Have you ever wondered if traders using strategies on Forex Forum’s like Forex Factory or Baby Pips are making any money? Today I answer that question, by trading two different strategies over three weeks on a live $50,000 trading account.
Watch the video, and follow along:
If you like my content, please subscribe to the channel, it helps a lot!
Forex Forum Strategies
In this video today, I’m taking a $50,000 account and trading only free Forex forum strategies.
I’m doing this video for three separate reasons:
- I want beautiful people like you to subscribe to my channel and like my videos. All right, that’s good enough.
- I want to introduce you to free systems and free resources available on the internet. Whether it’s on a Forex forum like this.
- I want to introduce you to a free strategy and then make a little money while I’m at it. So let’s get into the strategy. I’ll show you the first strategy and then I’ll get right into the live trading results.
So you might not be able to buy a Porsche like mine with this free Forex forum strategy. But with each strategy you actually learn and become a better trader, which is why I’m constantly in the forums, looking at different strategies and looking at different things to bring to you the Forex robot nation community.
Now, today, we’re just going to jump right into the thread. Take a look at the first strategy, and then I’ll show you my trading results from the first two weeks.
Forex Forum Strategy #1
So here we are in the Forex factory forum. The first strategy that I utilized for the first two weeks of this Forex forum strategy is the TMS for M30 charts. This is an extremely popular system. It has over 900 different pages and thousands of different posts. The first thing you want to do when you come onto this page, if you’re interested in using this strategy is come down and download the file.
The zip file will have all of the different indicators required in order to use the strategy. And then once you have all of the indicators into your MetaTrader 4 platform, you will be able to use the system. But in order to use the system, you have to follow very specific rules.
These are all of the rules here. You can see that it is a divergence based strategy. I’m not going to go into every single one of the rules, one by one, because that’s a bit boring. But what I am going to do is get right into the trading results and trading examples, showing you how I’ve used this strategy over the past two weeks and how well that it’s done.
Forum Strategy #1 Results
So for the first strategy, first trade, we had a Euro/US dollar sell. At first, the market started going in the wrong direction, but did bounce back and then came right exactly where we wanted. It took about 21 hours or so, but we ended up with a 38 PIP win. And because we were trading a one lot size that accounted for a $380 victory, which is a great way to start the strategy.
So after the first trade, I’m up 380, I’m feeling pretty good. But then I put around for the next few days using the strategy, making a couple of mistakes, not following the divergence like I’m supposed to, and I end up losing $700 and that’s four trades in a row, which absolutely sucks. But that brings us to where we are today. I decide on the next trade to up the lot size to two and a half, which is usually not a good idea, but sometimes I’m a gambler and this is the result that we got.
We opened a sell trade. You can see, I wanted it to go all the way down here. It did not do what I wanted it to do. I followed the rules of the strategy. The strategy just played with my line a little bit and then darted up, smashed my stop loss. On this trade, I lost about $800. It was not the result I wanted and we’re not where we want to be right now.
Forex Forum Strategy #2
After the first couple of weeks, the Forex forum strategy has me down around $2,400 on my $50,000 account. So I’m not happy. I’m switching it up. I’m going to a new strategy and I’m increasing the risk. The new strategy is the pivot trading thread found on the Forex factory forum. This strategy has over 1900 thread pages, thousands, and thousands of posts. And I’m seeing a lot of traders actually having success with this in that thread. So I think this is going to be a good strategy for us to use.
Again, I’m going to increase the risk. I’m going to crank it up and we’re going to try and find a way to get on top of this $50,000 account. So let’s get back inside and show you some more trade results and see how I did.
Okay, so here we are in my verified my FX book account for the Forex forum strategy, as you can tell it hasn’t been going good. We started the new strategy on the 14th. I had a couple of wins. I had a loss, I had a couple more wins. I decided to crank up the lot size even more. And then I took a really big loss and then a couple more losses for about a $10,000 loss overall, which is terrible. But don’t worry because this is when things start to turn around.
Forum Strategy #2 Results
Things really start to turn around when I hit this US dollar Swiss Franc win. I placed a buy trade when the pivot trading strategy requirements are met. You can see it’s a risk reward ratio with 3.26%, which is awesome. The trade goes exactly the way we would like right in our direction. And we end up smashing the take profit for 28.8 pips and somewhere around $3,000 in gains.
So around the same time as I placed the first trade, the conditions are met again, this time on Euro/US dollar for a sell. So I placed a sell trade. You could see, I enter the trade right around here. The market stagnates a little bit right here before jumping right into exactly where I want it to go. I smashed my take profit. I pick up 64 pips, $6,400 in profit. And now I’m on a roll with the strategy. So three hours after I placed my first two trades, which netted me $9,000, I decide to go back to gold where I actually lost $9,000 earlier because scared money doesn’t make any money.
So with this trade, I decide a sell trade because the conditions of the strategy are met. Boom, the trade goes right in our direction. It’s a quick win. We make $7,800 and the winning streak continues.
So after my huge winning streak yesterday, where I made $17,000, I decided to see if I could keep the streak going. I saw some conditions met with the pivot trading strategy on the Euro/US dollar. And so I decided to take this trade here. It was a sell trade. I almost hit my stop loss, but the trade did come down, recover. And then I ended up smashing to take profit. It was a really good take profit because you can see, I just ticked it. And I made $4,000 on an easy 40 pips.
So for my last trade of the Forex forum strategy, the pivot trading strategy conditions are met on the US dollar, Canadian dollar. You can see this trade here opens up. Doesn’t come close to the stop loss and ends up smashing the target take profit with a 1.04% risk reward ratio. This is an excellent trade for 61 pips and $4,800. And it’s the perfect way to end this experiment.
How did I do?
So after three weeks and two strategies, I’m up 26%, which is over $13,000 on my $50,000 account. So I have to say that this is a very successful experiment and I’m really happy with how it went. The first strategy didn’t work out very well for me. I lost around $2,400. It didn’t really fit my style. I’m not saying it’s a bad strategy, but it was difficult for me to spot divergence and use it properly. So I’m to blame for a lot of it.
The second strategy was the pivot trading strategy and it fit with my trading style much better. I won a lot of money with this strategy. I recovered my losses and I ended up with a gain of over $13,000, which is exactly what I was hoping to see.
What I learned from this experiment is that you can be successful using forum strategies and systems. Yes, it’s difficult at time to do so, but if you stick to the process, you can learn and grow your accounts and gain maybe 5%, 10% per month if you’re being low risk and risk averse. So I’m happy with the result. And now all I have to say is I got that money and my signal service is just smashing take profits right now. So why don’t you come and join me. Join my free community. Get some free signals. We hit a winner just yesterday. We hit a nice winner in the VIP this morning too. So if you need anything, you know, give me a shout out. I’m up $13,000, the Forex forum strategy worked. I’m out of here.