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Difficult trading times! Crossing of 200 Daily SMA going on! Be careful

So yesterday’s trades STROBOT put on a CHFJPY that stopped 19 pips and AUDJPY long and NZDJPY long that went up 30 pips in about 8 hours each but then dropped like a brick on bad news stopping out with a small profit on each.

Not a brilliant day.

So I’ve closed off all my orders because of the AUD move that blasted pairs like AUDCHF down below the 200 daily SMA and we know what that means, we could be heading off for a long run somewhere bearish. The AUD bearish? Surely not!

So with no orders open we’re waiting for some trading opportunities.

STROBOT now has a mood “bored” means the markets are flat, “excited” means it’s moving! … right now we’re bored.

 

84.391.119.20 Screen Capture 16http://www.iwanttobeaforextrader.com

Flat markets but will the dragon awaken today?

STRobot is only recommending a target of a measly 31 pips this morning basically due to the lack of movement in the markets during the Easter break.

I should imagine we could have some movement later at 13:30 with USD news which will probably be bad.

Incidentally I have been monitoring some of the posts by brokers, my theory they are out to get you was yet again confirmed yesterday on FXSTREET (FXCM) saying the EUR would rally up…it’s done nothing like it yet, just continued dropping.

so STROBOT is trading AUDJPY long in the trade 8 pips profit hanging around having completed a hook looking to go north.

STROBOT is looking for NZDJPY long, CHFJPY long, EURAUD short and AUDCHF long trades that are sitting as stop orders at present, CHFJPY looks like it may go on at any time.

Just need something to give us a kick!

http://www.iwanttobeaforextrader.com

STRobot is no longer for sale.

I have decided to pull the STRobot Forex trading robot from sale along with the SignalTrader Trading system, as I am a one man operation I want to spend more time developing algorithms and refining the robot methodology.

One of the things I do hear a lot is “If it’s so good why don’t you just trade it yourself.”, I think there is a lot to be said for this and I have a great bunch of traders using the software and developing ideas with me.

If you are interested I may be persuaded to set up another trader but my focus is really on the software development.

Paul.

http://www.iwanttobeaforertrader.com

STROBOT Trades closed prior to FOMC and a doubled account.

As a safety measure I shut down my STROBOT trades this morning. STROBOT managed in 24 hours to pull around 150 to 175 pips profit.

84 pips , 61 pips and 60 pips and 15 pips and 0.1 pips,  here is  a screen shot of the $100 account.

84.391.119.20 Screen Capture 15

I have upped my lot size slightly now and we are looking for new trade orders. I wrote yesterday about the trader that doubled a test account with the robot. He kindly allowed me to post a screen shot of the account.

eurnzd-m15-direct-fx-trading

 

http://www.iwanttobeaforextrader.com < STRobot.

(Please note past performance is not an indication of future performance, please remember the Forex markets are incredibly volatile).

STRobot doubled a customers account LAST NIGHT

Let me give you an example of a live trading account with $100 USD in it.

STRobot did make two losses yesterday of 60 pips but you can see compared to what it achieved overnight.

84.391.119.20 Screen Capture 14

 

I have now stopped trading manually.

http://www.iwanttobeaforextrader.com

(Please note past performance is no indication of future success and you should not place the orders shown as STRobot dynamically modifies the orders as the market moves).

How does STROBOT work?

The Signaltrader trading Robot works by the following:-

1. recognising overall direction on the trade on the daily/weekly chart using the 200 period daily simple moving average.

2. Managing both orders and trades to be in the right place at the right time, the robot is able to identify changes of direction in the markets and continuation trades, even in slow and awkward markets by making a comparison of the strength and weakness of all major currencies against each other.

3. When a trade is on, managing the stop loss to protect your trades and riding the take profits as long as possible. Most STRobot trades stop out in profit, even if its only a few pips.

4. The stops are managed using a combination of RSI and calculated risk management backed up by currency strength/weakness.

for more details check out http://www.iwanttobeaforextrader.com

GBPCHF a demonstration of the 200 period Daily MA #forex #fxtalk

SignalTrader Trading Systems Robot uses the 200 period Daily MA to confirm direction of trade along with the daily trend. The two combined is powerful, in fact it trades WITH the 200MA/Daily trend and also when there is divergence it looks for gold reversal signals  by comparing currency strengths.

Now – ofcourse the robot does not trade any GBP trades because GBP is too volatile and difficult to trade without large stops, when GBP squares up it often doesn’t go half way back, but the whole way back.

Just check this out, the thick white line is the 200 period daily Simple Moving Average, look at how it acts like a floor for the pair, ofcourse SignalTrader plots the daily MA on the 15 minute chart ( you can’t do this normally with MT4).

So here is the daily chart, now sterling has bounced off of the 200MA if I was interested in trading it this would be a good place, however as the target is too small at 53 pips I will stay out.

84.391.119.20 Screen Capture 8Here is the 15 minute chart, you can see the daily 200MA plotted here

 

84.391.119.20 Screen Capture 7Look at the gold signal early on in the chart and the dotted white line that is where ST said it would bounce, then it has hit the 200MA daily SMA  and guess what both of them have been too much for it!

