19 July: Tomi-trader update. FX Charts Macro EA sitting near equity highs.

By | July 19, 2018

Tomi Trader – MT4 Expert Advisor.

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.

As and when our bias changes, we can either close the EA down or, more likely, adjust the settings to either a 2-way bias (i.e. buy and sell) or to a sell-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.
The  FX C Tomi EA is available on:
https://orchardforex.com/downloads/

Existing Trades:

Short Gold

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New trades:

Short EurUsd – commenced 17 July
Short NzdJpy – commenced 28 June

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Closed trades:

Long US$CHF (replaced with short EurUsd)
Short EurGbp – Persistent weakness in Cable meant that the cross drifted higher so the positioning was cut.

CURRENT BIAS: Short Gold

EA Commenced: 11 May 2018
Updated 19 July. No change in view.
Having installed the Tomi EA, with a short bias, on Gold when it was at around 1320, we have had a very good run, maintaining the position all the way down to the recent lows of 1221. Given that we are now looking for a move to 1200 and eventually to 1170, we will continue with the current strategy.

17 July 2018
CURRENT BIAS: Short EURUSD

EA Commenced: 17 July 2018
Updated 19 July. No change in view. Still long US$ bias only
We have now closed the long US$Chf strategy and replaced it by a short EurUsd positioning. The main reason for this was that the Euro is less likely to be hampered by safe-haven demand in the event of any unforeseen eventuality.
With regards to the Euro strategy, there has not been much action yet but we feel that a test of 1.1500 will eventuate at some stage, below which could see the beginning of the next leg lower within the larger downtrend.

17 July 2018

CURRENT BIAS: Short NZDJPY
EA Commenced: 28 June2018
Updated 19 July. This cross is testing our patience. It was put on because a) at the time it looked under pressure from a technical point of view and b) with all the noise about trade wars, the view at inception was that the Yen would benefit from safe-haven demand, while the Kiwi would come under pressure from a lower commodity bloc, as well as a dovish RBNZ. This has yet to take place, so we are currently under water, but still feel that the strategy will eventually come good.