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

Today's Sponsor

Visit TradeDefender.com and receive $50 off with coupon code: 52TRADERS

68: Ivo on Working Vs Trading For A Living & Daily Chart Technical Analysis
00:00:00 00:00:00

Recommended Book

Trading in the Zone by Mark Douglas

Interview Links

http://evestinforex.com – Promo Code: 52TRADERS

Broker & Platform

Blueberry Markets and Metatrader 4

Key Lessons

  • 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’s Trading

  • 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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HYPOTHETICAL PERFORMANCE RESULTS HAVE MANY INHERENT LIMITATIONS, SOME OF WHICH ARE DESCRIBED BELOW. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. IN FACT, THERE ARE FREQUENTLY SHARP DIFFERENCES BETWEEN HYPOTHETICAL PERFORMANCE RESULTS AND THE ACTUAL RESULTS SUBSEQUENTLY ACHIEVED BY ANY PARTICULAR TRADING PROGRAM.

ONE OF THE LIMITATIONS OF HYPOTHETICAL PERFORMANCE RESULTS IS THAT THEY ARE GENERALLY PREPARED WITH THE BENEFIT OF HINDSIGHT. IN ADDITION, HYPOTHETICAL TRADING DOES NOT INVOLVE FINANCIAL RISK, AND NO HYPOTHETICAL TRADING RECORD CAN COMPLETELY ACCOUNT FOR THE IMPACT OF FINANCIAL RISK IN ACTUAL TRADING. FOR EXAMPLE, THE ABILITY TO WITHSTAND LOSSES, OR TO ADHERE TO A PARTICULAR TRADING PROGRAM IN SPITE OF TRADING LOSSES, ARE MATERIAL POINTS WHICH CAN ALSO ADVERSELY AFFECT ACTUAL TRADING RESULTS. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL, OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM, WHICH CANNOT BE FULLY ACCOUNTED FOR IN THE PREPARATION OF HYPOTHETICAL PERFORMANCE RESULTS AND ALL OF WHICH CAN ADVERSELY AFFECT ACTUAL TRADING RESULTS.

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CFTC - U.S. Government Required Disclaimer:

Forex, futures and options trading have large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the futures and options markets. Don't trade with money you can't afford to lose. Our website, product contents, and materials are neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our website or in any materials. The past performance of any trading system or methodology is not necessarily indicative of future results. Substantial risk is involved. Forex trading has large potential rewards, but also large potential risk. You must be aware of the risks and be willing to accept them in order to invest in the Forex markets.

Don't trade with money you can't afford to lose. Nothing in our course or any materials or website(s) shall be deemed a solicitation or an offer to Buy/sell futures and/or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on our site. Also, the past performance of any trading methodology is not necessarily indicative of futures results. Trading involves high risks and you can lose a lot of money.

CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS IN GENERAL ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.