Son of Bob only trades on high liquidity low spread currencies.
This increases the potential profit by minimizing what is given to the brokers in the form of spread, and by choosing high liquidity currencies we are less likley to be exposed to low volume spikes and non-fundemental noise.
<b>Time frame</b> Son of Bob primarily monitors and reacts to movements on the daily time frame. This is to stabilize the performance by working in the fundamental portion of the Forex time frame instead of the reactionary and often noisy lower time frames.
<b>Entries</b> Entries are performed at the start of each new trading day, determined by the timezone of the master broker account.
For each currency Son of Bob looks back over the last 3 to 10 years of historical daily data and then predicts which direction that currency will move during the next 24 hours.
<b>Exits</b> Son of Bob places relatively small stops on every opened position and these are determined through prior rigorous statistical studies, thus giving the best risk control but also allowing the position as much “wiggle room” as possible.
Loosing positions are NEVER held or carried to the following day.
<b>Postilion sizing</b> Position sizing on the master Son of Bob account is currently set at 1% of equity based on an average 100pip stop loss. However, you may increase this if required via the trade copier position sizing if that feature is available with your broker, but be aware that your maximum drawdown will also increase.
To keep risk to a minimum No exotic position sizing such as martingale or holding lossers are used in Son of Bob.
<b>Optimization</b> Daily results are monitored throughout the trading week. If there is a drop in performance of any currency it will be taken off-line while it is re-optimized.
This is a normal process and due to the unpredictability and evolving nature of the Forex markets.
<b>Master account</b> The master account is a single trading account that Son of Bob fully controls and manages. The account has minimal funding to prevent order slippages and is used as the root or parent account that all Son of Bob trades to other brokers and organisations are copied from.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.