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Forex Trading Robot – IvyBot  

I don’t know about you, but I remember when my father used to work double shifts at his job in a synthetic rubber factory, trading shifts, working stock, putting himself on autopilot, working like a robot.  He worked way too hard to make better futures for his 4 children, wife and himself.   All his family really wanted was him not more currency.  He’d be exhausted but couldn’t wait for that pay check and when that check came it was quite a disappointment.  All he did was get broker and broker and broker.

He’d work and work, double shifts, any extra shifts he could, but the harder he worked the less money he came home with because it would put him into a hight tax bracket.Dad needed and expert adviser to help him see that all the extra work wasn’t worth it. 

Working hard was what his generation did.  Now don’t get me wrong I’m not saying there is anything wrong with working hard, but there wasn’t a choice then, we have a choice now.Forex robot trading. IvyBot

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The most successful floor traders are those that have the most experiance, this is no coincidence at all and should be a pointer for those who aspire to become a good trader. Day trading can be likened to being a sportsman, such as a golf pro or tennis champion, you need to be trained and in good physical shape. Skills are needed which must be developed over time and practiced until they become 2nd nature. If you want to learn how to day trade you must be prepared to put in the effort. Here are a few of the key skills that you must develop as a trader.

1. Technical analysis can be used for futures as well as the more standard stocks, options and bonds that most people trade. This can give you a large edge over other traders who have not taken the time to study the charts support and resistance areas, trendline and patterns. Learning technical analysis is really a must do if you want to trade futures successfully.

2. This is a very basic point but is very important, always have your trading plan prepared before you enter a trade, never try and create it on the fly, you will be much too emotional. Make sure that you have an entry and exit point in your plan.

3. Keep your losses small!, this is the one thing that every trader must do if they want to stay in the game for a long time. By doing this you will preserve your capital allowing you to trade another day. Your small gains will compensate your small losses allowing your big wins to give you an overall profit

4. Over trading is a big mistake that a lot of amateurs make. Professionals tend to be more patient and wait for the better opportunities to come along, this is called cherry picking and takes both patience and discipline. These are must have skills that you must develop.

5. This is a big day trading tip, it is important that you track all your trades and review them to see where you are making the mistakes. This is quite hard work, but this is what separates the professionals from the amateurs. Unless you do this you will keep on making the same mistakes. The best way to do this is to keep both a daily and weekly log.

6. Only trade when you are both physically and mentally prepared. This is often overlooked but is very important. Do you think a golf star can win a game when they are tired and mentally not focused?, it’s unlikely. Being prepared means getting a good nights sleep, having your trading station and charts well prepared before the market opens, taking the time each and every day to review your trading plan and rules. Finally you must have the mental frame of mind and confidence that you are going to be successful today in your trading.

7. If you are new to trading futures make the effort to paper trade until you are very confident that you are going to make money. You will know when you are ready because you will start to hate paper trading knowing that you could be making real cash profits on a consistent basis.

Remember that the markets only trend for about 20-35% of the time, the rest is either sideways or very choppy, if you want to do trend trading to win you must be fully prepared when the opportunities arise.

An interesting thing has happened in the last 6-8 weeks.  There are almost no sellers.  Literally.  The market has made a massive push and it really struggles to sell or stay down.  It seems almost funny how bad it is to try to short for more than maybe 20 minutes at a time.   Obviously you cannot fight the market - its doing what it wants how it wants.This action sure makes trading hard, the guys that are really getting the most out of it are the buy and hold.

One thing I know is that no matter what these guys do that are chasing and then bidding the market so it does not sell - it will sell eventually.  The only way you actualy make money, whether day trading or longer term investing, is to  lock in profits.Until then, its not reality.  At some point they will tip the tide to the point where a majority are actually fearful of losing gains and then the selling is real.

A key pattern lately has been to break below support and then out of nowhere a massive burst of buying jams the market back to the highs.This sort of thing happens so often now, its completely expected.Most of the time this results in a new low being made, followed shortly by new daily highs as the buyers chase like crazy.

