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Strobot III is finally complete, a MAJOR rewrite of Strobot. It now uses the Ichimoku cloud to trade on 3 time frames at once.
Existing Strobot Users with life memberships can get the upgrade. If you would like a life membership I’m selling them for $1000 USD which includes support. But I am limiting the number of users to 10 for now. So that I can provide better support.
I am very very pleased with his performance so far.
STROBOT has a number of different modes, these are all automatic and the artificial intelligence lets him decide which mode to choose.
This is a demonstration of multi trade mode, you can see he has the old trade on from a few days ago and gets a new signal so uses the profit from the old trade to cover the entry for the new, both with the same TP.
His other modes include hedging mode which happens when he senses a possible change in market direction. He applies this to 40 or so currency pairs at once.
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.
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.
Annoyingly while I was writing the post we got up to 81 pips
You may have noticed I’ve not posted for about a month that’s because I’ve been backtesting and working on a new version of STRobot. It’s been a huge job.
STRobot still uses fib levels for targets. But has a lot more clever things:-
– ability to add to trades to a trade so if he sees opportunities for further trades he will place them once the trade is safe (stop inside entry).
– Better entries
– Trailing stop now trails even when the trade is not in profit to reduce risk
– Entries are based on 4 hour timeframe and 15 minutes at the same time- updated all the indicators.
So let’s look at a live trade I have on.
You can see STROBOT now has a strength meter built into the trading output.
So lets have a look at a trade in detail.STRobot spotted CADJPY for an entry after it had bounced off of the 61.8% fib level. He waited for a break down and took the trade at the point shown, this is the hourly chart and you can see a falling trend. You’ll see how STROBOT identifies 4 hour trends so now he’s looking for a run down to the next fib level @ 38.2% He’ll probably add a few trades as this pair is not moving hugely as we go down.
Here’s the 15 min.
I don’t know how far we will get because the 200 pip target is quite a long way away but we shall see.
Anyway there we go – here comes Monday
I’m sorry I’ve not been able to write for the blog. I’ve been working with some great traders who have been bringing ideas to the table. This is now implemented and STRobot has moved to another level.
The following video just explains just what I’ve been up to.
So STRobot did brilliantly yesterday with some wonderful GBP trades.
GPBJPY and GPBUSD were both bullish trades.
This new version of STRobot shows the trades on the chart.
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.
Wow what a 24 hours it has been. Some of us walked away from the Swiss frank with a 1000 pip trade profit. But what a ride!
Others did not fare so well. The worst being the list of brokers who have gone into liquidation. For instance Alpari, who although I’ve never used them I have trusted them for a long time.
Today we took the decision as a group to disable trading of the swiss frank. We have a facility in STRobot for opting out of trading currencies and the Swiss frank is too volatile at present moving 100 pip swings fast!.
We have also decided to increase our stops to 120 pips from 80, having gone through our losing trades from last night ALL of them turned round and came back! So we wasted 80 pips about 3 times that we could have held.
So now it’s a waiting game with around 14 trades on at the moment STRobot has placed, with USD news @ 13:30 we could see some nice pips. Just have to wait, I would like to see the last remaining CHF trades I have on go into profit but at the moment the world is trying to work out just how much the CHF is worth! This morning we stopped out 2 120 pip CHF trades (painful). But saying that for those of us who did pull 1000 pips yesterday its swings and roundabouts.
EURGBP is doing nicely but holding for the news so let’s see what happens. Due to CHF trades I have a live account with a nasty 80 pip going the other way CHF trade and the demo account is not doing much better. The USG account is fine though.
Still HUGELY up on the week. I’m checking out a couple of traders who did not end up in profit. I do suggest going through your statements just to check everything is right. Some brokers will refund trades closed because of gapping or whipsaws especially if you can prove that other brokers didn’t have the same thing.
So markets are pretty slow and flat as we expect this time of year. But STRobot did pull in 50 pips from this GBPUSD short.
This will probably be our last post before Christmas (you never know!!) so have a great Christmas everyone.
From Paul & STRobot.