The TradeFoxx Automatic Trader, is programmed to do what a Human Trader should do when trading the market. We have programmed 10 trade setups we have found through back-testing that offer a classical approach in finding a valid entry.
There are many settings available for controlling time, hours of the day, total trades for the day, max losses, max wins, adjustments to indicator periods, and more. These setting need to be learned and reviewed.
Although we have an auto-bot with over 10 trade setups, we do not have a holy grail and we do not have a robot that does not require learning what the bot will do. You must babysit for increasing average wins. Think the auto-bot is like an Auto-Pilot on a Airplane, it can fly to a destination and even can virtually land itself but there is always a need of a Human Pilot that can takeover and land the plane in bad weather or adverse circumstances.
This Human pilot (trader) can do what the Auto-Pilot can do to the T.
In other words you must know the strategy of choice, when should the bot take the trade and be ready to take over if things do not look good. You can not and we do not promote trading blind, and yes you must paper trade for at-least a month or two to become a trader.
Let us first start with learning the trade setups. We have programmed the manual trading guide using TradeFoxx Signals and we have 2 versions a conservative risk taker called Aggressor Event 1 and less conservative risk taker called Aggressor Event 2.
You set the Trade Setup under the heading Trade Logics and the parameter called Aggressor Event. There is also other Trade Setups we will go over these later, that are set in the parameter called Sub Event.
0 = All Events and One Sub Event if set
1 = Aggressor Event 1 with lots of confirmations
2 = Aggressor Event 1 with bare minimum of confirmations
3 = Turn off Aggressor Events and use only Sub Events.
Sub Events has 8 events 1 to 8 any other number turns off Sub Events.
Aggressor Event 1 and 2 is our manual trading program made into a robot, read manual trading for insight on the Triple EMA trade setup.
Sub Event Values, when aggressor event is set to 3
- 1 = Crossover HMA,EMA,WMA
- 2 = Crossover SMA9 to SMA25
- 3 = Crossover Trix 14 to 9
- 4 = Crossover Dochian Turtle Trade Setup
- 5= Three Bar High, Three Bar low (Larry Williams)
- 6= RSI Overbought Oversold trend Change
- 7= DMI Trader at Trend Change very aggressive lots of events per day, not for the faint heart
- 8= Tops and Bottom Finder very aggressive lots of events per day,not for the faint heart
Price Spread Setup 1 to 8 is the price spread of the last bar filter one for each setup. The preset values are defaults for indices. If you do not want to use the Price Spread Filter set the value to 0.
The logic of this filter is that if the last bar did have enough spread from the open price to the High then we might not have enough range to enter a trade.
Now we know how to choose a trade setup.
To test the Trade Setup there are three ways, using the NinjaTrader Platform.
- We can use the Strategy Analyzer
- We can Download data using Market Replay and use Play Connection
- We can Open a Chart load TradeFoxx Trader and use sim mode with live or delayed data.
Each test process will get you closer to knowing if the Trade Setup will work has stated.
Trade Parameter called Limit/Market/Back-test is used to place a Trade order or when back-testing.
1 = Buy/Ask for Simulation, Market Replay and Live Trading (recommended for real-time trading)
2 = At Market Price for Simulation, Market Replay and Live Trading
3 = Strategy Analyzer will only produce results if value is set to 3 .
To back-test you need to put Limit/Market/Back-test to a value of 3 or you will not see any results when testing your futures, stocks or Forex Market.
Profit Ticks and Loss Ticks works only in the Strategy Analyzer to produce Back test reports.
ATM name Parameter is crucial the Auto Bot will not produce results unless a ATM is created with the same name entered here. We provide a generic one that can copied to get you started.
It is located in C:\TradeFoxx\AtmStrategy
You need to copy it to C:\Users\???\Documents\NinjaTrader 8\templates\Strategy\TradeFoxxTrader
Turn Off Buy Sell Parameter
If you want to trade only buy side or sell side 0 = Turn Off 1 = Active
Daily Profit, Daily Loss, Trades Per Day only work in real-time feeds and can not be back tested. To turn off simple put high values.