Even when the economy was plowing along at full steam, we would have 10-15% corrections all the time.   And this was when everything was just perfect (or everyone thought so).Because of this I am not sure what is actually going on.  Several theories are in play that I think about:

1. Shorts are completely or mostly out of the market.  The SEC messing with the short rules before caused a panic, and now there are many proposals again in regard to uptick rule and shorting.  Rather than get caught, they are staying away from day trading and longer term positioning.
2. Manipulation factor on high.There is a group of funds or banks backed by the Fed and Treasury whose goal it is to push the market higher to form the opinion that the economy has turned.  The way the rescues happen like clockwork, the ramps into the close every friday, and other very odd trading behavior gives this some credence imo.  Would be easy for the government to just give these guys money to push the market up.
3. Traders are mostly gone, and computer algorithm trading takes over.  This one can happen as well - computers have taken over more of the futures trading which drives the market.  Since there is no real force to fight them and they are all doing the same thing it just keeps going.  This one I like too because the actual variance of price during the rally pushes is actually uncharacteristically low most of the time.I have seen the DJIA futures push up almost 100pts in 20 minutes with hardly a retrace at all, even at the high.  Sure this happens - but not this often as it does now.

Whether any of these are true, or a combination, I have no idea and we may never.  All I know is the trading action is very odd and I expect at least half if not more of this gain to be gone when this is done.Note that I am not predicting a top in the market, I am simply stating that what goes up almost always goes down - and the down is usually painfull.The market could hit 9.000 or 10,000 etc.  I really dont think 10k is possible, with GM dust, C is dust and a few others they just dont have the fuel for the DJIA to actually push up that high in the short term.

Maybe everyone just needs to learn to trade again – this is the new market to stay!

Everyone wants a shortcut to learn day trading or any other kind of short term trading – someone to teach them the “secret sauce” that will take 10-20 years of experience and allow them to come up to speed in a few months. If you needed brain surgery, would you want the guy who got his degree online in 6 months OR the guy who spent 10+ years in med school + residency + specialization? Is that even a fair question?? Well, lucky for you trading is harder than brain surgery… well it can seem like it at least. In reality there are some easy things everyone can do to dramatically increase the chances of winning and decrease the learning curve - but do not expect a single, easy secret that will solve all the issues and make it easy. That is learned. The key to winning is doing things that will cause you NOT TO LOSE.

First off, you really need to treat  day trading as a profession. This means act like its a real job and your only way to make money. You will need a dedicated computer for trading only, with 2 monitors - a single monitor cannot show enough data. Older computers are fine for some things, but do not try to use an older computer that is underpowered for trading. I can assure you that computer will fall behind of the task. There is nothing worse than data that falls behind (lagging) as you cannot tell where price is actually at. Trading is super data intensive, make sure you have a computer with at least the following specs:

1. A minimum dual core chip, ideally you want a quad core chip. Each core can run a separate app, really lessens the chance that the computer will stall out. Make sure the chip has a decent amount of L2 cache. If you dont know what this is, ask a local computer nerd, they will help you.

2. A minimum of 2gb of memory, the more the better, and the faster the better. If you want more than 4gb you will have to use a 64 bit operating system. Make really sure before you do this step that whatever software you plan on using is compatible. As far as memory goes, you should be fine with 2-4gb. The faster the memory the better, but no need to really pay up for special memory.

3. a separate, discreet graphics card from AMD or Nvidia. Make sure the card can handle at least 2 monitors. You do not need a high end gaming card, you should be able to get something decent for about 100-150 bucks easy. Do not use thebuilt in graphics on the motherboard - they are really cheaply made and are underpowered. Running real time charts and quotes is very graphics intensive - there are hundreds, and sometimes thousands of things that need to be presented in real time.

