04 Mar What Made Good Money Last Week
What Made Good Money Last Week
Mar. 4, 2020
Seeing the market action last week, I was reminded of a famous trading saying:
Be greedy when others are fearful.
Of course, you would have suffered losses last week if you followed that advice or possibly still be sitting on losing positions.
It’s maybe good advice for long-term buy-and-holders, but it’s not very useful if you want to make money today.
Or during a crisis.
This week we’re looking at a few things that did actually make money during the severe market sell-off.
First up is one of my robots, the Dragonfly. This robot was designed to get involved with any trends going on right now. It’s not for the long-term, it’s for the current moment.
If there is movement today, this robot wants to be a part of it. It looks for opportunities constantly.
And last week there were trends everywhere, in the U.S. markets but also in Forex. In fact, the Fx trends were incredible.
As a result, the Dragonfly captured some profit.
Here is a picture of a Dragonfly trade from last week.
After a Long trade got spun out, a Short trade was taken on the GBPJPY (this is one of my live accounts). It caught a lot of the movement and was about a 9% win.
Then the trend continued and the robot entered into a new Short trade that dropped like a rock. That trade could’ve been taken out on Friday for almost another 8-9% win. Or we could’ve let it ride and it would be in profit (as I write this).
Either way, while the market was losing 11%, a system like this was seeing a 9-18% potential gain.
In the crisis moment, the systems that work aren’t based on who’s greedy or what “should” happen or if analysts think there will be a bounce back. The systems that work in chaos are the ones that get involved when trends present themselves.
Maybe we could add a saying:
Be in a system when others are fearful.
Talk to you soon.
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It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results are not necessarily indicative of future results. Examples presented on these sites are for educational purposes only. These set-ups are not solicitations of any order to buy or sell. The authors, the publisher, and all affiliates assume no responsibility for your trading results. There is a high degree of risk in trading.
HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN INHERENT LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT ACTUALLY 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 PROFITS OR LOSSES SIMILAR TO THOSE SHOWN.