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Introduction and Background
When starting trading at the beginning of the new century a group of traders who studied price action and trading volumes made an interesting discovery. Price movements can be mirrored in the changes in trading volume.
An increase in trading volumes can cause a trend, slow the trend down or even reverse a trend.
Further studies revealed that those increases in volumes occurred BEFORE the market changes took place. This meant that volume represented one of the few leading indicators of price movement.
The picture above shows how trends occurred AFTER an increase in trading volumes.
Considerable money was made during that period using that knowledge to scalp the market on short term charts. Invariably a sharp increase in volume resulted in a trend reversal a few minutes after the volume increase. This gave enough time to enter the trades before the trend reversal happened.
Later it was realized that this could apply to major turning points that occur during a day. After trading the concept manual for quite some time in 2012 the Daily Pivot trading robot was created which traded the market very successfully on an automated basis using volume-related signals. Later this Robot was commercialized as shown in the YouTube video below
( Below is only a picture - it is not the actual video )
Earlier, the Daily Pivot received a major upgrade which included adding Day Trading settings and automating settings so that the Robot finds its own volume settings. The settings were also simplified so there is no longer a sell or buy bias. When testing the upgraded Robot we were surprised by the low drawdowns experienced in both continuous and day trading. This is very important due to the growth of Proprietary Trading.
Set and forget traders use set files to trade the same settings over several weeks. Initially these set files come for the settings provided on the Expert4x free and paid data settings data bases. These are not plug-n-play settings you can blindly start trading.
These set files need calibration to trader’s own broker accounts using a process called the “I wonder” approach. Once aligned and reasonable back testing results have been achieved, experienced traders test 6 to 8 variations of the results on demo accounts for 3 to 4 weeks to make sure satisfactory results have been experienced. At that point only the best settings are selected for live trading.
More experienced traders create their own settings using a combination of optimisation, back testing, watching trading happen on charts and experimentation to create set and forget strategies. Because of their skills, they can start trading live sooner
Free Monthly Settings are available at this link (after the 12 of June) : - https://settings.eafactory.com/Expert4x/overview/
Monthly Advanced Paid settings are available at this forum (after the 12 of June): - https://www.forextradingsetups.com/
Day traders often use the trading robots as tools to automate the trading that they would do manually or trading that happens so fast that it is impractical to do manually or to manage trading when they are away (sleeping).
So, they would use their own trading experience and strategies to identify trading opportunities amongst several currencies and timeframes. They would then activate a special set of settings for those trading circumstances and let the robot do the rest of the work of managing the transaction and exited as instructed.
Using this approach traders can make sure all trades are closed at the end of the day or when reaching daily profit or loss targets
Proprietary traders trade other people’s money. Anybody can do this. They would use the Robot to either use a swing trading or day trading approach to generate consistent income. They can trade up to $400 000 and keep up to 70% of the gains generated. All that is required is to go through 3 qualifying phases.
The returns required by this approach are not very high (5% to 10%) but traders have to have drawdown management and position sizing skills to succeed. The Trend Trader Robot provides the tool to meet proprietary trading requirements.
The settings provided by the Daily Pivot allow traders to limit daily losses and create daily targets and cater for many other Prop trading requirements - see the results achieved lower down
See how the Daily Pivot Trades
The Daily Pivot trading logic is based on the fact that 2 things happen before a change in trend. 1. The market moves in the wrong direction (big players try to get a better price) 2. There is a sudden increase in trading volume (orders) before the trend change. These are leading trading signals that happen BEFORE the price reacts. So when these 2 things happen the Robot will take a trade against the short term direction.
So part of the skill of using this robot is determining what is abnormal trading volume and using suitable risk-return ratios ( determined by the relationship of stops to target sizes of individual trades and/or daily targets to daily loss limit sizes of multiple trades in relation to the instrument you are trading
As shown by the highlighted headings in the picture on the right and below the settings have been arranged in a logic order of trading decision making.
There is a detailed user manual providing detailed information about each setting and the drop down menus
- Back test and forward test any settings you propose to use until your experience profitable results
- Use you positions sizing in conjunction with the above equity stops and target to create an optimum balance between these settings e.g. It you position sizing is too large you might be stopped out too often
- Experiment with different values of transaction stops and targets. Keep them realistic to day trading values – if neither are being reached in days, they are likely to be too big.
- There are times of the day that are well suited to “reversal’ strategies and other time are best suited to “with the trend”. Generally, the low volatility times are good for reversals and the high volatility for trends. You need to experiment with this concept
- Make sure the Daily trading mode is activated when using the Day trading settings
- If you want to day trade with the same settings make sure "re-entry" is selected after close trade options (Target, Stop and time of day settings.)
- If you want to trade 2 sessions of the day e.g. use EAs on different charts
Please view this video to see a general overview of the settings that shows:
- How to switch between Continuous and Day Trading mode
- the Conditions required for Entries;
- the Conditions required for Exits
- How the direction of trade is determined.
