Hello @TheForexCoach… My system is based on the SP500 ONLY. The reason that I use that market is because that market is in a rising state approximately 67% of the time. There is positive drift that happens in that market which means that at SOME POINT the market will recover. It might be 5 days, it might be 5 years, but at SOME POINT the market will recover. So, my theory was that if I can SURVIVE the down period, then that would make it much better.
The reason I don’t use SL, is because as my title states WITHOUT fail every time I have used a SL, it has triggered. That is on a paper account too, so it’s not like there are bots out there looking for my SL.
I cannot put this strategy in any type of FOREX or commodity markets, because there is no positive drift in those markets. There is just ups and downs.
My strategy is based on ONLY LONG positions and closing those positions early. So, I have a signal that is triggered on the 15m chart which I hold for the market increase on ONLY 0.23%. Once the SP500 increases 0.23%, the trade is closed in profit. I have a signal which is triggered on the Daily chart that is held for a market increase of ONLY 4%. So, once the SP500 increases by 4% then the trade is closed.
What I have noticed, is that the trades are about 50/50 in that they go up right away. However, based on my back test (using Tickstory & MT4) the trades are 93% profitable based on the parameters above.
My Risk Management strategy is using VERY SMALL lots. For example, for my $1000 USD account that I opened, I started my 15m chart trading at a size of 0.02 lots and my Daily signal was 0.22 lots. However, the lot sizing I have programmed dynamically based on the size of the account. So, I’m currently up to 0.04 lots on the 15m chart and 0.25 on the Daily chart.