Crowdsourcing is a great way to use the knowledge of hundreds, or even thousands of people simultaneously. In today’s experiment, I take advantage of this concept for my Crowdsource Forex Strategy. The purpose is to see if the Forex Robot Nation readers can make me money on a $50K account.
For four days last week I asked the members of my Free Forex Telegram channel (join here!), whether I should BUY or SELL a specific pair. Then, I used this information to place trades on my account. At some points I circumvented the experiment, and I discuss that as well as show you all the results of the trades.
Did we win or lose together? Watch here to find out
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Crowdsource Forex Trading Strategy (Transcript)
Hey guys today I’m taking my $50,000 live training account and letting you trade it.
I’ll admit right off the drop that this might be a bad idea but I have faith that you won’t let me down. So what I’ve done over the past week is create a Forex crowd sourcing strategy. I’ve asked the forex robot nation members in the telegram group whether I should buy or sell specific pairs each day, and based on the recommendations I have placed those trades on my $50,000 live trading account for your viewing pleasure. I have placed four trades, some of them won, and some of them lost. Over the next four days I’ll let you know exactly how they did.
Okay so one hour ago I just asked the forex robot nation telegram group if the EURUSD should be a buy or a sell. It came in by at 64 so I’m now going to place that trade, hit a quick hike and then I’ll be right back when I have the trading results. All right so I just got back from my hike I had a little food and then I closed a nice 516 dollar win for the first trade of this experiment. So, let me pop up the green screen and show you all about it.
Here we are looking at the first trade of the crowdsourcing Forex trading strategy experiment. You can see that the members of the telegram group wanted me to open a buy trade right here thinking that the market was going to go up. It certainly did go up and we ended up closing the trade right around here. Now originally I wanted to close this trade up higher somewhere around here but given the timeframe of this experiment I wanted to exit some of the trades a bit prematurely. This resulted in a nice win of approximately $517 which is a great start to the experiment.
After day one we’ve pocketed 517 dollars in profit let’s get into day two and see if the forex robot nation community remains hot.
Good morning, it’s now day number two, trade number two and the forex robot nation community told me to sell on the great GBPUSD hour ago. So, I’m going to place the trade and then I’ll get right back to you with the result.
This second trade only lasted an hour and a half so let’s jump right into the analysis and show you exactly what happened. In this second trade of the Forex crowd sourcing strategy, the Forex Robot Nation community told me to sell the GBPUSD, so I opened a sell trade right here and then an hour and a half later I exited the trade right here for a $520 win. This is a nice trade, but obviously for the experiment’s sake I should probably leave this trade open. Yet, I was watching it closely I didn’t think the market was going to go in our direction and I was correct. Had I not exited the trade the market would have continued in this direction and we would have actually been stopped out here for a significant loss considering I had a 2.0 lot size on this trade. so I’m happy to report the $526 win even though I may have circumvented the experiment. Two days in we are up $1043 and we have two days to go. I hope the Forex Robot Nation community stays hot!
It’s day three trade number three and today I’m not going to intervene. I just got a USDJPY trade from the Forex Robot Nation Telegram. I’m going to place a take profit a stop loss and I’m gonna let this one play out. I’m not even gonna watch it, that way I don’t intervene and try and make this a win. So let me just hit a quick walk with my dog and then I’ll show you the trading result as soon as I have them.
The result for the third trade is now in. I kept my dirty paws out of this one so let’s go right into the chart and show you what happened. So for the third trade of the Forex crowdsourcing strategy I vowed that I would stay out of it. I asked the community if the USDJPY should be a buy or a sell, and they told me sell. This was a large mistake as the market immediately went upwards and stopped out right here for a significant loss of $1104. At this point all I really know is that I’m pissed off with my readers. This means that three days in I’m down about sixty dollars on my fifty thousand dollar account. Though tomorrow is day four the last day, and I’m gonna do everything I can to make sure this ends on a positive note!
All right so it’s the final day in the challenge I’ve got my coffee I’ve got a EURUSD buy I just placed it I don’t want to do anything with this one but I’m probably gonna try and get out of it just so that we get above $50,000 and we end this with the Forex robot nation community crowd sourcing me again on my account.
The day four trade 4 result is now in. Let’s go right into the chart and I’ll tell you all about it for the fourth and final trade in the Forex crowdsourcing strategy. The forex robot nation traders told me to place a buy trade which I did and I had a short take profit on this which I won right here I should have continued up and the forex robot nation community deserve credit for a win this large because this is what they said i should do the reason for closing the trade early is because i wanted to start filming the video and because i lost yesterday’s trade and wanted to make sure that i ended up on top so i owe you all an apology but this was still a 166 dollar win so let’s wrap it up and get into the conclusion.
After four days the forex crowdsourcing strategy made us $82 on a $50K account. Okay so what I learned today is that when $50,000 is on the line it’s hard to follow through with the experiment that you wanted to do in the first place. I was always half in, half out, sometimes I was watching the trades and exiting, while other times I was letting them go all the way in the end.
I saved us pretty big on the GBPUSD trade and turned it into a profit when it should have been a loss of over a thousand dollars but then I cost us on both the euro trades that could have profited even more just because I exited early. Now if you like this type of content please comment down below, let me know if you’re interested in seeing more videos like this and tell me what you want me to do. Now just a quick plug, the forex robot nation vip signal service is doing very well so far and I’m also adding a second analyst so that we get even more great trade ideas and so the two analysts can play off of each other.
Thanks so much for watching this video today I appreciate everyone in the forex robot nation community and just tell me what you want me to do with forex next, later guys!