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

Amazing How Time Away Gives Clarity

Hi Everyone,

As you can see November 9th 2009 was my last post.Back in June 2010 I had an email from a thread that I contibuted to on a forex related topic and that was timely because it got my blood moving again for the passion I felt when trading forex.
I can honestly say that I have not done any trading since 2008 and the time away has helped me to see forex trading in a new light.I created a demo platform with the goal of sharpening up my skills with some satisfying results.
I loaded Swap Collector Version 3 on the GBP/JPY chart...made some adjustments and along with some manual trading have been very successful.I used a Forex.com platform and started with $10,000.I was lucky that my platform lasted until Aug 26th before that closed as is the practice now.Here is the statement (bottom portion) with the results.
You can see a huge gain to $40+K in 2 months time.All basically came from Version 3 and manual trading seeing advantages as the signals on V3 paved the way.

NEW...Updates on directions to take with each pair!

Hi Everyone,

I want everyone to take a look at what I will be doing for Swap Collector.Most everyone has voiced concerns about pairs and direction to take.First off,unless we can trade pairs like eur/try etc we will not make much of anything for swap.The Swap Collector was named in 2007 when the swap situation was different.You always had a positive swap and negative swap depending on direction.Then came the 2008 meltdown.Brokers changed their swaps leaving us with a negative swap and changing the positive swap to a lesser negative swap also,like the lesser of 2 evils.So we'll now focus on the positive aspect of this time based EA.

In the screenshot is a weekly chart.You'll see a blue arrow which represents a buy direction and an orange arrow representing a sell direction.I also have my version of the Murray Math lines which I have used for a long time for direction.Notice the buy-sell-buy-sell arrows on the chart for the usd/cad.The signals are pretty accurate for suggesting direction.Presently for usd/cad we are in a sell mode since March 29th 2009.In our EA, if we were playing usd/cad we would set the direction for sell and follow the rest of the rules of the first half of the trades being placed with no target then the second half of the max orders, having a target to suit your comfort zone.It could be 50 pips 100 pips, more or less, but until we get a blue arrow we stick with sell direction.

Upon getting a blue or buy signal we close all our trades and begin the cycle over now setting a buy direction.When we get an orange arrow for sell direction then we close all trades again and begin the cycle in a sell direction.As you can see there are some bounces and as long as you aren't over leveraged with too many max orders and excessive pip size then there will be no problem in waiting for the retracement to end and continue in the direction of the arrow.

If you compute from arrow to arrow for pip totals you will see that pip totals are huge in the directions of the arrows.I have also just about finished with testing version 3 which includes a close all for you to use when the direction changes and all trades are closed before you reverse direction.

Once I have completed the directions of all pairs that Forex.com uses,I will post them.I will update as they change.For anyone wanting to be notified by email of the changes of directions for the pairs,you can do that by sending me your name and the email you would like the updates sent to at spiritfriendss@gmail.com and put "I would like updates" in the subject line.You do not have to had purchased the Ea to get these updates as many are watching and following the blog.

If your following the 10 pair with the read only password I posted you will see that we are in draw down.Please don't let this sway you.Consider that 10 pairs is way to many pairs for anyone to trade but does indicate the fluctuations of the EA.The account started with 10k and sits with a balance of 14K and draw down around 4K so were at about break even...for over leveraged positions.

David aka spiritfriends

Correction but GOOD news !

Hi Everyone,

Last Sunday I started a 10 pair Swap Collector 2 and lot size was .01 which I thought was 10 cents.It turns out that since Forex.com uses 5 decimal points that it's actually 1 cent.Through the start of the week the account climbed to over $700.00.That's even more amazing that it was on lot sizes of 1 cent.I do have some pretty volatile pairs like GBP/JPY which was channeling 4-500 pips but with multiple lots at 1 cent it wouldn't take long for the account to show a big profit.Just the same it could have gone to the minus side also but all 10 pairs would have to break down together.
The week closed at $300 dollars so if I had of closed the account at $700 then closed an additional $300 the take was over $1000.This from 1 cent per lot.
Now I have had a lot of traders voice that they have $500-$1000 to play with and my suggestion to you would be to start with 4 pairs at 1 cent and have max lots at 20.I don't see any point in placing the first 10 trades for swap as it won't collect that much and those extra 10 trades can collect nicely at the 100 pip target.
My 4 pair Swap Collector 2 that started June 18th went over the 20K mark this week with swap around $1455 right now.You can see that you collect the price of Swap Collector 2 over and over again with the profits from the EA.The other nice feature is the "set and forget".I never close,adjust or take profits manually.I start the platform before Sunday open and close it Friday close.

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