I didn’t intend trading today due to the NFD but the price action looked OK so I took 4 trades and won 3 of those.
QT account is now just 3 wins away from qualifying, the consistency score is 45% so I need another $100 profit to get it down to 35% - today saw 4 wins from 4.
Late Entries, 1 win and 1 loss.
I am trying something different using the 5%ers account, the Asian Breakout.
Now I’ve done a lot of back testing (never enough) over the weekend and the GBPJPY has a win rate of ~42% with a RRR of 1/3 so I will be doing that, SL is a fixed 6 pips so I only need to get 18 pips.
Today’s trade was successful, I am only using a minimal lot size of 0.1% of bank for now until I get some results.
I think other pairs would also work with different SL and RRR need to do more testing.
OK so for now finished backtesting the Asian Breakout strategy on GBPJPY
I’ve tested back to the start of this year (177 days), win rate is 47.02% on a 1/3 RRR
Maximum losing streak was 5 days, best winning streak was 4 days. Looks like every month is profitable, some weeks will be losing weeks.
SL 5 or 6 looks about right, I will go with 0.5% risk
I don’t take a trade if the breakout doesn’t happen before midday, win rate is lower if that happens.
Will test some other pairs.
Here’s my Topstep account, I have been trading gold, just price action;
I keep doing really well, then getting overconfident and doing dumb trades and losing it all, so what I have done today is moved from trading Micro Gold, to actual gold - it’s the same thing just bigger lot sizes.
I hope this will help me stay focussed and stop getting overconfident!
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