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  • #1

    Smart Trader



    Smart Trader is a semi automated system developed by an experienced full time trader based in India who goes by the name of Vijay.

    His system uses cross currency analysis coupled with elements of Elliot Wave theory.

    I've been watching him trade for the past week and I'm quite impressed with the performance and logical trading decisions.

    Please help me welcome Vijay (AKA Smart Trader) as he completes his trial here at LiveForexTrading

    You can view his Myfxbook statement here: SmartTradeReal System | Myfxbook

    My account: Smart Trader Nick's Account - ForexSignals.com
    Click here to check out the most popular forex channel on YouTube
    Tags: smarttrader
  • #2
    Hi Guys

    I am Vijay from Bangalore. Hailing from not so well known country for forex trading. I have around 5 years of experience. Worked as a software engineer and i like to code. a lot. Even now i think about a strategy and code it on my own and test it.

    Well, about this EA, this is basically a trend following EA. I have couple of indicators to give me the trend. Upside or downside. When the trend is filtered, the EA looks for dips/highs and the trades are placed. These dip and highs are calculated using basic elliot wave theory. And i use support and resistance levels (sometimes my own judgement) to book profits/losses. Proper MM rules are followed. i have couple of EAs to monitor the entire account, in which i can set the maximum DD tolerance and profit booking levels. And when there is a red flag, trading is stopped.

    EA does not set the profit levels as the upside or downside potential is never known. But after certain levels EA has stealth way of setting the trail stop. The stop is unknown to brokers or to the market. So basically the EA can work on its own but i still interfere with it. One part that i dont intervene is trade entries. That is purely based on the EA.

    Interms of no of trades per day or per week, you may not see a lot of activity on certain days. This EA is very watchful. There are days that it does not open a trade for one full week. So guys, analyze the performace of this EA on a monthly basis. Not daily and not weekly.

    I would like to thank Nick n Nick for giving me this opportunity. Hope i will make the followers successful to make myself successful


    The following are my recommended settings. You can edit these in your simple trader control panel
    Settings :

    MM(risk) : i do not prefer lot sizes but % risk. Talk to me, i am available most of the times
    slippage : 0 (it works with this system)
    Trade Management : Please leave it to me.

    Max DD : 20-25%. 25% being the cut off all the trades. Maximum DD occurred from the time i join here is 17%. But please expect a 25% max DD in the worst case scenario.
    Last edited by SmartTrader; 12-14-2014, 03:17 PM.
    Trade the market, not the trader

    Comment

    • #3
      Hi Vijay.

      Are you able to take your trade history off private on your myfxbook link for a week or so, so that I can analyze how each trade plays out, and what form of floating drawdown I can "expect".

      I need to be really picky from now on as i have copped 2 bad months in a row that have almost killed me. I want to be certain i know what i am getting into if I were to join. The myfxbook says 100% in 6 months. But that absolute gain is stated as more like 20% which is the number that I usually use to indicate how successful a system is. I find that the deposits/withdrawals can skew the top % rating.

      Comment

      • #4
        Sure BoozyBum, i will make it public now. You can analyze the history and take an informed decision. Its your right
        Trade the market, not the trader

        Comment

        • #5
          Great thanks. It is also handy to see what pairs you trade etc etc.

          Comment

          • #6
            Hi Vijay.

            Your system looks great and I am waiting for you to get "puplic". Just one question. In your FXBook the first 3 months, april/mai and june, you are getting 17-30% gain. But the last 2 months, august/sept, the gain is 4-8%. Still good. Did you do any changes to the risk of your system and what do you expect it to gain compared with earlier results?

            Comment

            • #7
              Hi HS

              Thanks for showing interest. As far as the trading is concerned nothing changed. First 3 months was great and i expect EA to perform the same way. Last 3 months was not so good. i am thikning this is the bad period for my system. and once things are back the system will give the same results as before
              Trade the market, not the trader

              Comment

              • #8
                Originally posted by SmartTrader View Post
                ...once things are back the system will give the same results as before
                Is your system able to adopt market changes? Can you set your system to be profitable if the market changes significantly and never comes back?

                Comment

                • #9
                  "The maximum risk for a basket of trades is 35% of account equity"
                  Uh: this is really huge...

                  Comment

                  • #10
                    Nick,
                    How much risk did you set in your account here: Smart Trader Nick's Account - LiveForexTrading.info System | Myfxbook ?

                    Comment

                    • #11
                      I setup SmartTrader to my account and copied a bunch of open trades, so I wait a little and closed them by hand. Fortunately with no loss.

                      Comment

                      • #12
                        Originally posted by Zoli71 View Post
                        Nick,
                        How much risk did you set in your account here: Smart Trader Nick's Account - LiveForexTrading.info System | Myfxbook ?
                        Hi Zoli,

                        I'm on standard risk. I don't think you need to increase the risk with this strategy. It's already quite profitable.
                        Click here to check out the most popular forex channel on YouTube

                        Comment

                        • #13
                          Originally posted by Nick View Post
                          Hi Zoli,

                          I'm on standard risk. I don't think you need to increase the risk with this strategy. It's already quite profitable.
                          No, I have not done that. I set the risk to 0.25 for the 10k account.

                          Comment

                          • #14
                            hi Zoli, no the maximum for the account is not 35%. It was initially for one week period, after that i changed the risk in two ways. Reducing the lot sizes by half and reducing the no of pairs traded by half. So the risk is reduced a lot. Consider this account risk as 20% of the account balance and trade accordingly.

                            For your second question

                            There is a certain level that my system thinks the opened trades makes no sense. this happens when the system confirms the trend is changed. so it closes the trades in loss. This system is not martingale and does not wait till it blows out or profit. There are money management EAs that are monitoring the account for maximum profit or DD.
                            Trade the market, not the trader

                            Comment

                            • #15
                              The Smart thing for a Smart Trader is to let HIS NEGITIVE TRADES TP before continuing to OPEN MORE..... This isn't what I expect First day getting hammered by USDCHF trades

                              Comment

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