Hello all.
I have been forex trading for about 18 months, however I have always ended up losing ALL the money I made ( I did make money for a while and thought my system was great, for about 8 months), I stuck with it despite the drawdowns, and ended up losing most of it. I have tried also, the best forex mentor services, and have still managed to lose money, the thing is I work full time and end up missing the trades. Also the mentor services and signal pages often give advice that proves to be wrong. The problem was I was often right about the trend but my stop loss was too small, and I ended up with a string of losers.
I have been testing a system on and off for over a year, and it always seems to work, however It can go for weeks without making money, but then will more than make up for it in the long run, and usually turns a profit each month.
The strategy basically trades with the trend, and has a 300 pip stop loss and 300 pip take profit (I am also testing one strategy with a 300 pip stop loss and splitting the trade, taking half profit at 300 pips and leaving the rest to run to 600 pips.)
This stop loss seems to help with days that go against the trend as it is more than most daily ranges, and often comes good in the end. As I said, I've lost all my real money and this is a demo account, however as the take profit is so high, it does NOT rely on spreads, so should work with ANY broker.
I have decided to use the strategy and record the results on mt4i, it has been running for 116 days so far, with every month in profit, it will be interesting to see how it goes in future.
Please view my results on
http://www.mt4i.com/users/garthy
Feel free to copy the trades from there, and comment on my risk reward, money management etc, I welcome comments especially from seasoned traders.
Thanks and good trading!
I have been forex trading for about 18 months, however I have always ended up losing ALL the money I made ( I did make money for a while and thought my system was great, for about 8 months), I stuck with it despite the drawdowns, and ended up losing most of it. I have tried also, the best forex mentor services, and have still managed to lose money, the thing is I work full time and end up missing the trades. Also the mentor services and signal pages often give advice that proves to be wrong. The problem was I was often right about the trend but my stop loss was too small, and I ended up with a string of losers.
I have been testing a system on and off for over a year, and it always seems to work, however It can go for weeks without making money, but then will more than make up for it in the long run, and usually turns a profit each month.
The strategy basically trades with the trend, and has a 300 pip stop loss and 300 pip take profit (I am also testing one strategy with a 300 pip stop loss and splitting the trade, taking half profit at 300 pips and leaving the rest to run to 600 pips.)
This stop loss seems to help with days that go against the trend as it is more than most daily ranges, and often comes good in the end. As I said, I've lost all my real money and this is a demo account, however as the take profit is so high, it does NOT rely on spreads, so should work with ANY broker.
I have decided to use the strategy and record the results on mt4i, it has been running for 116 days so far, with every month in profit, it will be interesting to see how it goes in future.
Please view my results on
http://www.mt4i.com/users/garthy
Feel free to copy the trades from there, and comment on my risk reward, money management etc, I welcome comments especially from seasoned traders.
Thanks and good trading!
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