You only need this on the main computer you will be trading on and doing your charting. You want 1 dedicated screen for order entry and 1 screen for charting. If you have older computers, those are fine to use for surfing the net, checking news, IM chat and other stuff. I would always keep your trading computer as uncluttered with add on applications as possible. You do not want to be in the unfortunate predicament of the computer crashing or locking up during a trade.

Just like a real office, you need a dedicated space that will serve as your trading center and workplace. It needs to be setup no different than a desk in a normal working environment - phone, lights, supplies, computer, printer etc. Remember to succeed, you really have to treat learning trading as a real business, not some kind of hobby. A hobby is fine, but you cannot expect to become an expert unless you treat it seriously. When you are in a trade or watching a setup to enter, don't let outside junk distract you. This means chatting on the phone to friends, watching tv shows, and doing other things while “kind of watching” the market. If this type of behavior would not be acceptible in a normal office, it will not cut it for trading either.

Once the office is setup, it is time to get serious about how learning the in's and out's of the market. While this blog is a great source of information, you really cannot expect to learn everything for free online. Go to Amazon.or other sites like Trader's Galleria - search for the term "charts" or "stock charts". You want a beginning book and an advanced book on charting. In order to learn about trading, you have to figure out the mechanics of price movement and become and expert at charting. This can and will take some amount of time, and is not easy. But as you get more proficient, it becomes much easier to add new ideas and concepts because you have the background framework to understand them.

Expect learning charts to take about a year to get good, but in a month or 2 you can get a good start. Again, do not fall into the trap of thinking “if I throw some money at this, someone will show me secrets and shortcuts”. If you don’t have the background to understand, no amount of shortcuts will help you at all because you have no clue about how or why something might work or not work. DO NOT ATTEND ANY SEMINARS OF ANY KIND until you consider you have mastered the basic charting book on your own. When you think you are ready for the advanced book, then you can consider attending a seminar to learn more. Again here there is no substitute for experience. Every day you have to plan time to watch the markets live, even if its just for an hour or two - ideally for the whole day if possible.

You really need to watch it live AND go over static charts after the market has closed. If your time is impacted because you have another full time job and cannot watch the market here is a secret: Get some screen capture video software (records your screen to video) and an external usb hard drive, probably 500gb will do. Open your charting program, log it on and set up a few real time charts on the screen before you go to work. Set up the recording software to save to the external usb hard drive. You can set up a macro (there are free programs out there that can do this, search Google) if you are not home when the market opens. Set i to record at least an hour of video of the market open and any charts you have open. At night you can then replay this recording in real time (or even speed up time) and watch for chart patterns to learn from. If this does not appeal to you, some of the brokerage firms or data vendors have market replay that can replay parts of the prior day for you.

One last thing I have not touched on yet - charting software. There are tons of them out there. I have my own preferences, but that does not matter. You need to find what you are comfortable with. Some programs are very complicated, some are simple to use, and yet others will let you code custom indicators and trading systems. From the start, I would suggest that most people go with simple. What good is having 500 things you have no clue what they do or how they work?? All that can do is to lead to confusion and add a bunch of things that are too complicated. Just make sure its a fully robust charting package – meaning all charts are live, you can put tick charts AND minute based charts up (not delayed data, live data) AND its not web based. By web based, I mean it runs in a browser rather than a dedicated, loadable program. You want a standalone program - not only are they more stable by far, they offer way more speed and flexibility. You do not want web based order entry (browser) for active trading, its just too slow - you need real time profit and loss and the ability to watch positions in real time. Its simply too slow to be of any use. Web based applications and software are totally fine for buy and hold and longer term investing type trading. Winning at trading is about time, even 5 seconds delay can cost you 50c or more per share in lost profit if the market is moving fast. That cost is real and can result in a winner turning into a loser.

While this was not a tutorial on how to trade, I tried to touch on a few subjects often overlooked when people are trying to learn to trade. They overlook these because they either cost money (charting software, real time data, computers) or they think they take too much time so lets find a way to skip this or that part.

Some costs of doing business are fixed costs and must be bourne in order to be in business. If you are a trader, data costs and charting package costs are one of many. Often you can get them minimized or waived if you are active, but for probably the first year expect to pay for them as you are learning.

