The last week I have earned between 15 pips as worst and 131 pips as best. I am very happy for the moment since I think that I have figured a couple of things out and my balance grows every day (at least for now).
This is how I do.
I check all major pairs against a daily chart. It is pretty easy to see the current trend and if there is a continous movement in either direction, I assume that it will keep doing that for the rest of the day as well unless it means that it has to break its support lines completely.
Then I focus on max 2 pairs that aren’t alike, like EURUSD and GBPUSD for example. It’s useless as for most of the time they move along equal. Then I might as well double my lot size for one of them.
I often end up with EURUSD-USDCAD or EURUSD-AUDUSD for example.
I never execute a market order. I always place entry orders just on the other side of even big numbers. I place them so I safely can say that a turn my way did happen. I have found that entry orders are much more likely to be crossed in one movement than a direct market order. Once crossed and I have a tiny profit I move my stop loss to my buy/sell line to assure a ±0. Then I know I haven’t lost anything, nor will. For most of the time the stick retracts and hit my stop loss and I haven’t won, neither lost anything. Anyway, maybe a few times out of 10 it continues a bit further and I can move my stop loss to a small profit, maybe like 5 pips. Then I just ride along moving my stop loss half of the pips gained. If for example i won 30 pips, I move my stop loss 15 and if I get 100 pips, I move it 50. That way I increase my chance of staying in and there have been several opportunities form me to earn several hundred pips If I didn’t had lost my patience or the day ended and I didn’t want to stay in overnight.
For the first time I feel like I have the math and percentage on my side so the small losses I occationally have to take doesn’t bother me a bit.
Hopefully this will go on…