Every year in the UK, numerous farms open their fields for the public to pick their own strawberries – probably happens in many other countries as well– with signs outside: “PYO Strawberries”. It’s quite a good business model: rather than employ farm workers to pick the fruit, invite the customer to do it for themselves.
The customers decide before hand what they need, grab a basket or two, survey the field and set about picking the strawberries that are at the perfect ripeness – not too ripe mind you - discretely eating a few free fresh ones along the way. It’s a simple job: check a plant, if no strawberries move to the next; if strawberries meet the quality criteria then pick. When done picking, the picker pays by the punnet and returns home content. They don’t attempt to take every strawberry in the field home with them and didn’t once get upset for passing a plant that didn’t have fruit that met their requirements, even if there was nice fruit hidden away.
Successful Forex trading is like PYO strawberries. Rather than paying professionals to trade your money, you do it yourself. Using the simplest possible method, you seek out the nicest looking trades, take as much you need and move on. You wouldn’t feel bad for leaving a field full of good strawberries behind or if you dropped a few along the way; so, you shouldn’t feel bad for not getting the whole of a move that you’ve traded, or even missing out on some trades.
Retail traders often struggle with leaving the fruit behind; they feel they must take every trade on offer and get every single pip (there’s the strawberry link again) of a trade; rather than just look for the best trades and be happy with a nice return. Instead of congratulating themselves for a trade well-executed according to their rules (regardless of outcome) they berate themselves for not doing better by getting all of a good move or winning all of the trades on offer; heaven forbid they should ever lose some trades. The result: more losing trades, lost faith in the method and more time spent wandering aimlessly around the field looking for the best way to pick the fruit. On the other hand, the wise seasoned traders, with a simple and consistent approach, have congratulated themselves for a job well-done and gone home happy - they don't care if they didn't get as much as someone else..
Trading is about making a profit – that’s the sole reason we do this. You don’t need much to achieve that goal: a trading plan for a simple system, realistic goals for returns and a good splash of discipline.
Pick your own strawberries and enjoy them; there will be more to pick tomorrow.
A bread-and-butter way of trading with eWH is the Wave 4 Trendline Break (W4 TLB), We see some great examples across all timeframes every week and this week was no exception - just check USDJPY M15 on the 4th of January: offering over 200 pips.
I'm creating a course on trading with eWH (which I hope to complete in less time that it took me to code it) and since W4 TLBs are such a big feature, thought it might be a good idea to add the module on it as a freebie with all eWH licence purchases.
For those of you who already have eWH, you can view the W4 TLB module on the same page as the manual (link from the eWH download page) . It's short and to the point - no need to make these things complicated - but with a few examples from this past week, to help you realise just how powerful a setup it can be.
Festive Season Greetings to you All
After far too many years in development and testing, eWavesHarmonics (eWH) is now available to purchase.
eWH incorporates everything that I use for trading, so I need no other indicator to make informed technical trading decisions; on any timeframe. The Beta users have given terrific feedback about the tool, reporting some superb trades. If you’ve been bogged down with cluttered-screens and too many indicators, you should find eWH to be a game-changer.
Click here for more info: http://www.for-exe.com/ewavesharmonics.html
Here's just one example from the H1 charts this month ...
I wish you and your family a very merry Christmas and an amazingly successful 2017.
All the very best to you
Update ... after posting the above, one of the dedicated eWH users sent me this pic: his trade today.
Do you need to change your chart settings on a regular basis? Does the adding or changing of an indicator's settings seem tedious when having to apply to every open chart? For me, the saving of a template and applying that template to countless charts is just mundane; especially with all the charts that I have eWavesHarmonics running on for Forexsticks.com.
Mundane no more ... I've made a script called 'Template All'. Set one chart up with all the preferred settings; drag the script on to your chart; enter the name of your template (or leave the default); all charts to the right will have the same template applied; charts to the left will remain unchanged.
I like it and thought you might too, so have added it to the 'free' section. Help yourself
By the way.., I will be on holiday for the first half of December. Whilst I will check emails from time-to-time, please allow a bit more time than usual for a reply. eWavesHarmonics v1.0 will be made available when I get back.
eWH performed very well this week on the H1 charts.
