Last week we made an executive decision in our trading accounts, accessible to our clients and students via our Forex Trading Room, our Forex CopyTrader, and our Forex Signals services. What we were doing with the GBP pairs was simply not working out. Instead of what logic would indicate, the GBP has not been sticking to a trend for any significant period of time. Yet we kept treating it as if it would.
The market doesn’t adapt to us, we have to adapt to the market. We’ve always said this. And we’ve also always looked for opportunities for improvement, instead of thinking that we’re God’s gift to traders, and taking some silly name like others do, such as FX-Hotshot, or whatever. Sorry. Pet peeve.
Anyway, we decided to treat the GBP as the erratic critter it patently has become, with Brexit news making it bounce with no rhyme or reason, but still managing to move hundreds of pips in both directions. Never in one direction, though, which has been the problem. Well, the new approach netted us close to 800 pips in a single week. So there’s that. We will now be entering our second week trading the GBP with this new approach. But that was certainly a great start.
What are we doing? Well, if you’re one of our members, you’d already know. But there’s no secret. That’s not what we’re about. We’re happy to share specifics. On the one hand, because if all of you win at trading, you won’t be taking money from us, you’ll be taking money from those who don’t follow us. On the other hand, if you see what we can do for you for free, you’ll be more likely to sign up, and the more we are, the stronger we are. It’s not about the fees, though, it’s about building a community of like minded people. And on the gripping hand, this alone will not give you long term success. Markets change. And the GBP pairs will not always be doing what they’re doing. We’ll adapt. And so will you, provided you’re with us.
What we started doing was simply setting up strangles around the GBP pairs. Simultaneous buy and sell orders anywhere between 50 and 75 pips away from then current price. On any sharp move, we were taken in. We also added 25 to 40 pip trailing stops, so that profit was protected and even realized automatically at the first sign of a reversal. It worked like gangbusters. One trade alone netted over 100 pips and we were in and out within a second. Had we blinked, we’d have missed it.
We kept adding pending orders back as they were executed, too, always expecting the next opportunity, as well as adjusting the orders that weren’t triggered, to maintain them at more or less the same distance from the new price levels.
So why not trade with us? No ego. No bullshit. Just real trading.
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Andres Pedraza
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