19 Apr: Tomi Trader – MT4 Expert Advisor – Current bias: Long US$CHF

By | April 19, 2018

When the medium/long term bias for a currency pair, commodity or stock index is either bullish or bearish, as can be ascertained from the daily trend table (i.e. http://fxcharts.net/category/trendtables/ ) an EA can be attached with that particular bias in mind.

The EA is available on:

https://orchardforex.com/downloads/

 19/04/18

CURRENT BIAS: Long USDCHF

Updated 1 May. No change in view. Still long US$ only

We currently have a bullish bias on the US$ against Chf (i.e. Long US$Chf), given that the daily and weekly charts are pointing higher, suggesting further medium term dollar strength. We have therefore attached the Tomi Trader EA with a bullish bias only to US$Chf, so no sell orders would form part of this strategy, except for when taking profit on a long position.

As and when our bias changes, we can either close down the EA or, more likely, adjust the settings to either a 2-way bias (i.e. buy and sell) or to a sell-US$-only bias if we think the market is going to reverse in the opposite direction.

The settings are very flexible, as not only the directional bias can be changed but the number of points between trades and size of the profit margin and the trailing stops can also be altered to suit your own style.