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Trading Results W/E 24 March 2017 - the forexistentialist
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Equity 170303


Trades: 4 / Winners:3 / Losers: 1 / Break Even: 0

Weekly Gain/Loss: +10.53%

ROBOS 2017 AUDJPY M15 Progressive Results at 2% Risk



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

News from the trading desk…

Well, if the last few weeks have been a little uninspiring, this week definitely reversed the trend, and in doing so, was sweetly satisfying. In fact, the week showcased the ROBOS strategy’s strengths in an extremely emphatic way. Despite missing out on a lovely long move on Monday due to entry criteria not quite confirming, the signals on Wednesday, Thursday and Friday were strong and decisive, resulting in a 75% win rate. When this type of strike rate is combined with the high reward-to-risk ratio that ROBOS employs, returns are always going to be substantial.

I wonder how many of you struck it out through the lean weeks? Fear is a powerful emotion in trading, and shakes many aspiring traders out of the tree. To quote author, Tim Fargo: “Your mind is your prison when you focus on your fear”, and when your money and ego are on the line (as they always are in this industry), fear of losing (or fear of missing out – aka greed) can mean the difference between a promising career and one that merely shouts, “coulda been, shoulda been, woulda been”.

As a forexistentialist, I firmly believe in accepting responsibility for my actions…

As intelligent human beings, we all possess a significant degree of control over our individual and collective destinies. As individuals, we alone must analyse our strengths and weaknesses, and act on the opportunities that unfold before us. As entrepreneurs, we alone have the power to embrace success, or failure. And as traders, we alone must accept the fact that it’s impossible to win every trade, every day, every time. Therefore, we are obligated to develop sufficient courage and discipline in order to avoid capitulation. If we are to become truly successful traders we need to be able to withstand the inevitable losing streaks, because – and have no doubt about this – an inability to do so will render us impotent as traders. This is a principle tenet of trading law, and one which sees an inordinate number of promising careers cut excruciatingly short.

Learn to lose – easy to say, but a tad more difficult to do, I must admit. But ask yourself, is this a legitimate excuse to not accept the challenge? If you believe it is, you’re probably not really suited to trading, because to be a trader, one must appreciate that there are significant barriers standing in front of success. The main barrier is your own psyche – an emotional roadblock that has the potential to play with your mind and prevent clear analysis of your true situation. A proven technique to help overcome and develop emotional strength, is to only trade mechanical strategies. Discretionary strategies, i.e. those which rely on experience and ‘gut-feel’, can bring most retail traders (and many institutional traders) completely undone. It’s very hard to stick to a plan when the rules are ‘fuzzy’ and variable, especially for traders who entering the industry from distinctly non-trading backgrounds and don’t have years of experience on which to fall back/p.

But just because you might be trading a mechanical strategy – even if it’s one that has a proven track record, such as ROBOS – it doesn’t mean you can totally relax. You still need to put in enough screen time to develop the necessary subliminal skills of chart pattern recognition. These skills don’t necessary require you to watch the market live. MetaTrader allows you to play back the market action via its Strategy Tester, and using it is also a great way to improve your order-entry skills and strategy back-testing comprehension.

But once you start trading, you can’t get away from the fact that you need to be in front of your charts in order to take advantage of the strategy signals, right? Well, there is another way. You may be unaware, but you can avoid the time and monotony of sitting at your trading terminal, waiting for the planets to align, because you are now able to receive ROBOS entry signals directly to your phone via SMS. Below is an alert sent Friday night to subscribers that resulted in a 2.5 x Risk winner. That means if you risked 10 pips, you would have gained 25 pips, or, in units that probably bear more weight, if you risked $100, your account would be heavier by $250. I’ll leave you with that to ponder…

Goodluck with your trading, I’ll catch you next week…

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

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