So STRobot did brilliantly yesterday with some wonderful GBP trades.
GPBJPY and GPBUSD were both bullish trades.
These would have been bigger trades but at the moment we have gone into “FOMC sit and do nothing” mode when the markets just hang around. It’s a dangerous time to trade this brings me to the problem of stops.
This kind of hanging around in the market is really hard to trade – I recommend the following options:-
– Go flat and don’t trade till 2 hours after FOMC
– Drop your lot size down to something small to reflect the risk. If you get a zillion pips with a small lot size great, if you lose 40 pips fine.
– Keep your stops small – STRobot has now gone down to 40 pips.
Now we wait for 7pm when all hell breaks loose. Really the pain starts a day before in fact from last night at about 10pm GMT. It will be over soon thankfully.