#USDCAD - I am so close to my goal of $600 this week and I'm hoping this trade on #USDCAD will push me into $600! While I'm at it let's look at the week so far before Friday. Profit for the week so far is 15.82% and for today is 3.35%. My total gain on this account is 295.59%. If this trade on #USDCAD goes into profit I'll not only hit my $600 goal, but also reach more than 300% gain on my account.
You might have heard me say many times before that Risk is more important than Profit! In the picture below you will understand why it is so important to control your risk. Note my Risk/Reward ration especially Best Trade = $47.85 against Worst Trade = -$21.92 with a Profit Factor of 1.87.
You will also notice a draw down on my account of 37%. You have to be comfortable with Draw Downs when trading Forex, because it is part of it. Forex Trading is High-Risk and you can loose a great deal of money if you are not careful. That is why I suggest to all my followers to start small and build up your equity before you increase risk. You can use your profits to increase risk so that if we loose 10% or 20% equity your initial investment is still safe.
So what can you expect from my side?
The max. draw down you currently see on my account is about as much as it will be. You have to be comfortable with that so start with small investment. My goal is to grow the account between 25% and 50% per week, which is quite high for ROI, but achievable I would think. However, I do not bind myself to these goals, because that is when you start chasing profits and loose focus of risk.
Feel free to contact me should you have any questions.
Those of you following me a while now will know I spotted this setup about 4 weeks ago. It is really satisfying to see price respecting these levels...... sometimes all it takes is patience and some more patience.....
Check out my performance starting with $150 in this account and now is more than $500 with my next target being $700 and then I'm taking this to $1k
And that brings us to the end of another profitable trading week. Today through was a slow day for me with 1.37% profit. My profit for the week is 27.59% bringing my total gain on my account to 241.55%.
You will also notice that I reached a big milestone, which is a $500 acc balance. As my account grow I will naturally decrease my risk, which might mean that my weekly profit goal will not be as aggressive as it is currently. I would however still aim for +20% per week.
For now it is time to disconnect from the economy and relax before we head back to the charts Sunday evening.
The last 2 days I had to really work hard for my profits, but I am very pleased to say that it all went well and I gained some good profits without compromising the max draw down on my account.
With Feds hiking US rates and GBP releasing positive Retail Sales I found myself having to Hedge some trades in order to ride out the volatility. The key to Hedging is not to make money from the Hedge, but only to use it to protect your account and that is precisely what I did!
As it stands I'm far ahead of my weekly goal so I will not be forced to trade tomorrow, but if a setup presents itself I'll be looking at it :-)
You might ask why I am holding on to my Buy Orders and why I Hedged myself out of yesterday's Volatility? Well, my analyses is still showing me a very good opportunity for long orders. Also looking back at previous rate increases by US you will notice similar price patterns. Some economic factors might have prevented this to play out yesterday, however there is 2 more trading days left for this week and I see price making it's way up to my TP levels
#AUDUSD #trade this morning is Long for 30pips with an additional order for 20pips. SL is at 0.75800, which I doubt will be reached, especially after #AUD performance on Friday. In fact, I might add an additional Long #order at 0.76200 for 10pips just to add more #profit to the basket....
As some of you might know I've done some remarkable recovery on one of my accounts using my Daily Fundamental strategy. I've taken $9 to $150 within a month and now I'm at $200. This is when I launched a Signal Copy service via CopyFX at Roboforex. I've been approached by some investors who want to copy my trades using their own broker, hence the signal service here as well. It will be limited to CopyFX and MQL5.com though.
The Backyard Trader offering Forex Trading signals for small to medium accounts. Medium risk trading with potential 25% to 100% profit per month.
Recommended to start trading with $100
Do not invest money you cannot afford to loose
I'm sure many of you have heard about the Blessing EA and have also tried it out as part of your forex journey. At some point in time you might have even made some money with this EA, but like all EA's you end up giving back your profits after a few...
This is an automated trading strategy with strategic optimization to adopt to current market conditions. It's an improvement to Auto WOMP for those that followed me. I'll update results regularly and hope to proof that automated trading is profitable...
Starting this new journal instead as my goal is 25% profit per day. The $2.50 account did not last long, so I'm now trading with $7.20. Day 1 went great, made 26% plus rebates to follow. Will update daily.. let's hope it will last for at least a week...
I found $2.50 in one of my real money accounts and thought I have some fun with it. So my goal is turn $2.50 into $100 in 3 weeks. Each trade I make 10% profit plus rebate from CashBackForex. I use no SL so i can blow with any trade, but hey, I'm...
After a few years in this game it took me a while to realize that your best friend is not so much the trend, but more the price! I say that because following the trend has it's complications. I've seen counter trend moves of 200 + pips. And then...
I guess one could get fancy when it comes to trading terminology, but I prefer to say it as I know it.
Price ActionPrice PatternsTrend Channels
No indicator can give you what the price has to offer. It took me a few years to get to this point, but...