I have a developed a strategy a while ago and have been tweaking and optimizing it for sometime. I wanted to create a journal and share my progress. My strategy is based on range filters.
The strategy starts at 9.30am EST and closes out daily at 4.59pm EST (3.59pm on Fridays). I had a great January and will start posting my progress.
The strategy has a 30 pip profit and 25 pip stop loss. I have seen many strategies where they try to capture a small profit and have a large stop loss. I believe you need a profit target larger than your stop loss, in that case even if you only have a 50% winning ratio you will still be ahead of the game. Traders who have developed a strategy or are looking at one should also consider reviewing the strategy’s Sharpe Ratio or Return Retracement Ratio. They usually give an insight to the strategies additional return you are receiving from the additional risk incurred.
Please don’t trade off of the inputs I will enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live.
Let’s do this! Best of luck to everyone
“Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.”
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
It’s always scary to get in a day with so many reports being released… but one thing I learned is to be disciplined and sticking to your strategy.
9.30 signal.
Short EURUSD at 1.4871
Profit at 1.4841
Stop at 1.4896
Profit target hit 8 minutes into trading.
+30
Have a great weekend!
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
After optimizing my strategy over the weekend, my inputs have changed. I tend to optimize my strategy every week.
Profit target is now 49 pips
Stop loss remains at 25 pips
My signal for today at 9.30:
Short EUR/USD at 1.4814
Profit at 1.4765
Stop at 1.4839
Stopped at 1.4839. (-25 for the day).
MTD +5
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Short at 1.4653
Profit at 1.4604 (49 pips)
Stop at 1.4678 (25 pips)
Closed short at 1.4646 +7 pips.
Today -6 pips.
MTD -1 pip
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Buy at 1.4650
Profit at 1.4699 (49 pips)
Stop at 1.4625 (25 pips)
Stopped at 1.4624
Today -25 pips
MTD -26 pips
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
It’s been one of those months. After a great January the strategy seems to be drawing down a bit. It’s part of the game. Just sticking to it and being disciplined.
Buy at 1.4522
Profit at 1.4571 (49 pips)
Stop at 1.4497 (25 pips)
Stopped at 1.4497
Today -25
MTD -51
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Short at 1.4476
Profit at 1.4427 (49 pips)
Stop at 1.4501 (25 pips)
Stopped at 1.4501
Today -25
MTD -76
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Ok. I’ve optimized my strategy this weekend (I do it every weekend) and my new profit target is 28 pips and stop loss remains at 25 pips. I’m ready for Monday. Can’t wait to start trading again.
Buy at 1.4497
Profit at 1.4525 (28 pips)
Stop at 1.4472 (25 pips)
Profit Target hit +28
Today +28
MTD -48
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
well… the strategy was designed to trade daily, although there are times where it takes no position.
it’s just one of those strategies that doesnt look to make 200 pips a day… it has a relatively small profit and stop. the intention is to build the account slowly but surely. but like any strategy it goes through drawdowns… you just have to stick with it.
Short at 1.4594
Profit at 1.4566 (28 pips)
Stop at 1.4619 (25 pips)
End of Day Close at 1.4582
Today +12
MTD -36
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Buy at 1.4544
Profit at 1.4572 (28 pips)
Stop at 1.4521 (25 pips)
Profit Target hit at 1.4572
Today +28
MTD -8
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Buy at 1.4589
Profit at 1.4617 (28 pips)
Stop at 1.4565 (25 pips)
Profit Target hit at 1.4617
Today +28
MTD +20
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
Short at 1.4673
Profit at 1.4645 (28 pips)
Stop at 1.4698 (25 pips)
Strategy reversed and went Long at 1.4687 (-15 pips)
Long at 1.4687
Profit at 1.4715 (28 pips)
Stop at 1.4662
Stopped at 1.4662 (-28)
Strategy almost hit profit target, but just came short.
Today -43
MTD -23 :rolleyes:
[Please don’t trade off of the inputs I enter here (as they will be old news by the time i post it). At some point I will setup a desktop sharing program for those interested in following it live]
“Hypothetical performance results have many inherent limitations. No representation is being made that any account will or is likely to achieve profits or losses similar to those shown. In fact, there are frequently sharp differences between hypothetical performance results and the actual results subsequently achieved by any particularly trading program. One of the limitations of hypothetical performance results is that they are generally prepared with the benefit of hindsight. In addition, hypothetical trading does not involve financial risk. Variables such as the ability to adhere to a particular trading program in spite of trading losses as well as maintaining adequate liquidity are material points which can adversely affect actual real trading results.”