- How the number of open trades are determined
- Day Trading controls
Please note these optimized setting are created by EAFactory regularly.Optimized settings only represent the settings that worked best for that period and are unlikely to produce the same results in the future. They should be used as guide settings until proven to be profitable in further testing. There are a number of sources of optimized settings available.
Our free optimized settings are based on 100:1 leverage - these settings can currently be found at this link:- FREE SETTINGS
There are also advanced settings that focus on a wider range of trading instruments and lower leverage and smooth equity optimization approaches. These are available to paid premium subscribers (from 11 June) at this link:- PREMIUM MEMBER SETTINGS
See all the settings by using this link:- https://settings.eafactory.com/Expert4x/DailyPivot/latest/
Historical Continuous trading strategy - Currencies
Historical Continuous trading strategy - Index trading
Please note that all historical set-files should be considered unreliable as they are based on back-tested price action and have to be forward tested for 2 to 3 weeks to ensure the anticipated results are being generated. The above results only show the potential of the Daily Pivot to be configured and are in no way a promise of future profitability
Tips on getting the best out of The Trend Trader Trading Robot
- Do not trade on a live account until you have experienced positive results on a demo account over a 2 to 4-week period (Don’t be in a hurry).
- Use position sizing of 0.1 for every currency for every $1 000 in your demo account.
- Test as many currencies as your computer resources allow.
- Know the function of each setting as described in the user manual.
- Study this marketing page and watch all the videos provided.
- Learn how to download testing set files (Video on this page).
- Learn how to calibrate and optimize the EA for your broker account (Video on this page)
- Make sure you know the basics of Forex trading by doing the free courses on this page
- Do not trade on a live account until you have experienced positive results on a demo account over a 2 to 4-week period (Don’t be in a hurry - duplication on purpose).
If you are new to Forex trading and Forex Robot trading then please make use of these FREE resources.
- The best beginner course in the Forex industry: FOREX UNIVERSITY
- A 6 module downloadable PDF course covering how to find ENTRIES, TURNING POINTS, EXITS, TIMES TO TRADE, MANAGE MONEY and WHERE TO PLACE STOPS : Simple-N-Easy Forex Series
These will give you the very best start to trading the Forex market bu understanding the manual processes. For specific information about trading Forex robots please watch the videos below.
TIP: Click on the YouTube logo when watching the video to expand the video to a bigger size.
The Guide when using this Robot is "Use 0.1 per $1000 in your account for every time you use the Robot when using Fixed Position sizing. So, for example, if you are using a $5000 account you can use the Robot on 5 currencies using 0.1 for each currency" Many traders do not have $1000 to $5000 available to start trading.
1c accounts make it possible to stick to the above guidance using only $10 to $50. Watch the video to see how
View this video to see how
* $100
effectively turns into
*** $10 000
for trading Forex Robots when using these very special 1c account
Click here to Open 1c Account: 1c Accounts
All our EAs come with WORLD CLASS Support !!
- Each purchase allows you to download the MT4 and MT5 versions of the Daily Pivot
- The Daily Pivot Robot is licensed and can be used as often as you like (on as many platforms and broker accounts) as long as you do not use it on more than 2 computers AT THE SAME TIME.
- Upgrades are free
- As you can limit the number of trades open at a time it is possible to use the Daily Pivot of US Broker accountsr Robots do not work on US Broker accounts due to hedging and FIFO restrictions. Most US robot traders use off shore broker accounts.
- Please note that the Daily Pivot is part of a Bundle - see the purchase options
- THE DAILY PIVOT ROBOT CAN BE USED AS A DAY TRADING TOOL AND ON A LONGER TERM CONTINUOUS BASIS
IMPORTANT: Before you purchase, please read our "Sales Agreement" and "Risk Disclaimer" at the bottom of the page. By Clicking on any of the PayPal Buttons, you are agreeing to the "Sales Agreement".
First-time buyers can simply click on the PayPal button and process the payment. You will be supplied with immediate information on how to open an EAFactory account to download your purchase. A backup email will be sent to your PAYPAL email address
An additional license for an additional 2 computers can be purchased from the EAFactory website for $60 if required
Please click on these links to get more information about the MAKE MONEY DAY TRADER and the TREND TRADER. You will be able to download the 3 Robots after using the PAYPAL Button above - Watch for an email sent to the email used for your PAYPAL account
An additional license for an additional 2 computers for the bundle EAs can be purchased from the EAFactory website.
We also accept Crypto Currencies. Please contact us if this is your only means of payment.
Get the Daily Pivot Robot for FREE
Paid Forum members get the Daily Pivot EA for Free. Please use this link for more details.
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When you purchase the Daily Pivot Robot, the items below become freely downloadable as FREE Bonuses from the product download EAFactory website.
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