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Comparison of AutoClick Services

  • #1
  • First Post: Feb 9, 2007 7:51am Feb 9, 2007 7:51am
Straddling is not the only way to trade news. Beating the spike using fast AutoClicks is another one. Hence, I'd like to get your inputs on the various AutoClick services out there.

I am currently testing out Dustin's RRS service. NZD, AUD and GBP news were no trade and a dissapointment But when it was able to autoclick on the CAD news, it gave me hope. (LOL I won enough to pay for the 2 week demo)...

How about the others using SecretNewsWeapon (SNW), ForexMuse and others ?
  • #2
  • Feb 9, 2007 8:05am Feb 9, 2007 8:05am
I used Dustin's trial for two weeks. But most of the time it was frustrating as I couldn't log in. After repeated try sometimes I could log in barely 2-3 minutes before the news and then it's really difficult to set up everything quickly without any mistake. I didn't continue after the trial period is over.

Then I switched to SecretNewsWeapon. Initially it seemed to be good. But when compared with Dustin's, I think Dustin's is better since it tells you any conflicts with revisions.

In the last week and this week SecretNewsWeapon gave to horrible (wrong signal) signals for Australian data and as a result everyone sufferered huge loss. The problem was when the trade balance deviated by only -330m it showed the deviation as -330000000 and it heat the safe triggers. Then for Australian employment data, when the deviation was only -3.6K it showed
-3600 and heat the safe trigger. I was trading GBP/AUD (for more volatility)
and my broker (IFX markets) filled me at the top of the spike and before I could realise I was down 100 pips and I do not know what to do now.
  • #3
  • Feb 9, 2007 8:16am Feb 9, 2007 8:16am
Quoting Saurabh_g
I used Dustin's trial for two weeks. But most of the time it was frustrating as I couldn't log in. After repeated try sometimes I could log in barely 2-3 minutes before the news and then it's really difficult to set up everything quickly without any mistake. I didn't continue after the trial period is over.

Then I switched to SecretNewsWeapon. Initially it seemed to be good. But when compared with Dustin's, I think Dustin's is better since it tells you any conflicts with revisions.

In the last week and this week SecretNewsWeapon gave to horrible (wrong signal) signals for Australian data and as a result everyone sufferered huge loss. The problem was when the trade balance deviated by only -330m it showed the deviation as -330000000 and it heat the safe triggers. Then for Australian employment data, when the deviation was only -3.6K it showed
-3600 and heat the safe trigger. I was trading GBP/AUD (for more volatility)
and my broker (IFX markets) filled me at the top of the spike and before I could realise I was down 100 pips and I do not know what to do now.

I do feel sorry for those who lost money on that figure. IT is quite obvious that felix really has no idea how to trade, nor how to adapt the static trading model he learnt from his mentor. Quite frankly, the reason why he does this is becasue he's milking all his clients with the 1k subscription, he knows that this isnt a valid trading method anymore due to the widening of spreads etc. There's only one real way to trade the news and you guys will just need to figure it out for yourselves.
  • #4
  • Feb 9, 2007 8:18am Feb 9, 2007 8:18am
I have used RSS and Forexmuse. Forexmuse in my opinion is the best. It is a very well programmed application by an experienced professional(the owner himself) and there are no gimmicks and Marketing teasers like RSS and Secretweapon. It's another story that i wasn't able to get good fills with my broker, but almost everytime the calls could have beaten the spike and put me in good money, only if my broker were more cooperative. It costs the least among the 3 and in my opinion is still head and shoulders above the other 2.

Dustin's service looked like being run from a garage by some amateurs. Several times i would login to his tool to trade a news and only 2 minutes from the news time it would say that the news item is not going to be available. That is very frustrating , because if you have paid for something you either should get the service or get your money back. For obvious reasons , i did not continue with Dustin after the trial.
  • #5
  • Feb 9, 2007 9:29am Feb 9, 2007 9:29am
I think these services are hit and miss. I think the modern day trader needs more strategies in the long term than just news-related ones.
I trialled Dustin's and noticed that on a lot of releases, notably from Canada, Australia and New Zealand, the signal came late. Probably as a result of his news server picking it up late.So you would lose money if you got filled late, although you can turn off the software at any time, but you must be quick <1sec.
This has been my experience with SNW too, as the previous poster suggested.The main problem with these services are at the broker-end. You could get filled for a while, then you are either requoted or put on manual execution, and dont get to take any trades.
I think aswell, they will be a victim of their own success, as they essentially are a "time-arbitrage" service. Once too many people profit from this, the arbitrage opportunity will be gone.
Forex rules
  • #6
  • Feb 9, 2007 9:30am Feb 9, 2007 9:30am
Quoting forexplayer
I have used RSS and Forexmuse. Forexmuse in my opinion is the best. It is a very well programmed application by an experienced professional(the owner himself) and there are no gimmicks and Marketing teasers like RSS and Secretweapon. It's another story that i wasn't able to get good fills with my broker, but almost everytime the calls could have beaten the spike and put me in good money, only if my broker were more cooperative. It costs the least among the 3 and in my opinion is still head and shoulders above the other 2.

