Foreword
A number of different measures have been implemented during the last several years by brokers in an attempt to counteract against more and more successful
Forex Robots (EAs) - these measures include price-spiking, excessive spread widening and, in an extreme case, simply preventing all robots from trading specific currency pairs during certain market hours.
B.O.R.N Night Owl Forex EA Robot includes a number of very advanced features and principles which have been designed to make the most of each trading opportunity whilst avoiding the 'dirty tricks' which many brokers now resort to when a winning strategy is implemented in an automated trading robot. With the above in mind, it is very important that you read this entire Presentation thoroughly before jumping to any conclusions or taking investment decisions. Any forexpro will confirm that
B.O.R.N Night Owl Forex EA Robot is simply a forex factory for easy money!
So ... let us get down to business!
The Forex Market
The
FOREX market is booming, especially in the last several years. With over 180 million traders and over 3 trillion US dollars daily turnover (which has increased to 7 trillion in the years after 2007, following the beginning of the financial crisis) it is a big cake and offers a lot of opportunities. As a matter of fact, no other market in the world is as close to the ideal market conditions in terms of liquidity as the
FOREX Market.
It is true that most, if not almost all of the traders in the market lose. Yes, almost 180 million people worldwide would lose their money in the
FOREX market so that the forex pros can profit.
They would lose because of a number of reasons:
They lack experience and/or knowledge;
They do not have a winning strategy or if they have, they are unable to follow it strictly with the necessary discipline;
They are either too greedy or afraid when they need to take certain steps;
They fall victim to their main enemy the broker and the dirty tricks implemented by the broker to prevent the trader from winning and take them to a margin call;
There is the other side to the story however. Some
forex traders win. Not occasionally, but constantly and throughout time they increase their account balances steadily with significant returns; returns which a few if any other business opportunities might offer. These are the
Forex pros.
So, the assumption is that if it is possible for the
forex pros, it is possible for others as well. It will take a winning strategy, discipline to follow the strategy, discipline not to allow fear or greed dictate your actions, and powerful weapons against the brokers dirty tricks if you want to be a forexpro.
B.O.R.N Night Owl is a highly sophisticated
Pro Forex robot (EA) - Expert Advisor Software that incorporates ALL of the above and gives you the opportunity to take advantage of the
FOREX market and profit.
The Trading Strategy
Well, that is what comes first. One needs to have a
winning strategy before making any attempts to trade on the Forex market. That is, if they want to be successful, of course
The definition of a winning strategy is very simple it needs to bring more profit than loss. When you divide the net profit by the net loss you get the so called profit factor and if it is more than 1.00 it means that the strategy is bringing more profit than loss. The higher the profit factor, the better, as losses are rarer and the trader can start using other useful tools as an addition to the strategy, which in any other situations may be extremely dangerous to their balance.
We have a popular trading strategy used in
B.O.R.N Night Owl Forex EA Robot, but in a way that secures steady profitability. The statistics shows that there are three different market conditions:
Trend. We have higher highs and lower lows as time progresses, so in general the logic suggests that we need to buy when the trend is going up, and we need to sell when the trend is going down. The market is in a trending pattern approximately 30% of the time.
Counter trend (when the market is ranging). After the price has increased (or dropped) to a certain level, we can expect a correction, so we need to buy when the price has dropped and we need to sell when the price has gone up. The market is in a counter trend pattern approximately 60% of the time.
Break out. This is self-explainable. Typically the break outs happen immediately after major news has been released or a bank or another major financial player is placing large orders in a short period of time. Breakouts do not typically happen in more than 10% of the time.
So, the question is how do we know which state the
forex market currently is, and how long this condition will last before it changes? Most of the time we simply cannot, as we do not have the gift of seeing into the future, and anyone claiming differently needs to be held away from our funds.
However, the geography of the world and respectively the
forex market, does offer a well-known gap which, if used in wisely, can be the loop whole to use for our benefit. This has to do with the
forex market hours although though it is open 24 hours 5 days a week.
