A new version of the AME Cross Trader is coming

I am experimenting with a new version of the AME Cross Trader that will (hopefully) drastically reduce the number of times it will have to endure drawdown. Version 2.03 will also have a bug fix where I am using the bid price instead of the ask price for take-profit on sell orders. This should improve the number of times take-profit is reached. Of course there will be free upgrades for existing customers. Anyway, I am hoping to have the new version available in a week or so.

I may have to switch parameters soon

If GBPJPY closes below 132.7 on the H4 chart, I will switch the parameters on the AME Cross Trader as follows...

shortMaBars=6
longMaBars=12
stopBars=6

When this happens, it will have moved below the 200 moving average, and dropped below the nearest support point, which usually indicates a freefall to the next support level, which in this case is around 127. That's a 500 pip freefall and I'm gonna capture as many of those pips as possible.

GBPJPY seems back to normal again

If you had been running the AME Cross Trader with shortMa=6 and longMa=12 for the last few days, you'd very likely have some nice profits right now. I have been running it with longMa=200, so I'm watching all these opportunities come and go. Also, you should close trades manually when the price touches the MA6, if you suspect yourself to be at the top of a peak or bottom of a dip.

I started forward testing a new EA

This is an interesting one. It can hold multiple trades open at a time and it's kinda scary to watch because the drawdown can be high. But it's nice because you tell it how much profit you want to make and you leave it alone. When it reaches that amount of profit it will close all trades then email you so you can make a withdrawal and restart the EA. I am considering publishing the results of my forward test, but that won't be for a while yet. I'm not sure I have the optimization technique perfected, so this test might fail horribly. And I'm getting kinda tired of publishing horrible results :-)

I created a twitter account

I just created a twitter account and added the link in the "My Other Sites" section of this blog. I am experimenting with using twitter as sort of a signal service for people who are interested in my opinion of the markets. Feel free to sign up and receive tweets of my observations, trades, etc.

https://twitter.com/forexmilmaker

Meanwhile, GBPJPY looks like it's heading down towards the 200MA. If you look at the 4-hour chart you'll notice a peak around february 13 that tops out around 133.80. This peak has acted as support for several bars near the end of the month and I believe the price will test this level again as a support, and if it breaks this then my guess is a smooth ride down to the 200MA. If not then I'm hoping for a bounce off support and a cross above the 6MA so that the AME Cross Trader can start making money again. We can see this happen as soon as the next two days, so let's see if I'm any good at predicting market moves. :-)