Fixed a bug and now this….

Here are this weeks trading results from 2 accounts from different brokers.

300841 – PDF

and

9015938 – PDF

 

I think the results speak for themselves. Basically Strobot is now at the point that I can leave him alone. He trades every currency pair there is on MT4.

Using 700 pip baskets (yes 700 pips).

I found a bug in strobot and tuned up some of the entry criteria and here we are!

Happy Days! Happy Profits! Well done strobot

http://www.strobot.rocks

STROBOT will not be using stops soon.. except when in profit… but don’t worry

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.

 

http://strobot.rocks

 

The problem of robots and whipsaws. #forex #fxtalk

I started noticing things about the stopped out trades for the SignalTrader Trading System Robot, lovingly known as stRobot

All of them were caused by whipsaws, sudden, unexplained moves against the trade, one of them for instance entered the trade order and then stopped out 2 MINUTES LATER!!!!

So I have been ENTERING THE TRADE on the top of the whipsaw. So last tonight there was one on EURNZD and another on AUDJPY. Here is the AUDJPY one which is much easier to see.

 

 

So as you can see I had a long entry order on this pair, it jumped up took my long entry order and slam-dunked it straight to the stop loss.

So I entered the TRADE again at the bottom of the whipsaw. Here’s my reasoning.

a. My entry was good – STrobot had done masses of calculations, my risk reward was good, we were trading away from the 200MA daily figure sitting at 92.189 with the pair at 95.751 that’s a long way away and I know the 200 daily SMA can act  a bit like a magnet unless it’s properly broken away, but it has!

b. The stop was realistic, it was set in 37 pips away from the entry, not too much but a small loss if it went, if it broke below the bottom of the congested area I would want to be out.

Everything about this trade was great until they whipsawed me. Until i worked out this technique I would just have a little moan when my trade stopped out like this and go wait for the next trade! But why do that when the market has said what it’s doing already – so I just head straight back into the trade at the bottom of the whipsaw. Entering actually an hour or so later (only because I was trying to sleep) @ 95.728, targets as before, stops as before.

Both the trades that stopped last night are now a few hours into them 15 pips total profit. Yesterday I took 35 pips profit from a long on EURJPY that only stopped (back to 35 pips profit) because of some news (the main cause of whipsaws).

It’s no use crying over spilt whipsaws, if the trade is good, the whipsaw is just a temporary set back, if your lot sizes are set correctly @ 1% (e.g. $100USD= 0.01) you will be able to cope with this kind of movement.

http://www.iwanttobeaforextrader.com

 

 

 

 

SignalTrader Trading System – Trading 10 trades at once with SignalTrader.

How SignalTrader can manage your trades and allow you to trade more than you can manually.

Click Here for full details

SignalTrader new Website!

If you have been considering the SignalTrader Trading System then please check out the updated website at http://www.iwanttobeaforextrader.com

Did you know SignalTrader Trading system now manages your orders and keeps you out of trades you shouldn’t be in yet (except for whipsaws which we can’t help with!).

Daily Forex Video & Trading 20th December 2013.

Good morning everyone.

Today I am trying an experiment. I am setting  up my SilverTrader trades and then leaving them alone.

SilverTrader is unemotional about it’s trades, yesterday a USDCAD sell trade I could have had I held back because of lack of market movement. That is not a reason not to trade and in fact it turned out to be a good sell trade.

This morning I am selling GBPUSD, XAGUSD (silver) and UJ. (USDJPY).

Looking to close out before 9:30 UK GBP but it may be disappointing and push my trade further lower.

Anyway here is the video – don’t forget that after 1st Jan the SilverTrader Software will go up to $750 USD and $50 monthly. So get your lifetime copy for $75 at http://www.iwanttobeaforextrader.com

Anyway happy trading  = check back for updates!

Trading 19th December 2013

Good morning all on a cold and frosty UK morning.

FOMC last night was the usual explosion. Anyway – SilverTrader DID correctly predict a buy but unfortunately it was just impossible to trade due to the fact the market moved so fast!

I also discovered that my customers were placing their trades far too close to the congestion so I have built in a new “red box” that is a NO FLY ZONE for trades to make sure they don’t get caught out.

Here’s a sample

So here is today’s trading video.

TRADING UPDATES (CHECK BACK FOR MORE!)

Look at the potential profit from this USDJPY sell if it happens, retracing back from last nights FOMC – thanks to SilverTrader my sell order is in a safe place, close enough to catch the fire, but far enough away to be safe.

Possible buy GBPUSD