This idea was only born 5 weeks ago
It was inspired by my endless strive to have a system that just trades once a day
My main system is doing well and this gives me the opportunity to fund other accounts
I must stress that all my trades are placed with spread betting companies which I rotate in order ..I feel this gives me more shadows to hide in.
The system uses a 1 min chart on EURUSD Ive not tried it on other swaps
The basics are
It was inspired by my endless strive to have a system that just trades once a day
My main system is doing well and this gives me the opportunity to fund other accounts
I must stress that all my trades are placed with spread betting companies which I rotate in order ..I feel this gives me more shadows to hide in.
The system uses a 1 min chart on EURUSD Ive not tried it on other swaps
The basics are
- We identify the trend Euro open to UK open with a mechanical process
- We then use 2 indicators to judge the best time to enter
- We always risk 5% of the account as a stop loss
- We always set our TP to 3 times our stop loss
Our risk reward is therefore 3:1
We can have 4 losers 1 winner in any given week and be down only 5% on the account
We can have 3 losers and 2 winners and be up 15% on the account
Over the last 5 weeks I have placed 25 trades
15 winners
10 losers
The winners gave me a gain of 225%
The losers gave me a loss of 50%
Overall gain without Money management gave me 175%
My actual gain using my money management was 488%
I will attempt to post rules and charts tomorrow PM..but please bear in mind I have only 5weeks of results
P