Powerful Strategy-300% Profit in 4 weeks!

[sitestuff]

Hi all,

I've been trading a live account for just about 4 weeks now and managed to tripple my account. I started with a $100 account at FXDD and my account balance is now $312.65 with a Floating P/L of -$48.50. This does not bother me much, because I'm sure the EURUSD will go down on Monday.

I'm using Bollinger Bands and the RSI Indicator. I've also added some of the strategies found here in this forum.

A special thank you to everybody contributing to this forum. Some of these strategies are very good and I'm confinced that I will be able to be even more successfull.

You can follow my trading at Live Forex Trading

Let me know if you are interrested in my strategy.

[scorpion]

300% in 4 weeks is impressive! I'm really interested in your strategy. It would be awesome if you could share your system.

[sitestuff]

Originally Posted by scorpion

300% in 4 weeks is impressive! I'm really interested in your strategy. It would be awesome if you could share your system.

First of all I'm not a Forex guru. In fact, I've been trading for only 1 year now. The strategy I use is a combination of Bollinger Bands and the RSI Indicator. Not my own system, got it from a forex forum. I have also recently added the Stoch.

Here is how I trade:

Open a M15 EURUSD Chart. Add 3 Bollinger Bands:

• Period 50, Deviations 2 - Red
• Period 50, Deviations 3 - Yellow
• Perion 50, Deviations 4 - Orange

Also add the RSI with Period 3.

Also add the Stoch 6,3,3.

Wait for the candle to touch or penetrate the Red Bollinger Band. The RSI should be above 80 now. So would the Stoch. If the next candle retrace back through the Red Bollinger Band, the RSI falls below the 80 level and the Stoch crosses lines ( above or just below 80 ) you put in a sell order.

Reverse the system for buy order. Also applicable if the candle goes through the Red BB to the Yellow or Ornage BB.

I do not know much about how these indicators work. I don't know much about forex trading as I mentioned. All I know that I've made more than 300% in only 4 weeks trading this sytem.

My advice to traders would be to treat your trading as a business. Have a business plan. A business has an income and expences. Your income is your winnings. Your losts are you expences. Decide how much you would like to achieve per day. 10 Pips? 20 Pips? Once you have reached your goal step away! Switch off you pc! Go out and have some fun! Not that forex trading is not fun... You know what I mean.

If you keep staring at your chart you will see possible trades not worth taking. Trust me! Because of that I had to close 2 or 3 trades going against me.

If you read my blog you would see my goal is to turn $100 into $90,000 in 1 year. I would basicaly have to double my account each and every month for 11 months. I've worked out a system on a spreadsheet where I have to make 20 pips per day to achieve this.

20 Pips per day is achievable if you have a Business Plan, Money Management and Dicipline.

I cannot stress this point more! Set yourselve a daily goal and once you have reached that goal walk away. Tomorrow is another day and will produce new opportunties. You will succeed if you follow these rules.

Below is a screencapture of my chart setup. I have also attached my template file.

Good luck!

Attached is my latest template file for trading M15 charts.

[fxtrendline]

that's good result , did u put your SL and TP ?

[sitestuff]

Originally Posted by fxtrendline

that's good result , did u put your SL and TP ?

TP is 5 - 10 pips. Now that I've switched to the H1 timeframe I'll up the TP to 15 - 20.

I manually stop orders against me. The reason for that is I have seen too many trades turn around after a 30 or 50 dd. What I'll do is, while the trend is going against me, I'll trade in the oppesite direction and build up my Equity and Free Margin. If things really turn against me I'll close the bad trade.

For know this strategy has een working well.

[sitestuff]

So the EURUSD hit my profit at 1.2736 so no more DD for me.

Account Balance: $333.37
Floating P/L: $0.00
Equity: $333.37

[sitestuff]

Account Balance: $367.51
Floating P/L: -$30.07
Equity: $336.90

[Thunderxp]

Congratulation! Great results so far.

Thank you for posting this system. I'll keep an eye on this thread and your blog and will try this system tomorrow. 20 pips a day is a possible goal. Are you using 0.1 lots?

[sitestuff]

Originally Posted by Thunderxp

Congratulation! Great results so far.

Thank you for posting this system. I'll keep an eye on this thread and your blog and will try this system tomorrow. 20 pips a day is a possible goal. Are you using 0.1 lots?

I've started with 0.01 on micro account. My lots is a percentage of my account balance. I'm currently on 0.06 lots.

I've made a slight adjustment to my strategy in order to limit the DD. I've changed the RSI to 3 with a MA of 6 overlapping the RSI. I have also added the Stoch Indicator. Only trade when RSI cross the MA. Works even better! When the Bollinger Band is crossed and the candle returns, together with the RSI crossing the MA and the Stoch cross, you have yourselve a very powerful trade!

Account Balance: $390.39
Floating P/L: $0.00
Equity: $390.39

[Thunderxp]

Thank you for posting the new template. What do you think: Will this system work for M5 or even M1 too?