ElectroFX – Half Man – Half Machine
Trading robots have a bad name because most of them simply don’t work, or they were designed specifically to work with only the current market conditions in mind. The internet is riddled with these “amazing creations that cost only $300 and will make you fortunes” right? I’m sure you have seen them in numbers. What most people seem to neglect is that the market is organic in nature; it is driven by human emotions and reactions, volatility varies and it is not possible to create a mechanical trading machine that will work consistently on an ongoing basis unless it can adapt and react.
Here at ElectroFX we took a very different approach to using technology to our advantage. It has been a long step by step process in determining if full automation is even possible. I still remain skeptical in fact but I do see the possibility as I work with the EFX team to program and create. What we will be doing is using our Organic timeless WavEFX charting system that automatically adjusts to the current market volatility and therefore addresses the issue mentioned above. The results in back testing are amazing but I don’t put much faith in it, I am more interested to see how this will work in real time . As a manual trader I can “see” so much more than an EA can, with extensive programming though we believe we can take a lot of the required information into account. More updates on the full automation to come as we approach completion this month.
What is amazing right now is that during the creation process of this EA we have actually created a separate version of the EA that will alert the EFX VIP group to potential entry patterns that are setting up. This is generally something that can happen 3-5 times per day and although not all actionable alerts, they have proven to be the only time one really needs to even look at the charts. After a quick look and analysis it is possible (through VIP WavEFX training) to understand if you would like to enter the trade or not. Using another EA the trade can be entered and managed in an intelligent manner, emailing you at various junctures during the trade that you can pre-assign. This step in the EFX journey has truly united man and machine for the purpose of manual trading with minimal time and effort. Literally minutes per day is all that is needed to take advantage of trades visible anywhere from the daily chart down to the more intra-day style timeframes. By working your way down the relative waves of movement taught in WavEFX you can keep things very safe even at an equivalent M15 level. The beauty of WavEFX is that you can see all of this with just 2 charts. Simplicity at it’s finest.
To summarize my current trading “job” here is my step by step process. Wait for an email alert on one the pairs I like to trade, take a look and analyze for a few minutes to see if I wish to enter, hit a hotkey and wait for the next email alert to make my next decision. That’s it! By using the EFX trading server I can do all this from my iPhone, desktop or laptop depending where I am and what I am doing.