Lives Trades – ANALYSIS and RESULTS

Filed under: Live Trades |

We’ve had quite a lot of lives trades recently and there are few results coming in. We have just about broken even with this batch, although you could have made a nice profit if you had an exit strategy, which I will talk more about in today’s forex-related article. However, this system is a set and forget system, and as such, the equity curve will be a little choppier.

 

Figure 1.

Right now, I’d like to take you through the setup for trade number 68, which was a trade on the USD/CHF forex currency pair. This was a relatively simple setup, but it came off very nicely. If you look at Figure 1, you will see the daily chart for the USD/CHF pair. You will see that the blue colored 8-day EMA is below the red colored 21-day EMA, signaling that the pair is currently in a down trend. Therefore, our best bet is to only take trades to the downside so that we are riding the current momentum. You will also see that price had just formed a very nice pin bar in the direction of the trend at a significant area of support/resistance (marked with a horizontal green band here). This was our signal to take a short trade, so I put an order in at a 50% retracement of the pin bar, with a stop loss placed just a few pips above the high of the move, and target set at two times our risk.

 

Figure 2.

Figure 2 shows that the trade was successful in a very short space of time. Our order was filled and our target met in a matter of hours for a 2% rise on our bank. And to leave you with, here are all of the official results over the past few days.

 

Trade 54 = -100

Trade 61 = cancelled

Trade 62 = -100

Trade 63 = cancelled

Trade 64 = -99.56

Trade 65 = cancelled

Trade 67 = +199.29

Trade 68 = +200

Trade 72 = -105.23

 

Bank = 9,607.33 GBP (-3.93%)

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