I am doing an experiment for statistics and have chosen to do a coin toss method to trade the markets. Please do not post in this thread, I would like it to stay clean for my research and trade updates. If anyone can help with a thread lock of some sort, please feel free to PM me.
My aim is to pass the assignment, nothing more, nothing less (well yea, to satisfy some curiosity too).
Here's how it will work. I am trying to keep it as KISS as possible. Sure there's a gazillion ways to do this, I have selected one and am sticking to it.
3 tosses of a coin, best of three wins.
Heads long tails short (I may reverse this after a number of samples).
The coin when tossed must travel higher than my head and not hit the ceiling. It will be left to drop on the floor. If it hits anything on the floor I will toss again. Trying to get as much consistency as possible here.
Risk:Reward = 50 pip stop loss 100 pip hard take profit (1:2). Trading 1 standard lot.
I will enter a new trade when one of two things occur.
1) The stop loss is hit
2) The take profit is hit.
Currency pair will be AUD/USD at this stage, just to keep my lecturer happy. It's not progressing as fast as I'd like it to, so I am gaining permission to add the GBP/USD pair.
To follow will be posts of the trades in the format of:
Coin Toss Result
i.e. 2 heads 1 tails
Trade
Entry
Stop
Take profit
Update
Trade result
This is all through a demo account (broker is FXCM).
As I mentioned above, please do not post in my thread, it is for a study I must undertake. Thank you for understanding.
My aim is to pass the assignment, nothing more, nothing less (well yea, to satisfy some curiosity too).
Here's how it will work. I am trying to keep it as KISS as possible. Sure there's a gazillion ways to do this, I have selected one and am sticking to it.
3 tosses of a coin, best of three wins.
Heads long tails short (I may reverse this after a number of samples).
The coin when tossed must travel higher than my head and not hit the ceiling. It will be left to drop on the floor. If it hits anything on the floor I will toss again. Trying to get as much consistency as possible here.
Risk:Reward = 50 pip stop loss 100 pip hard take profit (1:2). Trading 1 standard lot.
I will enter a new trade when one of two things occur.
1) The stop loss is hit
2) The take profit is hit.
Currency pair will be AUD/USD at this stage, just to keep my lecturer happy. It's not progressing as fast as I'd like it to, so I am gaining permission to add the GBP/USD pair.
To follow will be posts of the trades in the format of:
Coin Toss Result
i.e. 2 heads 1 tails
Trade
Entry
Stop
Take profit
Update
Trade result
This is all through a demo account (broker is FXCM).
As I mentioned above, please do not post in my thread, it is for a study I must undertake. Thank you for understanding.