Customer Newsletter 141111
FX AlgoTrader Customer Newsletter Autumn/Winter 2011.
Dear FX AlgoTrader Customers,
As 2012 draws closer I thought I would take this opportunity to share some ideas with you and bring you up to date with what's going on with FX AlgoTrader product development.
As many of you know I released the Advanced Statistical Arbitrage V2.5 system earlier in the Spring. The initial uptake of the system was really impressive and aided significantly by the www.donnaforex.com thread which one of the V2.5 customer very kindly started. V2.5 is a complex system which offers arbitrage traders a comprehensive arbing toolkit. Some V2.5 customers have had very good results from the V2.5 system but hard figures are difficult to come by. The V2.5 client base includes some pretty big hitters so I'm not surprised they keep their trading results confidential.
I also released a multi currency range analyzer and a real time correlation indicator which are both supporting products for the V2.5 arb system. The multi currency range analyzer can also be used independently for standard directional trading.
I use the range analyzer as my primary decision making tool for directional trading as it provides an easy way to see how the market is moving at a macro level due to it's ability to anayze 32 currency pairs from a single chart window. In a nutshell the system provides real time analysis on the daily range and the frequency of new highs and lows as they're formed. It can be run on any timeframe. I don't trade until I see high frequency alerts triggered by the range analyzer. Once the alerts are triggered I inspect the analyzer and see which major currency pairs are on the move. If I see EURO strength accross the board, I look for the most active pair in the EURO section of the analyzer. Then I open a chart for this particular pair, layer over Daily, Weekly and Monthly pivots and then look at where the price derived support and resistance levels are on the higher timeframes (ie Hourly, H4, Daily and Weekly) - I then set pending orders based around these levels. This style of trading keeps me out of the market when there's nothing going on which also reduces my trading frequency which is a good thing. So far my account is up 69%. The real key for me is to hang onto winning trades ie run the winners and cut the losers. This has taken me a long time to learn and I believe it's a critical component to long term successful trading, however there's no accounting for trading tastes and styles!
Another interesting product (still in beta release) is Iridium which forms part of the TT (Trendline Trading) Series. I developed Iridum to take on (and beat) the magic stick product developed by FX Circle. From the feedback I've had to date customers using Iridum in beta form are pretty impressed. Iridium can trade any number of trendlines on the same chart - this allows traders to use a whole array of different trading strategies on the same chart. Iridium is the first in a trilogy of products which make up the TT Series. I am working on Gold this month and will start Platinum (the final product in the TT series) in December.
Development plans.
I have been working on an MT5 port on and off for a while and have a Daily Pivots Pro (working on 32 bit version of MT5. The 64 bit version is still work in progress. The big question is how many MT4 traders are planning to upgrade to MT5? I've put together a simple poll below. If you could click one of the options it would be really illuminating from a development point of view.
Online Surveys - Zoomerang.com
From what I understand one of the big limitations with MT5 is the inability to run hedged positions due to the FIFO ruling in the USA. I looked at an MT4 ECN version supplied by OANDA which has been tweaked to be FIFO compliant. It created hedging error messages even when I opened non opposing trades. Not encouraging! The FX AlgoTrader product development pipeline is currently:-
TT Series - Gold (2011)
TT Series - Platinum (2011)
Candle Dynamics (2011/2012) - In candle real time tick data analysis (experimental at this stage)
MT4 Recharge - a revamp project for all existing FX AlgoTrader MT4 indicators and EAs. (2011/2012)
Correl Pool - A more automated advanced arbitrage system with a multi currency arbitrage engine (2012)
MT5 Porting for existing MT4 products (2012)
I would welcome any comments regarding product development ideas, MT5 thoughts, suggestions for product improvements etc etc etc.
Contact: info@fxalgotrader.com
Regards
Crispin
FX AlgoTrader
Dear FX AlgoTrader Customers,
As 2012 draws closer I thought I would take this opportunity to share some ideas with you and bring you up to date with what's going on with FX AlgoTrader product development.
As many of you know I released the Advanced Statistical Arbitrage V2.5 system earlier in the Spring. The initial uptake of the system was really impressive and aided significantly by the www.donnaforex.com thread which one of the V2.5 customer very kindly started. V2.5 is a complex system which offers arbitrage traders a comprehensive arbing toolkit. Some V2.5 customers have had very good results from the V2.5 system but hard figures are difficult to come by. The V2.5 client base includes some pretty big hitters so I'm not surprised they keep their trading results confidential.
I also released a multi currency range analyzer and a real time correlation indicator which are both supporting products for the V2.5 arb system. The multi currency range analyzer can also be used independently for standard directional trading.
I use the range analyzer as my primary decision making tool for directional trading as it provides an easy way to see how the market is moving at a macro level due to it's ability to anayze 32 currency pairs from a single chart window. In a nutshell the system provides real time analysis on the daily range and the frequency of new highs and lows as they're formed. It can be run on any timeframe. I don't trade until I see high frequency alerts triggered by the range analyzer. Once the alerts are triggered I inspect the analyzer and see which major currency pairs are on the move. If I see EURO strength accross the board, I look for the most active pair in the EURO section of the analyzer. Then I open a chart for this particular pair, layer over Daily, Weekly and Monthly pivots and then look at where the price derived support and resistance levels are on the higher timeframes (ie Hourly, H4, Daily and Weekly) - I then set pending orders based around these levels. This style of trading keeps me out of the market when there's nothing going on which also reduces my trading frequency which is a good thing. So far my account is up 69%. The real key for me is to hang onto winning trades ie run the winners and cut the losers. This has taken me a long time to learn and I believe it's a critical component to long term successful trading, however there's no accounting for trading tastes and styles!
Another interesting product (still in beta release) is Iridium which forms part of the TT (Trendline Trading) Series. I developed Iridum to take on (and beat) the magic stick product developed by FX Circle. From the feedback I've had to date customers using Iridum in beta form are pretty impressed. Iridium can trade any number of trendlines on the same chart - this allows traders to use a whole array of different trading strategies on the same chart. Iridium is the first in a trilogy of products which make up the TT Series. I am working on Gold this month and will start Platinum (the final product in the TT series) in December.
Development plans.
I have been working on an MT5 port on and off for a while and have a Daily Pivots Pro (working on 32 bit version of MT5. The 64 bit version is still work in progress. The big question is how many MT4 traders are planning to upgrade to MT5? I've put together a simple poll below. If you could click one of the options it would be really illuminating from a development point of view.
Online Surveys - Zoomerang.com
From what I understand one of the big limitations with MT5 is the inability to run hedged positions due to the FIFO ruling in the USA. I looked at an MT4 ECN version supplied by OANDA which has been tweaked to be FIFO compliant. It created hedging error messages even when I opened non opposing trades. Not encouraging! The FX AlgoTrader product development pipeline is currently:-
TT Series - Gold (2011)
TT Series - Platinum (2011)
Candle Dynamics (2011/2012) - In candle real time tick data analysis (experimental at this stage)
MT4 Recharge - a revamp project for all existing FX AlgoTrader MT4 indicators and EAs. (2011/2012)
Correl Pool - A more automated advanced arbitrage system with a multi currency arbitrage engine (2012)
MT5 Porting for existing MT4 products (2012)
I would welcome any comments regarding product development ideas, MT5 thoughts, suggestions for product improvements etc etc etc.
Contact: info@fxalgotrader.com
Regards
Crispin
FX AlgoTrader
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