Fx Profit Wave

[superjosh]

I just wanna share a win I made today! It was very easy for me to see the market trend because of the profi wave. by the way, i attended the webinar last wednesday and thank you Adrian for explaining every details with clarity. I am looking forward to the next webinar. This time i traded on the M30 timeframe and made an exit as soon as I saw a big profit.

[Adrian]

Hi Josh thanks for sharing
You could move your stop toward entry or closer to the current price if all indicators are still bullish so as to still hit your target
Well done on banking profits!

[robclif040485]

Hello, Adrian. Thank you for your ideas. I'll take those into consideration in future trades. But for now, I just wanted to give you an update on my trade that I mentioned yesterday here. So far, everything is going in the right direction. I'm hoping it gets to my TP sooner. I just need clarification on one point. What exactly is a swap? Is there any way to avoid it? because, as you can see in the attached photo, there is a negative swap of $24.43 and it affected the running profit. I would appreciate your explanation on this one.

[Adrian]

Hi Rob
thanks for the question
A swap (also called a “rollover fee”) is charged when you keep a position open overnight.

It consists of the interest rate differential between the two currencies of the pair you are trading.
and is calculated according to whether your position is long or short.

To Calculate Swap For forex, here’s the formula to calculate swap:

Swap = (Pip Value * Swap Rate * Number of Nights) / 10

Rollover Example
Trading 1 mini lot or 10,000 units of EUR/USD (long) with an account denominated in USD.

Pip value: $1

Swap (long) rate: -3.3154

Swap fee: (1* -3.3154 * 1) / 10 = -$0.33

Just know then that if you let a trade stay open overnight that the broker will charge you a swap

[Emilia Jonas]

Hey Adrian! Another day, another trade... So I entered this trade, and decided to do something else, and be back like after 10 minutes. But the funny thing was that I totally forgot lol. Luckily, the indicators were still right for a buy trade and so my trade was still winning. I immediately closed the trade because I might forget about it again haha. Anyway, I still won $60.29 for this one and still very happy.

Also, I just noticed. I trade once a day and it's been 3 days of winning trades! I'm so happy!!

[Adrian]

Great Emilia well done on your success!

[leila]

Hey Adrian,

I've got a good problem to share with you.

I forgot to set any stop loss or take profit levels for this trade...

I entered at 0.66657 on a buy trade.




And the good thing...it's now up a whopping 500 pips!

Can you believe it? I'm watching it soar even higher.

But here's the thing I have no clue about the timeframe for this trade anymore.

I can't tell if it's on the M30, M15, or M5 timeframe.

Is there any way to determine the timeframe of a trade when I've totally forgotten which one it falls into?

Thanks!

Leila

[Adrian]

Hi Leila
Thanks for the question and glad to see you made a good profit there.

We do want to trail out stops I suggest:

1 raise your stop to the next nearest swing low for this buy trade
or
2. as its weekend coming up simply close your trade and bag the profits
or
3. If you prefer, after setting 1 above, you could let it run but monitor on the 15 minute chart until you see an indication from 2 indicators that the market is changing and then exit at that time

Any which way you want to at least secure your profits for this trade

Without knowing which timeframe I suggest defaulting to the 15 minutes as entry levels anyways remain the same on all though you could track your trade back to wherever the entry is on each time frame to see which lined up according to the rules at the time the trade was taken...in any event my suggestions are take your profits while you have them before Fridays session closes

[robclif040485]

After testing the Profit Wave for a week, I found it to be a fairly straightforward and easy-to-understand trading strategy. The system focuses on using moving averages and a set of predefined rules to identify potential trade setups and entry/exit points.

One positive aspect of the system is its simplicity. The rules are clearly explained, and the indicators used are readily available on most trading platforms. This makes it accessible for beginners like myself who are still learning the ropes of forex trading.

I have no trades running at the moment. will post another update tomorrow.

