A lot of people have been writing to ask about the forex robot I mentioned in a previous article…

Others have been asking for updates…

So let me chat a bit about what I’ve been up to…

First off, I’m no forex robot expert…

I’ve had the chance to communicate a bit with a subscriber who advised me that my approach isn’t exactly the right way to go about building out a robot…

So again… I’m just experimenting in new territory…

That said, I’ve been working on taking a few of the trading ideas I’ve had and seeing how automation MAY help trade the forex markets.

I’ve been getting some interesting results… but each result leads to some more ideas that are having the robot constantly evolving.

Plus I keep interferring with the robot as it trades (I admit, I can’t help it… my ‘trading habits’ just keep me wanting to overtrade…

And that leads me to today’s little lesson…

I’ve purposefully been closing out trades at points where I think the market is about to turn…

But instead of closing out the trade fully, I just close half the trade, and leave the remainer for the robot to close out.

The results have been interesting…

I’m often times right in judging the turn… and can lock in a profit just as the momentum shifts and we get a pullback. (That’s from hours upon hours of staring at price quotes.)

That being said… the robot (as per its programming) holds through these pullbacks and often times ends up banking a much bigger profit as the market resumes its course – that I miss out on due to getting too caught up in the short term.

Case in point today… I started trying to move in and out of the market, catching a few points here and there… (something that amused the robot)…

I ended up incurring MORE losses than if I had just held.

(Of course this was partially an experiment and if this were real money I would have exercised more control…)

That said, I just read a post on a forum where someone recounts this type of problem… getting impatient and not getting exact setups, they started to ‘just trade’ (a problem every short term trader faces) and ended up blowing a bunch of money…

So the results posted below are not totally accurate, due to the fact that I’ve been lowering the robot’s results with my losses…

But I’m not all to blame!

The robot actually incurred a few losses of its own due to some reboot issues we had…

But so far the results are encouraging…

And I’ve been having fun (I mean learning a lot.)

The quick summary of the robots results… as of when it first started trading – Oct 23rd through to right now (Nov 6th) – are as follows:

Trading just 1 full contract at a time (at times scaling out or in 1/4 or 1/2 of a contract)

Net Profit: $9 063.50
Profit trades: 27 (62.79%)
Loss trades: 16 (37.21%)
Ave. profit trade: 492.37
Ave. loss trade: -264.41

I know the results so far are too early to conclude anything… I’m just sharing what I’ve been up to for those who have been asking.

The software generated a more detailed report that you can look at here.

Categories: Trading

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