A “spreadsheet junkie” like he calls himself, Ivo Luhse found automated trading was the way to succeed in the Forex market.
He does this by using various robots on the same trading account; each robot trades a different strategy, and averages about one trade/day.
Ivo believes that if you treat trading as a hobby, you’ll never make it in this business!
In the show Ivo shares:
- One of his candlestick patterns strategies with 85% accuracy
- His journey to become a profitable trader
- His view on automated trading
- 4 elements to a high success rate trade on a daily chart
- The biggest mistakes in trading
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Broker & Platform
Blueberry Markets and Metatrader 4
- Treat trading as a business
- Remove the safety net of having a job
- You will not make money every day!
- Stick with the bigger time frames to filter daily noise
- Stop treating trading as a hobby
- Multiple trading strategies on a single account result in bigger chances to survive adverse conditions
- Avoid over-optimized robots
- Keep it simple: learn the basic candlestick patterns
- Turn off the robots before big events like Brexit, elections, etc.
- Trading is a game of probabilities
- Success is a result of non-stop chart watching and perseverance
- Patience is key: it took Ivo 2 years to become profitable
- Uses astrology in trading!
- Biggest mistake: don’t risk too much on a single trade
- Advice: Just Do It!
- Ivo runs four trading algorithms on the same account, each based on a different strategy
- Strategies use different time frames
- 27 currencies pairs are used: if a strategy or trading system works on a currency pair, it must work on all of them
- Trades all major pairs and most of the crosses, except exotic currencies like RUB or MXN
- Uses Fibonacci targets, daily pivot points as well as a fixed number of pips for take-profit levels
- Favorite setup: candlesticks reversal patterns
- Uses Bollinger Bands to spot a trending or a ranging market
Ivo’s Client Accounts
Ivo’s Strategy of the Week
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