One of the many features of eWH is the automatic alert on a W4 trend line break (TLB). Traders who took the early-week signals and held the trades (ATM would have managed them nicely using the T-Frac button once in profit) would have had much to celebrate.
eWH shows a bomb symbol when there is a TLB: green for long; red for short. I've added the blue arrows to point out the trades after using the 'Test' feature to show how the signals would have appeared at the time.
EURUSD H1 ...
USDJPY H1 ....
Needless to say, we don't get such great moves every week but you want to be in them, as early as possible, when they're there.
There are still a few Beta licences left (at a very discounted price) for traders with current News EA/ATM licences.
There has been more than a dozen updates since the first beta version of eWH was released and it's pretty close to being the finished product now. Initially made available to owners of the Snorm News EA,, the beta version is now being made available to owners of the Advanced Trade Manager (ATM) - for new customers and old; at a very discounted price.
Releasing eWH in stages, as a beta version, has allowed me to get some very valuable feedback without being inundated with questions. So, thank you to all who have contributed to the recent developments.
I'm hearing some incredible stories of success from eWH users who have previously struggled with their trading. One trader had an outstandingly profitable five days of trading, last week and had been sharing his trades with me, at the end of each day: terrific results and just from trading one setup that eWH has alerts for (it is my favourite setup and the easiest to trade).
I will likely keep offering the beta version for another few weeks; maybe even until later in December (I'm taking a long-overdue holiday in the first two weeks of December, during which time I will need to suspend sales)..
You might want to take advantage of the beta offer before it's gone. Don't have ATM already? Well treat yourself to that as well. Like many ATM users, I couldn't imagine trading without it :)
Click here to read more about eWavesHarmonics
The Beta version has been released - initially it's just limited to customers of the Snorm News EA. The final version, or first of the final versions, should be out in a month or so, if the Beta testing goes well. Development will continue thereafter.
Everything that I use for trading has gone into eWH. Whilst I seldom trade Harmonics Patterns, they're an occasional nice-to-have, for that extra bit of confluence with entries, stops and targets, so basic pattern recognition is included as a free add-on, particularly for those of you that like HPs and can trade them better than me. I will do some more work on the pattern recognition in time.
For more information go to: http://www.for-exe.com/ewavesharmonics.html
When you listen to the news, be it national TV or specialist channels such as Bloomberg, you will usually hear that a particular instrument - be it an index, commodity, forex pair, etc. – has gone up or down by x percent on the day. Percentage gains and losses are easy to understand whereas pips can be relatively meaningless, if you don’t know the price of the instrument and what its typical daily movements are.
So it’s rather surprising that I never hear any retail traders refer to percentage moves on the day. The percent levels probably act as well as pivot levels in terms of support and resistance. A gain or loss of just half or one percent, from the opening price, can be quite significant and prove to be the ceiling or floor of that day’s move. With the help of an indicator to plot the percentage levels and some basic candle analysis, a trader can find some nice trading opportunities, as this example shows (a random period on Dax M15 with just some of the possible quick trades).
Just for the fun of it, I thought I’d see how fib-based percentage moves might look. Here is a period on GBPUSD with 38.6, 50, 61.8 and 78.6 percent levels.
It’s easy to check what the typical daily percentage moves are on any instrument, using the ‘History Centre’ in MetaTrader. Select the instrument and daily timeframe; ‘export’ to a csv file; add your own excel calculations to get the percentage difference of high and low from the open. With the help of a pivot table you can quickly see, for example (using 1,555 bars), that 62% of the time, the high and low on the Dax is at least half a percent from the open. About 34% of the time, the high and low will be one percent or more. Only nine percent of the time there has been two percent or more gain but twelve percent of the time there has been a two or more percent drop.
You’re more than welcome to have a play with the percent level indicator – just download it from the Free Indicators tab. This isn’t some magical indicator that will necessarily guarantee improved trading results but you might find it of some use. It has the option to work with yesterday's close price, today’s open or the market open hour of your choosing. You can of course customise the percent levels as you prefer.
The main thing is that percentage moves on any instrument are something to be mindful of. Would you go long on the Dax when it has already moved one percent up on the day, knowing that, according to history, there is only a 1 in 3 chance of price going higher?
You would not believe just how many times people use the ‘contact us’ form to ask that question about eWaves.
