74 PIPS FROM EURO CAD PROVIDES A 27 RETURN AND 567 PIPS FROM 9 TRADES - forex never lose trading system

74 PIPS FROM EURO CAD PROVIDES A 27 RETURN AND 567 PIPS FROM 9 TRADES ~ forex never lose trading system

EURO CAD provided us with a smaller-than-expected but positive result on Tuesday, due to the lower liquidity conditions of the Christmas Holidays. Our original target of 150 Pips could not be met under these circumstances, requiring us to exit for 74 Pips at the end of our specified Holding Period. Nevertheless, the strong gain had a significant influence on our overall Rate of Return, which now stands at 27.4% since July of this year. With over 500 Pips from only 9 trades, we are only 3 trades away from the 1000 Pip mark and a 50% Rate of Return. After meeting this short-term target, we would then need only 4 more trades for a remarkable return of 100%.

This pair began to decline following a False Breakout Reversal at the Resistance of the Range on the Daily Chart. As with all False Breakouts, a move to the end of the boundary was expected.


DAILY CHART

FXCM used for Entry Signal based on the New York Close Candle

The move was also taking place within a Downtrend that started with the break of the Trend Lines of the previous Uptrend.


DAILY CHART

The signal that we used to confirm that this trade should be taken was the 2nd bearish candle as it was deemed to be a Normal Candle- the Candle that we obey for our entries (Section 8 - “Consolidation Trading on the Forex Market - A Complete Trading System”). After determining that it met our criteria for trading within Consolidations, our Entry Setup was done on the 4 Hour Chart...



4 HOUR CHART

An Entry Order was used in this trade as a Market Order would have required a Stop Loss that exceeded our maximum of 90 Pips for entry based on the 4 Hour Chart. After pulling back to trigger our trade, the market then meandered sideways over the next few days. With trading activity and liquidity limited, we exited for the 74-Pip gain at the end of our Pre-Determined Holding period.

DAILY CHART - LIVE ACCOUNT RESULT

Dukascopy used for Live Trades

With this latest trade, our Rate of Return table is now closer to the mid-way point of our Medium Term goal of 100%.

RATE OF RETURN FROM METHODOLOGY

5% Risk Per Trade, 100-200 Pips Target per Trade; No Trading done in August

Summarizing these results, an average of 63 Pips have been made on each trade, supported by a fairly high rate of success.

SUMMARY OF RESULTS

These gains were due in large part to the last 8 trades, which steadily made up for the initial loss of 100 Pips that may have shocked my early Subscribers!!

SUMMARY OF RESULTS

The Demo Account which tracks the Live Account trades was not to be left out. The trade pushed the Return to 22% after only 5 trades.

DAILY CHART

DEMO ACCOUNT RESULT

Having started in October, the results on this Account are equally encouraging (verified at Myfxbook http://www.myfxbook.com/members/DRFXTRADING/duane/1079693)

RATE OF RETURN - FXCM DEMO ACCOUNT

SUMMARY OF RESULTS

The results from the Methodology at this stage bode well for what is possible within a few months time. By only targeting the highest paying opportunities that have a high probability of success each month, your chances of steady, long-term gains with limited draw-down are greatly enhanced. Nevertheless, given the inevitability of losses, we always need to remain confident in our strategy despite setbacks along the way. Once you have tested your strategy successfully on a Demo Account over a reasonable period of time (at least 6 Months), you can be more assured that the gains will outnumber losses by a reasonable margin. This will allow you to achieve strong Rates of Return over the Long-Term, with fewer losses. 