[Emilia Jonas]

Hey Adrian. I did not trade during the weekends as I was invited to go to a friend's place. I traded just today but unfortunately, it was loss. I had high hopes that it will go down... But it went up. Luckily, I just did a short trade so the loss was just $73. I noticed most of the charts are going sideways but I did not mind it because I saw a small opportunity. I should've taken into consideration that the charts were going sideways. Took the risk because it was just a small trade but yeah I guess we don't win all the time right? lol

Anyway, if I didn't follow the 1:1 ratio, the loss might be much higher. The FX Profit Wave really do minimize risks. Will trade again tomorrow and I will still update you of the results.

[Adrian]

Hii Thanks for sharing Emilia
I suggest especially on a Monday to first wait for the London market to open as significant moves can be made during this time
(sometimes against the original direction you may have earlier wanted to trade in)
The London session opens at 0800hrs GMT, just as the Tokyo session closes. This is the biggest forex trading session, accounting for over 32% of all activity.

[leila]

Hey Adrian,

I'm preparing to set up my first buy-stop trade, and the reason for that is the resistance level.



I want to make sure it's convincingly surpassed before confirming a long position.

So, here's my plan...

I'll set the buy-stop order just above that resistance level.

If the price breaks through and holds above it, then it's a green light for me to go long.

I'm hoping this strategy will help me catch a solid uptrend and avoid any false breakouts.

Thanks!

-
Leila

[Adrian]

Hi Leila
Looks good to me Please keep us updated on the progress of this trade

[superjosh]

Hi Adrian. In cases where the market is going sideways, is it best to close the trade to minimize the losses? Im just a bit anxious because I dont have an idea if the market will go up or will dip. Or is it too soon to tell? By the way, I exited this trade the moment I saw a red candle and made profit. What are your thoughts on that?

[Adrian]

Hi Josh

Yes in a sideways market often times price will then at the end of the sideways movement break in on or the other direction. In the instance above I can see 2 indicators have turned to signal price is moving in the opposite direction to you initial trade and in such circumstances it would be better to cut your loss and close the trade

[Emilia Jonas]

June 13 update:

Hey Adrian, I entered 2 trades for today and this was the first one. This trade has been going too long for my liking and it seems that the trend is going sideways if I'm right... And so I decided to just close the trade. It still won $31, though. So that's still a win.



Now for my second trade... This is where I was mind blown...

I actually put some markers for my SL and TP values... And then I let the trade go on for a while... When I checked again, I saw that it was losing but I was confused because it's way past my markers... I looked at my trade details.... Here's the funny part... I actually forgot to modify the trade and input my stop loss and take profit... So yeah the trade is still running and is over $150 loss... So my plan is to just wait for things to turn around.. If I see that the trade is on the winning side, that's when I'll close this trade... Am I on the right track? What do you think, Adrian?

[Adrian]

Hi Emilia thats teh advantage of using a demo account when practicing especially when new to trading.
In regards to that second trade you referred to rather close the trade... if that was your real funds on a live account you wouldn't risk it right? you have to think as if you are trading on a live account even if on demo as if the rules weren't followed now its just a gamble and an expensive one... rather close it accept the loss and move on

[leila]

Hey Adrian,

I'm thrilled to share some exciting news! I recently made a whopping 1097 pips on a trade.



Can you believe it? It feels like hitting the trading jackpot!

One of my strategies was adding a trailing stop loss of 50 pips.

It proved to be a game-changer, allowing me to lock in profits while giving the trade room to breathe and capture additional gains.


What are your thoughts on using trailing stop losses?

Have you found them beneficial in maximizing profits while managing risk?

I'd love to hear about your experiences and any tips you can share on optimizing trailing stop-loss strategies.


Thanks!


-
Leila

[Adrian]

Hi Leila
Well done!
Absolutely a trailing is recommomended and in the next webinar of 15th June I'll be covering that in more detail also

[superjosh]

I just want to make an update. I made a total of $487 profit today with no losses! I find it easy to read the market trend and when to enter/exit a trade. Mind you, I am a beginner and profit wave is the first system I have ever used. I have a current profit of $2,081.59 in my one week of trading. I have attached my most recent trade. Cheers everyone! I am very conservative with my trades. once i see that the market is moving down or sideways I immediately exit a trade to prevent losses. so far it has been working for me. I am starting to think I may have a career in trading very very soon!

