Forex Punch Robot by Anna Monti
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UPDATE! Forex Punch Robot made $273.17 Not a big sum, BUT! Look at the screenshot: we traded first with 0.1 Lot Size and gained 78 pips. Then we changed the Lot to 1.0. Look what we would have earned if we started with bigger Lot Size: 156.4 + 83.0 + 41.6 + 410.4 + 156,74 + 43,81 = $891,95
We traded with 1.0 Lot Size, EURGBP and GBPCHF pairs and M15 timeframe with default settings. No other adjustments. If you prefer 0.1 Lot Size, your trading volume is much lower along with the total risk. But still, Forex Punch Robot can trade with any lot size (even with micro lots) and the total profit of small trades may reach the desired amount in time.
As you know, the British pound has high volatility. For example, in American news the GBPUSD gains 20-30% more than the EURUSD, which allows us to get more profit. To exclude the effect of the news impact on the dollar, we use cross-rates on the British pound: EURGBP and GBPCHF. Furthermore, on these currency pairs 1 pip costs more than $10, so for example, on the EURGBP it is nearly $16 per 1 pip. So:
Therefore, we confidently build the strategy of this robot on a penetration of price levels, after which price continues to significantly move in one direction. Robot defines price levels using fractals, as well as it confirms trade entries using a trend filter.
Novice traders sometimes make the mistake of seeing forex as a simple way to become rich in a short period of time. You should consider the risks and effort that must be put in to achieve such a goal. Placing very large trades in proportion to your account balance in an attempt to make a huge profit is unlikely to be successful in the long term because eventually a trade is likely to go against you and that can lead to severe losses.
One aspect of the forex market that attracts many traders is the opportunity to trade on margin, in other words, leveraged trading. Trading with a small initial deposit can still make it possible for you to open relatively large positions, so it is important not to overdo it when selecting a trade size. Forex is usually traded with a high degree of leverage, which means you are able to provide just a small percentage of the actual amount you are investing while sustaining profit/losses as if you had invested the whole nominal amount yourself. This can work for you as well as against you.
Keeping calm and maintaining a balanced state of mind is crucial when trading in order to remain focused on relevant events. You should always remember that the market’s actions are not personal. And our fully-automated Forex Punch Robot will help you ‘” it will do everything without emotions!
Some novice forex traders begin trading without having sufficient knowledge of their chosen currency pair(s) and how currencies are influenced by global events. You should learn as much as you can about how different financial markets impact each other and how they intercorrelate, ie stocks, bonds, commodities and forex.
This knowledge will help you to make better-informed trading decisions when various economic figures are released. It is also important to identify the type of market that is prevailing to allow you to adjust your strategy accordingly and thus avoid entering into losing trades.
What is the point of opening a forex account if the funds we deposit will be unsafe with the broker, or worse yet, will be stolen and misappropriated? Thus, the first necessity for the right broker must be the safe and reliable track record of the firm.
Unavoidably, the second most important variable in our equation for comparing brokers is the initial deposit requirement. Many traders prefer to begin their careers by risking very small amounts which leads them to seek the broker offering the lowest initial deposit requirement naturally. This reasoning certainly has its merits; however, the initial deposit requirement should in fact be one of the last considerations in choosing the best broker for you, unless you really have a very small amount of capital that you want to risk for forex trading.
Spreads are extremely important for forex traders, seasoned, or novice. Since the broker usually receives the compensation for its services by widening the bid-ask spread beyond the quoted values in the wholesale interbank market, a wide bid-ask spread represents a larger amount of money leaving your pockets, and entering those of the broker’s. You pay this fee regardless of the profit or loss you make with your trade: so there’s always good sense in ensuring that you choose the broker which offers one of the more competitive spreads in the market. Sometimes it may be advisable to open an account with a broker that charges slightly higher spreads in exchange for the safety offered by its long history and track record. But even in that case, a spread beyond three for the EURUSD pair, for example, is not a very good idea.
Margin requirement and leverage ratios are the second most important aspect that must be considered during the choice of the broker. For the beginner, the lower the leverage the better. Since higher leverage is only advisable for traders with a proven track record of profits and success, the beginner should be uninterested in the maximum leverage offered by a broker. Instead, since he must be allowed to get used to leverage on a step-by-step basis, the minimum leverage available is far more useful as a criterion. For an experienced trader, evaluating the value of a high leverage options can be a bit more different. Since, by definition, successful traders use highly divergent techniques… Read more…