I’m not sure that many understand what ‘repaint’ really means. I believe I understand why they ask the question though: they’ve been scammed by buying useless buy/sell indicators and are only asking about the repaint because they think eWaves might be a buy/sell indicator. Well, it’s not. If that’s what you’re looking for then carry on buying rubbish from scammers.
eWaves is a very simple approach to Elliott Wave analysis. Do Elliotticians re-plot their wave counts as new price data comes in? Of course they do. Wave counts are not confirmed until they are completed; and so it is with eWaves. Where eWaves might see a wave 5, new price data could come in that turns that 5 into a 3. At some point, what was a wave 5 will disappear off the chart and a new 5 will later appear. Similarly, a wave 4 of an uptrend could turn into a big wave 3 in a down trend. eWaves is constantly looking at the last 140 or so bars. As a new price bar is formed, the oldest bar is ignored, and so on and on. So the answer to the question is:
OF COURSE IT DOES! IT WOULD BE USELESS IF IT DIDN’T.
Like many newbie traders in the early days, I wasted far too much time and money looking for the perfect buy/sell indicator, or combination of indicators, that would elevate my trading success. Even if there are good buy/sell indicators out there that I don’t know about, they are unlikely to tell you how to manage your trade: where to put your stop loss, where to take profits, how to trail your stops, etc. I will bet my house that even after reading this blog post, newbie traders will still carry on wasting their hard-earned money on scam trading systems; buying buy/sell indies from crooks who not only don’t trade, they don’t know how to. The internet is awash with these scammers who only make their living by selling shit to gullible people looking for a quick route to untold riches. If you're one of those gullible wannabe traders, then feel free to ask the scammers if their indicator repaints - I'd be surprised if they even bothered to answer your question, honestly or otherwise.
More than a decade after discovering Forex, guess what I use for trading? Clean charts and eWaves (apart from my News EA of course). You do not need a plethora of indicators cluttering your chart to trade successfully; you only need price history.
By the way, I’m really hoping to release the next version of eWaves soon. It has been years in development – with other projects taking priority along the way. A few friends are trying it out for me and I have a few little glitches to fix. A beta version should be available next month, with a limited release initially to my News EA customers.
As a nice little wrap-up, here’s eWaves in action on GBPUSD monthly, showing how you could have made over 4000 pips trading eW4 to the (yet to be hit) automatically plotted TZ1 (first target zone) of eW5. Let’s see if it gets there ...
In the middle of 2014 someone (quite well known and respected in Forex circles) approached me with an idea for trading the Forex news. I was somewhat sceptical at the time but wrote a version of the Advanced News Trader EA anyway. His approach was largely based on fundamentals e.g. if the USD is strong then only look for long $ trades. Whilst there was some merit in that logic, it soon became evident to me that the fundamentals were just a distraction: it didn’t really matter whether the traded currency was strong or weak; news moved price full stop.
By the middle of 2015 I had doubled my own trading account, trading various red news releases with numerous different settings, up to several times a week. With that success, the EA was polished up and tweaked to allow for traders in all time zones. In Jul;y 2015 the first copies were made available to some of my trader friends.
Not a month has gone by since where I haven’t received kind words of thanks from users of the EA, from all over the world. There have been instances of traders making 25% profit on a single news release; 10 to 12% profit is not at all uncommon. I have doubled my account again this year, and we’re only just in to August. My initial risk each way: just 1%.
I know of no other method of trading Forex that so frequently generates profits like this; particularly in such a hands-off way. Anyone who is a member of the AIMS Skype Group will have seen first-hand the sort of success being achieved by users of the EA: it’s a major talking point with results and charts being shared by the happy traders. Here are the trades that increased my account by 12.78% with NFP on Friday …
Some traders are using ATM to good effect to manage the trades opened by the News EA – moving SL to BE or trailing stops. I prefer a simpler approach and just let the EA work its magic. Sometimes I close trades out manually, if I happen to be in front of my charts and have set extended TPs. When I’m not around to watch the trades, I just set realistic TPs and let the EA do its thing. We’ve had a terrific August, with UK and USA news – phenomenal! It’s a great feeling to open the charts and see the trading account has increased by a sizeable percentage without having the stress of placing and managing trades.
I’m not sure if people think it’s too expensive or not. I made much more than the cost of the EA just from my last news trade; and that’s with a relatively small account. I’m not the only one either, some made 5 x the cost of the EA on Friday. However, if you do think it’s too expensive for your budget, I will do you a deal. Open an account with GKFX by clicking on the GKFX logo on this website; use that for trading the news; I will give you a third off the price: £200 for a one-year licence, instead of £300. I’m not into marketing and spamming. You won’t see this being advertised elsewhere. Only readers of this blog and my trading friends know about this Forex News Trading robot.
