It is time to update you guys about the performance of one of the strategies in my Forex course.
Do note that the Break The Bands Strategy is a module inside the Forex 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 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.
EURUSD
- 7 March 2014: +50 pips
- 13 March 2014: +50 pips
- 14 March 2014: -25 pips
- 17 March 2014: -25 pips
- 20 March 2014: +50 pips
GBPUSD
- 6 March 2014: -25 pips
- 11 March 2014: Breakeven
USDJPY
- 5 March 2014: +50 pips
GBPJPY
- 5 March 2014: +50 pips
So far, the break the bands strategy took 9 trade in total and there are 5 winning trades, 3 losing trades and 1 breakeven trade. This strategy alone made me 175 pips profits so far for March 2014. To me, this is a great strategy and when combined with the rest of my other 7 strategies in the Forex course, I have a great month so far in trading.
For those of you who are my Forex 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 Course by clicking on the link below.
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