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
One of the problems with any trend based trading system/robot is that when the market changes direction guess what. You lose trades. That’s because we cannot ACTUALLY see what is going to happen in the future it’s just a best guess based on the near and distant past.
SO I have decided STRobot will no longer wait for trades to stop out, he now looks for the market to signal a direction change on HeikenAshi and then he closes the trades so instead of a minimum 37 pip stop STRobot can get out of losers within 10 pips in a flat market! Thus mathematically we win more trades because he cannot enter a trade on the same pair twice, so if the market changes direction he stays out until it has confirmed long term that’s where he is going. If a pair enters a new trend it won’t be long before STrobot is joining in.
Incidentally sometimes the market changes when we are in profit anyway so we close the trade sooner than if we just let it stop out. When the pair is 30 pips (or the specified amount) in profit this rule does not apply as there is a stop placed just inside the entry.
Good morning traders.
The markets are slow at the moment after a busy Sunday night. My USGFX Strobot managed to pull 383 pips so far so that’s not bad but we do seem to have settled into a slow waltz, this is probably as the markets are waiting for ISM Manufacturing @3pm GMT
STRobot’s method of basket trading has proved very effective.
Yes yes, I know there’s been no posts for a few days. My apogees I’ve been hellishly busy. STRobot has had a major update, to help him get better entries he uses Heiken Ashi. This means that he looks to trade in to big open areas between support and resistance but with Heiken Ashi driving the entry to the trade, the reason being that he can target to get safe with the trade on 30 pips (move the stop inside entry).
Here is a EURCAD short live trade in progress with a nice big target!
As the Heiken Ashi is on 15 minutes you can’t see it on this chart I’m going to look at a way of drawing the 15 minute Heiken Ashi in a separate window somewhere on the chart.
I saw something shocking this morning! Traders going LONG EURUSD! Anyway – here’s my short trade set up. (why would you go long on a currency pair that has been bearish for 3 weeks?)
I have placed an entry order for 115 pip profit at 1.32930 entry tp 1.31776. This is about 56 pips away from the current price – the market has to break through three supports to get to it so it should be “Non Farm Payroll” safe from whipsaws at that distance. You can see that although the EUR has strengthened so has the dollar and the EUR has not been able to get near it. (Massive chart, Blue and Green lines)
The second trade I am looking at is a EURNZD long – the EUR has broken up through the 50 period MA and is in pullback, so it still has to break up through a resistance to get to my trade. (I really like to make things difficult for the market).
Ofcoruse it’s NON FARM PAYROLLS later which should rock the market so I’m staying out of having any trades on if possible.
http://www.strobot.co.uk < you have NEVER seen trading like this!
There is an interesting set up on NZDJPY for a short.
A – The pair has broken out of a bullish wedge and hit the upper resistance.
B – The pair has more importantly “crossed the streams” on the SignalTrader Massive Indicator
C – With a big target of 313 pips my entry order is sitting at 83.015 for a short.
That’s what the STRobot robot thinks anyway.
This may sound MAD but if the currency streams cross there is a high chance we are changing to a bearish move.
Well our entry order never happened so we are staying out.
To get your hands on the robot:-
SETUP – check out the BLUE box then the DIAMOND indicating a BUY.
Silver Trader INCREDIBLE TRADES TODAY
USDCHF 42 PIPS PROFIT
AUSUSD 23 PIPS PROFIT
XAGUSD 56 PIPS PROFIT
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