to be honest, you should not be trading with just $30. This is not a job with a steady paycheck , if you are trading for food or rent money you will force trades and lose everything,
Get a real job, save your money, and paper trade for the next year, that is my best advise
Ok, we open the March account with a Buy position on GBPCHF which would have been taken on Monday @ 9.00am (UTC11) a gain of 318 pipsā¦ up till today, 12th March
On the March 8th a new top Buy position on CADCHF which would have been taken on Monday @ 9.00am (UTC11) a gain of 90 pipsā¦ up till today, 12th March
On March 9th the existing top Buy position on GBPCHF continues itās gains as shown aboveā¦
March 11th we have another top Buy position signalled for the CADJPY. Opening a position on Thursday would be seeing a gain of 105 pipsā¦ up till today, 12th March
In a little under a fortnight of trading these Markets you have a proven 505 pips all thanks to Dennis.
Iām not here to blow sunshine upā¦ this just worksā¦ this is an average month for results for this strategy.
Why are newbie traders trying to reinvent the wheel when someone has handed a profitable system to them on a Platter with the Silver spoon?
FYI, those arenāt trend lines on those charts, just a magical coincidence how price respects a lineā¦
@FOK, easy there cowboyā¦ All I am doing is putting a stake in the sand from a date A to a date Bā¦ the month of March. You cannot trade backwards only forwards, so Iāll post results again at the EOM.
Iāve been trading this system and variants of it since 2018. Long before many of you were even hereā¦
Itās just amazing that as long as this thread has been going no one has enough interest or conviction to track along in a demo account.
And pips are not the best way to report trade sucess IMHO, best to place the trades using the actual risk management, position sizing, take profit and stop loss that one would plan to use for live account. Profit report would then be a realistic percentage number.
True Fact. Risk managemnt and other factors will make or break you. And that everyone needs to decide on their own. Thats why there wont be any holy grail. Some will leave this system alltogether, some will persevere and some will improve their craft. Like Dennis says its a Ponzi so we stay sharp.
What you say has some substance. However, for a long time, the relative strength and weakness of the two currencies in the pairs Iām interested in has been one of the key elements in my trade decisions. I use a simpler visual approach than Dennis but weāre getting the same indications week after week. From this, I donāt feel the need to test Dennisās signals, Iām getting the same ones, and theyāre working for me.
Unfortunately, in the real, or even the demo, world, I was not able to enter exactly as per the Captainās signal due to the time delay and the price ripping higher. This leaves us with the choice to either try for a retracement entry or market entry (FOMO?)
I went with the market entry and got about 20 pips higher than the signal price for the CADJPY. The first signal that I am tracking, CADCHF is also going great with the signal price entry and an add-on entry at 1 ADR below the entry price.
Risk on each entry is 1% and position size is according to that, initial stop loss of 100 pips. I struggled with that, should it be 2 x ADR perhaps?
In case you are wondering, yes, tracking each signal for 2021, and nothing wrong with my charts either but only started using demo account since signal #6, to show what is possible