STROBOT Adding trades to long USDCAD

So STROBOT has set up USDCAD and has a trade in currently at 80 pips profit, he has set up another trade at entry 1.23375 for a long.

So he is building trades on existing profits.

The original entry order set at A and the new entry order at B so as we get the break out of the second area of congestion we are able to build up the trade for the new targets.

111pips profit target in the original trade.

http://www.strobot.rocks

Fib level trade by STROBOT

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.

http://www.strobot.rocks

 

GBPUSD Long entry order (manual)

Ok so we have GBP GDP figures this morning and I have been looking for a suitable trade. GBPUSD is of prime interest, I’ve used STROBOT’s set up on it and the chart to take an entry order after the last support @ 1.70360. You can see that the pair has been in a bullish trend for a whole but has been dropping with USD strength.

My stop is at 1.69612 Strobot’s suggested stop and my TP at 1.71908.

This is purely a manual speculative trade. I want to give the pair room to whipsaw which it probably will. thus my entry is 42 pips from price. This pair can move a lot of pips.

So target is 145 pips from my entry but we have to get 42 pips up first. With this pair this is absolutely not a problem and a 200 pip move is not uncommon, the last was on the 12 of June.

And then…

STROBOT decided he’d take a LONG GBPCHF!!! 2 minutes before news – a much better choice I think.

 

http://www.strobot.co.uk

GBPAUD SignalTrader Divergence

Overnight the GPBAUD pair railed up against my trade. Right now it is returning back down from whence it came.

As you can see from this daily chart, the SignalTrader Massive (that’s the bottom indicator) is showing divergence where the price has been going up but BOTH AUD and GBP are falling. This NORMALLY results in a reversal of price, so the price will fall and be drawn to the downside by both pairs falling. At present GBP has become weaker than AUD we’re just waiting for the break.

My AUDNZD is sitting 103 pips profit 20 pips to target in a short opened 5 days ago.

http://www.strobot.co.uk

The truth about trading systems.

Forex trading is complicated.

The amount of people who offer the latest “incredible system” probably belie the difficulty that traders face.

1. When are you going to place a trade?
2. What are your targets/stops?
3. When do you abort a trade?
4. What conditions or rules do you have about staying in or getting out?

The best plan you can have is actually to pick a trading style and system that suits your temperament. If you know other’s ask your friends. The truth is that the big rally trades, the fast, make 100 pips in 3 seconds trades are rare. Most trades that make that sort of pips take at least 3 to 5 days in current market climates.

When you have picked your trading system WORK WITH IT FOR 1 YEAR. You need to learn how to deal with it in all kinds of trading environments. Sometimes the markets are flat, there is low participation so it is much harder to trade, the market won’t commit.

The best way to fail with the Forex is never to have a system. I have met a few traders who upon losing a lot of money said they went on “gut-instinct” as a system, gut-instinct is really the biggest killer in the forex.

If you have set up a trade correclty and you are following your system and it starts going against you, only pull out if you have NON-EMOTIONAL reasons to do so. If the pair has moved south when you were in a long, look for the reasons for this. If it is someone making a speech the chances are it will return to price.

I’m sitting here now with 118 pips profit in 3 trades, one losing -5 pips and the others winning 78 pips and 44 pips. One trade has been on 6 days, another 24 hours and the last one just went on. All of these are “strobot” trades.

Getting to this point has been very painful. You have the realisation that the markets are hard to trade. That everyone has losing streaks and when you hit a winning streak you must understand what you are doing right.

http://www.iwanttobeaforextrader.com

STRobot doubled a customers account LAST NIGHT

Let me give you an example of a live trading account with $100 USD in it.

STRobot did make two losses yesterday of 60 pips but you can see compared to what it achieved overnight.

 

I have now stopped trading manually.

http://www.iwanttobeaforextrader.com

(Please note past performance is no indication of future success and you should not place the orders shown as STRobot dynamically modifies the orders as the market moves).

GBPCHF a demonstration of the 200 period Daily MA #forex #fxtalk

SignalTrader Trading Systems Robot uses the 200 period Daily MA to confirm direction of trade along with the daily trend. The two combined is powerful, in fact it trades WITH the 200MA/Daily trend and also when there is divergence it looks for gold reversal signals  by comparing currency strengths.

Now – ofcourse the robot does not trade any GBP trades because GBP is too volatile and difficult to trade without large stops, when GBP squares up it often doesn’t go half way back, but the whole way back.

Just check this out, the thick white line is the 200 period daily Simple Moving Average, look at how it acts like a floor for the pair, ofcourse SignalTrader plots the daily MA on the 15 minute chart ( you can’t do this normally with MT4).

So here is the daily chart, now sterling has bounced off of the 200MA if I was interested in trading it this would be a good place, however as the target is too small at 53 pips I will stay out.

Here is the 15 minute chart, you can see the daily 200MA plotted here

 

Look at the gold signal early on in the chart and the dotted white line that is where ST said it would bounce, then it has hit the 200MA daily SMA  and guess what both of them have been too much for it!

Now – the thing here to remember is that GBP is a difficult trade at the best of times but it does show just how powerful this point can be.

The temptation to take a long manual SignalTrader trade may get the better of me but at the moment I’m just letting Strobot trade.

http://www.iwanttobeaforextrader.com