Update for the 10 pair

Hi Everyone,

Well summer around here is officially over.Last day for the CNE... the kids go back to school tomorrow and it's time to get serious about work again.I hope everyone enjoyed their time off this summer.
If there is one thing I would like everyone to understand in regards to my 10 pair swap collector it would be the word "over leveraged".I'm still sitting good and the account has come back 50% since last weeks draw down.Profit is still good and trades are still reaching target everyday adding to the balance.The message though is to choose a few pairs at low max orders and small pip size and you'll be able to build a nice amount each month for your account.
Everyone doesn't like draw downs especially big draw downs.I'm the same way but never adjusted the account because I know my Ea and although the cycle went deep this time because of about 200 trades active all at 20 cents,it's still doing nicely.
I will be doing a video update on version 3 and other key factors for being successful with the Forex Swap Collector so keep coming back for the posting.

David aka spiritfriends

Changes Coming

Hi Everyone,

I hope everyone is making profit with their Swap Collectors.There are a few changes on the board right now.The first is a new video for set up and logic.The video posted at Files anywhere is corrupt and only plays audio so that will be replaced.
My programmer,FerruFx has completed version 3 for me and I am testing it right now.The big change is a close all has been added to the EA.You just set the dollar amount you want close your cycle at and presto...when it reaches that amount everything closes very quickly.If anyone is in need of a programmer I can vouch for Ferru as he has been doing my EA's for years now.Contact me and I'll pass on his email.
That's about it for now.Look for the video and I'll also be posting favourable pairs to run Swap Collector with.

Regards to all,

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