By Ivo Luhse, Robot Trader & Founder of Evestin Forex
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While manual trading still has its place, the future belongs to automated trading. However, a good robot manager aka 'Robot Trader' is the key to having to correct balance between a trader and a machine. This is not a about Human VS Robot but rather Human + Robot. Both have a very important role to play. A good robot trader is needed to take the advantage of the automated trading. Moving onto robot trading is natural progression each trader will need to recognize if he is to succeed in this new world of trading.
Listed below and the 5 main reasons why you need to seriously consider robot trading if you want to be a successful trader.
Reason #1 Gives confidence in trading strategy
Since you can run very detailed backtests for your trading strategies and trade ideas any guess work has been taken out of trading. You can fully rely your trading decisions on probabilities and statistics. No more trading on “Guru” recommendations.
Back in 2012 when I started to learn the candlestick trading strategy (the strategy Satoshi robot trades) I felt frustrated with my lack of confidence sticking to the strategy when trading it manually. And while my mentor who thought me this strategy provided his full strategy and gave me his recommendations it was only when I build my first robot to do automated backtest I could use this strategy effectively. I had finally a statistical proof that this strategy works. On black and white, I had the proof that this strategy has an edge. This was my eureka moment and I have never looked back. Now I have full confidence in all my trading systems I trade because I have statistical proof they work.
Reason #2 Removes emotions
Since you’re not in the heat of the moment trading scenario anymore (you are not taking the trades anymore), using robots drastically reduces stress in trading. If you find hard to follow your own rules - trading with robots will be a game changer for you.
Reason #3 Promotes discipline
Ties in the with the rule above about emotions. A trading robot will do exactly as it was coded to do and will not deviate from your trading rules or risk parameters. This will make you a better trader and make you stick to your own rules. After all, if robot can do it, I can do it too.
Reason #4 Robot runs 24/7
A trading robot will trade while you sleep. The robot will never get tired or need a holiday. When trading manually a break off trading is a must to recharge and switch off from the market. The problem is holidays cost a lot of money. I remember feeling stressed and trading from my laptop in case I miss something. Now when I go on trips I enjoy them 100 times more because I know my robots work for me 24/7 and are paying for my pomegranate martinis 😀 It is one of the best feelings ever to go on a holiday and still make money.
Reason #5 Double, triple of even quadruple you trading income.
Since your robot runs 24/7 and you no longer need to sit at the computer to take the trades, you will have free time to learn and develop new trading strategies. With manual trading, you can only trade one single trading strategy at best. Since building my 1st robot (Satoshi) I now have gone and build another 3 robots and looking to build a new robot every year. This has drastically increased my trading income something I would never be able to do trading just one trading system manually.
Start trading with robots today, do not delay it. I promise you, You will never look at your trading the same way again. And you never know one day you might build your own army of robots.
To your trading success,
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Ivo Luhse is Forex trader who started out, as so many traders do, as a discretionary trader. Now? He wouldn't even call himself a trader, despite the fact he makes his living trading. He describes himself as an asset manager with a number of employees. And every one of those employees is a robot.
Ivo's journey is one that all traders are going to have to make eventually. It's not a matter of embracing complexity, in fact, it's just the opposite. He uses simple manual trading systems but he lets the robots do the work. He just manages them and the money that they are using and making.
We all heard that you should treat trading as a business. But not many actually understand what it means.
He cites the analogy of a burger shop. He has bots flipping the burgers - he's the manager looking after the money and checking up occasionally that the bots are making the burgers properly. And with the new advances in machine learning soon different bots will be managers of the bots flipping the burgers.
There’s still time to get an early advantage – but move now.
Even a trader as sophisticated as Ivo hasn't been doing robotic trading that long. He started to build his robots in early 2015. After the birth of his daughter, he realised that he doesn't want to sit at the computer screen all day long and wanted to spend as much time as possible with the new family. So his started to build robots based on his manual trading strategies. He currently has four bots working for him each with is own unique trading strategy. This approach lets Ivo diversify his trading portfolio and achieve consistency in any market phase.
In every market, traders are making the same journey and turning to automated trading to give them coverage and consistency that is very difficult to achieve as a human being.
It's extremely difficult for us not to hop from one strategy to another, particularly when we encounter trading difficulties and losses. But automated trading is far less emotional and can help you improve your profits by removing the heat from the trading scenario.
The whole market is moving this way and it's important to give yourself the benefits of an early advantage by getting involved now with automated trading using robots.
When you look at hedge funds vs quant funds. Technology driven quant funds are on a good run and are outperforming its discretionary counterparts. Quant funds are also the biggest hirers, but there are no jobs for discretionary traders. Funds are looking for the smart, analytical people right out of undergrad with strong math, computer science or engineering skills.
If computers can beat world champion chess players, shouldn't they be able to beat the traders on Wall Street?
Eventually, the time will come that no human investment manager will be able to beat the computer.
Ivo trusts the algorithms and strategies that are built into his automated trading robots. He has fully stopped his discretionary trading and has his sole focus on managing and developing automated systems.
But it took him some time to arrive at this point. At first, he found it difficult to let the robots do their job because it involved a loss of control - a bit like the business owner who takes on some employees but doesn't believe they can do the job as well as he can. Most traders will probably have the same problems to begin with and will need to move towards fully automated trading somewhat gradually.
