Forex Signals Blast Off Live Accounts Connected To MyFXBook For 100% Transparency - Full Plan Revealed
Many of you will be glad to hear that all my live trading accounts for Forex Signals Blast Off are now connected to MyFXBook for 3rd party verification and transparency.
Forex Signals Blast Off is my Forex & Crypto signals service that sends trade signals with chart snapshots straight to your Inbox once a day around 5 PM New York time. MyFXBook is a 3rd party verification platform that allows traders to connect their accounts directly for verification, analysis and 100% transparency.
Now everyone can see exactly what is going on in my live trading accounts. Not only does this make my life simpler by eliminating the need to update the website manually… but it should also produce more confidence in the performance reporting.
Basically, you don’t have to take my word for what is happening because you’ll be able to see the good and bad for yourselves.
To further instill confidence, I want to go over exactly what these accounts are intended to do and my overall plan for trading these accounts. There is a lot to go over, so let's get started.
Why It’s Taken So Long To Connect Live Accounts To MyFXBook
In the world of Forex trading, if you don’t have your accounts connected to MyFXBook, most people automatically assume you are an untrustworthy liar that should be avoided at all cost.
So, if I know this, and I’m running a signals service, why has it taken me so long to connect my live accounts to MyFXBook?
Well, I’m one of those rare traders that trade for MYSELF first, and run the signals service second.
You see, I’ve identified Forex trading as a way to accumulate wealth faster than other investment opportunities. My ability to get extraordinary returns on my accounts combined with the power of compounding can help me accumulate the wealth I need in the time I have to secure my financial future.
Therefore, the plan is to put money to work to make more money, and over time, grow that money to a level where my family and I will enjoy lifetime financial security.
This means my real money is being traded. And frankly, I’ve always felt my personal finances are, you guessed it… personal.
This is why I hesitated to connect live accounts to MyFXBook.
Plus, life is messy.
Many of you know this already, but my wife and I over the past 20 years have been dealing with family health issues. First my wife's father and then her mother. This is why we moved from the US to live in Chile full time in the first place.
So, when dealing with a situation like this, you need access to money to cover health costs that pop up. As a result, it was necessary to make withdrawals from time to time. And I didn’t want to have to explain every movement of money in my live accounts to people following me.
Knowing how distrustful people are in the Forex world, these movements in and out of my accounts would have probably just led to people thinking there was something nefarious going on.
I figured that the way I trade and how easy it is to follow my signals allowed subscribers to see how transparent and honest I am. And I appreciate all my subscribers that trusted me and gave me a chance… even without the coveted MyFXBook accounts.
Subscribers who have been with me for a while already know I’m honest about the trading and you get to see the good and the bad.
Now, with the addition of live accounts connected to MyFXBook, other people can learn about my trading performance BEFORE they join with the added confidence of live accounts connected to MyFXBook.
Understanding My Overall Trading Approach
I believe it is important to understand my overall trading approach in order to understand the performance. I do things differently compared to what a lot of people recommend (which might explain some of my success).
What you WON’T see: You won’t see ONE trading account where I place all the trades for all the currency pairs I trade. I’m not trading a “portfolio” on one account where I place lots and lots of trades with extremely small percentages of my account.
What you WILL see: You will see each currency pair I trade treated as a separate and independent account. EACH currency pair I trade has a dedicated account where I only place trades for that currency pair.
This is why when you see the live accounts connected to MyFXBook, there are multiple accounts… each one representing the specific trading performance of the currency pair being traded.
I’m not going to go over WHY I take this trading approach here, because I’ve already gone over this at length elsewhere. I highly suggest adopting my overall trading approach, and you can learn more about it here: Free Forex Training
The Purpose Of The Live Trading Accounts
OK, let’s get into some specifics.
The live trading accounts connected to MyFXBook are funded in Bitcoin. That’s why when you look at the MyFXBook stats, you’ll see the balance in MBT. This means millibitcoin.
1 Bitcoin = 1000 mBTC
So, what is going on here?
I have live trading accounts funded in US dollars. This means the profit and loss are in US dollars, regardless of what I am trading. And as I’ve stated above, I feel my personal finances are personal and don’t want to make these accounts public.
But I also invest in Bitcoin. And funding accounts in Bitcoin allows me to grow my Bitcoin holdings through trading. (The profit and loss are in Bitcoin, or mBTC).
