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FX Mining Pilot: CADCHF (Week 12)

Updated: Mar 12

This post reviews the performance of Thumb Moneys Forex Miner (FX Genius) which has produced a $6,149.79 return from a $5000 demo that was traded from December 7th, 2021 to March 3rd, 2022. The purpose of the trial was to assess the performance of the miner on a non-USD currency pair.


1. FX Miner Key Stats

During the 12 week trial period of the FX Miner produced a daily return of 0.91% with a total gain of 123.73 %. The account was actively managed where manual trades were executed during the time frame in parallel with the miner which was reconfigured on several occasions to adjust the market price action.


2. FX Mining Principles


The FX Miner is built on the Thumb Money principles which automates 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 7th, 2021. Short /Sells were initiated with a target set to the previous support as depicted by the lower green line. Once the price reached the lower support level the miner was set to Long/Buy positions. The miners' trade direction was manually reversed back to Short Sells as the resistance line in the A box was reached. As the price remained in the "A" Box depicted below the optimal setting for the miner would be Sell, as the price moved into the "B" Box the optimal setting would Buy. This particular currency pair tended to range between the top of the "A" level and the bottom of the "B" level which served as a prime opportunity for the miner.



4. FX Miner 12 Week Performance Review


The miner consistently banked profits during the 12 week period ending with a 95% win rate which correlates with results across many other currency pairs that have been tested using FX Genius. An average monthly return of 32% was achieved with 931 trades executed on CADCHF. One manual error was made which resulted in a single USDJPY trade being opened which was quickly closed with a small loss.

5. Drawdown


Traders typically strive for very low drawdowns as high drawdowns indicate higher risk to equity. Thumb Moneys risk management approach is unique as it affords traders room to recover from mistakes that can result in a drawdown (the reduction or loss of equity). This is only possible on high leveraged accounts of 1:100 and above. During the trading period a spike in the drawdown occurred at the end of December due to a strong move in the opposite direction of the trade. To reduce risk the miner was configured to track fewer trades or a more conservative approach until the trend changed back to the desired direction.


6. Summary


The above results are exceptional in the world of Forex Trading. Many ask "how is this possible?". The simple answer is the miner operates within defined laws of the market.


An aircraft is able to fly at altitude so long as it has thrust and lift, it operates with within the bounds of physical laws.


Likewise, the miner (which is an algorithmic bot) operates within the bounds of Market Laws which enables it consistently extract profits. The Market Laws are theoretical principles developed by Ryan Norris inventor of the Thumb Money Method and FX Genius which are common to all markets. It's noteworthy that the miner doesn't rely on indicators, you cannot set a stop loss, no technical analysis is required.


The results from this test highlight the consistent performance of the miner which has since moved into Phase 3 testing on small to medium-sized Live Accounts.


If you want to find out how you can get involved with FX mining then keep a lookout for our upcoming workshops where you can test the miner out for yourself.



Author: Ryan Norris Creator of the Thumb Money Method



Appendix


1.

CADCHF Week 12
.csv
Download CSV • 216KB


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