It's clear that he moved towards robotic trading in a spirit of humility, learning what he needed to learn and wanting to move towards a mode of trading that was calmer and more rational. However, Ivo believes that in the next 20 years asset management of robotic traders is what will make money in the markets and that discretionary trading has no future.
A different kind of trading day.
Traders like Ivo who are using automated trading systems check their robots 1 to 2 times a day to make sure that they are opening the trades correctly. Scanning charts, looking at indicators, fundamental analysis and all the other paraphernalia of traders have become a thing of the past – the software does it all.
With apologies to the revered Mr Graham, that may all be about to change. With machine learning, robots learn everything and forget nothing.
Already now Ivo uses testing robots that 24/7 scan the incoming price data and look for best settings for the current market conditions. While he still needs to manually input these settings for his trading robots, soon manager robots will be able to do this automatically from the data they receive from the tester robots and tracking robots.
A fully automated machine learning and trading process — trades taken by trading robots, settings set by manager robots, ongoing testing done by test robots and live trades monitored by tracking robots.
A huge wave of automation is coming.
This move towards automated trading is part of the new wave of intelligent robotics which will profoundly change the world of work and affect all jobs and professions where human intelligence is used to collect, synthesise, analyse and act on information. The changes will be dramatic and many people are simply unprepared for the scale of what is about to happen.
So far, most people's idea of a robot has been of a machine with limited intelligence that does something physical in response to a set of instructions. What we are now seeing are robots that inhabit the virtual or digital worlds and act autonomously using our money, and resources. We will allow them to take decisions and act for us in the future because the evidence will plainly show that they take better decisions than we do. They will teach our children, diagnose our illnesses, manage us at work.
Robots will become socially intelligent and will be networked into complex interactive social and work systems.
The current push is to develop sentient robots – those who do not merely have artificial intelligence but who have self-awareness, or consciousness. Which of course means, that they would be capable of loving or hating but also that they could be taught ethics and a sense of right and wrong.
in terms of trading robotics, one of the great advantages of robotic trading systems is that they are not subject to the emotions and pressures that afflict human traders and can lead to fear, greed, overconfidence and the classic "revenge trading" reaction to a sudden loss.
Speaking in MIT Technology Review, Hod Lipson, an engineering professor at Columbia, who heads the Creative Machines Lab, pointed out that people used to think that technology would destroy some jobs but would create better ones to put in their place. Lipson says the evidence now is that yes technology is destroying jobs and yes it is creating better jobs as well. But unfortunately, it's also creating fewer jobs. And this may cause all sorts of problems in the future as people find they need skills they don’t currently have, in order to get a job.
Technology, particularly robotics, is coming towards us like a large wave. It's up to us whether we grab our surfboards and get on top of it, or just watch it fearfully until it breaks over us.
When it comes to trading, we do at least have a choice. Why not start by dabbling a toe in the water - trying some automated trading in part of your portfolio and seeing how you get on?
You may find that you start to see yourself much more as an asset manager and much less as the hapless person flipping the burgers at the beachside bar.
To try Ivo's trading robots 30-Days for FREE click the bottom below
By Ivo Luhse, robot trader & founder of Evestin Forex - Follow me on social media:
Why do we make the claim that our trading robots have character?
It’s because our trading robots use real manual trading strategies professional traders use. Unlike a majority of automated trading systems (trading robots) that are created with lagging indicators and past price action (fitting the price curve), our robots have been coded to trade manual trading systems I’ve personally been trading with since 2012.
The trading strategies we use for our robots are not the latest new thing. In fact, they’re tried, tested and true – manual trading strategies that have worked for decades well before Evestin Forex robots where created. All these trading strategies work with or without automation. All we’ve done is taken these trading strategies and automated them so anyone can use them.
Thanks to automated backtests we now have a solid statistical proof that these strategies have an edge in the markets. This gives us a huge confidence to trade these strategies removing any guess work and emotions from trading. You can rely all your trading on probabilities and statistics. This is a very important aspect of trading. As and engineer I struggled to trade just on my mentor's recommendation. I needed a statistical proof that his strategy works. This is when I started my journey into Automated trading by creating a robot to do automated backtests for me.
And the rest, as they say, is history. I now trade only using robots and have build 4 robots I trade with today.
I’m going to lay out a detailed explanation of all 4 of the trading strategies my robots use below.
Some people on my team said I was crazy to expose my trading strategies. However, I’m like Richard Dennis, the creator of famous turtle traders, when he said the following:
By providing a detailed explanation of the trading strategies our trading robots use, I believe is the only way you’ll be comfortable trading them and have the confidence to stick by them even during the rough times.
Meet our robots
Satoshi robot trades using Japanese candlestick patterns. I first learned about Japanese candlestick patterns from my mentor Andrew Mitchem
I immediately saw the great potential in trading using candlestick patterns, as they gave me easy to spot visual clues about the market’s direction.
Candlestick charting first appeared sometime after 1850. Much of the credit for candlestick development and charting goes to a legendary rice trader named Homma from the town of Sakata. It is likely that his original ideas were modified and refined over many years of trading eventually resulting in the system of candlestick charting that we use today.
There are more than 30 different candlestick patterns but this is not a lesson about candlesticks. All you need to know is that Satoshi trades only the four highest probability reversal patterns:
Hammer - Bullish reversal pattern
Shooting Star - Bearish Reversal Pattern
Bullish Engulfing - Bullish Reversal Pattern
Bearish Engulfing - Bearish Reversal Pattern
For these patterns to be valid, the market has to be in a clearly definable uptrend/downtrend…even if it’s a short-term trend.
