Well my forex trading Robot has been working quite well so far, but I need it to get through a whole week on a real account now to see how it goes. I am using the BLESSING robot with a pre-set file I bought for a measly $56. So far quite intelligent trades. Let’s see how it deals with losses.
I am using the Kevin Lin set files on GBPUSD and USDJPY at the moment on a 5 minute chart. The backtesting I’ve done has been very successful.
What about the dollar?
The USD feels like it is on the edge of a huge cliff. At the moment the markets are only responding slightly to the shutdown, traders are keeping a level head and not reacting in any great big move. My theory is that if it DOES go it will be on the 17th October and a LOT of other things will go at the same time.
So where DO you put your money when the dollar crashes. Answer, Gold. Gold will rally like mad because Gold is not a fiat currency, you can’t “print” gold, the US will print more money if the need to but Gold is solid.
I am currently looking for a good entry point in Gold for a longer term bullish trade fuelled by the dollar collapse if it happens. If, by some miracle, they sort it out.