Can You Make Automated Forex Trading Really Work?
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Find out more about Blueberry Markets – Click Here
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#462: Can You Make Automated Forex Trading Really Work?
In this video:
00:28 – The advantages of automated trading
01:31 – We created and launched TFTC Pattern Trader in 2020
02:31 – We’ve automated my manual trading strategy
03:03 – Live account up +6.8% this week
03:35 – How it works
05:55 – Check out Blueberry Markets
06:45 – Please like and subscribe & email me your questions
Can you make automated Forex trading really work? It’s something that people have struggled with for years. Let’s talk about that and more, right now.
Hey there, traders. It’s Andrew Mitchem here at the Forex Trading Coach with video and podcast number 462.
The advantages of automated trading
Automated trading. It’s something that people have been looking to do properly for years and years. It’s something that has so much appeal because you can basically set it up, leave it, set and forget. It trades for you, five days a week, 24 hours a day. Just does everything. It sticks to the rules. It’s perfect. But as you probably know, if you’ve been trading for any length of time, and if you’ve tried automated trading, or if you purchased EAs or expert advisors, any type of robot system, you’ll probably know that it doesn’t work and that it has failed. And I’ve personally had so many attempts and trials and goes at making automated trading work over the years, and right through from TradeStation, probably about 15 years ago, through to getting people to write code for me, through to buying those bits of software that you can create your own expert advisors, and it spits out the code for you. Tried everything and none of it works.
We created and launched TFTC Pattern Trader in 2020
And so that’s why, about two years ago, we launched our own automated trading software, which does work. And we have overcome all of those issues that people have traditionally had issues with and problems with. And we are very conscious of the fact that the people have so many indicators and they over-optimise things and they make it look absolutely awesome in hindsight. And as soon as the day you put it live, it just fails. It goes downhill like a lead balloon. It takes your account out and it’s just a waste of money and time. So we’re very conscious of that when we started developing our software. It’s called TFTC Pattern Trader the TFTC, of course, for The Forex Trading Coach Pattern Trader. So have a look online, tftcpatterntrader.com.
I’ll put a link to it below on this post, so you can go and find it and have a look. By the way, there’s a free 10 day trial to the most basic version. You don’t get to trial the full thing, but there’s videos showing you what that does include.
We’ve automated my manual trading strategy
Now, one other things we did is we took my manual trading strategy and we tried to automate it as best that we can. And you’re never going to have everything exactly perfect because the human eye and the brain can figure out a lot of things that you cannot programme. But likewise, there are so many advantages of it, such as, it looks all of the time for you. It takes the trades to the set rules and the right risk management, et cetera. So there’s pros and cons to automated trading as there are manual trading.
Live account up +6.8% this week
But to give you an idea just this week so far, I am up 6.8% on my live account. I’m risking only half of 1% per trade, and I’m up 6.8%. I haven’t taken a trade. I haven’t touched a thing. It’s 100% automated and I’m up probably what my bank’s going to pay me in at least two years or three years. And I mean, I’ve made that in a week. Does it make that every single week? No, of course it doesn’t. But it can do that, when the conditions are right, for the bots that you’ve created.
How it works
So the software in general allows you to very, very easily, no coding required, create bots using my strategy on different pairs, different timeframes, different markets as well. And you can then trial that software. You can actually back test it, but also you can forward test. So for example, you could go and back test the last say five years. But four of those will be back tested and the most recent year going forward, it will walk forward using the results and the settings that it created effectively a year ago. So you can see how it would’ve performed over the last year or whatever timeframe you choose walking forward. Really, really cool feature that. And it just adds a lot more realism to the results.
To give you an example, we did an upgrade about seven months ago and the highest performer so far on a live account is up 43% on a live account. And the other beauty of what we’ve done is you can log in there and view the settings of any of the bots that other people have created. So for instance, you could just simply go and find the settings that the person who created the top performing bots, go and look at the stats and tweak them if you need to, the settings, or you can just simply go and copy those and create your own bot with exactly the same settings, and you will get exactly the same results.
Your MT4 or MT5 five trading account is built into the system. So there’s no external virtual server needed or windows updates or any of that type of thing. It’s absolutely bulletproof and a fantastic bit of software.
So as mentioned, there is a free 10 day trial to the most basic version, and you can just go and see how it works there. You can set it up so it’s manual, and so it sends trade alerts through to your phone on Telegram, or completely automated, or a combination of both. It really is, without doubt, the best automated trading software that I’ve ever seen, and I’ve been trading the Forex market for coming up 18 years now. It’s something that we developed knowing all the other issues out there. And of course, because it’s based on my manual trading strategy, the actual foundations are there with a core strategy.
Check out Blueberry Markets
One more thing to mention, if you are looking for a new broker, MT4, MT5 broker, I can highly recommend Blueberry Markets. They’re based over in Australia, but they can take clients in pretty much all countries around the world. There’s a couple of exceptions like the US, due to regulations, et cetera. But pretty much most other countries can trade through Blueberry Markets. So a great bunch of guys. I’ve been with them for years, ever since they started. I’ve met them personally. I speak to them from time to time. We’ve sent a lot of people there. We’ve suggested people go and have a look at them, and the feedback, every single time without fail, is exceptional. So if you’re out there looking for a new Forex broker, consider taking a look at Blueberry Markets. Test them out and trial them. I’ll put a link to them also below this video and podcast. So that’s it for now.
Please like and subscribe & email me your questions
Don’t forget to like and subscribe if you’re watching this on YouTube or any podcasts. Any questions that you have, feel free to email me personally, [email protected], and I will personally reply back to you. If you have any topics you’d like me to discuss on future videos and podcasts, just like this one, just drop me line and I’ll be glad to help you out, and to help you progress with your trading.
So once again, this is Andrew Mitchem here at the Forex Trading Coach. I’ll see you this time next week. Bye for now.
Episode Title: #462: Can You Make Automated Forex Trading Really Work?
Find out more about Blueberry Markets – Click Here
Find out more about my Online Video Forex Course
Find out more about my TFTC Pattern Trader
Podcast: Play in new window | Download
Subscribe: Apple Podcasts | Spotify | Android | iHeartRadio | Blubrry | TuneIn | RSS
