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Transcript of Video:
Hey everybody. This morning, I introduced my membership to a brand new robot, and I’m gonna share with you some details on that robot right now in a video, and right here. So, the purpose of a robot, for me anyway, is to automate the process of getting into trades that otherwise I’d have to sit in front of the charts and wait for. And in this case, this is a daily chart robot, which means this is gonna look for big trends over long time frames with a smaller stop-loss and a giant profit target.
So, let’s cut to a scene in today’s webinar for members, where I introduce this robot. On that note, I would like to talk to you about a new trading methodology that is, I think, directly related to the sixth rule. And that is, the RJ RSI Robot, which uses the daily chart in RSI, and the exponential moving average. So, you can use other timeframe charts as well, but let’s use the daily chart. Let’s talk about the RSI 14 to begin with, and let’s talk about an exponential moving average of six.
Now the good news is, our friend Dan Hill in our lifetime membership, has already completed the first draft of this robot. And I can make this available to you, lifetime members, today inside of the lifetime member premium indicators and robots area. And then, we can play around with this together. I don’t think it’s done. I don’t think it’s ready for live trading. But, I think it’s fun to play around with, and I can’t wait to show it to you right now.
Here we go. This is the British pound, U.S. dollar. And these are standard indicators that RJ really did something extraordinary and special, and I’m really excited to … I think he’s really on to something here. And he’s talking about what is, not what we wish it would be, or whatever else. Okay. This is the British pound, U.S. dollar on the daily chart. Take a look at area number one on the screen in front of us. On area number one on the screen in front of us, the RSI set to 14 in this case, has gone overbought. That’s condition number one. In circle number two, a candle has closed below the EMA six. That triggers a cell trade. Now, that doesn’t work out, you can see here, that price does not move lower, it actually goes higher. But, that is a trade setup.
Check this out. In area number one, you’ll see in green, the RSI goes overbought, above 70, an RSI set to 14; and then, the price, the candle, closes below the EMA six. And that is a cell trade, and price goes lower. You could see over here, price goes so high that the relative strength index goes overbought. And then, a candle closes below the EMA six. And then, price travels lower.
Now, this isn’t going to work every single time. That’s ridiculous. Correct? That’s totally ridiculous. It’s not gonna work every single time. However, like to take a look together with you at testing this. You want to test a little bit of this together? Let’s test a little bit of this together.
So, here I am inside of my tester account, with the RJ RSI Daily Robot, version 1.1. That’s the latest version as of the time I’m doing this video. And then, we’ve got some settings. The magic number, which distinguishes robot trades from discretionary trades, slippage, which is of course … you know what slippage is. The max spread pips is the maximum spread that can occur if a trade is going to be taken. Lot size for the trade, stop-loss in dollars, profit in dollars, RSI period. I set it to 14, but you can set it something else. RSI high, RSI low, RSI within candles back. So this is a setting, which looks and says if the RSI goes overbought, and within four candles we break below the moving average, we can take a trade. Let’s set that to seven, and let’s click “okay.” And let’s do a test. 2016 to the present. I don’t really know if this is gonna be profitable or not. It doesn’t really matter. I just want to show you some testing.
So, this is on my server, and usually the server will crash momentarily. I’m excited for you to do some backtesting with this robot. Douglas is excited to do some backtesting. Tamara’s excited to do some backtesting. I’m gonna do a lot of testing this week on, not just this robot, but also our brand new breakout robot, as well. Now this doesn’t look great, right? This is losing right here. That’s fine. Right? Okay. So, total net profit was negative $571. Okay. That’s fine.
Maybe what we did was, we were going for too much profit. So, let’s try to go for like $300 in profit, as opposed to $500. In order to make $500 on a trade, it has to move 500 pips, the British pound, U.S. dollar, using one mini-lot. Asking for a move of 500 pips is probably a little bit ridiculous. So, let’s do another test and see … We lowered our profit target, and the robot is now looking like it could make some scratch. Our friend in the webinar says, “Robot seems promising.” Nacho says, “Hugs.” Hugs back to you, Nacho. Yeah. Lot of people excited here to take a look at this robot today.
And in this case, our robot was profitable. In this case we made $600 over the course of that time. Now, that doesn’t mean that we took a lot of trades. We only took eight trades, but we took eight trades and we still made 600 bucks, because our winners are bigger than our losers. I think there’s a lot of potential here for you to play around with this robot, and find some settings, and optimize for some settings, that will work on even shorter timeframe charts.
This is intended to be a trend trading robot. As you can see on the screen in front of you, it’s intended that this robot will find the bigger trend trades right when the trend begins. Now, it’s not perfect, and we’re gonna have to play around with the stop-loss and play around with the profit target, maybe even play around with the exponential moving average that we’re using, and other settings as well. But, that’s why we have a community of traders working together to do some of this work.
All right. I hope you enjoyed taking a look at that RJ RSI robot. That robot is available to members today and, for the first time only, and for … I’m just gonna do this for the next 24 hours, ’cause I don’t want to peeve anybody off. I have a way for you to get membership, and start the membership, and get this robot, and get all the robots, for way less than you’ve ever been able to do that before. In fact, I’m not even gonna talk about it ’cause I don’t want to peeve anybody off. But, if you follow the link below this video, or right here, and get your greedy little robot paws on this robot and chat with all of our friends from all around the world about optimizing the robots and trading the robots together and automating our trading, so that we stop making the decisions that were bad, and we stop becoming our own worst enemy in our trading, and we have a family of traders all around the world to work together with. I’m Rob Booker. Thanks for being here, and I’ll see you on the inside.
Have the best day ever,