To define a trend, Satoshi uses Bollinger bands and will only take reversal patterns if they appear at or near the Upper Bollinger band for Sell trades or near Lower Bollinger band for Buy trades.
Unlike the Stock market, the Forex market rarely trades in strong trends. This makes the Japanese reversal pattern strategies an ideal fit for the Forex market.
It’s common to see the price bouncing from the Lower Bollinger band to the Upper Bollinger band and back down once more. Majority of these bounces will be picked up by these 4 patterns - Hammer, Shooting star, Bullish engulfing and Bearish engulfing
For entries, Satoshi uses Limit orders at an 80 percent retracement of the setup candle. This comes to a rounded Fibonacci retracement level of 0.786.
This is a happy medium between a good Risk:Reward Ratio and missing out on possible profitable trade.
Stop Losses are placed below the setup candle for Buy orders and above the setup candle for Sell orders.
Satoshi divides its entries into three parts to attain the most profit the market is willing to give us. Stop Loss and entry price is the same for the three orders, but there is a difference in Take Profits.
• TP1 - 120% extension of the setup candle
• TP2 - 160% extension of the setup candle
• TP3 - 220% extension of the setup candle.
These levels are rounded Fibonacci numbers and also coincide with daily pivot point Support/Resistance lines S1/R1 for TP1, S2/R2 for TP2 and S3/R3 for TP3.
We trade Satoshi on four major currency pairs and Gold on Daily charts.
While other cross currency pairs can be added, we stick with just the major pairs to avoid correlation. (Most days cross pairs and major currency pairs will produce very similar trades)
What to expect from Satoshi robot
- On average 5 trades per month split into 3 parts.
- Average Win rate of 60%
- Average Risk : Reward ratio of 1:1.13
- Positive expectancy 0.28R
- Average trade length: 5 days
Backtest results (2011-2017) risking 2% of account per trade
- Average yearly profit: +22%
- Average monthly profit: +1.8%
- Maximum Drawdown: - 10.4%
- Profit factor: 1.7
Satoshi robot stats
The Forex market is unique in that it trades 24 hours a day. Before trading closes in New York, the market in Sydney reopens - 24 hours of market trading, five days a week. It closes down only for the weekends.
After more than 10,000 hours of chart watching, I noticed the market open Monday morning has specific, predictable price action.
It generally retraces against the move from the week prior, if the currency pair had a strong one directional move through the whole previous week.
This is due to profit taking that is happening after such a strong move and because traders in Asia are cautious in taking any large positions before the market opens in both Europe and the U.S. They typically wait for these markets to provide them with the direction the market is going to take for the week. It’s why Mondays tend to be very different than other days in the market. Gunner uses this market phenomenal with amazing success.
Gunner can take up to 2 trades each Monday from these two currency baskets:
- Basket Nr1 - EUR base pairs (EUR/USD, EUR/JPY, EUR/CAD, EUR/AUD)
- Basket Nr2 - GBP base pairs (GBP/USD, GBP/JPY, GBP/AUD, GBP/CHF)
The only downside of trading during the early hours of market open is the larger spreads and market gaps. This is why it is very important to trade Gunner robot only with our recommended brokers. Other brokers can have very large weekend gaps and weekend spreads of up to 30-50 pips making this strategy untradable.
What to expect from Gunner robot
- Most weeks 1-2 trades on Mondays
- Average win rate of 65%
- Average Risk:Reward Ratio of 1:1.2 (initial R:R 1:05)
- Positive expectancy of 0.45R
- Average trade length: 1 day
Backtest results (2010-2017) risking 2% of account per trade
- Average yearly profit: +19.2%
- Average monthly profit: +1.6%
- Maximum Drawdown: - 3.0%
- Profit factor: 2.34
Gunner robot stats
Fey is the most special robot with an extraordinary trading strategy.
She uses the W.D. Gann modified Astro-trading strategy, a practice that relates to the movements of celestial bodies to events in the financial markets.
The idea, Market Wizard W.D. Gann had, was when the Moon or any celestial bodies like planets and stars moved into a new cycle, it could have an effect on people’s minds and, in turn, affect the financial markets.
This is especially true if the price had a strong trend when the moon changes cycles, as it tends to mean the trend can stall or even reverse.
I am not an expert on W.D. Gann’s strategies, but this method was provided to me by a fellow trader who has spent a lifetime studying W.D.Gann. With his permission, I’ve automated this strategy. I was quite sceptical at the beginning. But it was easy for me to test this strategy out since I just had to alter the moon cycle times to some random times. It was my surprise when all the random times generated negative results while the correct moon cycle times generated great profit year after year.
Fey is like Satoshi in that she uses Bollinger bands to determine the trends. She trades on the EUR/USD currency pair since it’s the most traded currency pair in the world and has the best effect for this strategy. She doesn’t make a lot of trades per month – one to two on average. The win rate (~36%) is low for Fey robot so you need to be disciplined and patient when trading this strategy but the Risk: Reward Ratio is very good, up to 1:5 so it is very rewarding when Fey delivers these extraordinary high rewarding trades when you least expect.
