- New Hope Trader software
- Setting up and testing New Hope Trader
New Hope Trader software
In November 2022, New Hope Inc. launched the beta testing of its new New Hope Trader software, which I was also able to test. The software in this version is available in four languages – English, Russian, Italian, and Chinese. In the future, we are planning to increase the range of languages according to users’ requests.
New Hope Trader software is arbitrage software, which compares quotes on New Hope’s server with quotes at your broker. In case of an arbitrage situation on a trading instrument, it opens transactions on the trading account, which you specify in the settings. The account must be opened in the terminal on the same VPS/VDS, where New Hope Trader is located.
Trading strategies included in the package of the considered software:
Classic is a classic strategy where fast and slow quotes are compared. Due to the fact that the robot receives quotes faster than the broker, the client can increase his income. This strategy is considered relatively old and is used much less frequently than it used to be. However, brokers with clients who make money using this strategy also exist. With this in mind, the classic version of trading robots additionally uses a trend-holding strategy. You can customize this robot by changing the default settings. This version is absolutely simple to use in practice and has many advantages. For example, long-term trades where profits can reach 100 percent.
Hidden is the leading and the best robot of New Hope Inc. for the last several years because of its unique strategy. The strategy, which was developed and fully implemented in 2018, has the following general advantages: orders of any duration, no simultaneous entry and exit points, and the signal are processed against its direction. Recently, many clients are switching to this strategy because it is much better in terms of hiding high-frequency trading.
Setting up and testing New Hope Trader
During my testing four software updates were released – the team is very responsive to the comments of testing traders. There is no lack of communication with the support – they respond to questions in a timely and professional manner.
New Hope Trader is installed into any folder on your workstation and works from there. After unpacking the delivered archive you need to run the file newhopetrader.exe, then enter the login and password received from New Hope Inc.
There is a “remember” checkbox here so that you don’t have to go back to enter your username/password the next time you log in to the program.
It has detailed instructions on installing and configuring the New Hope Trader software. I will not dwell on all the settings – there are manuals in all supported languages. There is nothing complicated in the settings – choose your language, connect your trading account, configure trading tools, choose your trading strategy and start working.
For arbitrage trading systems, it is crucial to have a lower ping to the server. In this review – to New Hope’s server and to the broker’s server. Based on the recommendation of the support, a VPS on Windows® 2019 with a location in London was started. The ping was 2 milliseconds to the New Hope server and 10 milliseconds to the broker’s server.
For testing, the technical support team set up one trading instrument for me – Nasdaq 100. When you buy the software, the set includes settings for different trading instruments. However, it is not recommended to use more than five trading instruments in trading at the same time.
When I ran the New Hope Trader software for the first time, I connected it to a real trading account using the Hidden strategy. I was not happy with the results.
The equity deposit has stably and smoothly descended from the initial $300 during the week, and the loss has amounted to $44.88 by the weekend, which is almost 15%. I have not noticed any attempts to increase the deposit in equity. Therefore, I used a demo account to test it further, while New Hope Trader v1.3.0 had already been released. I also decided to change my trading strategy to Classic.
I traded better on the Classic demo account and by the weekend the account was almost 6% profit.
The New Hope Trader software from New Hope Inc. will probably deserve attention after the finalization and final release. For now, the pluses include the development of a new product that can be used to test the operation of arbitrage trading on your own account prior to purchasing. The past disadvantages of the software consisting of small separate programs doing their own thing are becoming a thing of the past. At the moment, New Hope Trader has many flaws that are in the process of being fixed, among which, a huge disadvantage is the loss-making nature of trading on a real account.
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