Welcome to FX Rogue Wave Foreign Exchange Trading methodology. A horizontal channel, straddle type EA.
FX Rogue Wave is an Expert Adviser or EA that I have been working on for several years.
A few months ago, I thought I would try my hand at selling the EA. But, have since chosen not to for several reasons. But, I did enjoy posting my results, so instead of trying to sell it as well as trade with it, I will focus on trading with it and posting my results here. Maybe in the future, I will open it up to others, but I find marketing to be a distraction to trading. That is just me and my choice to focus on one thing without distraction.
I have a couple requests:
1. The EA is not for sale...please don't ask.
2. I do not offer trading services, management of other's accounts, or PAMM...please do not ask.
I can share an experience that I had recently if it helps. For months I had been trading profitably. Then I was asked to trade on someone else's account for a piece of the profit. That made me over confident and my ego swelled. But, I found that when it was not my money at risk, but someone else's, I became a nervous wreck. I wanted to succeed for both of us and was afraid of losses. I began second guessing each of my trades. And my confidence and ego went into the tank. And that showed in the equity curve on the client account I was trading and since they did not see the same growth as I had before they contacted me initially, we parted ways.
Now I am back to trading my own account and I am back to normal.
Some people believe that running a PAMM account or managing other peoples money is the way to riches. And it very well may be. But it is not for everyone. At least not for me.
In other words, it has been stated many times that psychology can play a more significant role in trading than charts and indicators. That has been proven to me. Focus on what you know, stick to your own rules and since the market isn't going anywhere, it will be there tomorrow. Don't be afraid to skip a session or two and take a break now and then. IMHO
Why FX Rogue Wave?
In Nature, Oceanic Rogue Waves are an open water phenomenon, in which winds, currents, non-linear phenomena, and other circumstances cause a wave to briefly form that is far larger than the "average" large occurring wave of that time and place.
As Rogue Waves are unpredictable in nature, so are breakouts in Forex.
I have designed a tool to assist in profiting from these breakouts and standard trade patterns using nothing but previous price action.
Just as in nature, rogue waves cannot be predicted. To the same extent, I make no claims that FX Rogue Wave can predict price movement.
What it can do is show a visual point of reference to allow traders where wave action has been previously and then trade the current market conditions at the click of a mouse.
Nature is one of my passions and I have witnessed a correlation to the ocean in nature and forex trading. Also, I do not consider myself a professional trader. My other passion is gambling. Over the years, I have been very successful and have incorporated both passions into this EA. Probability and Waves. FX Rogue Wave is a gambling algorithm and should be viewed as such.
The only thing that can validate my theories is trading, so I will let the statistics in back testing with actual data and live trading results speak for themselves.
Concept:
The concept behind FX Rogue Wave is that any market cannot stay stable for long. That is something I think we can all agree on.
When looking at a chart, we see highs, lows, spikes, trends, and ranges. The challenge comes when choosing an entry point in all that chaos.
The EA is a hybrid of automation based on manual initialization.
When placed on a chart, the EA will place guide lines with entry and exit points based on x number of pips from current price. Top of channel a blue line will be created for Long entry point and Bottom of channel will be Red for SHORT entry point. Yellow lines will be created for estimated target close. These lines will move with price action until START button clicked, then the channel will lock in place for duration of trade sequence or until STOP button is clicked.
The trick is finding the best place to start the EA. Straddling recent flat periods during points of accumulation occurring concurrently at a price high or low seem to be the best times to initialize the EA with the START button.
Using the presumption that the market cannot stay flat for long, it would be a rare occurrence for the market to stay within a 30-40 pip range for a long enough period that at least one of the orders in sequence will eventually catch the breakout and close in profit. FX Rogue Wave does not care what direction the market goes...as long as it goes there!
One order will be placed on chart if an entry line is crossed, LONG order for top entry point being crossed or SHORT order if lower entry point is crossed. Stop loss will be just before the opposing entry point.
If an order closes by reversing and hitting the stop loss, the EA will wait until there is a breach of the same or opposing entry point, in which a new order will be opened at a higher lot size based on order value sequence. Sequence will continue until last order in sequence closes in loss, STOP button is clicked, or sequence losses recovered in profit.
The EA uses a martingale algorithm for recovering. As many false breakouts occur during a double top or bottom situation, if the false breakout occurs causing the first trade to fail in loss, it is recovered by the 2nd in the opposite direction. There is a limit to the number of martingale iterations controlling risk and avoid blown accounts as trade sequences are limited to 25% risk of account. I have no rule that states the EA MUST run the full sequence. I may close orders manually by clicking the STOP button to lock in my profits.The most important component of the strategy resides between the keyboard and the chair. I consider myself a gambler, not a professional trader. This was designed as a gambling algorithm and the combination of EA and user trades as such.