Dustin's service looked like being run from a garage by some amateurs. Several times i would login to his tool to trade a news and only 2 minutes from the news time it would say that the news item is not going to be available. That is very frustrating , because if you have paid for something you either should get the service or get your money back. For obvious reasons , i did not continue with Dustin after the trial.
Brokers are going to get less and less cooperative around news releases in my opinion. I often wonder how long it will be before these autoclick services don't work at all. Will News Trading one day be dead in the water - what do you guys think? Can you see a day when brokers allow no trading at news times at all? Curious as to what your opinions are......
  • #7
  • Feb 9, 2007 9:42am Feb 9, 2007 9:42am
Quoting forexprincess
Brokers are going to get less and less cooperative around news releases in my opinion. I often wonder how long it will be before these autoclick services don't work at all. Will News Trading one day be dead in the water - what do you guys think? Can you see a day when brokers allow no trading at news times at all? Curious as to what your opinions are......
My opinion is that no brokers are going to tolerate this beating the spike method for too long. It will be gone very soon. But there are other methods of trading the news which have always been around and will remain no matter what. This method is already on the decline and i can see the autoclick services trying to lock in clients by offering a little discount on yearly subscriptions.
  • #8
  • Feb 9, 2007 10:36am Feb 9, 2007 10:36am
Totally agree with you forexplayer.
I've not tested forexmuse but in my opinion RSS gives you everything you need to trade the news after the spike. You have the revisions, the other news if it is a multiple release,... based on all these figures, on historical data's and on support, resistance and fobonaci you can build a good trading strategy that should be ok even for long term.
...just my opinion...
  • #9
  • Feb 9, 2007 5:18pm Feb 9, 2007 5:18pm
Quoting forexplayer
My opinion is that no brokers are going to tolerate this beating the spike method for too long. It will be gone very soon. But there are other methods of trading the news which have always been around and will remain no matter what. This method is already on the decline and i can see the autoclick services trying to lock in clients by offering a little discount on yearly subscriptions.
Retail bucket shops hate it of course since they want you to lose and have time to manipulate and play games. In 10 seconds they don't have the time to do that. If you trade direct there is no issue.
  • #10
  • Feb 9, 2007 5:20pm Feb 9, 2007 5:20pm
Quoting Saurabh_g
...In the last week and this week SecretNewsWeapon gave to horrible (wrong signal) signals for Australian data and as a result everyone sufferered huge loss. The problem was when the trade balance deviated by only -330m it showed the deviation as -330000000 and it heat the safe triggers. Then for Australian employment data, when the deviation was only -3.6K it showed
-3600 and heat the safe trigger. I was trading GBP/AUD (for more volatility)
and my broker (IFX markets) filled me at the top of the spike and before I could realise I was down 100 pips and I do not know what to do now.
Interesting performance. Here is what Felix is saying today before the news:

Quote
Let's now talk about what's going on today.

1. Friday, February 9th, 2007 (4:30 am New York Time) UK
We have UK trade balance coming out. We have three different numbers, but the most important one by far is the visible trade balance that's expected to come out at -6,900 million. If this number comes out at -6,100 or less negative, you may possibly wait for the initial spike to happen, and go long on GBP/USD, and expect about 40 to 50 pips total move from pre-release price. If the number comes out at -7,700 or more negative, you may do a similar trade, but short GBP/USD instead.

2. Friday, February 9th, 2007 (7:00 am New York Time) CANADA
Then we have Canadian employment numbers coming out. It's expected that Canadian employment grew by 14K in the month of January. If the reading reads 40K or more, you can possibly wait for initial spike, then see retracement, and go short on USD/CAD. If the reading reads -15K or more negative, you can possibly wait for initial spike, see retracement, and go long on USD/CAD. I would expect a move of around 50 pips either direction, assuming that my triggers are hit... Remember, there is also unemployment rate that's coming out, and is expected at 6.1%. If there is a conflict by 0.2% or more on unemployment rate, I would suggest staying out of this trade.

