Hi guys i have been running a strategy for the last 3 weeks and only traded for the first and third week (was on holiday for the second week so stayed out of trading as was out of the UK).
All trades were done on EUR/USD from MT4 running on my laptop which is hooked up at home, i only had trades being started between 0700 - 1600 mon - thurs (earlier tests proved fridays a no-go) with all other pending orders being cancelled at 1600.
I was going for 10 pips a pop, and did 35 trades, with 34 hitting the target and one hitting SL of - 100 pips. The rest hit 10 pips take profit so i made 240 pips over the two weeks with a 0.01 lot
All tests were run on a $300 micro demo account and i only normally had a max of 3 trades at any time running, with maybe 3 - 6 orders waiting around to get kicked off.
I am considering lowering my take profit to 5 pips instead of 10 and going with a 0.02 lot to try to reduce the probability of failure.
Now so far this sounds too good to be true for me that i am doing so well, and the recent drawdown this week made me look at my strategy again and is making me think of just 5 pips instead of 10.
My point is, based on what i have said above do you define this as successful. I know the rule if it sounds too good to be true it often is, so i have alot of testing to do to prove to myself if this is the real thing.
Should i go for 100 demo trades and see what the end result is or what do you guys recommend?
I would like to know what you all define as a successful strategy, is it a % profit made per month, pips made per month, % of trades closed positive. Please let me know.
Also what is important to me is making pips, not money. I do want to make money from this, but that is not my main goal. I want to be profitable in pips every week, so in theory every month i will be in profit, so when i do go live i can hopefully make a nice 10 - 15% profit on my account per month if im lucky.
Thanks guys.