I've been trading a live account for just about 4 weeks now and managed to tripple my account. I started with a $100 account at FXDD and my account balance is now $312.65 with a Floating P/L of -$48.50. This does not bother me much, because I'm sure the EURUSD will go down on Monday.
I'm using Bollinger Bands and the RSI Indicator. I've also added some of the strategies found here in this forum.
A special thank you to everybody contributing to this forum. Some of these strategies are very good and I'm confinced that I will be able to be even more successfull.
You can follow my trading at Live Forex Trading
Let me know if you are interrested in my strategy.
300% in 4 weeks is impressive! I'm really interested in your strategy. It would be awesome if you could share your system.
First of all I'm not a Forex guru. In fact, I've been trading for only 1 year now. The strategy I use is a combination of Bollinger Bands and the RSI Indicator. Not my own system, got it from a forex forum. I have also recently added the Stoch.
Here is how I trade:
Open a M15 EURUSD Chart. Add 3 Bollinger Bands:
that's good result , did u put your SL and TP ?
TP is 5 - 10 pips. Now that I've switched to the H1 timeframe I'll up the TP to 15 - 20.
I manually stop orders against me. The reason for that is I have seen too many trades turn around after a 30 or 50 dd. What I'll do is, while the trend is going against me, I'll trade in the oppesite direction and build up my Equity and Free Margin. If things really turn against me I'll close the bad trade.
For know this strategy has een working well.
So the EURUSD hit my profit at 1.2736 so no more DD for me.
Account Balance: $333.37
Floating P/L: $0.00
Account Balance: $367.51
Floating P/L: -$30.07
Congratulation! Great results so far.
Thank you for posting this system. I'll keep an eye on this thread and your blog and will try this system tomorrow. 20 pips a day is a possible goal. Are you using 0.1 lots?
I've started with 0.01 on micro account. My lots is a percentage of my account balance. I'm currently on 0.06 lots.
I've made a slight adjustment to my strategy in order to limit the DD. I've changed the RSI to 3 with a MA of 6 overlapping the RSI. I have also added the Stoch Indicator. Only trade when RSI cross the MA. Works even better! When the Bollinger Band is crossed and the candle returns, together with the RSI crossing the MA and the Stoch cross, you have yourselve a very powerful trade!
Account Balance: $390.39
Thank you for posting the new template. What do you think: Will this system work for M5 or even M1 too?
Deffinately not M1. I've tried M5 before, but the indicators are not as true as on M15. M5 is just too "choppy"
My best results with the least DD where on the M15 timeframe.