At the end of 2021, I set up accounts for Forex Signals Blast Off and hooked them up to MyFXBook. This has been something people have been requesting for quite some time. This not only helps with the transparency of the service… but makes performance reporting very easy for me.
In the first quarter of 2022, PMTW Forex Signals made money on +2774.9 pips resulting in +90.67% gains over the Forex portfolio. These profits were made trading Forex in only minutes a day, and can be followed by subscribers who get a signal email delivered directly to their Inbox once a trading day.
Let’s take a look at the performance in more detail…
FSBO Currency Pair Breakdown
Click on image to make it bigger
As you can see, all the currency pairs we trade ended up in positive territory for the 1st quarter of 2022.
If you want to dive into the stats of each currency pair, you can do so at MyFXBook:
| BTCUSD | ETHUSD |
 |
 |
| GBPJPY | GBPUSD |
 |
 |
| GBPAUD | EURJPY |
 |
 |
My Trading Approach For
Forex Signals Blast Off
Forex Signals Blast Off
Showing the results I achieved in my live trading accounts is one thing… but I think it is just as important to understand HOW these results were achieved.
Time Frame: I trade exclusively off the Daily time frame. This not only provides for stronger trade setups, but reduces the trading time down to just minutes a day. Plus, this end of day, set and forget trading style make it very easy to run a signals service… and very easy for the signal subscribers to follow the signals correctly.
Basically, this approach means there is no reason for missed trades or mismanaged trade for either me or my subscribers.
Currency Pairs:
I don’t believe in trading lots of currency pairs on one account. I believe in focusing on the best currency pairs for the strategy I am trading, and trading each currency pair on a separate account.
Basically, each currency pair I am trading is treated as a separate and independent trading business.
Taking this into account, I focus on four currency pairs: GBPJPY, GBPUSD, GBPAUD and EURJPY.
Risk Per Trade:
Since I am trading only one currency pair per account, I am only taking one trade at a time on each account. This allows me to control my risk per account by using 5% of my account balance per trade. This approach allows me to achieve meaningful potential profits without putting my trading account in too much risk.
Risk To Reward Ratios:
One of my golden rules of trading is to always seek more profits on winning trades than you lose on losing trades. This means we are always trading with a risk to reward ratio greater than 1:1.
-GBPJPY: Final target 5 TIMES the stop loss size
-GBPUSD: Final target 3 TIMES the stop loss size
-GBPAUD: Final target 3 TIMES the stop loss size
-EURJPY: Final target 2.5 TIMES the stop loss size
Using a positive starting risk to reward ratio is only one of the ways we strategically design our trading for long term profitability.
Trade Management:
Trading is stressful when real money is at risk in the live markets. For this reason, we engage in various trade management activities that help reduce stress, protect profits and keep us trading according to the rules.
Moving SL To BE+2:
When the market goes in our favor 70% of the stop loss value, we move our stop loss to Breakeven + 2 pips. This removes all the risk on the trade.
Taking Partial Profits:
When the market goes in our favor and reaches 100% of the stop loss value, we close 50% of the position size. This means we are banking some of the profits in the trade and letting the rest run.
Locking In Profits:
As the trade continues to develop, we may move our stop loss to lock in more profits. This means if the market reverses, we can still capture some profits on the trade.
These trade management rules help with the psychological stress of trading, which I think is very important for people following Forex signals.
I advocate for taking a long term view of my trading activities. I understand I am going to be growing my accounts over time to reach the wealth levels I desire. This means I need to trade in a way that can be sustained over the long term.
You may have heard already, “Forex trading is a Marathon, not a sprint”.
In order to fulfill my long term goals, it is essential my earnings exceed my efforts. In short, my earning potential must be greater than the time and effort I put into trading.
By keeping my trading simple and only trading minutes a day, I can almost guarantee my earnings will exceed my efforts… which means I can continue to stay motivated over the long term.
Compared to other investment opportunities, Forex trading has an extraordinary profit potential (as you’ve seen above). The fact that these results were achieved by trading very few currency pairs, with only a handful of trades and in only minutes a day makes the results that more impressive.
Follow The Signals
Forex Signals Blast Off is arguably the simplest and fastest way to start trading the Forex market with high profit potential. Trade signals are sent directly to your Inbox once a trading day… and you simply follow the instructions.
Step 1: Receive the signals email between 6 PM and 6:20 PM New York time. The email contains links to chart snapshots.
Step 2: If there is any trading activity for the day, simply follow the instructions on the chart snapshots.
To Learn More, Go Here:
PMTW FULL ACCESS PASS
High profit potential ways to put money to work… all under one roof!
Your Wealth,
Edward Lomax
