As part of every scalping strategy, it’s important to not only have a good way to enter trades, but a good way to manage and exit trades too One of the main reasons people fail at trading is because of the emotions that affect their judgement. We humans are designed to be the absolute worst traders because of our fear of loss. When price is going against us, we hold on to our losses in the hope that price would rise again, and if it doesn’t, we hold on and on and on until we blow up a large chunk of our account. However, when price is going in our favor, we panic about losing it and close off the entire trade and right after that, price goes all the way in our direction and we curse ourselves for taking our profits too quickly.
We humans, I repeat, are designed to be the absolute worst traders because of how the psychology of being a good trader goes against the psychology of basic human survival : be safe, don’t die, and store all the food you can for the upcoming winter.
Because of an in depth study into this, we have developed the one trading management system that will help us finally overcome this once and for all : TFA Enforcer.
The TFA Enforcer is an MT4 Trade Manager EA and is the most intelligent and powerful trade management system designed to work seamlessly with our auto fibonacci indicator : The TFA Sniper. So much that it is actually integrated into the TFA Sniper. It resides right on the top of the window and this is how it works :
For the TFA Sniper V2, we have also improved and simplified the built-in TFA Enforcer to make it much more practical and instead of the different stop loss methods, we made the system about a hundred times smarter so it decides the optimum stop loss areas for you and how to manage them. Here’s a breakdown of what it does (further explanation can be found on the MT4 Trade Manager EA Explanation Page) :
- Auto Trade – Finally!
- Allocate different “strength” points to each fibonacci wall, fibonacci pivot, dark red/green diamond
- Define the minimum combined “strength” required for a valid optimum calculated entry point to appear
- Customize your TFA Sniper by toggling and changing the colours of the EZ/DZ fibonacci boxes, diamonds, fibonacci pivots and daily high/low levels
- Define your maximum spread to allow trading
- Define the time before and after a huge news event that you would want to prevent trading
- Filter out strong news or strong + medium news events
- Define your minimum entry zone as EZ or DZ + EZ
- Define the minimum stop loss distance of each trade based on optimum calculated points (so you don’t get a trade that has a 1 pip stop loss)
- Definte the maximum stop loss distance of each trade based on optimum calculated points (so you don’t get a trade with a 100 pips stop loss)
- Stop Loss offset (eg. placing your stop loss 2 pips below/above the optimum calculated point)
- Define how “elastic” you want your entries and stop losses to be
- Define how sensitive you want the system to be when checking the spread alert
- Define the default take profit R:R and breakeven R:R
- Define the default risk % of each trade
- Define how many pips of profit you want to lock in once breakeven target is hit
- State whether you would want to close your opened winning/losing trade when news event approaches (recommended “true”)
- Set a time-interval between each opened and closed trade (prevents multiple entries around the same level due to price fluctuations)
Essentially, in TFA Sniper V2, the TFA Enforcer has been redesigned to help everyone make smarter decisions on both entries and exits. Gone are the days where you have to stare at a bunch of fibonacci boxes in the EZ/DZ zones and decide what are the key entries for you to take. It’s now fully automated based on how strict you want the entries to be.
The TFA Enforcer is now designed to work completely with “pending” orders – this is because many soldiers (thanks my brothers) have gave their feedback that waiting hours and hours for the perfect entry is tiring and it sometimes makes them compromise on their entries, also, they get afraid of missing out on the good entries and end up missing sleep or getting agitated when they are away from their computer screen and an alert gets sent to their handphones.
The Auto Trade Feature : This feature which you can see above is a button you can press that activates the auto trading – what it does is it helps you automatically set the “pending” orders (explained below) when they pop-up. You’re able to toggle between EZ/NZ/DZ depending on your risk preference.
The Pending Order Feature : So this feature (which is the most mind numbing hair rippingly tough feature I’ve encountered to date) has been designed to finally give our good soldiers the peace and assurance they crave that while they’re away spending good time with their family and loved ones, we have a crazily-intelligent TFA Enforcer working for them so that they won’t miss out on the good trades when they come.
