What happened tonight is a massacre and painful thing for many traders. Originally I wanted to write about the conference in Italy, but this has full priority.
Great Britain has decided to leave EU in June, and since then, GBP has been busy. It has weakened a lot, but it should not be over…
Today the mood on the markets has asked for payback, and during the night sessions GBP has dropped by more than 600 pips! It took just few minutes, but it was pretty bloody. One stop loss after another has been reached and traders were calculating their losses. Just this morning 3 traders who believed in the rise of GBP called me as their accounts were reduced to zero. Discretionary (manual) trading is the pretty hard, and if you’re trying to predict market movements and you don´t have stop losses, then the bad moment will once surely come.
Who is the winner here?
You may wonder who is the winner here, who earned something on this?
Let me ask you a question. Do you know somebody who can react in a less than a second, 24 hours a day? Who does not make mistakes and always reacts as he should? Only such a trader is a winner. I am glad that together with traders around me we are employing such traders and they work for us for free! We have our trading robots who are keeping an eye on the markets and in the morning everything is done for us.
How our robots handled a GBP drop?
Trade number 1 – GBP/USD
Strategy on TF H1, gaining 290 pips in 11 hours.
Trader number 2 – GBP/JPY
Strategy on TF H1, within 1 minute (!!!) gain of 320 pips.
And the best at the end: Trade number 3 – GBP/JPY
Again one minute trade and this time 420 pips!
Together 1030 pips per night!
And we did not have even sat next to the PC, everything was done by “our trader”. 1000 USD per 0.1 lot is at home. Well, can you say you would manage to react like this manually? I love trading robots.