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FX Mining Pilot - USOIL

Updated: Jan 8

As development and testing of the Thumb Money FX Miner continues, many different currency pairs have been running with the miner for two weeks or more 24hrs a day 6 days a week. Below are are the results of miners first attempt at Mining USOIL.


1. FX Miner USOIL Key Stats


Above are the results of the FX Miners Performance after 13 trading days running 24Hrs. The Miner won 100% of the executions during the 5 day period and the test was conducted on a $20,000 account where it produced a return of 52%.. There was some human intervention to to monitor the miner and bank profitable trades before it hit the profit target.


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 trial run was executed on a USOIL on Dec 8th 2021. The justification for entry was based on persistent bullish sentiment on Global Oil Futures. The price was in the process of recovering from a significant drop and the probability of price reaching the $80 mark in the next several weeks or even months was high. The green arrow represent the day the miner was executed which was followed by another drawdown in price, the miner was set to initiate long positions anywhere below the $80 price point. As the price fell long positions were automatically initiated with a set TP profit. The price then retraced back to the initial starting point and profits were banked during this upward swing. The miner was stopped at this point to use the data for this cases study.



4. FX Miner Trading Performance Review


The below stats represent the trend over the 2 week trading where 25 trades were executed and closed in profit. As this trading period was to pilot the FX Miner on USOIL varying trade lot sizes were used and many of the profits were taken manually which the miner would automatically replace and continue working with the applied rules.



Summary


The above results is another use case for the FX Miner in which very little human intervention is needed. In this scenario the account was checked once or twice a day to ensure the miner was following the set rules and to bank any available profit manually although it could also auto bank profit. There would be low risk to replicate this on a live account as there was adequate equity in the account to absorb a significant adverse drop. The FX Miner continues to produce encouraging results as its applied to many different currency pairs.


For more information contact the team at info@makethumbmoney.com.



Author: Ryan Norris Creator of the Thumb Money Method



Appendix


  1. FX Miner Data


USOIL Stats
.csv
Download CSV • 2KB

USOIL Statement
.pdf
Download PDF • 8KB

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