What to expect from Fey robot
- 1-2 trades per month
- Average win rate 36%, with most trades closed for Break-even
- Average Risk:Reward ratio 1:5
- Positive expectancy: 1.16R
- Average trade length: 1 day
Backtest results (2010-2017) risking 2% of account per trade
- Average yearly profit: +8.6%
- Average monthly profit: +0.7%
- Maximum Drawdown: -4.1%
- Profit factor: 2.84
Fey Robot Stats
Cable is our newest addition to our portfolio. Cable robot uses the liquidity contracts between the quiet Asian session and the very active European session. While you can trade the Forex market 24 hours a day, not every hour in the market will be the same. The Forex market has 3 very distinctive trading sessions Asian (or Australian) session, European (or London) session and US (or New York) session. And each of these sessions will have different activity levels for different currency pairs due to the local currency supply and demand, international trade routes and central bank locations.
The two Currency pairs that you can see the biggest differences are GBP/USD and EUR/USD These two currencies will be very quiet during the Asian session and typically trade in a tight range as there is just no demand for these currencies in Asia. But then in the European session, these currency pairs are the most traded and very active. If you ever heard of London breakout strategy you will know what I'm talking about. Cable robot uses a variation of London breakout trading strategy. But instead of looking for breakouts Cable robot trades reversals in the Asian session 2 hours before London open. The idea is that since there is no demand during Asia for these currency pairs any breakouts before London session will be reversed.
Cable robot is our most active robot taking trades nearly every day. However, Cable robot needs good activity during European trading sessions so if there is no activity (moves smaller than 100 pips) Cable robot will be paused until the high activity in the markets is back.
What to expect from Cable robot
- One average 1 trade per day when Average Daily Range on EUR/USD and GBP/USD is above 100 pips.
- Average win rate 75%
- Average Risk:Reward ratio 1:0.6
- Positive expectancy: 0.2R
- Average trade length: 2 hours
Backtest results (2010-2017) risking 2% of account per trade
- Average yearly profit: +9.3%
- Average monthly profit: +0.8%
- Maximum Drawdown: -4.5%
- Profit factor: 1.76
Cable Robot Stats
Robot Dream Team
While every one of our trading robots is an excellent trading robot based on a solid, proven and tested real life manual trading strategy. The real magic happens when you place all of them in a single portfolio to trade on one account. Allowing robots to work in a team spreads the risk, reduces the drawdown periods and improves the returns.
When market phases change from trendy to range-bound markets your robots will perform differently and if you only trade a single trading strategy or a single robot you can endure prolonged drawdown and stagnation periods until the market phase changes again to favour your one trading strategy or one trading robot. But if you trade with multiple robots, like we do here at Evestin Forex. Each with totally different trading strategy, each with its own strengths in different market conditions. This robot dream team will cover for one and each other. If one robot is underperforming under certain market conditions other robots will make a profit.
This is the real secret how professional traders spread the risk across multiple trading strategies and achieve the consistent results with controlled risk. Don't make a mistake many traders do by placing all your eggs in one basket or trying to predict market phases in advance. No-one can predict the market! Creating a portfolio of multiple robots to diversify your trading will ensure consistent growth in any market conditions year after year.
Evestin Forex Portfolio of Four robots Backtest results (2010-2017) risking 2% of account per trade
- Maximum Drawdown: -10.2%
- Longest stagnation period: 133 days
- Probability of a losing month: 20%
- Largest profitable month: +19.5%
- Largest losing month: -5.5%
- On average 20 trades per month
- Average win rate 68%,
- Average Risk : Reward Ratio 1:08
- Positive expectancy: 0.25R
- Profit factor: 1.91
- Average yearly profit: +59%
- Average monthly profit: +5%
Evestin Forex Portfolio stats
TRY EVESTIN FOREX ROBOT PORTFOLIO ON YOUR OWN ACCOUNT
Try our 4 robots on your own Live or Demo account for FREE. We give full unlimited 30-day Free access to our trading robots and our servers. Come and check how our trading robots can change your trading. I'm sure you'll Love them.
To your trading success!
By Ivo Luhse, founder of Evestin Forex - Follow me on social media:
Here is my GBPCHF trade analysed candle by candle.
One of the keys to successful trading is you got to be aggressive when your call is correct.
This way you can build good trade into a massive trade.
Now, you are not going to find these trades every week, but once every month or two, trades like these are going to make massive profits for you. This is the only way you can survive in this game. Most of the trades will be small losers or small winners, but then BOOM, you get trade like this that will make your whole month or even a quarter.
On August 16, 2016 I’m looking at GBPCHF Daily (D1) chart. I see a nice long-tailed pin bar bouncing of lower Bollinger band (LBB) and last support level around 1.2520, suggesting a potential double bottom pattern. (I've marked this support level weeks in advance, after the pair created new lower low on July 6)
I like this pin bar, but I’m also looking at GBPUSD and GBPJPY on the same day. I prefer the GBPUSD Engulfing bar and GBPJPY cleaner pin bar over this GBPCHF pin bar.
It’s a close call, but I pass on this.
In hindsight, even if I would enter this pin bar, I would probably gotten out with break-even trade after the opposite pin bar on August 16. (Just to note, my two trades on GBPUSD and GBPJPY that I choose over this pin bar got stopped out, each for 1R loss)
On August 19, I see another pin bar that shows that this support level 1.2520 is holding. Since it’s Monday, I wait for the market open to make my final decision. (I want to make sure there is no weekend gap. I would pass on this trade if it gapped past my entry point). There is no gap, so I’m happy to place this trade.
