Max-Marc Fossouo interviews Tony Manso

Here is an interview I did last week that may be of interest to you as a Forex trader.

Visit the Forex Set and Forget web site for more information.

Finally, Forex Set and Forget 2.00 is here!

After months of experimentation with and tweaking of Version 1.11, I finally have produced the mysterious and elusive Forex Set and Forget 2.00. Here is a list of changes as they appear on the update page. These mostly pertain to the packaging and installation.

• New software installer eliminates the need for copy/paste into Metatrader folder.
• Check for Updates from the Start Menu.
• Register Live Accounts from the Start Menu.
• Read documentation directly from the Start Menu.
• Install the robot to Metatrader from the Start Menu!
• Completely re-designed entry logic.
• Completely re-designed trailing stop logic.
• New improvements made to the Custom Library.
• All new currency pairs (AUDJPY, EURUSD, GBPUSD and USDCHF). The old currency pairs will automatically use the previous version of FSaF when you load the templates.
• Preset files now included for back testing and/or optimizing.

Bottom line. Forex Set and Forget 2.00 is...

• easier to install,
• easier to apply to Metatrader,
• easier to upgrade,
• more reliable,
• has lower drawdown,
• has vastly improved documentation,
• comes with presets for back testing and optimizing,

and even comes with an all-new Cash Flow Strategy Guide!

Forex Set and Forget v2.00 the excitement is building!

So far I am pleased with the performance and reliability of Forex Set and Forget version 2.00. I'm talking about

• New entry logic
• New trailing stop logic
• New currency pairs
• More consistent results

Just click on the screen shot below to see the results of a three year backtest on AUDUSD. Even just looking at the screen shot you can see a nice profit graph. That is over a three year period. Not many EA's can show that kind of result.

This backtest was run with a $300 starting balance and no money management. In other words, every trade was the same size. The ending balance after 3 years was over $1300. That means a person could have withdrawn 10% of their initial deposit every month from the account and after 3 years still have their initial deposit! Imagine being able to withdraw $5000 per month out of your MT4 account that only has $50000 in it. Yeah. That's what I'm talking about.

Incidentally, I ran the same backtest with money management enabled, so the trades were at no less than 1:10 leverage, and it still survived the full 3 years, AND had an ending balance of nearly $7000 (2233% profit). Of course the drawdown was insane but even so, it recovered fully and survived the entire testing period.

Anyway, at this time I am tying up loose ends such as packaging, documentation, sales page, ordering page, etc. and I'm close to releasing it to the public.

Get on my mailing list if you want to be notified when the new version is released. OR you can simply purchase the current version and upgrade for free when the new version becomes available. Here's why doing this makes the most sense...

Version 2.00 and higher will be on a subscription basis. You will be able to run on a demo account unhindered. But to run on a live account you will need to pay a monthly subscription fee. HOWEVER, if you buy the current version and upgrade, you will simply pay the $117 one-time and will never be charged monthly fees for your first live account. Most people never use more than one live account

My book is published! Hooray!

This post is more for backlinks than anything else. But if you're interested, my book is now published for print and eBook readers...

• The Forex Millionaire Maker on Amazon (Print format)
• The Forex Millionaire Maker on Amazon (Kindle format)
• The Forex Millionaire Maker at Barnes and Noble (Nook format)
• The Forex Millionaire Maker on CreateSpace (Print format)

I believe that the Nook version is compatible with other eBook readers but I'm not sure. Anyway, I'm excited to finally have my book available in so many formats.

Forex Set and Forget version 2.00 coming soon

Yes, it's true. Finally after months of experimenting and draining both live and demo accounts, I have what I believe is the final exit logic for Forex Set and Forget version 2.00. Entry logic is good but I believe I can make it even better. But that's a future version. Hopefully in the next two weeks or so I will have all of the documentation and packaging updated.

Get on my mailing list if you want to be notified when I release the new version.

What's Tony doing these days?

It's been a while since my last post. I have been busy experimenting with a new (translation: I don't know anyone else trying this) robot concept. As tends to happen very often, it started out being one thing and has gone in a completely new direction. I may go back to the original concept after a while but for now I'm very excited about the progress I'm making on this robot.

This one is not a "set-and-forget" type of robot. In fact, it's quite the opposite, and if left unattended for too long (I'm talking months, not days) then it positively absolutely WILL lose most of (but not all of) your account. But so far for cash flow, this thing is unbelievable.

At this time I am running some optimization experiments and forward tests. But if this thing turns out as good as I hope, then I will be calling for some volunteers to help me with a massive forward test of at least 100 participants.

If you want to be a participant for the forward test then get on my mailing list (signup form on the right of this page) and you'll be notified when that time comes.

P.S.

Forex Set and Forget version 2.00 is on hold for now and will likely have some of the exit logic of the new robot. If you have been using version 1.11 the last few months, you may have noticed that it has been failing consistently since around august. Upgrades to version 2.00 will be free, so don't throw away your current version because you'll need it in order to upgrade.

P.P.S.

If I do release this new robot to the public, people on my mailing list will be the first to know.

Forex Set and Forget: Your Initial Deposit?

It seems that, in all the documentation that comes with Forex Set and Forget, I somehow managed to forget to mention what your initial deposit to your account should be! OOPS! So, I will summarize it here as best as possible...

• If your account can place trades of 0.01 standard lots (1 pip = $0.10), then deposit at least $300 and set minTradeSize=0.01, and set scaleDivisor=300 (at least).
  
  
• If your account can only place trades of 0.1 standard lots (1 pip = $1.00), then deposit at least $3000 and set minTradeSize=0.1, and set scaleDivisor=3000 (at least).

• If your account can only place trades of 1.0 standard lots (1 pip = $10.00), then deposit at least $30000 and set minTradeSize=1.0, and set scaleDivisor=30000 (at least).

That's pretty much it. With these settings, Forex Set and Forget can withstand losses of at least 9 consecutive trading rounds and still have enough left in your account to recover fully. Not that you want to lose so many in a row, but knowing that you can do so and not lose everything will help your emotions when trading.