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FX Miner Review: EURUSD (Week 5)

Updated: Jan 8

In this post I'll review the Week 5 results of Thumb Moneys FX Miner which is currently in development. This is a continuation of the Introductory post of the FX Miner - Introducing the Thumb Money FX Miner.


1. FX Miner Key Stats

During the 5 week trial period of the FX Miner produced over $500 of profits on a $1000 Demo account. A number of manual trades were executed during this time frame however over 90% of the work was completed by the miner.


2. FX Mining Principles


The FX Miner is built on the Thumb Money Principles taught on our free online Mobile Trading Course. The purpose of the miner is to automate a Traders Workload as they apply the Thumb Money Method so that fewer opportunities are missed as Traders go about their day. The FX Miner also provides advanced settings to manage risk, for example a trader can set the miner to stop if the equity reaches a certain threshold. The FX miner is not a 100% hands off trading solution but is an advanced and effective miner that requires very light management and the right opportunity. As with the Thumb Money method it works in certain conditions not every condition.


3. The Market Opportunity


The FX Miners inaugural trial was executed on the EURUSD, November, 22 2021 as depicted by the green arrow below. The conditions that made this opportunity ripe for the FX Miner is that it was executed after a big push down after a number of days. Long positions where set where the Miner would execute a long trade (buy) every 4 pips up or down with a 2 pip take profit and then subsequently changed for testing purposes to 5 pips gap with 5 pip profit target. The most recent configuration is a 10 pip gap between each trade with a 10 pip profit target which is ideal for conservative traders as it affords money managers ample space to maneuver through adverse market moves. The Market has continued to consolidate during December with no big moves expected outside of this range until the new year. The miner continues to extract profits configured to long positions, which can be switched to short positions once the price moves above the 1.14 mark.



4. FX Miner 5 Week Performance Review


The persistent market consolidation of the EURUSD will have proven to be very frustrating to most traders who are betting on a long or short move up. Thumb Money's FX Miner has capitalized on the consolidation and produced consistent returns. As the market oscillated in the range you can observe the account equity moving with it as depicted in yellow below. There are several points below where the equity (yellow) trend line met the balance line red. Each of these points are potential exit points to switch the miner off and move to the next opportunity with profits. The FX Miner is not designed to run indefinitely in any market condition, therefore its up to the money managers to determine when its time to shut the miner down and withdraw profits.


5. Drawdown


Traders typically strive for very low drawdowns as high drawdowns indicate higher risk to equity. Thumb Moneys risk management approach is very different as it affords alot more room for drawdowns which in essence is the reduction in equity for each account up to as much as 80%. This is only possible on high leveraged 1:100 and above accounts which has a higher level of risk but there are strategies to mitigate that risk. The below drawdown is indicative of a conservative risk management approach as there is a lot of room to manage an unexpected market downturn.


6. Summary


The EURUSD opportunity has proven to be fertile ground for the FX Miner and will continue to mine this market through early 2022. Many may not be impressed by the $500 return though one needs to take into consideration this was achieved using a 0.01 lot sizes. The miner can be configured to run with a much higher lot size, for example if we replicated the market events over the last 5 weeks on a $10,000 account with a 0.10 lot size the return would be over $5000. The miner is perfectly scalable, the results on $100 account can be replicated on a $10k, $100k, or $1,000,000.


If you want to find out more about the FX Miner please email info@makethumbmoney.com.



Author: Ryan Norris Creator of the Thumb Money Method

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