Forex Trade of the Day

Archive for February 9th, 2012

Expert4x Forex techniques help Double their trading account in a day

In the second trade of the live “Double-in-a-Day” forex technique process shared with the free  “Double-in-a-day” Club Expert4x achieved its goal of doubling its trading account in 1 day.

The first transaction was stopped out positively earlier this month.

The Double-in-a-day forex course is free from: Double in a Day . You will note that we used a number of Forex techniques, lots sizing and money management techniques during this trade. We strongly advise that you focus your trading approach on knowing a number of trading systems  and don’t try to use one Forex technique only.

A $5 040 trading account was taken to $ 10 040 in one day. As you can see the initial Sell limit order did not activate which would have decreased the risk.

Details of the transaction:

The initial potential entry was identified using a Financial Turning Point Divergence setup as shown in the chart below. The Expert4x Simple-N-Easy ways of finding turning points in the Forex market also helps with this:

Chart 1

The entry was refined on the 1 minute chart using the support and resistance principles of the Long Candle forex trading course  as shown below. Unfortunately our bounce entry did not activate but the breakout one did (at exactly 10:00 GMT) Please see 7 Simple-N-Easy times to trade the Forex market for reasons why this time is so important. You will also note that we use the multi time frame approach as discussed in the With All the Odds course

 Chart 2

The transaction then followed the process below which is explained further in the Free Double-in-a-Day Course. The details below were sent to the free Double in a Day club. You will note that the lots sizing and adding to the position is predetermined and can be done automatically. This cuts down on emotional decision making while the transaction is active. Because of the fact that stops, targets, following stops etc are preprogrammed our trader went to sleep after the stop was moved to +20 on the initial transaction and woke up to a pleasant result.

Wednesday 8 Feb: European session (sent when the transaction was +10 pips)

•  Lots: 4.0 lots on a $5 040 account
•  Entry      1.5910
•  Stop        1.5940 (30 pips)
•  Target     1.5810 (100 pips)
•  Following stop of 40 pips
•  Move stop to    +1 pip when +10 pips up
•  Move stop to    +20 when +50 pips
•  Risk is 30 pips x 4.0 lots = $ 1 200

Next Pending order Entry

•  Lots:      2.0 lots
•  Entry    1.5860 (50 pips from first entry)
•  Target   1.5810 (50 pips)
•  Stop:      1.5890 (30 pips)
•  No Risk as 4 lots x +20 pips = +$800 and 2 lots x -30 pips = -$600 – Total $ +200

Potential Positive result:

2.0 lots x 50 pips = $ 1 000

4 lots x 100 pips  = $ 4 000

Total                        = $ 5 000

For information on every Expert4x forex technique which could increase your trading account please click on the underlined links in this blog posting.