The account from the screenshot was published here on myfxbook, open and fully verified.
The point is, most traders cannot put together 10 normal trades and there are very few who can put together 1000 normal trades. But that does not mean nobody can. Instead of making up BS and then insist that the BS is true is insane. Why not follow his trades in real time and learn something?
Here is how you will look at charts when you use ProFx 7.
1) What is the primary trend? To answer this question we look at the H4 chart. If we have a clear trend trades will be only taken in the direction of the primary trend. Simple because when there is an uptrend the sum of rallies will be larger then the sum of declines. Trading against clear trend is not a smart thing to do.
Todays H4 chart showed us that the price is not ready to rollover and we may see more upside.
2) What is the intermediary trend? Where are support and resistance levels? This information is collected on the M30 chart. ProFx will basically show you everything you need to know. Today's chart showed us that the price tried to go above 1.3085x three times. The attempt to push the price down failed and the price went back up quickly. ProFx showed a fully confirmed signal.
3) Timing the trade on the M1 or M5 chart. Only minutes before London opened momentum picked up and we went long half size (half size because when such moves fail the price drops quickly because everybody who went long wants to get out as quickly as possible). The price went up, SL from the first trade was moved to break even (one click on the panel) and a second trade was opened (one click). Price went up more and the SL was moved to break even.
When the momentum slowed down the trade was closed bit by bit. The idea was to keep a small part of the position but at some point I lost patience and closed the rest of the position.
This is an example of the short term logic. It can be also used for swing trading (usually one trade/day). There is no magic behind and everybody can do it with same practice and training. I post my trade ideas usually before the market opens and everybody knows my plan beforehand. Trade calls are provided in real time (users only) and stats are verified by third party services.
1) EURUSD Long....Closed half and then the rest with a a tiny loss. 2) EURUSD Long....Moved Stop to break even when the price started to move up. Took partial profits along the way and finished with a decent amount of pips.
I hope everybody is having a productive morning. Thank's for playing.
Wolfgang posted: When the price is jumping around like today. How does the system deal with it?
It depends how you use the system.
Position Trading When you use it for position trading you will trade on the D1 and H4 chart. That means choppy conditions on lower time frames will not have any effect on your results.
Swing Trading (Trade suggestions as example) Sometimes you will get stopped out but the damage will be limited. (Positive risk/reward ratio) Our traditional 'one trade per day' rule prevents larger damage.
Short term trading On lower time frame charts (M1 and M5) the number of trades is high and it is important to read the clues the market gives us correct. Otherwise paper cut losses will add up quickly. Best practice is to simple not trade when you are not sure what is going on.
Those who look to the trade history will find lots of trades what got stopped out at +2 Points. Note that the trades are not started with a TP of 2 points. Those are trades where the SL is moved to +2 points to make sure the position cannot run into minus.
HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors.
Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance.
You could lose some or all of your initial investment. Do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions.
Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
Past performance is not indicative of future results.