So, I thought it would be a good idea to set up these Bitcoin accounts with MyFXBook so everyone can get the 3rd party tracking they have been clamoring for.
The purpose of the live accounts connected to MyFXBook is to take a small amount of Bitcoin and grow it to a larger amount of Bitcoin through the trading.
Therefore, I am using these accounts to grow my Bitcoin holdings while simultaneously providing 3rd party performance reporting.
Just think about how powerful this way of trading is for a second…
If Bitcoin’s price continues to rise over the long term, which I expect it will, I’ll have more of it. This means MORE Bitcoin at a HIGHER price… which means more profits.
In essence, there is the potential to profit TWICE… first simply from growing my Bitcoin holding through trading and second by Bitcoin’s price rising.
This is why these live accounts are funded in Bitcoin.
But don’t worry about this. If you are following my signals, YOUR profit or loss is reflected in the currency YOU fund your accounts with. If you fund your accounts in US dollars or EUROS, your profit and loss is in US dollars or EUROS.
The important thing is the performance percentages and specific stats of the trading. By having these live accounts connected to MyFXBook, you can see my trading performance with the confidence of 100% transparency and 3rd party performance reporting.
And that really is the point, isn’t it?
The Specific Trading Plan For My Live Accounts Connected To MyFXBook
As I stated above, at the end of 2021 I started live accounts funded with a small amount of Bitcoin and have connected these accounts to MyFXBook.
The plan is to trade these accounts using the exact same signals I provide at Forex Signals Blast Off. The goal is to grow my Bitcoin holdings through trading so if Bitcoin’s price continues to rise, I’ll have more of it.
But I’m going to be doing other things with these accounts as well.
If you’ve gone through my Free Forex Training, you know there are a few things I recommend:
- The Training Wheels Protocol. This is where I add to my trading account every time I have a loss, particularly in the beginning. This protocol helps “kick-start” the account and helps it get into profitability as soon as possible.
- Compounding: Trading over the long term and making profits on your profits can lead to exponential profit growth. I’m not trading these accounts with the intention of taking out money over the short term.
- Systematic Additions: Instead of only growing my account through the trading, profitability can be increased by making additions to the account over time. This helps launch the account into new profit levels through the power of compounding over time.
You can read more about The Training Wheels Protocol, compounding and boosting profitability with additions to your account here: 3 Forex Trading Hacks To Boost Profitability And Shorten The Path To Achieving Your Financial Goals
Basically I’ll be applying to these accounts everything I teach so everyone can see for themselves how applying my trading approach can grow small accounts to meaningful levels over time.
This is a long term project. And the results of this project will be available for everyone to see through the 3rd party performance tracking platform of MyFXBook.
How You Can Copy My Trading
This post is about my live trading accounts being connected to MyFXBook, but we have been talking a lot about how I approach trading and how I’m going to be trading these accounts moving forward. I want everyone to understand exactly what is going on when they look at the stats.
One of the great things about the way I trade is it lends itself perfectly to running a Forex signals service people can actually follow correctly.
I trade on the Daily time frame around the close of the Daily candle. This means I only trade once a day at the same time, around 5 PM New York time. This makes it optimal for sending out trade signals subscribers can actually follow.
Plus, there should be no reason for missed trades or mismanaged trades. That means subscribers can really get very similar results to what is shown on MYFXBook. Basically, what you see is what you get.
Remember, I just started these accounts at the very end of 2021. So, depending on when you are reading this, there might not be that much trading stats yet. I’ll be running these accounts over the long term, so more and more information will be available as time goes on.
If you are interested in copying what I do, you have some decisions to make.
- If you look at the 5 years of trading stats I provide and what is available on MyFXBook at the time you read this and don’t like what you see… I guess this type of wealth accumulation through Forex trading is not for you.
- If you are interested, but want to wait until there are more trading stats on MyFXBook before you join… you can sit on the sidelines for now to see how things go. (However, if you are the kind of trader that needs 10 years of live trading activity on MyFXBook before you get started, you’re going to be waiting for quite some time).
- If you are interested and want to grow your accounts along with me, you can subscribe to Forex Signals Blast Off and receive my trade calls once a day around 5 PM New York time.
To learn more about my Forex signals service, including the MyFXBook links, go here:
Edward Lomax
