The Daily Trade Live – Day 1

Filed under: Live Trades |

Well, after giving you one hundred retrospective trade examples to show you how I trade (and of course, I mainly gave you my favorite trade setups!), I think it is now time to enter phase two – some live trades.

 

Now, I think the main thing of concern when following any signals service provider, and this could be in sports, or the financial markets, is the reliability and validity of the signals. So I have been thinking long and hard about this, as there seem to be so many scammers out there just waiting to take your hard earned money off you. I have followed a couple of forex signals services in the past, and I have lost money – so I would not make this a paid for service until I was very confident in it. It is one thing risking your own money, but it is something else completely to risk someone else’s.

 

I am planning to do one hundred live trades with you (for free of course) and I would urge you to test these signals on a demo account and under no circumstances go in with live funds. I will attempt to prove the validity of these signals by providing you with screenshots of my account. However hopefully, you will prove the validity of the signals yourself by putting on some of the trades on your own demo account and emulating my results.

 

Now, with regards to getting the trades on, if I were to set this up as an actual signals service, I would send the trades by email and SMS text alerts as and when they happen. However, as I am doing this testing phases via this blog, it will be much more difficult for you to get all of the trades on – especially when trading off the 1-hour charts, as the orders could be filled quite quickly.

 

Anyway, without further ado, here is the first order.

 

 

Live Trade Number 1 – GBP/CHF 1-Hour Chart (See Figure 1)

TIME AND DATE: 1pm (UK time), 6th Dec.

TYPE: Buy limit

LOTS: 0.77 (based on a bank of 10,000 GBP and a 1% risk level)

RISK REWARD: 1:3

PRICE: 1.44297

STOP LOSS: 1.44110

TAKE PROFIT: 1.44858

 

*Set the trade to be cancelled after 2 hours.

Figure 1.

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