I like to write here when things don’t go so well so you can see that I’m being honest about STRobot, so basically in the last 24 hours we have had some big profits but the markets took them all back, this was pretty much because STRobot closed trades that went against him regardless of if they were in profit or not. So in a flat market you would take a lot of trades, but they would then close with a small loss – sounds good, protection? No, worked really badly, so the policy has been changed now.
- Only close trades when in profit
- Close trades when you detect the market going the opposite direction.
- Close trades when they stop out against the trailing stop (which is calculated based on ATR so you don’t get too close)
This simple plan is proving effective, we don’t take so many trades (sorry broker, less spread) and the trade has a good chance of getting into profit even if STRobot closes it whipsawing back the other way.
I noticed a couple of the brokers pushed the spread up on GBPAUD, STRobot does not enter trades with a higher spread than 7 pips thus we don’t enter trades where we would have to get 10 pips just to break even.
Traders generally (not just robots) like things that move in a good direction.
So Take a look at what he traded last night. This is just one pair, what a nightmare! I have circled TWO nasty whipsaws, STRobot is in a short at the moment on this pair which looks like a good plan! 🙂
I have also developed a web page for the traders – STRobot talks to my external servers so we are able to do further analysis of the trades. So I have developed a web portal that provides the traders with a summary of all their open live trades. As you can see from this image we have some nice trades on and that are building up!
The 3 accounts I have are developing nicely.
The traders will later today will be able to close trades on their MT4 from the web! Although STRobot can trade news even whipsaws quite happily.
You can see 3 accounts I’m running here.