When I started trading Forex markets, I quickly realised that fundamental analysis was not for me, but interpreting charts and their patterns was something I was much more comfortable with. Search ‘Technical Analysis’ on the web and you will be swamped with what’s available, but after much digging and researching I found Top Dog Trading.

What made me decide to take this course to learn Forex trading?…. A number of things besides the desire to trade better and to stop depleting my trading account with losses; was that I understood what Dr Barry Burns was saying on his website and much or the instruction is reinforced on a large number of videos which makes it much easier to understand and see what he is saying. The other essential criteria for me is the qualifications of the teacher and creator of the teaching materials. Barry’s CV is superb, a business man who trades professionally, he is also a highly regarded speaker and writer.

So I signed up for his free 5 video course to see if I felt good about his analysis systems.

Leading up to this, I had already done several other courses on technical analysis covering Forex trading but still did not feel confident in my analysis that would minimise my trading losses, all this changed once I came across Dr Barry Burns, now I am comfortable with the trading strategies I have learnt.

Having completed Barry’s courses I have not only learnt how to trade his methods but also embraced a far deeper understanding of the Forex market & the charts but more critically the money management and personal attitudes that are such an important part of becoming a profitable Forex trader.

In his courses Barry details the analysis rules simply and clearly, then gives upto date chart examples with all their un-predictable moves showing how to make the rules work profitably. This is all achieved via an expansive selection of videos.

Barry teaches methods, which when stuck to, provide a good ratio of wins to losses with tight control on the losses, so when one does a trade that goes against you (which all traders do) the financial pain is not too severe.

Barry’s tutorials are the best Forex trading courses that I have found and I would strongly suggest that you give his FREE course a go. This freebie has 5 videos that walk you through some of the most powerful trading material I’ve ever seen.

I have completed the course, loved it, and gained a vast amount from it and have gone on to Barry’s more in-depth courses. My wish to learn Forex trading will never again produce the losses of the past.

Test out the Free Course for yourself:

Query ‘Technical Analysis’ on the web and you will be inundated with choices, but after much digging and researching I found Top Dog Trading.

On starting my foray into trading Share markets, I realised that fundamental analysis was out of the question, but analysing share charts was what I preferred.

What made me decide to take the Top Dog Trading course to learn Share trading?…. A variety of things besides the overwhelming need to improve my trading and to halt my run of losing trades; was that I quickly grasped what Dr Barry Burns was saying on his website and most of the training is explained on the detailed videos which makes it much easier to follow his chart interpretations. A further qualifier was Barry’s CV; it is what I wished to see, a business man who trades professionally, he is also a highly regarded speaker and writer.

So I started with his free 5 video course on learning to trade to see if I would feel comfortable with his techniques.

Before this, I had completed several other courses on technical analysis covering Forex trading but cannot say that I really gained the understanding of share trading that would allow me to be successful, all that has change having met Dr Barry Burns, I now feel confident that I can make the business of share trading a success.

With Barry’s courses I have not only learnt how to trade his methods but also developed a far deeper knowledge of the Share market & the charts and probably more importantly the money management and personal philosophies that are essential to becoming a profitable Share trader.

In his courses Barry explains the principals simply and clearly, then gives upto date chart examples with all their un-predictable moves showing how to make the rules work profitably. This is all done via an expansive selection of videos.

Provided you follow the principals Barry explores, you will end up with a very profitable ratio of wins to losses with tight control on the losses, so when one does a trade that goes against you (which even the best traders do) the hurt is not too great.

Barry’s tutorials are the best Share trading courses that I have found and I would highly recommend that you give his FREE course a try. This course has 5 videos that ease you into some of the most powerful trading material I’ve ever come across.

I personally took the course, loved it, and learned a lot from it and have progressed to Barry’s more advanced courses. My wish to learn Share trading has turned out to be very profitable.

Explore Barry’s Free Course for yourself: