EA's Updated

Hi Everyone,

I recently had all my Ea's updated for ECN and 5 digit brokers.If you have copies of Swap Collector or Spirit Mentor Course Ea then please send me an email to spiritup05@gmail.com with a return email and I will get the newest copy to those that bought the Ea's.
You must have taken the Spirit Mentor Course to get that EA and you would have purchased Swap Collector to get that update.All other Ea's I have are private and you would not have them.
Thank you and happy trading.

Regards,

David Lockwood

Vacation Time

Hi Everyone,

Just a quick note to say that I am on 2 weeks vacation at the cottage but will still reply from there or send EA's if purchased.Both the 2 and 10 pairs are in draw down presently because they both have gbp/jpy and other yen pairs but if you have them at 10 cents a pip nothing to fear.Whatever Ea you find and play...if you plan on using gbp/jpy you need to have deep pockets.
I will be doing some updates from the cottage on rainy days.Everyone enjoy the next 2 weeks of summer before the kids are back in school.

David aka spiritfriends

Wow What a Day !

Hi Everyone,

Here is a perfect example of "set and forget". Last night (Thursday) I checked my 2 and 10 pair charts and the 2 pair was in draw down -$1500(playing a dollar a pip) and the 10 pair about -$500.00.When I woke and checked there wasn't much of a difference so off to work I go.I get home late,eat,shower put my son down for bed and finally sit down at the computer.I check the 10 pair first and do a double take that I'm plus $2057.89.If I was at home I would have closed just before the market close so now I'll do that on Sunday.
I go to my 2 pair of gbp/jpy and eur/usd and $3846.93 is looking back at me! Again if I'm home I close and start over just before the close but will do that on Sunday.So since July 19th when I started this 2 pair set up I closed the first 2 times and brought the account to $6168.35 and with this float to close at $3846.93 the equity is $10,015.28 from a $3000 start and in only 18 trading days.
With the 10 pair now at $13,937.49 in equity and that started July 12th the 2 platforms total a profit of $10,952.77 ! Now if I was home watching the fireworks of NFP I would have been tempted to close early but I was at work.There of course are lots of scenarios but the one that unfolded was the set and forget and they did great for another week.
I hope everyone that is trading Swap Collector had a good day also and I would like to hear your stories and share them on the blog.

David aka spiritfriends

Corrections on pip values with Forex.com

Hi Everyone,

I must apologize for an error in my reporting of pip values with Forex.com.In 5 digit usage I should only use 4 digits which instead of pip value being 1 cent .01 it is 10 cents.So having a pip target of 100 in the Ea actually becomes a 10 pip target at 10 cents and thus the $1.00 reached targets in my videos.So for everyone trading with Forex.com,you must apply 1000 pip target to collect 100 pips.
So what does all this mean.The good news is that all demo and live accounts with Forex.com operate through the UK so no problem with my EA with the FIFO rule the NFA applied.The lowest lot size per pip is .01 or 10 cents.The really good news is even though we were under the impression that we were trading at 1 cent,we actually were at 10 cents and we haven't seen much of any draw downs since May 28th with the 4 pair Swap Collector and all profits are still real and valid.
So thank you to the traders that have helped to make this correction and I'm happy that the emails coming in report good pip profits to date.

David aka spiritfriends

New You Tube Video Update

Hi Everyone,

The Swap Collector continues to churn out the profits.I've doubled my 2 pair account started July 19th from $3000 to over $6100 and my 10 pair I just cashed in for $1800+.This truly set and forget EA has made these profits with pennies.

To view the video click here: http://tinyurl.com/noo7m9

David aka spiritfriends

2 Pair Update

Hi Everyone,

I just received a comment and question from a fellow trader and you can read his comment below in the last post.The answer to that question...any pair can be used with the Swap Collector. Since we had the chaos 6-8 months ago,a lot of brokers have negative swap for both the buy and sell sides.The 4 pair does have a pair that gives great swap but as observed from a fellow trader,the overall swap for the 10 and 2 pairs have negative swap.When your playing with smaller funds there isn't great collections of swap experienced.The most important side of the SC then becomes how the pairs inter mingle with each other.When you close an account to start over you certainly don't want a big chunk of your profits gone to swap so you must try your best to counter the swaps so the swap subtraction is minimal.
If you follow the steps with Swap Collector,you will have good profits even though the pairs are both paying negative swap.I just finished closing my 2 pair of GBP/JPY and EUR/USD and banked over $2000 using .05 or 5 cents per pip and 20 max orders.I'll be adding a video this weekend for everyone to view.

Thanks for dropping by!

David aka spiritfriends

$2100.49 profit since July 12th

Hi Everyone,

I just finished another video update http://tinyurl.com/mt6wft on 2 set ups using a Forex.com platform.Lot size only 1 cent for the 10 pair and 5 cent for the 2 pair.This set and forget EA between the 2 set ups has collected $2100.49 since July 12th 2009!
My purpose in sharing these set ups is to show how little lot sizes can still produce sizable returns.You can use any pairs with this EA but remember that volatile pairs could go into a sizable draw down as well as sizable profits.
As always play within your means and do not over leverage.



David

More Good News !

Hi Everyone,

I've been trying to show traders how a little goes a long way.I have a read only password so you can follow the 10 pair Swap Collector trading at a .01 lot size or 1 cent and I've just started on Sunday a 2 pair Swap Collector trading at a lot size of .05 or 5 cents.Both are doing well and both statements are posted in theis email.
My original 4 pair Swap collector which I started on May 28 is now at a balance of $21,138 and that started at $10,000!


David aka spiritfriends

This is the 10 pair statement

This the 2 pair statement

100 Pip Targets Applied Tonight

Hi Everyone,

All 10 pairs received their first 10 trades each so I have applied now the 100 pip target.See below post for the read only password to follower the trades.Were sitting about + $405 right now.

David aka spiritfriends

10 Pair Swap Collector 2

Hi Everyone,

On Sunday I started a 10 pair Swap Collector 2 and having some success with it.presently were at $384.53 using just .01 lots 10 cents for all 10 pairs.Forget the swap at this low price,it's only at -$1.89.This will show you the power of $10.00 as after 10 trades are placed on all 10 pairs,then I will apply the 100 pip target to the remaining 10 trades on each pair and watch the $10.00 targets start adding up.
here is the read only password for anyone wanting to follow this setup.
Login : 90243625
Investor : ur6qqih

The account is a Forex.com so you will need to open a demo then apply the login and the read only passwprd if you want to follow.I will continue to post updates on this.

David aka spiritfriends

July 10 2009 Update

Hi Everyone,

Since June 18th when we began a carry over of $11,430 and smiles are on every ones faces as profits on the 4 pair Swap Collector are close to $8,000 since June 18th.Now that's a great month and there is still another week to make it a month.Many have asked when to take profits and my reply to all is to decide that for yourself.What are you happy with?A profit of $8,000 is good anytime of the month!
If you decide to close,after the money is banked,you can begin the whole process over again.Now the new NFA rule of FIFO would effect the Ea if you have a US broker but the way around that is to go to your brokers foreign office.I am also considering getting the Ea coded in other languages so it can run on Ninja or Trade Station etc but again a US broker would cause a problem for this Ea unless I implement a penny difference on every trade.I would certainly consider having that done if the requests multiply for that service.

I have done a You Tube video on the update and it can be seen here:
http://tinyurl.com/lmfaa3 .

Your questions can be directed to spiritfriendss@gmail.com

David aka spiritfriends

Time for an Update

Hi Everyone,

Thanks for coming back to my blog for this update.My last post,we started over after the account closing and carried over $11,430 to start a new account on June 18th.Below is the screenshot at the close June 26th.We started the 100 pip target yesterday also after getting the exact number of trades we need on the 4 pairs to carry the swap.
Were at a profit of $2658.18 with $237.20 collected in swap(interest). All this accomplished in 8 trading days.Two choices here.Continue,and leave everything alone or close and collect your 8 day paycheck of $2658.18!!!

JUST ADDED: http://tinyurl.com/nq63l7

A FOREX SWAP COLLECTOR UPDATED VIDEO FOR YOUR VIEWING PLEASURE

David aka spiritfriends

A Forced New Cycle

Hi Everyone,





Some how a demo account which shouldn't go down did so now I will have to pick up where we left off and continue.We had a swap of $804 in 18 trading days(Sunday included) and a net profit of $2624.00 from 100 pip targets being reached for a total of $3438.00.We were well on our way to a $5000 month with the remaining days left in the month of June.Here is the screenshot of the statement before it closed.
If you have any questions please direct them to
spiritfriendss@gmail.com .

TWO THUMBS UP

Hi Everyone,

Were in positive float territory tonight.Additionally,profit from 100 pip targets is up to $1804.00.What really stands out is the swap collected since May 28th @ $582.00.

David aka spiritfriends

Benifits of Setting a Target

Hi Everyone,

I wanted to post another good question from a trader and touch on a practice that can save you some losses.
Here is the post and question:

I am using it with 0.01 lots for the pairs AUDUSD and USDCHF . I have chosen AUDUSD because of higher swap and becuase it seems to me that USDCHF is an adequate hedge. But I notice , that a simultaneous movement usually gives more value for AUDUSD than for USDCHF , a situation which is even convenient now with a positive trend of AUDUSD. But in a negative trend it will lead to losses which surely will be larger than the collected swap ( and possibly the trend might continue over the maximal 40 trades , so that I experience no cycle and a cumulating loss ) .
My question:Would it be clever to use 0.02 lots for USDCHF when I see definitely a negative trend ( to have a more correct hedge and possibly even more profit ) ?

and my answer:

