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TurBit FX Trading master account is controlled by the Phibase Trading Team. Trading is based on price action, chart patterns and support/resistance levels. Trade entries is based on price zones which are derived from H1, H4, D1 and W1 time frames. Rabbit “piping” algorithm scans through all the 10 pairs on a continuous basis and picks up charts that have trading potential. Phibase Team aims at monthly gains of about 4% while maintaining the maximum drawdown of the strategy at less than 600 pips (12% at default risk).
Trades on the master account are replicated on member accounts using the TurBit Fx V2 MT4 client EA. The Client EA works like a normal Forex robot at the client end.
TurBit FX V2 Trading Strategy Specifications:
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TurBit FX V2 trades 10 different pairs for excellent diversification. TurBit strategy involves trading EURUSD, GBPUSD, AUDUSD, USDJPY, EURJPY, GBPJPY, USDCHF, USDCAD, EURGBP & XAUUSD.
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Maximum of one position per symbol open at a time.
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Maximum of two open trades at any point of time.
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Maximum floating drawdown allowed would be 300 pips. This would mean 6% of equity at High Risk level or 3% of equity at Medium Risk level.
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Trades are closed at best possible level if the original expected direction of the trade entry is not seen. Average booked loss would be around 50 pips – this is dynamic and controlled manually.
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Protective stoploss is set at 150 pips – Will not be modified after the trade is placed. The stoploss will be moved only to break even level or lock in gains.
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Strategy aims for locking in 100 pips initially. Trades which continue in right direction with floating gain above 150 pips will be managed with a tolerance of about 100 pips or nearest major support/resistance levels. These larger gains help improve the risk:reward of the strategy.
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Strategy has very strong entry signals. A healthy success rate of above 60% will be maintained due to this.
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The strategy has potential to generate between 5 to 10 trades per week.