I use BUY STOP orders 3-5 pips above the signal candle, as my projection is that - if price breaks above this pin bar, it has high probability that it will continue to rise. My entry price is 1.2587
I typically place my Stop Loss (SL) around 30-40 pips below signal candles close or around 50% retracement of the signal candle. In this case 1.2530 is my SL price for total of 57 pips.
I don't like to use large stop loss as, if my analysis is correct, I would anticipate the price to move sharply in my favour. If the price lingers around and stays near close price of the signal candle, I would be out of this trade anyway.
I look for a take profit (TP) areas within the last swing highs or opposite Bollinger band. There are no real worry signs till we get to 1.3000 mark. Still that is more than 400 pips away, so I decide to split my order in two parts and take some profit around the swing high from August 8, that looks inviting.
To sum up my orders are:
On August 22, we have good strong Engulfing candle closing above the previous pin bar from August 18. This is a good sign and I like this. My first trade is in more than 50 pips in profit and there is good close on the Engulfing candle. I’m moving my SL to break-even (BE) on my first 2 orders and placing 2 new orders above the Engulfing candle at 1.2655
I don’t take any extra risk, as I have moved SL to BE on my first 2 orders. I place my SL for my second orders at 1.2595 (60 pips).
I still like the same Take profits (TP) and keep them for these orders too, TP1 @ 1.2795 and TP2 @ 1.2980
To sum up my orders are now:
On August 23, we have another clean bullish candle. There is nothing really in the way to reach my first target of 1.2795 that worries me, so I’m happy to go again and buy of the break of this bullish candle at 1.2717
My SL is 1.2675 (42pips) for third set of trades.
I’m moving my SL on existing positions to 1.2645 This locks in around 50 pips profit. At this point I can’t lose money even if my third set of trades get stopped out for full loss.
I keep the TP the same.
To sum up my orders are now:
On August 24, large bullish candle goes and hits my first target. $$$ The fact that price has hit the swing high from August 8, and retraced a bit from highs. And also that we had 3 strong bullish days in row, make me pause a bit, as I expect some stalling in this rally.
I move my SL on my existing positions to 1.2695, locking in some good profit.
To sum up my orders are now:
On August 26, after inside bar day before, we have a new bullish engulfing candle. I’m tempted to take this too, but I’m discouraged that it it did not close above the swing high from August 8. Finally the weekend gap puts me off this trade completely.
I’m passing on this and just moving all my SL to 1.2745 locking in some nice profits
To sum up my orders are now:
On August 30, we have new Engulfing candle closing above all the highs. Not a single thing in its way to 1.3000 major round number now. I like this and place new BUY order at 1.2890.
(If you’re bit more aggressive you could have taken the breakout of the inside bar on August 29, but I passed on this mainly because price hadn't cleared the swing high from August 8, at that point.)
I place my SL@ 1.2845 (45 pips) and my TP is the same 1.2980 (90 pips)
At this point I have moved my SL on my existing positions to 1.2790
To sum up My orders are now:
On August 31, we have good strong bullish candle I like, but I don't enter new orders as we’re to close to my final profit target at 1.2980 The risk:reward (R:R) ratio is just not good enough to take this on. (I always look for minimum 2:1 R:R ratio)
I move all my stops to 1.2845
To sum up my orders are now:
It is September the 1st. I bring my daughter to her first day at pre-school. I check my phone (I get trade notifications from MT4 app) and BOOM - UK manufacturing PMI come out much higher than expected and as a result my final target at 1.2980 was hit for a massive trade and a massive profit. Few more trades like these and my daughters college fund is ready :)
To sum up my final orders look like this:
Total profit 15.2R never risked more than 1R.
Total profit 1497 pips if you're into counting pips.
Who said August is bad month for trading?
With a smile,
by Ivo Luhse, founder of Evestin Forex - follow me on social media:
No matter how experienced you are in the world of Forex, you are in it to make the most out of your investments, and what better way to do this than to follow in the footsteps of the trading superstars. There are a number of Forex mavens who are willing to share their wise advice, and while we encourage you to learn from any established trader, some stand a good head and shoulders above the rest. Here, we give you a glimpse into the lives and successes of the top 5 Forex traders of all time.
George Soros was born into the Hungarian Jewish Schwarz family, and in 1936, his father dropped the Jewish surname as a means of protection from the Nazis in Europe. He changed it to Soros, meaning 'successor' or 'will soar' and this became Soros' life philosophy. This business magnate is one of the world's 30 richest people, and is known as 'The man who broke the Bank of England'. This is because in the UK's 1992 Black Wednesday currency crisis where the Treasury lost over £3 billion, his sharp wits and business acumen led him to make $1 billion in profit. However, success was certainly not handed to him on a plate. In 1947, Soros gained admission into the London School of Economics, and to support himself, he worked as a waiter and a railway porter. After graduating, He continued in similar roles while his passion for finances motivated him to apply for jobs at every merchant bank in England. Finally, he was offered an entry level post at Singer & Friedlander, where he worked alongside a colleague with associations in New York. Soros moved there to work as a trader for FM Mayer. This opened up the floodgates for him to gain experience and create his own investment funds. As well as sealing his reputation as one of the top traders of all time, Soros is well-known for his philanthropy and his co-authoring of numerous books in which he shares his knowledge and experience as a businessman and trader.