The proper lot size for eurusd and usdchf is eur .04 and chf .05.I would have to follow audusd and usdchf but to your question you would need to have a different lot size on both rather than just 1 lot size.To avoid a big drawdown,decide on an acceptable profit (I use 100 pips) you may use 25 pips then apply that as your target.That might cut your swap on some trades but you'll gain more from the target being reached and with each target being reached the Ea will continue to place trades(up to the amount you set) that become more relevant to time (present) thus minimizing your drawdowns.
A good pratice, and this should be part of your plan is to bank your profits often before you loose profits in a reverse and banking profits will minimize the drawdown in the event there is a reverse and substantial move. Hope this helps. David aka spiritfriends

Most traders,especially new traders feel that the bit hit brings them the big cash.With that also comes the big risks of holding your trade.You can't stay up 24/7 and watch your position so impliment a cash out by setting a target.That way,you bank some profit which is the point to all of this while letting smaller positions mature.In the event of a sideways market,your trades continue to pick up the swap.In a drawdown you minimize your stake because trades have been closed when targets have been reached and if your using version 1 it will be another 12 hours before a replacement trade is placed and 8 hours with version 2.Depending on your lot size,set your target realistically.Know the pairs your playing by using an ATR indicator giving you the day,week and monthly moves.

David aka spiritfriends

EUR/USD-USD/CHF Update version 2

Hi Everyone,

I've posted an update from my version 2 EUR/USD and USD/CHF trades.This might help those to see a visual of whats happening.I didn't use a target of 100 pips and trades are all at .02 or 20 cents.

David aka spiritfriends

Never Blindly Follow Someone's Methods

Morning Everyone,

There are some good emails coming in regarding the experiences of traders and how this has effected their trading now in being cautious.The main one is believing that someone else has the solution for your success.It's so important for you to be in control of your destiny and not having someone else make your decisions for you.The Swap Collector is just that.It can be used so many ways.You don't have to follow the way I use it or the pairs or methods I practice.Be your own master.If you purchase a copy of Swap Collector,start with 10 cents a lot and experiment.You won't get hurt at 10 cents.You also don't need to set trades at 40 trades or 60.Start small to see the workings of the EA and your selections.Use the back tester to show you quickly the results of your decisions.

Here is another email I received and the answer.

David,
A few years back, I was in a managed fund that targeted the swap on the GBPJPY which has good swap rates. The fund did really well while the pair was trending up but all the gains were given back (and more) when the GBPJPY fell off the mountain. This highlighted how dangerous it is to target swap returns alone. One still has to get the direction right to succeed. Does the use of three or four currencies offset the risks in this type of strategy? By your comments below, one has to do a bit of analysis to decide which currencies and the direction. I have not heard of the Murrey Math Lines before. You offer on the blog to include the four currencies that you use. Will this include tips on how to implement the EA and the use of the Murrey Math Lines.

My answer was

I have no problem before you purchase the Swap Collector to send you a couple of versions of the Murray Math Lines and the pdf's so you can experiment with them.I also teach some of my methods of trading to students all over the world.My average trader has 5 years experience or have come from stock trading to forex trading.
One of the first things I discuss with my classes is to have a plan.You should never blindly follow any system until it falls off the earth.Ask yourself what amount of money a month would you realistically believe you could make then divide that by 20 days which are the number of trading days in a month.If it's $5000 a month,you need to make $250.00 a day.That can be accomplished by collecting 250 pips at $1.00 a pip or 25 pips at $10.00 on 1 standard lot.I'm for always taking profits whether I make them in 2 days or 20 days.The hardest part of trading is the discipline to stick with your plan.I hear all the time "I could have gotten a lot more" and I reply "you also could have lost a lot more".
Try out the Murray Math Lines and I trade them from 1/8 line to 7/8 line for the reverse etc.They will often move past the 1/8 and 7/8 lines but that's basically the rule of thumb I follow.

David aka spiritfriends

I hope this helps those with questions about the Swap Collector and trading in general.

David aka spiritfriends

Swap Collector Video Now on You Tube

Hi Everyone,

I now have the video on You Tube and you can watch it in better quality and size at
http://www.youtube.com/watch?v=LXHdv7mLEue .
I had a question that a trader thought the Ea lays a trade at certain price points.The Ea is totally time based and only lays trades every 12 hours on version 1 and every 8 hours on version 2.The only money management needed is to set your lot size according to your appetite for risk and your equity balance.You need the trades to continue daily to collect the swap.Only when you are satisfied with your bottom profit line would you close your trades and start the cycle over.
As I stated in the video,my 4 pair started May 28th had reached $617.00 by Sunday night June 1st.If that was enough for you then close the trades and start again...simple as that.
I can't stress enough that you must get the feel of the Ea if you are a beginner in trading forex before you start laying some heavy lot sizes.Ten cents a lot will give you that feel and still pay off your cost for both the Ea versions in a short time period.

David aka spiritfriends

Welcome to Forex Swap Collector

Hi Everyone,

I've been trading for over 25 years.I got involved with forex about 5 years ago and quickly saw the potential using automated robots to trade for you instead of staying glued to the screen.I've developed with my good friend and excellent programmer FerruFx, a number of EA's which I found the ideas interesting.
I hope to share some of my knowledge about trading with many beginners and seasoned traders alike.This is still in the set up stages but should start rolling along shortly.

David