Every day, after the New York close at 17.00 EST (which is GMT -5 when DST is not applied in the USA) there is at least an hour before the next big player opens. The Asian session is preceded by Tokyo open (Japan does not use day light saving time during the summer) which happens at GMT +9. This gives us an hour of time with no big players on the market. During the period when EST has changed to DST (that is when New York is an hour ahead during the summer) we even have an hour more, as Japan do not move their clocks forward! Please note that GMT does not equal BCT (British central time) as the UK also change to DST during the summer and the time in Great Britain during that period is one hour ahead of GMT.
With no large banks or other big players on the
forex market, the pattern of the
currency pairs is ranging almost always, as there are simply not enough volumes being traded to sway the prices in a trending pattern, so we need to buy when the price has dropped and sell when it has gone up.
Of course we are not inventing the hot water here this is a fact which many
forex pros are well aware of, and some of them use it and profit from their knowledge. The trick is however that knowledge is not enough it needs to be taken as close to perfection as possible and in addition we need to be able to follow the trading strategy all the time, no exceptions, no impulsive decisions, no greed, no fear allowed and this can only be done by a
Forex Expert Advisor (EA) Robot!
Did we mention that
forex brokers did not like winners? and,
Is there a way to overcome that difficulty?
Yes, there is a very intelligent set of measures to overcome ANY type of dirty tricks in the brokers arsenal. This is what actually makes
B.O.R.N Night Owl Forex EA Robot different from any other
Forex robot or an
EA for automated trading! This is what makes
B.O.R.N Night Owl an undefeatable alias of the
Forex exchange trader and brings an average of over several hundred per cent annual profit even in the worst market conditions.
In the next chapters we will cover some of the tools available with
B.O.R.N Night Owl Forex EA Robot to take the most out of the forex market, and most importantly the extra protection integrated in the software against ANY possible measures being taken by brokers against
successful trading.
Tools of the Trade
Or What Does It Take To Be A Forex Pro?
As mentioned earlier, the way
B.O.R.N Night Owl Forex Pros Expert Advisor (EA) Robot implements the main traiding strategy is so undefeatable, that the percentage of
successful trades is as high as 94% of the total number of trades! These results are proven by tests over past periods as well as
forward tests and
live trading and are achieved when trading only the main strategy one hour of trade after New York close.
With such a high percentage of
successful trades, we have the chance of looking at implementing further weapons to increase the profitability, which under different circumstances would be somewhat dangerous to our balance.
Extra Effort
This is the option to take further advantage of the
market hours - an extra hour of trade is available every summer after EST has changed to DST in the United States. When EST changes to DST, what happens effectively is that New York moves the clock one hour forward. Tokyo never does that, which means that during the time when the United States the current time is set to DST we have one extra hour before Tokyo opens!
Well, it is not an easy task to always know what time it is in New YorkNote that the EU clocks move to DST not at the same time with the clocks in the USA, and they do not return to normal at the same time either. Asia is a completely different story Japan and Hong Kong never move the clocks as they do not use DST, and other countries in Asia do so. All this means that the dependency between different factors (like where the broker you use is located, does the country where their server is located use DST, and if yes do they follow the American rules or the European etc. ) is very difficult to follow without the help of a clever computerized assistant.
B.O.R.N Night Owl Forex EA Robot, however, does that for you, with an inbuilt algorithm to calculate all these without you having to place a number of clocks on the wall in front of you showing the time in New York, Tokyo, London and Central Europe :-).
Having in mind that the main
trading strategy is extremely conservative and allows for a comparatively limited number of trades (one to three or four, and sometimes no trades at all due to unfavorable market conditions), it may be a very good idea to take advantage of the extra effort option and increase the number of trades by approximately 50%.
The use of the extra effort option decreases the percentage of winning trades down to 88% - 90%, but increases the overall net profit! However, the maximum drop down is also increased from the typical for the main trading strategy 6% -13% to 15% - 20%, so if it does not suit your trading style, it can be switched off.
Recovery Mode
This is another very useful option that the exceptionally high percentage of
winning trades performed by
B.O.R.N Night Owl Forex Expert Advisor (EA) Robot allows. The losing trades are so rare, that whenever there is one,
B.O.R.N Night Owl EA may double the used amount of lots until the loss is recovered and the previous maximal balance is achieved.
