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Managing a Robot FOMC example.

Robots need managing. The amount of traders that think they can set it and forget it. The key here is profit taking.

For example, last night was FOMC. FOMC can cause major ructions in the market, it can cause whipsaws as the market responds to the news and speeches from the USA.

A sensible plan before both FOMC and NON FARM PAYROLLS is to go flat. The other thing you can do to automatically profit take if you have your STROBOT set up is to set “close all trades when profit reaches”.

Depending on your lot size – this will mean that when the basket of trades you have reaches a certain level of profit, the robot will automatically go flat. Locking in the trades. That means closing off all winning and losing trades.

http://www.strobot.co.uk

 

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