ROBOS AUDJPY M15: Trades: 0 / Winners: 0 / Losers: 0 / Break Even: 0

ESCALATOR EURUSD M15: Trades: 0 / Winners: 0 / Losers: 0 / Break Even: 0

ROBOS 2016 Progressive Results at 2% Risk

Escalator 2016 Progressive Results at 2% Risk

Despite not entering any trades last week, I’ve still marked potential signals on the charts in order to show the problems associated with trading in this type of market. Check them out here.

News from the trading desk…

What a week! The aftermath of Brexit and the lead up to the Australian General Election on Saturday created a market similar to that experienced post-GFC – i.e. low range, high volatility. The short explanation to why this occurred is that traders simply had no idea what was likely to play out in the aftermath of these two events, and so abandoned longer-term trend trading by attempting to take quick profits before events – both real or imagined – caused sharp pullbacks. The result? A meandering market with bloated spreads, definitely not suited to ROBOS or EscM15 strategies.

You may have noticed brokers returning margins to normal levels over the course of the week, however it’s in a broker’s best interest to have you trading, and while the potential of castasrophic movement and illiquidity has passed, instability has not. Given these conditions, I decided to stand aside last week, and will continue to do so until stability and direction returns. That may come as early as next week, but the uncertainty surrounding the federal election result threatens to cause further uncertainty and so in all probability, I’ll keep my finger off the trigger for a little while longer.

In lieu of trading, I spent much of last week testing a signal-generating service I have initially planned for ROBOS, and later the Escalator (and possibly even a resurrected Javelin). More on these developments in coming weeks, but in the meantime enjoy what’s left of the weekend, and treat the markets next week with the respect they deserve.

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