Can You Make Automated Forex Trading Really Work?

Podcast:

Play

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

#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, andrew@theforextradingcoach.com, 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

Play

Quick Links

FAQs

Contact
About Andrew
About Paul
Testimonials
Privacy
Disclaimer
Cookie Policy

Resources

Free eBook
Free Risk Calculator
Are You New to Trading Forex?
Are You About To Give Up Trading?
30 Minute Forex Trader Update
Online forex video course
One on One Coaching in Person
One on One Coaching – Online

© 2023 The Forex Trading Coach Ltd (NZ FSPR:FSP37396) provides general information and educational courses and materials only. This is not an offer to buy/sell financial products. We do not provide personal advice nor do we consider the needs, objectives or circumstances of any individual. Financial products are complex and all entail risk of loss. Over-the-counter derivative and foreign exchange products are considered speculative because they are highly leveraged and carry risk of loss beyond your initial investment, hence should only be traded with capital you can afford to lose. Please ensure you obtain professional advice to ensure trading or investing in any financial products is suitable for your circumstances, and ensure you obtain, read and understand any applicable offer document.

Latest Podcasts / Videos

#487: What Are Your Trading Goals for 2023

What Are Your Trading Goals for 2023  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #487: What Are Your Trading Goals for 2023 In this video: 00:25 – Happy New Year 00:50 – So few people have...

#486: Are You Ready to Trade in 2023?”

Are You Ready to Trade in 2023?”  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #486: Are You Ready to Trade in 2023?” In this video: 00:30 – The last video and podcast for 2022 00:43 –...

#485: My Top 5 Trading Takeaways from This Year

My Top 5 Trading Takeaways from This Year  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #485:My Top 5 Trading Takeaways from This Year In this video: 00:32 – My top 5 trading takeaways from...

#484: Over a 50% Return in the last 8 weeks

Over a 50% Return in the last 8 weeks  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course Click Here To Contact Ben Clay #484:Over a 50% Return in the last 8 weeks In this video: 00:41 – Client...

#483: My Favourite Candle Patterns to Trade

My Favourite Candle Patterns to Trade  Podcast: Find out more about Blueberry Markets – Click Here Find out more about my Online Video Forex Course #483: My Favourite Candle Patterns to Trade In this video: 00:37 – Trading the patterns 01:10 – Make your...