My eBook is available for download

As you probably know, I have been working on my book, "The Forex Millionaire Maker". Well, I have finally got it completed. The book is available for download here. I would appreciate any feedback that you might have, or any input that I might be able to use in future editions of the book. Future editions will most likely be in print format.

Work has begun on the next EA

First of all, I must apologize for waiting so long in between posts. I have had alot going on these days. Mostly finishing up my eBook, "The Forex Millionaire Maker". I have also been working pretty hard on a new EA. I won't reveal the name yet because it's very catchy and I don't want anyone stealing the name from me :-)

Anyway, it is nothing like the AME Cross Trader. It uses some of the same entry logic but overall it is a completely different beast. It does not have to be watched so heavily, and for the most part it can be turned on and left unattended. When it's done, this will be the EA that has the cheezy web site with all the backtest results and hype about how you don't need to know anything to use it, blah blah blah. However (and oddly enough), it will all be true. And more importantly, it works!

This new EA is one that you turn on and ignore it, and it will send you an email when it is time to withdraw money from the account. When you get the email, you turn off the EA, withdraw money, wait for your account balance to reflect the withdrawal, then turn the EA back on and do it again. It is a thing of beauty.

Meanwhile, my trading this month has been horrible! I must apologize for that as well. My account balance went from over $1000 in january to less than $300 today. My target for the next withdrawal is $3000, so I have alot of ground to cover before I get there. But if you bear with me, you will witness the account grow over time at a fairly rapid rate. Say a little prayer for me just in case. :-)

I changed the format of my account statement

Click the "Recent Account Statement" link on the right and you'll notice that the format has changed dramatically. I am now breaking the statements down by month and including a total gain/loss for each month. It starts from 1/1/2009 so there's only one full month there right now, but over time I will add data for each coming month. Also, a quick glance will show you that I'm not doing so well these days, but I am hoping it will pick up soon. :-)

Anyway, take a look at the new format and let me know what you think.

OK I'm back in the market now.

I dropped GBPCHF for now, although it looks like it is in a good position for trading now, after it took half of my account balance from me. :-(

Anyway, GBPJPY has moved clear above the 200MA and looks like there's room for upward movement. I have had the EA running on a demo account for the last few days and it has been doing quite well, so I decided to try it on my live account with these parameters. Remember this is for InterbankFX. For FXDD you want scaleDivisor=1000, and you want at least $1000 in your account.

• minTradeSize = 0.1
• scaleDivisor = 100
• stopDollars = 1000
• shortMaBars = 12
• longMaBars = 54
• stopBars = 6
• useLimit = 1
• limitPips = 30
• useMM = 1
• aggressiveMode = 1
• slippage = 10
• panicMode = 0
• maxTotalLots = 1000

I am still not confident in the market right now, but this really looks like a good opportunity to capture some nice profits. Please proceed with extreme caution if you are considering trading along with me.

Looks like I may have started a new trend

It seems that since I started selling the AME Cross Trader, some of the other ATC2008 contestants have started doing the same...

• PrizmaL - 2nd place winner
• abeiks - 3rd place winner

Even the first place winner, Liliput, chose to auction a single copy of his EA and donate the money to charity!

Also, it turns out that some scumbag has taken advantage of this fact and has put up a scam site, offering to sell illegal copies of my EA, other ATC2008 contestants EA, and about 200 other products. I suspect the site has been up for quite a while and the ATC2008 products were added recently.

• www.bookdepartment.info/ea-champhionship-winner/cat_17.html

Either way, be careful when looking for trading robots because you might run into a site like the one above.

Can you say "OUCH!"?

January turned out to be a horrible trading month for me. My account went from $1000 to just over $500 in January. My target is $3000 before I make my next withdrawal, and I am determined to reach that target. I will not diverge from my trading style to get there. Some loss is expected. I know my strategy works, but sometimes knowing *when* to stay out of the market is the most important part of a strategy. This is where I failed in January. I even recommended to a few of my customers that they stay out of the market until February. I wish I had taken my own advice.

Also, getting very familiar and comfortable with the currency pair you are trading is of utmost importance. I have been experimenting with EURCHF and GBPCHF, because GBPJPY had started behaving differently at the end of 2008, but I have not had enough time and experience with them to say that I know them well. This may have been part of my problem also. There's a good chance I will be trading GBPJPY again soon, so maybe that will help me reach my next goal of growing the account to $3000.