Strobot spotted an interesting flat market with GBPAUD and placed an entry order back at 6:30am this morning, the trade took and has broken quite an important level so is now rallied up, we are 67 pips in profit with a target of 240 pips at the sub fib level (this is essentially a 61.8% fib level sitting between the daily 23.6% and 61.8%), STRobot sometimes uses these levels.
Current Trades (in pips)
Annoyingly while I was writing the post we got up to 81 pips
Starting to day with the hourly chart on one of my live accounts you can see a drop of 100 pips on EURNZD, the FIB LINE 61.8% is our target (just above). STROBOT predicted the fall yesterday in fact and entered the trade @ 21:35 GMT yesterday evening, the pair bounced back up but kept within our stop and has now broken down. Target is a lovely 228 pips.
Here’s the 15 minute chart.
As you can see it’s a great entry and STROBOT has come out of the turn rather nicely.
UPDATE GOLD STAR TO STROBOT
STROBOT just TP’d this trade for 228.10 PIPS Awesome, the pair has now started to bounce back of of the 61.8% fib level.
Sometimes STRobot does really amazing trades check out this FIB level trade where he took an entry from he 23.6 to the 38.2 and closed at target
Look at the way STRobot set up the trade you can see he’s thinking about the shorts for quite a while before the entry happened and his target was perfect for 134 pips profit.
So strobot took a USDCAD short today yesterday you can see how he caught the break down (B) and then the (H)look back has been protected and now we are into the (G)o for another 50/60 pips. You will notice the trailing stop is held back above the hook automatically.
STRobot adjusts the trailing stop based on the movement in the market, if the stop is too close you miss out on pips profit!
So we are holding now and targeting 212 pips. I suspect STrobot will add another trade shortly but we shall see.
The pair is running at a strength of 14.63%.
You may have noticed I’ve not posted for about a month that’s because I’ve been backtesting and working on a new version of STRobot. It’s been a huge job.
STRobot still uses fib levels for targets. But has a lot more clever things:-
– ability to add to trades to a trade so if he sees opportunities for further trades he will place them once the trade is safe (stop inside entry).
– Better entries
– Trailing stop now trails even when the trade is not in profit to reduce risk
– Entries are based on 4 hour timeframe and 15 minutes at the same time- updated all the indicators.
So let’s look at a live trade I have on.
You can see STROBOT now has a strength meter built into the trading output.
So lets have a look at a trade in detail.
STRobot spotted CADJPY for an entry after it had bounced off of the 61.8% fib level. He waited for a break down and took the trade at the point shown, this is the hourly chart and you can see a falling trend. You’ll see how STROBOT identifies 4 hour trends so now he’s looking for a run down to the next fib level @ 38.2% He’ll probably add a few trades as this pair is not moving hugely as we go down.
Here’s the 15 min.
I don’t know how far we will get because the 200 pip target is quite a long way away but we shall see.
Anyway there we go – here comes Monday
Introducing STVolitlity, One of the biggest problems for any EA is flat markets. You get more false signals thane can deal with – part of the risk of Forex trading actually. Anyway – You can check out the backtests of the latest version 70.5 which aims to deal with flat markets.
During my development of this indicator I noticed that when a market begins to move in power, or changes direction that certain behaviours happen, you can see in the EURCAD the lowest indicator, see how the market crosses the 0 line indicating a new move or trend.
STRobot looks to trade on these indications of strength coming into the market – ofcourse, you can’t predict the future but you can see that he sees pretty much what’s going on – flat markets are indicated by blank areas in the STRobotRSI indicator, the second one up. So using these two things together we can try and anticipate bullish or bearish moves out of congestion.
There is a lot of news this week so it will be interesting to see what performance we get from STRobot.
http://www.strobot.rocks – click BACKTESTS to see the results of backtests from this version.
So STRobot v70.3/4 has been trading really really well. I have some test accounts Live ones that I leave alone and I’ve just put a $50USD one on, STRobot has traded it up to $118 in 24 hours using 0.02 lot size. Click Here to see the results! (300 pips profit approximately)
So I thought I’d go through 3 trades STRobot has taken and you can see the artificial intelligence working.
STRobot detects a fast break in price, he then will place a trade straight away – ideal for news.
2. The HEDGE – STRobot had a long trade on but the market changed direction so he set up a hedge short to cover the losses of the long – one of these trades will stop out, the other will take profit covering the cost of the first trade, and ofcourse making a small profit.
2. The Slow move – STROBOT sees a potential break out of a range so places an entry order above the level it needs to break. Then as the market moves up he will let the trade happen. In this case the price has broken the level and we are waiting for the profits!
STRobot has a trailing stop system that tries to avoid getting close to soon, every fast move or slow move is followed by a pull back you will lose at trading if you let your stops run and close your profits early. You should calculate your targets and have a big trailing stop to trail up behind it, if you let it stop out in profit at your trailing stop level. STRobot’s trailing stop works more using fib levels and strength, so as the market gets closer to our target so does our trailing stop.
STRobot just took 3 NZD trades at once, one has already stopped out in profit. Looks like NZD did a sudden rally, the latest version of STROBOT (v70.3) can detect a sudden move in a pair and take a trade instantly, normally STRobot places entry order in advance of a break, but if there is a sudden move he is able to get into it very very quickly.
As you can see we are half way to target already, I expect a pull back first then a gradual run up to target.
Last nights boring trade just stopped out in profit.
So I’ll wait to see how these trades play out!
So STRobot has chosen a NZDUSD short. You can see he has set an entry order so when the market moves down after the initial pull back he’ll take the trade to continue the trade bearish.
Our GBPJPY short was brilliant earlier, I had nearly put the first chart up when it TP’d!!!!
So we’ll wait over night and see what happens.
STRobot has taken an interesting short on GBPJPY it looks like a nice bounce off of the 38.2% fib level targeting the 61.8%. We have Carney speaking later do we have a head and shoulders reversal in progress?
I have also marked the Buy/SELL STRobot signals on this chart so you can see what it does. STRobot ofcourse trades automatically using entry orders. So the fake ones tend to be taken out because they never happen.
As you can see STRobot has a number of good entries on this chart – not forgetting he trades 40 currency pairs.
Target reached. Closed @ 62.50 pips profit!