USDJPY on daily has some distance to run to 110. We do see 110 on the horizon and being tested.
The hourly panel shows the hammer formation on 2 January. It has put a base for now and we could see upward trajectory. It has broken the resistance at 108.6
January returns are looking super good as we make +11.2% this month. That is a healthy +522 pips with a 100% win rate. However the long term profitability of the system is 85% across all systems. The winning trades far greater in value than you lose due to brilliant and sophisticated risk management employed. The BREAKOUT trades have initial stops at 35/45 pips but they quickly move to breakeven once a pair moves a certain pips into profit. So you cannot lose money. Also if a trade keep going into profit, trailing stops kick in. One of the most sophisticated risk management ever to be implemented on a MT4 based trading system.
Also the system operates on super fast latency of 2 ms which we ensure when you start.
The returns for this year are absolutely brilliant. This was expected because 2018 was a difficult year for many algos. It was not suited for algo based systems because the pairs were retracing almost 100% on regular occassions. But even then FXCOT made +130% return. This will be a blockbuster year because after period of consolidation, we get clean trends. FXCOT can end up making 250% return asit did in 2012 and 2016 years.
The trade taken today is USDJPY. See the level of 108.599 was important because it was the previous high. Prices zoomed higher. But because of the low latency we enjoy with IC Markets server, there was no slippages and prices were caught at exact levels. There was also timely closure. These things are very important and often ignored by retail client. Trading is part technology and part skill.
See the results for January as logged.
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