Stanley Druckenmiller started his financial career at Pittsburgh National Bank, during which time he founded his own firm, Duquesne Capital Management. He later went on to become the Lead Portfolio Manager of George Soros' Quantum Fund. Druckenmiller left that position after 12 years in order to concentrate fully on Duquesne, which gave an average annual return of 30% with no money losing years. In 2010, Duquesne was closed, because despite containing more than $12 billion worth of assets, Druckenmiller felt that the return on investments was too low. Along with other financial achievements and capabilities, an expert trading style, which he learnt from Soros, has certainly paid off for this now retired hedge fund manager. Druckenmiller is currently estimated as being worth $4.4 billion, which has allowed him to become one of America's most generous individuals, and he has a reputation for donating to medical research, education and anti-poverty movements.
A multi-talented New Yorker, Bill Lipschutz gained a BA in Fine Arts at Cornell as well as an MBA in Finance. Lipschutz became a hobby investor when he was a student. He would spend his free time researching stocks and shares, and in his early days of trading, built up an impressive portfolio of $250,000. One wrong decision and a change in the market meant that he lost his money, although the resilient Lipschutz turned the scenario to his advantage by using it as a learning experience. His investment skills were recognised at a Salomon Brothers training programme, where Lipschutz was asked to join their new foreign exchange department. It was at this time that forex trading took off, and Lipschutz started earning $300 million a year for the Salomon Brothers, making him one of the top 5 Forex traders of all time. Lipschutz founded Hathersage Capital Management in 1995 and he stresses that his financial success, which continues to this day, is very much due to an emphasis on risk management and an awareness that Forex is a 24-hour platform that does not stop while we sleep.
Bruce Kovner is yet another extraordinary New Yorker, as well remembered for his basketball and piano playing skills as for his business capabilities. After studying at Harvard where he worked on a number of political campaigns, Kovner became a cab driver. It was during this time that he discovered commodities trading, which set the stage for a lifetime of financial achievement. Kovner's first trade in 1977 was a risky one in soybean futures contracts. The $3,000 that he borrowed using his MasterCard paid off as the contract value increased to $40,000. He sold the contracts only after the price had dropped to $23,000 and to this day, he says that that harrowing experience taught him about risk management. Kovner went on to become a trader at Commodities Corporation, and then founded and chaired the diversified trading company Caxton Associates, LP. At the start of 2012, Kovner founded CAM Capital as the platform on which to manage his investment, trading and business activities. As well as chairing this organisation, he sits on the Boards of Synta Pharmaceuticals and various arts committees such as the Metropolitan Opera. His trading experience gives him a net worth of $5.3 billion.
Andy Krieger has always displayed a flare and passion for finance and entrepreneurship. After doing his undergraduate degree at Pennsylvania University's Wharton Business School, he worked as a currency trader at Bankers Trust, where he had his lucky break. In 1987 at the age of 32, while most investors were panicking over the Black Monday crash, Krieger kept a cool head and turned the situation to his advantage. While all the world's currencies had suffered, Krieger noted that the New Zealand Dollar, also known as the Kiwi, was in a stronger position. He took up a short position against the Kiwi that was worth hundreds of millions of dollars, so that his sell orders exceeded New Zealand's actual money supply at the time. Krieger made $300 million in revenue from this transaction, much to the concern of the New Zealand government who tried to persuade his bosses to make him stop. He left Bankers Trust soon after to work for George Soros and then Northbridge Capital Management. He is another great philanthropist who has donated over $350,000 to support the Indonesian tsunami victims.
As well as making your investments increase, markets will always experience crashes, and what the top 5 Forex traders of all time have in common is a will and a determination to turn even the worst situations into cold, hard cash. Where others panic, they calmly analyse, and when others give up hope, they jump on emerging opportunities. They also take risk management very seriously and when their precautions as well as their risk taking pay off, they share their income with those in need. While they have made mistakes in their time, these men prove that all situations and experiences ultimately lead to great successes, which makes them an inspiration to those of us inside the world of forex trading.
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Financial Trading used to be an exclusive elite club – only a few lucky ones could join. There were guys on the trading floors shouting and screaming all day long – making and losing fortunes. This has changed with all the advances in modern technologies.
Trading floors are empty and exchanges are closing down. Most trading is now done electronically using automated strategies. And, thanks to the accessibility of vast resources through cloud services, it’s far easier than ever to share these automated strategies with everybody.
Join the hundreds of new part-time traders using our robots… today!
Manual Trading is a thing of the past – Automated Trading is the wave of the future!
The Forex market is vast – the largest market in the world with more than $5 trillion traded on a daily basis, compared to the futures market that trades a mere $30 billion every day. All this liquidity means orders can be executed with little to no slippage and there’s always someone willing to take the other side of the trade.
Around The Clock:
Forex is the 24-hour market – around the globe trading. No waiting for exchanges to open. Trading begins at:
- 5 p.m. EST for the Sydney market
- 7 p.m. EST for the Tokyo market
- 3 a.m. EST for the London market
- 8 a.m. EST for the New York Market
Before trading closes in New York, the market in Sydney opens up – 24 hours of market trading.
Buy or Sell Makes No Difference:
Unlike the equity market, there is no restriction on short selling in the currency marketing. Trading opportunities exist in the currency marketing regardless of whether a trader is long or short or whatever way the market is moving. Since currencies get traded in pairs, it always involves buying one currency and selling another. Therefore, there is no structural bias to the market. This means you always have equal access to trade in a rising or falling market.
