Thank you for your clarification regarding how you are trading pipwoof’s strategy. I can’t help but draw a similarity to Orangeroshan’s SRDC I method (Daily Hi/Lo breakout). Orange trades the 3 amigos (GU, EU, AU) with a SL25 and TP5. He doesn’t use a basket goal but his disproportionate negative r/r is similar to yours.
Why do you use 09:00 GMT instead of 00:00 GMT? Is it because you reside in the UK and it’s more convenient for you?
Considering spread costs, I would surmise you would likely start out negative early in the trading day as your earliest orders become filled?
Which 4 currency pairs did you test? If those 4 pair were profitable without a loss for 6 months, why expand to 12 pairs?
Have you considered taking a larger collective profit, say +50 pips instead of +25 pips?
Have you considered trading fewer pairs as some of these pairs move essentially in the same direction (3 amigos for example)? I guess I would personally cull out pairs that perform least well, and perhaps those that trade very similarly in order to positively balance the portfolio. Perhaps you have already done that. If you can disclose the 12 pairs, I can run some different SL/TP scenarios to help define the best setup.
Anyway…I applaud you for thinking outside the box, but I am terrified about the huge negative r/r even taking into account the SL25. I realize the basket approach changes the risk dynamic…I just have to wrap my mind around it as being safe-enough to trade this way.
Good trading my friend! :35: