Forex Trading Update

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I entered the trading competition at ibfx.com.  The winners have typically done well over 100% in a month so I don’t know that I will come in first place, but we will see.  Since the competition started on Dec 1, I am up 12.5% on my account.  

All trades so far have been from my Expert Advisor (EA).  I do place my own manual trades, but I wait for a perfect storm type of trade so it may only be 3 to 5 a month.  If you are not familiar with Meta trader you may think an Expert Advisor is a professional trader that gives me advice on which trades to place.  That would make sense, but that is not what an EA is.  It is a program I made that automatically places trades day or night for me. 

 

EAs aren’t always good because they take out the human element of the decision process so it is important to monitor the trades.  I am not planning on giving away or selling my EA, but there are many out there.  A couple sites that I think would be great to investigate if you are interested in expert advisors would be:

Both of those sites are forums where traders from all over the world help each other test and develop expert advisors among other things. If you just want to start testing some EAs then I would suggest checking out Ron’s website. He has been diligent in posting EAs and indicators he has found for everyone to download. His site is ForexMT4. It doesn’t allow for comments so you don’t know which EAs work best.

Enjoy those resources and I hope they help you in your trading.  I will post more trading updates here at JordanEnglish.com so be sure to check back.

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