Many brokers offer high leverage, which means you can start trading with just a few hundred dollars. Although we don’t recommend using more than 1:100 leverage and start with $2,500 if you’re a beginner.
Forex trading strategies can be easily replicated on large or small account. It does not matter do you have $2,500 account or a $1 million account, you can trade the same trading systems and expect the same order fills and same account growth.
Try Automated Forex trading for yourself with 30-Day Free trial
Money management is a critical part of our trading systems. In fact, this is one topic you should really understand if you’re going to invest in our trading robots. There’s no "holy grail" in trading, and there is the possibility of losing trades. Period.
Therefore, you must prepare yourself for this. All of our trades have a predefined STOP LOSS price that will kick in automatically if the trade doesn’t work like it was projected to.
Our robots calculate these Stop Loss levels automatically – the only thing you’ll need to do is set the risk per trade based upon your risk tolerance:
- Conservative: 0.5% per trade. (Max Drawdown expected: 5%)
- Average: 1% per trade. (Max Drawdown expected: 10%)
- Aggressive 2% per trade. (Max Drawdown expected: 20%)
If you get this part right, you’ll be one step ahead of other beginner traders. With the correct money management system, you’ll be able to survive drawdowns and raise again – this is how winning is done. No one will tell you this if you’re a beginner.
Join 100's of new part-time traders using our robots…
The first thing you need to know is that our robots are not like other robots. Most trading robots have been created using past price action and lagging indicators. Then robots performance is optimized to fit past price action. That’s why you see amazing past performance results on many sites.
What happens when these robots trade live? They go bust!
That’s because these robots are curve-fitted to trade with past price action and fail miserably when they trade with a new unpredictable price action.
In contrast, our robots are not based on past price actions. Rather, they’re based on real-life manual trading systems. We’ve taken three successful real-life trading systems as used by professional traders for many years. And automated them, so everybody can use them.
This is why you can see our robots only make a few trades each week. They scan the markets like pros, looking for the best signals and trading opportunities. Our robots don't use martingale, grid, hedging or high leverage. Instead, they mimic pro traders and risk a small percentage of your account per trade.
It’s like having a professional trader trading your account… except it’s better!
"Real Trading - Real Results"
Investor mode allows you to access our robots, just like it would be with your own trading account. Your are free to browse around and get familiar with our robots and trading terminal. You can see all our Live trades and check our historical trades.
Don't worry, Live trading is not allowed in Investor mode, so you will not be able to open or close any trades.
1. LOG INTO OUR SERVER:
Once you log into our server, you’ll see eight charts that are preset with our robots:
- 5 White Daily charts for EURUSD,GBPUSD,USDJPY,AUDUSD,XAUUSD is for Satoshi EA
- 2 Grey Weekly charts for GBPAUD,EURAUD is for Gunner EA
- 1 Black 1 min. EURUSD chart is for Fey EA
On the bottom of you screen you have terminal window. Here you can see current Live trades. To see historical trades - choose Account History tab.
To see all the account history - Right click anywhere in Account history window and select ALL history.
Don’t worry if you don’t see any Live trades. Unlike the majority of robots, our robots don’t make trades all the time. That’s because our robots are closely aligned with manual trading systems. We don’t use grid, martingale or other high-risk strategies.
The approach lets us control the risk, ensuring consistent profits over months and years. We average one trade per day, although it’s not uncommon for no trades to be made in a complete week. It’s all dependent upon the market. For us, less is definitely more.
2. LIKE WHAT YOU SEE?
If you like what you see, try our robots 30-Days for Free on your own account.
It is important that we all get the same signals and same trades. Different Forex brokers can have different prices, spreads, time zone settings or high latency. This can lead to false signals and different trades on your account. For this reason we strongly recommend you open Forex trading account with the same brokers we trade. We trade only with strongly regulated, highly reputable and trusted Forex brokers. If you want to get the same trades - use the brokers below.
Choose your broker based on your location:
- Trading platform: MT4
- Account Type: Standard Forex trading account
- Leverage: 1:50
FOR CLIENTS IN UK (FCA Regulated In UK)
FOR CLIENTS IN EUROPE (MFSA Regulated In EU)
FOR CLIENTS IN UNITED STATES: (NFA regulated in US)
Account Type: MT4 Oanda-V20
FOR ALL OTHER CLIENTS (ASIC regulated in Australia)
STEP 1 - Get to know your Trading platform.
The first thing you need to do is become familiar with the MT4 trading platform, the world’s most popular, user-friendly trading platform. Most of it is fairly straightforward… easy to understand even for first-time users.
We've installed your MT4 trading platform and the robots on our Evestin VPS to assist with the easy setup. All you need to hit the “AUTO-TRADE” button found on the top toolbar. AUTO-TRADE needs to be activated at all times in order for our robots to make trades. If disabled, they cannot do this. Be sure this button is on as it is turned off automatically if you switch your chart profile or trade accounts.
Also, remember that your MT4 trading platform needs to run 24/7 on Evestin VPS for robots to trade. Ensure you never close down the MT4 trading platform on Evestin VPS. Only exit the remote connection to Evestin VPS once you have activated the robots.
Before you get involved in the Live market, partake on a demo account. If you want to open a $20,000 Live account, then you need to open a $20,000 demo account. You won’t have false expectations by doing it this way.
