AME Support Resistance: New video posted

I just posted a new video on youtube that shows some uses for the AME Support Resistance Custom Indicator for MT4.

--> AME Support Resistance

The video is very informative and hopefully has information that can help you with your trading. Check it out and let me know what you think. I'm hoping to have a whole bunch of these videos over the next several weeks.

I started a new forward test

The demo account I had set up for testing Forex Set and Forget expired after a few months and I lost all the trading history and data that went along with it. So I just started fresh account and running FSaF version 1.09 on a different stats site. This one seems more comprehensive...

--> http://www.myfxbook.com/members/amelabs/fsaf15pairs/4977

I don't expect much because it is running on 15 pairs on a single account. What I really need to do is set up 15 different accounts and run forward test on each pair individually.

New EA Reliability Spreadsheet

I have been using this spreadsheet to determine the best combination of parameters to use with Forex Set and Forget. So yesterday after an optimization for version 1.09, I decided to make a video of part of the process that you can use with any EA that requires optimization.

--> http://forex-set-and-forget.com/spreadsheet/

I am also giving away the EA Reliability Spreadsheet for you to use with your own EA's, or with Forex Set and Forget or AME Cross Trader. Check it out. I think you'll like it.

Now using version 1.09 on the test account

As you probably already know, I have been forward testing all versions of Forex Set and Forget since June of 2009 on the account shown below in the graph. The first few versions drew the account down almost 20%. Then when version 1.07 came out, I used it to begin rescuing the account. Then version 1.08 was applied, which fixed some problems that occurred during connection failures, reboots or other interruptions, and also some synchronization problems between charts. As you can see in the graph, the account has been recovered and is a little ways in profit.

Now I have applied version 1.09 (coming out soon) to the account and have increased the trade size so that the account will grow (or shrink) faster than it has in the past. I will be treating this account as if it were my live account. No more experiments. No more neglect. The goal is about 5% gains per week on average.



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New videos and a free MT4 Indicator

I just posted some new videos on the Forex Set and Forget web site, and am giving away a free MT4 Support Resistance Indicator on the site. Definitely worth having. Videos are informative too! :-)

http://www.Forex-Set-and-Forget.com/indicator/

FSaF Version 1.09 is in the works

Version 1.09 of Forex Set and Forget is in the works and should be available no later than 31 October, which coincides with the end of an experiment I am currently conducting. Ten or so participants have agreed to run FSaF version 1.08 from 01 September until 31 October and provide me data and feedback about the experience (install, operate, manage, etc.). This will enable me to enhance the usability, reliability and discover any bugs that need to be fixed before version 1.09 is released. So far the response has been positive and a few have already seen some very nice profits. The feedback I am getting has been priceless and has prompted this "extreme makeover" from version 1.08 to 1.09.

Version 1.09 will be priced significantly higher than 1.08. Right now I'm thinking the price will be at least $249 but that price is not carved in stone. However, you can buy version 1.08 now at $99 and then upgrade to 1.09 for free when it becomes available. You have just a few weeks to take advantage of this situation before it's too late and the price goes up.

Check out these stats

This the same FXDD account that was running Forex Set and Forget on 10 pairs simultaneously, and had a steadily declining balance. Then I put version 1.08 on it to try and recover the losses. At this time the losses were recovered and the account is at break-even. Version 1.08 is proving to be quite the steady gainer. Yes there is drawdown but over the long term the profits outweigh the drawdown.

Here are some graphs showing stats from last month.





Balance vs. Period




Pips vs. Period



Pips vs. Orders


Remember when you go to the mt4stats site and look at the summary, it's not a pretty picture. The account was down about 10% before I put version 1.08 on to rescue it. So you're not looking consistent gains from start to end. What you are looking for is the recovery over the last month.