When there is a possible trade entry based on the parameters you have defined, the “SELL” and “BUY” buttons would light up red and green. When you click “SELL” or “BUY”, it adds a pending order at the best possible entry identified by the thin red/yellow/red lines beside the grid for “SELL” trades and the green/yellow/green lines beside the grid for “BUY” trades. This pending order would be based on the risk % per trade and is always intelligently self-adjusting.
Clicking on “ADD BUY” or “ADD SELL” after you clicked the initial “BUY” or “SELL” would add a similar size pending order. This is useful for circumstances when you would like to increase the risk from 0.5% per trade to 1% when you find an incredibly great setup.
R:R to BE, R:R to TP and Risk/Trade features allow us to pre-set the risk parameters we are most comfortable with and upon executing of the trade, takes the stress of position management off our shoulders and mind by letting the TFA Enforcer handle it for us.
The Intelligent Spread Avoidance Enhancement Feature : Okay this is quite a long title, but with good reason! It is smarter now such that it doesn’t take you out of the pending order when spread gets too high (as we all know spread can fluctuate and yet price stays rather stagnant), so it calculates the proximity of price and your pending order and only cancels your pending order when it gets too close for comfort. Eg. When price is 5 pips away and spread is 4 pips. – so don’t get shocked when you see your pending orders cancelled, it’s because the TFA Spread Avoidance Enhancement Feature is just doing it’s job and protecting you. The key thing to note here is that even if spread gets too high and your entry is reached, it not only protects you by not entering, but also goes one step further and helps you re-enter when the spread get back to your favour.
So essentially, you can rest assured that the TFA Sniper always gets you in when the spread is in at the most optimum point such that it enhances your chances of winning – every single bit counts.
The TFA News Tracker is also revamped to help us avoid making silly mistakes during big news events. Previously we were relying on an external news system that told us the time to a news event. This caused many soldiers a lot of mistakes as often in the heat of the moment when price enters the DZ/EZ zones, we forget to check if it was driven by some unstable news event and if it had been – it usually stopped us out and we rued our careless mistake.
The TFA News Tracker is now built into the information panel of every currency pair so that we know whether it is affected by news events directly just by looking at it. The news event lights up “red” when we are within the danger period of “x minute before and after” a news event that we shouldn’t be trading. We have taken it one step further by enabling it to cancel existing pending orders so you don’t ever have to worry about news events causing a dent on your trading performance while you were away and letting your pending orders do their magic.
Essentially, you can see that the new TFA Enforcer has up its game considerably especially in the areas of giving your account a good defense against every single variable we can think of – news, spread, entry accuracy and position management. Never has trading with such incredible precision been easier.
“Money is made by sitting, not trading” ~ Jesse Livermore
It is our belief here that we don’t enter into a trade in the market unless there is a clear opportunity. Trading is just a means to make that money. If we watch the market every second and enter into unnecessary trades, we will most likely lose that money. That is why we developed the “TFA Scout” which is always constantly on the look out for us for the best trading opportunities. When an opportunity becomes available, it automatically sends a push notification to our phones telling us to be ready and also sends a pop-up on our desktop. This frees up our time to do something else like play with our kids, watch videos, read books and just live the life while the TFA Scout works tirelessly and endlessly watching out for the most opportune trading time for you. Once you receive the Scout alert, all you have to do is stroll over to your computer, wait for the potential entry and make the trade.
With the TFA Sniper V2, we can take an even longer extended stroll to the computer to watch our trade as the pending order would be in place for us. This TFA Scout feature is useful when you’re looking for manual trade entries like a Flag Formation trade or a swing trade and you’re looking for good potential entries (when price retraces into the DZ/EZ levels). So while the Pending Orders feature has allowed us to take a slower stroll and not rush to our computers to execute the trade, the TFA Scout still serves a good purpose in allowing us to watch how the market reacts off key fibonacci levels and also to potentially find good entries for longer term trades.