I’m in the 2nd of two trades with NZD CAD. The first one achieved target above the Fib level at 0.8471 and the second one took on at 0.84685.http://www.strobot.rocks
Ok I have trade setups now on GBPCHF and GBPJPY I’m into getting two trades out of each.
You can see that GBP is now pushing away from CHF (A) and that it bounced nicely off the top of the brearish trend (B), we have market participation and structure for the shorts – BUT we do have UK CPI @ 9:30, I would imagine the markets will use that as an excuse to force down to the bottom of the first trend.
GBPJPY has the same sort of story, yesterday (A) you can see the pair has bounced off the trend line and also that the software has drawn a white dot above the candle which is a sell signal. There’s not much of a trade before support but I’m thinking we are going right down to the bottom of the trend. (B)
http://www.strobot.co.uk < find out how you can get charts like this!
I guarantee that you have never seen anything like this when trading with MT4. Robot and Manual trading support and resistance
The Forex works shifts. If you place a trade during the day GMT (EUR/USD session) it will pull back on you during the Asian session. If you place a trade in the Asian session, guess what, it will pul back on you in the EUR/USD session.
Thus, small traders regularly get stopped out overnight if their stops are too small.
The Problem with Stops
Stops are a problem. Sure, you don’t want to wipe out your account. But also you don’t want to have your stop so close that the pair cannot get a proper direction. STRobot for instance uses ATR + a moving average to calculate stops. This means the stop is appropriate for the mood of the market on that pair.
In this case check out the white dotted line, that is where STRobot and the SignalTrader Forex trading system would hold the stop.
To find out more about the SignalTrader Forex Trading System & STROBOT please http://www.strobot.co.uk < CLICK HERE
Flat markets mean small lot sizes and big stops. Or just stay out. I think probably we have another week of this fuelled by the summer doldrums.
Demonstration of ForexTrading with the SignalTrader Forex Trading System and STROBOT
Trading the Break Hook and Go
I have a strobot long trade sitting on EURJPY in a long, nice and safe.
I have an entry order as well sitting on AUDCAD as well in a long – not a robot trade.
On the daily chart you’ll see the price is heading towards the bounce point on the white line. It’s diverging from the bullish daily 200 period MA which means we could be in for a move up. You’ll see how when we move towards it we tend to rally up away from it. I don’t trade between the 200 daily ma and the white weighted pivot line.
More details of STROBOT and the SignalTrader Forex trading system.
I have had GBPCHF short order that SignalTrader Trading System is managing on since last night and SignalTrader Trading System has kept it out of the trade for now, there is CHF news in 9 minutes. So I’m hoping for a retracement.
Last night the FOMC news pushed the dollar bullish so I’m now looking for reversals on those as well. This is AUDUSD
Sometimes ofcourse we do get false breaks and get stopped out. But with SignalTrader Trading System it has a unique trailing stop system so that most of the time we don’t loose that much (if anything) and in fact if we have a losing trade it will stop out with a small profit.
http://www.iwanttobeaforextrader.com is the website for the SignalTrader Trading System. The Forex tool your brokers don’t want you to see.