More +40% PROFIT In Forex Trading - Challenge Part 6

When this channel was blessed by the YouTube policies, I said I will pause all the activities on the small account challenge, and will resume when everything is back to normal. Well, here we are around 3 months later. The 50 dollars challenge account is up by 80 percent. That’s right. In the last video, I think we were up by around 40 percent. But this time, I was able to take some of the best risk to reward trades, and some A+ quality setups. I only took 6 trades, but because price made a big move in my favor, 2 of my trades made a really good profit.

So after 11th May, I directly took a trade on 10 August. This was kind of a forced trade. Since I didn’t take trades for almost 90 days, my broker was going to charge fees for keeping the account inactive. So instead for paying around 10 dollars in fees, I took 1 trade to keep the account active. I took this trade using the MACD strategy. I was able to win this trade, and the MACD strategy did not disappoint.

Now, directly on 18th August, I was able to get the best risk to reward trade I have taken on this small account. The trade was on AUD CAD pair, and the time frame was 5 mins.
I drew some support and resistance areas using multiple time frames, and saw that the price was near a strong support. Furthermore, the price was near the 200 period exponential moving average, it was in an uptrend, and the MACD was also giving a buy entry signal. So, with no hesitation, I took a long position, and had a very tight stop loss. One of the reasons, I had a tight stop loss, was because of the engulfing pattern price had made near a strong support. With so many buy entry signals, If price would have crossed below the support area, I would had liked to get out of that trade.

But it worked in my favor. The price made a big move towards the next strong resistance. I got out near the top of this price structure, and booked a good profit. Since I was trading after a long time on this account, I decided to trade with the current total account, instead with the amount I started with.

The next trade was on AUD USD. This was a good trade, but I got stopped out. I drew some strong support and resistance levels. And I entered at the engulfing pattern. But this time, even though the direction was right, I lost with a large amount, because the spread became very big while exiting the trade.

Similar thing happened with the next trade. The trade direction on EUR GBP was right, but spread got very big after I entered the trade. So I had to get out with a small profit. I took this trade on 5 mins, when MACD was giving a buy entry signal, and price was near the 200 exponential moving average.

Then I took 2 more trades on AUD CAD, for a very good reason. This is the same pair I made money on few minutes ago. Last time, I took a long position on this pair, and made a good profit.

This time, when I saw the price was struggling near the resistance area. I took a short position. Furthermore, the price also gave a false breakout at a strong resistance level. The first short trade I took was when the price came below the resistance level. And the second trade was around this area, where price had a strong rejection from above.

As you can see, price then made a big move down, and I booked my profits around the next strong support areas.

That’s all. With the two good trades on the AUD CAD pair, I was able to grow this small account by another 40 percent, approximately. And now, the 50 dollars small account is up by almost 80 percent. We are very close to our 100 percent goal. Hopefully we will get there without blowing up the account.

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