Recently there were some unusually large movements on GBP pairs. Particularly, the movement on 26th of September was one of the biggest and sharpest I've ever seen on Forex
It caused many systems, particularly ones using grid on GBP pairs to lose a lot of money. Now, many people are worried whether the same can happen with my EAs, especially Waka Waka
Waka Waka only trades so-called cointegrated pairs (AUDCAD, NZDCAD, AUDNZD), which rarely have such large movements and are much less trending compared with EUR and GBP pairs. So it's not affected here and nobody lost money with it recently
However, nobody can fully predict markets. And with current volatile markets to protect yourself in the worst-case scenario (especially if you use high risks with this EA) I recommend limiting the drawdown at some meaningful level, so that EA will close all trades in case of reaching it
I also recommend using additional filtering in case of Night Hunter Pro and Evening Scalper Pro systems to protect yourself against going into lower-probability and more risky entries. It may be uncomfortable for beginners in trading to not have trading for a few days. But in trading it is always slow and steady that wins the race. In many cases the only way to have more frequent trading is to agree having higher overall risks
For now I decided to lower risks with Waka Waka and stop trading with the Night Hunter Pro and Evening Scalper Pro for a few days to assess current market condition and see whether there are likely threats. It seems that while current markets may be trending and volatile these three systems still perform optimally or close to it
With the News Catcher Pro the best decision right now is to lower risks significantly or stop trading until markets calm down. Day trading with mean-reversion systems on GBP and EUR pairs works well most of the time, but not during rather short periods of time when markets are volatile
Best wishes,
Valeriia