It appears now that he is persuading people NOT TO AUTOCLICK... perhaps as a response to his service's errors?
  • #11
  • Feb 9, 2007 5:24pm Feb 9, 2007 5:24pm
Quoting BurgerKing
Interesting performance. Here is what Felix is saying today before the news:



It appears now that he is persuading people NOT TO AUTOCLICK... perhaps as a response to his service's errors?

It was not a problem with SNW but with the newswire provider who reported in thousands not millions as they usually do.

If the trigger was hit the results would have been the same - there was a 2 second spike before numbers came in. If you have been trading reports for a while you will know that ozzie reports are notorious for this. I had my fingers on the disable and I had no issues whatsoever. Everybody had more than enough time to react...

Stop placing blame elsewhere...Just learn from your mistakes and you will be better trader...

"The fault, dear Brutus, is not within our stars but within ourselves"
  • #12
  • Feb 10, 2007 5:37am Feb 10, 2007 5:37am
Hi, In brief my experience of Felix's service has been mixed... but I am happy with the results to date..

In December it got me into 7 winning trades before the spike for a total of 91 pips (welcome in a quiet month for me) including 1 loss of 16 pips

January saw a net gain of 121 pips including 2 losses, one small (-9 pips) one large (-61 pips). This large loss was a result of the service being 'caught out' by the conflicting surprise BOE minutes vote to the UK GDP. This was a clear mistake by 1. Me (for risking a trade when there COULD have been a reverse of the expected direction, and 2. Felix for not explaining the possibilities fully before we clicked the 'auto trade' clicker. ( If I was spooked I would not have traded)

So far in Feb I have had 2 winners, 6 No Trades and an ISM loss of 21 pips.

I luckily didn't get caught out by the direct error on the Aud trade, but Felix has said this should not happen again due to amending the software to not trade if an 'abnormal' number comes out of the news services.

In summary... When this thing works.. it is phenomenal (the UK rate hike was perfection, for example.. most getting 100-140 pips, plus the Jan Non Farm - I missed it, but most got around 75 pips, I believe)) and there HAS been a run of No Trades because of maybe conservative triggers (which is fine by me) and a couple of biggish losses (look at the NET gain though).

The only problem may be seen as subscribers (like me) getting over confident after a good run and then doubling or more their Lot sizes for the quick killing . (For example the UK GDP...) I am one of those, but I have certainly now learned to keep my Lot sizes exactly the same... A good lesson in Money Management and greed. Felix has been a good education, in my opinion, and I am learning (and earning) from his viewpoint on signals and when to risk a SNW trade or not..

Friday was a great example of a perfectly executed trade with a couple of pips way from the beginning of the spike on the CAD report, executed by Sell buttons on two platforms (Live) simultaneously with the new 'Hyperclick' function and got some great Pips profit (although there is always the tendency, as I did on that occasion,to exit for the quick profit and not wait for good support points etc. Felix does like to exit fast, but does still advise where likely points of support/ resistance are, but not as graphically as Dustin's perhaps.

BTW I also use the ManageTakeProfit EA as posted on this site in conjunction with my MT4 Platform and this sometimes (but not always) instantly puts the SL to Break Even after, say, 5 pips. Graet when this works, as, as long as the spike goes in the right direction even momuntarily, my worst case is no loss. This has saved me from losses on a few occasions.

Some brokers have not filled on occasion or requoted, so not got in on some trades (again not a problem, as long as no loss), but overall I have got filled perfectly on most SNW trades.

I am entirely happy to continue using Felix's service... it is improving all the time and if it continues to NET 100 pips or mre profit per month I am happy to let it complement my normal trading methods. I certainly don't straddle any more and as long as we can find more ways to protect against disasters (ie finding a way to put in an auto stop loss on execution)... a few of us are working on this... I reckon it is a great tool for news trading.

I may add, that on the majority of my trades I have exited far too quickly for the small (eg. 20 pip) profit, where I could have doubled or tripled by using proper exit strategies once safely in the trades, so I am sure the potential will grow as long as we can keep the Brokers filling the trades.

Hope this helps.

Rob
  • #13
  • Feb 10, 2007 7:05am Feb 10, 2007 7:05am
Quoting roberhert
Hi, In brief my experience of Felix's service has been mixed... but I am happy with the results to date..

