DragonShot FX Trend Following Strategy

if you actually read the post you would see it...
""A few last notes before the fun begins I've created a brand new Myfxbook account for this here.""

Yes but I'm not asking about this strategy, I'm asking about your subscription service. That myfxbook account only started this week, which I doubt your subscription service only started this week too?

Hi!

Except for enormous spreadsheets that I've been using as my own trading journal over the past few years, no. I've never shared a look inside my trading until now. This new account that leweg1 mentioned is public now.

So I suggest you either subscribe to my service and try it for yourself, or follow this thread for a bit while we make some profits publically. Either way, everything is transparent now.

Thanks for actually reading! I have a lot of fun writing every post

+100 pips on AUDUSD... and still running!

+190 pips on EURAUD.. and still running!

I'm seeing a very interesting shift in the market sentiment!

This week started with some losses in the AUDUSD, NZDUSD and EURAUD.

Very interestingly, the dynamics of current market conditions have now officially shifted after these last 3 trades.





As you can see from above, before the last 3 trades our big trend targets was still in the lead as the most profitable setup with a profit factor of 4.01 and expectancy of 0.77. Also, its win probability was 74.42%.

After the last 3 losses, things have now officially changed and the small trend target has surpassed it as the most profitable target in current market conditions.

Big trend dropped to 72.73% probability, 3.66 profit factor and 0.73 expectancy.

In comparison, small trend targets have 82.22% win probability, 3.8 profit factor and 0.5 expectancy.

Therefore we now shift gears and go with what the market is doing. We'll be targeting the smaller trend targets until the market firmly re-establishes big trend targets as the more profitable strategy.

The power of statistical analysis cannot be over-emphasized! ALWAYS keep a trade journal!

How are our traders doing?

Up for the month but down -5.5% for the week. But that stat is nonsensical because that is literally for one trading day and doesn't mean anything. We now have our new market approach and the rest of the week to make up for earlier losses.

I'm down -23% myself because of my insane risk I take for this thread and that's not even half the max drawdown I was expecting. Eyes on the next trade!

How do you find ICMarkets as a Broker?
Any problem withdrawing funds?

Hi, I think they are fantastic. Great support and I've never had any problems with them. Also, I love their ECN accounts where the spreads sometimes go as low as 0. Very handy for us daytraders.

Phew, tough week!

This week was one of those weeks where you are tested as a trader. We took loss after loss from trades coming within a few pips of our profit target and then turning around completely to stop us out. Another trade (AUDJPY) literally stopped us out by 1 pip before turning around and flying to exactly our original target.

I've seen it all before but it still tests a trader's resolve. Either way, I've seen worse and we will always recover again sooner rather than later.

The change in market structure is becoming clear. We have also reached our max drawdown soft target of -10% in the group, after which we traded it back up again. In my own personal crazy risk account linked here that is just a bit over -33%. That's still nowhere near the worst-case scenario I prepared for of -58.01% should things go really wrong, so we're still good.

After doing hours of statistical analysis this weekend I have concluded three things.

1. My subscribers will be trading with only half our normal risk until we've recovered half of the drawdown.
2. We won't be taking any counter-trend small target trades anymore. The market is honestly ridiculous in the way it's being manipulated hour to hour and how you can see it on the charts, so I don't recommend risking any more capital on counter-trend trades at the moment. We'll ONLY be trading with-trend trades to small and large targets.
3. I'm adapting our stop buffers to include an element of the ATR, thereby adapting even better to current market conditions. I already coded up an EA for it and will share it with my subscribers soon.

As rough as the current drawdown looks I am excited for the new week! We adapt, refocus and get ready to rock again.

One thing is for sure - when I trade the account back from a -33% drawdown all the way to +100% gain which is the goal, it'll make for one hell of a comeback story!

Hello
Your live myfxbook result shows that you lost 33.9% of your account :-)

100% right! Just as I mention in literally the previous comment.

I sent money to a Dragon from Sri Lanka. He proved to be an international con man.

+50% this week.

Well, there we go. We're back on track!

As I told my subscribers as well, drawdowns happen, it's inevitable, now we are recovering and how is that for one week. Close to making up the full drawdown and then it's pure profits from there again.

Updates a bit later again!

Make that +80% this week!



We had some amazing trades on USDCAD, USDCHF and we caught the entire uptrend run in GBPJPY.

Beautiful trading overall this week and we are extremely close to closing the drawdown gap now.