Hi there. As I promised in my introduction to the Forex Rebellion system (see this link), here I am with a update to let you all know how the system is performing. Before I go on and post the trade results I’d like you all to know a few details regarding my methodology. First off I am trading on a standard 100K DEMO FXCM UK MT4 account. Second, I am trading on the 1 Hour (aka H1) time-frame. I decided this would be the best time frame for me. The system’s creator says you can use Forex Rebellion on any time-frame except M1 and M5 – specifically the system works with M15, M30, H1, H4, and D1. I am not in front of the computer for extended periods of time so for me M15 is not possible, hence my decision to trade on H1. For me trading on the H1 chart is sort of a “sweet spot” as far as how many trade signals I get using the system.
Here is my performance statement so far. When it gets bigger I’ll provide PDF statements but for now a simple copy and paste shall do.
9109009 2009.10.12 10:02 balance Deposit 100 000.00
9109492 2009.10.12 10:11 buy 1.00 eurusd 1.47305 0.00000 0.00000 2009.10.12 11:09 1.47552 0.00 0.00 0.00 247.00
9120808 2009.10.12 14:17 buy 1.00 usdjpy 89.929 0.000 0.000 2009.10.12 14:22 89.932 0.00 0.00 0.00 3.34
9123773 2009.10.12 14:57 sell 1.00 gbpjpy 141.932 142.314 140.970 2009.10.13 01:28 141.870 0.00 0.00 0.00 69.15
9154521 2009.10.12 20:00 sell stop 1.00 nzdusd 0.73135 0.00000 0.00000 2009.10.13 04:58 0.73700 cancelled
9154549 2009.10.12 20:01 sell stop 1.00 audusd 0.90439 0.00000 0.00000 2009.10.13 04:58 0.90721 cancelled
9202277 2009.10.13 11:06 buy 1.00 audusd 0.90834 0.00000 0.00000 2009.10.14 06:10 0.91294 0.00 0.00 0.00 460.00
9202319 2009.10.13 11:05 sell 1.00 usdcad 1.03039 0.00000 0.00000 2009.10.14 06:10 1.02833 0.00 0.00 0.00 200.32
9202404 2009.10.13 11:05 sell 1.00 usdchf 1.02441 0.00000 0.00000 2009.10.14 06:10 1.02011 0.00 0.00 0.00 421.52
9285342 2009.10.14 11:17 buy 1.00 gbpjpy 142.807 0.000 0.000 2009.10.15 15:11 146.829 0.00 0.00 0.00 4 447.74
9291702 2009.10.14 13:01 sell 1.00 nzdusd 0.73860 0.00000 0.00000 2009.10.14 20:08 0.73896 0.00 0.00 0.00 -36.00
9291722 2009.10.14 13:02 sell 1.00 audusd 0.91158 0.00000 0.00000 2009.10.14 20:07 0.91507 0.00 0.00 0.00 -349.00
9291795 2009.10.14 13:30 buy 1.00 usdjpy 89.804 0.000 0.000 2009.10.15 11:52 90.007 0.00 0.00 0.00 225.54
9333158 2009.10.15 09:11 sell 1.00 eurusd 1.49253 0.00000 0.00000 2009.10.15 14:46 1.49017 0.00 0.00 0.00 236.00
9347212 2009.10.15 13:22 sell 1.00 nzdusd 0.74114 0.00000 0.00000 2009.10.15 14:46 0.74491 0.00 0.00 0.00 -377.00
9372194 2009.10.15 21:58 buy 1.00 eurusd 1.49456 0.00000 0.00000 2009.10.16 06:02 1.49229 0.00 0.00 0.00 -227.00
9386242 2009.10.16 06:05 sell 1.00 eurusd 1.49195 0.00000 0.00000 2009.10.16 10:08 1.49102 0.00 0.00 0.00 93.00
9386419 2009.10.16 06:06 buy 1.00 usdcad 1.03413 0.00000 0.00000 2009.10.16 09:32 1.03307 0.00 0.00 0.00 -102.61
9386429 2009.10.16 06:07 buy 1.00 usdchf 1.01664 0.00000 0.00000 2009.10.16 10:08 1.01775 0.00 0.00 0.00 109.06
9390958 2009.10.16 08:01 sell stop 1.00 audusd 0.91806 0.00000 0.00000 2009.10.16 10:08 0.92114 cancelled
9390980 2009.10.16 08:03 sell 1.00 gbpusd 1.62624 0.00000 0.00000 2009.10.16 09:32 1.63426 0.00 0.00 0.00 -802.00
0.00 0.00 0.00 4 619.06
Closed P/L: 4 619.06
As you can see, in only a few days I pulled in roughly $4000 in profit. Some of those loses should not have happened, but what can I say, I’m still getting used to trading the system, and admittedly I’ve made a few mistakes and misinterpreted a few signals. I hope come this trading week to improve my success rate and rack up some more major pips.
I’ll get back you all with another update possibly by the end of the week.
Cheers,
Alan
Useful links:
Forex Rebellion Homepage
Forum thread where you can discuss this system with other traders
Are your profit/loss statements in Canadian dollars?
I really can’t believe in any trading robot. I have been around a block more than a few times and the point is: a bot could work for a certain time during a certain market behaviour, say trending, range trading etc. But once the conditions change the bot doesn’t know what to do. So it doesn’t do anything. Therefor I am much more into a “method” rather than a (automised)system, like VSA par example. If interested please contact me; I am not a sales person btw.
Regards
Peter
To limitup: No, my P/L statements are all in USD
To Peter Ris:
This is NOT a trading robot. This IS a method. Please bother to checkout the product’s homepage before commenting – nothing personal of course. I wish you the best of luck with your trading 🙂
hi Alan,
you Signal,Trades you take all confirm to the rules, or you have some more filters?
Yes I take all the trades that meet the system’s criteria. In my opinion though the system could use some additional filters because during times of consolidation (aka range trading) you’ll get banged around a lot by the market which will drain your account’s balance.
Well, this at least happened to me recently on the H1 chart. Perhaps I should trade on higher time frames (H4 or D1) where I can maybe perhaps avoid market choppiness. I’ll figure something out and let you all know what I come up with.