It is the middle of November and it is time for me to update the performance of my Break The Bands Strategy which is one module within my Forex Street University Course.
Information about Break The Bands Strategy
The Break The Bands strategy is formulated by me for my own trading and you will not be able to learn it elsewhere. Do note that personally I used this strategy only on the 15 minutes chart but feedback from students tell me that it works pretty well on other time frames as well.
Do note that this strategy does not have 100% winning percentage. In fact, all my strategies do not have 100% winning percentage as there are no such strategy on earth. If you want to become a profitable trader like me, you will first have to realize the fact that there is no way you can win 100% of the time.
What we traders look for is a strategy with at least 70% winning percentage and risk reward ratio of 1:2. With such a specification, you will find that you will be profitable every single month in trading like me.
Some readers thought that break the bands strategy is just as simple as waiting for the price to break the bands and they are absolutely wrong. There is a process where you need to use to verify if the trade is valid or not. This is to prevent you from getting into more losing trades and this is a techniques that I have derived over the years to allow me a lot more winning trades than losing trades in this strategy.
As for the entry, there is also a technique for it so that you can identify the best entry point so that you can grab more profits.
In this report, you will see the power of risk reward ratio in trading. Before I talk about that, let us go through the details of each trade below.
- 4th Nov 2014 : +50 pips
- 4th Nov 2014 : -25 pips
- 5th Nov 2014 : -25 pips
- 12th Nov 2014 : -25 pips
- 13th Nov 2014 : +50 pips
- 3rd Nov 2014 : +50 pips
- 10th Nov 2014 : +50 pips
- 10th Nov 2014 : +50 pips
- 11th Nov 2014 : -25 pips
As a whole, there are 9 trades taken using this strategy so far and out of them, there are 5 winning trades and 4 losing trades. Although the winning percentage for this strategy for this month so far is not that good compared to the previous months.
Profit & Loss Report:
Profits So Far = 5 x 50 pips = +250 pips
Losses So Far = 4 x 25 pips = -100 pips
So far, it is still making me a profits of 150 pips (equivalent to $1,500 based on trading 1 standard lot per trade).
The reason why it is possible is due to the high risk reward ratio of this strategy. With a risk reward of 1:2, you will be able to make profits in trading even when the winning percentage is only 50%.
However if you are a user of this strategy, do not worry as the winning percentage for this strategy is usually more than 70%.
All the techniques and setup in my course are time tested and proven to work for me for years and that is why I am teaching it to you. As for the rest of the strategies, the combined profits is much more than above and I hope that all my Forex Street University students are making a good profits from this course.
For those of you who are my forex street university course students, I will advice you to focus on break the bands strategy first as it is a very reliable and easy to execute strategy. Start making money with it and then move on to practice the other strategies.
I understand that a lot of you have been very cautious when looking for a forex course as there are a lot of lousy courses that are created by marketers trying to make money from those of you who are interested in trading. These people are not real traders and this explains why those strategies that they teach do not work. In fact, I have purchased several low quality courses when I am new to trading and therefore I understand your concern.
You can take a look at my course but do not rush into buying it, have a feel of the way I teach in those articles and videos in this blog before you decide if this course is for you. There is no point in getting a course where you do not like the teaching style.
For those of you who are not in any forex course and are still struggling in your trading, you can take a look at my Forex Street University Course below
If you will like to learn how to trade from me, you can take a look at my Forex Street University Course below