If you’d like to learn more about the MT4 trading platform DOWNLOAD MT4 USER GUIDE HERE
STEP 2 - Download the MT4 Mobile App
Once you’ve activated the robots on the Evestin VPS, we suggest you download the MT4 mobile App to your smartphone. This is a handy way in which to watch your trading account. Go to your App Store and download the MT4 mobile app. Log in to your trading account using the account number and password you were given by your broker.
You can even setup real time notifications sent directly to your smartphone when trading robots open/close trades. To learn how to do this READ THE INSTRUCTIONS ON MT4 WEBSITE HERE.
STEP 3 - Get to know the trading robots
Don’t worry if you don’t see trades for several days. Unlike the majority of robots, our robots don’t make trades all the time. That’s because our robots are closely aligned with manual trading strategies that look for only high probability trades. We average one trade per day, although it’s not uncommon for no trades to be made in a complete week. It’s all dependent upon the market. For us, less is definitely more.
We use a portfolio of different and unique trading strategies that each has it's own strengths. Some with high Win rate, some with high Risk:Reward ratio. This approach lets us spread the risk and limit the drawdowns, while at the same time ensuring consistent profits over months and years in any market phase. Trendy or range bound, rising or falling markets.
It is important you know what are the trading strategies robots trade. This is the only way you will have the confidence to trade them when going gets tough. Start by reading the e-book below.
STEP 4 - Understand the Risk.
Money and risk management is a critical part of success in trading. In fact, this is one topic you should really understand if you’re going to trade with our trading robots. There’s no holy grail in trading, and there is the possibility of losing trades. Period.
Therefore, you must prepare yourself for this. Our robots use professional risk management system risking only a small % of your account on each trade. All of robot trades have a predefined Stop Loss price that will kick in automatically if the trade doesn’t work like it was projected to. Our robots calculate these Stop Loss levels automatically – the only thing you’ll need to do is set the account % risk on each trade based upon your risk tolerance:
- Conservative: 0.5% of your account per trade. (Maximum Drawdown expected: 5%)
- Average (default risk setting): 1.0% of your account per trade. (Maximum Drawdown expected: 10%)
- Aggressive: 2.0% of your account per trade. (Maximum Drawdown expected: 20%)
STEP 5 - Think in probabilities and long-term success.
Don't use 30 day trading results to decide on your subscription as such a short time trading period is nothing but random.
Professional traders are not worried about the next trade winning or losing. What they care about is making money long term and grow their trading account over time. They want to maximize their profits by playing the mathematics – by thinking in probabilities.
We look at probabilities on a large trade sample sizes over 3 months, 1 year and 5 years. Statistics and probabilities show that over long term our trading strategies have an edge over the market.
But just because we have an edge doesn't mean every month will be profitable. In fact there is 20% probability that any 30 Days of trading will be unprofitable. But the good news is that winning periods are much larger than losing periods. Largest losing month was only -5.5% while largest winning month was a massive +19.5%
The market also tends to run in cycles, meaning that you should never expect linear performance from your trading robots. There are periods of stagnation, that can last for up to 3 months, often followed by sudden and strong moves in the market. This is where most of the profits are made. It's the way market shakes out all the impatient traders.
STEP 6 - When you are ready.
In the last week of your trial, you have a good idea of how the robots are trading and how Evestin Forex works. This is when you need to consider opening your Live trading account with a Forex broker. Use our broker to assist you in this process, as it gives you peace of mind that you’ll get the same trades as us. Different brokers can have different prices, spreads and time zone settings, which gives you false signals. If you want the same trades as us, you need to use our brokers.
FOR CLIENTS IN UK (FCA Regulated In UK)
FOR CLIENTS IN EUROPE (MFSA Regulated In EU)
FOR CLIENTS IN UNITED STATES: (NFA regulated in US)
FOR ALL OTHER CLIENTS (ASIC regulated in Australia)
STEP 7 - Enable Account-tracking
Once you've setup your Live trading account make sure you take advantage of our Account-tracking feature. Your account will be added to Evestin Forex trader portfolio. Our trading experts monitor this portfolio daily and can check your progress.
This feature will also allow you to track your account progress in great detail straight from a web browser.
Congratulations, by completing all 7 steps you're now a 'Robot Trader' - Smarter, faster and free!
Not all forex charts you look at are going to be shown in the same way – this can be extremely detrimental to our trading systems and produce false signals. The majority of the popular and available Forex brokers are not suitable for our trading system or any professional trader who uses price action.
If you’re a serious trader, you must be sure you have forex charts that open and close in true alignment with the New York trading session.
What Does New York Close Mean?
New York close charts mean that the trading days ends at 4:59p.m. Eastern Time and the new day begins at 5 p.m. Eastern Time. This is when the stock market closes for the day as well. This is when the new daily candle starts and the previous candle ends.
Since New York doesn’t open up until Monday, there are only five candles per week on a daily chart. If you have six candles per week, know right away that it is not a New York close chart.
Why Do You Need New York Close Charts?
Closing prices are the most important for any market because it’s a reflection of who won the battle between the bulls and bears for the session. Our trading systems closely watch the close prices and take trades only after the candle closes. If you want the same trades as us, you’ll need a broker with New York close charts.
Where Can You Get New York Close Charts?
We work closely with these brokers who offer the correct 5 PM New York close five-day charts.