systems. Up until now all this analysis had been made through the use of SQL scripts and VBA macros which were implemented by several Asirikuy members. Thanks to their effort we were able to do accurate calculations on the draw down and profit characteristics of portfolios. However it became evident that these solutions to portfolio analysis were not very comfortable needing backtesting statement manual reorganization in excel followed by loading into an SQL server and then loading onto a separate excel spreadsheet to run VBA macros. For this reason we decided to start a project with an Asirikuy member (named Gábor) who offered some of his free time to do all the coding of this new draw down/profit analysis program. On todays post I have the pleasure to introduce this little Asirikuy-exclusive utility, our own profit and draw down analysis tool :o).

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What is so great about this program, what does it do ? The program has many virtues that make it exceedingly good for backtesting statement analysis. The application allows us to load one or a series of backtesting statements joining them together automatically and calculating a series of very important characteristics which are not calculated on the metatrader backtester (not even the MT5 backtester). The program automatically calculates draw down periods, their length, their depth, yearly profits and monthly profits. Having all this information "a click away" is extremely important since it will allow us to do very fast Asirikuy portfolio analysis without having to through the cumbersome process needed to use SQL scripts for this purpose.
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The image above shows you one of the main characteristics of this software, displaying the equity curve for the loaded backtests (in this case three) plus the addition of their results to show you the "portfolio equity curve". This instant snapshot of the equity curve is important since it allows you to see which systems were losers and which ones winners through the testing period you are evaluating. This in turn allows you to gauge the contributions to the maximum draw down and the overall risk level of the different systems, letting you know which system causes the most loses or profits.
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The above picture shows you perhaps the most useful feature of the software, the ability to display draw down period lengths and depth of a given portfolio with great easyness. This allows you to know the average extent of draw down periods and how long you would have to be prepared to wait if you want to use a given trading strategy. It gives an overall realistic picture of a systems trading characteristics showing you why it is evidently hard to trade and what you should be looking forward to regarding eventual loses and losing periods. This draw down period analysis has become a very important part of system analysis within Asirikuy, letting us evaluate accurately worst-case scenarios and largest draw down period lengths.

Besides the features I have commented here, the software also has the ability to display monthly and yearly profits, important characteristics that are useful for determining the overall trading character of a given system. How profitable is the average month ? How many months are winners vs how many are losers ? What is the average yearly profit ? All these questions are answered by our new Asirikuy tool and its ability to dissect trading results into yearly and monthly statistics.

As time evolves we will be able to implement new features and correct bugs that may appear but currenlty this new profit and draw down analysis tool is a very nifty and welcome addition to Asirikuy. From later today, Asirikuy members will be able to download this piece of software from the Experts section of the website. If you would like to learn more about my journey in automated trading and how you too can start to design your own long term profitable systems based on sound trading tactics please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

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Alternative Adaptive Criteria Introducing a New Feature of Teyacanani ~ forex trading jobs in uae

6:26 AM in a, adaptive, alternative, any, are, bad, conditions, criteria, feature, forex, in, introducing, market, new, of, teyacanani, there, trading

One of the main problems Teyacanani has faced from the moment of its release is the use of a daily ATR indicator with small period values (3 to 6) which are extremely sensitive to the presence or absence of Sunday candles within the brokers feed. The fact that these periods are small makes the presence of these candles extremely influential, something that doesnt happen with the turtle system or Watukushay No.2 which use much longer ATR period lengths (14-20). In order to solve this problem we have implemented an EA that generates an offline chart without Sunday candles but this system does not work on some brokers for reasons pertinent to each brokers particular software implementation. On todays post I want to introduce a new solution to this Teyacanani problem showing you a new type of adaptation that uses the ATR indicator but does not rely on daily indicator data, effectively eliminating the problem of Sunday candles for this EA on brokers where our non-Sunday solution does not work.

What is exactly the problem with Sunday candles ? When you calculate the value of a daily ATR indicator, the code calculates the value of the ATR assigning the same weight to the values of all daily candles. On brokers where Sunday candles exist these candles are treated - within the calculation of the ATR - as if they were regular daily candles when they usually have only 10-20% of the regular volume of a complete weekday. When you calculate the value of the daily ATR for a small number of periods you will often get a very significantly smaller value for the indicator when compared with an indicator where no Sunday candles are involved.

Many people - me included - will think here that the best and easiest solution would be simply to decrease the values of the filters on the EA to compensate for a "lower overall" ATR value. However the main issue here is that no accurate 10 year backtesting data with Sunday candles is available to test the strategy and this therefore makes any modification done impossible to evaluate with metatrader 4. Possibly diminishing the value of all filters might work, but there is also a very important possibility that this will simply not work as - when low ATR periods are used - you might get days where the ATR is calculated without the Sunday candle. For example, a 4 period daily ATR on Friday only counts Friday, Thursday, Wednesday and Tuesday, leaving outside Monday and Sunday. Introducing a modification that decreases all overall ATR related variables will probably have an adverse effect on these days.

What is the solution then ? The easiest thing to do here was to find a way of removing the Sunday candles from the chart, merging Monday and Sunday candles to get a "clean feed" that simulates that of a broker without Sunday candles. Using an EA called "without Sunday", available from the mql4 code database, we were able to eliminate the problem for most brokers. However, due to limiations inherent to some other brokers - particularly Forex.com - this solution wasnt able to work correctly in some cases.

My solution for this case was to find another adaptive criteria that could avoid the usage of the daily ATR indicator. I thought that if you could simply take a lower time frame and "extrapolate" you could maybe obtain the same results as you would with the regular daily-ATR solution. So my implementation was therefore really simple. Take a given hourly-ATR period indicator and then multiply it by X so that you reach a magnitude similar to that of the daily ATR indicator. You would still get evolving adaptability as market conditions change but of course, the speed and character of the adaptation would change.
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In the end I found the results showed above for the EUR/USD and GBP/USD currency pairs using Teyacanani (Jan-2000, Jan-2010). The trading results - after following the same optimization procedure as with the original Teyacanani version - were very similar to those obtained with the daily-ATR solution, showing that a given hourly-ATR could in fact extrapolate to a daily-ATR without great changes in the effectiveness of the adaptation against volatility. However it is clearly notable here that this approach does not tend to work for all currency pairs. Some instruments like the NZD/USD and AUD/USD tend to have larger and more changing hourly volatilities that do not provide an adequate reflection when extrapolated towards daily volatility. The results obtained for these currency pairs are therefore poorer than when using the regular Teyacanani EA.

In the end, what this exercise has taught me - and I hope I have transmitted to you within this article - is that volatility adaptation can be carried out successfuly through many levels and that alternatives to daily-ATR based adaptation are clearly possible but may prove to be different for instruments with different characteristics. Right now this new version of Teyancanani - now available within Asirikuy - provides users of brokers that could not implement the WithoutSunday solution with a version of Teyacanani that can run on the EUR/USD and GBP/USD with similar profit and draw down targets. Volatility adaptation has always been one of my great areas of interest in automated trading and hopefully within the next few months and years I will be able to develop some robust and creative adaptive criteria :o).

If you would like to learn more about automated trading system development and how you too can develop systems that adapt to changes in market conditions please consider buying my ebook on automated trading or joining Asirikuy to receive all ebook purchase benefits, weekly updates, check the live accounts I am running with several expert advisors and get in the road towards long term success in the forex market using automated trading systems. I hope you enjoyed the article !

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