Hi all,
I want to share my strategy and get your opinions comments and views.
The strategy I'm using is very simple and has been very succesfull so far.
My rules:
1. NO leverage
I have a 1000 eur account and I'm trading only 0.01 lots right now. I will start to trade 0.02 lots as soon as I reach 2000 eur margin and so on (or you can decide to go even slower by trading 0.02 lots only when your account has 3000 eur margin etc.)
2. SMALL TP
I have a set TP of 15-20 pips on every trade, trading only pairs with low broker spread.
3. NO Stop Loss
I do not set SL, so basically trades close only when TP is reached. (I'll explain later why)
4. No more than 5 trades open at the same time.
Entry Condition:
LONG when H4 PA closes above 5EMA
SHORT when H4 PA closes below 5EMA
That's it!
I have been testing this method for 3 weeks now,
Opened 29 trades in total
Closed with TP 27 trades
Still pending open trades: 2 (TP not yet reached)
Making money trading 0.01 lots makes it really slow, but I'm slowly building account margin so I can start trading bigger lots.
I dont use SL for this method, and that has been the key of success:
Even when the trade reverses on me and goes -200/-300 pips against me, the fact that I'm not using the leverage, makes it affordable (you can whitstand such a reversal with no leverage and still open other trades!)
The only bad thing is that a trade can stay open for days or weeks before reaching TP. But as I could see by testing, more than 90% of trades reach TP within 48 hrs.
I try to compensate for the negative rollovers by entering in trades with positive rollovers (for example long on AUDUSD)
What do you think of this strategy?
I want to share my strategy and get your opinions comments and views.
The strategy I'm using is very simple and has been very succesfull so far.
My rules:
1. NO leverage
I have a 1000 eur account and I'm trading only 0.01 lots right now. I will start to trade 0.02 lots as soon as I reach 2000 eur margin and so on (or you can decide to go even slower by trading 0.02 lots only when your account has 3000 eur margin etc.)
2. SMALL TP
I have a set TP of 15-20 pips on every trade, trading only pairs with low broker spread.
3. NO Stop Loss
I do not set SL, so basically trades close only when TP is reached. (I'll explain later why)
4. No more than 5 trades open at the same time.
Entry Condition:
LONG when H4 PA closes above 5EMA
SHORT when H4 PA closes below 5EMA
That's it!
I have been testing this method for 3 weeks now,
Opened 29 trades in total
Closed with TP 27 trades
Still pending open trades: 2 (TP not yet reached)
Making money trading 0.01 lots makes it really slow, but I'm slowly building account margin so I can start trading bigger lots.
I dont use SL for this method, and that has been the key of success:
Even when the trade reverses on me and goes -200/-300 pips against me, the fact that I'm not using the leverage, makes it affordable (you can whitstand such a reversal with no leverage and still open other trades!)
The only bad thing is that a trade can stay open for days or weeks before reaching TP. But as I could see by testing, more than 90% of trades reach TP within 48 hrs.
I try to compensate for the negative rollovers by entering in trades with positive rollovers (for example long on AUDUSD)
What do you think of this strategy?