Author: Gregory Lessing
Today, I would like to write how we can maximize using the Satohsi robot on a currency pair. As traders, we know it is challenging to know when or when not to enter into the market. I also wanted us all to remember how we can take great advantage of the Satoshi robot while we go about our daily lives especially if we are trading on shorter timeframes.
Over the years that I have been trading I have not seen something quite like the Satoshi robot. It is a valuable piece of my trading journey that I wanted to share as it has allowed me to get some incredible results.
This piece is what I call the sweet spots, (which are support and resistance zones) and trading this in line with the Satoshi robot on any timeframe for good entries and tight stop losses. I prefer the 30M and 1H charts for tight entries. The 15M may work but often I see price gets spiked out before returning to the direction of the trend.
The best way to identify these great setups is to look for obvious support or resistance levels and guessing that price will retrace before the support/resistance level or make a double top or double bottom. (This is my favourite)
So what exactly do you do? (an example here)
When prices are approaching back to the strong resistance level, we turn the Satoshi robot ON in a brand new chart (both 30M and 1H) for the particular pair and let the market give us what it wants to. These are the important things we need to look for to take advantage of the trade.
1. When prices are retracing back to Resistance, you are only wanting Satoshi to look for sell trades, so we need to turn OFF the buy trades
2. Start small with minimum lot sizing to see what happens with your picks and get good at it them and than repeat and grow your account when your experience kicks in.
3. Check the time of the day you are trading at, it is always best to trade in European Sessions into American Session.
4. You may leave the robot on for 3 or 4 days depending on the speed of retracing back to the Resistance level and may turn off the robot once you have had a nice entry.
5. Try making your Stops in a form of like -10% of the signal candle, this is to avoid being stopped out by the spread. You can adjust this and make it bigger if it suits your trading style.
6. Also I suggest to make your Take profits at +1000% of the signal candle, this is to give us space to do an assessment of the market and move the profit targets lower if possible to see the next strong support. If you have multiple entries, you could start taking profits off the table at different levels. (This is a new challenge for us traders to decide when to exit), you could use trailing stops or move stops into profit on the last swing high.
7. Lastly, the important part, when doing this is to change the magic number on your Satoshi EA to avoid conflicting signals on other timeframes. For example I use 10115 for the 15M charts, 10130 for the 30M charts and 10160 for the 1H charts.
This is an real example of a trade I took recently, giving me some decent returns while doing my everyday life on a small account.
I picked up the trade while we were entering a strong resistance zone between 148 – 150 on GBP-JPY around 16th July so I decided to turn ON the Satoshi robot on 5M, 15M, 30M and 1H charts to see what the market will give me using 0.01 lot sizing for each signal.
I got in 7x 5M Satoshi signals and they were all stopped out in a range of between $0.50 to $1.50 depending the size of the signal candle.
I got in 3x 15M Satoshi signals and they were all stopped out too. The last one was stopped out just about double the signal candle before the huge move south.
I got in 3 x 30M Satoshi signals, and notice how powerful the Pin + Engulfing Bar combo is. (See picture below) There were a number of signals, but just after I got in 4x entries (3x 30M and 1x 1H), I turned off the Satoshi robot on all timeframes and let it ride. The reason I turned it off was because of the big drop, and I then left the Stops where they were originally placed.
It indeed did ride south, where I moved my TP levels much lower and just got out of the two positions for a incredible 1:25 R;R each. Now I’ve moved my stops to the last swing high at 147.70
The Risks for the remaining trades I currently have were at $1.77 and $1.90 and now sitting at $41 and $40 profits so that is approx. 1:23 R:R
Imagine you finding those setups and taking the best advantage of the Satoshi signal getting in at a very good entry for you while you sleep, work or do anything!
I’m wanting to invite interested traders into our Private Telegram group to discuss the possibilities of the next best trading sweet spots to take advantage of the Satoshi robot on shorter timeframes. Would you be interested? Email me at email@example.com to get accees to our Private Telegram group.