It is time for me to update you guys about the performance of the break the bands strategy so far for January 2015.
As you can from your chart, the EURUSD is in a strong downtrend and it is very volatile recently as it has hit a low point equivalent to the low point on November 2005 and this is a strong support level for the EURUSD.
As you can see from the picture below, there are 2 major support levels at this point and 1 past resistance which has now turned into additional support levels. I am not saying that the price will not go down further but if it manages to move down successfully, it will be a big drop.
So let us come back to the break the bands strategy performance for this month so far.
EURUSD
- 2nd Jan 2015 0745 : +50 pips
- 7th Jan 2015 0115 : -25 pips
For the above trade, the price hit our stop loss and then moved down in our favor and I bet most of you who has entered this trade are feeling frustrated but this is trading and we as traders have to accept such situation and this situation are pretty common when the market is very volatile. But as long as we stick to our strategy, we will be profitable in the end.
GBPUSD
- 7th Jan 2014 0400 : +50 pips
USDJPY
No Trade
GBPJPY
- 5th Jan 2015 0530 : +50 pips
There are not much trade for the strategy so far and this could be due to the strong volatility of the market which will hinder the formation of valid consolidation which is very important for this strategy.
However, there are a total of 4 trades taken and out of them, 3 are winning trades and 1 losing trade. Personally I am still quite pleased with the outcome and hope to get more trades at the second half of this month.
Total Profit and Loss So Far
Profits Made So Far = 3 x 50 pips = +150 pips
Losses Incurred So Far = 1 x 25 pips = -25 pips
As a whole, this strategy made me 125 pips profits so far this month (equivalent to $1,250 if you are trading 1 standard lot per trade).
This is simply the profit from one strategy alone and you can imagine the overall performance of all my strategies as a whole. I often receive emails from readers of this blog telling me that they are not sure if my Forex Street University course is suitable for them and my answer to them is always the same. The Forex Street University is going to be the last course you ever need to make money from the forex market. All the strategies in this course are the exact one that I am using to trade everyday. If I can make consistent income every month with those strategies, I dun see why you can’t.
However you must put in effort to practice each and every strategy that I have taught you in the course until you are able to execute them perfectly before you start to trade with real money. Even if you just use the Break the Bands Strategy alone, you will still get the same results as above and this strategy has never made a single losing month for me. In fact, I have been updating this strategy performance since 2012 and it has never get a single losing month before.
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
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