Forex Track Record
What is your track record?
How many pips do you make per month?
We get this question occasionally from traders who would like to learn our system and subscribe to Forexearlywarning. If you would like to see representative trades of how our system works, we post representative trading results every week on our blog and twitter feed. All recent trades and trends can be verified with most charting systems or our simple trend indicators. Just look at the signals and intra-day time frames. All of the example trades posted on our blog or twitter feed are time and date stamped.
Since we trade 28 pairs and can also find additional trades in the Asian session, our pip totals are naturally going to be much higher than other systems that only scalp one or two pairs with technical indicators. We make every effort to thoroughly document recent trades that can easily be verified by any trader.
The forex industry has no guidelines or standards for track records. The track record is whatever anyone says it is. When the market is trending we have given out as many as 30 trading plans on the same trend in the same direction on the same pair, over the course of several weeks or months. When preparing a track record how should this be counted in the track record? Is it one entry or all 30? Nobody really knows and there are no guidelines. In the main trading session if the JPY is weak one of our clients may buy the EUR/JPY and another client may trade the GBP/JPY, and another client may do a JPY basket trade....what pip total do you record for the track record? Once again nobody knows but all three of these trades are perfectly valid.
When currency pairs are oscillating in a trading range we assign support or resistance price targets to many trades in our trading plans. In this case you can have some level of measurable pip totals. Sometimes, in a choppy market, levels cannot be determined by us or anyone else.
We make pips two ways, with our published trading plans, trading in the direction of the trends or large oscillations in the forex market, and every week The Forex Heatmap® indicates other trades daily which may not be in our trading plans, we call them "supplemental trades". By trading both ways in two trading sessions across 28 pairs, the number of pips to be made is higher than any system we have found. If the GBP pairs are strong or weak in the main trading session this group of pairs can easily move 2000 pips on one trading session, because the GBP pairs are volatile. The GBP pairs are only one group of currencies out of 8 groups that we follow.
To know how you will perform with the Forexearlywarning system, you must study the system, then demo trade for a period of time to get a fix as to how this system will work for you. Then development of your track record and estimating how many pips are possible for you under changing market conditions and your personal time schedule becomes much easier.