Forex-Tools-Cafe Blog

I’m testing sending email notices when a new post goes up and if I get it working, I’ll use that to tell users there is new material.
Should be one or two times I can up load content. If you don’t want notification, you will have to unRegister on the Blog.
Thanks, John Burch

Hi, Everyone.
This is a test post from the blog at Forex-Tools-Cafe.com . Since the loss of the original email list, many users have registered on the blog.
I salute you for making that decision. I hope that I can continue to help, but my disease, ALS or Lou Greg’s disease, will take me down within the next few months. After that, what can I say? I wish you well. I can hardly talk or eat, can not walk or stand. It’s not a pretty picture.

I have a few more things and will put them on the site in the near future. That is almost funny. The near future is all I’ve got .

Anyway, best wishes, and I hope you do well at Forex.
John Burch

Due to health issues, I can no longer maintain this site or update indicators. You can ask and I may try
but I think this is the last days of operation. The site is good to be here into 2013 but beyond that, probably not.
I doubt any indicators will be upgraded to MQ5 for the same reason. I’ve worked on RSI_Magnifier and it needs more work. Sorry,
that is the way it goes. Also, due to an error updating databases, no one will be notified of any future edits to the site. I lost the entire email list.
I will probably make the mq4 source code of all products available for free download.

Good luck trading. John Burch

One thing you see on all robot sales pages is one or two pictures of good trades. It is worthless.
A MA cross system EA would lose money in the long run and still give you beautiful, high profit trades in the mix.
In other words, any system catches a few good trades. That does not mean anything is positive over time.
Only if they show you continuous time over many days would that data have any value. And no one does that.
So, you are getting a sales pitch and you know the chart data is worthless. Now do you buy the thing?

Another issue is stop loss. If the results are shown in a text window where you can see each trade over a period of time,
look to see if the stop loss column is 0.000. If it is, the robot does not use a stop loss. And they may claim it does.
They lie. All they have is the intention to get out at some point. That is an “internal” stop loss. That is NOT a
real stop loss. If the broker does not have that stop loss in their records it is not real. If power is lost, and
the robot can’t run, then you are totally vulnerable to maximum loss because the broker thinks you are not using a stop loss.

Don’t buy robots that don’t know how to trade with a reasonable stop loss.

That same text window of all trades can be used to plot the trades on a real chart if you have enough data. It’s a pain,
but you can get a feel for how skilled the robot is at entry and exit. If you see it making really stupid entries and
exits, you might reconsider buying it.

Just some thoughts after looking at hundreds of robot sales pages. Be careful.

Leo, the pdf (Classic_Boundry_Breakout_Strategy.pdf) is fixed for download. Wow, no one till now, was able to download it?
Sorry, I don’t catch all these small errors so I depend on feedback.
Thanks, John

Thanks to Leo for raising this issue. Over the past year, I changed RSI_Magnifier and that killed the operation of the trend line alerts for use with the RSI_Magnifier. Only took a few changes to fix it but it waited for someone to say something. You are all encouraged to give feedback. Sound off. I’ll try to fix things if possible, but sometimes, not unless someone shows interest. You can download RSI_TrendLinesAlerts again and the new version works, but can’t be tested until the market opens next week. Since I did not change any of the code to sound the alarms, it should work, but let me know if it does not. John

Well, I can’t believe what I’m seeing. Nothing Good anyway. A trader named Casey Stubbs from Winners Edge Trading gives a video on his technique and everyone loves it. Even Tom Strignano. But I think it is a scam. Stubbs shows you every trade he supposedly made over a week and he catches all the big moves and claims he made 1600 pips. BUT, he ignores all the chatter trades that would have lost money , but his “rules” don’t address how to avoid the losses. So it looks like a scam because his rules say nothing about how to avoid the choppy, flat market trades. So, his big gains were acquired without following his own rules. His site

Maybe he is saving that critical information for his “product” which comes later. Anyway, if you have a perspective on this, please post.