Project : Forex StayAtHome

Introduction
I am writing this heading into the 4th week of lockdown with the Corona Virus pandemic. I am lucky that I can make an income with a laptop and internet, however, I am aware that there are so many people less fortunate than me. The aim of this project is to demonstrate a simple way to make money online that someone having limited technical knowledge can do and make an income.

Method
The way we are going to do this is to do it trading Forex.

We will trade high risk, high return. Every time we make 100% return, we withdraw this money and leave the rest to trade. This way, we ensure we continual to bank profits. Due to the nature of this high risk trading, there will be a chance that we can lose all money in the account. If we are able to bank 100% return, any further progress onwards is therefore risk free.

Backtesting
I am using an algo that I am using to trade 3 Forex pairs, EURUSD, NZDUSD and USDJPY. I am trading on the 15 minute timeframe which means that we will have a relative bounty of trades.

Running the backtests using £1000 seed account…

The backtest looks like the above… pretty impressive. In 6 weeks, the account grows from £1000 to £6600, a massive 660% growth.
In the chart, the Green is USDJPY, Orange is NZDUSD and Red is EURUSD. Combined, they create the blue line. The results are from March 2020 to April 17th. If the modelling is accurate to the real world, then a total of £5600 profit would have been made and we would have taken out £5000 in the 6 weeks of doing this with just a £1000 seed account.

I also include the spreadsheet to show the list of hypothetical trades for those interested in analysing further. What’s interesting is how quickly each £1000 was made

Trading starts 02/03
First £1000 made by 05/03 – 3 days
Second £1000 made by 12/03
Third £1000 made by 02/04 (there was a loss in this period it had to make up)
Fourth £1000 by 13/04 (had to make up 3 losses)
Fifth £1000 by 14/04

Click here to download backtest results -> Forex StayAtHome backtest results

Can this work in real life?
We can only know by testing in a live account. Anyway, it’s all set up, you can track this at MyFxBook, the link is: Forex StayAtHome MyFxBook Link