Now – the thing here to remember is that GBP is a difficult trade at the best of times but it does show just how powerful this point can be.

The temptation to take a long manual SignalTrader trade may get the better of me but at the moment I’m just letting Strobot trade.

http://www.iwanttobeaforextrader.com

 

 

 

The problem of robots and whipsaws. #forex #fxtalk

I started noticing things about the stopped out trades for the SignalTrader Trading System Robot, lovingly known as stRobot

All of them were caused by whipsaws, sudden, unexplained moves against the trade, one of them for instance entered the trade order and then stopped out 2 MINUTES LATER!!!!

So I have been ENTERING THE TRADE on the top of the whipsaw. So last tonight there was one on EURNZD and another on AUDJPY. Here is the AUDJPY one which is much easier to see.

 

 

84.391.119.20 Screen Capture 4So as you can see I had a long entry order on this pair, it jumped up took my long entry order and slam-dunked it straight to the stop loss.

So I entered the TRADE again at the bottom of the whipsaw. Here’s my reasoning.

a. My entry was good – STrobot had done masses of calculations, my risk reward was good, we were trading away from the 200MA daily figure sitting at 92.189 with the pair at 95.751 that’s a long way away and I know the 200 daily SMA can act  a bit like a magnet unless it’s properly broken away, but it has!

b. The stop was realistic, it was set in 37 pips away from the entry, not too much but a small loss if it went, if it broke below the bottom of the congested area I would want to be out.

Everything about this trade was great until they whipsawed me. Until i worked out this technique I would just have a little moan when my trade stopped out like this and go wait for the next trade! But why do that when the market has said what it’s doing already – so I just head straight back into the trade at the bottom of the whipsaw. Entering actually an hour or so later (only because I was trying to sleep) @ 95.728, targets as before, stops as before.

Both the trades that stopped last night are now a few hours into them 15 pips total profit. Yesterday I took 35 pips profit from a long on EURJPY that only stopped (back to 35 pips profit) because of some news (the main cause of whipsaws).

It’s no use crying over spilt whipsaws, if the trade is good, the whipsaw is just a temporary set back, if your lot sizes are set correctly @ 1% (e.g. $100USD= 0.01) you will be able to cope with this kind of movement.

http://www.iwanttobeaforextrader.com

 

 

 

 

EURJPY Manual Trade Setup

Well the strobot software has been updated over the weekend and now uses the 200 period daily SMA in with the trend and reversal signals to verify a trade.

I’m interested in  a EURJPY manual trade and in fact I’m already in a long on this pair. SignalTrader Trading System has given me a target of 143.245 initially.

Screenshot 2014-03-31 08.55.12

 

I suspect the Robot will take a trade on this pair but at present STRobot is waiting for a retrace shown by the gold indicator on the 15 min chart.

 

Screenshot 2014-03-31 09.20.36

Last night’s GBPCHF short & other interesting trading things.

strobotmasterWell GBPCHF had a lovely rally this morning and stopped me out, that’s fine it’s the way it goes, I have however put a new short stop order on down at 1.47333 which is being controlled by SignalTrader, the weekly trend is still bearish and this could be a top…. if this doesn’t happen I’ll give up on it.

The truth about trading

Firstly you should test any system with 1000 trades, testing it on 10 trades and deciding it doesn’t work is a waste of time.

a. The market changes – your trading system may work best in one set of market conditions and worst in another
b. Even the biggest Forex Traders have bad trades, Morgan Stanley stopped out yesterday on EURCAD long, if they had used SignalTrader Trading System the trade would not been taken, my entry order from the robot is still sitting there.
c. If anyone quotes MONEY, I am already suspicious, here’s why.

“See how I made $50000 in 1 hour on the forex”, look the truth is if you have a HUGE account you can make that sort of money with small moves, however it’s irrelevant for the small guy with a small $200 account. If he’s only trading a tiny lot size, your 15 pip move that made you $50k would only make him, well, a psaltry $0.15. How about we make you trade with a $200 account and see how you get on?

d. Persevere with it – adapt your system to the markets if you can, a risk off situation is completely different from a risk on situation.
e. Be honest if you lose trades! It’s ok! EVERY trader loses trades. The main thing is to know that the set up you had was valid at the time.

Robots

I always said I did not like Robots, I don’t but STRobot is ok, a lot of robots use different algorithms to trade, STRobot simply looks for a reversal in the currency pairs, it looks for minimum 55 pip target which it calculates itself, it sets up the stops and does the job. It loses trades, it wins trades, yesterday it won a 66 pip trade and today it lost 38 pips. That’s ok, it has good targets which I can adjust, in fact I’m beginning to go for longer targets than STRobot goes for as it moves the stop up behind the profit. (it is much more sophisticated than a trailing stop by the way).

The only thing I ask is STRobot remembers who’s boss.

http://www.iwanttobeaforextrader.com

Do big institutions use Robots? Ofcourse.