FX Rogue Wave is an Expert Adviser or EA that I have been working on for several years.
A few months ago, I thought I would try my hand at selling the EA. But, have since chosen not to for several reasons. But, I did enjoy posting my results, so instead of trying to sell it as well as trade with it, I will focus on trading with it and posting my results here. Maybe in the future, I will open it up to others, but I find marketing to be a distraction to trading. That is just me and my choice to focus on one thing without distraction.
I have a couple requests:
1. The EA is not for sale...please don't ask.
2. I do not offer trading services, management of other's accounts, or PAMM...please do not ask.
I can share an experience that I had recently if it helps. For months I had been trading profitably. Then I was asked to trade on someone else's account for a piece of the profit. That made me over confident and my ego swelled. But, I found that when it was not my money at risk, but someone else's, I became a nervous wreck. I wanted to succeed for both of us and was afraid of losses. I began second guessing each of my trades. And my confidence and ego went into the tank. And that showed in the equity curve on the client account I was trading and since they did not see the same growth as I had before they contacted me initially, we parted ways.
Now I am back to trading my own account and I am back to normal.
Some people believe that running a PAMM account or managing other peoples money is the way to riches. And it very well may be. But it is not for everyone. At least not for me.
In other words, it has been stated many times that psychology can play a more significant role in trading than charts and indicators. That has been proven to me. Focus on what you know, stick to your own rules and since the market isn't going anywhere, it will be there tomorrow. Don't be afraid to skip a session or two and take a break now and then. IMHO
Why FX Rogue Wave?
In Nature, Oceanic Rogue Waves are an open water phenomenon, in which winds, currents, non-linear phenomena, and other circumstances cause a wave to briefly form that is far larger than the "average" large occurring wave of that time and place.
As Rogue Waves are unpredictable in nature, so are breakouts in Forex.
I have designed a tool to assist in profiting from these breakouts and standard trade patterns using nothing but previous price action.
Just as in nature, rogue waves cannot be predicted. To the same extent, I make no claims that FX Rogue Wave can predict price movement.
What it can do is show a visual point of reference to allow traders where wave action has been previously and then trade the current market conditions at the click of a mouse.
Nature is one of my passions and I have witnessed a correlation to the ocean in nature and forex trading. Also, I do not consider myself a professional trader. My other passion is gambling. Over the years, I have been very successful and have incorporated both passions into this EA. Probability and Waves. FX Rogue Wave is a gambling algorithm and should be viewed as such.
The only thing that can validate my theories is trading, so I will let the statistics in back testing with actual data and live trading results speak for themselves.
Concept:
The concept behind FX Rogue Wave is that any market cannot stay stable for long. That is something I think we can all agree on.
When looking at a chart, we see highs, lows, spikes, trends, and ranges. The challenge comes when choosing an entry point in all that chaos.
The EA is a hybrid of automation based on manual initialization.
When placed on a chart, the EA will place guide lines with entry and exit points based on x number of pips from current price. Top of channel a blue line will be created for Long entry point and Bottom of channel will be Red for SHORT entry point. Yellow lines will be created for estimated target close. These lines will move with price action until START button clicked, then the channel will lock in place for duration of trade sequence or until STOP button is clicked.
The trick is finding the best place to start the EA. Straddling recent flat periods during points of accumulation occurring concurrently at a price high or low seem to be the best times to initialize the EA with the START button.
Using the presumption that the market cannot stay flat for long, it would be a rare occurrence for the market to stay within a 30-40 pip range for a long enough period that at least one of the orders in sequence will eventually catch the breakout and close in profit. FX Rogue Wave does not care what direction the market goes...as long as it goes there!
One order will be placed on chart if an entry line is crossed, LONG order for top entry point being crossed or SHORT order if lower entry point is crossed. Stop loss will be just before the opposing entry point.
If an order closes by reversing and hitting the stop loss, the EA will wait until there is a breach of the same or opposing entry point, in which a new order will be opened at a higher lot size based on order value sequence. Sequence will continue until last order in sequence closes in loss, STOP button is clicked, or sequence losses recovered in profit.
Inserted Video
The EA uses a martingale algorithm for recovering. As many false breakouts occur during a double top or bottom situation, if the false breakout occurs causing the first trade to fail in loss, it is recovered by the 2nd in the opposite direction. There is a limit to the number of martingale iterations controlling risk and avoid blown accounts as trade sequences are limited to 25% risk of account. I have no rule that states the EA MUST run the full sequence. I may close orders manually by clicking the STOP button to lock in my profits.The most important component of the strategy resides between the keyboard and the chair. I consider myself a gambler, not a professional trader. This was designed as a gambling algorithm and the combination of EA and user trades as such.
