The Backyard Trader - CopyFX at RoboForex - Medium Risk

And so we have reached the end of another profitable trading week.

The profit this week was much less than last week, mainly because of my acc size. The more the account grows the more cautious I get especially if you can remember I started this account with only $4. It is only natural to be less risky, which also means less profit. However, 27,6% profit for the week is good enough for me and I'll take that any day over a loosing week.

I also quickly want to discuss Risk, as this is more important than Profit. After a couple of weeks of trading I'm still comfortable with my risk control. In fact, looking at the picture below you will notice my "Risk of Ruin" has decreased slightly with a 12.14% of loosing 10% and 1.15% of loosing 20%. Also as I have mentions before it will not be a problem for me if I loose 10% or 20% of my account, because I should make it back quite quickly. One has to understand that losses is part of trading and that is what brought about this bog change in my trading style. Focus on Risk and be happy with whatever profit you get from the markets.

Anyway that is enough babbling for now - time to relax and enjoy the weekend - have a good one!

This chart says it all

Please note CopyFX Investment Conditions has changed - as of Monday 18 June 2018 the following conditions apply:

Commission scheme: on profit
Level of risk: Medium risk
Subscription mode: Free
Starting date: 18.06.2018
Minimum deposit: $100
Commission from profit: 30%
Investment period: One week

Click here for performance history - https://www.copyfx.com/ratings/ratin...it/period/all/

Questions welcome

Trade Safe!

One of the pairs I'll be looking to #trade tomorrow is #AUDUSD.

A few possibilities is likely to play out here, but I'm looking for a retrace to Lever 1 and then trend continuation to a lower support/buy Level 2.

I'm just about Break Even for the day with an open order on #AUDJPY. Since price is in momentum I have decided to put a 2nd short order on this pair with a ST on the first order and SL at BE. The 2nd order has a TP of 30pips and a TS of 20pips. I am anticipating that price will continue Bearish during the Asian session.

#USDCAD - I am so close to my goal of $600 this week and I'm hoping this trade on #USDCAD will push me into $600! While I'm at it let's look at the week so far before Friday. Profit for the week so far is 15.82% and for today is 3.35%. My total gain on this account is 295.59%. If this trade on #USDCAD goes into profit I'll not only hit my $600 goal, but also reach more than 300% gain on my account.

So this was long overdue.... a closing a day with a loss..... down 9.5% for the day.

This might mean I will not reach $600 acc balance tomorrow, but it will be okay, because next week will bring lots more opportunities to trade and make profit!

The sad part is earlier today my acc was at $584...... then came the news...... then I picked up one loss, entered again as price reversed, hit my SL again, looked like price will continue with good momentum, turned around and hit my SL again......

And that is how I got all the way down to just over $530 with 2.9% growth for the week.

Even though I still made money I am very disappointing in myself, because I know I am a much better trader than this, but it seems the $600 target I set myself got into my head......

This weekend I will have a nice braai, play some squash and forget about this week.

Monday we start from scratch and next week I WILL take this account to $600 and beyond!

You did well chief , am so amazed on your way of trading . most importantly that you stick to SLs no matter what happen
( USDCAD news got sl due to the huge spike 100 pip )

Keep doing what you are doing ( its impressive mate )

Thanks

Thanks man

Just a reminder for those of you that have accounts at RoboForex.

You can copy my trades via CopyFX with No Subscription Fee - I get paid 30% commission of the profits I generate as a result of my trading.

 

1. Min Investment amount is $100
2. Investment Period is 1 Week

I changed the Investment Period to 1 Week, because sometimes people don't want to be "trapped" in an investment for a month. If you like my trading you can simply re-invest after 1 week.

Click here to Invest

#USDCAD - I'm back with this pair, because the setup on the Daily Chart is just to good not to trade. I have a tight SL of 10 pips and a 30 pip TP. I have already banked 20 pips earlier on #GBPUSD so I can afford the risk.

Nice trading bro keep it up

Thanks!

Performance June 2018 - We have reached the end of this week as well as the end of the month of June 2018 and it is time to do the Performance Analyses.

I'm very pleased to announce that I have reached my goal of $600! It took me slightly longed than anticipated, but more important is that I made it even though these last 2 weeks were some of the most challenging weeks I had to face.

Lets look at the performance:

Profit Today: +14.91%
Profit this Week: +11.95%
Profit this Month: +126.85%

Total Gain = +300.69%

Now let's have a look at risk:

There is a 31.64% chance I will lose 10% of my account, a 8.74% chance I'll loose 20% and a 2.03% chance I'll loose 30%. My 10% equity risk did increase due to USDCAD trading and being caught up in the range. Next week this exposure will be less.

I'm more than happy with these results, keeping in mind I did say this is a Medium-Risk strategy so I will go through draw down periods.

Next week I'll focus on less trades, but more quality entries trying to gain between 15% and 25% for the week, but for now lets enjoy the profits and have a well rested weekend!

GBPUSD - one of the currency pairs I'll be watching very closely this coming Monday - expecting a pull-back and then a bullish move to upper key price levels.

Lets watch it!

So it is official news now....... $600 is my Nemesis......

Here are some of the challenges a trader sit with:

1. If you close the order before it hit your TP, you should have left it open
2. If you let the order run to hit your TP, you should have closed it early
3. If you move your SL you shouldn't have
4. If you don't move your TP you should have
5. NEVER say Should Have, Could Have, or Why did I....

So I'm pushing forward to $700 even though I'm down to $500 from $600. Nothing has changed, not my strategy or my risk.

I'm 18,6% down from last week. My max draw down is 35% so I have much room for movement.

If you are one of my followers and are not comfortable with this DD I'll understand if you withdraw from my services, but please come back or decrease your investment amount to a smaller amount you are more comfortable with.

Lets do this!!!

As anticipated GBPJPY had an awesome bullish spike this morning hitting my TP at 146.60 and banking 37.78% profit for the day pushing me back to just over 300% profit total gain. With my total acc also back above $600 I will now chase $700.

Tomorrow I'll be looking to trade GBPUSD and USDCAD. I'll bank whatever profit I can take and will not push for $700 tomorrow - that can wait till next week.

As always we look at my Risk at the end of the week. You will know that is was a tough week for me with some draw down periods as well as some good recoveries. I admit I made some unnecessary trades, which lead to some over trading from my side. This however did not exceed my max draw down I allowed for myself, but the recovery would have been much sweeter had I not over trade. So lets look at the Risk for the pas week:

There is a 40% chance to loose 10% equity, 14.68% chance to loose 20%, 4.66% to loose 30% and 1.24% chance to loose 40%.

Use this as a guide in your own account and adjust your trade volume accordingly.

As one is never to old to learn in this market I was reminded again this week how quickly things can get out of hand.

So next week I'll push forward towards $700 and then $800. My weekly goal is still 10% to 25%.

Have a good weekend!

you can use this indicator - https://www.forexfactory.com/showthr...7#post11238597