Real , USD
IC Markets , 1:500 ,MetaTrader 4,
Blackwave Strategy - Basics and Targets
The strategy is a manual grid strategy. While it has traded exotic and EM pairs profitably in the past it only trades major and minor forex pairs now to reduce the cost of SWAPS and the inherent political/geographic/economic uncertainty around many exotic/EM pairs. When markets are overbought or close to overbought trades are opened counter-trend. When profit targets are hit trades are closed. If the market continues to move against the initial position then a second trade is opened based on candlestick price action and how the market is trading/pending news etc. Up to 12 positions maybe opened.
When markets are oversold or close to oversold trades are opened counter-trend. When profit targets are hit trades are closed. If the market continues to move against the initial position then a second trade is opened based on candlestick price action and how the market is trading/pending news etc. Up to 12 positions may be opened.
Risk control is achieved through position sizing. Position sizing MUST be the most important feature of the strategy because there is no hard stop loss and no hedging. People will often happily accept extraordinary profits and only query the strategy when they experience a stressful drawdown in their own account even while the master account remains quite safe. This is because they have failed to understand how crucial position sizing is for the strategy.
While there is no hard stop loss there is a soft one which is market dependent and as follows;
now is one of the oldest strategies on most copy trading platforms. It is the inspiration for three MAM accounts managing $3m of other peoples money. I never place trades in client accounts that I do not wish to place in my own accounts too and as at June 2019 my own commitment to this strategy across all three risk levels is $190k.
These are the basics. To give any more information would be to reduce my flexibility and take away the major advantage of a manual strategy and make it effectively automated. As a former stockbroker I like to watch all markets at once and get a sense of what's going on rather than put blind faith in back-testing which in the end only tests the past.
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HIGH RISK WARNING: Foreign exchange trading carries a high level of risk that may not be suitable for all investors. Leverage creates additional risk and loss exposure. Before you decide to trade foreign exchange, carefully consider your investment objectives, experience level, and risk tolerance. You could lose some or all of your initial investment; do not invest money that you cannot afford to lose. Educate yourself on the risks associated with foreign exchange trading, and seek advice from an independent financial or tax advisor if you have any questions. Any data and information is provided 'as is' solely for informational purposes, and is not intended for trading purposes or advice.
PAST PERFORMANCE RESULTS ARE NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFITS OR LOSSES SIMILAR TO THOSE SHOWN. THERE ARE NUMEROUS OTHER FACTORS RELATED TO THE MARKETS IN GENERAL OR TO THE IMPLEMENTATION OF ANY SPECIFIC TRADING PROGRAM WHICH CANNOT BE FULLY ACCOUNTED FOR BY PAST PERFORMANCE RESULTS. PROSPECTIVE CLIENTS SHOULD BE PARTICULARLY WARY OF PLACING UNDUE RELIANCE ON PAST PERFORMANCE RESULTS AND SHOULD NOT BASE THEIR DECISION ON INVESTING IN ANY TRADING PROGRAM SOLELY ON THE PAST PERFORMANCE PRESENTED. ADDITIONALLY, IN MAKING AN INVESTMENT DECISION, PROSPECTIVE CLIENTS MUST ALSO RELY ON THEIR OWN EXAMINATION OF THE PERSON OR ENTITY MAKING THE TRADING DECISIONS AND THE TERMS OF THE ADVISORY AGREEMENT INCLUDING THE MERITS AND RISKS INVOLVED.