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FX Mining Pilot: CADCHF

Updated: Jan 22

In this post I'll review the results of Thumb Moneys FX Miner which has produced a 50% return mining the CADCHF market on $5000 Demo account.


1. FX Miner Key Stats




During the 4 week trial period of the FX Miner produced over $2,500 of profits. The configuration of the the miner was adjusted during this period to manage risk. As the account entered a drawdown the miner was reconfigured to be less aggressive and enter positions with wider gaps.


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 CADCHF Pair, December 8th 2021 as depicted by the "A" arrow below. The conditions that made this opportunity ripe for the FX Miner is that it had reached the mid-way point of a long term price range. Short sells were initiated with a target set to the last support line as depicted by the green line. Once the price reached targeted support level "B" the miner was set to long positions. The price has now returned to the mid way market range "C" and will be set to short positions with the exit target set to "B". The FX Finer will continue take advantage of the volatility of the CADCHF market and bank profits targets are reached.



4. FX Miner 4 Week Performance Review


The miner continued to bank profits during the 28 day period with a notable drawdown in equity near the end of December as depicted by the yellow dip at the end of Dec. The miner was then re-configured to operate more conservatively until the dip recovered and was then reconfigured to operate more tightly in the market. The tighter the configuration the more profitable the miner will be however the risk of a significant drawdown increases. The win rate continues to trend in the 90% range which indicates the miner is operating in optimal conditions. At this point profits could be extracted and the miner closed down on this opportunity. As the price has now returned to the mid-range the opportunity is still primed to produce consistent 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 a lot 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 notable but not worrisome as its far from the 80% mark.



6. Summary


The miner continues to produce consistent results across a variety of Forex Markets. It has been recently applied to small live personal accounts in which the Thumb Money Method had been applied. The net result is the miner is able to catch many more market moves and bank profit which would have been missed through manual execution using the Thumb Money Method. .


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



Appendix


1.

CADCHF Review
.pdf
Download PDF • 118KB

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