In December it got me into 7 winning trades before the spike for a total of 91 pips (welcome in a quiet month for me) including 1 loss of 16 pips

January saw a net gain of 121 pips including 2 losses, one small (-9 pips) one large (-61 pips). This large loss was a result of the service being 'caught out' by the conflicting surprise BOE minutes vote to the UK GDP. This was a clear mistake by 1. Me (for risking a trade when there COULD have been a reverse of the expected direction, and 2. Felix for not explaining the possibilities fully before we clicked the 'auto trade' clicker. ( If I was spooked I would not have traded)

So far in Feb I have had 2 winners, 6 No Trades and an ISM loss of 21 pips.

I luckily didn't get caught out by the direct error on the Aud trade, but Felix has said this should not happen again due to amending the software to not trade if an 'abnormal' number comes out of the news services.

In summary... When this thing works.. it is phenomenal (the UK rate hike was perfection, for example.. most getting 100-140 pips, plus the Jan Non Farm - I missed it, but most got around 75 pips, I believe)) and there HAS been a run of No Trades because of maybe conservative triggers (which is fine by me) and a couple of biggish losses (look at the NET gain though).

The only problem may be seen as subscribers (like me) getting over confident after a good run and then doubling or more their Lot sizes for the quick killing . (For example the UK GDP...) I am one of those, but I have certainly now learned to keep my Lot sizes exactly the same... A good lesson in Money Management and greed. Felix has been a good education, in my opinion, and I am learning (and earning) from his viewpoint on signals and when to risk a SNW trade or not..

Friday was a great example of a perfectly executed trade with a couple of pips way from the beginning of the spike on the CAD report, executed by Sell buttons on two platforms (Live) simultaneously with the new 'Hyperclick' function and got some great Pips profit (although there is always the tendency, as I did on that occasion,to exit for the quick profit and not wait for good support points etc. Felix does like to exit fast, but does still advise where likely points of support/ resistance are, but not as graphically as Dustin's perhaps.

BTW I also use the ManageTakeProfit EA as posted on this site in conjunction with my MT4 Platform and this sometimes (but not always) instantly puts the SL to Break Even after, say, 5 pips. Graet when this works, as, as long as the spike goes in the right direction even momuntarily, my worst case is no loss. This has saved me from losses on a few occasions.

Some brokers have not filled on occasion or requoted, so not got in on some trades (again not a problem, as long as no loss), but overall I have got filled perfectly on most SNW trades.

I am entirely happy to continue using Felix's service... it is improving all the time and if it continues to NET 100 pips or mre profit per month I am happy to let it complement my normal trading methods. I certainly don't straddle any more and as long as we can find more ways to protect against disasters (ie finding a way to put in an auto stop loss on execution)... a few of us are working on this... I reckon it is a great tool for news trading.

I may add, that on the majority of my trades I have exited far too quickly for the small (eg. 20 pip) profit, where I could have doubled or tripled by using proper exit strategies once safely in the trades, so I am sure the potential will grow as long as we can keep the Brokers filling the trades.

Hope this helps.

Rob
It's always good to see ppl making money trading. As I've said before though, this is a temporary phenomenon just like guaranteed stops and as I can tell, the majority of those using these autoclick services (like yourself) are using retail brokers. By all means milk it for all it's worth for now because this will not last and you will not stand a chance in a regulated like fx futures.
  • #14
  • Feb 10, 2007 10:42am Feb 10, 2007 10:42am
Quoting roberhert
Hi, In brief my experience of Felix's service has been mixed... but I am happy with the results to date..

