What to expect from a Auto Trader for Day Trading.

We have made every effort to have our Auto Trader perform every aspect of day trading automatically. We have put almost every setting used to determine a trade decision under your control. This makes Auto Trader a complex program with a wide range of variations that will change the outcomes for the good or bad, depending on your settings.

  1. Automated trading: Auto traders use computer algorithms to automatically execute trades based on specific rules and conditions. This eliminates the need for manual trading and allows for faster and more efficient trading.
  2. Customizable settings: Most auto traders allow users to customize their settings based on their preferred trading strategy and risk tolerance. This includes setting stop-loss and take-profit levels, selecting indicators to use, and determining the size of trades.
  3. Backtesting: Before using an auto trader, it is important to test the strategy and settings to see how it performs in different market conditions. Most auto traders offer backtesting functionality, which allows users to simulate trades using historical data.
  4. Real-time monitoring: Auto traders provide real-time monitoring of the market and open positions. This allows traders to react quickly to changes in market conditions and adjust their strategy accordingly.
  5. Risk management: Auto traders typically offer risk management tools, such as stop-loss orders, to help minimize losses and protect against unexpected market movements.

The strategies or trade setups are called Sub Events.  There are currently 10 trade setups you can use. We have included templates of these ATM strategies under C:\TradeFoxx\Strategy.

Under the folder /TradeFoxx/ you will find a couple PDF files that will help you understand the trade events and how trade setup and decisions are made.

The trade setups should be back tested and you can back test them yourself using NinjaTrader Strategy Analyzer. Try it out in simulation, learn how it functions and see if the results work for you for before using on  live market.

The parameter limit/market/back-test must be set to 1 or 2 for simulation and 3 for back-test in the Strategy Analyzer.

Although the Auto-bot will find a trade, enter a trade and exit a trade, the profit target and trailing stops must all be set by you to the particular market you wish to trade. An example ATM can be found in C:\TradeFoxx\AtmStrategy. Called BotATM.xml or EURUSD3.xml

For simulation testing you must have BotATM.xml created. Copy our default into C:\Users\???\Documents\NinjaTrader 8\templates\AtmStrategy

You can use this example for indices markets in simulation mode, but it will not work for Forex markets. You will have to adjust your own ATM for PIP profit and stop targets. You can create for any market, including oil, forex, commodities, and stocks. The naming is Case Sensitive so watch your spelling when adding a filename in the parameter section.

You can create a ATM for Oil and call it OilATM.xml and one for ES call it ESATM.xml. You can make as many as you need, for as many markets as you want to trade.

Although the Auto Trader Auto-bot will do everything automatically, we recommend you Baby Sit it. This is because it is not the Holy Grail and you can increase profit results by exiting when things look wrong.

You must completely understand the robot, therefore you must watch it for hours and hours to understand when it takes a trade setup, how it moves through the trade event and once you totally understand its function with the confidence of simulation experience, you can then consider using it in any real time fashion.

Our trading robots are not for the blind or unconscious trader, but for those who understand that making a trading decision is a complex procedure. We give you every possible setting to make a automatic process, but you must create the settings.

One parameter change can make the trade robot not work, so back-testing before simulation is a must. If you see no results in back-testing you will not see results in simulation.

In addition, don’t expect massive amounts of trades per day. On average, expect 3 trades per day based on the hours set up.

Not every chart style works with a robot. Just like traders prefer certain charts styles to make trading setups, our robots like to use HeikinAshi, and Renko.

Auto day traders automatically execute trades based on predetermined rules and strategies. Here are some things to expect from an auto trader for day trading:

It is imperative to note that while auto traders can be useful tools for day trading, they are not foolproof and do not guarantee profits. Traders should still have a solid understanding of the market and trading principles, and should use caution when using an auto trader.

If you have any questions on any setting drop us a email support@tradefoxx.com