Most of my systems.. partial systems... ideas use indicators to some extent thought Id post my results here on a indicator free system I use I trade this pattern when ever I see it.
It doesnt produce huge winning TP's its a scalping system and has been reliable for me.I'm terrible at keeping notes and records of trades its my biggest down fall............Hence why I use to have a trading partner they handled all that behind the scenes stuff.
Its uses a 5min time frame and the signal is created over a series of candles the TP and SL are very simple.If after a few weeks I have seen consistent positive pips then I will post it .. I use various systems and find it difficult to know what one is making the better pips...Is it better for example to put your money behind a system that has a fantastic win loss ratio but takes 10 pips a time or a system that has a 40% win loss ratio that takes 100 pips a time...Its not want I wish to debate here but need to log these scalping trades down.
I kept a track of signals last week with a view of starting this journal,My trading time is 8am to 7pm and records will be updated if possible once a day.If I see by my journal is just not good enough Il stop and wipe the slate clean
On days when UK bank holiday is in process I will look at USDCHF a none EUR or GBP spot
Week starting Monday 23rd Aug
M ..-12+8+6+12+5+6+4 = 53
T .. -18+15+16 = 13
W .. +19+8 = 27
T .. -11+14+10+14+16 = 43
F .. +10+23+11-9 = 35
Weekly gain/loss = gain171 pips
Signals 21
Wins 17
Lost 4
Strike rate 80%
Week starting 30th Aug UK Bank Holday
It doesnt produce huge winning TP's its a scalping system and has been reliable for me.I'm terrible at keeping notes and records of trades its my biggest down fall............Hence why I use to have a trading partner they handled all that behind the scenes stuff.
Its uses a 5min time frame and the signal is created over a series of candles the TP and SL are very simple.If after a few weeks I have seen consistent positive pips then I will post it .. I use various systems and find it difficult to know what one is making the better pips...Is it better for example to put your money behind a system that has a fantastic win loss ratio but takes 10 pips a time or a system that has a 40% win loss ratio that takes 100 pips a time...Its not want I wish to debate here but need to log these scalping trades down.
I kept a track of signals last week with a view of starting this journal,My trading time is 8am to 7pm and records will be updated if possible once a day.If I see by my journal is just not good enough Il stop and wipe the slate clean
On days when UK bank holiday is in process I will look at USDCHF a none EUR or GBP spot
Week starting Monday 23rd Aug
M ..-12+8+6+12+5+6+4 = 53
T .. -18+15+16 = 13
W .. +19+8 = 27
T .. -11+14+10+14+16 = 43
F .. +10+23+11-9 = 35
Weekly gain/loss = gain171 pips
Signals 21
Wins 17
Lost 4
Strike rate 80%
Week starting 30th Aug UK Bank Holday