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NFP - 7th September, 2012 |
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At the time of generating this report (Wednesday), there are no EURUSD trades on Synergy v3.2 - The last set of Long trades closed out booking some losses. This months report is being generated in advance since there are two key events for the week are ECB Rate Decision/Press Conference and Non-Farm Payroll reports. The market will try to price in sentiments ahead of their schedules. Synergy v3.2 trades significantly differently from the earlier versions - the main difference being the introduction of the concept of channels and trade reversals. To help members understand the system, we have provided details of the patterns based on which Synergy has traded from August till the September 4th. Only fresh trade triggers have been considered for the study (trade reversal / additional positions are not part of study) The trade setups are shown below:     Currently Synergy EA is having the channel pattern and will trade according to it - unless a new pattern is formed and takes effect. The bottom of the channel line may or may not provide support during major news event. The ECB Event and NFP data release could help the price decide on direction. The market will be driven by speculation and expectation prior to these two events - This could result in a bit of choppiness, and possibly good trading opportunities. Synergy EA is well suited to trade through news/data release events - the price action patterns usually capture the mood of the market quite well and the EA is able to trade these patterns successfully. We would recommend to let the EA run without break during the NFP or other news releases. |
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| How to switch off EA without affecting the trades or start up parameters? | ||
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Phibase Synergy is designed to be run 24x7 without break. Normal restarts and update related restarts should not adversely affect results. However, frequent restarts need to be avoided since the possibility of the EA missing out on the advantage of seeing longer term patterns are reduced. Some of our members have been seeking ways to safely disable the EA during certain days which they consider unsafe for trading. Our team have verified the following method to be the best option to disable Synergy EA's trading without having the effect of restarting the EA which affects its start up parameters. This option is okay to switch off the EA for a few hours or a couple of sessions.   The 'x' mark indicates that the EA is currently disabled - but still loaded in memory. When the Expert Button is switched ON, the Smiley face will appear again and the EA will start trading again from the next trade trigger. |
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| Recommendation for Back Testing and effects of downloading Meta Quotes data | ||
It is recommended not to download history data from meta quotes since the possibility of gaps in data are high (Normally done using Tools > History Center of your MT4 platform). If such gaps exist within a few weeks of the current bar, it may result in variation in indicator values used by the EA. In such cases, trades may differ when compared to other reference accounts. Ideally the MT4 platform used for trading the EA live or on demo should not be used for backtesting purposes. You can choose to have conduct backtests on a different MT4 platform on which you can download all historical data from metaquotes. PhiBase Synergy utilizes values from long term indicators that enable the EA to find the overall market trend and price action. PhiBase Indicators are based on H1, D1 and W1 time frames. Make sure your MT4 platform has a H1, D1 and W1 historical bars for at least 3 months. The recommended method of obtaining the required history bars is available in the user manual and also provided here below: Load a chart and change its timeframe to H1. Switch off the Auto-Scroll option on your MT4 terminal. Scroll the screen back by about 3 months. You can now change the timeframe to D1 - scroll back a few months and repeat the same for W1 timeframe. The time frame can be changed back to H1 and the EA can be attached to the chart. It is sufficient to do this when starting the EA initially. The MT4 platform automatically downloads the data after that. |
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| Disclaimer | ||
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U.S. Government Required
Disclaimer – Trading foreign exchange on margin carries a high level of
risk, and may not be suitable for all investors. The high degree of
leverage can work against you as well as for you. Before deciding to
invest in foreign exchange you should carefully consider your investment
objectives, level of experience, and risk appetite. The possibility
exists that you could sustain a loss of some or all of your initial
investment and therefore you should not invest money that you cannot
afford to lose. You should be aware of all the risks associated with
foreign exchange trading, and seek advice from an independent financial
advisor if you have any doubts. Clearly understand this: Information
contained within this course is not an invitation to trade any specific
investments. Trading requires risking money in pursuit of future gain.
That is your decision. Do not risk any money you cannot afford to lose.
This document does not take into account your own individual financial
and personal circumstances. It is intended for educational purposes only
and NOT as individual investment advice. Do not act on this without
advice from your investment professional, who will verify what is
suitable for your particular needs & circumstances. Failure to seek
detailed professional personally tailored advice prior to acting could
lead to you acting contrary to your own best interests & could lead to
losses of capital. *CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN. By using PhiBase Synergy, you acknowledge that you are familiar with these risks and that you are solely responsible for the outcomes of your decisions. We accept no liability whatsoever for any direct or consequential loss arising from the use of this product. It's to be noted carefully in this respect, that past results are not necessarily indicative of future performance. |
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2012 | www.Phibase.com | All rights reserved.
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