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Day Trading Robot Technique This day trading robot technique must only be used after you have a thorough understanding of the trading methods shown on this web site. So what is a Robot, Black Box, Expert Advisor (EA) etc... take a look at this Bloomberg video The methods shown earlier could bail you out of a sticky situation, otherwise this day trading robot technique is a “no stress” trading method that is wholly dependant on a unique combination of just three powerful indicators, mainly the RSI, the 8 moving average and Bollinger bands. This simple but powerful how to trade Forex technique will keep you on the right side of the trend and should ensure your emotions and actions are not effected by “false” price fluctuations. How many times have you placed a trade using Forex indicators, see it go in your favour, and then it threatens to go in the opposite direction… do you feel butterflies in the stomach? What do you do? Should you quickly take your profits, close the trade and relax? Is this only a retracement? Is the price going to continue in your direction? Is this a reversal? What determines your actions at this point? The day trading robot technique is a simple but powerful method of trading, when fully understood, can be traded to help minimise your trading losses considerably. So what is this day trading robot technique? Simply put, it gives you the confidence to remain in a turbulent trend…
As can be seen in the chart we only use the 8ma and RSI, just below the yellow ball we notice a spike or tail to the upper Bollinger band (overbought indication), once this is observed, we would wait for a price close below the 8ma and this “must” at the same time show the price to be into the “bearish” half of the RSI, the entry point is indicated by the straight black line running through the blue ball, it clearly shows the price closing below the 8ma and at the same time price entering “bearish” half of the RSI…this is where you would place a “short” trade. Once in a trade you must monitor the price within the RSI and as long as this is in the “bearish” area (below 50%),and provided stop losses are in place, I would ignore all fluctuations in the price chart. You can clearly see the price above the red balls fluctuating but the RSI remains bearish. Once price pierces through into the other half of the RSI you must be out, as a matter of fact if you have applied my trailing stop loss technique, you should have closed long before you got to this stage in your trading! These fluctuations threaten a trader and create a lot of doubt when in a trade.
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