My name is Chad Zel, and I am a Forex trader for the last 8 years.
From the first day of my Forex career, as a software engineer, I was ambitious to develop an automatic Forex trading system, that will trade the same systems I use manually.
My friend, which sat all day long infront his 7 computer monitors, complain that his eyes are pain, from hours of staring at those monitors, waiting to the correct moment to trade.
The slavery situation can be more frustrated, since a human eye and brain can only focus up to 3-4 pairs, 2-3 time frames at the same time, leaving out wonderfull trading opportunities at pairs and time frames that cannot followed.
So, I asked myself , how to catch those trades, all done automatically?
After a long time and a lot of effort I finally finished the development of my software, which perform back testing and automated trades of my manually trading system.
After a lot of back testing of almost all pairs, with almost every trading method , I have reached to those conclusions:
1. The best performance of Forex trading achieved by price action trading. The Price Action trading is based on candlestick patterns, which yields a better chance to win the trade.
2. I found that the trades based on indicators are not accurate, because the “lag” of time between the signal to trade produced by the indicators, and the actual market condition, yielding a lot of loose trades. The only exception is the moving average indicator.
3. I found that the most profitable trades, are trend follow trades.
4. AND the most important conclusion is: There is no software that achieve human trading performance. This is a huge conclusion based on the understanding of the nature of Forex trading.
The Forex trading is based on pattern recognition, which is eye based patterns recognition. The patterns can have a lot of variations, which experienced trader can identify, and a computer does not.
So, the most powerful software for trade is NOT fully automated (“Robots”), but semi – automated software.
The semi – automated software monitors all time, all the market, at all time frames, and finds the most profitable pairs to trade based on the power of trend and a pattern recognition capabilities.
Lately I found very powerful software which I found as very good one, and I want to recommend it to you.
The pros of this software are:
1. Web based application, so you can connect to your account from your cell phone, any time any place.
2. You can set an alerts, which automatically sent to your mail. So, you can check online the trade opportunity, without sitting all day long in front of your monitor.
3. The software is running on the vendor computer, leave your computer free from running it.
4. The software is based on trend identifying, and pattern recognition, which are the most important for success trades.
5. The software is very cheap for use.
6. This kind of trading enable you to keep your day job, and trade “on the way”, with your cell phone.
7. Clear and simple to use.
The cons of this software is:
The only one I found is that it cannot draw the pattern on your trading software (for example Metatrader).
If you are interested in more details please click here.