If you haven't noticed, Forex Set and Forget version 1.06 has been performing very poorly during the month of July. July was a strong ranging month for just about all pairs, which means support and resistance were relatively close to each other and price, for the most part, was bouncing back and forth between support and resistance.
Forex Set and Forget 1.06 suffers when this phenomenon occurs because it tends to place buy orders right at resistance and sell orders right at support, which are almost guaranteed to be losing trades. Because of this, July was not a good month for Forex Set and Forget (FSaF).
Version 1.07 introduces a new custom indicator called "AME Support Resistance", which tells FSaF what the support/resistance levels are. This new information is then used to decide if it is wise to place buy/sell orders at the current price levels. The new indicator can also be plotted on your charts and is very handy for manual trading, even day trading on the 5 and 15 minute charts.
However, as a result of the new indicator, FSaF tends to place alot less trades now. Sometimes going weeks without trading. This is especially true when the support and resistance levels form a narrow channel that does not give FSaF enough room to capture the minimum profits in a trading round. Because of this, I have greatly improved FSaF's ability to run on multiple charts simultaneously. I know how you traders think. If your EA is not in a trade then you get nervous. :-)
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment