BORN Night Owl Forex EA Reviewed

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 forex 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 trading experience and/or knowledge;
• They do not have a winning forex 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 forex 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 Forexpros.

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 forex strategy, discipline to follow the strategy, discipline not to allow fear or greed dictate your actions, and powerful weapons against the broker’s dirty tricks if you want to be a forexpro.

B.O.R.N Night Owl is a highly sophisticated Pro Forex robot (Forex EA) - Forex 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 forex 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 forex 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 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 forex 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 forex 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 (Forex EA)!

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 Robot different from any other Forex robot or a Forex EA for automated trading! This is what makes B.O.R.N Night Owl Forex EA 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 Expert Advisor 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 forex 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 Expert Advisor 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 forex 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 York…Note 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 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 (Forex EA) allows. The losing trades are so rare, that whenever there is one, B.O.R.N Night Owl Forex Robot 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 Forex 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 Forex 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 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 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 EA 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 forex 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 world’s top 10, with huge turnover and as many clients as possible.

• Profit is achieved, but the forex broker closes your trading account. This is if your broker notices you profit by using a forex 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 forex expert advisors (forex eas), 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 (forex 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 Robot!

At no point of time will the broker understand that your trade is being performed by a Forex EA trading software. B.O.R.N Night Owl Forex EA does not reveal its presence to the broker in any way – it does not send anything that can possibly make the broker even suspect that it is not a human being sending the orders. Even the stop loss and take profit levels declared to the broker server with each order are false! They serve only one purpose – in case of a disconnection from internet or the power supply. The real stop loss and take profit levels are hidden, being serviced entirely by B.O.R.N Night Owl Forex EA internally by complex algorithms to reflect any change in the market conditions.

 

• The broker increases the spread during the GMT night market hours over the acceptable levels thus turning the winning strategy into a losing one.

The solution is the state of the art Spread Reducer implemented into B.O.R.N Night Owl Forex Robot.

The Spread Reducer takes care of monitoring the spread level constantly and helps with taking the decision when to open and close a trade.

 

• The broker is “hunting” your stop loss levels – this is when the broker is manipulating the data feed so that if the price is near your declared stop loss level, they move it slightly in the same direction to trigger the stop loss. A similar approach is adopted to prevent triggering the take profit levels as well.

 

The solution to this problem is in a complex group of algorithms within B.O.R.N Night Owl Forex Robot which function as a whole and serve many purposes.

In brief, the only stop loss and take profit levels that the broker will ever see are completely false and way beyond the real ones, which will always be invisible to the forex broker. The only reason to declare stop loss and take profit levels to the server is that in case of disconnection of the client terminal from internet or the power supply there will be at least some levels marked with the broker to end the trade. These are not that far away from the current price of course so that they may possibly cause a margin call.

The real stop loss and take profit are recalculated at every tick and reflect the true condition of the market. They are different depending on whether the session is still on or it has ended, what the volatility currently is, what was the direction of the price action during the last day etc.

 

• The broker re-quotes to effectively achieve higher spread levels. This practice is not uncommon unfortunately. Re-quotes happen when between the Order Send or Order Close commands which have been sent by the client’s terminal (regardless whether you are trading manually or by using automated software) and the time the broker server receives the request the price has changed. In such a case the broker informs you that the price has changed and asks whether you accept the new prices to open or close a position. This gives the broker an opportunity to delay the execution of the instant order, thus expecting a new level which may not be that appropriate for you…

This is probably one of the worst scenarios that can happen to you regardless of whether you are trading manually or using automated software. If this is a common practice with the broker you use and you trade manually, the effect is that you are trading at a much higher spread than declared. This happens because orders are not executed immediately but with a slight delay from the broker, waiting for better prices for them (and worse for you…).

The solution to this with B.O.R.N Night Owl Forex Robot has two sides.

One is with the type of trading strategy itself. Trading the ranging market means you are selling when the prices are high and buying when the prices are low. In our case the conditions to open a short order for example are met when the price reaches and exceeds certain level. At that time the price action is falling and if the broker delays the execution of the order, we can be almost certain that the price will continue its falling long enough until we get the right quote. Same applies for long orders.

In other words the strategy type means that order execution delay from the broker is not such a weapon that it would be if we were trading a different type of strategy.

Another one is a complex set of rules coded in B.O.R.N Night Owl Forex EA about how to treat the order sending, order modifying and order closing commands depending on the market conditions and broker’s behavior. Once the conditions are met for one of those types of commands to be sent to the broker, B.O.R.N Night Owl Forex Robot insists on getting the best possible conditions and does not quit until the desired levels are achieved. The typical slippage allowed in either manual trading or other kind of expert advisors is reduced in B.O.R.N Night Owl Forex EA to 1.0 pip only.

 

The Conclusion

Trading manually is probably something most forex traders will never abandon, as this is something that brings adrenaline, as they keep this feeling of being in control of the situation, as they would never trust a “forex robot” or a forex EA with their money.

Manual trading has its downsides though.

You need to be in front of the computer. Your trade time is limited to the time you can spend there, even if you are a night person.
You feel. This is what makes you human by its effect on your decision making process. Greed, fear, impulsive decisions – all these things prevent you from being able to stick to a strategy when trading manually.
You do not have some of the forex robot’s advanced features, or at least you are not capable of calculating this many factors in real time to be able to have the proper information in time.
You need rest, you need holidays, you get sick sometimes and sometimes you just do not feel like trading. The Forex Robot (forex ea) is there all the time for you – analyzing the market conditions 24/5 and extracting profit for you in a consistent manner that no human being is capable of.

B.O.R.N Night Owl is one of the very few Forex Robots (EAs) existing that successfully implements a winning strategy to your benefit. Any forex forum will confirm that the Night Owl Forex EA is simply a forex factory for easy money!

You can purchase this state of the art Forex Robot (Forex EA) at an incredibly low price for what it will bring in exchange – depending on your account balance being traded, it may even pay for itself in one single day!

Please allow the robot to trade for at least several months � not all periods are full of winning trades only, but with time you will notice that despite some difficult periods your balance is likely to make a steady progress to the better! Any forexpro will confirm that B.O.R.N Night Owl Forex Robot is nothing but a forex factory for easy money!
Do not forget to get a cheap VPS to install your forex robot on!

Thank you for taking the time to read through this strategy presentation and

 

Happy trading!