The effect of using this option is that it saves time to profit from the
winning trades by reducing the time necessary to recover from an accidental loss.
Using this option has no effect on the percentage of winning trades - it simply increases the
profit factor for a particular period of time.
Balance Protect
If the account equity falls below certain percentage (defined by you) then
B.O.R.N Night Owl robot will close any open sales if there are any and will not trade further.
For example, if your initial balance was 100,000 and with time it gradually reached a maximum of 1,000,000, but then a loss or several losses brought the current
account equity below 700,000 (and you have set up balance protect of 70%) then the Balance Protect safety will be triggered to protect 70% of the highest achieved
account balance.
Tests show however that there has never been an occasion when
B.O.R.N Night Owl EA was unable to recover from any unfavourable conditions and possible losses.
Clever Money Management
This option is naturally a must for any trading practice.
It is typical for the main
trading strategy to aim at very small profits due to the low volumes and tight range during the
trading sessions, however clever stop loss and take profit are implemented in the code of the programme and they change even during an open trade to better correspond to the changing
forex exchange market conditions.
The obligatory choice between fixed lot size and an increasing with the account balance
lot size is implemented as well to give you the choice that better suits your
trading style and appetite.
Typically a trader would use 2%-3% of the
account free margin on each trade. If the
trading strategy allows for only one open deal at a time, this percentage may be increased to 5% and some
aggressive traders even use 10% of the free margin in one deal, however this should be considered an exception. With
B.O.R.N Night Owl Forex Pros EA Robot however, tests show that the strategy can take even much higher percentage throughout the years, including the insane 30%, which we would not recommend to anyone, of course. With the lot set to 20% however, the
drop down rarely exceeds 30%, which shows how profitable the idea behind
B.O.R.N Night Owl Forex EA Robot is and the only significant risk we take this way is to get incredibly rich
The Forex Market Weaponry
This is a war, not a battle. You cannot afford to only win once, and you need powerful weapons against any possible risk. Let us now go through the possible risks and then dive into the details of how each one of them is treated
Wrong fuel. That is to say that you need to have chosen the right
currency for your account, otherwise you may be in a situation where you increase your account balance, but the
account currency has lost a lot of its value meanwhile.
That is one thing that is obviously the responsibility of the traders themselves. The choice of the
account currency should be based on the conclusions one have reached based on
fundamental analysis of the market or other personal preferences.
Being a
scalper in its nature,
B.O.R.N Night Owl Forex Pros EA Robot is not driven mainly by the rules of the fundamental but the
technical analysis. It does not mean however that the
trading strategy does not care about what happens with the
currency pair chosen for the trade on a larger scale. An inbuilt
day direction filter takes part in the decision making process as to which orders to process, when to process them and what risk to take in terms of
lot size.
Profit is achieved, but not paid. There is always the risk of not being able to cash out on your profit that is if the broker simply refuses to pay.
Unfortunately some
forex brokers do that. It may happen that one reaches such a profit that the broker may decide they would rather declare insolvency (or at least make you spend a fortune at court to pursue your rights) rather than paying what is due to you.
The solution and probably the only reasonable approach to cover this risk is to open an account with such a broker which would rather pay your profit of several million (hopefully more) than taking the risk of bad image long live the internet as a mass media. Ideally this would be a large broker, preferably in the worlds top 10, with huge turnover and as many clients as possible.
Profit is achieved, but the broker closes your account. This is if your broker notices you profit by using an
expert advisor, they may simply close your account as they are afraid that you have a powerful weapon in the face of the
trading software you are using.
Brokers tend to allow the usage of
expert advisors (
forex ea), mostly because they believe that almost all
expert advisors simply cannot be profitable either because of the strategy used, or simply because the brokers are certain that the dirty tricks they use can defeat every possible strategy.
Sometimes however, a
profitable Forex expert advisor (
EA) appears and then the brokers need to act, and they act quickly. They may go as far as closing your account for no obvious reason.
The solution is the complete
Stealth technology implemented in
B.O.R.N Night Owl Forex EA Robot!
At no point of time will the broker understand that your trade is being performed by a
Forex EA
