RYZE.Ai and Currency Trading:
People who are avid readers of my Xin’s Trading Adventures articles and have asked themselves, “Can I make money trading Forex? or “Can I make money with Hodo Global?” but don’t have the knowledge or the time to trade currencies by themselves, don’t think you are out of luck. There is a fantastic software program called RYZE.Ai from Hodo Global. Check out the videos at the bottom of this article to learn more about this fully automatic artificial intelligence algorithm, which I really like and creates consistent profits, week after week. For more details, please watch the overview videos, read more of my detailed articles, attend a Thursday evening webinar or send me an email and set up a time to talk personally.
Now back to my personal trading:
For those of you who are new readers, my Daily Trading Reports report on my independent trading using various tools including the Harmonic Scanner, which is just one of the many ways I can make money with trading currencies.
For all the other, non-independent types of trading, please read my weekly trading reports which will report on the Master Traders automated mirror trading and trading in the Live Forex Trading Rooms.
I recently switched from evening day 1 and morning day 2, now that each daily trading report will contain one day’s trading, morning and evening on the same day. My belief is that this will be a little less confusing for everyone, particularly me.
Morning Monday 3/14/2016
Signal 1: AUDNZD
.I got into this trade Friday Morning with three entries and had three positions, as shown below.
If you recall my dumb mistake on this trade from last Friday, I moved my stops way to early and as a result got stopped out with 2 losses instead of hitting the first two profit targets and having nice profits. So, Sunday evening (Monday morning in Sydney) the trade was still open so I re-entered two more positions. This morning when I got up these were in profit so once again I adjusted my stops.
Evening Friday 3/11/2016
Results Signal 1: AUDNZD Shark Pattern
This morning it pulled back and it both stops giving me two little profits. The only position I had a decent profit on was the only one left from last Thursday. So, I made a partial recovery. Not much of one, but a little one.
Results Signal: Gold / US Dollar
The Gold / US Dollar signal was originally from last Thursday evening. To recap, I had three positions, which I got at three different prices and had set my stop losses and three profit targets as shown on the Harmonic Scanner. t this time, this trade is still in progress. It has hit the first two profit targets yielding a great profit so far and it is very close to hitting the third profit target. If you look closely at the chart you will see that I got in at lower prices than what is shown on the chart as the entry point. The reason being, I did not see the trade right away, and therefore got in at a lower price. I lost some profit potential as a result, but I felt the trade was still worthwhile it because it was moving in the correct direction.
Note: Gold is a little different in that it trades in dollars and cents. As a result, trading .01 lots a pip is $.01 or 1 cent.
As you can see below, gold is so close to hitting the third profit target That I expect it will do so before morning. I have adjusted my stop so that this will always remain in a good profit.
Position 1: Entry 1272.52 Exit 1265.36 for a net of 716 pips or $7.16
Position 2: Entry 1272.40 Exit 1259.86 for a net of 1254 pips or $12.54
Position 3: Entry 1272.16 – Still Open
716+ 1254 = 1970 pips so far
Results Signal: Silver / US Dollar
The Silver/ US Dollar trade is progressing well so far. It has hit the second profit target today and seems to be well on its way to hitting the third. I would like to see this hit its third profit target overnight. I will move my stop to ensure it remains in a small profit.
Position 1: Entry 15.65 Exit 15.50 for a net of 15 pips for a .02 lot that is $.20 per pip, so 15 x $.20 = $3
Position 2: Entry 15.62 – 15.47 = 15 pips once again, so 15 x $.20 = $3
Position 3: Entry 15.58 – Still Open
On this $1,000 account that would be a return of $6/$1,000 = .006 or 0.6% in a few days, with one position remaining open.
Lessons Learned 1: Don’t be afraid to tighten stops. Moving stops can sometimes be a good idea. For example,it would be foolish to let the remaining positions on the gold and silver trades that are so close to their third profit targets move all the way back to the original stop loss and end up losing on the trade. A nice profit needs to be protected.
Lessons Learned 2: Look at longer term charts. The longer term charts can give you a trend and filter out the noise. If I had looked at the AUDNZD four hour and daily charts on Friday I would have seen they were both confirming the trend and I wouldn’t have been so quick to move my stops on the hourly trade. This is a good confirmation of a signal as well. If the Daily and four hour charts show buy signals then I worry less if the hourly shows a little pullback during a trade.
There weren’t new signals today, just continuations of a couple of previous trades. I am looking forward to seeing what tomorrow brings. Some days there are many signals, some days none. But, there is always tomorrow.
Up until this point I have always been taking signals from the hourly charts because the longer the time period the wider stop losses and the wider the profit potential as well. So, keeping my risk small, I have stuck to the hourly charts. However, on some things such as silver where the scale is smaller, the 4 hour or even daily chart could be a possibility. I will identify those that I think are candidates, such as silver and add them to the list of signals that I consider taking. this can help generate some longer trades with potentially larger profits.
I hope you enjoyed the continuing adventures of Xin in Currency Land. If so, please leave me a comment and tell me you are in awe of my awesome trading or how hard you laugh at my mistakes or whatever you feel.
Kind of a slow day, but still a profitable one. Sometimes, slow is okay.
People who want the profit potential but don’t want to learn Forex trading see below.
As I have said previously many times in may previous articles, anyone who wants more information on a fully automated, set it and forget it, artificial intelligence currency trading algorithm called RYZE.Ai from Hodo Global , watch out the videos below.
Please Click Here to View the RYZE.Ai videos.
If you have questions, comments or feedback, please leave them in the comments area below or contact me.