Equity 170505


Trades: 1 / Winners: 0 / Losers: 1 / Break Even: 0

Weekly Gain/Loss: -2.00%

ROBOS 2017 AUDJPY M15 Progressive Results at 2% Risk

ROBOS 2017 AUDJPY M15 Fully Verified Results at 1% Risk



Click here to see screenshots of every trade position from last week…

News from the trading desk…

A virtual carbon copy of the previous week, the last five days saw uncertainty and indecision occur over the course of a fairly big news week in the lead up to the final French presidential run off on Sunday (Monday for traders in the Asia-Pacific region). The latter part of the week also saw the AUD lose substantial ground against most of the majors, while Non-Farm Payroll on Friday again meant a shortened trading week for ROBOS. Tuesday’s losing trade therefore remained the only position entered for the week.

Although Emmanuel Macron’s victory on Sunday seems almost assured, memories of last year’s Brexit, along with the Trump election shock, are still raw in traders’ minds, and even if Macron scores his expected victory, a strong showing by anti-EU, anti-immigration, pro-protectionist, far-right candidate, Marine Le Pen, will cast a spotlight on the ever-widening divisions opening up in French and European societies. This, combined with the seemingly endless wars raging in the Middle East, the rise of global terrorism, instability in the Korean Peninsula, and the looming consequences of climate change, makes for a very uncertain future. Investors hate uncertainty – pure irony given that uncertainty is the very nature of the beast they seek to tame.

Since many of you are now receiving the ROBOS SMS signals on your mobile phones, it’s important to understand that every trade I report using this system is based on strict adherence to purely mechanical rules. As I’ve pointed out frequently, it’s vital that ROBOS results continue to be reported in this manner. The experience level of Forexistentialist membership (and readership) is diverse, ranging from completely novice traders right through to seasoned veterans. The signals therefore, must be clear, and the results unambiguous, totally devoid of subjective discretion, other than avoidance of entries during times of high impact news announcements or events, such as NFP last Friday, or the French election on Sunday (both of which are included in the rules anyway).

But that doesn’t mean that every trade signaled, must be entered. Depending on the trader’s experience level, and understanding of market analysis, some additional filtration may enhance the trade’s potential. Two examples of what I look out for are (a) support and resistance levels that may stand in the way of price reaching my TPs, and (b) opposing signals, such as double-tops forming around the time of a buy signal, and vice-versa (DBs around sell signals). Note that these ‘filters’ don’t necessarily mean that I’ll avoid the trade, but rather encourage me to contemplate the entry, stop, and targets a little more deeply.

As always though, if you’re just beginning your trading journey, I strongly recommend you stick rigidly to using the mechanical rules only, until such time you’ve gained a solid understanding of market sentiment and technical analysis. And that experience can only be gained through serious chart-time.

Happy trading…

Check out my fully verified 1% risk account at myfxbook.com, and screenshots of all trades from last week below.

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