January saw a net gain of 121 pips including 2 losses, one small (-9 pips) one large (-61 pips). This large loss was a result of the service being 'caught out' by the conflicting surprise BOE minutes vote to the UK GDP. This was a clear mistake by 1. Me (for risking a trade when there COULD have been a reverse of the expected direction, and 2. Felix for not explaining the possibilities fully before we clicked the 'auto trade' clicker. ( If I was spooked I would not have traded)
Rob,
sorry to say but it was made abundantly clear to anybody who was paying attention that there was a high risk of conflict due to minutes coming in at the same time.
If you traded regular size on that one it was your fault hate to say it..
I myself raised my trigger to avoid whipsaw in case minutes came out and moved opposite and I never got into that trade.
Do your homework...
  • #15
  • Feb 10, 2007 10:46am Feb 10, 2007 10:46am
Quoting sccz97
It's always good to see ppl making money trading. As I've said before though, this is a temporary phenomenon just like guaranteed stops and as I can tell, the majority of those using these autoclick services (like yourself) are using retail brokers. By all means milk it for all it's worth for now because this will not last and you will not stand a chance in a regulated like fx futures.
That is exactly where it is difficult to trade this with all the games retail shops play. Banks trade reports all the time and I do to with institutional account and get usually better fill than retail platform. so please save us your wisdom since obviously you are not speaking from experience or the experience you are basing your comments on is limited.
  • #16
  • Feb 10, 2007 1:25pm Feb 10, 2007 1:25pm
Yep.. I got carried away... Not ashamed to admit it!!!!!! Won't happen again, and still happy with the overall gains...
  • #17
  • Feb 10, 2007 5:24pm Feb 10, 2007 5:24pm
Quoting roberhert
Yep.. I got carried away... Not ashamed to admit it!!!!!! Won't happen again, and still happy with the overall gains...
That's the right attitude. A lot of traders fail to take responsibility and learn from mistakes and perpetuate their pain.
You will make it...
  • #18
  • Edited 8:47pm Feb 10, 2007 8:27pm | Edited 8:47pm
Quoting zarni
It was not a problem with SNW but with the newswire provider who reported in thousands not millions as they usually do.

If the trigger was hit the results would have been the same - there was a 2 second spike before numbers came in. If you have been trading reports for a while you will know that ozzie reports are notorious for this. I had my fingers on the disable and I had no issues whatsoever. Everybody had more than enough time to react...

Stop placing blame elsewhere...Just learn from your mistakes and you will be better trader...

"The fault, dear Brutus, is not within our stars but within ourselves"
Im not into SNW, but I sure wish *YOU* can tell that to the traders who lost money from the errors *TWICE*!

People paying more than $250 a month deserves the explanation other than "im sorry this wont happen again..."


Addendum:

Let me review the historic charts for the pass 13 months on UK Trade Balance and CAD Employment Data.

When there is a big deviation on UK Trade Balance, there is only "minor" retrace within the first few minutes. Same goes with CAD Employment Data. Telling traders to "wait for the retrace" when pass charts dont agree with such opinion is not *accurate*. Of course, there were "retraces" when deviation is narrow; but why would I have a "narrow deviation" as trigger if I were to use AutoClicks? Just last CAD Employment data, the default/suggested trigger over at RSS was 25K, but I had it at 30K.

I dont do these Historic Charts for entertainment. I am doing them to show everyone OBJECTIVE performance of each data and how most traders trade such reports.
  • #19
  • Edited 8:44pm Feb 10, 2007 8:31pm | Edited 8:44pm
Quoting forexprincess
Brokers are going to get less and less cooperative around news releases in my opinion. I often wonder how long it will be before these autoclick services don't work at all. Will News Trading one day be dead in the water - what do you guys think? Can you see a day when brokers allow no trading at news times at all? Curious as to what your opinions are......
Quoting forexplayer
My opinion is that no brokers are going to tolerate this beating the spike method for too long. It will be gone very soon. But there are other methods of trading the news which have always been around and will remain no matter what. This method is already on the decline and i can see the autoclick services trying to lock in clients by offering a little discount on yearly subscriptions.
Edit/Delete Message
I'd rather *MILK* them now before they are gone, rather than them *GONE* before I could milk them. Opportunity knocks only once.
  • #20
  • Feb 10, 2007 9:21pm Feb 10, 2007 9:21pm
Quoting BurgerKing
Im not into SNW, but I sure wish *YOU* can tell that to the traders who lost money from the errors *TWICE*!

People paying more than $250 a month deserves the explanation other than "im sorry this wont happen again..."


Addendum:

Let me review the historic charts for the pass 13 months on UK Trade Balance and CAD Employment Data.

When there is a big deviation on UK Trade Balance, there is only "minor" retrace within the first few minutes. Same goes with CAD Employment Data. Telling traders to "wait for the retrace" when pass charts dont agree with such opinion is not *accurate*. Of course, there were "retraces" when deviation is narrow; but why would I have a "narrow deviation" as trigger if I were to use AutoClicks? Just last CAD Employment data, the default/suggested trigger over at RSS was 25K, but I had it at 30K.

I dont do these Historic Charts for entertainment. I am doing them to show everyone OBJECTIVE performance of each data and how most traders trade such reports.
Bottom line is I did not get in to those trades and "they" did. All of us using autoclick. You draw your conclusions....or maybe not your choice...
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