Above is the partial trading statement (as I can't capture all in a single picture file, but the summary on trading statistic is provided) from one of my students in my first official SGI FX Trading class conducted in Feb 09. Though this is just a demo account statement, but for a newbie to achieve such result is really an achievement.
This student of mine is very new to forex trading and this is her first time trading in forex. She is using the indicators that I've taught during the class, though it is a common indicator available, but I'm teaching how to use it in a unique way which help to increase the probability of success. As promised, I'll guide along individual student and go through their trades as well. This is to ensure that they are on the right track.
I've went through the trades one by one from the statement, some of the trades are base on the setups, but some are not. For those trades that follow the setups, most of her 10~20pips target price got hit very fast. But for those trades that does not follow the setups, most have swing against the direction of trades for quite a while before moving along with the trade and touches the pre-set profit taking level. This type of trade is actually very high risk as it need a bigger capital to withstand the swing. I've discouraged her for making similar trades as it is very risky and if the rate continue to go against her direction of trade, she will have making a significant loss instead of winning 10pips.
I always encourage my students to strictly follow the setups for both entry and for exit, as that will help them to minimise their risk, maximise their profit and have higher probability of winning.
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