THIS WEEK’S ROBOS STRATEGY RESULTS
Trades: 13 / Winners: 0 / Losers: 3 / Break Even: 0
Weekly Gain/Loss: -6.00%
Click here to see screenshots of every trade position from last week…
News from the trading desk…
To all Forexistentialist newsletter subscribers, I do hope you received my earlier email apologising for the late posting of these results. I’m currently traveling in the U.K. and Europe, and as such, I’m in transit for much of the time with only intermittent internet connection, making it difficult to upload all of the chart images and results in a timely manner. Notwithstanding, I have some stability at the moment and so I’m hoping to catch up somewhat here…
I’ll be the first to agree that the past few weeks’ results have not been good, but in acknowledging that, they are still pretty much in line with results of past years, when volume has traditionally dropped off at the onset of the northern hemisphere summer, resulting in consolidation of many major markets. Coupled with the uncertainty and volatility associated with an increasingly erratic Trump administration in the U.S.A., French and U.K. election plays, and a recent escalation of global terrorist attacks, this makes for a much riskier trading environment, and so caution should be a priority when making thoughtful trading decisions. Still, trading is (or should be) a long-term venture and I refer you to my previous post dealing with Andrea Unger’s World Cup trading results for a guide and broader perspective.
Of course, the big question remains, should you keep trading under these conditions? Unfortunately, it’s an answer I can’t provide. Only you, and you alone, can make that decision. Risk tolerance, available capital, personal committments must all be factors brought into the equation. However fear should definitely not be one of the motivating variables. Fear is an emotion that can disconnect your decision-making from reality, and completely derail your trading plan (you do have a plan, don’t you?). Total aversion to risk can stop you trading completely, and if this happens you may never have the opportunity to recover your losses once the market eventually breaks out of its consolidation phase. As an analogy, consider this; you’re an aspiring snow skier, but despite kitting yourself out with the latest skis and equipment, you lack the confidence to launch yourself over the edge and down the slope, fearing the result may be physical pain and damage to your ego. Well, let’s face it, if you’re too scared to fall, you stand Buckley’s chance of ever becoming an accomplished skier. Likewise trading.
On an entirely different topic, you may have noticed that I’m now using an EA to trade the ROBOS strategy. I had this developed to allow me to take some much needed time away from the computer terminal. It incorporates all of the rules I apply to my manual trading, including news filtration. At the moment I have no plans to release this EA to the general public for two main reasons; the first is that, as an educator, I don’t believe EAs teach new traders emotional control. I believe such control can only be properly achieved by personal evaluation of the market, and then entering positions manually. Secondly, I’m concerned that too many traders using the EA could potentially distort the market. Granted, it would take a hell of a lot of people, using the software simultaneously, to make a significant impact, but it is possible, and therefore a factor I must take into account. I haven’t yet made a final decision on this and a lot will depend on the ROBOS trading results over the course of the next few months, however my current bias is to maintain the status quo. I’ll keep you posted.
In the meantime, let’s hope for some return to normality in the coming weeks. Remember that the U.K. election on Thursday will potentially be accompanied by an increase in volatility, so beware. I will be back on the road again this weekend, so the results for week ending June 9 will also be late in posting. Please accept my apologies in advance.
Check out my fully verified 1% risk account at myfxbook.com, and screenshots of all trades from last week below.
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