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    Expert Advisor and Forex Trading Strategies: Take Your Expert Advisor and Forex Trading To The Next Level
    Expert Advisor and Forex Trading Strategies: Take Your Expert Advisor and Forex Trading To The Next Level
    Expert Advisor and Forex Trading Strategies: Take Your Expert Advisor and Forex Trading To The Next Level
    Ebook53 pages30 minutes

    Expert Advisor and Forex Trading Strategies: Take Your Expert Advisor and Forex Trading To The Next Level

    By Wayne Walker

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    About this ebook

    You will discover advanced trading strategies along with easy to understand visuals on how to increase profits. This book is a unique combination of manual and automated trading. Therefore it is for the intermediate to advanced manual trader and those seeking an insight into programmed trading. As always Wayne writes in the direct and personal fashion that appeals to traders who want to get to the point. This book can be read with his Expert Advisor Programming for Beginners: Maximum MT4 Forex Profit Strategies, however, it is not mandatory as this also covers non-programmed trading techniques.


    The unique book covers the following topics and much more:  


    •Advanced trading strategies for both forex and equities


    •How to maximize a profitable trade with techniques used by institutional traders


    •Learn why and how to use volatility to increase your profitability


    •Understanding fundamentals of the programming language


    •Learn why and how to use volatility to increase your profitability


    •Why institutional traders do NOT use stops


    •What are realistic profits to target in the market


    •What is the best day of the week to open a trade


    •See close up the mind set of the big and small traders


    •Short term fast growth vs long term slow growth


    •How to optimize the break-even function for max profits

    LanguageEnglish
    PublisherPublishdrive
    Release dateMay 16, 2018
    Author

    Wayne Walker

    Wayne is known for the success that his students and readers of his books have. He is a trader trainer, coach and entrepreneur in demand. From his base in Copenhagen, this demand has led to trader training & speaking engagements in the United States, China, Jamaica, Norway, United Kingdom, Sweden, etc. Prior to Europe, he was based in New York City. His books are used to teach some of the world's brightest for ex. at Copenhagen Business School & Nanjing University. He is also a guest columnist to several financial magazines, for example CryptoCoin.news and in Spanish at Estrategias de Inversión. He has held several positions in investment banking including: Regional Manager for teams of Investment Advisors servicing North America & Middle East Regions (based in Denmark and London), Training Consultant to financial institutions. He also headed the Trader Training program at a leading investment bank. 

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      Book preview

      Expert Advisor and Forex Trading Strategies - Wayne Walker

      herein.

      Introduction

      This book will expand your trading knowledge as we dive deep into the world of programmed trading and advanced strategies for forex. The goal of my writing is to provide you with practical and useful trading information. There are no wild and unbelievable stories which is often what you and other readers will encounter in finance literature. I prefer to share interesting things that I have experienced while trading and provide an insight into how things really work.

      As an investor or trader you will at some point come across online posts which state best break out strategy. You will also find research articles and books explaining the average returns of various strategies and providing statistics on them. Now what if you ask yourself, do they work? and you then begin the testing process. As a trader it's important to know how the simulated results are calculated and you will also need them be as precise as possible. Let us proceed to test some different strategies and trading systems.

      NOTE: The format of the first three chapters is in the form of a trade adventure where a strategy will be introduced, tested, and then finally refined.

      Chapter 1: The Day Of The Week Anomaly

      Research has shown that stocks and other markets tend to move more on Fridays than Mondays. To test this my colleague and I gathered back-data from 2001 - 20016. We used an approximately 80/20 split where 80% was in sample and the remainder out of sample.

      Note: In Sample - Out of Sample: It is statistics speak which in most cases means using past data to make forecasts of the future. In sample refers to the data that you have and out of sample to the data you don't have but want to forecast or estimate.

      The Signal

      Forex was the main market for our test. To begin we had the issue with Daylight Savings Time which required that we offset the time settings. Then we needed to select which time of the day would be optimal for the trade, should we use the European, New York or the Asian session close. To keep things relatively simple we just bought on the open of the day Friday (European), and held the positions to the open of the next day.

      The Day of The Week Effect for Friday, we bought at 00.00 and sold 00.00 on Monday. This required that we had to take into account the gap (weekend), but we did not consider it

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