First of all, I noticed that the EUR/USD totally tanked on new years eve and at first I didn't think much of it, but then today I realized it was probably people getting out of their positions for the year. Just my guess. It would have to do with an accounting election for traders called "Mark to market". It's for anyone who qualifies really, but what constitutes a trader in the eyes of the IRS is pretty vague.
I should be more clear on what the hell I am about to say but I am not. Anyhow, there is a tax situation where it would be best to exit your position I think.
So, my other news is that it is sunday and the markets opened up and fell dramatically, only to be bought back up again. They crashed through the psychologically significant 1.2000 level. Round numbers are just important like that. Anyhow, that also coincides with major support on the weekly charts from years back. check it out.
I am curious if the trend will be reversing and if it is wise to go long at this price, even if it's just a small position. Who knows, anything can happen and I haven't looked into any fundamentals lately at all.
Lastly, I realized that I can backtest the Robot in my software. I've known that before, I mean, that's basically the highlight of the metatrader platform, but when it comes to backtesting the box I never used a predetermined take profit so it would just lose and lose and lose. Now, if I put in the 1.5 times risk profit target I can get some data. It will not be totally accurate data because the market conditions aren't live and therefore the spread won't change due to news releases and such, but I can at least try and gather something and then run the numbers implementing the martingale risk profile. I intend to spend the rest of the night going through that. Wish me luck
-Francisco
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