Closed Trade USD/CHF - Failed Surf

Closed Trade USD/CHF – Failed Surf

Posted July 29th, 2010 by Rapid Forex 10 Comments »

This is a closed trade that was placed on July 28th, 2010 as part of the live forex trading bootcamp.This trade happened after a getting stopped out on the USD/JPY & two successful trades, a 55 pip gain & a 31 pip gain on the EUR/USD. So far my overall success rate with trades during the bootcamp is 63.63%, with a 14% average gain.

This trade was placed in a real forex trading account & was posted as it happened. Below you can read the unedited log of this trade to see an example of Forex Surfing in action:

USD/CHF Archive Trade

The trades to watch for for today’s Sydney/Tokyo session are listed below:

USD/CHF

I’m just entered a 1-hr Forex Sail on USD/CHF Forex Sailing opportunity that I discovered during the the London/New York session earlier today. During the last session prices trended up slightly, making the trade just out of range to get in at fibonacci retracement. Today prices have retraced back down to a better entry price. Here’s the order screen with the settings for the order I have placed: Here’s the 1-hr chart used for entering the trade (the circle is the entry price): Here’s the filled out fibonacci worksheet: Here’s the numbers for the recent wave. It’s a double wave, but since they’re both the same size, I just used the 2nd wave for entry (so the numbers below go with the worksheet): I: 1.0479 II: 1.0640 III: 1.0565 entry: 1.0564 long stop: 1.0479 (max risk = 85 pips) limit: 1.0739 (potential profit = 175 pips) reward/risk = 205.88%

Stopped Out

At 09:37 am GMT on 7/29/2010 this trade hit it’s stop for a loss of 85 pips. It basically went straight down after placing the trade. It happens with some trades.

Tags: 1-hr, 90 Day Forex Trading Bootcamp, closed trade, forex surfing, live trade, online forex trading, trade example, USD/CHF Posted in trades

10 Responses to “Closed Trade USD/CHF – Failed Surf”

George Agnew Says:
July 29th, 2010 at 12:05 pm
How about giving us a running total of pips gained. I have done 4 of the trades(the one I could get in on based on the time receive)I lost 3 of the 4 and am down 164 pips. I don’t mine losing just be a little more honest in your accountablity.Granted I may have missed a couple of trades but what is the total pips you have gained this month.Thank you.

[Reply]
Rapid Forex Reply:
July 30th, 2010 at 12:43 am
@Goerge – I’ve been totally honest in the accountability. This is a good idea. I’ll put it together soon. I just haven’t brought all the trades together in one place.

[Reply]
TraderR Says:
August 1st, 2010 at 2:33 am
Brian
It will be interesting to see what % returns were gained on the initial $200…assuming for each trade we risk say 3% of capital..

[Reply]
Rapid Forex Reply:
August 1st, 2010 at 11:52 am
It’s 5% risk per trade. I’ll be sharing this at the end of the bootcamp.

[Reply]
samson Says:
August 1st, 2010 at 7:22 am
Gud day Brian
it’s been a while. I was off in camp for 3weeks for a mandatory National Youth service corp, but i am back to the world of forex.
I was able 2 place a number of trade b4 I left for camp, I incured a number of losses on shorter term trades (surfs) but had appreciable gains on my forex sails. Overall I had over 800pip gain 4 july and about 23percent increase in my account.
There was a delay in procesing the wire order for the boot camp details and I wasnt registerd 4 the live training, however the payment of the reg fee has been processd though late. I wil forward the email to you. Can u stil sign me in 4 d live trainin cos I dont seem 2 be makin headway when it comes to forex surfing or swimming. Expecting your reply
thanks

[Reply]
Rapid Forex Reply:
August 1st, 2010 at 11:49 am
@Samson – sure thing. Thanks for sharing your experiences. I can still let you in. I remember you explaining this to me before. Just email me. I’ll answer it within the next 12 hours.

[Reply]
Luis Orbe Says:
August 1st, 2010 at 7:35 am
Hi Brian,
I have a $200 acc with etoro.The problem I am having is that I am only able to risk $2.50 per trade and at 400:1 leveridge it equates to about 25 pips per trade.I have been stopped out on most trades before the prices have gone my way.I cant see how you were able to risk 85 pips your usd/chf trade on a $200 account.The platform does not allow me to do that.

[Reply]
Rapid Forex Reply:
August 1st, 2010 at 11:46 am
@Luis – have you tried adjusting your stops after placing the trade? The trade needs to go live before you can do that. It’s not the best system, but you can change your stop & limit to what you want (as long as it’s not within about 12 pips from current price).

[Reply]
Maks Says:
August 1st, 2010 at 10:34 am
Brian, i relly like how you choose trades with very little risk and huge rewards, so that even if such things like with USDCHF happens, there is nothing to warry about, we have to survive few lossing trades to be abble to get more money on winning. No one wins 100% – great examples. I have played ypur sistem now for one month on other account where I can have bigger stops and play more swings and have really good performance – I like it! Thanks.. It’s a struggle on forex batterfield;)

[Reply]
Rapid Forex Reply:
August 1st, 2010 at 11:45 am
@Maks – I know, you can spend a week making gains and one trade can wipe them out. Still, it’s the most exciting & lucrative way to make money I know of. What else is there, sitting in an office working for someone else?

[Reply]

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