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________________________________________

Duane Shepherd

(M.Sc. Economics, B.Sc. Management and Economics)

Currency Analyst/Trader

Contact: shepherdduane@gmail.com

Twitter: @WorldWide876

Facebook: DRFXTRADING
Website: www.drfxswingtrading.com

More info for 74 PIPS FROM EURO CAD PROVIDES A 27 RETURN AND 567 PIPS FROM 9 TRADES ~ forex never lose trading system:

TRANSITIONING FROM DAY TRADING TO SWING TRADING - no brainer forex trading system

TRANSITIONING FROM DAY TRADING TO SWING TRADING ~ no brainer forex trading system

Forex Trading has become a very popular means of earning income by individuals all around the world, ever since the market was opened up for Retail Trading several years ago. Those who have been successful in this challenging market have done so by Scalping, Day Trading or Swing Trading the major Currency Pairs each month, with a wide range of trading strategies. As lucrative as Scalping and Day Trading have proven to be for most of these traders, many have chosen to move away from these shorter term strategies in favour of the larger trends of Swing Trading. This style of trading is not as aggressive nor as exciting as the other strategies, but provides less exposure to market volatility and is a flexible, practical option for those with a non-Forex full-time job.

Despite the intention to trade the market with this new approach, however, many have found the transition very difficult given the new way of thinking that successful Swing Trading demands. The previous habit of analyzing the market and expecting a profitable move each day or week may create unrealistic expectations. One may also find it difficult to allow trades to move towards their targets without a micromanagement approach that was required in previous strategies. If, however, the trader were to practice and implement the following safeguards in a disciplined manner on a regular basis, a successful transition to Swing Trading will be realized.

OPEN UP ARBITRARY TRADES

On a Demo Account, open a position on two uncorrelated pairs and leave them for 7 days or until they are closed. This can be based on a strategy that you have already identified to use before going Live or a random selection if you are searching for that ideal strategy. Only check on the trades at the end of each day at 5 00 pm EST. 

Ensure that all charts related to the trades are closed as well as anything that allows you to see the value of the trade/Account Balance. You should only be able to see that the trades are still open by viewing an Open Position tab on your platform such as this one;

This will allow you to become accustomed to the time it takes for these trades to reach their targets, without the pressure of a Live Account. You will also appreciate that despite the longer holding period for these trades, a few days can go by in the blink of an eye.

CLOSE THE SMALLER TIME FRAMES

The temptation to look at the daily movements of the market will follow new Swing Traders, depsite knowing the greater accuracy of the Larger Time Frames. To overcome this problem, the trader MUST close all of the Time Frames below the ones chosen for Swing Trading (generally 4 Hour Charts and higher are used). This will gradually reduce the impulse to constantly check on a trade because of small movements that have little bearing on the major trend direction.

STOP FOLLOWING THE NEWS

Yes, you read that correctly. Economic news released to the market each week can cause spikes and heightened volatility that can be very profitable for Day Traders within minutes. However, these reactions tend to be incorporated into the signals that are seen on the Higher Time Frames at the end of the day. You simply analyze the market in the context of this signal and then trade accordingly. 

Once the setup is clear enough, you can make your trade decision without concern about the nature of the data nor the reaction of the market earlier in the day. It is even more important to not follow market news while the trade is in motion so that you dont second-guess yourself based on minor news items. As you pay less attention to these releases, you will realize that the most profitable swing trades do not require an awareness nor an understanding of the underlying economic fundamentals.

TRUST YOUR STRATEGY

As with most things in life, once a system has been proven itself to be good enough to be implemented, it will work on most occasions. Trust that your Swing Trading system will continue to work for you as it did on a Demo Account. It does not have to be accurate 100% of the time to be profitable so you just have to allow the winning trades to compensate for the losing ones. The habit of monitoring trades and exiting early because of a temporary pullback will only compromise the long-term profitability of the strategy. Trust your strategy, stick with it and it will reward you each month with large rates of return.

________________________________________

________________________________________

Duane Shepherd

(M.Sc. Economics, B.Sc. Management and Economics)

Currency Analyst/Trader

Contact: shepherdduane@gmail.com

Twitter: @WorldWide876

Facebook: DRFXTRADING
Website: www.drfxswingtrading.com

More info for TRANSITIONING FROM DAY TRADING TO SWING TRADING ~ no brainer forex trading system: