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Track 'n Trade LIVE Forex
How to Use the Autopilot Tab
Video Transcript
In this video we want to go over and cover the Autopilot Tab in the control panel. This is not meant to be a complete lesson on the Autopilot, this is just an overview. There are complete lessons in the Autopilot Plug-in Education Center. This is just a quick overview of the Autopilot just to give you a heads up and an idea of where things are and how it works. I want to go down through it very quickly and just show you some of the highlighted features.
Now the first thing you'll see across the top is the Autopilot settings and a Q-Cal, you'll see a row a Q-Cal's down the right-hand side you'll also see a system setup. This control panel or this autopilot was designed to allow users or traders to be able to trade and create auto trading systems without requiring you to be a computer programmer. We programmed in behind the since all the capabilities necessary to setup an auto trading system. You just select through click and drag through the selection process the things you want the Autopilot to do. So now what we do is come in, and this of course is the first sections here the System Setup. This is where you save the different settings or save the different settings of your control panel of your autopilot that you might have. You might have two or three or four different settings and you would save those here with the new, save and delete.
This is the indicator that you might want to use when you are trading. You'll notice that we have two indicators turned on currently, we have the Bull 'n Bears and we have the MACD. The MACD is the one showing in the list here, we also have the Bulls 'n Bears in there. We have a Q-Cal button next to the indicator which "Q" stands for "Quick" and Cal automatically "calculates" the best settings for the indicator based on the settings for that indicator in the control panel.
I'm not going to go through every one of these but you'll notice that it is broken down into three different sections the first section is the System Setups, this is where you do the trading quantity, your time frame restraints, We have the Entry Strategy, this is how we are going to get into the market, this is where we go through and select the different types of entry strategies, whether we want to make that a market order or stop order or limit order. There are different thrust signal indicators so if the market goes too far too fast we have those types of filters to help you not get into markets that are too active or markets that are inactive. There are also trend capabilities to go in on both long trends or just short trends or multiple trends. So these are covered in greater detail in the Autopilot Plug-in Education Center.
We also have the Exit Strategy. This section tells you how we are going to get out of the market. You can see what we do is that we have put in this system you're are going to use, how you are going to enter the markets, and how you are going to exit the market. So this is a simple control panel allowing you to go through and set this up so you as a trader can have an auto trading system that will automatically have Track 'n Trade go through and place orders for you, manage the trades for you, without having to be a computer programmer.
Now we can also do back testing we can test our system and see how accurate it has been over time. I'm going to raise this accounting window back up again like this. This is the control Panel and I'm going to click on this section here where we are into the accounting, here you can see the accounting of all the trades, this is the autopilot button and how we get into the Autopilot section. So this pulls up initially you will see the pending orders, open orders, and closed orders buttons, we want to click the autopilot button. This is where we come in and see a chart that indicates how accurate our trading system is. It gives us some of the statistics. Let's come in and use a more preferred indicator this is currently going off of the MACD, let's come in and put this on our Bulls 'n Bears system, that's a little better looking.
What were going to do is come in and we have a number of ways to actually review the different trades it has made and see how it's working. This particular example we have a 147 trades 95 round turns with a 54% winning ratio. Repeated wins we have 6 wins in a row, and you'll notice we have number of different statistics across the top of here, again I'm not going to go over every one of these in detail they are covered in depth in another place. But we can come in and customize the details by right-clicking on the header and select column setup. In the dialogue box you can choose the type of format or the type of information that you want to be displayed in that window for you. and if you are not exactly sure what something means these are hyperlinks and you can say what does it mean when we say Profit Factor, so you can click on that and you'll get a detailed description of what Profit Factor means, what good Profit Factors are and what bad ones are. Hit okay and you can then add Profit factor into your list of what you would like to see. Hit okay and that is what gives us our statistics across this window.
The initial balance starts off with an initial balance for our back testing, however many fees, of course in the Forex market there are no fees because we are working off a spread. The start analytical date, the time, the end date, and time and whether you want it to set the date automatically based on the timeframe of the current market and then to have it automatically recalculate as you change different settings within the window.
So that is a little overview of this particular window, when we are ready to start trading we simply click the start trading button, we have some disclaimers in here. I accept the terms say okay and now Track 'n Trade draws a green line where it has taken over now and begins trading, taking over the trading based on the settings that we have here in the Autopilot window and based on the historical data that we have accumulated.