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Trading Robot for All Markets
ln this video I’m going to show you a trading robot order execution tool that’s going to do all of the heavy lifting for you. It works in all markets, Forex, futures and stocks, and if you properly deploy it, I’m going to show you how to nail the low in any market by letting the trading robot do the work for you. Let’s fire this up.
This video is going to be a follow up on last week’s video of the bot trader where I gave you guys a sneak peek on what’s happening with the robot trader order execution tool on the T-bars.
In this video we’re going to take a bit of a deeper dive into understanding the parameter settings on your robot or on the strategy, as what Ninja Trader likes to call it. I like to call it a robot. You can call it whatever you want. I’m going to show you just a gorgeous, absolutely gorgeous trade on crude oil.
Setting up the Parameters of the Trading Robot
Before we do anything, let’s go ahead and get right into the parameters of the robot. Essentially I’ve made this pretty easy for you guys. Most of this stuff will be self explanatory.
Quantity, I think that’s relatively easy to understand. If you’re trading futures, this is just the number of contracts you can type in two contracts, you can type the four contracts, whatever you want.
If you’re trading Forex, you have to go with the standard unit. If you want to trade one standard lot of Forex, you actually have to type in 100,000 here because that’s one standard lot.
If you want to trade six standard lots of Forex, you actually got to type in 600,000. I know that seems like a lot, but again, there’s nothing new there with Forex.
One standard lot is 100,000 units. I’m just going to leave mine at four for four contracts because we’re going to be taking a look at crude oil in just a few seconds. The second target is ticks. Now what this is is your profit potential.
Setting up Breakeven and Profit Targets
If you remember the video from last week, we saw the first target was your break even point. If you don’t remember that video, go ahead and watch that again. But the first target is always going to be your break even point.
Your second target, which is something that you, the trader, the user, has to select, you can type in the number of ticks that you want to cash out at. Say you’re trading crude oil, you got a free trade going on, you want to just make 80 ticks. So you just type in 80 ticks right there and the robot will automatically place your cashout at 80 ticks. The stop distance.
Again, I think that’s pretty self explanatory. This is the number of ticks away from the T-bar low. You can set it to one. That’s the most conservative. You can set it to five, whatever you want. You could set it to 20. Totally up to you. I’m going to set mine to five. Five ticks is going to be the stop.
Most of this, as you can imagine, is very self explanatory. Once you’re done selecting your parameters, all you got to do is hit okay. All right, awesome. Once you have the bot loaded up onto T-bar’s chart, it should look something like this.
Automatically Entering a New Trade
You’re ideally looking for the perfect setup and what you want to do is you want that bot, that robot to do all of the work for you. It’s going to take that entry for you. It’s going to place the stop for you, and it’s going to place two targets for you. One is your break even target. One is your profit target. Now let’s see if this robot actually does that. We’re waiting for the trend line.
Okay, it looks like the trend line just broke right there and closed. Let’s just freeze this and take a look and see exactly what just happened here. The trend line broke. The price broke to the upside as a long trade, nothing new there. What you can see immediately is one break even target, and the stop.
So the stop, obviously if you’re long for contracts, you want to see your stop at four contracts, and the two targets should add up to the stop. So two plus two, yes, that in fact equals four. Now also let’s check the math. What did we say our profit target was going to be on that second target? We said 80 ticks. So if we take our entry here, you can see the entry was at 56.88. Here’s the second target, 57.67. That’s 79 ticks. That’s close enough to 80 ticks. And here’s what else is cool about this guys. You can move around your profit target to as little or as much as you want.
Automatically Cashing Out At Break Even & Profit Levels
The 80 ticks is what I call a cashout level. You can see right here, 80 ticks. But listen, you want to make less than 80 ticks? You know you want to cash out a little bit earlier than that? You want to cash out at maybe 60 ticks? You want to wait for 100 ticks? Completely and totally up to you. This is what I call a very, very user friendly experience. You guys get what I’m saying? So for now, we’re just going to leave it right there at 80 ticks and let’s just see how this a trade turns out here.
So right there you can see that we got filled on our breakeven. This is basically a free trade now. This is ideally what you want to have happen on every single trade that you ever take. You can see the stop doesn’t get touched. The stop is all the way down here. Never touch your stop, okay? Never ever touch your stop.
Boom. What just happened there? The second target got filled for the full 80 ticks of profit. That’s $1,600, trading two contracts with crude oil. You guys get what I’m saying? This is it guys. If you’re not excited about this, if you’re not chomping at the bit to let a robot do all of the work for you, do all of the heavy lifting for you, then guys, you’re really missing the boat. I’m super excited about this. I’ve been beta testing this and I want to be honest with you guys. I cannot wait to let each and every one of you guys beta test this as soon as this week. Guys, if you like what you see here, get in touch.