From this month onwards, I will be adding images of all the trades that were taken using one of the strategy in my Forex Street University course.
Instead of just telling you when the trade was taken and the outcome, I have decided to add in the image of each individual trade showing you where the trade was entered and where it was exited.
Do note that the Break The Bands Strategy is a module inside the Forex Street University course. The break the bands strategy has a stop loss of 25 pips per trade and target profit is set at 50 pips per trade.
When the price moves 25 pips in my favor, I will shift the stop loss to breakeven which is one technique that I also teach in the Forex Street University course. This is a technique to protect our trading account.
Therefore you can see some trades that are breakeven. In fact, there are trade where the price moves 49 pips but still 1 pip short to my target and then started to reverse.
As my stop loss is set to breakeven at that moment, the price hits it and the trade is a breakeven trade.
Some of you may think that it is a waste as the price has moved 49 pips already but 1 pip short of our target. This is one thing that you must be able to endure if you want to become a professional trader.
Believe in your strategy and you will find that it can make you money even with such trades.
Below are the outcome of the break the bands strategy:
- 7 February 2014: +50 pips
- 13 February 2014: +50 pips
- 23 February 2014: Breakeven
- 26 February 2014: Breakeven
- 27 February 2014: +50 pips
- 28 February 2014: -25 pips
- 3 February 2014: Breakeven
- 10 Feburary 2014: -25 pips
- 14 February 2014: +50 pips
- 28 Febuary 2014: +50 pips
- 14 February 2014: Breakeven
- 17 February 2014: +50 pips
- 6 February 2014: +50 pips
As a whole, the break the bands strategy made me 7 winning trades, 4 breakeven trades and 2 losing trade. In total, it made me 300 pips profits. For those of you who are my Forex Street University course students, I hope that you are making the same profits as me.
For those for you who are interested in learning this strategy, you can take a look at my Forex Street University Course by click on the link below.