Powerful Strategy-300% Profit in 4 weeks! - page 10
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Could you tell us, what makes your loses very huge? please give us the screenshot, so we can make it better in the future...
The bad news is that I've lost a lot of trades and my account balance now is $26.69. The good news is that I've learned a lot about my strategy and the way I trade. My trading experience these last 7 weeks has almost beed like mosts EA's. One month performing extremely well and the next month your account gets blown. These last week or so I've been trying to fine tune my strategy and with every lost I could learn something new about the do's and dont's. I have also come to the conclusion to turn $100 into $90,000 take more than just courage and endurance. It's something I still have to learn. For the next week or two I'm back to a demo account trying to fine tune my style and when I'm ready I'm going live again. I will stick to my indicators, it's just to find the best entry points that is important. When to know not to trade and when to trade. My next mission will be more realistic. I will start new post when I'm ready to go live again. For now thank you all for following me. Sorry to have disapointed you guys, next time better luck!
Could you tell us, what makes your loses very huge? please give us the screenshot, so we can make it better in the future...
The reason for my large losses was I had no SL and I was trading the M15 chart.
I'm currently trading the same strategy with a 50pip SL and 10 - 20 pip TP on the H1 charts and I'm more successful.
"strategy with a 50pip SL and 10 - 20 pip TP on the H1 charts". Could you tell us what it mean? and how can you trade with your " account balance now is $26.69" ?.
"strategy with a 50pip SL and 10 - 20 pip TP on the H1 charts". Could you tell us what it mean? and how can you trade with your " account balance now is $26.69" ?.
I'm trading on the H1 Time Frame Chart with a 50pip StopLoss and 10 - 20 pip Take Profit. Sometimes this will change, but I try and stick to it.
I no longer trade the account with account balance of $26.69, read earlier posts.
isnt it too risky when 50 pips SL and 10-20 TP
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:
- Period 50, Deviations 2 - Red
- Period 50, Deviations 3 - Yellow
- Perion 50, Deviations 4 - OrangeAlso add the RSI with Period 3.
Good luck!Thank you for sharing.
why is this thread still going?
if you look at his live results
Live Forex Trading
he clearly closed and lost it all
why is this thread still going? if you look at his live results Live Forex Trading he clearly closed and lost it all
Yes you are right... And he is about to open a new bigger account as well.. the method seems to be ok though...
With a RR <70% of the time to just break even. Now, if the SL was 10 pips and a TP of 20pips, then you would only have to be right 33% of the time. Much more acceptable. If you can't get the RR to be > 1, ideally 2-3, then the problem is inherent in the system and as a consequence, will struggle to succeed.
If you are going to proceed with this system, please read about money management. There is an abundance of information on this site and the rest of the web.
Cheers,
CoolB
A string of losses should bring the account on its knees...