So if you don’t already have the Advanced News Trader EA, why don’t you do yourself a favour?
Spiros S - Greece - trading with GKFX CFD account ...
"I came across News Trader EA late 2015. Frankly, it is the best tool I have used. And the most rewarding one. I have created a separate MT4 account that trades only major news and market open with News Trader EA. Since April, this account has grown by more that 80%. Trully a remarkable trading tool. I would strongly recommend it to anyone who takes trading seriously."
Billy McC - Scotland - trading with GKFX SB account ...
"Snorms News Trader has quickly become the most reliable pip producing tool i have available. I set it once a week to trade the news i want and let it do its stuff, which it has done consistently to the tune of between 15% - 30% return every single month since i started using it seriously at the start of 2016.
As soon as you realise that not every red news event should be traded and only concentrate on the news that really moves the market then this tool comes into its own and its almost like printing money yourself.
I only wish i took it more seriously when i bought it originally back 2015, but hey, you can learn from my mistake :)"
Immy Y - iTradeAIMS.com UK - trading with GKFX SB multiple accounts
"I have been using Steve's fantastic Advanced News Trader EA for just under a year now.
And my results so far look to be about the same as his - on course for doubling the account every year.
Steve is a good friend of mine and we have both been looking for something that works, just like the rest of you. Steve is on a mission.
Steve is not your average coder or a wanna be trader. He's been at it for a
long time now. He has found a method that works. I am not very much surprised
to see that he's decided to share this great method with the rest of the world.
Because Steve believes in sharing. He cares for others and that's exactly what he's doing.
Its so effective that experienced traders wonder if we could get Steve to take it off the market.
My reply is generally the same as Steve. "Just trying to help others do better"
If you are looking for a method that works. A method that requires very little attention
and time yet very reliable then look no further. You've found it. I urge you to seriously
consider this as a golden opportunity and do not wait. Life does not always offer such
opportunities. A wise person would snap it without delaying. Our biggest enemy is our
tendency to over complicate things and procrastination. Take action Now and take advantage of this fantastic offer.
Thanks Steve ever so much for this great piece of coding and the "concept" behind it. Its simply
A-M-A-Z-I-N-G. I love it.
Here is a link to my live account Nov 2015- Aug 2016 81.3% Growth so far...
Kyle S -Tasmania - trading GKFX CFD account ...
"I purchased my annual licence for Steves news Trading ea back in October last year, and to be honest, it is the amongst one of the best decisions I have made as a trader. The total amount of time required to use this very simple ea is minimal. Literally just minutes each month. It is the prefect tool to choose and trade what we call the CDLC events (Crème De La Crème) such as NFP, FOMC and interest rate announcements. I have had similar results to Steve, gaining double digit returns in each of the last three months, including this month, which at the time of writing this is only 9 days old. Cannot recommend this high enough. I am happy to share my past news results to offer as proof.
For the sceptics – and I am not Steve, but this is what I think of the usual questions. Why sell it? He has a genuine desire to see others do well. It is not like selling the ea will hurt his own trading. If that’s so, why doesn’t he give it away? I personally see the price of the ea is to stop the people attaining a copy, and flooding him with questions that a simple bit of research will fine, and it does show that the trader purchasing it is actually serious about using it. Let’s face it, how many free indicators have we all got that we do not use.
I do not believe there is a “Black Box” solution available to us to trade the markets with consistency, however, Steves News Trading ea is the absolute closest thing I have seen to it. Just a small decision by us to trade the news announcement, set the time for the ea to do its thing and simply walk away from it, allowing it to do its thing for you – or you could hang around to watch and possibly manage the trade after it takes off. All up to the end user, but it will honestly be the best decision you will ever make in regards to buying an ea."
Grant H - England - trading GKFX SB account ...
"I was always taught to never enter on red news events. How wrong was that advice.
With Steve's unbelievable coding skill I now have the perfect tool (EA) to trade the sometimes highly volatile news releases and to make it even better I do nothing but set it up and watch.
News has never been more fun to trade."
Snorm trades only with GKFX and has no hesitation in recommending them, for tight fixed spreads and quick execution (even during NFP, from personal experience).
Open an account here