[superjosh]

I just have a question adrian, I usually follow the 1:1 risk reward ratio that you discussed in the previous webinar. But to be honest, i think my appetite for risk is less than that. Usually, i close the trade once I see profit im goood with. I dont usually even let it hit take profit unless I leave it (set and forget). would you consider this as a good practice? also, when is the best time to trade?

[Adrian]

Its better for returns to have a 1:1 or even 2:1 TP target - otherwise you basically are in a free trade needing to monitor all the time
Best time to trade usually is during the London session open and the new york session open

[Russ]

SuperJosh, I think I can answer your question.

There is an issue when it comes to targeting less than 1:1.
It's basically a math thing. If you are winning less than you stand to lose, you will ultimately end up losing money in the long run. It will be almost impossible to grow your account. For ever loss you have, you will essentially undo 2 or more wins. In order to recover from one loss, you will have to win more than one trade.

The reality of small wins and big losses is to make any money, you will have to have an absurdly high win ratio, and there will be times when that just isn't possible.

There are 3 ways you can cheat the market and almost guarantee that you will make money, and making money is what we are here for:
1: Win more often than you lose.
2. Win more then you lose.
3. Manage the trade to reduce your losses.

There is a baseline for each of those, or a minimum requirement.
We want to have at least a 50/50 win rate.
We want to have at least a 1:1 reward to risk ratio.
We want to lose less then we win.

Your question falls under the second part, having at least a 1:1 reward to risk ratio.
If you are closing your trades before you let them hit your 1:1 target, I am going to assume that you are not doing the same with your stop loss, you are most likely letting the trades hit your full stop.

In my 20 plus years of experience, I have learned that it is critical that you allow your trades to follow through and hit the target that you have set out, or what's the point of even having a target. Of course it's ok to close a trade early on occasion, but it shouldn't be something you do on all your trades.

What I want for you is to make money, and I think that's what you want as well.
Allowing your trades to "mature" is one of those aspects that you have to allow your trades to do. You might never be completely comfortable with it, but I know you can do it. All great traders do, and you can indeed become a great trader with the habits that allow you to be great.

[Emilia Jonas]

Hi, Adrian. I've read your reply in my previous comment and I totally agree with you. I'll keep that in mind. This is gonna be a short update. As usual, I entered a trade today and this was my trade... This one's still running by the way.

I am checking it every now and then because I'm afraid it might lose again just like my previous trade... But I'm still hopeful because the trend is still going up... It's still in the upward direction like what I'm hoping for. Let's see how it goes. I'll update you with the results. And just like you said, once it goes to the losing side, I'll immediately close the trade, but for now it's doing good.

[Adrian]

Hi Emilia
Thanks for the update
overall looks to be valid though I would caution entering after more than 5 candles from the original signal candle - if the conditions still apply which they do then it is still a valid entry just would enter if I saw a stronger candle / bigger candle where you entered as the trade could turn - keep an eye as you mentioned

[Emilia Jonas]

Hi Adrian! I'm so excited to share the result with you! So, this was the same trade as yesterday. As you said, I kept an eye because I'm scared of losing again. I can't seem to contain my happiness, I've been jumping for a few minutes now. lol. I just won $830.92 in just 1 trade! Omg. I closed it before even reaching the TP because I'm afraid it might go down again and it'll become a loss. I'm so so so so happy with this win! My biggest win so far!

[superjosh]

Hi Russ and Adrian! I would like to thank you both for providing me such extensive insight on what I posted yesterday. I agree with your point Russ about not letting my trades mature enough to become real profits. I also traded on NY open as you suggested Adrian. And I am mind blown with the result! Three consecutive wins! This may not seem big for most traders but for someone who is trading for just 2 weeks now, I consider this a big win. Looking forward to the next webinar. Thanks guys!

[Adrian]

Good going Josh! Keep it up

[pride11]

How to install the system guys?

[Adrian]

Hi and welcome!
You will see there is an exe file in the first post - you need only click on that and it will instal automatically on you preferred MT4 platform
I also have some explanations for you under recorded webinars https://www.surefiretrading.com/foru...embers-webinar