Have been following this thread since you started back in May, it has made for some very interesting reading so thank you for sharing. I’m a novice, but have completed the school of pipslogoy courses so like to think I have an understanding of the basics. I’ve opened up a couple of demo accounts prior to this thread and have either lost interest (not real money!) or have not been too structured with my trades and blew the account. I’ve also tried scalping when I’ve had time off from work but that’s really not for me, too many games to play and pizzas to eat. Thanks to your thread this the first time I’ve opened an account and applied a clear strategy (yours detailed here) and I thought I’d share my first week with the group. The loosing trade was a mistake, had I have taken into account the AUD was trading near it’s lowest point since records began against the NZD I wouldn’t have opened that trade. That’s what a demo accounts for…
Even with that losing trade first week ROI is 11%, I’m stunned.
Now the markets closed I’ve gone through some of the pairs, picked some trades for next week and thought I might run them past you and the rest of the group following here:
CHFJPY - sell 109.377 SL 110.075 lot size 1.55
EURAUD - 1.61020 buy SL 1.58810 lot size 0.65
EURCAD - broke recent chikou support zones - to watch.
EURCHF - sell 1.10502 SL 1.12645 lot size …0.46
The lot size equates to 10% risk per trade based on the SL. It would be great to know what you think of these, more specifically if you can confirm my analysis is correct (trending pair on the monthly/weekly) and the position of the stop loss (is it far enough away from the noise?). I just want to make sure the first week wasn’t luck and I’m following your approach correctly.
Thanks again for all you’ve shared to date.