One of the problems with any trend based trading system/robot is that when the market changes direction guess what. You lose trades. That’s because we cannot ACTUALLY see what is going to happen in the future it’s just a best guess based on the near and distant past.
SO I have decided STRobot will no longer wait for trades to stop out, he now looks for the market to signal a direction change on HeikenAshi and then he closes the trades so instead of a minimum 37 pip stop STRobot can get out of losers within 10 pips in a flat market! Thus mathematically we win more trades because he cannot enter a trade on the same pair twice, so if the market changes direction he stays out until it has confirmed long term that’s where he is going. If a pair enters a new trend it won’t be long before STrobot is joining in.
Incidentally sometimes the market changes when we are in profit anyway so we close the trade sooner than if we just let it stop out. When the pair is 30 pips (or the specified amount) in profit this rule does not apply as there is a stop placed just inside the entry.
STROBOT has been quite keen on GBP this morning on two of my accounts ( one of them is strangely selling NZD CAD).
We are at a good place to buy and STRobot bought GBPNZD and GBPAUD looking for a long up.
STRobot is currently pulling a 300 pip basket. We’re close folks, the safe trades are trades we cannot lose
(The + value is the amount of pips we will get if the market suddenly turns round on all these trades.)
Ok So STRobot didn’t trade yesterday he was waiting for the right trade setups last night.
So we stopped out on a EURUSD short but TP’d a GBPNZD short leaving a 20 pip profit out of the two trades. Currently he has AUDJPY sell, AUDCHF sell, EURAUD long and EURNZD short on.
Let’s take a look at a couple of these. Something I’ve noticed over the years is that if you get a large PIN on a candle normally the market is telling us it’s thinking about going up there.
Let’s have a look at two trades we are in at the moment.
EURAUD long – see that big pin candle.. If you look back what NORMALLY happens is that at some point the market will fill that candle.
Here’s the next one.
This trade is already safe (STRobot has moved the stop inside entry) so we are looking for nice profits, I expect to see a closed 150 pip basket today or even 200 pips.
So Strobot has taken a EURCAD long today you can see he has chosen the bottom side of an upward channel.
He has been thinking about a LOT of trades but they don’t match up to his high standards!
So here is our first trade, AUDCHF you can see the entry is up in the air! The stop has been dragged well into profit (57pips in fact). So in fact we cannot lose this trade. STRobot automatically moves the stop inside the entry price when it gets to 30 pips (which you can set) and trails at 40 pips (which you can also set).
This is a USDJPY long that I would have taken but my Robot rejected it!!!
And this is a losing trade a loss of 38 pips vs a profit of 150. The two closed trades are in fact a basket close that happened earlier. STRobot aims for low risk trades with minimal pip risk. So we can let the winners run and the losers stop.
For those of you that use touch screens it can be mildly annoying to hit the keyboard! STROBOT Heiken ashi now has the clickable chart navigation controls the other daily chart has.
You can either select a chart just by pressing the SELECT CHART then the two currencies you want to see OR use the scroll arrows and just browse through the charts.
This makes it ideal for Tablet users as you can then navigate just using your finger!!! 3 charts give you all the major currencies and a robot to trade them!
Here’s the EURUSD chart. You can see it’s in the BUY zone at the moment so STROBOT when it starts trading at 16:05 might think about taking a short when it ralies back into the sell zone, no one in their right mind will be putting a long on the EUR at the moment.
Get ready to close off those USD trades unless you are safe (STROBOT moves the entry inside the STOP).
We’re expecting positive employment data today from the USA which might explain the happy climb of USDJPY this morning. STRobot put a trade on just before midnight last night (23:49) . So as it’s VERY safe and I can’t lose the trade I’ll just sit in and ride out NFP, the other trades are AUDCAD short and AUDNZD short neither of which are moving and have sat flat a long while.
I would err on the side of caution and close trades if the have USD in them but we shall see how the numbers bare out.