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Perfect example of how NOT to use automated systems like Avonko

maxorelaxo said: "Well, the BOE interest rate decision has introduced some volatility into my automated trading account, and in turn I felt that I had to throw this post out there so that traders out there new to system trading have fair warning I am writing this because I have been questioned a few times regarding performance variations with the Avonko Elite v4.0 EA, which many of you know that I use frequently and am not shy about recommending. To get the optimum performance (greatest overall pips) from this automated system (or any automated system for that matter), you will need to take great care to [B]avoid trading on news days[/B]. The reasoning is rather simple, and the better performance speaks for itself. Avonko Elite, or most other EAs for that matter, are designed to work based off of technical indicators. Avonko takes advantage of a relatively consistent breakout pattern in the GBP-USD that arises out of the relative opening and closing of important centralized currency markets. It exploits a pattern that affords a high probability of trading profits. Avonko Elite does not predict the future. This is why you must avoid the urge to let the system trade during scheduled news days. The release of any anticipated news or data typically results in an unpredictable directional price move. These are precisely the directional "bets" that automated systems are not designed to take. To willingly use your automated system on a day host to an important economic release is to suggest that your system can effectively predict the future - this is wrong and will cost you in the end. Take it from me - I have learned this through experience. Follow the instructions with the Avonko Elite EA - visit a website such as ForexFactory and review their economic release calendar to keep abreast of which scheduled news events are due to impact the currency you are trading (whether GBP-USD or EUR-JPY with Avonko). On these days, do not enable live trading with your EA. Six weeks from now you will look back at your impressive results and be grateful that you followed this prudent advice. As for accepting your thanks? I take Visa or Mastercard ;) I hope this post helps some of you who have been misguided about how to get the most out of your automated EAs - remember, any automated system must be used with discretion!"